<SEC-DOCUMENT>0001292814-18-001496.txt : 20180430
<SEC-HEADER>0001292814-18-001496.hdr.sgml : 20180430
<ACCEPTANCE-DATETIME>20180430084206
ACCESSION NUMBER:		0001292814-18-001496
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		277
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180430
DATE AS OF CHANGE:		20180430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANK BRADESCO
		CENTRAL INDEX KEY:			0001160330
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15250
		FILM NUMBER:		18786845

	BUSINESS ADDRESS:	
		STREET 1:		CIDADE DE DEUS S/N VILA YARA
		STREET 2:		06029-900 OSASCO
		CITY:			SP BRAZIL
		STATE:			D5
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>bbdform20f_2017.htm
<DESCRIPTION>FORM 20-F
<TEXT>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Table of Contents</FONT></B></P>

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   <A href="#_Toc479577581"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>PRESENTATION OF FINANCIAL AND OTHER INFORMATION</FONT></B></A></P></TD>

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   <A href="#_Toc479577581"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></B></FONT><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>4</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577582"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>FORWARD&#8209;LOOKING STATEMENTS</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577582"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577583"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>PART I</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577583"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577584"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577584"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577585"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577585"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577586"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 3. KEY INFORMATION</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577586"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577587"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>3.A. Selected Financial Data</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577587"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577588"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>3.B. Capitalization and Indebtedness</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577588"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577589"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>3.C. Reasons for the Offer and Use of Proceeds</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577589"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577590"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>3.D. Risk Factors</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577590"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></B></FONT><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577591"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 4. INFORMATION ON THE COMPANY</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577591"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>23</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577592"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>4.A. History and Development of the Company</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577592"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>23</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577593"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>4.B. Business Overview</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577593"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>26</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#Toc479577594"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=Calibri,sans-serif>4.C. Organizational Structure</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#Toc479577594"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif><FONT style="FONT-SIZE: 10pt" face=Calibri>107</FONT></FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577595"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>4.D. Property, Plants and Equipment</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577595"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10<FONT style="FONT-SIZE: 10pt" face=Calibri>7</FONT></FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577596"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 4A. UNRESOLVED STAFF COMMENTS</FONT></B></A></P></TD>

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   <A href="#_Toc479577596"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>107</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577597"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=Calibri,sans-serif>I</FONT></B><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>TEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577597"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>107</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577598"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.A. Operating Results</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577598"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>107</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577599"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.B. Liquidity and Capital Resources</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577599"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>1<FONT style="FONT-SIZE: 10pt" face=Calibri>3</FONT>3</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577600"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.C. Research and Development, Patents and Licenses</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577600"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>14<FONT style="FONT-SIZE: 10pt" face=Calibri>5</FONT></FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577601"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.D. Trend Information</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577601"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577602"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.E. Off-balance sheet arrangements</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577602"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577603"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.F. Tabular Disclosure of Contractual Obligations</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577603"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></B></FONT><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577604"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>5.G. Safe Harbor</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577604"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577605"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577605"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577606"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6.A. Board of Directors and Board of Executive Officers</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577606"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>145</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577607"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6.B. Compensation</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577607"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>15<FONT style="FONT-SIZE: 10pt" face=Calibri>7</FONT></FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577608"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6.C. Board Practices</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577608"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>15<FONT style="FONT-SIZE: 10pt" face=Calibri>7</FONT></FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577609"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6.D. Employees</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577609"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>1<FONT style="FONT-SIZE: 10pt" face=Calibri>61</FONT></FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577610"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>6.E. Share Ownership</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577610"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>162</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577611"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577611"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>163</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577612"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>7.A. Major Shareholders</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577612"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>163</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577613"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>7.B. Related Party Transactions</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577613"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>166</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577614"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>7.C. Interests of Experts and Counsel</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577614"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>167</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577615"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 8. FINANCIAL INFORMATION</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577615"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>167</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577616"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>8.A. Consolidated Statements and other Financial Information</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577616"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>167</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577617"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>8.B. Significant Changes</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577617"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>169</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577618"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 9. THE OFFER AND LISTING</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577618"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>169</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577619"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.A. Offer and Listing Details</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577619"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>169</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577620"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.B. Plan of Distribution</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577620"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>172</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577621"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.C. Markets</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577621"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>172</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577622"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.D. Selling Shareholders</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577622"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577623"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.E. Dilution</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577623"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577624"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>9.F. Expenses of the Issue</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577624"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577625"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 10. ADDITIONAL INFORMATION</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577625"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577626"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.A. Share Capital</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577626"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577627"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.B. Memorandum and Articles of Association</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577627"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>174</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577628"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.C. Material contracts</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577628"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>18<FONT style="FONT-SIZE: 10pt" face=Calibri>2</FONT></FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577629"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.D. Exchange controls</FONT></B></A></P></TD>

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   <A href="#_Toc479577629"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>18<FONT style="FONT-SIZE: 10pt" face=Calibri>2</FONT></FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577630"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.E. Taxation</FONT></B></A></P></TD>

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   <A href="#_Toc479577630"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>183</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577631"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.F. Dividends and Paying Agents</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577631"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>189</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577632"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.G. Statement by Experts</FONT></B></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577632"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>189</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577633"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.H. Documents on Display</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577633"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>189</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577634"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>10.I. Subsidiary Information</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577634"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>189</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577635"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577635"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>189</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577636"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</FONT></B></A></P></TD>

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   <A href="#_Toc479577636"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>19<FONT style="FONT-SIZE: 10pt" face=Calibri>2</FONT></FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577637"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=Calibri,sans-serif>12.A. Debt Securities</FONT></B></A></P></TD>

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   <A href="#_Toc479577637"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>192</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577638"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=Calibri,sans-serif>12.B. Warrants and Rights</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577638"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>192</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577639"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=Calibri,sans-serif>12.C. Other Securities</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577639"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577640"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>12.D. American Depositary Shares</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577640"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0in 5pt">
   <A href="#_Toc479577641"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>PART II</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577641"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577642"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577642"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577643"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</FONT></B></A></P></TD>

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   <A href="#_Toc479577643"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577644"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 15. CONTROLS AND PROCEDURES</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577644"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>193</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577645"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 16. [RESERVED]</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <P style="MARGIN: 0in 0in 0in 5pt" align=right>
   <A href="#_Toc479577645"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>194</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577646"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.A. Audit Committee Financial Expert</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577646"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>194</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577647"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.B. Code of Ethics</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577647"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>194</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577648"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.C. Principal Accountant Fees and Services</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577648"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>194</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577649"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.D. Exemptions from the listing standards for Audit Committees</FONT></B></A></P></TD>

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   <A href="#_Toc479577649"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></B></FONT><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>195</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577650"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</FONT></B></A></P></TD>

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   <A href="#_Toc479577650"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>195</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577651"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.F. Change in Registrant's Certifying Accountant</FONT></B></A></P></TD>

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   <A href="#_Toc479577651"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>196</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577652"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>16.G. Corporate Governance</FONT></B></A></P></TD>

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   <A href="#_Toc479577652"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>196</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577653"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>PART III</FONT></B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif> </FONT></B></FONT></A></P></TD>

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   <A href="#_Toc479577653"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>198</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577654"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 17. FINANCIAL STATEMENTS</FONT></B></A></P></TD>

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   <A href="#_Toc479577654"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>198</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577655"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 18. FINANCIAL STATEMENTS</FONT></B></A></P></TD>

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   <A href="#_Toc479577655"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>198</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577656"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>ITEM 19. EXHIBITS</FONT></B></A></P></TD>

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   <A href="#_Toc479577656"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>198</FONT></B></FONT></A></P></TD></TR>

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   <A href="#_Toc479577657"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>SIGNATURES</FONT></B></A></P></TD>

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   <A href="#_Toc479577657"><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" face=Calibri,sans-serif>197</FONT></B></FONT></A></P></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>PRESENTATION OF FINANCIAL AND OTHER INFORMATION</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc415063360"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this annual report, the terms "Bradesco," the "Company," the "Bank," the "Bradesco Group," "we,&#8221; the &#8220;Organization,&#8221; &#8220;our&#8221; and "us" refer to Banco Bradesco S.A., a </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>sociedade an&#244;nima</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> organized under the laws of Brazil and, unless otherwise indicated, its consolidated subsidiaries. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>All references herein to "real," "reais" or "R$" refer to the Brazilian Real, the official currency of Brazil. References herein to "U.S. dollars," "dollar" and "US$" refer to United States dollars, the official currency of the United States of America (USA).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our audited consolidated financial statements as of and for the years ended December 31, 2017, 2016 and 2015 and the corresponding notes, which are included under "Item 18. Financial Statements" of this annual report, were prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>W</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>e use accounting practices adopted in Brazil for financial institutions authorized to operate by&nbsp;the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central Bank of Brazil (Banco Central do Brasil), or the "Central Bank," </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>for certain purposes, such as performance assessment, decision-making, preparation of reports for Brazilian shareholders, filings with the Brazilian Securities and Exchange Commission (CVM) and determining dividend and federal income tax payments. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Some data related to economic sectors presented in this annual report was obtained from the following sources: B3 (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brasil, Bolsa, Balc&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) or (&#8220;B3&#8221;); </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Association of Credit Card Companies and Services (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Empresas de Cart&#227;o de Cr&#233;dito e Servi&#231;os),</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> or ("ABECS"); Brazilian Association of Leasing Companies (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira de Empresas de Leasing</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("ABEL"); Brazilian Association of Financial and Capital Markets Entities</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Entidades dos Mercados Financeiros e de Capitais</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("ANBIMA"); Brazilian Health Insurance Authority</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Ag&#234;ncia Nacional de Sa&#250;de Suplementar</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("ANS"); Central Bank;</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Bank of Economic and Social Development (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banco Nacional de Desenvolvimento Econ&#244;mico e Social</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("BNDES"); National Association of Private Pension Plans and Life (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Nacional de Previd&#234;ncia Privada e Vida</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("FENAPREVI");</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Getulio Vargas Foundation</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Funda&#231;&#227;o Getulio Vargas), or ("</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>FGV")</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Private Insurance Superintendence</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Superintend&#234;ncia de Seguros Privados</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("SUSEP"). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Certain figures included in this annual report have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>References in this annual report to the &#8220;common shares&#8221; and &#8220;preferred shares&#8221; are to our common shares and preferred shares, respectively, and together our "shares." References to &#8220;preferred share ADSs&#8221; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in this annual report are </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to preferred share American Depositary Shares, each representing one preferred share. The preferred share ADSs are evidenced by preferred share American Depositary Receipts, or preferred share ADRs, issued pursuant to an Amended and Restated Deposit Agreement, dated as of December 11, 2015, by and among us, The Bank of New York Mellon, as depositary, and the holders and beneficial owners of preferred share ADSs evidenced by preferred share ADRs issued thereunder (the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Preferred </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Share </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADS Deposit Agreement</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>References to "common share </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs" </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in this annual report </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are related to common share American Depositary Shares, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> each </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>common share ADS </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>representing one common share. The common share ADSs are evidenced by common share American Depositary Receipts</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, or </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>common share ADRs, issued pursuant to an Amended and Restated Deposit Agreement dated as of December 11, 2015, by and among us, The Bank f New York Mellon, as depositary, and the holders and beneficial owners of common share ADSs evidenced by common share ADRs issued thereunder (the "Common Share </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADS</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Deposit Agreement" and</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> together with the</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Preferred Share ADS</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Deposit Agreement,&#8221; the "Deposit Agreements").</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>References throughout this annual report to "ADSs" are to our preferred share ADSs and common share ADSs, together.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Throughout this annual report, we may indicate that certain information is available at different websites operated by us. None of the information on the websites referred to or mentioned in this annual report is part of or is incorporated by reference herein. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This annual report translates certain real amounts &#8206;into U.S. dollars solely for the convenience of the reader. Unless otherwise noted in this annual report, all such real amounts have been translated at the &#8206;rate of R$3.3238 per US$1.00, which was the Central Bank rate published on March 29, 2018. Such conversion </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>should not be &#8206;construed as a representation that the real amounts correspond to, or have been or could be converted into, U.S. &#8206;dollars at that rate or any other rate. </FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577582"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>FORWARD&#8209;LOOKING STATEMENTS</FONT></B></H1></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc415063361"></A><A name="_Toc292442685"></A><A name="_Toc292442486"></A><A name="_Toc292442162"></A><A name="_Toc292385889"></A><A name="_Toc292385233"></A><A name="_Toc292385133"></A><A name="_Toc292094946"></A><A name="_Toc291077083"></A><A name="_Toc291061214"></A><A name="_Toc290995512"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This annual report contains forward&#8209;looking statements as defined in Section 27A of the Securities Act of 1933, as amended, or the "Securities Act," and Section 21E of the Securities Exchange Act of 1934, as amended, or the "Exchange Act." These statements are based mainly on our current expectations and projections of future events and financial trends that affect or might affect our business. In addition to the items discussed in other sections of this annual report, there are many significant factors that could cause our financial condition and results of&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>operations</FONT> to differ materially from those set out in our forward-looking statements, including, but not limited to, the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>current weakness in Brazilian macroeconomic conditions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>global economic conditions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>economic, political and business conditions in Brazil and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> other</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> markets in which we operate;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>risks of lending, credit, investments and other activities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our level of capitalization;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cost and availability of funds;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>higher levels of delinquency by borrowers, credit delinquency and other delinquency events leading to higher impairment of loans and advances;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the synergies of the business that we acquired from HSBC Bank Brasil and HSBC Servi&#231;os e Participa&#231;&#245;es (&#8220;HSBC Brasil&#8221;);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>loss of customers or other sources of income;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our ability to execute our investment strategies and plans as well as to maintain and improve our operating performance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our revenues from new products and businesses;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>adverse claims, legal or regulatory disputes or proceedings;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inflation, fluctuations in the value of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and/or </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest rates</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, which could adversely affect our margins;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>competitive conditions in the banking, financial services, credit card, asset management, insurance sectors and related industries;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the market value of securities, particularly government securities; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>changes by the Central Bank and others in laws and regulations, applicable to us and our activities, including, but not limited to, those affecting </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>tax matters.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Words such as "believe," "expect," "continue," "understand," "estimate," "will," "may," "anticipate," "should," "intend," and other similar expressions identify forward&#8209;looking statements. These statements refer only to the date on which they were made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or any other event.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In light of these risks and uncertainties, the forward&#8209;looking statements, events and circumstances discussed in this annual report may not be accurate, and our actual results and performance could differ materially from those anticipated in our forward-looking statements. Investors should not make investment decisions based solely on the forward-looking statements in this annual report.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>5</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt" face=Calibri>PART I</FONT></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>PART I</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577584"></A><A name="_Toc415063362"></A><A name="_Toc292442686"></A><A name="_Toc288278512"></A><A name="_Toc288271585"></A><A name="_Toc261485990"></A><A name="_Toc257080047"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 1. IDENTITY OF DIRECTORS, </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SENIOR MANAGEMENT, </FONT></B><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>AND ADVISERS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577585"></A><A name="_Toc415063363"></A><A name="_Toc292442687"></A><A name="_Toc288278513"></A><A name="_Toc288271586"></A><A name="_Toc261485991"></A><A name="_Toc257080048"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577586"></A><A name="_Toc415063364"></A><A name="_Toc292442688"></A><A name="_Toc288278514"></A><A name="_Toc288271587"></A><A name="_Toc261485992"></A><A name="_Toc257080049"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 3. KEY INFORMATION</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.3pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577587"></A><A name="_Toc415063365"></A><A name="_Toc292442689"></A><A name="_Toc288278515"></A><A name="_Toc288271588"></A><A name="_Toc261485993"></A><A name="_Toc257080050"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>3.A. Selected Financial Data</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We present below our selected financial data derived from our consolidated financial statements as of and for the years ended December 31, 2017, 2016, 2015, 2014 and 2013, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the IASB and audited by KPMG Auditores Independentes, an independent registered public accounting firm. The data as of and for the years ended December 31, 2017, 2016 and 2015 is derived from our consolidated financial statements included in this annual report. The data for the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>years</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> ended December 31, 2014 and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2013</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> is derived from our consolidated financial statements, which are not included herein. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following selected financial data should be read together with the "Presentation of Financial and Other Information" and "Item 5. Operating and Financial Review and Prospects."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Selected Financial Data</FONT></I></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>US$ in <BR>thousands <SUP>(1)</SUP></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;R$ in thousands </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2014</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Data from the Consolidated Statement of Income</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,978,316 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>126,232,328 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>147,700,375 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>127,048,252 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,893,096 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 90,682,625 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expenses</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(22,741,866)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(75,589,415)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(91,037,386)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(71,412,210)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(53,847,329)</FONT></P></TD>

   <TD vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(41,382,142)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,236,450 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,642,913 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 56,662,989 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 55,636,042 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,045,767 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49,300,483 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fee and commission income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,844,223 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 22,748,828 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,341,087 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,856,873 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,759,980 </FONT></P></TD>

   <TD vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,535,723 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fee and commission expenses</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (36)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (36,203)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (20,724)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (36,041)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,844,223 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 22,748,828 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,341,051 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,820,670 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,739,256 </FONT></B></P></TD>

   <TD vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,499,682 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,895,213 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,623,108 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,402,770 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(8,252,055)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,933,003)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5,790,089)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>171,598 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>570,358 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,341,400)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (671,810)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (991,894)</FONT></P></TD>

   <TD vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,100,782)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Losses on investments held-to-maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,403)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (54,520)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>428,111 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,422,957 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,757 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,523,095)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,244,680)</FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,093,597)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,877,366 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,239,990 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,155,763 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,497,505 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,411,845 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,933,680 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5,072,759)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,860,835)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(15,350,278)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,721,152)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,291,386)</FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(9,623,870)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,234,811)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(20,723,265)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(17,003,783)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,058,047)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13,667,639)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,354,418)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other administrative expenses</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5,079,265)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,882,461)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,149,563)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13,721,970)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,971,521)</FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,151,537)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,374,501)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,568,568)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,658,413)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,942,003)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,932,687)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,740,830)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,048,726)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,133,357)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,004,162)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,988,553)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,223,083)</FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7,622,240)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes and share of profit of associates and joint ventures</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,626,496 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 22,025,148 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,205,731 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,075,532 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,940,975 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,256,482 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>517,002 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,718,411 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,699,725 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,528,051 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,389,816 </FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,062,687 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,143,498 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,743,559 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,905,456 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,603,583 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,330,791 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,319,169 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,934,219)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,428,956)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13,912,730)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,634,322 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,914,313)</FONT></P></TD>

   <TD style="BACKGROUND: white" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,833,031)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,209,279 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,314,603 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,992,726 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,237,905 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,416,478 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,486,138 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Attributable to shareholders</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,141,514 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,089,364 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,894,249 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,132,906 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,314,943 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,395,920 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,766 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>225,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>98,477 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>104,999 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>101,535 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>90,218 </FONT></P></TD></TR>

<TR>

   <TD vAlign=bottom colSpan=7>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts stated in U.S. dollars have been translated from Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> at an exchange rate of R$3.3238 per US$1.00, the Central Bank exchange rate on March 29, 2018. Such translations should not be construed as a representation that the Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> amounts presented were or could be converted into U.S. dollars at that rate.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader7"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT style="FONT-SIZE: 11pt"><FONT style="FONT-FAMILY: Calibri">3.A. Selected Financial Data</FONT></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$, except for number of shares</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Data on Earnings and Dividends per Share <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Earnings per share&nbsp; <SUP>(2) </SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Common</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.67 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.80 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.84 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.39 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.94 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Preferred</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.94 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3.08 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3.12 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.64 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2.13 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Dividends/interest on equity per share <SUP>(3)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Common</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.13 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.09 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;0.95 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;0.79 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;0.65 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Preferred</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.24 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.20 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1.04 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;0.86 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;0.70 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Weighted average number of outstanding shares <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Common</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,049,448,563 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,049,448,563 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,050,040,493 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,050,272,329 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,050,272,329 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Preferred</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,035,625,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,035,625,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,035,625,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,041,434,763 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,043,058,970 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=6>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> Adjusted for corporate events occurred in the periods. For more information about the company events, see "Item 9.A. Offer and Listing Details;"</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=6>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> None of our outstanding liabilities are exchangeable for or convertible into equity securities. Therefore, our diluted earnings per share do not differ from our earnings per share. Accordingly, our basic and diluted earnings per share are equal in all periods presented; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=6>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Holders of preferred shares are entitled to receive dividends per share in an amount 10.0% greater than the dividends per share paid to common shareholders. For purposes of calculating earnings per share according to IFRS, we used the same criteria adopted for dividends per share. For a description of our two classes of shares. see "Item 10.B. Memorandum and Articles of Association."</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>In US$</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends/interest on equity per share <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Common</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.34</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.37</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.27</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.33</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.30</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Preferred</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.38</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.41</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.29</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.36</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.33</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=6>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts stated in U.S. dollars have been translated from Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> at the exchange rate disclosed by the Central Bank at the end of each fiscal year.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter7"></a><DIV>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>7</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=right><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



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&nbsp; <A name="page_8"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader8"></a><DIV>

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<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT style="FONT-SIZE: 11pt"><FONT style="FONT-FAMILY: Calibri">3.A. Selected Financial Data</FONT></FONT></FONT></B></FONT></B></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="34%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>US$ in <BR>thousands <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Data from the Consolidated Statement of Financial Position</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 24,593,222 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 81,742,951 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,554,651 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,091,764 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 65,430,300 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 67,450,363 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>72,720,994 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>241,710,041 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>213,139,846 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>159,623,449 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 78,498,311 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 96,092,523 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47,960,985 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>159,412,722 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>113,118,554 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>117,695,450 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>120,961,734 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 67,838,411 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,735,399 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 39,006,118 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,002,028 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 40,003,560 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,071,031 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,069,026 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,350,855 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>183,975,173 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>155,286,577 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>144,489,921 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>152,612,689 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>117,740,225 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks, net of impairment</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,702,065 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,247,724 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 94,838,136 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,620,410 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,974,619 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 78,719,723 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to customers, net of impairment</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>104,325,801 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>346,758,099 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>367,303,034 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>344,868,464 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>328,064,004 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>304,121,334 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Non-current assets held for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>457,601 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,520,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,578,966 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,247,106 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,006,461 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>832,546 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,484,320 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,257,384 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,002,778 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,815,325 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,983,780 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,392,847 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Premises and equipment</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,536,998 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,432,475 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,397,116 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,504,435 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,700,518 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,501,967 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,867,714 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,179,307 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,797,526 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,409,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,529,915 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,220,739 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Taxes to be offset</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,166,428 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,524,575 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,723,211 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,817,427 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,130,191 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,293,116 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,157,203 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,731,911 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 45,116,863 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 45,397,879 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 28,388,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,661,079 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,299,954 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,853,987 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 47,170,370 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 40,118,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,099,280 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,367,715 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>368,359,540 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,224,353,440 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,192,029,656 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,026,703,522 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>930,451,016 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>838,301,614 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 86,033,296 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>285,957,468 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>301,662,682 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>293,903,391 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>279,940,227 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>243,100,373 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 78,827,982 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>262,008,445 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>232,747,929 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>194,510,100 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>210,031,505 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>216,218,057 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,294,783 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,274,999 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,435,678 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,345,729 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,315,573 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,826,382 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>40,668,539 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>135,174,090 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>151,101,938 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>109,850,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 85,030,399 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 57,883,068 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,096,998 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,179,401 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,611,064 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,282,936 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,821,666 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,885,003 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Technical provisions for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>71,932,604 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>239,089,590 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>215,840,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>170,940,940 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>146,559,220 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>130,329,023 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other reserves</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,563,129 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,490,727 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,292,409 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,364,317 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,864,401 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,752,577 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Current income tax liabilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>726,983 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,416,345 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,130,286 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,781,104 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,602,333 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,082,976 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>376,631 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,251,847 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,762,948 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>772,138 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>808,178 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>799,824 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 29,429,215 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 97,816,824 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 96,965,515 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 78,038,058 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 69,185,709 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 63,321,405 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>332,950,158 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,106,659,736 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,086,550,449 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>935,788,760 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>848,159,211 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>766,198,688 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,780,853 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 59,100,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 51,100,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,100,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,100,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,100,000 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (132,533)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (440,514)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (440,514)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (431,048)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (298,015)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (269,093)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Capital reserves</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,823 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,973 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,973 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Profit reserves</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,886,945 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49,481,227 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,027,816 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49,920,020 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,765,349 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 34,122,503 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Additional paid-in capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21,209 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,496 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,496 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,496 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,496 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,496 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>546,862 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,817,659 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (398,708)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,002,724)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (659,501)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,102,887)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,208,012 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,338,990 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,907,381 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,096,710 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,153,439 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>927,314 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Equity attributable to controlling shareholders</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,322,171 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>117,403,831 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>105,302,444 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 90,789,427 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 82,167,741 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 71,884,306 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Non-controlling interest&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>87,211 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>289,873 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>176,763 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>125,335 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>124,064 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>218,620 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,409,382 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>117,693,704 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>105,479,207 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 90,914,762 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 82,291,805 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,102,926 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total liabilities and equity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>368,359,540 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,224,353,440 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,192,029,656 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,026,703,522 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>930,451,016 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>838,301,614 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="100%" colSpan=7>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></B></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts stated in U.S. dollars have been translated from Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> at an exchange rate of R$3.3238 per US$ 1.00, the Central Bank exchange rate on March 29, 2018. Such translations should not be construed as a representation that the Brazilian</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> amounts presented have been or could be converted into U.S. dollars at that rate.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Exchange Rate Information</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Over the past years, the exchange rate between the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and the U.S. dollar has experienced significant variation:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2013, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciated 14.6% against the U.S. dollar, reaching R$2.3426 as of December 31, 2013.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2014, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciated 13.4% against the U.S. dollar, reaching R$2.6562 as of December 31, 2014. In 2015, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>depreciated 47.0% against the U.S. dollar, reaching R$3.9048 as of December 31, 2015. In 2016, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> appreciated 16.5% against the U.S. dollar, reaching R$3.2591 as of December 31, 2016. In 2017, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciated 1.5% against the U.S. dollar, reaching R$3.3080 as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On March 29, 2018, the exchange rate was R$3.3238 per US$1.00, a depreciation of 0.5% of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar, when compared to December 31, 2017. Under the current floating exchange-rate system, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> may be subject to fluctuations and depreciation or appreciation against the U.S. dollar and other currencies.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table sets forth the period&#8209;end, average and high and low selling rates reported by the Central Bank at closing, for the periods and dates indicated:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>8</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT style="FONT-SIZE: 11pt"><FONT style="FONT-FAMILY: Calibri">3.B. Capitalization and Indebtedness</FONT></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Period</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Period-End</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>High<SUP> (1)</SUP></FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Low <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3426 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.1641 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3725 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9754 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.6562 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3586 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.6562 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2025 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.9048 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3314 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.9729 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.6562 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2591 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.4849 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.0428 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1811 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>October</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2769 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1933 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3082 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0993 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>November</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2616 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1990 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3082 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0993 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3080 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2074 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3082 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0993 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>January</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1624 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2352 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3080 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1624 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>February</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2449 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2384 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3080 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1624 </FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>March</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3238 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2598 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3238 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1624 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=5>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Average, high and low month end rates from December of the previous period.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Source: Central Bank.</FONT></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577588"></A><A name="_Toc415063366"></A><A name="_Toc292442690"></A><A name="_Toc288278516"></A><A name="_Toc288271589"></A><A name="_Toc261485994"></A><A name="_Toc257080051"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>3.B. Capitalization and Indebtedness</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577589"></A><A name="_Toc415063367"></A><A name="_Toc292442691"></A><A name="_Toc288278517"></A><A name="_Toc288271590"></A><A name="_Toc261485995"></A><A name="_Toc257080052"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>3.C. Reasons for the Offer and Use of Proceeds</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577590"></A><A name="_Toc435449744"></A><A name="_Toc415063368"></A><A name="_Toc292442692"></A><A name="_Toc288278518"></A><A name="_Toc288271591"></A><A name="_Toc261485996"></A><A name="_Toc257080053"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>3.D. Risk Factors</FONT></B></H1></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Macroeconomic risks</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>The current weakness in Brazilian macroeconomic conditions and the market perception of certain economic and political risks alongside uncertainties relating to Brazil, including high-profile anti-corruption investigations, may have a material adverse effect on our financial condition and on the results of operations.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The vast majority of our operations are conducted in Brazil and, accordingly, our results are significantly impacted by macroeconomic conditions in Brazil. The reorientation of the Brazilian economic policy, initiated in 2016, enabled the advancement of measures aimed at minimizing imbalances and raising the potential for growth. The anchoring of inflation expectations allowed the Central Bank to reduce the basic interest rate to the lowest level in history. From the fiscal perspective, despite advancements such as the approval of the Long Term Index (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxa de Longo Prazo</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) or (&#8220;TLP&#8221;) and the recovery of revenues, concern regarding sustainability of Brazil&#8217;s national debt remained present, especially in light of the lack of progress in relation to pension reform.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The executive branch of the Brazilian government (or Federal Government) sought a vote on pension reform by Congress during the first half of 2018, which could only be achieved through an amendment to the Brazilian Federal Constitution (the "Brazilian Constitution"). However, due to the upcoming presidential, governors, senators and congressman elections in October 2018 and other political matters, the pension reform voting was postponed until after the elections or in 2019. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On February 16, 2018, President Michel Temer, by means of Decree No. 9,288/18 approved by the National Congress, determined a federal intervention in the State of Rio de Janeiro until December 31, 2018. The Brazilian Constitution cannot be amended during a federal intervention, pursuant to article 60, paragraph 1. On this basis, we believe that pension reform can only be voted on in 2019. However, it is important to highlight that, in accordance with the Brazilian Constitution, the intervention period may be reduced if the reasons for the intervention cease. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If pension reform is not voted by the end of 2018, we cannot predict if this will be pursued by the next president.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2014, the Brazilian Federal Police and the Prosecution Office commenced a series of anti-corruption investigations called "Operation Car Wash" ("</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Opera&#231;&#227;o Lava Jato</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>") in which, among other </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>9</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>matters, certain officers and employees of Petr&#243;leo Brasileiro S.A. ("Petrobras"), a Brazilian state-controlled company, were accused of accepting illegal payments in order to wrongly influence commercial decisions of Petrobras. During the course of 2014, 2015 and 2016, these anti-corruption investigations have expanded and have given rise to various criminal proceedings involving not only senior officers and employees of Petrobras but also senior officers of companies in Brazil, notably in the construction sector and some politicians. In the U.S., the SEC and the Department of Justice are also conducting their own investigations into a number of these allegations. The high-profile nature of these investigations may have momentarily harmed the reputation of Brazil, which could reduce investor confidence, making it more difficult for companies located in Brazil to obtain funding. We cannot predict how long the anti-corruption investigations will continue, or how significant the effects of the anti-corruption investigations may be for the Brazilian economy. If uncertainty surrounding the Brazilian economy continues, or if there is a material reduction in investor confidence as a result of these investigations, the results of our operations may be adversely affected.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, our subsidiary Banco Bradesco BBI S.A. (&#8220;Bradesco BBI&#8221;) is a party to certain legal and administrative proceedings filed against Petrobras and other defendants, due to its role as underwriter in a note offering of Petrobras. An agreement in principle was reached to settle those proceedings in January 2018, though it must be ratified by a judge before coming into effect. We or our subsidiaries may become a party to other legal and/or administrative proceedings against Petrobras or other companies which have not yet been filed. A negative outcome of these ongoing legal proceedings or any new legal proceedings may harm our reputation and may adversely affect our financial condition and our results of operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On December 2, 2015, the Brazilian House of Representatives opened impeachment proceedings against the then-President Dilma Rousseff, alleging non-compliance with the fiscal responsibility law. The Brazilian House of Representatives and the Brazilian Senate voted in favor of the admissibility of the impeachment proceedings on April 17, 2016 and on May 12, 2016, respectively. Due to the favorable vote of the Senate, President Rousseff was removed from the presidency for up to 180 days to defend herself in her impeachment trial. During the 180-day trial period, the Vice-President of Brazil acted as President. On August 10, 2016, the Brazilian Senate approved the report of its special impeachment committee which recommended that President Dilma Rousseff should be brought to trial by the upper house of the Brazilian legislature. On August 31, 2016, President Dilma Rousseff was found guilty, losing her mandate, and Vice-President Michel Temer took office for the remainder of the term until January 1, 2019.&nbsp; However, the resolution of the political and economic crisis in Brazil still depends on the outcome of the &#8220;Lava Jato&#8221; investigation and on the approval of reforms that are being promoted by the new President. Further, the initial mandate by Dilma Rousseff and Michel Temer following the general election in 2014 was under review by the Superior Election Tribunal (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tribunal Superior Eleitoral</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), but the charges against Michel Temer were dismissed. In May 2017, the Brazilian media revealed new allegations of corruption involving businessmen and certain high-profile political figures, including President Temer, which had a significant effect on the stock market and the value of the real. The Attorney-General presented two accusations against Mr. Temer before the Brazilian Supreme Court (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Supremo Tribunal Federal</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>), or ("STF"), on June 26, 2017 and on September 15, 2017, respectively. The Brazilian House of Representatives voted against the admissibility of both charges, on August 2, 2017 and on October 25, 2017, respectively. Approval of the Brazilian House of Representatives is a necessary requirement for the STF to judge a Brazilian President during his term in office. Any further allegations involving the President are yet to be confirmed through judicial and official investigations, however, they could lead to uncertainty regarding the possibility of Michel Temer facing judicial actions and/or an impeachment process. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For instance, on February 27, 2018, the STF authorized an extension for 60 days of the investigation into whether Michel Temer accepted bribes to benefit companies in the Port of Santos, and on March 5, 2018 it authorized the disclosure of the President's banking information. The progress of this investigation and the possibility of new accusations may significantly change the Brazilian political climate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The continuation of any of, or combination of, these factors may lead to a further slowdown in GDP growth, which may have an adverse effect on our financial condition and our results of operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The government exercises influence over the Brazilian economy, and Brazilian political and economic conditions have a direct impact on our business.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our financial condition and results of operations are substantially dependent on Brazil&#8217;s economy, which in the past has been characterized by frequent and occasionally drastic intervention by the government and volatile economic cycles.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the past, the Brazilian government has often changed monetary, fiscal, taxation and other policies to influence the course of Brazil&#8217;s economy. We have no control over, and cannot predict, what measures or </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>10</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>policies the government may take in response to the current or future Brazilian economic situation or how </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>government</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> intervention and government policies will affect the Brazilian economy and our operations and revenues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our operations, financial condition and the market price of our shares, preferred share ADSs and common share ADSs may be adversely affected by changes in certain policies related to exchange controls, tax and other matters, as well as factors such as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exchange rate</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> fluctuations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>base interest rate fluctuations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>domestic economic growth;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>political, social or economic instability;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>monetary policies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>tax policy and changes in tax regimes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exchange controls policies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>liquidity of domestic financial, capital and credit markets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our customers' capacity to meet their </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>other </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>obligations with us;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>decreases in wage and income levels;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increases in unemployment rates;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>macroprudential measures;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inflation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>allegations of corruption against political parties, public officials, including allegations made in relation to the "Operation Car Wash" investigation, among others; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>other political, diplomatic, social and economic developments within and outside of Brazil that affect the country.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in, or uncertainties regarding, the implementation of the policies listed above could contribute to economic uncertainty in Brazil, thereby increasing the volatility of the Brazilian securities market and reducing the value of Brazilian securities traded internally or abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Historically, the country&#8217;s political scenario has influenced the performance of the Brazilian economy and political crises have affected the confidence of investors and the general public, which resulted in economic deceleration and heightened volatility in the securities issued abroad by companies based in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>I</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>n October 2018, Brazil will have presidential elections and we cannot guarantee that the successor of President Michel Temer will maintain the same economic policies adopted by the previous management. If the Brazilian government decides to make significant changes in the economic policy, as from 2019, these changes may adversely affect our operating results and the market value of our shares, preferred shares ADSs and common shares ADSs, as well as the Brazilian economy in overall.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, uncertainties about the current and future government can influence the perception of risk of Brazil among foreign investors, which can in turn adversely affect the market value of our shares, preferred shares ADSs and common shares ADSs. The market value of Brazilian companies became more volatile during the previous presidential elections.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currency exchange variations may have an adverse effect on the Brazilian economy and on our results and financial condition.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fluctuations in the value of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> may impact our business. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>After an extended period of appreciation, interrupted only in late 2008 as a result of the global crisis, the Brazilian </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> started to weaken in mid-2011. This trend accelerated during the following four years and was </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interrupted in</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 2016. Weaker currency periods make certain local manufacturers (particularly exporters) more competitive but also make managing economic policy, particularly inflation, increasingly difficult, even with a slowdown in growth. A weaker real also adversely impacts companies based in Brazil with U.S. dollar indexed to and/or denominated debt.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>11</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=right><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the net exposure in relation to our assets and liabilities denominated in, or indexed to, foreign currencies (primarily U.S. dollars) was 4.4% of our total assets. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the Brazilian currency devaluates or depreciates, we </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>risk</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> losses on our liabilities denominated in, or indexed to, foreign currencies, such as our U.S. dollar denominated long term debt and foreign currency loans, and experience gains on our monetary assets denominated in or indexed to foreign currencies, as the liabilities and assets are translated into </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Accordingly, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>if our liabilities denominated in, or indexed to, foreign currencies significantly exceed our monetary assets denominated in, or indexed to, foreign currencies, including any financial instruments entered into for hedging purposes, a large devaluation or depreciation of the Brazilian currency could materially and adversely affect our financial results and the market price of our shares, preferred share ADSs and common share ADSs, even if the value of the liabilities has not changed in their originated currency. In addition, our lending transactions depend significantly on our capacity to match the cost of funds indexed to the U.S. dollar with the rates charged to our customers. A significant devaluation or depreciation of the U.S. dollar may affect our ability to attract customers on such terms or to charge rates indexed to the U.S. dollar.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conversely, when the Brazilian currency appreciates, we may incur losses on our monetary assets denominated in, or indexed to, foreign currencies, mainly, the U.S. dollar, and</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> we may experience decreases in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our liabilities denominated in, or indexed to, foreign </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>currencies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as the liabilities and assets are translated into </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. Therefore, if our monetary assets denominated in, or indexed to, foreign </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>currencies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> significantly exceed our liabilities denominated in, or indexed to, foreign </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>currencies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, including any financial instruments entered into for hedging purposes, a large appreciation of the Brazilian currency could materially and adversely affect our financial results even if the value of the monetary assets has not changed in their originated currency.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If Brazil experiences substantial inflation in the future, our revenues and our ability to access foreign financial markets may be reduced.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazil has, in the past, experienced extremely high rates of inflation. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Inflation and governmental measures to combat inflation had significant negative effects on the Brazilian economy and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>contributed to increased economic uncertainty in Brazil and heightened volatility in the Brazilian securities markets, which may have an adverse effect on us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The memory of and potential for inflation, is still present, despite the monetary stability achieved in the mid-1990s, which intensified after 1999 as a result of the adoption of inflation targeting norms. There are still concerns that inflation levels might rise again in the future. Current economic policy in Brazil is premised on a monetary regime which the Central Bank oversees in order to assure that the effective rate of inflation keeps in line with a predetermined and previously announced target. In 2017, Brazil&#8217;s rates of inflation reached 3.0%, 6.3% in 2016 and 10.7% in 2015, as measured by the Extended Consumer Price Index - &#8220;IPCA&#8221; (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#205;ndice Nacional de Pre&#231;os ao Consumidor Amplo</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The recent government measures to combat inflation include maintaining an expansive monetary policy to reduce the interest rates in order to increase the availability of credit and drive the economic growth. Decreases in the base interest rate (&#8220;SELIC&#8221;) set by the Central Bank Committee on Monetary Policy (Comit&#234; de Pol&#237;tica Monet&#225;ria &#8211; &#8220;COPOM&#8221;) may have an adverse effect on us by reducing the interest income we receive from our interest-earning assets and lowering our revenues and margins. Increases in SELIC rate may also have an adverse effect on us by reducing the demand for our credit, and increasing our cost of funds, domestic debt expense and the risk of customer default. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Future government actions, including </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the imposition of taxes</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, intervention in the foreign exchange market and actions to adjust or fix the value of the real</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as any GDP growth different from expected levels</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> may trigger increases in inflation. If Brazil experiences fluctuations in rates of inflation in the future, our costs and net margins may be affected and, if investor confidence lags, the price of our securities may fall. Inflationary pressures may also affect our ability to access foreign financial and capital markets and may lead to counter-inflationary policies that may have an adverse effect on our business, financial condition, results of&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>operations</FONT> and the market value of our shares, preferred share ADSs and common share ADSs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in base interest rate by the Central Bank may materially adversely affect our margins and results of operations.</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The stabilization of inflation allowed the Central Bank to reduce the basic interest rate to the lowest level in history. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The base interest rate (SELIC) was 7.0%, 13.75% and 14.25% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per annum </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(&#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.&#8221;)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> as of December 31, 2017, 2016 and 2015, respectively. Changes in the base interest rate may adversely affect our results of&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>operations</FONT> as we have assets and liabilities indexed to the SELIC. At the same time, high base interest rates may increase the likelihood of customer delinquency, due to the deceleration in the </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>economic activity. Similarly, low base interest rates may increase the leverage of borrowers, generating additional risk to financial system.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The COPOM adjusts the SELIC rate in order to keep inflation within the range of targets set by the National Monetary Council (CMN) to manage aspects of the Brazilian economy, including the protection of reserves and capital flows. We have no control over the SELIC rate or how often such a rate is adjusted.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Developments and the perception of risk in Brazil and other countries, especially emerging market countries, may adversely affect the market price of Brazilian securities, including our shares, preferred share ADSs and common share ADSs.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The market value of securities of Brazilian companies is affected to varying degrees by economic and market conditions in other countries, including other Latin American and emerging market countries. Although economic conditions in these countries may differ significantly from economic conditions in Brazil, investors' reactions to developments in these other countries may have an adverse effect on the market value of securities of issuers based in Brazil. Crises in other emerging market countries may diminish investor interest in securities of issuers based in Brazil, including ours, which could adversely affect the market price of our shares, preferred share ADSs and common share ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The exit of the United Kingdom (the &#8220;U.K&#8221;) from the European Union could adversely impact global economic or market conditions.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On June 23, 2016, the U.K. electorate voted in a general referendum in favor of the U.K.&#8217;s exit from the European Union (so-called &#8220;Brexit&#8221;). O</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>n March 29, 2017, the U.K. gave formal notice under Article 50 of the Treaty on European Union of its intention to leave the European Union</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. The announcement of Brexit caused significant volatility in global stock markets and currency exchange rate fluctuations. The ongoing process of negotiations between the U.K. and the European Union will determine the future terms of the U.K.&#8217;s relationship with the European Union, including access to European Union markets, either during a transitional period or more permanently. Brexit could lead to potentially divergent laws and regulations as the U.K. determines which European Union laws to replace or replicate. Uncertainty regarding the terms of Brexit, and its eventual effects once implemented, could adversely affect European or global economic or market conditions and investor confidence. This could, in turn, adversely affect our business and/or the market value of our shares, preferred share ADSs and common share ADSs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our investments in debts issued by the Brazilian government expose us to additional risks associated with Brazil.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We invest in debt securities issued by the Brazilian government. The trading price of these securities is affected by, among other things, market conditions in Brazil, the perception of Brazil and the related perception of the Brazilian government's ability to repay principal and/or make interest payments.&nbsp; Accordingly, adverse developments or trends in any of these areas could have a knock-on adverse effect on the value of our securities portfolio, thereby affecting our financial condition and results of operations.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Risks relating to us and the Brazilian banking industry</FONT></I></B></H5>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We may be subject to negative consequences of the judicial process arising from Operation Zelotes, including the filing of a class- action lawsuit.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On May 31, 2016, a lawsuit was filed against three members of our Diretoria Executiva, within the so-called "Opera&#231;&#227;o Zelotes&#8221; or &#8220;Operation Zealots,&#8221; which investigates the alleged improper performance of members of the Federal Administrative Tax Court (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conselho Administrativo de Recursos Fiscais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; "CARF"). On July 28, 2016, the Federal Public Prosecution Office pressed charges against three officers of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and a former member of our Board of Directors. The charges were received for processing by the Judge of the Tenth Federal District Court of the Federal District of Brazil. The executives have already submitted their respective defenses in the criminal proceeding and moved to dismiss the charges against them. At present, two of the three members of our Organization remain defendants in the proceeding. The process went through discovery phase and the next step is the presentation of closing arguments by the parties. After that, the judge will give a decision on the merits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Our Management conducted an internal evaluation of the records and documents related to the indictment and found no evidence of any unlawful conduct by our representatives. We provided all informations to the competent authorities and regulators in Brazil and abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Following news reports of the Operation Zealots, a putative class-action lawsuit was filed in the US District Court for the Southern District of New York on June 3, 2016 asserting claims under Sections 10(b) and 20(a) of the U.S. Securities Exchange Act of 1934. On October 21, 2016, the Court-appointed Lead </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>13</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Plaintiff submitted an Amended Class Action Complaint naming us and the three members of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>who were indicted. The lawsuit alleges that investors who purchased our preferred ADSs between April 30, 2012 and July 27, 2016 suffered damages due to a supposed violation of U.S. securities laws. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On September 29, 2017, the Court decided to limit the claim to investors who acquired preferred ADSs between August 8, 2014 and July 27, 2016. The discovery phase has started and, because the lawsuit is in a preliminary stage, it is not possible at present to estimate the exposure and not enough elements are available to conduct a risk assessment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We were also summoned by the internal affairs committee of the Brazilian Ministry of Finance to follow an Administrative Procedure to Determine Liability (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Processo Administrativo de Responsabiliza&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; &#8220;PAR&#8221;). This procedure carries the possibility of a fine being levied against us and/or inclusion of our name in public lists which may in turn restrict our ability to conduct business with state-owned entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Developments in the criminal proceeding may result in negative publicity for us, and we cannot predict what conclusion the Courts and other authorities may come to in connection with it. An adverse conclusion of this proceeding could result in legal exposure and other penalties for us negatively affect our reputation, financial condition and results of <FONT style="FONT-SIZE: 10pt" face=Arial>operations</FONT>.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We may be subject to negative consequences from the &#8220;Operation Greenfield&#8221; investigation.</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Federal Police is conducting an investigation called "Opera&#231;&#227;o Greenfield," or "Operation Greenfield," into allegations of fraud involving certain pension funds.&nbsp;</FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our wholly-owned subsidiaries BEM - Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>("BEM") and BRAM - Bradesco Asset Management S.A. Distribuidora de T&#237;tulos e Valores Mobili&#225;rios ("BRAM"), as well as two of their managers were mentioned by the Federal Police in relation to Operation Greenfield as they were responsible for the administration and management of an Equity Investment Fund, named&nbsp;Fundo de Investimento em Participa&#231;&#245;es FIP Enseada (&#8220;FIP Enseada&#8221;). In the course of the investigation, the Federal Court authorized the seizing of a number of documents, and blocked the assets of BEM.&nbsp;In order to have its assets unblocked, BEM, together with BRAM signed a commitment, which was approved by the Tenth Federal Court of the Federal District, to release their assets in exchange for the provision of guarantees totaling R$104 million.&nbsp;In December 2017, an agreement between BEM, BRAM, Funda&#231;&#227;o Petrobras de Seguridade Social &#8211; PETROS, Funda&#231;&#227;o dos Economi&#225;rios Federais &#8211; FUNCEF, Ag&#234;ncia de Fomento do Estado do Amazonas S/A &#8211; AFEAM (all investors of FIP Enseada), and the Federal Public Prosecution Office was affirmed by the Tenth Federal Court of the Federal District pursuant to which: (i) BEM and BRAM committed to pay R$113 million; (ii) BEM, BRAM and its managers and officers committed to provide any clarifications to the authorities responsible for conducting this investigation, regardless of a formal subpoena; and (iii) BEM and BRAM committed to perform an independent internal investigation, in exchange for having their guarantees released. On December 11, 2017, the payment was made and the guarantees were released. BEM and BRAM did not acknowledge any civil or criminal liability by entering into this commitment.&nbsp;Additionally, internal evaluations indicate that there was no illegal conduct in the activities and the corresponding reports were submitted to the Federal Public Prosecution Office.&nbsp; The ongoing Operation Greenfield investigation may result in negative publicity for us and our subsidiaries, and we cannot predict what conclusion the Federal Police and other competent authorities, especially the Federal Public Prosecution Office may come to in connection with this investigation.&nbsp;A conclusion adverse to BEM and BRAM, or their managers, could negatively affect our reputation, financial condition and results of operations. <FONT style="FONT-SIZE: 10pt" face=Arial>I</FONT>n March&nbsp;2018, the Federal Public Prosecution Office commenced proceedings in relation to the Operation Greenfield investigation. These proceedings did not include any of our officers, directors or employees.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We may experience increases in our level of past due loans as our loans and advances portfolio becomes more seasoned.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Historically, our loans and advances to customer portfolios registered an increase.However in 2017, due to the recession in the Brazilian economy, it experienced a decrease. Any corresponding rise in our level of non-performing loans and advances may lag behind the rate of loan growth, as loans typically </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>do not have due payments for a short period of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>time after their origination. Levels of past due loans are normally higher among our individual clients than our corporate clients. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, our provision for impairment of loans and advances increased by 9.2% when compared to December 31, 2016, while our portfolio of loans and advances to customers decreased by 4.7% driven by the reduction of corporate customers' outstanding loans (which reduced 9.6%). Outstanding loans for individuals increased 1.8% over that same period. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2016, our provision for the impairment of loans and advances decreased by 2.6% when compared to December 31</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, 2015, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>while our portfolio of loans and advances to customers increased by 5.9% over that same period (driven principally by our acquisition of the operations of HSBC Brasil).</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>O</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ur delinquency ratios, calculated based on information prepared in accordance with accounting practices adopted in Brazil (&#8220;BR GAAP&#8221;), which is defined as the total <FONT style="FONT-SIZE: 10pt" face=Arial>loans </FONT>overdue for over ninety days in relation to the total portfolio of loans and advances decreased </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to 4.7% in 2017. In 2016, our delinquency ratio increased&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>to</FONT> 5.5%, compared to 4.1% in 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rapid loan growth may also reduce our ratio of non-performing loans to total loans until growth slows or the portfolio becomes more seasoned. Adverse economic conditions and a slower growth rate for our loans and advances to customers may result in increases in our impairment of loans and advances, charge-offs and our ratio of non-performing loans and advances to total loans and advances, which may have an adverse effect on our business, financial condition and results of operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Adverse conditions in the credit and capital markets, just like the value and/or perception of value of Brazilian government securities, may adversely affect our ability to access funding in a cost effective and/or timely manner.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Volatility and uncertainties in the credit and capital markets have generally decreased liquidity, with increased costs of funding for financial institutions and corporations. These conditions may impact our ability to replace, in a cost effective and/or timely manner, maturing liabilities and/or access funding to execute our growth strategy. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Part of our funding originates from repurchase agreements, which are largely guaranteed by Brazilian government securities. These types of transaction are generally short-term and volatile in terms of volume, as they are directly impacted by market liquidity. As these transactions are typically guaranteed by Brazilian government securities, the value and/or perception of value of the Brazilian government securities may be significant for the availability of funds. For example, if the quality of the Brazilian government securities used as collateral is adversely affected, due to the worsening credit risk, the cost of these transactions could increase, making this source of funding inefficient for us. For further information about obligations for repurchase agreements, see &#8220;Item 4.B. Business Overview &#8211; Other funding sources.&#8221;</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If the market shrinks, which could cause a reduction in volume, or if there is increased collateral credit risk and we are forced to take and/or pay unattractive interest rates, our financial condition and the results of our operations may be adversely affected.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The increasingly competitive environment in the Brazilian bank and insurance industries may negatively affect our business prospects.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The markets for financial, banking and insurance services in Brazil are highly competitive. We face significant competition in all of our principal areas of operation from other large banks and insurance companies, both public and private based in Brazil and internationally. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Competition has increased as a result of consolidations among financial institutions in Brazil and as a result of regulations by the CMN that facilitate customers' ability to switch business between banks. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The increased competition may materially and adversely affect us </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, among other things, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>limiting</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our ability to retain our existing consumer base</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, increasing our customer base</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and expanding our operations</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, reducing</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our profit margins on banking </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and other </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>services </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and products we offer, and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>limiting investment opportunities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The increased competition may negatively affect our business results and prospects by, among other things:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>limiting our ability to increase our customer base and expand our operations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reducing our profit margins in the banking, insurance, leasing and other services and products offered by us; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increasing competition for foreign investment opportunities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Losses on our investments in financial assets held for trading and available for sale</FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>may have a significant impact on our results of operations and are not predictable.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The value of certain investments in financial assets may decline significantly due to volatile financial markets and may fluctuate over short periods of time. As of December 31, 2017, the investments in financial assets held for trading and available for sale represented 32.8% of our assets, and realized gains and losses or unrealized gains and losses for financial assets held for trading and available for sale have had and may continue to have a significant impact on the results of our operations. The amounts of such gains and losses, which we record when investments in financial assets are sold, or in certain limited circumstances when they </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>15</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></FONT></B></P></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are recognized at fair value, may fluctuate considerably from period to period. The level of fluctuation depends, in part, upon the fair value of the financial assets, which in turn may vary considerably, and our investment policies. We cannot predict the amount of realized gain or loss for any future period, and we believe that variations from period to period have no practical analytical value. Furthermore, any gains on our investment portfolio may not continue to contribute to net income at levels consistent with recent periods, and we may not successfully realize the appreciation in our consolidated investment portfolio or any portion thereof.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We may incur losses associated with counterparty exposures.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We face the possibility that a counterparty will be unable to honor its contractual obligations. These counterparties may default on their obligations due to bankruptcy, lack of liquidity, operational failure or other reasons. This risk may arise, for example, as a result of entering into swap or other derivative contracts under which counterparties have obligations to make payments to us, executing currency or other trades that fail to settle at the required time due to non-delivery by the counterparty or systems failure by clearing agents, exchanges, clearing houses or other financial intermediaries. Such counterparty risk is more acute in complex markets where the risk of failure of counterparties is higher.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our trading activities and derivatives transactions may produce material losses.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We engage in the trading of securities, buying debt and equity securities principally to sell them in the near term with the objective of generating profits on short-term differences in price. These investments could expose us to the possibility of material financial losses in the future, as securities are subject to fluctuations in value, which may generate losses. In addition, we enter into derivatives transactions, mainly, to manage our exposure to interest rate and exchange rate risk. Such derivatives transactions are designed to protect us against increases or decreases in exchange rates or interest rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The government regulates the operations of Brazilian financial institutions and insurance companies. Changes in existing laws and regulations or the imposition of new laws and regulations may negatively affect our operations and revenues.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian banks and insurance companies are subject to extensive and continuous regulatory review by the government. We have no control over government regulations, which govern all facets of our operations, including the imposition of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>minimum capital requirements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>compulsory deposit/reserve requirements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fixed assets investment limitations</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>lending limits and other credit restrictions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>earmarked credit transactions, such as housing loans and rural credit;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>accounting and statistical requirements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>minimum coverage;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>mandatory provisioning policies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>limits and other restrictions on rates; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>limits on the amount of interest that they can charge and the period for which they can capitalize on interest.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The regulatory structure governing banks and insurance companies based in Brazil is continuously evolving. Existing laws and regulations could be amended, the manner in which laws and regulations are enforced or interpreted could change, and new laws or regulations could be adopted. Such changes could materially adversely affect our&nbsp;operations and our revenues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In particular, the government has historically enacted regulations affecting financial institutions in an effort to implement its economic policies. These regulations are intended to control the availability of credit and reduce or increase consumption in Brazil. These changes may adversely affect us because our returns on compulsory deposits are lower than those we obtain on our other investments. Regulations issued by the Central Bank are not subject to a legislative process. Therefore those regulations can be enacted and implemented in a very short period of time, thereby affecting our activities in sudden and unexpected ways.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>16</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A majority of our common shares are held, directly and indirectly, by one shareholder and none of our Board members are independent; accordingly, their interests may conflict with those of our other investors.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, Funda&#231;&#227;o Bradesco directly and indirectly held 57.0% of our common shares. As a result, Funda&#231;&#227;o Bradesco has the power, among other things, to prevent a change in control of our company, even if a transaction of that nature would be beneficial to our other shareholders, as well as to approve related party transactions or corporate reorganizations. Under the terms of Funda&#231;&#227;o Bradesco&#8217;s by-laws, members of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, that have been working with us for more than ten years serve as members of the Board of Trustees of Funda&#231;&#227;o Bradesco. The Board of Trustees has no other members. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Board of Directors has 8 members, none of whom are considered independent in accordance with the criteria included in Law No. 6,404/76 (the "Brazilian Corporate Law"), which states that only individuals may be appointed to a company's board of directors. Accordingly, there is no legal or statutory provision requiring us to have independent directors. As a result, the interests of our Board of Directors may not always be in line with the interests of our common shareholders and these holders do not have the same protections </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>they would have if most of the directors were independent</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. Furthermore, our directors are associated to Funda&#231;&#227;o Bradesco and circumstances may arise in which the interests of Funda&#231;&#227;o Bradesco, and its associates, conflict with our other investors&#8217; interests.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco and our Board of Directors could make decisions in relation to our policy towards acquisitions, divestitures, financings or other transactions, which may be contrary to the interests of holders of common shares and have a negative impact on the interests of holders of common shares. For more information on our shareholders, see &#8220;Item 7.A. Major Shareholders.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in regulations regarding reserve and compulsory deposit requirements may reduce operating margins.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank has periodically changed the level of compulsory deposits that financial institutions in Brazil are required to abide by.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Compulsory deposits generally yield lower returns than our other investments and deposits because:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a portion of our compulsory deposits with the Central Bank do not bear interest; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a portion of our compulsory deposits must finance a federal housing program, the Brazilian rural sector, low income customers and small enterprises under a program referred to as a "microcredit program."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rules related to compulsory deposits have been changed from time to time by the Central Bank, as described in "Item 4.B. Business Overview - Deposit-taking activities."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, our compulsory deposits in connection with demand, savings and time deposits and additional compulsory deposits were R$66.7 billion. Reserve requirements have been used by the Central Bank to control liquidity as part of monetary policy in the past, and we have no control over their imposition. Any increase in the compulsory deposit requirements may reduce our ability to lend funds and to make other investments and, as a result, may adversely affect us. For further information on compulsory deposits, see "Item 4.B. Business Overview- Deposit - taking activities."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in taxes and other fiscal assessments may adversely affect us.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The government regularly enacts reforms to the tax and other assessment regimes to which we and our customers are subject. Such reforms include changes in the rate of assessments and, occasionally, enactment of temporary taxes, the proceeds of which are earmarked for designated governmental purposes. The effects of these changes and any other changes that result from enactment of additional tax reforms have not been, and cannot be, quantified. There can be no assurance that these reforms will not, once implemented, have an adverse effect upon our business. Furthermore, such changes may produce uncertainty in the financial system, increasing the cost of borrowing and contributing to the increase in our non-performing portfolio of loans and advances.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Constitution used to establish a ceiling on loan interest rates and if the government enacts new legislation with a similar effect in the future, our results of operations may be adversely affected.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Article 192 of the Brazilian Constitution, enacted in 1988, established a 12.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a. </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ceiling on bank loan interest rates. However, since the enactment of the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Constitution, this rate had not been enforced, as the regulation regarding the ceiling was pending. The understanding that this ceiling is not yet in </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>17</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>force has been confirmed by </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>S&#250;mula Vinculante</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> No. 7, a final binding decision enacted in 2008 by the STF, in accordance with such Court&#8217;s prior understanding on this matter. Since 1988, several attempts were made to regulate the limitation on loan interest, and especially bank loan interest rates, but none of them were implemented nor have been confirmed by Brazilian superior courts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On May 29, 2003, Constitutional Amendment No. 40 (&#8220;EC 40/03&#8221;) was enacted and revoked all subsections and paragraphs of Article 192 of the Brazilian Constitution. This amendment allows the Brazilian Financial System, to be regulated by specific laws for each sector of the system rather than by a single law relating to the system as a whole.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With the enactment of Law No. 10,406</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/02 (or the &#8220;Civil Code&#8221;), </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>unless the parties to a loan have agreed to use a different rate, in principle the interest rate ceiling has been </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pegged</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to the base rate charged by the National Treasury </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Office (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tesouro Nacional</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>). There is currently an uncertainty as to whether such base rate which is referred to in the Civil Code is: (i) the Special Clearing and Settlement System (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sistema Especial de Liquida&#231;&#227;o e Cust&#243;dia</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) rate, which we call the SELIC </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>rate, the base interest rate established by COPOM, which was 7.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> as of December 31, 2017 and 13.75% </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> as of December 31, 2016; or (ii) the 12.0% </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>rate established in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Article 161, paragraph 1, of Law No. 5,172, of October 25, 1966, as amended (&#8220;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Tax Code</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;), which is the default interest rate due when taxes are not paid on time</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Any substantial increase or decrease in the interest rate ceiling could have a material effect on the financial condition, results of operations or prospects of financial institutions based in Brazil, including us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, certain Brazilian courts have issued decisions in the past limiting interest rates on consumer financing transactions that are considered abusive or excessively onerous in comparison with market practice. Brazilian courts&#8217; future decisions as well as changes in legislation and regulations restricting interest rates charged by financial institutions could have an adverse effect on our business.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our losses in connection with insurance claims may vary from time to time. Differences between the losses from actual claims, underwriting and reserving assumptions and the related provisions may have an adverse effect on us.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The results of our operations depend significantly upon the extent to which our actual claims are consistent with the assumptions we used to assess our potential future policy and claim liabilities and to price our insurance products. We seek to limit our responsibility and price our insurance products based on the expected payout of benefits, calculated using several factors, such as assumptions for investment returns, mortality and morbidity rates, expenses, persistency, and certain macroeconomic factors, such as inflation and interest rates. These assumptions may deviate from our prior experience, due to factors beyond our control such as natural disasters (floods, explosions and fires), man-made disasters (riots, gang or terrorist attacks) or changes in mortality and morbidity rates as a result of advances in medical technology and longevity, among others. Therefore, we cannot determine precisely the amounts that we will ultimately pay to settle these liabilities, when these payments will need to be made, or whether the assets supporting our policy liabilities, together with future premiums and contributions, will be sufficient for payment of these liabilities. These amounts may vary from the estimated amounts, particularly when those payments do not occur until well in the future, which is the case with certain of our life insurance products. Accordingly, the establishment of the related provisions is inherently uncertain and our actual losses usually deviate, sometimes substantially, from such estimated amounts. To the extent that actual claims are less favorable than the underlying assumptions used in establishing such liabilities, we may be required to increase our provisions, which may have an adverse effect on our financial condition and results of operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><A name="_Toc257150826"></A><A name="_Toc257122864"></A><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are liable for claims of our customers if our reinsurers fail to meet their obligations under the reinsurance contracts.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The purchase of reinsurance does not hold us harmless against our liability towards our clients if the reinsurer fails to meet its obligations under the reinsurance contracts. As a result, reinsurers' insolvency or failure to make timely payments under these contracts could have an adverse effect on us, given that we remain liable to our policyholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A failure in, or breach of, our operational, security or technology systems could temporarily interrupt our businesses, increasing our costs and causing losses. </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We constantly invest in the improvement and evolution of the safety controls, resilience, continuity and</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>management of our information technology systems and as a result have created an environment with a high capacity to process data for our operating systems and our financial and accounting systems. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our information technology systems could suffer shortages or become unavailable for a given period of time due to external factors, including events which are wholly or partially beyond our control, such as: </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>18</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cyber-attacks, protests which could prevent individuals from entering our buildings, changes to the regulatory framework, electrical or telecommunications outages, systems failures, resulting from human error or not, or other events involving third parties and suppliers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Due to the nature of our operations as well as the global context, where there is an ever-increasing integration among platforms, dependency on technology and on the internet, a higher exposure to viruses, malicious software and cyber-attacks is a business reality, which may unexpectedly impair the operations and integrity of our systems that manage and store sensitive and/or confidential information for our business and operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We and other financial institutions, including governmental entities, have already experienced attacks on our information technology systems. Due to the controls we have in place, we have not experienced any material loss of data from these attacks to date, neither from a hardware nor from a data information loss perspective.&nbsp; However, considering the use of new technologies, the increasing dependency on the internet and the changing and sophisticated nature of attacks, it is not possible to predict all the means that will be used by individuals or organizations with harmful intent , which could impact our capacity to effectively foresee and/or avoid all attacks in the future.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a result, all the risks mentioned above could result in customer attrition, regulatory fines, penalties or intervention, reimbursement or other administrative penalties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Supreme Court is currently deciding cases relating to the application of inflation adjustments which may increase our costs and cause losses.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The STF, which is the highest court in Brazil and is responsible for judging constitutional matters, is currently deciding whether savings account holders have the right to obtain adjustments for inflation related to their deposits due to the economic plans </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bresser, </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>part of</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Ver&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Collor I</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Collor II</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, implemented in the 1980s and 1990s, before the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Plano Real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in 1994. The trial began in November 2013,</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> but was recently interrupted</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. According to the institutions representing the account holders, banks misapplied the monetary adjustments when those economic plans were implemented, and should be required to indemnify the account holders for the non-adjustment of those amounts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The STF gave a ruling on an individual case, in the sense that the sentences on class actions proposed by associations questioning inflationary purges only benefit consumers who: (i) were associated with the associations at the time of filing of the class action; and (ii) had authorized the filing of the class action. This reduced the number of beneficiaries in class actions because, until then, it was understood that these decisions should benefit all consumers affected by the practices (i.e., all consumers that are current account holders and that had suffered losses related to inflationary purges, were or were not associated with the association, plaintiff of the class action).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>In addition, in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>connection with a related sentence</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>, the Brazilian </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>Supreme Court Justice</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>(&#8220;STJ&#8221;) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>decided, in May 2014, that the starting date for counting default interest for compensating savings account holders must be the date of summons of the related lawsuit (rather than the date of settlement of the judgment), therefore increasing the amount of possible losses for the affected banks in the event of an unfavorable decision by the STF</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif>.</FONT></P><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>

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<P style="MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"><FONT style="FONT-FAMILY: Arial"><FONT style="FONT-SIZE: 10pt">In December 2017, with the mediation of the Executive branch's attorney (</FONT></FONT></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: arial"><I>Advocacia Geral da Uni&#227;o</I>), or ("AGU"), the representatives of the banks and the savings account holders entered into an agreement related to the economic plans aiming to finalize the claims and established a timeline and conditions for the savings account holders to accede to such agreement. The STF affirmed the agreement on March 1, 2018, but it is still subject to appeals. As this is a voluntary settlement, Bradesco is unable to predict how many savings account holders will accede to it.It is possible that all major Brazilian banks, may incur material costs as a result.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=windowtext face=Arial,sans-serif>Our risk management structure may not be fully effective.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We fully incorporate the risk management process into all of our activities, developing and implementing methodologies, models and other tools for the measurement and control of risks, looking to continuously improve them in order to mitigate the risks that we identify.&nbsp; However, there may be limitations to this risk management framework in foreseeing and mitigating all the risks to which we are subject, or may in the future become, subject.&nbsp; If our risk management structure is not completely effective in adequately preventing or mitigating risks, we could suffer material unexpected losses, adversely affecting our financial condition and results of operations. &nbsp;For more information on our risk management structure, see "Item 4.B. </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: Calibri; LINE-HEIGHT: normal" color=windowtext>3.D. Risk Factors</FONT></B></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; Business Overview &#8211; Risk management."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We may face significant challenges in possessing and realizing value from collateral with respect to loans in default.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If we are unable to recover sums owed to us under secured loans in default through extrajudicial measures such as restructurings, our last recourse with respect to such loans may be to enforce the collateral secured in our favor by the applicable borrower.&nbsp; Depending on the type of collateral granted, we either have to enforce such collateral through the courts or through extrajudicial measures. However, even where the enforcement mechanism is duly established by the law, Brazilian law allows borrowers to challenge the enforcement in the courts, even if such challenge is unfounded, which can delay the realization of value from the collateral. &nbsp;In addition, our secured claims under Brazilian law will in certain cases rank below those of preferred creditors such as employees and tax authorities.&nbsp; As a result, we may not be able to realize value from the collateral, or may only be able to do so to a limited extent or after a significant amount of time, thereby potentially adversely affecting our financial condition and results of operations.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Risks relating to our shares, preferred share ADSs and common share ADSs.</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Deposit Agreements governing the preferred share ADSs and common share ADSs provide that holders of such ADSs will only receive voting instructions if we authorize the depositary bank to contact those holders to obtain voting instructions; and there are also practical limitations on any ability to vote we may give such holders.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The voting rights of preferred share ADS holders and common share ADS holders are governed by the Deposit Agreements. Those Deposit Agreements provide that the depositary bank shall mail voting instructions to holders only if we authorize and direct the depositary bank to do so. If we do not provide that authorization and direction to the depositary bank, holders of preferred share ADSs and common share ADSs will not be able to vote at our meetings, unless they surrender their preferred share ADSs or common share ADSs and receive the underlying preferred shares or common shares, as applicable, in accordance with the terms of the applicable Deposit Agreement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, there are practical limits on the ability of preferred share ADS and common share ADS holders to exercise any vote due to the additional procedural steps involved in communicating with such holders. For example, our shareholders will either be notified directly or through notification published in Brazilian newspapers and will be able to exercise their voting rights by either attending the meeting in person or voting by proxy. In contrast, preferred share ADS holders and common share ADS holders will not receive notice directly from us and cannot vote in person at the meeting. Instead, in accordance with the Deposit Agreements, the depositary bank will, if authorized and directed by us, send any notice of meetings of holders received by it from us to holders of preferred share ADSs and common share ADSs, together with a statement as to the manner in which voting instructions may be given by holders. To exercise any such ability to vote, preferred share ADS and common share ADS holders must then instruct the depositary bank how to vote with the shares represented by their preferred share ADSs or common share ADSs. Because of this extra step involving the depositary bank, if and when we authorize and direct the depositary bank to mail voting information to preferred share ADS holders and common share ADS holders, the process for voting will take longer for preferred share ADS and common share ADS holders than for holders of our shares. Preferred share ADSs and common share ADSs for which the depositary bank does not receive voting instructions in good time will not be able to vote at a meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian Corporate Law, holders of preferred shares have limited voting rights, accordingly, holders of preferred share ADSs will have similar limitations on their ability to vote.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian Corporate Law and our Bylaws, holders of our preferred shares are not entitled to vote at our shareholders' meetings, except in limited circumstances (see "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Voting Rights," for further information on voting rights of our shares). As such, in contrast to holders of common shares, holders of preferred shares are not entitled to vote on corporate transactions, including any proposed merger or consolidation with other companies, among other things.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As discussed above under "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Deposit Agreements governing the preferred share ADSs and common share ADSs provide that holders of such ADSs will only receive voting instructions if we authorize the depositary bank to contact those holders to obtain voting instructions; and there are also practical limitations on any ability to vote we may give such holders</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>," preferred share ADS holders will only be able to vote if we authorize and direct the depositary bank accordingly. As a result of the fact that holders of preferred shares have limited voting rights, any ability to vote that we may extend to holders of preferred share ADSs corresponding to preferred shares pursuant to the applicable Deposit Agreement would be </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>20</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>similarly limited.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The relative volatility and illiquidity of the Brazilian securities markets may substantially limit your ability to sell shares underlying the preferred share ADSs and common share ADSs at the price and time you desire.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Investing in securities that trade in emerging markets, such as Brazil, often involves greater risk than investing in securities of issuers in more developed countries, and these investments are generally considered more speculative in nature. The Brazilian securities market is substantially smaller and less liquid than major securities markets, such as the United States, and may be more volatile. Although you are entitled to withdraw our shares, underlying the preferred share ADSs and common share ADSs from the depositary bank at any time, your ability to sell our shares underlying the preferred share ADSs and common share ADSs at a price and time acceptable to you may be substantially limited. There is also significantly greater concentration in the Brazilian securities market than in major securities markets such as the United States or other countries. The ten largest companies in terms of market capitalization, according to B3, accounted for 52.2% of the aggregate market capitalization in December 2017.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shares, preferred share ADSs and common share ADSs are not entitled to a fixed or minimum dividend.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Holders of our shares and, consequently, our preferred share ADSs and common share ADSs are not entitled to a fixed or minimum dividend. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to the Deposit Agreements, if the depositary (as holder of the common shares and preferred shares underlying the common share ADSs and preferred share ADSs,) receives any cash dividend or distribution from us, it shall distribute a corresponding U.S. dollar amount, net of depositary fees and certain withholding tax adjustments as described in the Deposit Agreements, to holders of our common share ADSs and preferred share ADSs as promptly as practicable. However, if we do not pay dividends to holders of our common shares or preferred shares then there will be no payment of dividends to holders of our common share ADSs or preferred share ADSs</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to our Bylaws, our preferred shares are entitled to dividends 10.0% higher than those of our common shares. Although under our current Bylaws we are obligated to pay our shareholders at least 30.0% of our annual adjusted net income, the shareholders attending our annual general shareholders&#8217; meeting may decide to suspend this mandatory distribution of dividends if the Board of Directors advises that payment of the dividend is not compatible with our financial condition. Neither our Bylaws nor Brazilian law specify the circumstances in which a distribution would not be compatible with our financial condition, and our controlling shareholders have never suspended the mandatory distribution of dividends. However, Brazilian law provides that a company need not pay dividends if such payment would endanger the existence of the company or harm its normal course of operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2013, CMN Resolution No. 4,193/13 was issued in an effort to further implement the Basel III Accord in Brazil. Pursuant to such rule, a restriction of dividend and interest payments on equity may be imposed by the Central Bank in the event of non-compliance with the additional capital requirements established by the Central Bank, as further described in "Item 5.B. Liquidity and Capital Resources &#8211; Capital adequacy and leverage.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a holder of preferred share ADSs and common share ADSs you will have fewer and less well&#8209;defined shareholders' rights than in the United States and certain other jurisdictions.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our corporate affairs are governed by our Bylaws and Brazilian Corporate Law, which may differ from the legal principles that would apply if we were incorporated in a jurisdiction in the United States or in certain other jurisdictions outside Brazil. Under Brazilian Corporate Law, you and the holders of our shares may have fewer and less well&#8209;defined rights to protect your interests relative to actions taken by our Board of Directors or the holders of our common shares than under the laws of other jurisdictions outside Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Although Brazilian Corporate Law imposes restrictions on insider trading and price manipulation, the Brazilian securities markets are not as highly regulated and supervised as the U.S. securities markets or markets in certain other jurisdictions. In addition, in Brazil, self&#8209;dealing and the preservation of shareholder interests may be less heavily regulated and what regulations are in place may not be as strictly enforced in Brazil as in the United States, which could potentially disadvantage you as a holder of our shares underlying preferred share ADSs and common share ADSs. For example, compared to Delaware general corporation law, Brazilian Corporate Law and practices have less detailed and well&#8209;established rules and judicial precedents relating to review of management decisions under duty of care and duty of loyalty standards in the context of corporate restructurings, transactions with related parties, and sale-of-business transactions. In addition, shareholders in Delaware companies must hold 5.0% of the outstanding share capital of a </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>21</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>corporation to have valid standing to bring shareholder derivative suits, while shareholders in companies based in Brazil do not normally have valid standing to bring a class action.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>It may be difficult to bring civil liability causes against us or our directors and executive officers.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are organized under the laws of Brazil, and all of our directors and executive officers reside outside the United States. In addition, a substantial portion of our assets and most or all of the assets of our directors and executive officers are located in Brazil. As a result, it may be difficult for investors to effect service of process within the United States or other jurisdictions outside of Brazil on such persons or to enforce judgments against them, including any based on civil liabilities under the U.S. federal securities laws.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If we issue new shares or our shareholders sell shares in the future, the market price of your preferred share ADSs and common share ADSs may be reduced.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sales of a substantial number of shares, or the belief that this may occur, could decrease the market price of our shares, preferred share ADSs and common share ADSs, by diluting their value. If we issue new shares or our existing shareholders sell the shares they hold, the market price of our shares and therefore the market price of our preferred share ADSs and common share ADSs, may decrease significantly. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The payments on the </FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>preferred share ADSs and common share ADSs</FONT></I></B><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> may be subject to U.S. withholding under the </FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign Account Tax Compliance Act</FONT></I></B><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (&#8220;FATCA&#8221;).</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The United States has enacted rules, commonly referred to as FATCA, that generally impose a new reporting and withholding regime with respect to certain U.S. source payments (including interest and dividends), gross proceeds from the disposition of property that can produce U.S. source interest and dividends and certain payments made by entities that are classified as financial institutions under FATCA. The United States has entered into an intergovernmental agreement regarding the implementation of FATCA with Brazil (the &#8220;IGA&#8221;). Under the current terms and conditions of the IGA, we do not expect payments made on or with respect to the preferred share ADSs or common share ADSs to be subject to withholding under FATCA. However, significant aspects of when and how FATCA will apply remain unclear, and no assurance can be given that withholding under FATCA will not become relevant with respect to payments made on or with respect to the preferred share ADSs or common share ADSs in the future. Similar to the FATCA, the Common Reporting Standard ("CRS") is the instrument developed by the Convention on Mutual Assistance in Tax Matters of the Organization for Economic Cooperation and Development (&#8220;OECD&#8221;) and the Multilateral Competent Authority Agreement, applicable to the countries signatory to the norm. The financial institutions and entities subject to it should ensure the identification, investigation and reporting of information to the competent bodies. Prospective investors should consult their own tax advisors regarding the potential impact of FATCA and CRS. For more information about FATCA and CRS, see "Item 4.B. Business Overview &#8211; Regulation and Supervision."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>You may be unable to exercise preemptive rights relating to our shares.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>You will not be able to exercise preemptive rights relating to our shares underlying your preferred share ADSs and common share ADSs unless </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a registration statement</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> under the Securities Act </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is effective with respect to those rights or an exemption from the registration requirements of the Securities Act is available. Similarly, we may from time to time distribute rights to our shareholders. The depositary bank will not offer rights to you as a holder of the preferred share ADSs and common share ADSs unless the rights are either registered under the Securities Act</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> or are subject to an exemption from the registration requirements. We are not obligated to file a registration statement with respect to the shares or other securities relating to these rights, and we cannot assure you that we will file any such registration statement. Accordingly, you may receive only the net proceeds from the sale by the depositary bank of the rights received in respect of the shares represented by your preferred share ADSs and common share ADSs or, if the preemptive rights cannot be sold, they will be allowed to lapse. You may also be unable to participate in rights offerings by us, and your holdings may be diluted as a result. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If you exchange your preferred share ADSs or common share ADSs for their underlying shares, you risk losing Brazilian tax advantages and the ability to remit foreign currency abroad.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian law requires that parties obtain registration with the Central Bank in order to remit foreign currencies, including U.S. dollars, abroad. The Brazilian custodian for the shares must obtain the necessary registration with the Central Bank for payment of dividends or other cash distributions relating to the shares or after disposal of the shares. If you exchange your preferred share ADSs or common share ADSs for the underlying shares, however, you may only rely on the custodian's certificate for five business days from the date of exchange. Thereafter, you must obtain your own registration in accordance with the rules of the Central Bank and the CVM, in order to obtain and remit U.S. dollars abroad after the disposal of the shares </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>22</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%" align=right><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; FONT-FAMILY: calibri; LINE-HEIGHT: normal" color=windowtext>ITEM 4. INFORMATION ON THE COMPANY</FONT></B></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>or the receipt of distributions relating to the shares. If you do not obtain a certificate of registration, you may not be able to remit U.S. dollars or other currencies abroad and may be subject to less favorable tax treatment on gains with respect to the shares. For more information, see "Item 10.D. Exchange Controls." </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If you attempt to obtain your own registration, you may incur expenses or suffer delays in the application process, which could delay your receipt of dividends or distributions relating to the shares or the return of your capital in a timely manner. The custodian's registration and any certificate of foreign capital registration you may obtain may be affected by future legislative changes. Additional restrictions applicable to you, to the disposal of the underlying shares or to the repatriation of the proceeds from disposal may be imposed in the future.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577591"></A><A name="_Toc415063369"></A><A name="_Toc292442693"></A><A name="_Toc288278519"></A><A name="_Toc288271592"></A><A name="_Toc261485997"></A><A name="_Toc257080054"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 4. INFORMATION ON THE COMPANY</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc292442694"></A><A name="_Toc288278520"></A><A name="_Toc288271593"></A><A name="_Toc261485998"></A><A name="_Toc257080055"></A><A name="_Toc479577592"></A><A name="_Toc415063370"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>4.A. History and Development of the Company </FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are a </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>sociedade an&#244;nima</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> organized under the laws of Brazil. Our headquarters are in Cidade de Deus, Vila Yara, 06029&#8209;900, Osasco, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>S&#227;o Paulo</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, Brazil, and our telephone number is (55-11) 3684-4011. Our New York Branch is located at 450 Park Avenue, 32<SUP>nd</SUP> and 33<SUP>rd</SUP> floors, New York 10022.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We were founded in 1943 as a commercial bank under the name "Banco Brasileiro de Descontos S.A." In 1948, we began a period of aggressive expansion, which led to our becoming the largest private&#8209;sector (non&#8209;government&#8209;controlled) commercial bank in Brazil by the end of the 1960s. We expanded our activities nationwide during the 1970s and became well established in both urban and rural markets in Brazil. In 1988 we merged with our real estate finance, investment bank and consumer credit subsidiaries to become a multiple service bank and changed our name to &#8220;Banco Bradesco S.A.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since 2009, we operate in all Brazilian municipalities, and our large banking network enables us to be closer to our customers, thereby enabling our managers to develop knowledge as to economically active regions and other important conditions for our business. This knowledge helps us assess and mitigate risks in credit transactions, among other risks, as well as to meet the specific needs of our customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currently, we are one of the largest banks in Brazil in terms of total assets. We offer a wide range of banking and financial products and services in Brazil and abroad to individuals, large, mid&#8209;sized, small and micro enterprises and major local and international corporations and institutions. Our products and services comprise of banking&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>operations</FONT> such as loans and advances and deposit&#8209;taking, credit card issuance, purchasing consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had, on a consolidated basis:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$1.2 trillion in total assets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$373.8 billion in total loans and advances to customers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$265.2 billion in total deposits;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$117.7 billion in equity, including non-controlling interest;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$239.1 billion in technical reserves for our insurance and pension plan business;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; R$51.3 billion in foreign trading financing;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 47.6 million insurance policyholders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 25.8 million checking account holders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 63.4 million savings accounts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 2.9 million capitalization bonds holders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 2.8 million pension plan holders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; 2,198 Brazilian corporate groups and multinational companies in Brazil as &#8221;Corporate&#8221; customers;</FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: calibri; LINE-HEIGHT: normal" color=windowtext>4.A. History and Development of the Company</FONT></B></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; an average of 43.8 million daily transactions, including 1.4 million in our 4,749 branches and 42.4 million through Digital Channels, such as Bradesco Celular, Internet, Automatic Teller Machines, or ATMs, and telephone (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fone F&#225;cil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; a nationwide network consisting of 4,749 branches and 4,827 service centers and electronic in-company service centers, 35,590 active ATMs of our own network, and 21,259 ATMs available under the Banco24Horas brand for cash withdrawals, account balance information, obtaining statements and, take out loans, perform collections, transfers between Bradesco accounts,&nbsp; DOC/TED (types of bank transfer), pre-paid card and &#8220;proof of life&#8221; to INSS (physical proof of the existence of the old age pensioner or survivor to maintain the right to the social benefit) and services such as scheduled withdrawals via mobile apps, the purchase of foreign currency and immediate deposit (which makes the funds immediately available); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp; 98,808 employees. For more information on our employees, see &#8220;Item 6.D. Employees&#8221;; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; a total of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>three </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>branches and nine subsidiaries located in New York, London, the Cayman Islands, Buenos Aires, Luxembourg, Hong Kong and Mexico.</FONT></P>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Recent acquisitions</FONT></I></B></H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>In July 2016, we announced to the market the acquisition of 100% of the share capital of HSBC Brasil.</FONT></H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>In July 2015, we signed a purchase contract for the acquisition of 100% of the share capital of HSBC Brasil. The acquisition was approved by the Central Bank in December 2015 and by the Administrative Council for Economic Defense (&#8220;CADE&#8221;) in June 2016, subject to an Agreement on Concentration Control, and therefore approved by all relevant regulatory bodies. The purchase was completed in July 2016, for R$16 billion. In October 2016, a Shareholders&#8217; Meeting approved the spin-off of HSBC Brasil and the integration of its staff and operational and technological platforms, resulting in the replacement of the HSBC brand in then-existing service network and providing greater synergy in its operations.</FONT></H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>With the acquisition, we took over all operations of HSBC in Brazil, including retail, insurance and asset management, as well as all branches and clients. The acquisition allowed us to grow in scale and optimize our platforms, while increasing national coverage, consolidating our leadership in a number of branches in several states, and strengthening our presence in the high-income segment. The acquisition also enabled us to expand our operations, increasing the range of products offered in Brazil, especially in the insurance, credit card and asset management segments.</FONT></H4>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Other strategic alliances</FONT></I></B></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In July 2017, we announced that Bradesco Seguros S.A. (&#8220;Bradesco Seguros&#8221;) and Swiss Re Corporate Solutions Ltd. (&#8220;Swiss Re Corso&#8221;) completed the transaction announced in October 2016, by signing a shareholders' agreement pursuant to which: (i) Swiss Re Corporate Solutions Brasil Seguros S/A (&#8220;Swiss Re Corporate Solutions Brasil&#8221;) assumed part of the insurance operations of Bradesco Seguros, the property and casualty (P&amp;C) and the transport (together "Large Risk Insurance"), having exclusive access to Bradesco clients to market Large Risk Insurance solutions; and (ii) Bradesco Seguros became the holder of 40.0% of Swiss Re Corporate Solutions Brasil's shares </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>and the other 60% remained with its controller Swiss Re Corso. The transaction was approved by the SUSEP, by the CADE and by the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>In May 2017, Bradesco Seguros, together with the other shareholders of IRB Brasil RE ("IRB"), authorized IRB to request to the CVM: (i) registration as a publicly-traded company and authorization to conduct the Initial Public Offer (IPO) of IRB, in accordance with CVM Instructions No. 400/03 and No. 480/09; and (ii) registration to perform a secondary offering of common shares, in accordance with CVM Instruction No. 400/03. In July 2017, the book building procedure of the offer ended and Bradesco sold part of its shares. Bradesco Seguros now holds 15.23% stake in the share capital of IRB (stake calculated excluding shares held in treasury).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>In June 2017, Bradesco entered into agreements with Banco do Brasil S.A., Banco Santander (Brasil) S.A., Caixa Econ&#244;mica Federal and Ita&#250; Unibanco S.A. to create a company to manage credit intelligence ("GIC"). The company will develop a database to add, reconcile and handle the profile and credit information of individuals and legal entities who authorize their inclusion in the database, as required by the applicable rules. The control of the company will be shared between the banks and each of them will hold 20% of its share capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>BRAM has developed important alliances as part of its internationalization strategy, expanding the number of platforms through which its investment funds are offered in the European, Latin American and </FONT></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-FAMILY: calibri; LINE-HEIGHT: normal" color=windowtext>4.A. History and Development of the Company</FONT></B></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Asian markets. Through personal management and investment advisory agreements, we offer Brazilian investors the opportunity to invest in global equity funds, with a focus on the U.S., Europe and Asia, besides the global funds. In Europe, BRAM offers to overseas investors funds domiciled in Luxemburg with different strategies under the Bradesco Global Funds family, launched in 2009. In Japan, Mitsubishi Kosukai UFJ Asset Management (&#8220;MUKAM&#8221;), our partner, offers fixed income funds and equity funds managed by BRAM since 2008 to retail investors wishing to invest in the Brazilian market. In Chile our partner Larrain Vial offers to Chilean investors a variable income fund managed by BRAM since 2008.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Business strategy</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The key elements of our strategy are: (i) consolidating and expanding our position as one of the leading financial institutions and insurance providers in Brazil; (ii) maximizing shareholder value; and (iii) maintaining high corporate responsibility and sustainability standards.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We intend to pursue the following strategies to reach these goals:</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Consolidate and build upon our service network and brand as one of the leading financial institutions and insurance providers in Brazil, which offers a complete portfolio of products and services to all levels of society.</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that our position as one of the leading financial institutions in Brazil, with a presence in all Brazilian regions through a broad network of distribution channels and with exposure to individuals of all income levels as well as large, mid&#8209;sized and small businesses, will allow us to maintain the organic growth strategy. We will also continue to expand the insurance, pension and capitalization bonds business segment, in order to consolidate our leadership in this sector. As part of this strategy, we intend to increase the sales of our traditional banking, insurance, pension and capitalization bonds products through our wide branch network, our internet distribution services and other distribution channels. We are committed to investing significantly in our IT platform to support such growth. In addition, we intend to continue to leverage our relationships with corporate clients and high-income individuals to further develop our investment banking, private banking and asset management operations through Bradesco BBI, Banco Bradesco Europa, Bradesco Securities and other subsidiaries in Brazil and other key financial centers such as London, New York and Hong Kong.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Maintain asset quality and operational risk levels.</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are focused on sustainable growth to ensure our standards in relation to our asset quality and risk levels. We intend to maintain the quality of our loan portfolio by continuously improving our delinquency risk models, ensuring better results in credit granting and appropriate provisions for incurred losses. Our strategy involves maintaining our existing policy for our insurance business of careful evaluation of risk spreads through robust actuarial analysis, while entering into reinsurance agreements with well-known reinsurers to reduce exposure to large risks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With respect to risk management, we intend to continue our integrated approach that utilizes a centralized method for identifying, measuring, controlling, monitoring and mitigating credit, market, liquidity and operational risks. We intend to continue to use specialized risk management committees in relation to the adoption of institutional policies, operational guidelines and the establishment of limits for risk exposure in accordance with best international practices, with the aim of maintaining operational risk levels within adequate boundaries.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Complement organic growth with strategic alliances and pursue selective acquisitions.</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>To complement our organic growth strategy, we constantly seek opportunities for strategic alliances and selective acquisitions to consolidate our position as one of the leading financial institutions in Brazil and to expand our presence in growth markets such as consumer financing, investment banking, broker dealing and insurance. The acquisition of HSBC Brasil was the largest ever in our history and we expect an expansion of our operations, in particular, of profitable businesses and with low capital needs. In addition, we believe our strategic partnership with Banco do Brasil and Caixa in relation to credit, debit and pre-paid cards for checking account holders and non-account holders is an example of such a growth opportunity. Similarly, our merger with Odontoprev S.A. has increased our presence in the segment of dental care plans enabling us to consolidate our leadership position in the insurance market. We will continue to focus on asset quality, potential operating synergies, sale and acquisition of know-how to maximize return for our shareholders.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Focus on corporate responsibility and sustainability as core principles of our business.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that corporate responsibility and sustainability are fundamental to our operations and have incorporated the following three principles into our overall strategy: a sustainable financial position, </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>25</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>responsible management and investments in social and environmental projects. We are always seeking to develop and incorporate sustainable finance concepts into the process of designing and managing our products and services and in our relationships with clients and suppliers. We believe our admission to the sustainability indexes of both the New York Stock Exchange and B3 represents strong recognition of our success in implementing sustainability principles. As part of this strategy, we will continue to apply social-environmental risk analysis in financing and investment activities in accordance with international practices, including the Equator Principles which we signed up to in 2004. Corporate responsibility has always been one of our core principles as evidenced by the significant investments we have made in education since 1956 through Funda&#231;&#227;o Bradesco, which is present in every state in Brazil and the Federal District, with 40 schools primarily located in regions of high socioeconomic deprivation. Funda&#231;&#227;o Bradesco offers quality formal education, free of charge, to children and young people from early childhood to high school as well as professional high school education for young people and adults, as well as initial and continuing education for employment and income. &nbsp;</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577593"></A><A name="_Toc415063371"></A><A name="_Toc292442695"></A><A name="_Toc288278521"></A><A name="_Toc288271594"></A><A name="_Toc285783821"></A><A name="_Toc261485999"></A><A name="_Toc257080056"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>4.B. Business Overview</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We operate and manage our business through two segments: (i) the banking segment; and (ii) the insurance, pension plans and capitalization bond segment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The data for these segments was compiled from reports prepared for Management to assess performance and make decisions on allocating funds for investments and other purposes. Management uses various data, including financial data in conformity with BR GAAP and non-financial metrics compiled on different bases. For further information on differences between the results on a consolidated basis and by segment, see "Item 5.A. Operating Results - Results of operations for the year ended December 31, 2017 compared with the year ended December 31, 2016&#8221; and "Item 5.A. Operating Results - Results of operations for the year ended December 31, 2016 compared with the year ended December 31, 2015.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, according to the sources cited in parentheses below, we were:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one of the leading banks in terms of savings deposits, with R$103.3 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>billion, accounting for 18.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% of Brazil's total savings deposits (Central Bank);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one of the leaders in BNDES onlendings, with R$5.9 billion in disbursements (BNDES);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one of the leaders in automobile financing loans, with a market share of 13.8% (Central Bank);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the leading bank in benefit payments from the INSS, with over 10.7 million INSS retirees, beneficiaries and other pensioners, accounting for 30.9% of the total number of INSS beneficiaries (INSS);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one of the leaders in leasing transactions in Brazil, with an outstanding amount of R$2.2&nbsp; billion; through our subsidiary Bradesco Leasing S.A. Arrendamento Mercantil, or &#8220;Bradesco Leasing&#8221; (ABEL);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazil&#8217;s largest private fund and investment manager, through our subsidiary BRAM, with R$666.6 billion in assets under management (ANBIMA), taking into account managed portfolios;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one of the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>leaders </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the third-party asset management </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>business</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, with R$591.5 billion in managed assets, in addition to R$222.2 billion in assets managed though our subsidiary and BEM, specialized in trust, custody and controllership of asset management services (ANBIMA); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the leader in number of outstanding purchasing consortium quotas, through our subsidiary Bradesco Administradora de Cons&#243;rcios Ltda., or &#8220;Bradesco Cons&#243;rcios,&#8221; with 1,410,736 quotas in three segments, including: (i) automobiles and motorcycles, with 1,113,860 quotas; (ii) real estate, with 249,893 quotas; and (iii) trucks/tractors/machinery and equipment, with 46,983&nbsp; quotas (Central Bank); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the largest company operating in the Brazilian insurance market, operating in all lines of this segment, with a 25.9% market share (SUSEP/ANS), through Grupo Bradesco Seguros, which mainly comprises: Bradesco Seguros S.A., or &#8220;Bradesco Seguros&#8221; and its subsidiaries: (i) Bradesco Vida e Previd&#234;ncia S.A., or &#8220;Bradesco Vida e Previd&#234;ncia;&#8221; (ii) Bradesco Capitaliza&#231;&#227;o S.A., or &#8220;Bradesco Capitaliza&#231;&#227;o;&#8221; (iii) Bradesco Auto/RE Companhia de Seguros S.A., or &#8220;Bradesco Auto/RE;&#8221; and (iv) Bradesco Sa&#250;de S.A., or &#8220;Bradesco Sa&#250;de.&#8221; The Group&#8217;s </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>total revenues in 2017 were R$76.3 billion in insurance premiums, pension plan contributions and capitalization bond income. </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main awards and acknowledgments that we received in 2017 are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the most valuable brand in the Brazilian financial market, according to the ranking published by Isto&#201; Dinheiro magazine in partnership with consultancy firm Kantar Vermeer, a division of the British WPP group; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: -0.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>was ranked in the first position in the "Financial Sector" category and mentioned among the "10 most innovative companies in Brazil", in the third yearbook </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>Valor Inova&#231;&#227;o Brasil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif> (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>Valor Econ&#244;mico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif> Newspaper and Consultoria Network PwC);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI was awarded the title of best investment bank of Brazil in 2017 in the 17<SUP>th </SUP>edition of "Best Investment Banks of the world" (Global Finance magazine);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BRAM led the ranking Best Funds for Institutional Investors (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Investidor Institucional</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> magazine);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>chosen as the best manager in wholesale and multimarket funds in the country (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Exame</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> magazine, based on the survey by </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Get&#250;lio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>);&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI was recognized&nbsp; as the "best investment bank in Brazil" (Euromoney magazine);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>received the "efinance 2017" award, in the categories "CIO of the Year, Back Office, Project Management, IT Governance, Foreign Exchange in ATM and Credit App" (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Executivos Financeiros</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> magazine);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 58.1pt; TEXT-INDENT: -0.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>received the "Estad&#227;o Empresas Mais" award, in the category&nbsp; "Banks" (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>O Estado de S. Paulo </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>newspaper in partnership with </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Administra&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif> &#8211; FIA and Austin Ratings);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 58.1pt; TEXT-INDENT: -0.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>received the IT Leaders 2017 award, in the categories of Banks and Insurers and for the second consecutive year, achieved the first position in the ranking of Top 100 IT Leaders 2017 (17<SUP>th</SUP> edition of Computerworld);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 58.1pt; TEXT-INDENT: -0.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>&nbsp;for the first time, was selected to integrate the "Best Emerging Markets Performers Ranking" (Vigeo EIRIS Agency);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 58.1pt; TEXT-INDENT: -0.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>elected as the most innovative company in the use of IT, as winner of the award &#8220;The 100+ Innovative in the Use of IT&#8221; with the next case (IT Media in partnership with PricewaterhouseCoopers PwC);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>largest private &nbsp;group in the "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Valor Grandes Grupos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221; ranking (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Valor Econ&#244;mico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> newspaper); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 107%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>Bradesco Seguros received the "Notable Companies" award, in the Insurance, Health, Pension and Capitalization segment (Standard Intelligence Center &#8211; CIP, in partnership with the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif>Consumidor Moderno</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 107%" color=windowtext face=Arial,sans-serif> magazine); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>highlight of the &#8220;Folha Top of Mind&#8217; survey, as the private financial institution most present in the mind of Brazilians (Datafolha).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Revenues per business segment</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table summarizes our main gross revenues by segment for the periods indicated:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>27</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Years Ended December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income from loans and advances <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>69,157,397 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;77,141,672 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;69,877,296 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fees and commissions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;24,143,561 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;20,696,785 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;19,195,003 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance and pension plans</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,046,635 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;65,027,122 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;58,760,780 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Includes industrial loans, financing under credit cards, overdraft loans, trade financing and foreign loans.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further details of our segments,</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> see </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>e </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We do not break down our revenues by geographic regions within Brazil, and less than 3.0% of our revenues come from international operations. For more information on our international operations, see "International banking services."</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In our banking segment, we offer a range of banking products and services to our clients including deposit-taking, granting of loans and advance payments, debit and credit card services and capital market solutions, through our extensive distribution network.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have a diverse customer base that includes individuals and small, midsized and large companies in Brazil. Historically, we have cultivated a strong presence among the broadest segment of the Brazilian market, middle- and low-income individuals. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows selected financial data for our banking segment for the periods indicated.</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Banking - R$ in thousands </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Statement of Income data</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,997,327 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49,156,109 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,934,849 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(17,895,929)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (18,829,460)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (16,479,985)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other income/(expenses) <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (18,939,329)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (13,034,164)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (31,200,150)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,162,069 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,292,485 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (745,286)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(887,289)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7,995,420)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,621,169 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,274,780 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,297,065 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,875,883 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net income attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,272,962 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,293,766 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,874,609 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,818 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,299 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,274 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Statement of Financial Position data</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>988,063,541 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>921,916,290 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>894,579,942 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Selected results of operations data</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest and similar income</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,073,435 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,689,347 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,031,038 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>64,083,962 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>68,452,325 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>61,846,258 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>34,194,879 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,709,708 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,283,414 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,881,319 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,667,516 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,587,412 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other financial interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>68,553 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>66,210 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>58,905 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest and similar expenses</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (29,397,587)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (30,542,950)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (31,212,421)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (13,279,231)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (15,462,989)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (12,392,644)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (13,527,986)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (17,124,503)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (11,597,283)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5,100,017)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,298,555)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,669,830)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net interest income </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,997,327 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49,156,109 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>46,934,849 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net fee and commission income </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24,143,561 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,696,785 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>19,195,003 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=4>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Note: Inter segment transactions have not been eliminated.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)&nbsp; </FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For additional information, see "Item 5.A. Operational Results".</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Products and banking services </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order to meet the needs of each client, we offer the following range of banking products and services:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>deposit-taking with clients, including checking accounts, savings accounts and time deposits;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>loans and advances (individuals and companies, housing loans, microcredit, onlending BNDES/Finame, rural credit, leasing, among others);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit cards, debit cards and pre-paid cards;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cash management solutions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>public authority solutions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>asset management;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>services related to capital markets and investment banking activities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>intermediation and trading services;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>capital markets solutions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>international banking services;</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>29</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=right><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>import and export financing; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>consortiums.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Deposit-taking with clients</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer a variety of deposit products and services to our customers mainly through our branches, including:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Non-interest-bearing checking accounts, such as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Easy Account</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conta F&#225;cil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) &#8211; Target market: Individuals and companies that have a checking account and a savings account under the same bank account number, using the same card for both accounts; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Click Account</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Click Conta</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>)</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; Target market: checking accounts for young people from 11 to 17 years of age, with exclusive website and debit card, automatic pocket money service and free online courses, among other benefits; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Academic Account</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conta Universit&#225;ria</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) &#8211; Target market: low fee checking account for college students, with subsidized credit conditions, exclusive website and free online courses, among other benefits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>traditional savings accounts, which currently earn the Brazilian reference rate, or </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>taxa referencial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, known as the "TR," plus 6.2% annual interest in the case the SELIC rate is higher than 8.5% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a. </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>or TR plus 70.0% of the SELIC rate if the SELIC rate is lower than 8.5% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>time deposits, which are represented by Bank Deposit Certificates (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>certificados de dep&#243;sito banc&#225;rio</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; or "CDBs"), and earn interest at a fixed or floating rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had 25.8 million checking account holders, 24.3 million of which were individual account holders and 1.5 million of which were corporate account holders. As of the same date, we had 63.4 million savings accounts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows a breakdown of our deposits from customers by type of product on the dates indicated: </FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="72%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;R$ in thousands, except % </FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Demand deposits </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,058,324 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.6%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,521,234 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,012,068 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.8%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais&nbsp; </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,392,388 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,936,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21,122,202 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,665,936 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,584,783 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,889,866 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Savings deposits </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,332,697 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>39.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97,088,828 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>41.7%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>91,878,765 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais&nbsp; </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,332,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>39.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97,088,828 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>41.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>91,878,765 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Time deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>125,617,424 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47.9%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,137,867 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>44.3%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>79,619,267 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>40.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais&nbsp; </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>115,684,855 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>44.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>87,286,295 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>53,932,917 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,932,569 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,851,572 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,686,350 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>262,008,445 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>232,747,929 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>194,510,100 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows loans and advances to customers broken down by type of product on the indicated dates:</FONT></P>

<a name="_bclFooter30"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>30</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_31"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader31"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="58%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to individuals outstanding by type of operation</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other loans and advances to individuals</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>88,893,464 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>84,165,325 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>80,070,794 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>59,963,375 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>60,458,038 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>48,114,515 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Onlending BNDES/Finame</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,655,666 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,816,560 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>38,158,108 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other corporate loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97,248,815 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>107,951,154 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>107,047,136 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,642,478 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14,422,799 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,710,274 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,249,859 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,738,611 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,072,777 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37,568,984 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37,407,733 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,943,428 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import and export financings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>43,591,024 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49,123,653 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49,206,636 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,813,665 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>392,083,873 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>370,323,668 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table summarizes concentration for our outstanding loans and advances to customers by borrower on the dates shown</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Borrower size</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Largest borrower</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10 largest borrowers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.2%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20 largest borrowers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.6%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50 largest borrowers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100 largest borrowers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.8%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other loans and advances</FONT></I></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to individuals</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our significant volume of individual loans enables us to </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>avoid concentration on any</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> individual loans on the performance of our portfolio and helps build customer loyalty. They consist primarily of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>personal loans with pre-approved overdraft facilities to be obtained through our branches, ATM network, call center, mobile and internet banking, with average repayment terms in six months with an average interest rate of 8.6% per month as of December 31, 2017. It also includes payroll-deductible loans to INSS pension plan beneficiaries and retirees and public servants and private sector employees;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>vehicle financings with average repayment terms of 14 months with an average interest rate of 1.4% per month as of December 31, 2017; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>overdraft loans on checking accounts - "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cheque especial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>," with average repayment terms of one month, at interest rates varying from 3.0% to 13.3% per month as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had outstanding personal loans, vehicle financings, and overdraft loans totaling R$88.9 billion, or 23.8% of our portfolio of loans and advances to customers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banco Bradesco Financiamentos ("Bradesco Financiamentos") offers (i) lines of loans and leasing for the acquisition of vehicles and (ii) payroll-deductible loans to INSS retirees and pensioners and public-sector employees (federal, state and municipal) through our extensive network of correspondents in Brazil, which includes retailers and dealers of light and heavy vehicles and motorcycles and companies specialized in payroll-deductible loans. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Housing loans </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had 170.2 thousand active financing contracts under mortgage or fiduciary disposal of real estate. The aggregate outstanding amount of our housing loans amounted to R$59.9 billion, representing 16.0% of our portfolio of loans and advances to customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Housing loans are carried out for the purpose of: (i) acquisition of residential and commercial real estate, and urban plots; and (ii) construction of residential and commercial developments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financing for the acquisition of residential real estate has a maximum term of up to 30 years and annual interest rates of 9.3% to 12.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per annum</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, plus TR, while commercial real estate has a maximum term of up to ten years and annual interest rates of 9.7% to 15.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> plus TR.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financing for construction, also known as the Businessman Plan, has a construction term of up to 36 </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>31</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=right><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>months and interest rate of 12.0% to 16.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per annum</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, plus TR, and a six-month grace period for the realization of transfers to borrowers. However, if the debt is not paid in full through the transfer of loans to the buyers of the units once construction is finished, the remaining balance must be paid by the builder within 36 months and at TR plus 16.0% to 18.0% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per annum</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central Bank regulations require us to provide at least 65.0% of the balance of savings accounts in the form of housing loans; 24.5% in compulsory deposit requirement and the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>remaining resources, in financial </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and other transactions according to the law and regulations in force. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 170.1pt 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BNDES onlending/FINAME</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The government has certain products and programs to provide government-funded long-term loans with below-market or subsidized interest rates, focusing on economic development. We are structuring agents of BNDES funds, which is the development bank of the Brazilian government.&nbsp; We then on-lend these funds to borrowers in several sectors of the economy. We determine the spread on some of the loans based on the borrowers' credit. Although we bear the risk for these BNDES and FINAME onlending transactions, these transactions are always secured. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to BNDES, in 2017, we disbursed R$5.9 billion, 72.6% of which was loaned to micro, small and medium-sized companies. Our BNDES onlending portfolio totaled R$30.7 billion as of December 31, 2017, and accounted for 8.2% of our portfolio of loans and advances to customers at that date. This amount does not include BNDES onlending related to rural credit and import and export financing.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other corporate loans and advances</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We provide traditional loans for the ongoing needs of our corporate customers. As of December 31, 2017, we had R$97.2 billion of other outstanding loans to corporate clients, accounting for 26.0% of our portfolio of loans and advances to customers. We offer a range of loans to our corporate customers based in Brazil, including:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>short-term loans of 29 days or less;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>working capital loans to cover our customers' cash needs;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>guaranteed checking accounts and corporate overdraft loans;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>discounting trade receivables, promissory notes, checks, credit card and supplier receivables, etc.;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financing for purchase and sale of goods and services; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>investment lines for acquisition of assets and machinery.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These lending products generally bear interest at a rate of 1.1% to 13.4% per month.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to these loans, we also offer guarantees, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which are a contractual commitment, in which we guarantee the fulfilment of the obligations of our customers (debtors) before third parties (beneficiaries).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rural credit</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We extend loans to the agricultural sector financed by compulsory deposits, or the Amount Subject to Compulsory Deposit Requirement (&#8220;VSR&#8221;), BNDES onlendings and our own funds, in accordance with Central Bank regulations. As of December 31, 2017, we had R$13.6 billion in outstanding rural credit, representing 3.6% of our portfolio of loans and advances to customers. In accordance with Central Bank regulations, loans arising from compulsory deposits are paid a fixed rate. The annual fixed rate was 8.5%, on average, as of December 31, 2017. Repayment of these loans generally coincides with agricultural harvest and principal is due when a crop is sold. For BNDES onlending for rural investment the term is no more than ten years with repayments on a semi-annual or annual basis. As security for such loans, we generally obtain a mortgage on the land where the agricultural activities being financed are conducted.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since July 2012, Central Bank regulations require us to use at least 34.0% of the annual average (from June through May) of our VSR to provide loans to the agricultural sector. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Leasing</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to ABEL, as of December 31, 2017, our leasing companies were among the sector leaders, with a 18.2% market share. According to this source, the aggregate discounted present value of the leasing portfolios in Brazil as of December 31, 2017 was R$12.2 billion.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>32</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had 12,243 outstanding leasing agreements totaling R$2.2 billion, representing 0.6% of our portfolio of loans and advances to customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian leasing market is dominated by financial institutions, including companies affiliated with Brazilian and foreign manufacturers. Brazilian lease contracts generally relate to motor vehicles, computers, industrial machinery and other equipment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Most of our leasing transactions are financial (as opposed to operational). Our leasing transactions primarily involve the leasing of trucks, cranes, aircraft, ships and heavy machinery. As of December 31, 2017, 44.4% of our outstanding leasing transactions were for vehicles.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We conduct our leasing transactions through our primary leasing subsidiary, Bradesco Leasing and also through Bradesco Financiamentos.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We obtain funding for our leasing transactions primarily by issuing debentures and other securities in the domestic market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, Bradesco Leasing had R$63.6 billion of debentures outstanding in the domestic market. These debentures will mature in 2032 and bear monthly interests at the interbank interest rate (&#8220;CDI rate&#8221;).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Terms of leasing agreements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial leases represent a source of medium and long-term financing for Brazilian customers. Under Brazilian law, the minimum term of financial leasing contracts is 24 months for transactions relating to products whose average useful life of five years or less, and 36 months for transactions for those with an average useful life of five years or more. There is no legal maximum term for leasing contracts. As of December 31, 2017, the remaining average maturity of contracts in our lease portfolio was approximately 61 months.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=windowtext face=Arial,sans-serif>Targeted Production Microcredit</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer a product named &#8220;targeted production microcredit&#8221; to formal and informal entrepreneurs, in accordance with Central Bank regulations requiring banks to use 2.0% of their cash deposits to provide microcredit loans. As of December 31, 2017, we had 34,508 microcredit loans outstanding, totaling R$110.1 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with Central Bank regulations, consumer microcredit transactions are charged up to a maximum effective interest rate of 2.0% per month. However, microcredit loans for certain types of business or specific products (&#8220;</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>microcr&#233;dito produtivo orientado</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;) have a maximum effective interest rate of up to 4.0% per month. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CMN requires </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by Resolution No. 4,000/12 and other rules </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>that the maximum amount loaned to a borrower be limited to (i) R$2,000 for low income individuals in general (consumer microcredit); (ii) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$5,000 for individuals or legal entities engaged in a productive activity of professional, commercial or industrial nature, provided that the sum of the value of the transaction and the balance of other credit transactions does not exceed R$40,000</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and (iii) R$15,000 for our </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>microcr&#233;dito produtivo orientado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> transactions. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, microcredit loans may not be for less than 120 days, and the origination fee must be up to 2.0% of the loan value for individuals and up to 3.0% for micro entrepreneurs. In 2017, the Federal Government updated some rules of the National Program of Targeted Productive Microcredit (PNMPO) through Provisional Measure No. 802/17, providing special conditions for the grant of credit to individuals and legal entities that are entrepreneurs of urban and rural productive activities and have income and annual gross revenues under R$200,000.00. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit cards</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer a range of credit cards to our clients including Elo, American Express, Visa, MasterCard brands and private label cards, which </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>stand out</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> due to the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>extent of benefits and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>convenience offered to associates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We earn revenues from our credit card&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>operations <FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>through:</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fees on purchases carried out in commercial establishments;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>issuance fees and annual fees;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest on credit card balances;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest and fees on cash withdrawals through ATMs; and</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>33</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest on cash advances to cover future payments owed to establishments that accept credit cards.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer our customers a complete line of credit cards and related services, including:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cards issued for use restricted to Brazil;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit cards accepted nationwide and internationally;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit cards </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>directed toward</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> high net worth customers, such as Gold, Platinum, Infinite/Black</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp; and Nanquim from</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Elo, Visa, American Express and MasterCard</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> brands</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>multiple cards that combine credit and debit features in a single card, which may be used for traditional banking transactions and shopping;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>co-branded credit cards, which we offer through partnerships with companies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>"affinity" credit cards, which we offer through associations, such as sporting clubs and non-governmental organizations; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>private label credit cards, which </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>we only offer to customers of retailers, designed to increase business and build customer loyalty for the corresponding retailer, which may or may not have a restriction on making purchases elsewhere, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We hold 50.01% of the shares of Elopar, an investment holding company which investments include Alelo (benefit cards, pre-paid and money card), Livelo (coalition loyalty program), Stelo (digital portfolio for online purchases), as well as participations in Elo Servi&#231;os (brand) and Banco CBSS and Ibi Promotora (stores for sales of cards, personal credit, consigned credit and other products). </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We hold 30.06% of the shares of Cielo S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We also have a card business unit abroad, Bradescard Mexico, which has a partnership with C&amp;A and also with Suburbia stores and with the LOB and Bodega Aurrera store chains.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With the acquisition of HSBC Brasil, our credit card portfolio was expanded, consolidating our position in the domestic financial market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had several partners with whom we offered co-branded, affinity and private label/hybrid credit cards. These relationships have allowed us to integrate our relationships with our customers and offer our credit card customers banking products, such as financing and insurance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In April 2017, the Resolution No. 4,549/17 materially changed the rules relating to revolving credit applicable to credit card balances. As per the rule, the balance can only stay in revolving credit until the maturity of the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>subsequent invoice, when the client must settle the balance plus any interest for the period. The bank may offer to the client another form of financing with better conditions in relation to those practiced in the revolving credit modality, including waiving financial charges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our volume of transactions and total number of transactions of credit cards for the years indicated:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>In millions</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Volume traded - R$</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;176,893.5 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;159,172.5 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;140,063.8 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number of transactions</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,991.0 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,784.0 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,530.3 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With the mission of providing security solutions aligned to our business and creating, implementing, and maintaining preventive rules, processes and technologies, we have a department to prevent credit card fraud. This department acts strategically in the security of the use and service channels, systems and processes of the product, assessing, treating, and suggesting improvements. The department also issues technical opinions in connection with strategic security issues and implementation of products, services or processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Among the main "Corporate Security Global Vision" responsibilities, we highlight the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the strategy area to prevent credit card fraud has the mission of identifying and mitigating risks of financial losses and negative impacts to the image of the Bank. It develops prevention strategies to documental and transactional fraud, monitoring and alerting in real time the onboarding of the product as well as all transactions made through the customer service and use channels. The actions are based on behavioral analyses of fraud, supported by statistical </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>methodologies and predictive models of fraud, in order to ensure controls aligned to the business.&nbsp; The area also works on the diagnosis of losses to identify systemic and operational weaknesses, recommending preventive actions and the alignment with the current strategy when necessary;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;the projects and processes area establishes controls for the identified risks and is responsible for evaluating the risk of fraud and issuing recommendations on new projects, processes and products. The area proposes to the managers of the business and technical areas solutions that aim to balance the use and the security of the products and access to service channels, as well as corporate and strategic actions, which envisage the best practices of the market focused on preventive actions; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the portfolio analysis area is responsible for managing and providing information from the fraud prevention area to the other areas of the organization.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Import and Export Financing</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For information on Import and Export Financing, see "Item 4.B. Business Overview &#8211; Foreign branches and subsidiaries.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cash Management Solutions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management of accounts payable and receivable - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order to meet the cash management needs of our customers in both public and private sectors, we offer many solutions for managing accounts payable and receivable, supported by our network of branches, bank correspondents and electronic channels, all of which aim to improve speed and security for customer data and transactions. The solutions provided include: (i) receipt and payment services and (ii) resource management, enabling our customers to pay suppliers, salaries, and taxes and other levies to governmental or public entities. These solutions, which can also be customized, facilitate our customers' day-to-day tasks and help to generate more business. We also earn revenues from fees and investments related to collection and payment processing services, and by funds in transit received up to its availability to the related recipients.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Solutions for receipts and payments -</FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif> In 2017, we settled 1.1 billion invoices through the services of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Cobran&#231;a</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif> Bradesco and 533 million of receipts by the tax collection systems and utility bills (such as water, electricity, telephone and gas), checks custody service, identified deposits and credit orders. The legal entity systems processed 1 billion documents related to payments to suppliers, salaries and taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Global Cash Management - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Global Cash Management aims at structuring solutions to foreign companies operating in the Brazilian market and Brazilian companies making business in the international market. By way of customized solutions, partnerships with international banks and access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) network, we offer products and services for carrying out the cash management of these companies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Niche Markets </FONT></I></B><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>-</FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> We operate in various niche markets, such as education, health, condominiums, country clubs, expeditors and driving schools, transportation, franchising, and religion, among others, where our clients have the support of a specialized team with the mission of structuring custom solutions that add value to their business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As an example, the Franchising &amp; Business niche has a team of franchising specialists that, through their relationship with franchising companies, identify opportunities for financing and providing services to all franchisees and their employees. The partnership with the franchise networks occurs through structured commercial activities in synergy with the managing departments, commercial segments, and affiliated companies. The focus on the peculiarities of this sector creates a competitive and sustainable position by structuring appropriate solutions and, in particular, through the strategy of providing differentiated and specialized service. We have approximately 400 agreements in place with franchising companies, generating numerous opportunities to open new current accounts and leveraging business with the respective franchisees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Another important feature in this area is the support we provide towards the development of Local Production Arrangements (&#8220;APLs&#8221;), by providing service to businesses and assistance to these clients. Participating in an APL strengthens the companies, because together they can form an articulated and important group for local development, allowing for greater competitive and sustainable advantages for micro and small businesses. Currently, we service 419 APLs throughout the country.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Public authority solutions</FONT></I></B></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>35</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have a specific area dedicated to serving public administration</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, which offers specialized services aimed at identifying business opportunities and structuring customized solutions to entities and bodies of the Executive, Legislative and Judiciary branches at federal, state and municipal levels, in addition to independent governmental agencies, public foundations, state-owned and mixed companies, the armed forces (army, navy and air force) and the auxiliary forces (federal and state police forces).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our exclusive website developed for our customers (www.bradescopoderpublico.com.br) offers corporate solutions for federal, state and municipal governments for payments, receipts, human resources and treasury services. The website also features exclusive facilities for public employees and the military, showing all of our products and services for our customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our relationships with such public authorities are developed and maintained by specialized business managers located in distribution platforms throughout the country, which can be identified on our website.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, we created six specialized platforms to assist governments, capitals, courts, class councils, chambers, prosecutors, public defenders and 100 largest municipalities according to the Brazilian GDP. We took part and were successful in bidding processes sponsored by the Brazilian government. Furthermore, according to INSS,&nbsp;</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>we continue to be leaders</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in payments of INSS benefits, with more than 10.7 million retirees and pensioners.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Asset management and administration</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BRAM manages third-party funds through:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>mutual funds;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>managed portfolios;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exclusive funds; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receivable funds (FIDCs &#8211; </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fundos de Investimento em Direitos Credit&#243;rios</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) and FIIs (Real Estate Investment Funds).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management of funds and portfolios - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On December 31, 2017, BRAM managed 1,187 funds and 216 portfolios, providing services to 3.2 million investors. Among its biggest customers are all the main segments of Bradesco, like Prime, Corporate, Private, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Varejo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Retail), Bradesco Empresas (</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>for more information on our segmentation, see </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;Segmentation of clients&#8221;) and Grupo Bradesco Seguros, in addition to institutional investors in Brazil and abroad. These funds comprise a wide group of fixed-income, non-fixed income, investments abroad and multimarket funds, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show the equity of funds and portfolios which are under our management, the number of investors and the number of investment funds and managed portfolios for each period:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity under Management by Type of Investment <BR>as of December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fixed income</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550,505,210 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519,945,330 </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,122,195 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,108,509 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Third party share funds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54,106,357 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42,432,619 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613,733,762 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 569,486,458 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Managed Portfolios</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fixed income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45,038,875 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,083,205 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,880,085 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,097,555 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,918,960 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,180,760 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overall Total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666,652,722 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609,667,218 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quotaholders</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quotaholders</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investment Funds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,187 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,295,332 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,235 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,005,799 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Managed Portfolios</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>216 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>216 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>210 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>210 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overall Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,403 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,295,548 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,445 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,006,009 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Administration of funds and portfolios - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On December 31, 2017, BEM and Bradesco administered 2,845 funds and 216 portfolios, providing services to 3.2 million investors. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>36</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader37"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show the equity of funds and portfolios which are under administration, the number of investors and the number of investment funds and portfolios under administration for each period.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="62%">

   <P style="unicode-bidi: embed; DIRECTION: rtl; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" dir=rtl align=center><FONT dir=ltr color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity under Administration by</FONT></B></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></B><FONT dir=ltr color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of Investment</FONT></B></FONT><B><FONT lang=AR-SA style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><BR>&nbsp;</FONT></B><FONT dir=ltr color=black face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>as of December</FONT></B></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><FONT dir=rtl></FONT><B><FONT lang=AR-SA style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;31</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investment Funds</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fixed income</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 719,817,674 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 669,657,368 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,006,035 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,389,907 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Third party share funds</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,091,423 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,710,418 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 771,915,132 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 708,757,693 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Managed Portfolios</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fixed income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 45,038,875 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,083,205 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,880,085 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,097,555 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Third party share funds</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,812,127 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,550,131 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 62,731,087 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 47,730,891 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overall Total</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 834,646,219 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 756,488,584 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quotaholders</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Quotaholders</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investment Funds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,845 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,266,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,656 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,034,787 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Managed Portfolios</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>216 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>216 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>306 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>306 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overall Total</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,061 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,267,189 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,962 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,035,093 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our products are mostly distributed </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>through</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our branch network, banking service by phone and the Internet.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2017, the Brazilian government issued Provisional Measure No. 806/17, introducing relevant changes in taxation applicable to investment funds. The new rule should be effective from January 2018, however, as Provisional Measure No. 806/17 was not converted into law until December 31, 2017, there are strong arguments to defend that, if it gets converted into law in 2018, it should only be effective from January 2019, since the Brazilian Constitution provides that a provisional measure involving the creation or increase of taxes shall only be effective in the subsequent financial year of its conversion into law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Services related to capital markets and investment banking activities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As our investment bank, &#8220;Bradesco BBI&#8221; is responsible for (i) originating and executing project financing operations; (ii) originating and executing mergers and acquisitions; (iii) originating, structuring, syndicating and distributing fixed income transactions of securities in Brazil and abroad; and (iv) originating, structuring, syndicating and distributing issuances of securities of variable income in Brazil and abroad. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>In 2016 and in 2017, Bradesco BBI received the top awards in all categories in which it participated:</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> &#8220;Best Investment Bank in Brazil&#8221; by Global Finance, &#8220;Brazil&#8217;s Best Investment Bank&#8221; by Euromoney and &#8220;Most Innovative Investment Bank from Latin America&#8221; by The Banker. The three awards, also known as the Triple Crown, have never been awarded to a financial institution in Brazil or abroad simultaneously or consecutively in the same year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, Bradesco BBI advised customers in a total of 205 transactions across a range of investment banking products, totaling approximately R$233.7 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Project finance - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI is the advisor and structuring agent in the areas of &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Project</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Corporate Finance</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;, seeking to optimize financing solutions for projects across various industries through both credit and capital markets operations. In 2017, Bradesco BBI sucessfully participated in the launching of 21 projects, totaling R$11.3 billion in investments. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI ended the year as number one in the ranking of structuring of Project Finance operations in Latin America and the Caribbean, as published by Dealogic.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mergers and acquisitions - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI provides advisory services in merger and acquisition and corporate sale transactions, including the sale of companies and assets, private placements, creation of joint ventures, financial and corporate restructuring, and privatizations. In 2017, o Bradesco BBI advised on 21 </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>37</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>disclosed transactions that amounted R$82.0 billion. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI ended the year as number one in the ranking of volume of mergers and acquisitions operations in Brazil, as published by Thomson Reuters.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Structured operations - </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI structures customized financial solutions for its customers in terms of their needs such as: investments, acquisitions, corporate reorganization, share repurchase, improved financial ratios, capital structure streamlining, and assets and risk segregation, by offering a number of funding tools to companies. Additionally, Bradesco BBI </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>has a strong presence</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in the acquisition finance segment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fixed income -</FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Bradesco BBI coordinates public offerings of securities of fixed income in local and international capital markets and international debt. In 2017, Bradesco BBI coordinated 123 local capital markets debt offerings that amounted to more than R$31.7 billion. In the same period, Bradesco BBI coordinated 17 international capital markets debt offerings that amounted to more than R$20.8 billion. Bradesco BBI ended the year as number two in the ranking of origination and distribution of fixed income securities as disclosed by ANBIMA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Variable income -</FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=cambria> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco BBI coordinates public offerings of shares in the national and international markets. In 2017, Bradesco BBI coordinated 20 local capital markets debt offerings that amounted to more than R$36.4 billion. In the same period, Bradesco BBI coordinated 3 international capital markets debt offerings that amounted to more than US$1.8 billion. Bradesco BBI ended the year as number two in the ranking of origination and distribution of variable income securities as disclosed by ANBIMA.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Intermediation and trading services</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco S.A. CTVM, or "Bradesco Corretora," operates in the financial market, and has as its objective the mediation of the purchase and sale of shares, commodities futures contracts, financial assets, indexes, options, share rental, and forward contracts, in the primary and secondary market. It also offers a wide range of products such as Investment Clubs, government securities through </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tesouro Direto</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Treasury Direct), and is admitted to negotiations in B3 and in the organized over-the-counter market, which are tailored to the needs of high net-worth individuals, major corporations and institutional investors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, Bradesco Corretora traded R$248.5 billion in the B3 equities market and ranked 5</FONT><SUP><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face="segoe ui symbol,sans-serif">th</FONT></SUP><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> position<SUP> </SUP>in Brazil in terms of total trading volume. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, in the same period, Bradesco Corretora traded 38.3 million futures, terms, swaps and options totaling R$3.8 trillion on the B3. In 2017, Bradesco Corretora ranked 9<SUP>th</SUP> position in the Brazilian market, in relation to the number of futures contracts, terms, swaps and options executed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Corretora was awarded by </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>B3, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>within the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Qualifying</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Program</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (PQO)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, five </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>excellence seals</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Agro Broker, Carrying Broker, Execution Broker, Retail Broker and Nonresident Investor Broker), indicating the high quality of its future market transactions. Bradesco Corretora is also certified by CETIP </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(Clearing House for the Custody and Financial Settlement of Securities, currently &#8220;B3&#8221;)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Corretora offers its clients the possibility to trade securities on the Internet</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> through its "Home Broker" service. In 2017, "Home Broker" trading totaled R$9.6 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Corretora has a full range of services in investment analysis with coverage of the main sectors and companies of the Brazilian market. With a team composed of 42 sector specialists who fairly disclose their opinions to the customers by way of follow-up reports and instruction guides, with a wide range of projections and comparison multiples. Bradesco Corretora also has a team of its own economists dedicated to the customers' specific demands, focused on the stock market. Over 500 reports, in English and Portuguese, are forwarded on a monthly basis to the most important investors domiciled in Brazil, the United States, Europe and Asia.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Corretora offers its services as a representative of non-resident investors for transactions in the financial and capital markets, in accordance with CMN Resolution No. 4,373/14. For more details of CMN Resolution No. 4,373/14, see "Item 10.D. Exchange Controls."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Capital markets solutions </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, we were one of the main providers of capital markets services and we maintained our leadership position in the domestic and global market according to the ANBIMA&#8217;s ranking of custody of assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Among the main services we offer in this segment, we highlight: qualified custody of securities for investors and issuers, administrators of investment funds, clubs and managed portfolios; bookkeeping of securities (shares, BDRs - Brazilian Depositary Receipts, quotas of investment funds, CRIs and debentures); </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>custody of shares backed by DR - Depositary Receipts, loan of shares, liquidating bank, depositary (Escrow Account - Trustee), clearing agent, tax and legal representation for non-resident investors, and fiduciary administration for investment funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have twelve Quality Management System ISO 9001:2008 certifications and three data protection GoodPriv@cy certifications. We also hold an ISAE 3402 (International Standard on Assurance Engagements) certification, which comprises assurance reports on controls at a service organization under international standards. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These certifications expand the structures of controls, increasing the level of effectiveness and quality of processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the set of the services provided by us, which we call &#8220;Bradesco Cust&#243;dia&#8221; was composed of:</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>custody and controllership services for investment funds and managed portfolios involving:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$1.5 trillion </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in assets under custody</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$2.2 trillion in assets under controllership; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$118.3 billion in market value, related to 26 ADR programs and 4 GDR (Global Depositary Receipts) programs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fiduciary administration for funds:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$359.3 billion total shareholders&#8217; equity of investment funds under fiduciary administration by BEM.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>securities bookkeeping</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>241 member companies of the Bradesco Book-entry Stock System, with 4.4 million shareholders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>384 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>companies with 557 issues in the Bradesco&#8217;s Book-Entry debentures</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> s</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ystem (value of R$375.9 billion);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>823 investment funds in the Bradesco Book-Entry Quotas System (value of R$81.9 billion); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>36 BDR (Brazilian Depositary Receipts) programs managed, with a market value of R$513.9 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>depositary (Escrow Account - Trustee):</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>13,176 contracts, with a financial volume of R$14.5 billion.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>International banking services</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a private commercial bank, we offer a wide range of international services, such as foreign trade finance and foreign currency loans, foreign exchange operations and international sureties, lines of credit and banking. As of December 31, 2017, our international banking services included: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Branches:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in New York City; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in the Cayman Islands; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in London.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Subsidiaries:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>London: Bradesco Securities U.K., named "Bradesco Securities U.K.;"</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in the Cayman Islands: Cidade Capital Markets Ltd., or "Cidade Capital Markets;"</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in Argentina: Banco Bradesco Argentina S.A., or "Bradesco Argentina;"</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in Luxembourg: Banco Bradesco Europa S.A., or "Bradesco Europe;"</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=ES style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=ES style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=ES style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>one in Mexico: Bradescard M&#233;xico, Sociedad de Responsabilidad Limitada, or "Bradescard M&#233;xico;"</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>39</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>two </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in Hong Kong: (i) Bradesco Trade Services Ltd. or "Bradesco Trade;" and (ii) Bradesco Securities Hong Kong or "Bradesco Hong Kong;" and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>two in New York</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (i) Bradesco Securities Inc. or &#8220;Bradesco Securities U.S.&#8221; and (ii) Bradesco North America LLC or &#8220;Bradesco North America.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our International &nbsp;and Exchange Board in Brazil coordinates our international transactions with support from 12 operational units specialized in foreign exchange </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and 18 points of service which are part of the Bradesco Companies Segment (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Segmento Bradesco Empresas)</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.This structure is </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>located at major exporting and importing areas nationwide.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Revenues from Brazilian and foreign operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The table below breaks down revenues (interest and similar income, and fee and commission income) from our Brazilian and foreign operations for the periods shown:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="34%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the years ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian operations</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;146,014,854 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>98.0%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;164,975,062 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>98.2%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;141,487,792 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overseas operations</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2,966,302 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,066,400 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,417,333 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;148,981,156 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;168,041,462 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;144,905,125 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign branches and subsidiaries</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our foreign branches and subsidiaries principally provide financing in foreign currency (particularly foreign trade finance operations) to Brazilian and non-Brazilian customers. Total assets of the foreign branches, excluding intra-group transactions, were R$46.7 billion, as of December 31, 2017, denominated in currencies other than the real.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funding required for </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financing or Brazilian foreign trade</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> is primarily obtained from the international financial community, through credit lines granted by correspondent banks abroad. We issued debt securities in international capital markets as an additional source of funding, which amounted to US$1.6 billion in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following is a brief description of our subsidiaries abroad:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Europa </FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- Through its unit in Luxembourg and its branch in London, it is also dedicated to providing additional services to clients of the private banking segment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Argentina</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - It was set up with the purpose of granting financing, largely to companies based in Brazil with local establishments and, to a lesser extent, to companies based in Argentina doing business with Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade Capital Markets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; In February 2002, Bradesco acquired Cidade Capital Markets in Grand Cayman, through to the acquisition of its parent company in Brazil, Banco Cidade.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Securities (U.S., U.K. and H.K.)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - Bradesco Securities, our wholly owned subsidiary, is a broker dealer in the United States, England and Hong Kong:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Securities U.S. focuses on facilitating the purchase and sale of shares, primarily in the form of ADRs and common shares. It is also an authorized dealer in bonds, commercial paper and deposit certificates, among other securities, and may provide investment advisory services;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Securities U.K. focuses on the intermediation of equities and fixed income operations for Brazilian companies </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with global institutional investors</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Securities H.K. focuses on the trading of ADRs and public and private securities issued by Brazilian companies to global institutional investors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco North America LLC</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; It serves as a holding company for our investments in non-bank businesses in the United States.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Trade Services</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; A non-financial institution and a subsidiary of our branch in the Cayman Islands, which we incorporated in Hong Kong in January 2007, in partnership with the local Standard Chartered Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradescard Mexico </FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; The business cards unit maintains a partnership with the chain of C&amp;A stores, and also with the Suburbia stores and with the chains of LOB and Bodega Aurrera stores.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>40</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking operations in the United States</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2004, the United States Federal Reserve Bank authorized us to operate as a financial holding company in the United States. As a result, we may do business in the United States directly or through a subsidiary, and, among other activities, may sell insurance </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>products </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and certificates of deposit, provide underwriting services, act as advisors on private placements, provide portfolio management and merchant banking services and manage mutual fund portfolios.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Import and export financing</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Brazilian foreign-trade related business consists of giving finance services to our clients in their export and import activities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In import financing/refinancing, we directly transfer funds in foreign currency to foreign exporters, pegging the payment in local currency for Brazilian importers. In export finance, exporters obtain advances in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> on closing an export forex contract for future receipt of foreign currency on the contract due date. Export finance arrangements prior to shipment of goods/performance of services are known locally as Advances on Exchange Contracts or "ACCs," and the sums advanced are used to manufacture goods or provide services for export. If advances are paid after goods/performance of services have been delivered, they are referred to as Advances on Export Contracts, or "ACEs."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>There are still other forms</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of export financing, such as Export Prepayments, onlendings from BNDES-EXIM funds, Export Credit Notes and Bills (referred to locally as "NCEs" and "CCEs"), and Export Financing Program with rate equalization &#8211; &#8220;PROEX.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our foreign trade portfolio is funded primarily by credit lines from correspondent banks. We maintain relations with various American, European, Asian and Latin American financial institutions for this purpose, using our network of approximately 1,422 correspondent banks abroad, 42 of which extended credit/guarantee lines as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, our international unit had a balance of R$41.9 billion in export financing and R$5.6 billion and R$3.7 billion in import financing and international guarantees. The volume of our foreign exchange contracts for exports reached US$44.0 billion in 2017. In the same period, the volume of our foreign exchange contracts for imports reached US$30.1 billion. In 2017, based on Central Bank data, we reached a 22.4% market share of trade finance for Brazilian exports and 21.4% for imports.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the composition of our foreign trade asset portfolio as of December 31, 2017. This portfolio includes transactions with credit features and off-balance sheet transactions (import credit opened and international guarantees): </FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Advance on foreign exchange contracts &#8211; undelivered bills </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,012,708 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Advance on foreign exchange contracts &#8211; delivered bills </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>557,233 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export prepayment </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;11,840,608 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Onlending of funds borrowed from BNDES/EXIM </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,759,335 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Proex - Rate Equalization Program</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;28,519 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>NCE/CCE (Exports Credit Note/Exports Credit Certificates) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16,755,480 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total export financing</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;41,953,883 </FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing &#8211; foreign currency </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2,827,432 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Exchange discounted in advance for import credit </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,522,468 </FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import credit opened</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;294,229 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total import financing</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;5,644,129 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>International guarantees</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;3,696,894 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total foreign trade portfolio</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;51,294,906 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign exchange products</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to import and export financing, our customers have access to a range of services and </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>41</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>foreign exchange products such as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>foreign loans to customers (Decree-Law No. 4,131/62); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>working capital abroad</FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>WEB exchange contracts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>collecting import and export receivables;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cross border money transfers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>advance payment for exports;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>accounts abroad in foreign currency;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>domestic currency account for foreign domiciled customers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cash holding in other countries;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>structured</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> foreign currency</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> transactions: through our overseas units</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>service agreements &#8211; receiving funds from individuals abroad via money orders;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>prepaid cards with foreign currency (individual and corporate customers);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>purchasing and selling of foreign currency paper Money;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cashing checks denominated in</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> foreign currency</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>clearance certificate (international financial capacity certificate).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Consortia</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In Brazil, persons or entities that wish to acquire certain goods may set up a group known as a "consortium.&#8221; Consortia in Brazil are made up of pooled funds for the purpose of financing an acquisition. Consortia that</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> are formed for the purchase of real estate, vehicles and motorcycles, trucks/tractors/machines and equipment, have a fixed term and quota, both previously determined by its members, and are run by an administrator.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Administradora de Cons&#243;rcios manages groups of consortia</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and, as of December 31, 2017, registered total sales of 1,410,736 outstanding quotas; net income of R$1.3 billion; and fees from consortiums of R$1.7 billion. Both companies also administer a total volume of transactions of over R$66.3 billion.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>W</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>e offer a range of products and services to our clients, including life, health, accident and vehicles and property insurance, both to individuals and companies; supplementary pension plans, individual and corporate, as well as the capitalization securities, through our extensive distribution network.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows selected financial data for our insurance, pension plans and capitalization bonds segment for the periods indicated. </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of and for the year ended December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Statement of Income data</FONT></B></P></TD>

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<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 1,857,926 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,374,229 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,973,694 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other income and expenses <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 7,335,891 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 4,190,317 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 2,539,976 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 9,193,817 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 9,564,546 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 8,513,670 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(4,156,153)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(3,915,822)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(3,192,918)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>5,037,664 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,648,724 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,320,752 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>4,812,425 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,550,662 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,215,765 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>225,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>98,062 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>104,987 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Statement of Financial Position data</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>295,699,951 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>266,642,197 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>209,789,872 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selected results of operations data</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income from insurance and pension plans</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Written premiums</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>65,878,513 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>62,470,571 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>55,920,681 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Pension plan contributions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,090,043 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 3,679,922 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 3,795,219 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Coinsurance premiums ceded</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (63,637)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (70,862)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (88,612)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums returned</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (667,196)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (746,244)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (522,309)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Reinsurance premiums</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (191,088)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (306,265)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (344,199)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>70,046,635 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>65,027,122 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>58,760,780 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Changes in the insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(34,805,771)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (32,781,918)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (28,286,039)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained claims</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (25,594,962)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (24,542,433)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; (21,724,043)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(3,405,912)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(3,547,008)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>(3,254,551)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income from insurance and pension plans</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>6,239,990 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 4,155,763 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#0d0d0d face=arial,sans-serif>&nbsp; 5,496,147 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Note: Inter segment transactions have not been eliminated.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1) </FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For additional information, see "Item 5.A. Operational Results".</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance products and services, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer insurance products, pension plans and capitalization bonds through different segments, which we refer to collectively as "Grupo Bradesco Seguros." Grupo Bradesco Seguros is leader in the Brazilian insurance market. The insurance products, pension plans and capitalization bonds offered in our service channels are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>life and personal accident insurance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>health insurance</FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>automobiles, property/casualty and liability insurance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reinsurance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pension plans</FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>capitalization bonds.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Life and personal accident insurance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer life and personal accident insurance, as well as insurance against miscellaneous events, such as job loss, through our subsidiary Bradesco Vida e Previd&#234;ncia. As of December 31, 2017, there were 34.4 million life insurance policyholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Health insurance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The health insurance policies cover medical/hospital expenses. We offer health insurance policies through Bradesco Sa&#250;de and its subsidiaries for small, medium or large companies wishing to provide benefits for their employees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On December 31, 2017, Bradesco Sa&#250;de and its subsidiary Mediservice Administradora de Planos de Sa&#250;de S.A. (Mediservice) had more than 3.7 million beneficiaries covered by company plans and individual/family plans. Approximately 139 thousand companies in Brazil pay into plans provided by Bradesco Sa&#250;de and its subsidiaries, including 37 of the top 100 largest companies in the country.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>43</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Sa&#250;de currently has one of the largest networks of providers of health services in Brazil. As of December 31, 2017, it included 12,166 laboratories, 16,788 specialized clinics, 14,784 physicians and 2,213 hospitals located throughout the country.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Automobiles, property/casualty and liability insurance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We provide automobile, property/casualty and liability </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>insurance</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> through our subsidiary Bradesco Auto/RE. Our automobile insurance covers losses arising </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>from</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> vehicle theft</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> damage</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> passenger and third-party injury. Retail property/casualty insurance is for individuals, particularly those with residential and/or equipment related risks and small- and medium-sized companies whose assets are covered by multi-risk business insurance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Of the various property/casualty lines for individuals, our residential policy (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bilhete Residencial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) is a relatively affordable and highly profitable product. For corporate customers, Bradesco Auto/RE offers Bradesco Seguro Empresarial (business insurance), which is adapted to meet our customers' and business needs, according to their industry sector.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, Bradesco Auto/RE had 1.5 million insured automobiles and 1.5 million property/casualty policies and notes, making it one of Brazil&#8217;s main insurers.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Reinsurance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance companies must operate with reinsurers registered with SUSEP. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2007, Brazil's Congress enacted Supplementary Law No. 126/07, which abolished IRB-Brasil Re's monopoly and allowed three types of reinsurers referred to as "local," "admitted" and "occasional," thus opening up Brazil's reinsurance market for competition. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Reinsurers classified as admitted and eventual, with their head office abroad, must meet specific minimum requirements, as provided for in legislation in force.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the same supplementary law, IRB-Brasil RE</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> was recognized as a local reinsurer and authorized to continue its operations and make any required adjustments in due course.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of the end of 2007, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>National Council of Private Insurance (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CNSP - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conselho Nacional de Seguros Privados</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) and SUSEP issued a number of normative instructions containing rules for reinsurance, retrocession and intermediation business, based mainly on CNSP Resolution No. 168/07.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Through Decree No. 6,499/08, the President of Brazil set maximum limits for </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ceding </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of premiums </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to reinsurance </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>companies in each calendar year. For</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> local insurers</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, such maximum limit was 10.0% of premiums, and for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> local reinsurers</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 50</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.0% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of premiums</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. In the case of local insurers,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> CNSP Resolution No. 203/09 raised the limit </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>for local insurers </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>from 10</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.0% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to 25</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.0% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the case of guarantees for public obligations and oil risks</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CNSP</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Resolution No.194/08, to up to 100%, in the case of nuclear risks. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CNSP Resolution No. 241/11 was introduced to enable the transfer of certain risks associated with reinsurance or retrocession operations to reinsurers not authorized by SUSEP when the lack of capacity of the local, permitted and eventual reinsurers is proved, regardless of the price and conditions offered by these reinsurers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CNSP Resolution No. 322/15 amended Article 14 of CNSP Resolution No. 168/07, such that the maximum currently allowed limit for which an insurer or reinsurance company based in Brazil may transfer risks to related companies or to companies headquartered abroad, belonging to the same financial conglomerate is 20.0%. An annual increase of this percentage is expected, gradually, up to 75.0% beginning in January 2020. In addition, Article 15, which provides for minimum compulsory contracting of 40.0%, of the transfer of reinsurance, with local reinsurers, was amended so as to provide an annual and gradual reduction of up to 15.0%, beginning in January 2020.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2017, CNSP Resolution No. 353/17 modified CNSP Resolution No. 168/07 to eliminate the minimum requirement of contracting local reinsurers. However, Article 15 of CNSP Resolution No. 168/07 requires the insurance company to give preference to local reinsurers in at least 40% of its reinsurance assignments related to automatic or optional contracts. CNSP Resolution No. 353/17 also eliminated the limitation on the transfer of risks from insurers to companies associated to their economic conglomerate, establishing that such <FONT style="FONT-SIZE: 10pt" face=Arial>transactions </FONT>shall "ensure the effective transfer of risk between the parties" and "be conducted at arm's length conditions".</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On December 31, 2017 there were 121 reinsurers authorized to operate in the Brazilian market, including IRB</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>-Brasil RE</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and Lloyd's of London, and 23 reinsurance brokerage firms had the required authorization to intermediate reinsurance and retrocession operations.</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, the Bradesco Auto/RE paid R$191.1 million in reinsurance premiums. Almost all property and casualty lines, except for the automobile line, have reinsurance protection and the majority of them feature proportional and non-proportional plans per risk and/or event.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Senior Management is responsible for the reinsurance purchase policy and the approval of reinsurers with whom agreements are entered into. In addition to minimum legal and regulatory requirements, Senior Management considers certain other key parameters when choosing such partners, thus minimizing the credit risks inherent in the operation, such as: minimum rating A- (or equivalent) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>from rating agencies</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, except for </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>local reinsurers</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and shareholders&#8217; equity consistent with the amounts ceded. Accordingly, our reinsurance purchase policy is designed to operate within its automatic contractual capabilities, therefore preventing the frequent purchases of optional agreements and higher exposures to the credit risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A significant portion of automatic and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>optional </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>agreements (proportional and non-proportional) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is transferred </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to IRB - Brasil RE. Certain admitted reinsurers participate with a lower individual percentage, but all of them hold capital and a rating higher than those minimum set forth by applicable Brazilian legislation.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pension plans</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have managed individual and corporate pension plans since 1981 through our wholly-owned subsidiary Bradesco Vida e Previd&#234;ncia, which is now the leading pension plan manager in Brazil, as measured by investment portfolio and technical provision criteria, based on information published by Fenaprevi and SUSEP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Vida e Previd&#234;ncia offers and manages a range of individual and group pension plans. Our largest individual plans in terms of contributions known as VGBL and PGBL are exempted from withholding taxes on income generated by the fund portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, Bradesco Vida e Previd&#234;ncia accounted for 27.9% of the pension plan and VGBL market in terms of contributions, according to SUSEP. On December 31, 2017, Bradesco Vida e Previd&#234;ncia accounted for 27.7% of all supplementary pension plan assets under management, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>27.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% of VGBL, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>25.3</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% of PGBL and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>47.9</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% of traditional pension plans, according to Fenaprevi.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian law currently permits the existence of both "open" and "closed" private pension entities. "Open" private pension entities are those available to all individuals and legal entities wishing to join a benefit plan by making regular contributions. "Closed" private pension entities are those available to discrete groups of people such as employees of a specific company or a group of companies in the same sector, professionals in the same field, or members of a union. Private pension entities grant benefits on the basis of periodic contributions from their members, or their employers, or both.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We manage pension and VGBL plans covering 2.9 million participants, 67.4% of whom have individual plans, and the remainder of whom are covered by company plans. The company&#8217;s plans account for 24.8% of technical reserves.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under VGBL and PGBL plans, participants are allowed to make contributions either in installments or in lump-sum payments. Participants in pension plans may deduct the amounts contributed to PGBL up to 12.0% of the participant's taxable income when making their annual tax declaration. Under current legislation, redemptions and benefits are subject to withholding tax. VGBL plan participants may not deduct their contributions when declaring income tax. At the time of redemption, or when benefits are paid out, tax will be levied on these benefits, pursuant to current legislation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>VGBL and PGBL plans may be acquired by companies in Brazil for the benefit of their employees. In 2017,</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Bradesco Vida e Previd&#234;ncia managed R$150.3 billion in VGBL and R$30.8 billion in PGBL plans.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Bradesco Vida e Previd&#234;ncia also managed R$24.5 billion in pension plans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Vida e Previd&#234;ncia also offers pension plans for corporate customers that are in most cases negotiated and adapted to the specific needs for this type of customer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Vida e Previd&#234;ncia earns revenues primarily from:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pension and PGBL plan contributions, life insurance and personal accidents premiums and VGBL premiums;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>revenues from management fees charged to participants in accordance with mathematical provisions; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest income.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>45</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=right><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Capitaliza&#231;&#227;o is the leader among private sector </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>capitalization bond </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>companies, according to SUSEP and offers its customers capitalization bonds with the option of a lump-sum or monthly contributions. Plans vary in value (from R$20 to R$50,000), form of payment, contribution period, and periodicity of draws for cash prizes of up to R$1.4 million (net premiums). </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Plans are adjusted based on the Reference Rate (TR)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> plus interest over the value of the mathematical provision, which may be redeemed by the shareholder at the end of the grace period. As of December 31, 2017, we had around 7.3 million "traditional" capitalization bonds and around 15.9 million incentive capitalization bonds. Given that the purpose of the incentive capitalization bonds is to add value to the products of a partner company or even to provide an incentive for its customer to avoid delinquency, the plans are for short terms and grace periods with low unit sales value. At the end of 2017, Bradesco Capitaliza&#231;&#227;o had approximately 23.3 million capitalization bonds and 2.9 million customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The investment grade rating of Bradesco Capitaliza&#231;&#227;o on a domestic scale is "brAA-," assigned by S&amp;P Global rating agency.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Distribution channels of insurance products, pension plans and capitalization bonds</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We sell our insurance products, pension plans and capitalization bonds through our website, through exclusive brokers based in our network of bank branches, and non-exclusive brokers throughout Brazil, all of whom are compensated on a commission basis. Our capitalization bonds are offered through our branches, the Internet, our call center, ATMs and external distribution channels. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the distribution of sales of these products through our branches and outside our branches:</FONT></P>

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   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="48%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of total sales, per product</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance products</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales through the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales outside the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>61.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>61.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>62.0%</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Pension plans products</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales through the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>88.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>89.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>87.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales outside the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.8%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Capitalization bonds</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales through the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>86.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>92.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>87.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales outside the branches </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.3%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.0%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left>&nbsp;</P>

<a name="_bclFooter46"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>46</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT><FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Bradesco</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_47"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader47"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Distribution channels</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our main distribution channels as of the dates indicated below:</FONT></P>

<DIV align=left>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Distribution Channels </FONT></B><SUP><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif>(1)</FONT></B></SUP><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif> </FONT></B><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Units</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Service Stations </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>73,474</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>72,604</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>76,800</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Branches</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,749</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,314</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,507</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>PAs - Service Points </FONT><SUP><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,899</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,821</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,511</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>PAEs - ATMs located on a company&#180;s premises</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>928</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,013</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>736</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>External ATM Network - Bradesco </FONT><SUP><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3) (4)</FONT></SUP></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>63</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>186</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>627</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banco24Horas Network</FONT><SUP><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> (3)</FONT></SUP></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,050</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,972</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,721</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Expresso (Banking Correspondents)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38,708</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38,430</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,560</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Financiamentos</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,002</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,791</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,124</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Losango Customer Service Points</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>63</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>63</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Branches/Subsidiaries abroad</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>ATMs</FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,849</FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,110</FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50,467</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Network</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>35,590</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,119</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,527</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banco24horas Network</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21,259</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19,991</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18,940</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> We offer products and services also through digital channels such as: (i) contact center; (ii) mobile app; and (iii) internet banking;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> PA (Service Points): a result of the consolidation of PAB (Banking Service Branch), PAA (Advanced Service Branch) and Exchange Branches, according to CMN Resolution No. 4,072/12;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Including overlapping ATMs within Bradesco&#180;s own network and Banco24Horas network; </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> This decrease is related to the sharing of external network ATMs by the Banco24Horas network ATMs; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(5) </FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As from 2017, we started to consider service posts for payroll-deductible loans and dealers/resellers for vehicle financing. </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For better comparability, the previous periods were adjusted.</FONT></P></TD></TR></TABLE></DIV></DIV>

<P></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Partnerships with retail companies</FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> &#8211; Bradesco Expresso </FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0.25in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;Bradesco Expresso&#8221; enables us to expand our share of the correspondent bank segment through partnerships with supermarkets, drugstores, grocery stores, department stores and other retail chains. These companies provide basic banking services like the receipt of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>utility bills</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, payment vouchers, withdrawals from current and savings accounts and social security benefits, and deposits, among others. The services are provided by employees at the relevant establishments, while decisions regarding granting of credit or opening of accounts are made by us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0.25in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main services we offer through Bradesco Expresso are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receipt and submission of account application form;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receipt and submission of loans, financing and credit card application form;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>withdrawals from checking accounts and savings accounts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Social Security National Service (INSS) benefit payments;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>checking accounts, savings accounts and INSS balance statements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receipt of utility bills, bank charges and taxes; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>prepaid mobile recharge.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the Bradesco Expresso network totaled 38,708 service stations, of which 7,189 were new service stations, with an average of 40.9 million monthly transactions or 2.0 million transactions per business day.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Digital Channels</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Digital Channels offer mobility and autonomy to customers so that they may </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>use the Bank from wherever they are and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>expand their businesses with us. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mobile phones and tablets have become part of people&#8217;s day-to-day lives, which reinforces our role of creating new features adapted to the user and, thus, engage our clients to make easier and more secure transactions. </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>47</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to traditional and consolidated service channels, such as Automatic Teller Machines (ATMs), telephone service, and Internet Banking, clients have access to an extensive portfolio of products and services through Bradesco Celular, available from the most simple to the most sophisticated devices. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Below is a brief description of our digital channels:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Social Networks</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - Since 2004, we have had a strong presence on Social Networks, monitoring our brand and our products and services, providing service to clients and non-clients 24 hours a day, seven days a week, with a 5-minute response time and a dedicated team, specialized in social media.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We maintain relationship with digital content creators in Brazil, such as bloggers, vloggers, and other publishers 2.0. The goal of this activity is to open a direct dialogue with them and their audiences, significantly expanding the dissemination of products, services, and channels, and above all, to encourage the production of digital content in Brazil, strengthening this ecosystem and enhancing our profile in these networks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Celular -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Our presences on mobile phones has been growing exponentially. Through apps for individuals and legal entities, we make payment transactions, transfers, balance inquiries, loans, and many other conveniences available. Clients that access their accounts through their mobile phone are not charged by their data package due to an agreement made with Brazil&#8217;s major mobile network operators. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Products and services available through Bradesco Celular include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 71.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BIA &#8211; Bradesco Artificial Intelligence (Bradesco Intelig&#234;ncia Artificial):</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> BIA is an artificial intelligence tool, based on IBM's cognitive platform Watson Artificial Intelligence that interacts with the user, answering questions about the Bank's products and services through a chat for desktop and mobile. The Bank's Branch Network also uses the tool, providing faster services, convenience for the employees and autonomy for the managers. Since August 2017, BIA is available to the clients in the application Bradesco Celular assisting in the relationship with them by voice or text.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have already counted more than 7 million BIA interactions, with a positive feedback rate above 82%;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 71.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Opening Accounts: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>available in the Bradesco Applications (Classic), it allows new clients to open an account through their mobile phone, without going to the branch. The opening of the account is confirmed via e-mail, push and SMS within three days from its validation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 71.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sharing Proof of Payment: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the client is able to share the proof of payment by e-mail or instant message applications, to save and even print it, in a practical manner through the client's smartphone;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 71.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Real Estate Credit Simulator: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the client can request a quote for a real state financing through the application and receive it within one hour;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Check Deposit via Mobile: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>revolutionary in Brazil, this service allows customers to deposit checks in a simple and innovative manner, through the capture of images by their smartphone cameras;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Security Key (M-Token) integrated with the mobile device: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is a security device store inside the phone that generates random combinations for the validation of transactions made through our digital channels;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Payment with a barcode reader:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> to pay a bill, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the client points the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> camera at the barcode, automatically accessing relevant payment information;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Touch ID and Fingerprint:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> this allows the client to associate their digital finger-print to the four-digit password and to the security key, enabling faster and more practical access to the account using these apps;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Bradesco Net Empresa Celular (Bradesco Net Company Mobile Banking): </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>allows legal entities to manage their corporate banking at anytime and anywhere;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>DDA Authorization via SMS: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>service that enables paying or scheduling payments registered in the DDA by simply replying to an SMS;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SMS Pay Bradesco: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>clients can pay or schedule utility bills of affiliated networks by replying via SMS;</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>InfoCelular: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>sending alerts via SMS with information on current and savings accounts, as chosen by the client; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SMS Banking: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>through interactive messages, enables the client to make balance enquiries, check latest entries, credit limits, and refill prepaid mobile phones.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Internet - </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We were the first financial institution in Brazil to have an electronic address on the internet and provide financial services to our clients through this channel, transforming our websites into business tools and important sources of information for clients and non-clients.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This structure has two main areas of access and dissemination of content:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Institutional Website</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: simplified content and language adapted for digital media which provides clients and the public at large a wide range of information on various financial products and services. Currently, we have 38 institutional websites, where the public has access to content, where they can clarify doubts and have access to information about how to open a checking account, services available in our branch network and remote channels, guidance on security, disclosure of social and environmental actions, specific investor publications, content on financial education, simulators, and responsible credit, among others; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Internet Banking for Financial Services:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our web portal includes 16 operational sites that enable banking transactions for our account holders, in a &#8220;secure access&#8221; environment that enables the execution of services and financial transactions. We provide various products and services that enable our clients to conveniently, quickly, and securely conduct transactions such as the payment of bills, transfers between accounts, payment of taxes and obtaining personal credit and a homebroker for the purchase, sale and management of assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currently, we use the &#8220;banco.bradesco,&#8221; top-level domain or generic top-level domain ("gTLDs"), an initiative of the Internet Corporation for Assigned and Numbers ("ICANN"), a body responsible for internet protocols and which regulates addresses on the worldwide internet. Our new website addresses makes the access to our content more practical and intuitive.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Self-service -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Our self-service channel provides convenience to clients, giving access to transactions outside the branch&#8217;s internal environment and enabling the marketing of our products with the challenge of consolidation as a business channel.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Service Network has 35,590 ATMs strategically located across the country; including machines that offer an immediate deposit feature (the cash deposited is also used for withdrawals, reducing the cost of supply). The Service Network also includes 21,259 machines of Banco24Horas allowing our customer to make withdrawals, check balances, obtain statements, contract loans, pay bills, make transfers between Bradesco accounts and utilize DOC/TED, Prepaid Card, and Proof of Life INSS (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Prova de Vida</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our ATMs have highly advanced security technology: biometric reading </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>that identifies customers and authenticates ATM transactions works through a sensor/invisible light beam that captures the image of the vascular pattern of the palm of the hand. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The biometric reading enables our customers to, for example, carry out transactions without a card, by simply using the palm of their hand and their six-digit password, providing convenience and speed without compromising the security. In our own network it is possible to carry out all transactions without a card, while the Banco24Horas network currently only allows making withdrawals and checking balances without a card.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This security and speed resulted in a partnership with the INSS, allowing our retirees and pensioners to carry out the &#8220;Proof of Life&#8221; (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Prova de Vida</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) automatically through the use of biometrics on ATM machines belonging to our network and to the Banco24Horas network, without the need to present a document to a teller, thus speeding up the process. Biometrics is available in 100% of ATM machines belonging to our own network and those of the Banco24Horas network.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Telephone services -</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Fone F&#225;cil</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Contact Center) -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Fone F&#225;cil Bradesco allows clients to bank by telephone, which can be accessed by choosing electronic service or personalized service. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the electronic service, we provide a sophisticated service system powered by voice command, which provides clients the experience of doing what they want to do through simple voice commands, without the need for listening to various service options and having to choose them by typing the option on the telephone. The client can request the desired service directly. </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the personalized service, on the other hand, clients can rely on our financial specialists and digital convergence agents 24 hours a day, seven days a week, specializing in relations and business. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Through this channel we offer our main financial services, such as payments, transfers between Bradesco accounts, DOC/TED, investments, credit contracting, support and registration of the security device in the mobile phone, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>By calling </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fone F&#225;cil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, clients can access other relationship centers, such as for credit cards, private pensions, and capitalization, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit, private and internet banking, among others</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, 95.1% of our banking transactions were performed through digital channels. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The table below shows the number of transactions carried out through digital channels:</FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>In millions of transactions</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Internet Individuals + Companies - with WebTA <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,449 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;4,847 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.4%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>ATMs</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2,052 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,985 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.4%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Mobile Banking (Bradesco Celular)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;7,783 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;5,446 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>42.9%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Telephone Banking (Fone F&#225;cil)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;195 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;231 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(15.6)%</FONT></P></TD></TR>

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   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;15,479 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;12,509 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23.7%</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> WebTA is an internet file transmission service, to the Bank, carried out by corporate customers using Net Empresa.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif>Next</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2017, we launched Next, a digital platform (Digital Bank) accessed by the client through an app for iOS and Android. Next's goal is to attend a new range of clients aged between 18-35 years and people connected to new technologies. Next interacts with the user based on his behavior using interactive tools and makes the management of money easier, offering convenience in day-to-day activities and intelligent solutions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Next has a branch in digital format with consultant managers that works 24/7 to provide customer service via chat, email and social networks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra is a platform designed to promote innovation inside and outside Bradesco, a mission carried out through programs based mainly on co-innovation, involving collaboration between the bank, companies, startups, investors and mentors to address the challenges and the sustainability of business in the long term. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>It is composed of eight features described below.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra startups</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: our innovation program was created to establish strategic partnerships with startups and seek new business models applicable or adjusted to the products and services of our organization. This program gives the startups opportunity to work with actual customers, test practical solutions and grow in scale.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra ventures</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:&nbsp; an investment fund formed as a corporate venture with R$100 million to invest in startups;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra centers:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> internal innovation program to create innovative solutions to business challenges. The teams work and colaborate with external startups that test their innovative solutions with actual clients through the program inovaBra startups;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra artificial intelligence:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> a center composed of data scientists who are responsible for the deployment of artificial intelligence and cognitive computing in the organization;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra lab: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>located in the Bradesco center in Alphaville, which centralizes 16 laboratories in the areas of technology and business to accelerate the process of prototyping, testing, approval and hackathons working collaboratively with technology partners;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>inovaBra habitat: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>space of co-innovation dedicated to the generation of high-impact business based on disruptive digital technologies, where companies, startups, investors, mentors and educators work collaboratively to innovate;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 0.5in; TEXT-INDENT: 0in"><A name="_Toc479577594"></A><A name="_Toc415063372"></A><A name="_Toc292442696"></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 0.5in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra hub: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a collaborative digital platform where companies, startups and entrepreneurs have access to exclusive content, exchange experiences and do business; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inovaBra international:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> office located in New York to establish strategic alliances with global partners, prospect innovations with startups, and experiment with new business models.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Segmentation of Clients</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We operate a model of client segmentation, which groups certain clients of the same profile together, thus furthering our ability to provide a personalized service to our clients, in accordance with their needs. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our five segments offer a range of products and differentiated services that are tailored to companies and individuals. We present below our segmentation of clients:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 14pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Client Segmentation</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporations</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Corporate</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Large companies, with annual revenues of more than R$250 million</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Empresas</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Midsized companies, with annual revenues between R$30 million and R$250 million</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Varejo (Empresas e Neg&#243;cios)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Small companies, with annual revenues of up to R$ 30 million</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Individuals</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Private Bank</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Clients with availability for investments&nbsp; from R$5.0 million</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Prime</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - individuals with monthly income from R$10 thousand or availability of investment from R$100 thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Varejo Exclusive</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Clients with a monthly income between R$4 thousand and R$9,999.99, or availability of investment from R$40 thousand.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Varejo</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Classic</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> - Clients with a monthly income of up to R$ 3,999.99 or availability of investment of less than R$40 thousand.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Corporate</FONT></I></B>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Corporate segment is responsible for serving 2,198 business groups in a range of large corporations and institutional investors (revenues over R$250.0 million/year). Its offices are located in the main financial centers, offering customized services with a global reach. Bradesco Corporate counts on a highly skilled team to fulfill customers&#180; needs through a wide portfolio of products, structured solutions and financial services.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Empresas</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Empresas offers specialized services and integrated solutions in cash management, loans and financing, foreign trade, consortiums (pre-purchase financial pool), insurance, corporate cards and structured operations in the area of capital markets for companies with annual revenues between R$30 million and R$250 million/year. It has sub-segments called Company Spaces (Espa&#231;o Empresas) with 98 units located across the country to serve economic groups from specific micro regions with annual revenues between R$30 million and R$50 million/year, Companies (Empresas) with 70 units located in the main Brazilian cities to serve economic groups with annual revenues between R$30 million and R$250 million/year, and High Middle with 2 units in S&#227;o Paulo to serve economic groups located exclusively in S&#227;o Paulo with annual revenues between R$180 million and R$250 million/year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Private Bank</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The sole purpose of Bradesco Private Bank is to advise high net-worth individuals, family-owned holding companies and investment companies with a high net availability for investments. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Through its open architecture model, it offers tailored products and services, including banking, advisory services, local and international asset allocation and portfolio management, as well as advice on choosing the best vehicles and investment structures for the perpetuation of the family&#8217;s estate. In addition, the client can access our entire structure, including credit, investment banking, brokerage, insurance, and pensions, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currently, Bradesco Private Bank has 15 offices located in: S&#227;o Paulo, Rio de Janeiro, Belo Horizonte, Blumenau, Bras&#237;lia, Campinas, Cuiab&#225;, Curitiba, Fortaleza, Goi&#226;nia, Manaus, Porto Alegre, Recife, Ribeir&#227;o Preto and Salvador, thus ensuring nation-wide presence, in addition to the support of the units abroad located in Cayman, New York and Luxembourg.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=left><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>51</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Varejo</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The focus of Bradesco Varejo are individuals with a monthly income of up to R$10 thousand and legal entities with annual revenues of up to R$30 million. Individual customers with monthly incomes up to R$3,999.99 or amounts available for investments below R$40,000 are classified as being part of the &#8220;Classic&#8221; customer designation and individual customers with monthly incomes from R$4,000 to R$10,000 or amounts available for investments from R$40,000 are classified as being part of the &#8220;Exclusive&#8221; customer designation. Companies with annual revenues of up to R$30 million are classified as being part of the &#8220;Empresas e Neg&#243;cios&#8221; designation. The retail area provides customized services with adequate financial solutions for each profile.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Bradesco Varejo service network comprises 4,422 branches, 3,838 service stations, 928 electronic service stations and 38,708 Bradesco Expresso units, in addition to thousands of ATMs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The customer service network offers products and services in remote places, of difficult access and also in regions with large concentrations of people with lower purchasing power, for example the Communities of Rocinha, Cidade de Deus, Rio das Pedras, Complexo do Alem&#227;o, Gard&#234;nia Azul, Cantagalo, Turano, Santa Marta, Mangueira, Chap&#233;u Mangueira and Vila Kennedy in Rio de Janeiro; Heli&#243;polis and Parais&#243;polis in S&#227;o Paulo; and the boat &#8220;Voyager V,&#8221; which provides banking services to riverside communities in the Amazon region. This service is increasing access to banking services for those people who would otherwise have little or no access to banking services, thus increasing social mobility.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Prime</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Prime operates in the segment of high-income individuals and has a service network of 234 branches and 1,002 strategically positioned "Bradesco Prime Spaces." The Prime segment offers the following benefits to our clients:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>personalized services provided by relationship managers:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Experienced and skilled professionals providing full financial advisory services </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Certified by ANBIMA, each customer relationship manager manages a reduced client portfolio;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in-person and remote support from specialists:</FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> professionals certified and trained to provide financial advice to clients and managers in relation to structured operations, pension, insurance, real estate credit and foreign exchange, among others, taking into account the client's profile and needs;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exclusive facilities:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Bradesco Prime customers have access to their own network of exclusive branches offering convenience and privacy to tend to their business affairs. It </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>also counts on "Bradesco Prime Spaces," a reserved and distinctive environment installed at Bradesco Varejo branches </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>that fully maintains the segment's value proposition</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, customers count on a wide network of branches throughout Brazil, including ATMs &#8211; Bradesco Network and Banco24Horas; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exclusive products and services:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit solutions with distinct rates, diversified platform of investment products, exclusive digital channels like Bradesco Celular, internet banking, call center (Fone F&#225;cil Bradesco Prime), the Equity Management Platform, Bradesco Prime Digital and multichannel access (telephone, internet or mobile) to financial advice.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Present in all Brazilian capitals, Bradesco Prime has been, throughout its existence, investing in technology, in the improvement of the relationship with clients and in the training of its professionals. It established a prominent position in the Brazilian market of banking services for high-income clients and has consolidated its position as the largest provider of services for these clients, with strategically positioned service stations throughout Brazil.</FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Main subsidiaries</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 12.75pt 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following is a simplified chart containing our main subsidiaries in the activities of financial and insurance services and our voting interest as of December 31, 2017. With the exception of Bradesco Argentina, Bradesco Europa, Bradesco Grand Cayman Branch and Bradesco New York Branch, the other significant subsidiaries are Brazilian entities. For more information in relation to the consolidation of our significant subsidiaries, see Note 2b of our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>53</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Corporate risk management process</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Risk management is of great strategic importance to us due to the increasing complexity of services and products and the globalization of our business. The market&#8217;s dynamism encourages Bradesco to engage in the continuous improvement of this activity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We exercise control over risks in an integrated and independent manner, preserving and valuing collective decision-making, devising and implementing methodologies, models, measurement and control tools. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We also promote</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> improvement among employees at all levels, from the business areas to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> risk management process ensures that risks are proactively identified, measured, mitigated, monitored and reported, as required for the complexity of our financial products and services and the profile of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> activities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Risk and Capital Management Structure</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The structure of our risk</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and capital</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> management function consists of committees, responsible for assisting our Board of Directors and our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in making strategic decisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Integrated Risks Management and Capital Allocation Committee (</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>COGIRAC</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, is responsible for advising the Board of Directors on the performance of its roles in the management and control of risks and capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The committee is assisted by the Capital Management Executive Committee and the Executive Committees for Risk Management of: (i) Credit; (ii) Market and Liquidity; (iii) Operational and Socioenvironmental; and (iv) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Grupo Bradesco Seguros and BSP Empreendimentos Imobili&#225;rios</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. There are also </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the Executive Products and Services Committee, and executive committees</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> for our business units, whose tasks include suggesting limits for exposure to their related risks and devising mitigation plans to be submitted to COGIRAC and the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In compliance with CMN Resolution No. 4,557/17, we created (i) a Risk Committee to advise the Board of Directors on the performance of its duties related to the management of risk and capital, and (ii) a Chief Risk Officer (CRO) position, which is responsible for, among other duties, supervising the development, implementation, performance and improvement of the risk management structure. The CRO reports to the Risk Committee, to the CEO and to the Board of Directors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit risk is the possibility of losses associated with a borrower&#8217;s or counterparty&#8217;s failure</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to comply </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with their respective </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> obligations under agreed terms</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> as the depreciation of loan agreements resulting from deterioration in the borrower's risk rating, the reduction in gains or remunerations, including benefits granted in renegotiations, recovery costs and other amounts related to the counterparty&#8217;s non-compliance with financial obligations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit risk management is a continuous and evolving process of mapping, development, assessment and diagnosis through the use of models, instruments and procedures that require a high degree of discipline and control during the analysis of operations in order to preserve the integrity and independence of the processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;We seek to control </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our exposure to credit risk, which mainly results from loans and advances, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>securities </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and derivative financial instruments. Credit risk also stems from financial obligations related to loan commitments and financial guarantees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order not to compromise the quality expected from the portfolio, committees monitor all relevant aspects of the process of lending, concentration, collateral requirements, maturities, and other aspects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We continually outline all the activities that can potentially generate exposure to credit risk, with the respective classifications regarding probability and size, as well as identifying managers, measurement and mitigation plans for those activities. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit Risk Management Process</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit risk management process is conducted in a centralized manner for the institution as a whole. This process engages several particular areas, which ensure an efficient framework to provide for independent and centralized credit risk measurement and control.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Credit Risk </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>monitoring</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> area </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is actively engaged</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in improving the customer risk rating models, following up large risks by periodically monitoring major delinquencies and the provisioning levels </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>due to </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>expected and unexpected losses</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This area continuously </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reviews</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the internal processes, including the roles and responsibilities, information technology training and requirements and periodic review of risk assessment, in order to incorporate new practices and methodologies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Corporate control and monitoring of our credit risk take place in the credit risk unit of the Integrated Risk Control Department. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> department </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>assists</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the Credit Risk Management Executive Committee on discussions and implementation of the methodologies to measure the credit risk. Relevant issues discussed by this committee are reported to COGIRAC, which reports to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to the committee meetings, the business area holds monthly </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>meetings</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> with officers and heads of products and segments to ensure they are informed about the evolution of the portfolio of loans and advances, delinquency, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>adequacy of levels of losses by reducing the recoverable value of loans and advance payments</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, credit recovery, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>gross and net losses, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>portfolio limits and concentrations, and other items. This information is also</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> monthly</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> reported to the Audit Committee.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The business area also tracks each internal or external event that may significantly impact credit risk such as mergers, bankruptcies or crop failures and monitors sectors of economic activity in which we have </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>most </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>representative exposures</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Both the governance process and limits are validated by COGIRAC, submitted for approval by the Board of Directors, and reviewed at least once a year.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market Risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market risk is the possibility of a loss of income due to fluctuations in prices and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest rate of the financial instruments</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> resulting from mismatched maturities, currencies and indices of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> asset and liability operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This risk is identified, measured, mitigated</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> controlled</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and reported. Our profile</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of exposure to market risk</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> is in line with guidelines established by the governance process, with limits that</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> are monitored on a </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>timely and independent</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>All transactions </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exposing us</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to market risk are mapped, measured and classified according to probability and magnitude, with </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the whole process</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> approved by the governance structure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our r</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>isk</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> management process involves the participation of all levels, from business units to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In line with corporate governance and in order to preserve and strengthen our management of market and liquidity risks, as well as to meet the requirements of CMN Resolution No. 4,557/17, the Board of Directors approved the Market Risk Management Policy, which is reviewed at least annually by the relevant committees and the Board of Directors itself, providing the main operational guidelines for accepting, controlling and managing market risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to this policy, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>we have</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> several specific rules that regulate the market risk management process, including:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>classification of operations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reclassification of operations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>trading in government or private securities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>use of derivatives; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>hedge.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market Risk Management Process</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our market risk management process is run on a corporate wide basis, ranging from business areas to the Board of Directors. This process allowed us to be the first financial institution in the country authorized by the Central Bank to use, since January 2013, in-house models of market risk to check the need of regulatory capital. The management process, approved by the Board of Directors, is also </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reassessed</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> at least annually by the relevant committees and the Board of Directors itself.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Definition of limits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Proposed market risk limits are validated by specific committees for approval by COGIRAC, to be submitted to the Board of Directors depending on the characteristics of business, which are separated into </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the following portfolios:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Trading portfolio</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: comprises all operations involving financial instruments, including derivatives, held-for-trading or used to hedge other instruments in our own portfolio, which have no trading restrictions. Held-for-trading operations are those destined for resale, to obtain benefits from actual or expected price variations, or for arbitrage.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The trading portfolio is monitored by limits of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Value at Risk (VaR);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>stress;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>results; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial exposure</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/concentration</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking portfolio</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>comprises transactions not qualifying for our trading portfolio, deriving from our other businesses </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and their respective hedges. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The banking portfolio is monitored by limits related to the interest rate risk. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market risk is controlled and monitored by an independent business unit, the Integrated Risk Control Department, which calculates risk of outstanding positions on a daily basis, consolidates results and reports as required by the existing governance process.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to daily reports, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the positions of the trading portfolio </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are discussed weekly by the Treasury Executive Committee and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the positions of the banking portfolio and liquidity reports are handled every fortnight by the Treasury Executive Committee for the Management of Assets and Liabilities. In both committees, the results and the risks are evaluated and the strategies are discussed. Both the governance process and the existing limits are validated </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by COGIRAC and submitted for approval by the Board of Directors, which are reviewed at least once a year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In case of any risk limit breach monitored by the Integrated Risk Control Department, the head of the business unit in charge is informed of the limit usage and, in a timely manner, COGIRAC is called in order to make a decision. If the committee chooses to increase the limit and/or change or maintain the positions, the Board of Directors is called to approve a new limit or to review our strategy with regard to this particular risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information on how we evaluate and monitor market risk, see "Item 11. Quantitative and Qualitative Disclosures about Market Risk."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Liquidity risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Liquidity risk </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is represented by the possibility of the institution failing to effectively comply with its obligations, without affecting its daily operations and incurring significant losses, as well as the possibility of the institution to fail to trade a position at market price, due to its larger size as compared to the volume usually traded or in view of any market interruption.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Understanding and monitoring this risk is crucial, especially for us to be able to settle transactions in a timely and secure manner.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Liquidity Risk Management Process</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We manage our liquidity risk process on a group-wide </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>basis. This process involves a number of areas with specific responsibilities, and the liquidity risk is measured and controlled on a </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>centralized and independent basis</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> with daily monitoring of available funds and compliance with liquidity levels, according to the risk appetite established by the Board of Directors, as well as the contingency and recovery plan for potential high-stress situations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> policy for market liquidity and risk management</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> approved by the Board of Directors, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is mainly aimed at</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> ensuring</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the existence of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> standards, criteria and procedures to guarantee the development of the Short-Term Liquidity Ratio (LCR), in compliance with Resolution No. 4,401/15, as well as the strategy and action plans for liquidity crisis situations. The policy and controls we established fully comply with CMN Resolution No. 4,557/17.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We also have rules for the daily monitoring of liquidity levels through a warning flag that triggers the submission of reports and the actions to be taken given the risk presented.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our liquidity risk is managed by the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Treasury Department</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, based on the positions provided by the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> back-office controls positions, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>provides liquidity information to our Management and monitors </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>56</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>compliance with established limits. The Integrated Risk Control Department (DCIR) is responsible for the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>methodology</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of measurement</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, control over limits established by type of currency and company (including for non-financial companies)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, reviewing policies, standards, criteria and procedures, and drafting reports for new recommendations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since October 2017 we use the Short-Term Liquidity Ratio (LCR) as the main standard for the internal management, as provided in the CMN Resolution No. 4,401/15 and the Central Bank's Circular No. 3,749/15.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Liquidity risk is monitored daily by business and control areas and at meetings of the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Treasury Executive Committee for Asset Liability Management</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, which </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>controls the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>liquidity </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>levels</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. Additionally, monitoring activity is also conducted by COGIRAC and by the Board of Directors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational Risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> risk is represented by the possibility of incurring losses arising from failures, deficiencies or the inadequacy of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> internal processes, people, systems and external events. This includes legal risk, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>associated with the activities we carry out</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational Risk Management Process</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We carry out operational risk process throughout the organization. This involves a number of areas, with specific responsibilities, thus ensuring an efficient structure, and operational risk is measured and controlled on a centralized and independent basis. Accordingly, the following procedures are carried out:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>i</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>dentifying, assessing, and monitoring the operational risks inherent in our activities, as well as those related to new products/services and their adequacy to procedures and controls;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>m</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>apping and addressing records of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>operational losses</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to make up an internal data base</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ensuring the integrity of data from losses collected and provide analyses that offer quality information to </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>several business areas/branches</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, aimed at improving operational risk management;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>m</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>easuring, controlling and reporting increased operational losses by way of assessing the effectiveness of the mitigating measures of business areas/branches;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>evaluating, together with managers, the indicators, scenarios, and external data from operating losses in order to incorporate/adjust any processes and controls, as well as to quantify the impact on economic capital; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ssessing and calculating capital needs in connection with the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>operational risk in regulatory capital and economic visions; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reparing reports on the operational risk for </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>submission to the Committees, to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>related areas.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These procedures are supported by a number of internal controls, validated on an independent basis in relation to their effectiveness and operations, to ensure acceptable risk levels in our processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational risk is primarily controlled and followed up by an independent area, Integrated Risk Control Department is supported by a number of areas that integrate the management process of this risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Integrated Risk Control Department is responsible for the coordination of the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Internal Control and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Operational Risk </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Commission (&#8220;CIRO&#8221;), which reports to CEROS. This commission analyzes the behavior of the operational losses of the business areas/branches, the efficiency and effectiveness of the processes and controls adopted, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the provision methodologies and their impact on the management of operational risk and evaluate indicators, scenarios, and external data from operating losses in order to incorporate/adjust eventually, processes and controls.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Integrated Risk Control Department is the advisory unit of CEROS, whose objective is to advise </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> on the performance of their duties relating to the management of operating risk, business continuity, socio-environmental risks, and conduct risk. The relevant issues debated in this instance are reported to COGIRAC, which reports to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The governance process is approved by the Board of Directors </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> reviewed at least once a year.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Internal controls and compliance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The efficacy of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> internal controls is supported by trained professionals, well-defined and </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>57</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>implemented processes</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, and by</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> technology compatible with business needs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>T</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>he internal control methodology is</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> based in the criteria established in the Internal Control &#8211; Integrated Framework (2013) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>issued by the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Committee of Sponsoring </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Organization</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of the Treadway Commission </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(&#8220;COSO&#8221;), and is also in line with the guidelines established by the Information Systems Audit and Control Association (&#8220;ISACA&#8221;) through the Control Objectives for Information and Related Technology (&#8220;COBIT 5&#8221;), and with the procedures described by the Public Company Accounting Oversight Board (&#8220;PCAOB&#8221;) for analysis of the Entity Level Controls (&#8220;ELC&#8221;). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The existence, enforcement </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and efficacy </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of controls that ensure acceptable risk levels in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> processes are certified </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by the area responsible for the execution of the tests of adherence of the controls</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, the results of which are conveyed to the Internal Controls and Compliance Audit Committees, as well as to the Board of Directors, with the purpose of providing assurance</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> with regard to appropriately carrying out business transactions and achieving defined objectives, in accordance with external laws and regulations, internal policies, rules and procedures, as well as applicable codes of conduct and self-regulation.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management and Processes in Cybersecurity</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We consider cyber and information security at the highest strategic level and we manage this subject in order to protect our technological infrastructure against intrusion attempts, unauthorized access and malicious codes. We operate in a preventive, detective and corrective manner in order to protect the information of the organization and of our clients.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this sense, we have evolved our security framework considering the new digital context, where the focus on cybersecurity is a key aspect and one of the pillars of technology and processes, establishing data protection for our clients, resiliency, and structure to identify threats, detection, and response and recovery procedures in cases of cyber attacks. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Regarding the technical aspects, to prepare against and anticipate security and cybernetic threats, the IT area promotes continuous investments like the reformulation of the critical updates of servers and workstations, process of inspection of source code in the development cycle, establishment of a lab for security tests and use of technologies/tools. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have systems to prevent against attacks from external connections and the internet, systems for the analysis of fraudulent behaviour, unauthorized access, malicious codes, analysis of network behaviour, protection against invasion (intrusion detector), firewall, antivirus and antispam systems, all to provide protection to our IT environment. We continuously upgrade the security over our software and hardware, digital certification in WEB servers and the encryption equipment, in addition to performing frequent resilience tests.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We implement continuous monitoring mechanisms, such as security operational centers (SOCs), focusing on the identification of potential vulnerabilities and establishing an active defense. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, we have a cyber intelligence team working to identify threats and check the necessary corrective measures. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We adopt strict procedures to ensure the security of client information. The interactions and synergies between management and technical areas aim to create solutions to provide secure access to service channels, in order to minimize exposures and vulnerabilities. We have a range of security devices and technologies, including biometrics, chip cards, 2D digital validation/QRcode and OTP devices (physical and cell phone token, etc.), which are used to prevent fraud and unauthorized access. Educating clients on cyber risks is a key component of our strategy in this regard. In this sense, we develop awareness campaigns through the channels used by clients and on social media. On the website "seguranca.bradesco" there are several guidelines to the public, including videos of the web series "Protect Yourself" with prevention tips on current key scams/fraud. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In parallel, the preparation and engagement of people is another crucial issue. The culture of security is a fundamental basis for the mechanisms, processes and technologies to be effective. For this reason, we invest in training and awareness of employees, associates and customers so they are aware of the issue and prepared and updated in relation to the inherent risks and threats. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We also have continuous programs of training and awareness on the aspects of security and an executive committee dedicated to the issue, defining strategies and ensuring the development and effectiveness of actions with activities focused on the timely protection of technological infrastructure against intrusive attempts, unauthorized access, theft of information and insertion of malicious codes.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Integrity Program</FONT></I></B></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>58</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our main corporate commitments to integrity are</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to conduct our business and develop our various relationships based on ethics, integrity and transparency, concepts that permeate our organizational culture, whose values and principles are ratified by the Corporate and Sector-based Codes of Ethical Conduct and supported by Senior Management; and</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to prevent and combat all forms of corruption, especially bribery. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Such commitments are permanently sustained through the Bradesco Integrity Program, which corresponds to a set of mechanisms and measures made up by the Ethical Code of Conduct, by Corporate Anticorruption Policies and Standards, and other standards, as well as procedures, processes, and control established therein, aimed at preventing, detecting, and remedying any harmful acts of corruption and bribery, including fraud against the Government.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The program, supported by the Ethical Conduct Committee and by the Board of Directors, determines the guidelines, responsibilities, procedures, and controls regarding gifts, freebies and entertainment, sponsorship, third parties and due diligence, bids with the Brazilian Government, political contributions, relationships with public agents, denunciations and non-retaliation against whistleblowers acting in good faith, in accordance with laws and regulations applicable in Brazil and in countries where we have business units.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We continuously evaluate the Bradesco Integrity Program to align it with the best national and international anti-corruption practices. In 2017 we fixed the issues identified in the 2016 corruption risk assessment performed in the iPolicies, Standards, Procedures, Controls and Internal Systems. We gave anti-corruption training in person to the Senior Management, to employees in areas with higher exposure to risk, and to third parties. We published a new video-training and our anticorruption program, which is focused on the Bradesco Integrity Program, and propagated the Corporate Anticorruption Policy documents and the Bradesco Integrity Program at several Bradesco sites.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For 2018, we plan a series of actions to strengthen all the pillars of the Bradesco Integrity Program, and the most important are the training courses in person, the improvements in controls concerning public agents, third parties, donations, sponsorships, acquisitions, mergers and partnerships, and the deployment of a system to monitor risks and controls based on metrics and specific indicators.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Prevention of Money Laundering and Terrorism Financing Program</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> is based on specific policies, principles, procedures and systems </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>that establish guidelines</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to prevent and detect the utilization of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our structure and/or</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our products and services for money laundering and terrorist financing purposes. This</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> program</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> is supported by the Prevention and Combat of Money Laundering and Terrorism Financing Executive Committee, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which is responsible for assessing the work as to its effectiveness</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and the need </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to coordinate</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> procedures and controls </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with regulations defined by the regulating bodies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and best </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>domestic and international </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>practices. Any suspicious or unusual cases identified are forwarded to the Committee on Assessment of Suspicious Transactions, composed of a number of our areas, which assess the need for reporting to regulatory bodies. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Independent Validation of Management and Measurement Models of Risk and Capital </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We employ internal models developed based on statistical, economic, financial, and mathematical theories and the expertise by specialists, whose purpose is to support and facilitate the structuring of issues, provide standardization and speed to decisions, and manage risks and capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order to detect, mitigate and control risks inherent in our models, which are associated with potential adverse consequences arising from decisions based on incorrect or obsolete models, inadequate calibration of models and failures in the development state or inappropriate use, there is the process of independent validation, which evaluates these aspects, challenging the methodology, the assumptions adopted, the date used, the use of models, as well as the robustness environment in which they are implanted, with results being reported to managers, Internal Audit, the Compliance and Internal Control Committee (&#8220;CCIC&#8221;) and COGIRAC.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Treasury activities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Treasury Department main objective is maximizing results with available resources and managing risks, by complying with the limits set forth by our Senior Management and the guidelines issued by our </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>integrated risk control unit.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main activities are as follows:</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>planning and managing our local and foreign currency cash flows;</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>59</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>proposing and observing our asset and liability management strategy;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>managing maturity, rate and liquidity gaps arising from our activities;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>calculating costs of operations from both the assets and liabilities sides;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>getting price estimates and managing our commercial operations that involve risks such as: market, interest rate, foreign exchange, commodities and price index risks;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>performing proprietary trading operations aimed at taking opportunities found in the range of our prospective scenario and market prices; and</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>taking part of analysis and decisions regarding directed credit and capital management.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Corporate security</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Corporate Security Department&#8217;s mission is to promote security solutions in line with our business by creating, implementing, and maintaining rules, processes, and technologies. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>To achieve its objectives, it acts strategically and corporately to ensure security of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> electronic channels, systems and information, assessing, treating, and proposing improvements, in addition to being a focal point for issuing technical opinions, in connection with strategic security issues, in the implementation of products, services or processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Among the main "Corporate Security Global Vision" responsibilities, we highlight the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: 0.7pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the Information Security area's mission is to establish the Information Security Corporate Policy and Rules, access risk, manage the Asymmetric Cryptographic Keys and Digital Certificate, keep the Registration Authority (RA) in accordance with the standards established by the Institute of Information Technology (ITI), manage incidents and keep the Corporate Program of Awareness and Education in Information Security, in order to advance employees' commitment with the subject;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: 0.7pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>in phase of deployment, the Transformation in Information Security Program (PTS)'s goal is to establish an Operational Model for Information Security (MOSI) that represents our strategic vision. In this sense, the Corporate Security is responsible for improving the aspects of Governance, Risk Management and Compliance of Information Security; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: 0.7pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>we are also in the process to be registered as a Time Stamp Authority in the context of the Brazilian Public Key Infrastructure (ICP Brazil), which will improve our digital processes. These actions aim to protect our and our clients' information, whose critical matters are approved by a multidisciplinary group called the Information Security Committee and decided by the Corporate Security Executive Committee;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56pt; TEXT-INDENT: 1.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the areas of Electronic fraud-prevention (internet banking, Net Empresa, Bradesco Celular, Fone F&#225;cil and debit card), Document Fraud Prevention (opening of accounts in the branch network and in Next Digital Bank, Bradesco app, payroll credit, vehicle financing and consortia) and Security Solutions manage processes and projects to detect and mitigate risks of any financial losses or negative impacts to our brand. They operate by monitoring the transactions of electronic service channels, preventive and reactive analysis of documents, in addition to strategic and corporate actions, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>supported by the area of Data Analysis and Modeling with analytical solutions using statistics methodologies,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in order to propose solutions to managers of technical and business areas that aim to balance the relationship between use and security for our products and electronic service access channels, and for debit cards;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56pt; TEXT-INDENT: 1.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the area of Identification and Access Management is responsible for the management of identification process and access to applications. This area protects the system resources and works with the business and technology units to establish </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>principles of minimum access and segregation of duties by allocating automated controls and coordinating all actions regarding access. It also works in the management of security devices (Token/M-Token, TanCode and Biometrics), used as a second step of authentication and authorization for employees and clients</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit policy</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our credit policy is focused on:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ensuring the safety, quality, liquidity&nbsp; and diversification of asset allocation;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>60</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pursuing flexibility and profitability in business; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>minimizing risks inherent to loans and advances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our credit policy defines criteria for lending and setting operational limits. Credit decisions are made at the branch level and, if necessary, higher levels of authority including our Board of Directors depending on the rules in our internal policy. In reviewing loan applications, our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> also approves the models for assessment and credit processes used by our branches and departments for each type of loan. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our transactions are diversified and target individuals and companies that show ability to pay and stay in good standing. In all cases, we aim to have them secured by appropriate collateral for risks involved, from the point of view of uses of funds and repayment periods, as well as risk ratings. The Central Bank&#8217;s risk rating system has nine categories ranging from "excellent" to "very poor." In line with our commitment to the ongoing development of our methodologies, the credit risk rating for our clients/economic groups is based on a range of eighteen levels, of which fourteen represent accrual loans. This ensures greater adherence to the requirements set forth in the Basel Accords. For more details, see "Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Banking Regulations &#8211; Treatment of Loans and Advances."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The lending limits set for our branches reflect size and collateral provided for loans. However, branches have no authorization to approve an application for credit from any borrower who:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>is rated less than "acceptable" under our internal credit risk classification system</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (score and rating)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>has an outdated record; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>has any relevant credit restrictions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have credit limits for each type of loan. We pre-approve credit limits for our individual and corporate customers and presently extend credits to the public sector only under very limited circumstances. In all cases, funds are only granted once the appropriate body has approved the credit line.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We review the credit limits of our large corporate customers every 180 days. Credits extended to other customers, including individuals, small and midsized corporations, are reviewed every 90 days.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our maximum exposure per client (e.g. individuals, companies or other economic groups) is determined by client rating and the aggregate maximum exposure is limited to 10.0% of our shareholders&#8217; equity. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Any cases in which the maximum level of exposure per client exceeds the thresholds as set out in the table below and in which the total exposure equals or exceeds R$2.0 billion </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are required to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> be submitted </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the Board of Directors</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> for approval</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Client Rating</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As a % of Shareholders&#180; Equity</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>AA1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>AA2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>AA3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>A1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>A2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>A3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.5</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C4</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>D</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our credit policy is continuously developing and as part of our risk management process, we continue to improve our credit granting procedures, including procedures to gather data on borrowers, calculate potential losses and assess applicable classifications. Additionally, we assess our institutional credit risk management in view of the recommendations by the Basel Accords, including:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>61</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>restructuring our methodology to calculate possible losses;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>identifying and implementing changes in our reporting processes to improve our loan portfolio management;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>restructuring our information control structure; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>assessing the organizational structure of our loan assessment practices, including analyzing the demand for technology and addressing new issues. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to individual customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For individual customers, depending on the proposed collateral, the size of the branch and suitable credit parameters, branches may authorize loans of up to R$50,000. If value and type of collateral are not within the limits established for approval at the branch level, an application is submitted to the Credit Department and, if necessary, higher levels of authority. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows individual loan limits for approval by branch managers, depending on the value and type of collateral offered:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Risk Amount</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan with no collateral</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan with collateral</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Decision&#8209;making authority</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Manager of very small branch <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 5</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 10</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Manager of small branch <SUP>(2)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 20</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Manager of average branch <SUP>(3)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 15</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 30</FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Manager of large branch <SUP>(4)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 20</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 50</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or below R$1,999,999; </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or between R$2,000,000 and R$5,999,999;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or between R$6,000,000 and R$14,999,999; and</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or above R$15,000,000.</FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We use a specialized Credit Scoring evaluation system to analyze these loans, allowing us to build a level of flexibility and accountability, besides standardizing the procedures in the process of analyzing and deferring loans. All models are constantly monitored and revised whenever necessary. Our Credit Department has a dedicated team developing models and working on the continuous improvement of these tools. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We provide our branches with tools that allow them to analyze loans and advances for individual clients in a rapid, efficient and standardized manner and to produce the corresponding loan contracts automatically. With these tools, our branches can respond quickly to clients, keep costs low, and control the risks inherent to consumer credit in the Brazilian market.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows limits established for approval of loans to individuals outside the discretion of our branches: </FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Risk Amount</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Decision&#8209;making authority</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit department </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 16,000</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit director </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 18,000</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Executive credit committee (Daily Meeting) </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 60,000</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Executive credit committee (Plenary Meeting) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 2,000,000</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Board of Directors</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>over 2,000,000</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to corporate customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For corporate customers, depending on the collateral proposed, the size of the branch and suitability in terms of credit parameters, loans of up to R$400,000 may be approved at the branch level. If the collateral </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>62</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader63"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>offered is not within the limits for approval at the branch level, the loan is submitted to the Credit Department and, if necessary, higher levels. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows limits within which branch managers may approve business loans, depending on the amount and type of credit support offered:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt">&nbsp;</P>

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<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="62%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Risk Amount</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan with no collateral</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan with collateral</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Decision-making authority</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Manager of very small branch <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>up to 10</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 60</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Manager of small branch <SUP>(2)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>up to 20</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 120</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Manager of average branch <SUP>(3)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>up to 30</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 240</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Manager of large branch <SUP>(4)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>up to 50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 400</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Manager of Bradesco Empresas branch <SUP>(5)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>up to 100</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 400</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=aparajita,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or below R$1,999,999;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or between R$2,000,000 and R$5,999,999;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or between R$6,000,000 and R$14,999,999;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with total deposits equal to or above R$15,000,000; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=3>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(5)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Branch with exclusive middle market companies.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows limits established for approval of loans to corporate customers outside the discretion of our branches:</FONT></P>

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<TR style="HEIGHT: 12pt">

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Risk Amount</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Decision-making authority</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit department </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 16,000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit director </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 18,000</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Executive credit committee (Daily Meeting) </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 60,000</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Executive credit committee (Plenary Meeting) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>up to 2,000,000</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Board of Directors</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>over 2,000,000</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order to serve customers' needs as soon as possible and securely, the Credit Department uses segmented analyses with different methodologies and instruments for credit analysis in each segment, in particular:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the "Varejo," "Prime" and "Private &#8211; Individuals" segments, we consider the individual's reputation and credit worthiness, profession, monthly income, assets (goods and real property, any liabilities or interests in companies), the bank indebtedness and history of their relationship with us, checking loans and advances for repayment dates and rates as well as and the guarantees involved;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>"Varejo &#8211; Corporate Customers"</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>segment, in addition to the points above, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>we focus on the owners of the relevant</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> company</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as considering</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the period in business and the monthly revenues;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the "Corporate" and "Empresas" (middle market) segments, management capability, the company/group's positioning in the market, its size, the economic-financial evolution, cashflow capability, and business perspectives, our analysis always includes the proponent, its parent company/subsidiaries, and the type of business; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>this also includes analyses of social and environmental risk for projects that require customers to show compliance with social and environmental regulations and the Equator Principles, consisting of socioenvironmental criteria required as conditions for loans, which was introduced in 2002 by the International Finance Corporation (IFC), the World Bank's financial arm.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>63</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></B><B><FONT color=windowtext face=calibri,sans-serif></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=windowtext face=Arial,sans-serif>Credit Recovery </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We manage our portfolio of delinquent clients in all of the segments through the collection process beginning on the first day of overdue the payment in accordance with our established rules and governance practices, seeking to preserve the relationship with our client and ensuring maximum efficiency and security for our business</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The collection process occurs through our branch network, internally and through external call centers, and in- and out-of-court collection offices. In addition, we have specialized regional teams in credit recovery that act in a customized manner in certain cases</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our collection strategies also cover the inclusion of our delinquent clients in external credit protection agencies, sending collection letters and channels of digital access, such as SMS, digital URA, Internet Banking, ATM, mobile and social networks, as well as processes of open auctions for portfolio sales. To this end, we adopted the use of statistical models to segment the debtors by levels of risk and the likelihood of payment, seeking a more assertive credit recovery and with the best cost/benefit ratio</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For autonomy in negotiations, individual authority levels are assigned up to a certain amount, considering the risk of the group. In certain cases, they are submitted to the collective authority limits in the Commission or Executive Committee for Collection and Credit Recovery, respecting the governance of the established authority level</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Deposit-taking activities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our principal source of funding is deposits from Brazilian individuals and businesses. As of December 31, 2017, our total deposits were R$265.2 billion, representing 24.0% of our total liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We provide the following types of deposit and registration accounts:</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>checking accounts;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>savings accounts;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>time deposits;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>interbank deposits from financial institutions; and</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>accounts for salary purposes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows total customers' and bank's deposits by type and source, as of the dates indicated: </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="44%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>% of total deposits</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;33,058,324 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;32,521,234 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;23,012,068 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>39.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;103,332,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;97,088,828 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;91,878,765 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;125,617,424 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;103,137,867 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;79,619,267 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deposits from banks</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,030,292 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;898,877 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;807,695 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;2,168,625 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;588,872 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;466,448 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;265,207,362 </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;234,235,678 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;195,784,243 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to the Central Bank </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Circular Letters</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> No. 3,632/13, No. 3,093/02 and No. 3,569/11</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, we must place a percentage of the demand deposits, savings deposits and time deposits we receive from our customers and deposits from leasing companies with the Central Bank as compulsory deposits, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Time deposits:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> we are required to deposit in an account with the Central Bank 34.0% of the average amounts recorded under time deposits and others transactions, deducting R$30.0 million. The amount required is deposited with the Central Bank in cash and we earn remuneration on the amount deposited at the SELIC rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2017, the Central Bank determined: (i) a change of the dates to receive the compulsory deposits; (ii) an increase in the limit of deduction for financial institutions with a Reference Equity (PR) below R$15 billion; and (iii) the cancellation of deductions in the compulsory deposits,which was adopted in 2009, &nbsp;related to the purchase of diversified portfolios, credit transactions, acquisition of financial letters, financing of vehicles and motorcycles, and loans for working capital, among others and the total amount of the </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>64</FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>deductions was replaced by a single value. Deductions will be gradually reduced to 50.0% by the end of 2018, 30.0% by the end of 2019 and 0% from January 2020; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Time deposits are represented by bank deposit certificates &#8211; CDBs and pay either a fixed or a floating rate, which is typically a percentage of the interbank interest rate. The breakdown between CDBs at pre-fixed rates and floating rates varies from time to time, depending on the market's interest rate expectations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif><STRONG>Demand deposits:</STRONG> we are required to deposit a percentage of the average daily balance of demand deposits, collection of receivables, payment of taxes, third party funds in transit and obligations for the provision of payment services, deducting R$200.0 million, pursuant to provisions of Circular No. 3,632/13 as amended by Circular No. 3,888/18. The requirement for compulsory deposit was of 45.0% in 2017 and 40% in January 2018.Currently it is 25.0%, according to Circular No. 3,888/18.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2017, the Central Bank determined: (i) a change of the dates to receive the compulsory deposits; and (ii) the cancellation of deduction in relation to loans for the acquisition and production of certain goods, was replaced by the same amount. Deductions will be gradually reduced to 50.0% by the end of 2018, 30.0% by the end of 2019 and 0% by January 2020.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Savings deposits</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - each week we are required to deposit in an account with the Central Bank an amount equivalent to a percentage of the total average balance of our savings account deposits. The account bears interest annually at &#8220;TR&#8221; plus interest of 6.2% or Reference Rate (&#8220;TR&#8221;) plus 70.0% of the SELIC rate for funding carried out from May 2012, when the SELIC rate is lower than 8.5% </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> The compulsory deposits requirement was 24.5% in 2017 and currently is 20.0%, according to Circular No. 3,890/18. &nbsp;&nbsp;</FONT></P><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>From July 2017, the financing contracted under the Housing Finance System cannot be deducted from the mandatory payments in savings accounts, due to the Central Bank issued Circular No. 3,835/17, which abolished the additional compulsory deposits, cancelling Circular No. 3,655/13.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In February 2013, the Central Bank defined rules for financial cost collection on non-compliance with compulsory deposit, reserve or compulsory assignment requirements. The financial cost charged to institutions that failed to comply with these requirements was adjusted to the SELIC rate plus 4.0% </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>p.a</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, present Central Bank regulations require that we:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>allocate a minimum of 34.0% of cash deposits to providing rural credit; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>allocate 2.0% of demand deposits received to micro credit transactions; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>allocate a minimum of 65.0% of the total amount of deposits in savings accounts to finance residential real estate or housing construction. Amounts that can be used to satisfy this requirement include direct residential housing loans, mortgage notes, charged-off residential real estate or housing construction loans and certain other financings, all as specified in guidance issued by the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other funding sources</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our other funding sources include capital markets, import/export transactions and onlending.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table sets forth the source and amount of our other funding sources as of the dates indicated:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>65</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>As of&nbsp; December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233,467,544 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241,978,931 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222,291,364 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Financial notes</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,570,141 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108,512,908 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71,691,563 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30,769,294 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36,030,587 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42,101,046 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,179,401 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,611,064 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,282,936 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,521,713 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,165,415 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,236,838 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Real estate credit notes</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27,020,911 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26,955,574 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,223,220 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Agribusiness notes</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,973,682 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,116,292 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,642,250 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Euronotes</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 634,549 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,785,654 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,204,942 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Securities issued through securitization of payment orders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2,606,322 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,286,342 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,575,729 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Structured Operations Certificates</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368,485 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445,168 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 512,343 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 468,112,042 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 503,887,935 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 452,762,231 </FONT></B></P></TD></TR></TABLE></DIV>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our capital markets operations act as a source of funding to us through our transactions with financial institutions, mutual funds, fixed income and equity investment funds and foreign investment funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, 2016 and 2015, obligations for repurchase agreements (which consists of financial assets sold subject to repurchase agreements) accounted for 49.9%, 48.0% and 49.1%, respectively of our other funding sources. The majority of these financial assets subject to repurchase agreements are guaranteed by Brazilian government securities. This type of transactions is generally short-term (normally intraday or overnight) and are volatile in terms of volume once directly impacted by market liquidity. We believe that the risks associated with these transactions are low, given the quality of the collateral assets. In addition, repurchase transactions are subject to operating limits of capital based on the equity of the financial institution, adjusted in accordance with Central Bank regulations. A financial institution may only make repurchase transactions at a value of up to 30 times its Capital, a limit we always comply with. The limits on repurchase transactions involve securities issued by Brazilian government authorities and vary according to the type of security involved in the transaction, and the perceived risk of the issuer as established by the Central Bank.&nbsp;</FONT> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We issued financial notes, a product that was introduced to the market at the beginning of 2010, designed to meet demand for long-term financing. Longer repayment terms contribute to the desired lengthening of the repayment schedule for the banking system's liabilities, since average repayment periods have also become longer due to the growing share of housing finance and investments of the total loan portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We conduct onlending transactions where we act as the transfer agent for development agency funds, granting credits to third parties, which are in turn funded by development organizations. BNDES, the International Bank for Reconstruction and Development or IBRD and the Inter-American Development Bank or IDB are the principal providers of these funds. The lending criteria, the decision to lend and the credit risk are our responsibility and subject to certain limitations set by the bodies supplying the funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Data processing</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have available an up-to-date technological environment supported by a Data Center (CTI &#8211; </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Centro de Tecnologia da Informa&#231;&#227;o</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) located in Cidade de Deus, Osasco, SP, with 11,900 sq. m in area, especially built to harbor information technology (IT) infrastructure and contains protections designed to ensure availability of services offered by us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Data is continually replicated in a processing center (secondary site) located at Alphaville, in the city of Barueri - SP, featuring equipment with enough capacity to take over the main system's activities in case of a problem at our Technology Center (CTI). All service channels have telecommunications services that work with either of the two processing centers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We hold annual exercises simulating situations in which our IT center is rendered out of service in order to ensure that we have effective contingency structures, processes and procedures in place. All these exercises are monitored by our business managers. In addition to all backup copies of electronic files stored and maintained at our IT center, second copies are saved and maintained in the Alphaville processing center, where all the activities related to the development of systems application are located. We regularly test the media in force and its disposal process is made in compliance with the environmental regulations. The process of data protection aims to ensure the confidentiality, integrity and availability of information in accordance with its level of criticality.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If the public energy supply is interrupted, both centers have sufficient capacity to operate </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>66</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>independently for 72 hours non-stop. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>After this period, Technology Centers can operate continuously, depending only on the fuel that feeds the generators that supply electric energy. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our infrastructure has systems to prevent against attacks from external connections and the internet, &nbsp;systems for the analysis of fraudulent behaviour, unauthorized access, malicious codes, analysis of network behaviour, protection against invasion (intrusion detector), firewall, antivirus and antispam systems, all to provide protection to our IT environment. We continuously upgrade the security over our software and hardwares, digital certification in WEB servers and the encryption equipment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have a Security Operations Center (SOC) in the area of IT Security that treats and responds to security incidents, monitors the environment (24/7) and develops prevention measures through sources of intelligence information.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our safety tools monitor software, hardware and share information from stations and servers. In addition, we have a system of prevention against loss of Information Data, the DLP (Data Loss Prevention), designed to ensure the protection of company data. Annually, a "Penetration Test" is performed by an independent audit firm and the IT security processes are certified by the ISO 27000 &#8211; Information Security. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our internet systems have a separate infrastructure, enabling different customer segments (individuals, corporate, staff) to use resources independently in order to provide better service, and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>due to the critical nature of such services.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The IT structure is also backed by processes implemented in light of the ITIL (IT Infrastructure Library) and COBIT (Control Objectives for Information and related Technology). It applies recognized practices for IT service management and is ISO 20000 IT Service Management certified.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As to the physical security of the data center, its entrance has a baffle gate and a double contention door that isolates the entrant between the doors. Video cameras monitor the entrance and internal areas of the datacenter, and the access is restricted and authorized through the authentication of passes and vascular biometrics (restricted environments).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Seasonality</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We generally have some seasonality in certain parts of our business. There is certain seasonality in our consumer financing business (including our credit card business, financing of goods and others), with increased levels of credit card transactions and financing of goods at the end of the year and a subsequent decrease of these levels at the beginning of the year. We also have certain seasonality in our collection fees at the beginning of the year, which is when taxes and other fiscal contributions are generally paid in Brazil. In our PGBL and VGBL business, seasonality happens at the end of the year, when the Christmas bonuses and profit sharing are usually paid.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Competition</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We face significant competition in all of our principal areas of operation, since the Brazilian financial and banking services markets are highly competitive and have undergone an intensive consolidation process in the past few years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, state-owned financial institutions held 44.1% of the National Financial System's (&#8220;SFN&#8221;) assets, followed by domestic private financial institutions (taking into consideration financial conglomerates) with a 41.9% share and foreign-controlled financial institutions, with a 14.0% share.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Public-sector financial institutions play an important role in the banking sector in Brazil. Essentially, they operate within the same legal and regulatory framework as private-sector financial institutions, except that certain banking transactions involving public entities must be made exclusively through public-sector financial institutions (including, but not limited to, depositing federal government funds or judicial deposits).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In April 2012, Circular No. 3,590/12 was issued, determining that the following transactions should be analyzed by the Central Bank with respect to their effects on competition, notwithstanding the review related to the stability of the financial system:</FONT></P>

<P style="MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>transfers of ownership control;</FONT></P>

<P style="MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>takeovers;</FONT></P>

<P style="MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>mergers;</FONT></P>

<P style="MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>business transfers; and</FONT></P>

<P style="MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>other means of business concentration.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In August 2012, the CMN set out new requirements and procedures for incorporation, authorization for operations, cancellation of authorization, changes of control, corporate restructurings and conditions for </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>67</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exercising positions in statutory or contractual bodies.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Competition in loans and advances has been increasing in recent years. Our main competitors are Ita&#250; Unibanco, Banco do Brasil and Santander Brasil. As of December 2017, our total market share was 11.0% and, among private banks, it was 24.0%, according to Central Bank.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Credit cards</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The credit card market in Brazil is highly competitive. Our primary competitors are Banco do Brasil, Ita&#250; Unibanco, and Santander Brasil. Management believes that the primary competitive factors in this area are interest rates, annual fees, card distribution network and benefits offered.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Consortia</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2017, according to Central Bank, the consortia market included 156 administrators, divided between the bank, manufacturer and independent administrators.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our main competitors are Porto Seguro and Caixa Econ&#244;mica Federal in the real estate segment; Banco do Brasil and Ita&#250; in the automobile and motorcycle segment; and Randon and Conseg in the trucks/tractors/machines and equipment segment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe one of our competitive differentials is the credibility of the Bradesco brand and our extensive distribution network, with the largest service network in the entire whole of Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Investment Bank</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The investment bank market in Brazil is very competitive, involving the participation of national and international financial institutions. Among the main players are Ita&#250; BBA, BTG Pactual, Santander and other international institutions. Bradesco BBI has nonetheless achieved significant success in this market. For more information on our Investment Bank, see "Item 4.B. Business Overview &#8211; Services related to capital markets and investment banking activities."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Leasing</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In general, our main competitors in the Brazilian leasing market</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are Santander Leasing, Banco IBM, HP Financial Service, Banco Itaucard and Safra Leasing. We currently enjoy certain competitive advantages, as we have a larger service network than any of our private sector competitors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fund management</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>As of December 31, 2017, the fund management industry in Brazil managed funds worth R$4.1 trillion in shareholders&#8217; equity according to ANBIMA&#8217;s investment funds management ranking. BRAM held a portion of R$613.7 billion, representing a growth of 7.8% as compared to the 12 previous months or 14.8% of market share. We are one of the leading institutions as measured by the number of investment fund quotaholders with 3.2 million. Our main competitors are </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>BB DTVM and Ita&#250; Unibanco.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance sector</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As leader of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the Brazilian </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>insurance </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>market</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> with a 25.9% market share&nbsp;according to&nbsp;SUSEP </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>as of December 31, 2017, Grupo Bradesco Seguros faces growing</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> competition from </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>several domestic</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and multinational </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>companies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in all </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>branches of this sector. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our principal competitors are BB Seguridade, Ita&#250; Unibanco Seguros S.A., SulAm&#233;rica Seguros, Porto Seguro, Caixa Seguros and Zurich/Santander, which account for a combined total of approximately 53.1% of all premiums generated in the market, as reported by SUSEP, in December 2017. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In recent years, there has been a change in the insurance sector in Brazil, as foreign companies </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>have begun</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to form associations with national insurers. In this respect, the main competitive factors are price, financial stability, and recognition of the name and services provided by companies. With respect to services, competition primarily involves the ability to serve the branches that market such services, including the level of claims handling automation, and development of long-term relationships with customers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that the penetration of our service network, present in all municipalities in Brazil, gives Grupo Bradesco Seguros a significant competitive edge over most insurance companies, thereby promoting cost savings and marketing synergies.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>68</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Regarding the healthcare sector, although most insurance activities are carried out by companies with nationwide operations, there is also competition from companies that operate locally or regionally.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pension plan sector</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Brazilian government's</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> monetary stabilization</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> policies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> stimulated the pension plan sector and attracted new international players. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With 27.9% of total contributions in the sector (SUSEP), Bradesco Vida e Previd&#234;ncia's main competitive advantages are: the &#8220;Bradesco&#8221; brand, our extensive branch network, our strategy </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our record of being </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the forefront </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> product innovation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our principal competitors are BB Seguridade, Ita&#250; Unibanco Seguros, Caixa Seguros and Zurich/Santander.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Capitalization bonds sector</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to SUSEP, Bradesco Capitaliza&#231;&#227;o holds a 29.1% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>market share in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>capitalization bonds income and 25.9% in terms of technical provisions. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our competitive strengths in this sector include our</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> offering </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>low-cost products with a </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>higher number of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> prize </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>drawings</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, security, financial stability</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and brand recognition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our principal competitors are BB Seguridade, Ita&#250; Unibanco Seguros, Santander, Caixa Seguros, Icatu and Sul Am&#233;rica, which together represent approximately 58.6% of the total capitalization revenue generated in the market, according to information provided by SUSEP in December 2017.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>REGULATION AND SUPERVISION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The basic institutional framework of the Brazilian Financial System was established in 1964 by Law No. 4,595/64, known as the "Banking Reform Law." The Banking Reform Law dealt with monetary, banking and credit policies and institutions, and created the CMN.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Principal financial institutions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, nine financial conglomerates operated in Brazil, consisting of public-sector commercial and multiple-service banks controlled by federal and state governments (including Caixa Econ&#244;mica Federal) and 144 financial conglomerates, consisting of private-sector commercial and multiple-service banks. For Brazilian regulatory purposes, insurance companies, private pension plans and capitalization bonds providers are not considered financial institutions.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Principal regulatory agencies</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN is responsible for overall supervision of monetary, credit, budgetary, fiscal and public debt policies. CMN has the following functions:</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>regulating loans and advances granted by Brazilian financial institutions;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>regulating Brazilian currency issue;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>supervising Brazil's reserves of gold and foreign exchange;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>determining saving, foreign exchange and investment policies in Brazil; and</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>regulating capital markets in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2006, CMN asked the CVM to devise a new Risk-Based Supervision System (&#8220;SBR") through Resolution No. 3,427/06&nbsp;(amended by Resolution No. 3,513/07), and regulated by CVM Resolution No. 757/16, in order to: (i) identify risks to which the market is exposed; (ii) rank these risks in order of severity; (iii) establish mechanisms for mitigating these risks and the losses they might cause; and (iv) control and monitor the occurrence of risk events. Among other effects, this system allows for a fast-track reviewing process for the issuance of securities.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central Bank</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank was created by Law No. 4,595/64 and is the primary executor of the guidelines of the CMN, responsible for ensuring the purchasing power of the national currency, including</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> responsibility for:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>implementing currency and credit policies established by the CMN;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>regulating and supervising public and private sector Brazilian financial institutions;</FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>controlling and monitoring the flow of foreign currency to and from Brazil; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>overseeing the Brazilian financial markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank&#8217;s chairperson is appointed by the president of Brazil for an indefinite term of office, subject to approval by the Brazilian senate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank supervises financial institutions by:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>setting minimum capital requirements, compulsory deposit requirements and operational limits;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>authorizing corporate documents, capital increases, acquisition of interest in new companies and the establishment or transfer of principal places of business or branches (in Brazil or abroad);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>authorizing changes in shareholder control of financial institutions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>requiring the submission of annual and semiannual audited financial statements, quarterly revised financial statements and monthly unaudited financial information; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>requiring full disclosure of loans and advances and foreign exchange transactions, import and export transactions and other directly related economic activities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CVM</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CVM is responsible for regulating the Brazilian securities markets in accordance with securities and capital-market policies established by CMN.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking regulations</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Principal limitations and restrictions on activities of financial institutions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under applicable laws and regulations, a financial institution operating in Brazil:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>may not operate without the prior approval of the Central Bank and in the case of foreign banks, authorization by presidential decree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>may not invest in the equity of any other company beyond regulatory limits;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>may not conduct credit and leasing transactions or provide guarantees of more than 25.0% of their PR to a single person or group;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>may not own real estate, except for its own use; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>according to CMN Resolution No. 4,596/17, cannot perform transactions that may configure the granting of loans or advances for:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>its controllers (individuals or legal entities), pursuant to Article 116 of Brazilian Corporate Law</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as their spouses, partners and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their direct relatives, in the collateral line or affinity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, up to the second degree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>officers, managers, members of the fiscal council, of the audit committee and members of statutory or contractual bodies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as their spouses, partners and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their direct relatives, in the collateral line or by affinity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, up to the second degree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>individuals and their spouses or partners, as well as legal entities with a direct or indirect equity interest with </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>percentage equal to or greater than 10%</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>legal entities: (i) with qualified </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>equity interest</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; (ii) in which capital, directly or indirectly, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>there is qualified equity interest; (iii) in which there is effective operational control or relevance in the deliberations, regardless of equity interest; and (iv) that have an officer or member of the board of directors in common</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="MARGIN: 6pt 0in 0in 70.9pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>CMN Resolution No. 4,596/17 also established the definition of qualified or relevant equity interest for purposes of the grant of loans or advances by financial institutions:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 92.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the entity that holds, directly or indirectly, ten per cent (10%) or more of the capital of the legal entity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>; </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>70</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 92.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>managers or officers and their respective spouses or partners and their direct relatives, in the collateral line or by affinity, up to the second degree, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>of the entity who hold, together or separately</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>directly or indirectly 10% or more of the capital of the legal entity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 92.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>partners or shareholders who hold ten per cent 10% or more of the financial institution's capital with, directly or indirectly, a ten per cent 10% or more of the capital of the legal entity; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 92.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&nbsp;the entity and the legal entity that have a manager or officer in common.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The restrictions with respect to the concentration limit to a single person or group do not apply to interbank deposits entered into by financial institutions subject to consolidation of their financial statements.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Capital adequacy and leverage</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions based in Brazil are subject to capital measurement and standards based on a weighted risk-asset ratio, according to CMN Resolutions No. 4,192/13 and No. 4,193/13. The parameters of this methodology resemble the international framework for minimum capital measurements adopted for the Basel Accord. For further information on Basel III, see &#8220;Item 5.B &#8211; Liquidity and Capital Resources &#8211; Capital Compliance &#8211; Basel III.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to CMN Resolution No. 4,280/13, amended by Resolution No. 4,517/16, financial institutions, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>except for</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> credit cooperatives, must keep consolidated accounting records (for calculating their capital requirements) of their investments in companies whenever they hold, directly or indirectly, individually or together with partners, a controlling interest in the investee companies. If their interest does not result in control of a company, financial institutions may choose to recognize the interest as equity in the earnings of unconsolidated companies instead of consolidating</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> such interests</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under certain conditions and within certain limits, financial institutions may include eligible instruments when determining their capital requirements in order to calculate their operational limits, provided that this instrument complies with the requirements of regulation in force.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since January 2015, financial institutions based in Brazil are required to calculate their capital requirements on a consolidated basis with institutions that are part of their prudential conglomerate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CMN Resolution No. 4,280/13 defines that the following entities located in Brazil or abroad shall be considered in the prudential conglomerate of its direct or indirect controllers: (i) financial institutions and other institutions authorized to operate by the Central Bank; (ii) consortium administrators; (iii) payment institutions; (iv) organizations that acquire credit transactions, including real estate and credit rights; and (v) other legal entities headquartered in Brazil that are solely engaged in holding interests in the entities set out above.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2014, the CMN changed the scope of the rules for the management of credit, market, operational and liquidity risks and capital management in order to apply such rules at the prudential conglomerate level which is now required as the basis for calculation of the capital requirements of financial institutions. The CMN Resolution No. 4,388/14 sets forth that risk management may be carried out by a single unit responsible for the prudential conglomerate and its respective affiliates. This applies only to market risk management and not to any other risk functions. Further, this resolution also updates the application of the relevant thresholds for any calculations subject to foreign exchanges.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Risk Weighting</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Circular No. 3,644/13, amended by Circular No. 3,809/16, the Central Bank consolidated the risk weighting factors applied to different exposures in order to calculate capital requirement through a standardized approach. According to such rule, as amended, the risk weight factors vary from 0.0% to 1,250.0% and should be applied to credit risks, depending on the nature and characteristics of the exposure. Risk-weight factors applicable to different exposures are often changed by the Central Bank. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, there are specific standards of the Central Bank to determine procedures to calculate the portion of risk-weighted assets related to other exposures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2015, the Central Bank changed the procedures for calculating the portion of risk-weight assets, in connection with the calculation of the capital required for the operational risk by way of a standardized approach. Under the present model, this is calculated based on the risk of financial institutions and its direct and indirect controlled entities, based on the gross revenue for the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>past</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> three years. The prudential conglomerate concept, however, does not have a retroactive data base to supply such information. In order to </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>overcome</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> this obstacle, a </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>transitional </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>model </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>for the calculation of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>operational risk was adopted in January 2015.</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The total consolidated exposure of a financial institution in foreign currencies and gold cannot exceed 30.0% of its RC. In addition, if its exposure is greater than 5.0% of its RC, the financial institution must hold additional capital at least equivalent to 100% of its exposure. Since July 2007, the amount internationally offset in opposite exposures (purchases and sales) in Brazil and abroad by institutions of the same conglomerate is required to be added to the respective conglomerate's net consolidated exposure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information on our capital ratios, see &#8220;Item 5.B - Liquidity and Capital Resources&#8211; Capital compliance - Basel III.&#8221; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Compulsory Deposits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank periodically sets compulsory deposit and related requirements for financial institutions based in Brazil. The Central Bank uses reserve requirements as a mechanism to control liquidity in the SFN. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Standards on compulsory deposits and additional reserve requirements are periodically altered by the Central Bank. For a summary of current requirements, see &#8220;Item 4.B. Business Overview &#8211; Deposit Funding.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Asset composition requirements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to the Resolution No. 2,844/01, as amended, financial institutions based in Brazil may not allocate more than 25.0% of their RC to loans and advances (including guarantees) to the same customer (including customer's parent, affiliates and subsidiaries) or to securities from any issuer. They also may not act as underwriters (excluding best efforts underwriting) of securities issued by any one issuer representing more than 25.0% of their RC.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to the Resolution No. 2,283/96, permanent assets (defined as property and equipment other than commercial leasing transactions, unconsolidated investments and deferred assets) of Brazilian financial institutions may not exceed 50.0% of their RC.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>From October 2017, with the enactment of Resolution No. 4,607/17, the following transactions are excluded from the calculation of the limits mentioned above: (i) transactions of credit and leasing of responsibility of the Government; (ii) credits arising from transactions with derivatives of responsibility of the Government; and (iii) installments of credit transactions guaranteed by the government. Under the terms of Resolution No. 4,589/17, the amount of credit transactions with organizations and entities of the public sector is limited to 45% of the RC, according to the regulations in force.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Repurchase transactions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Repurchase transactions are subject to operational capital limits based on the financial institution's equity, as adjusted in accordance with Central Bank regulations. A financial institution may only hold repurchase transactions in an amount up to 30 times its RC. Within that limit, repurchase transactions involving private securities may not exceed five times the amount of the financial institution's Capital. Limits on repurchase transactions involving securities issued by Brazilian governmental authorities vary in accordance with the type of security involved in the transaction and the perceived risk of the issuer as established by the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In September 2016, the Central Bank prohibited the execution, extension or renewal of repurchase transactions with securities issued or accepted from associated institutions, or institutions that are members of the same prudential conglomerate. However, the execution, extension or renewal of repurchase transactions based on securities issued or accepted up until September 29, 2016 will be accepted until December 31, 2017, provided that the following are observed: (i) the maximum term of 12 months; and (ii) the maintenance of the accounting balance related to the total of transactions in an amount equal to or less than 110.0% of the total accounting balance calculated on the base date of August 31, 2016, whereby from May 1, 2017, the amount will be 50.0% of the total accounting balance calculated for the same base date.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Onlending of funds borrowed abroad</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions and leasing companies are permitted to borrow foreign currency-denominated funds in the international markets (through direct loans or the issuance of debt securities) in order to on-lend such funds in Brazil. These onlendings take the form of loans denominated in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> but indexed to the U.S. dollar. The terms of the onlending transaction must reflect the terms of the original transaction. The interest rate charged on the underlying foreign loan must also conform to international market practices. In addition to the original cost of the transaction, the financial institution may charge onlending commission only.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Furthermore, the amount of any loan in foreign currency should be limited to the sum of foreign transactions undertaken by the financial institution to which loan funds are to be directed. Lastly, pursuant to </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>72</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the Central Bank's Circular No. 3,434/09, the total of loans and advances made against these funds must be delivered to the Central Bank as collateral, as a condition for the release of the amount to the financial institution.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign currency position</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Transactions in Brazil involving the sale and purchase of foreign currency may be conducted only by institutions authorized by the Central Bank to operate in the foreign exchange market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Beginning in 1999, the Central Bank adopted a foreign exchange free float system, which gave rise to increased volatility. Since mid-2011 the Brazilian real has depreciated against the U.S. dollar and the Central Bank has intervened in the foreign exchange market to control the foreign rate volatility. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank does not impose limits on long positions in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>foreign exchange operations</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (i.e., in which the aggregate amount of foreign currency purchases exceeds sales) and short positions in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>foreign exchange operations </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(i.e., in which the aggregate amount of foreign currency purchases is less than sales) for banks authorized to operate in the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>foreign exchange market</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Standards that address foreign exchange markets are frequently changed by CMN and the Central Bank.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Registration of cross-border derivatives and hedging transactions and information on derivatives </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2009, the Central Bank issued specific rules that became effective in February 2010, requiring Brazilian financial institutions to register their cross-border derivative transactions with a clearing house regulated by the Central Bank and by the CVM. Specifically, cross-border derivative transactions must (i) be registered within two business days; and (ii) cover details of underlying assets, values, currencies involved, terms, counterparties, means of settlement and parameters used.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2010, registration rules were extended to cover hedging transactions in foreign OTC markets or exchanges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In November 2010, to facilitate management of derivatives-related risk incurred by financial institutions, the CVM stipulated that market participants should create mechanisms in order to share information on derivatives contracts traded or registered in their systems, subject to banking confidentiality rules.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Treatment of loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions are required to classify their loans and advances into nine categories, ranging from AA to H, based on their risk. These credit risk classifications are determined in accordance with Central Bank criteria relating to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the conditions of the debtor and the guarantor, such as their economic and financial situation, level of indebtedness, capacity for generating profits, cash flow, delay in payments, contingencies and credit limits; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the conditions of the transaction, such as its nature and purpose, the type, the level of liquidity, the sufficiency of the collateral and the total amount of the credit.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the case of corporate borrowers, the nine categories that we use are as follows:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rating</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Our Classification</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Concept</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>AA</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Excellent</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>First&#8209;tier large company or group, with a long track record, market leadership and excellent economic and financial concept and positioning.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Very Good</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Large company or group with sound economic and financial position that is active in markets with good prospects and/or potential for expansion.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Good</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Company or group, regardless of size, with good economic and financial positioning.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Acceptable</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Company or group with a satisfactory economic and financial situation but with performance subject to economic variations.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>D</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fair</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Company or group with economic and financial positioning in decline or unsatisfactory accounting information, under risk management.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A loan and advance transaction may be upgraded if it has credit support or downgraded if in default.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>73</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Doubtful loans are classified according to the loss perspective, as per E-H ratings as follows:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rating </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco Classification</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>E</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deficient</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>F</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bad</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>G</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Critical</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>H</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Uncollectible</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A similar nine-category ranking system</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> exists for transactions with individuals. We </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>grade credit based on data including the individual's income, net worth and credit history, as well as other personal data.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For regulatory purposes, financial institutions are required to classify the level of risk of their loan transactions according to Central Bank criteria, taking into consideration both the borrower and guarantors&#8217; characteristics and the nature and value of the transaction, among others, in order to identify potential loan losses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This risk evaluation must be reviewed at least every six months for loans extended to a single customer or economic group whose aggregate loan amount exceeds 5.0% of the financial institution's Capital, and once every 12 months for all loan transactions, with certain exceptions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Past due loans and advances must be reviewed monthly. For this type of loan, regulatory provisions set the following maximum risk classifications:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number of Days Past Due <SUP>(1)</SUP></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maximum Classification</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15 to 30 days </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31 to 60 days </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>61 to 90 days </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>D</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>91 to 120 days </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>E</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>121 to 150 days </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>F</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>151 to 180 days </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>G</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than 180 days </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>H</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> These time periods are doubled in the case of loans with maturities in excess of 36 months.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions are required to determine, whether any loans must be reclassified as a result of these maximum classifications. If so, they must adjust their regulated accounting provisions accordingly.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The regulations specify a minimum provision for each category of loan, which is measured as a percentage of the total amount of the loan and advance transaction, as follows:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Classification of Loan </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Minimum Provision %</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>AA</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>-</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>A</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.5</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>B</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>C</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>D</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>30.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>F</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>G</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>70.0</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp; H<SUP> (1)</SUP></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Financial institutions must write off any loan six months after its initial classification as an H loan.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances of up to R$50,000 may be classified by the method used by the financial institution itself or the arrears criteria, described above. Classifications should be at least level A, according to the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions must make their lending and loan classification policies available to the Central </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>74</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bank and to their independent accountants. They are also required to submit information relating to their loan portfolio to the Central Bank, together with their financial statements. This information must include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>a breakdown of the business activities and nature of borrowers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>maturities of their loans; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>amounts of rescheduled, written-off and recovered loans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank requires authorized financial institutions to compile and submit their loans and advances portfolio data in accordance with several requirements and may allow discrepancies in these statements of up to 5.0% per risk level and 2.5% in the reconciled total.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Exclusivity in loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2011, Central Bank Circular No. 3,522/11 prohibited financial institutions that provide services and loan transactions from entering into agreements, contracts or other arrangements that prevent or restrict the ability of their customers to access loans and advances offered by other institutions, including payroll-deductible loans. The purpose of this rule is to increase competition among credit providers and prevent exclusivity agreements between state-owned banks and government bodies with respect to payroll-deductible loans. While there is some uncertainty as to whether the new rules affect existing contracts, all new contracts are covered by the new regulations, allowing market competition and enabling employees in the public and private sectors to obtain payroll-deductible loans from any authorized financial institution.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Regulation of the debit balance of the credit card bill</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Through CMN Resolution No. 4,549/17, which came into force in April 2017, the Central Bank started regulating the financing of the debit balance of the credit card invoice and other post-paid instruments, not settled in full at maturity. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>According to the new standard, the credit card companies will no longer be able to finance the balance due from customers through the revolving credit for more than a month. Therefore, after the maturity of the bill in the following month, if there is still a debit balance due on the amount that is the object of the revolving credit, this can be financed by a line of credit in installments, to be offered by the financial institution, with better conditions or settled in full by the client.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Overdraft Regulations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>In April 2018, the Self-Regulation Council of the Brazilian Federation of Banks (FEBRABAN), published the Regulatory Standard No. 19/18 (Regulatory Standard on the Conscious Use of Overdraft), which will come into force on July 1, 2018, with new guidelines to promote and stimulate the proper use of overdraft facilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Among the Regulatory Standard No. 19/18 main guidelines, we highlight that: (i) financial institutions which have signed the regulatory standard shall, at any time, provide more advantageous conditions to the consumer to settle his overdraft balance, including the possibility of instalment payments; (ii) if the consumer uses more than 15% of the overdraft limit available during 30 consecutive days, and as long as the value is above two hundred reais, the financial institution shall proactively offer to the consumer alternatives for the settlement of the balance; and (iii) financial institutions shall promote financial guidance related to the overdraft, especially with respect to its use in emergency situations and on a temporary basis.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Clearing System &#8211; (Sistema de Pagamentos Brasileiro, or &#8220;SPB&#8221;)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The SPB was regulated and restructured under legislation enacted in 2001. These regulations are intended to streamline the system by adopting multilateral clearing and boost security and solidity by reducing systemic default risk and financial institutions' credit and liquidity risks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The subsystems in the SPB are responsible for maintaining security mechanisms and rules for controlling risks and contingencies, loss sharing among market participants and direct execution of custody positions of contracts and collateral by participants. In addition, clearing houses and settlement service providers, as important components to the system, set aside a portion of their assets as an additional </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>75</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>guarantee for settlement of transactions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currently, responsibility for settlement of a transaction has been assigned to the clearinghouses or service providers responsible for it. Once a financial transaction has been submitted for clearing and settlement, it generally becomes the obligation of the relevant clearinghouse and/or settlement service provider to clear and settle, and it is no longer subject to the risk of bankruptcy or insolvency on the part of the market participant that submitted it for clearing and settlement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions and other institutions authorized by the Central Bank are also required under the rules to create mechanisms to identify and avoid liquidity risks, in accordance with certain procedures established by the Central Bank. Under these rules, institutions are required to maintain, at least:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>liquidity risk management policies and strategies, which are clearly evidenced and set operational limits and procedures aimed at exposure to liquidity risk at a level required by the Management;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>processes to identify, assess, monitor and control liquidity risk exposure during different time frames, including intraday and comprising at least a daily assessment of transactions with settlement terms below 90 days;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>an assessment, at least annually, of the processes described in the previous item;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>funding policies and strategies that provide for adequate diversification of fund sources and maturity terms;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>liquidity contingency plan, which is updated on a regular basis and sets responsibilities and procedures to face liquidity stress scenarios;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>regular stress tests with short and long-term idiosyncratic and systemic scenarios, whose results should be considered when designing or revising policies, strategies, limits and the liquidity contingency plan; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>liquidity risk assessment as part of the process of approving new products, as well as an assessment of how compatible these products are with existing procedures and controls.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions were positively affected by the restructuring of the SPB. Under the old system, in which transactions were processed at the end of the day, an institution could carry a balance, positive or negative, a situation which is no longer allowed. Payments must now be processed in real time, and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>since March 2013, the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>amounts over R$</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>1,000 are being processed</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by electronic transfers between institutions with immediately available funds. If a transaction is made using checks, an additional bank fee will be charged.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank and CVM have the power to regulate and supervise the SPB.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2013, Law No. 12,865/13 was enacted providing for payment arrangements and payment institutions that are part of SPB. In November 2013, in order to regulate this law: (i) the CMN established guidelines for the regulation, surveillance and supervision of payment institutions and payment arrangements that are part of SPB; and (ii) the Central Bank: (a) defined requirements and procedures to authorize the establishment and operation, cancellation of authorization, control changes, structure of management positions, name and head office location, corporate reorganizations, conditions to hold management positions in payment institutions and authorization for financial institutions to provide payment services; (b) created a regulation to govern, among others, provision of payment services in the ambit of payment arrangements that are part of SPB, and established criteria according to which payment arrangements will not be part of SPB, among others; and (c) established rules on risk management, minimum capital requirements, governance of payment institutions, preservation of value and liquidity of payment account balances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In April 2014, the Central Bank changed the rules regarding any payment institutions and any related arrangements. The main changes were as follows: (i) it determined that the payment institutions shall deposit with the Central Bank the amounts corresponding to the electronic balance of any payment accounts, plus the electronic balance of any amounts being transferred between payment accounts within the same payment institution. To ensure the viability of the Brazilian Payment System (SPB), such deposit should be affected gradually; starting with 20.0% in 2014 and increasing to 100% in 2019; and (ii) it reviewed the definition of arrangements that may be considered an integral part of the SPB. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of September 2015, the Central Bank issued Circular No. 3,765/15 amending Circular No. 3,682/13 and bringing significant changes in the rules applicable to payment agreements that are part of the SPB. The main changes are: (i) centralized compulsory clearing and settlement of credit or debit electronic </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>76</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>orders through a clearing and settlement system authorized by the Central Bank; (ii) new requirements for interchangeably operating arrangements, the introduction of &#8220;home institution&#8221; concept, the change of criteria to maintain closed payment arrangements; and (iii) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the change of terms to decrease minimum operating volumes applicable to payment arrangements that are not part of the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SPB.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In July 2017, the Central Bank issued Circular No. 3,842/17, which amends Circular No. 3,682/13. The main changes are: (i) the obligation to have a centralized clearing and settlement system, regardless of the Central Bank's authorization; and (ii) the new deadlines to comply with the previous requirement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In August 2017, the Central Bank issued Circular No. 3,843/17 establishing October 30, 2017 as the deadline to implement the centralized settlement. In October 2017, the Central Bank issued Circular No. 3,854/17, amending Circular No. 3,682/13 and the most relevant changes were: (i) the amendment of the date defined by Circular No. 3,843/17; (ii) the requirement to perform integrated tests before November 10, 2017 to ensure a secure access to the clearing and settlement system; and (iii) to ensure that the internal processes are suitable to work with the system.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2018, the Central Bank issued Circular No. 3,887/18, which established the following maximum limits for the exchange rate in domestic payment arrangements, purchases and demand deposit account: (i) 0.5% for the average exchange rate, weighted by the value of the transactions calculated on a quarterly basis; and (ii) 0.8% as the maximum value to be applied in any transaction. The maximum limits mentioned by Circular No. 3,887/18 do not apply to exchange rates of transactions not made personally and transactions with corporate cards. It is expected that the reduction of the rate be transmitted from the accrediting company to the commercial establishment and then to the consumer, with the aim of promoting an increase in the competition between cards.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Intervention</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank will intervene in the operations and management of any financial institution not controlled by the Federal Government if the institution:</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>suffers losses due to mismanagement, putting creditors at risk;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>repeatedly violates banking regulations; or</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>is insolvent.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Intervention may also be ordered upon the request of a financial institution's management and may not exceed 12 months. During the intervention period, the institution's liabilities are suspended in relation to overdue obligations, maturity dates for pending obligations contracted prior to intervention, and liabilities for deposits in the institution existing on the date intervention was ordered.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Administrative liquidation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank will liquidate a financial institution if:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the institution's economic or financial situation is at risk, particularly when the institution ceases to meet its obligations as they fall due, or upon the occurrence of an event that could indicate a state of bankruptcy;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>management commits a material violation of banking laws, regulations or rulings;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the institution suffers a loss which subjects its unsecured creditors to severe risk; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>upon revocation of the authorization to operate, the institution does not initiate ordinary liquidation proceedings within 90 days, or, if initiated, the Central Bank determines that the pace of the liquidation may impair the institution's creditors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a consequence of administrative liquidation:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>lawsuits pleading claims on the assets of the institution are suspended;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the institution's obligations are accelerated;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the institution may not comply with any liquidated damage clause contained in unilateral contracts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>interest does not accrue against the institution until its liabilities are paid in full; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the limitation period of the institution's obligations is suspended.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank may end the extrajudicial settlement of a financial institution, in the following cases:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>77</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>full payment of unsecured creditors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>change of the institution's scope to an economic activity that is not part of the SFN;</FONT></P>

<P style="MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>transfer of the institution's control;</FONT></P>

<P style="MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>conversion into ordinary settlement; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>sale/loss of the institution's assets, upon its completion and the distribution of the proceeds among the creditors, even if the debts are not fully paid; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in 56.7pt; TEXT-INDENT: -0.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>absence of liquidity or difficult completion of the institution's remaining assets, as recognized by the Central Bank.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Temporary Special Administration Regime</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Temporary Special Administration Regime, known as "RAET," is a less severe form of Central Bank intervention in financial institutions, which allows institutions to continue to operate normally. RAET may be ordered in the case of an institution that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>repeatedly makes transactions contravening economic or financial policies under federal law;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>faces a shortage of assets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>fails to comply with compulsory deposit rules;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>has reckless or fraudulent management; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>has operations or circumstances requiring an intervention.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Payment of creditors in liquidation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the case of liquidation of a financial institution, employees' wages, indemnities and tax claims have the highest priority among claims against the bankrupt institution. In November 1995, the Central Bank created the </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fundo Garantidor de Cr&#233;ditos - </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>FGC to guarantee the payment of funds deposited with financial institutions in case of intervention, administrative liquidation, bankruptcy, or other state of insolvency. Members of the FGC are financial institutions that accept demand, time and savings deposits as well as savings and loans associations. The FGC is funded principally by mandatory contributions from all financial institutions based in Brazil accepting deposits from customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The FGC is a deposit insurance system that guarantees a certain maximum amount of deposits and certain credit instruments held by a customer against a financial institution (or against member financial institutions of the same financial group). The liability of the participating institutions is limited to the amount of their contributions to the FGC, with the exception that in limited circumstances, if FGC payments are insufficient to cover insured losses, the participating institutions may be asked for extraordinary contributions and advances. The payment of unsecured credit and customer deposits not payable under the FGC is subject to the prior payment of all secured credits and other credits to which specific laws may grant special privileges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2010, the CMN increased the maximum amount of the guarantee provided by the FGC from R$60,000 to R$70,000. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In May 2013, this amount was raised again to R$250,000 and has been kept by the Central Bank at this level since then. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2006, it reduced the ordinary monthly FGC contribution from 0.025% to 0.0125% of the balance held in bank accounts covered by FGC insurance. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In February 2016, the percentage of the contribution on instruments listed in Article 2, paragraphs I to X from Appendix II of Resolution No. 4,222/13 was changed to 0.0125%, even if correspondent credits are unsecured.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to CMN rules, the maximum value of the balance of such deposits is limited (with a maximum aggregate of R$5.0 billion </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by December 2014 or R$3.0 billion as of January 2015</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) to: (i) for the balance of the deposits originally made without fiduciary assignment, the highest of the following amounts: (a) the equivalent of twice the regulatory Tier I capital, calculated yearly on the base date June earning interest monthly at the SELIC rate; (b) the equivalent of twice the regulatory Tier I capital, calculated as of December 2008, earning interest monthly at the SELIC rate as of May</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 2009; and (c) the equivalent of the sum of balances in time deposits plus balances of bills of exchange held in the bank in June 2008, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>earning interest monthly at the SELIC rate as of May 2009; and (ii) for the balance of the deposits made with fiduciary assignment, the following factors over the regulatory Tier I capital, calculated as of December of the previous year, adjusted by the SELIC rate: (i) 1.6 as of June 2013; and (ii) 2.0 as of January 2014. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Furthermore, the limit on taking time deposits with special FGC guarantees without fiduciary assignment has been reduced, in accordance with the following schedule:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>78</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>40.0% from January 1, 2013; </FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>60.0% from January 1, 2014;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>80.0% from January 1, 2015; and </FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>100.0% from January 1, 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In May 2013 Resolution No. 4,222/13 was issued, amending and consolidating the rules addressing the FGC bylaws and regulation. In addition to increasing the maximum amount of the guarantee provided by the FGC to R$250,000, agribusiness notes (&#8220;LCA&#8221;) were included in credits guaranteed by FGC. In August 2013, the Central Bank amended and consolidated the provisions related to the calculation basis and payment of common contributions by the FGC-associated institutions. The rules governing the FGC are changed on a periodic basis. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Internal compliance procedures</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>All financial institutions must have in place internal policies and procedures to control:</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>their activities;</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>their financial, operational and management information systems; and</FONT></P>

<P style="MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>their compliance with all applicable regulations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The board of executive officers of a financial institution is responsible for implementing an effective structure for internal controls by defining responsibilities and control procedures and establishing corresponding goals and procedures at all levels of the institution. The board of executive officers is also responsible for verifying compliance with all internal procedures.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Restrictions on foreign investment</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Constitution permits foreign individuals or companies to invest in the voting shares of financial institutions based in Brazil only if they have specific authorization from the Brazilian government. However, foreign investors without specific authorization may acquire publicly traded non-voting shares of financial institutions based in Brazil or depositary receipts representing non-voting shares offered abroad. Any investment in common shares would depend on government authorization. In January 2012, the Central Bank authorized us to create an ADR program for our common shares in the U.S. market. Foreign interest in our capital stock is currently limited to 30.0%.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Anti-money laundering regulations, banking secrecy and financial transactions linked to terrorism</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian anti-money laundering rules, which the Central Bank consolidated in July 2009 through </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central Bank</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Circular No. 3,461/09, as amended, financial institutions must:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>keep up-to-date records regarding their customers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>maintain internal controls and records;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>record transactions involving Brazilian and foreign currency, securities, metals or any other asset which may be converted into money;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>keep records of transactions that exceed R$10,000 in a calendar month or reveal a pattern of activity that suggests a scheme to avoid identification;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>keep records of all check transactions; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>keep records and inform the Central Bank of any cash deposits or cash withdrawals in amounts above R$50,000.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The financial institution must review transactions or proposals whose characteristics may indicate the existence of a crime and inform the Central Bank of the proposed or executed transaction. Records of transactions involving currency or any asset convertible to money, records of transactions that exceed R$10,000 in a calendar month, and records of check transactions must be kept for at least ten years, unless the bank is notified that a CVM investigation is underway, in which case the ten-year obligation may be extended. Pursuant to Circular No. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>3,461/09, amended by Circulars No. 3,517/10, No. 3,583/12</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>No. 3,654/13, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial institutions must implement control policies and internal procedures. The Circular No. 3,858/17 increased the penalties resulting from non-compliance with the obligations described above.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CVM directed special attention to politically exposed individuals through Instruction No. 463/08 and consolidated in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central Bank</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Circular No. 3</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,461/09,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> which refer to individuals politically exposed who </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>79</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>hold or held prominent public positions in Brazil or abroad during the past five years and their relatives and representatives, heads of state and government, senior politicians and civil servants, judges or high-ranking military officers, and leaders of state controlled enterprises companies or political parties, among others. Central Bank Circular No. 3,654/13 expanded such list to include other members of the Judiciary, Legislative and Executive powers, as well as individuals who held or still hold relevant positions in foreign governments. Financial institutions are required to adopt certain mechanisms in order to: (i) identify the final beneficiaries of each transaction; (ii) identify whether these politically exposed individuals are involved; (iii) monitor financial transactions involving politically exposed individuals; and (iv) pay special attention to people from countries with which Brazil maintains a high number of business and financial transactions, shared borders or ethnic, linguistic or political relations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2008, the Central Bank broadened the reach of its rules for controlling financial transactions related to terrorism, so that operations carried out on behalf of, services provided to, or access to funds, other financial assets or economic resources belonging to or directly or indirectly controlled by, the following individuals or entities were required to be immediately reported to the Central Bank: (i) members of the Al-Qaeda organization, members of the Taliban and other individuals, groups, companies or entities connected with them; (ii) the former government of Iraq or its agencies or companies located outside of Iraq, as well as funds or other financial assets that might have been withdrawn from Iraq or acquired by Saddam Hussein or by other former Iraqi government senior officials or by the closest members of their families, including companies owned by, or directly or indirectly controlled by them or by individuals under their management; and (iii) individuals perpetrating or attempting to perpetrate terrorist actions or who take part in or facilitate such acts, entities owned or directly or indirectly controlled by such individuals, as well as by individuals and entities acting on their behalf or under their command.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>I</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>n July 2012, Law No. 12,683/12 came into force, amending Law No. 9,613/98, and toughened the rules on money laundering offenses. According to the new law, any offense or misdemeanour &#8211; and not only serious offenses, such as drug traffic and terrorism &#8211; may be deemed as a precedent to the money laundering offense. Additionally, the law expands, to a great extent, the list of individuals and companies obliged to report transactions to the Controlling Council of Financial Activities (&#8220;COAF&#8221;), including, among them, companies providing advisory or consulting services to operations in the financial and capital markets, under the penalty of fines of up to R$20 million. In June 2013, the CVM enacted an instruction that conformed regulation of this government agency to Law No. 12,638/12, establishing the obligation to send to the regulatory or inspection agency information regarding the non-existence of suspect financial transactions and other situations that generate the need for communications.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>In October 2014, the CVM issued Instruction No. 553/14 which, among other issues, (i) firmly states that any business relationship may only be initiated or kept after the arrangements related to the registration process and the &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Conhe&#231;a seu Cliente</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&#8221; (Know your Customer) Policy are adhered to; and (ii) requires a statement on the purpose and nature of the business relationship with the institution, making it clear that said statement may be obtained upon the update of registration data of already-existing customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 5pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>In November 2014, the Central Bank changed the procedures related to the Regulation of Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) to be adhered to by the payment institutions. Accordingly, in addition to the AML/CTF procedures already required, payment institutions must also: (i) adopt procedures and controls to confirm information on customer&#8217;s identification, which may, among others, match the information provided by the end users against information available in public or private data bases; and (ii) implement AML/CTF risk management systems to provide for the identification and assessment of such risk, as well as carry out mitigation measures proportionate to the risks identified, particularly for high risk cases. These changes were made to meet international requirements set forth under the scope of the Financial Action Task Force (FATF), which is the body responsible for establishing AML/CTF standards to be adhered to by the countries of the G20, such as Brazil. Although rules applicable to payment institutions were expanded, a more flexible approach was applied to prepaid accounts, as the limit for simplified identification was changed from R$1,500 to R$5,000 and the range of information to be kept for payment accounts opened by individuals was reduced. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Further, in November 2014, SUSEP established the Permanent Committee on Anti-Money Laundering and Counter-Terrorism Financing in the Insurance, Reinsurance, Capitalization and Private Pension Plan Markets (CPLD). The CPLD is a permanent governing body acting to prevent money laundering and curtail the financing of terrorism, both in connection with SUSEP and the insurance, reinsurance, capitalization and private pension plan markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; BACKGROUND: white; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2015, Law No. 13,170/15 was enacted, which deals with the lawsuit for the freezing of assets, values and rights of possession or ownership and all other rights, real or personal, of ownership, directly or indirectly, of individuals or entities subject to this type of sanction by the resolutions of the United </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>80</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; BACKGROUND: white; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Nations Security Council &#8211; CSNU. This standard was issued to establish a faster procedure to block the assets located in Brazil, seeking to prevent the use of the assets in question in the practice of crimes against humanity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; BACKGROUND: white; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; BACKGROUND: white; LINE-HEIGHT: normal" face=arial,sans-serif>This law was regulated by means of Circular No. 3,780/16, which provides the procedures to be adopted by financial institutions and other institutions authorized to operate by the Central Bank to meet that standard, including with respect to communications with the competent authorities in the case of a freezing of assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Anticorruption Law</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In August 2013, Law No. 12,846/13 was enacted to regulate civil and administrative liability of legal entities for performing acts against public management, either domestic or foreign. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Based on this legal provision, legal entities shall be strictly liable, in both the administrative and civil spheres, for the practice of harmful acts in their exclusive or non-exclusive interest or benefit.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This law provides for penalties in amounts ranging from 0.1% to 20.0% of the gross revenues earned in the financial year preceding the financial year in which the administrative proceedings was commenced. In applying such sanctions, the existence of internal mechanisms and procedures for integrity, auditing and encouragement of whistle-blowing as well as effective implementation of codes of ethics and conduct of the legal entity, will be taken into consideration, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Social and environmental responsibility</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that environmental sustainability is directly related to the maintenance of our business and the sustainable development of Brazil. In compliance with CMN Resolution No. 4,327/14, which introduces guidelines for the Social and Environmental Responsibility Policy (&#8220;PRSA&#8221;) by financial institutions, Bradesco has a set of internal rules, as well as a governance structure responsible for ensuring the implementation of such policy. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The PRSA guides our socio environmental actions related to our business and activities, as well as the relationship with stakeholders, helping the management of risks and opportunities. The Sustainability Committee oversees Bradesco's compliance with its normative framework and voluntary commitments and ratifies the improvement plans proposed by the Sustainability Commission. In advance </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Resolution No. 4,327/14, a five-year strategic </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>plan was built under the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>guidelines of our Senior Management</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and all of our areas. Its main purpose is to establish a clear connection between the sustainability actions and the business, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>allowing for the diligent management of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> risks and opportunities. Those initiatives delivered good results and have helped us over the years to integrate market's trends and needs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Climate Change </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the short and long term, climate change will create major impacts on the world's economy. Changes in the environment, such as the extension of periods of drought and the rising of sea levels, along with extreme weather events, such as tornadoes and hurricanes, are expected with greater intensity and frequency.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, governments and markets have adopted policies to achieve an economy with lower levels of greenhouse gas emissions, which include initiatives related to pricing and the commercialization of emissions, as well as fostering energy efficiency and the use of renewable energies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This new scenario of physical changes and transition presents risks and opportunities for the financial sector with direct and indirect repercussions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Direct risks </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We maintain controls and targets to improve our environmental performance, including the use of natural resources and the control of greenhouse gas emissions, in order to minimize negative impacts. Our inventory of emissions is published annually and the direct emissions are compensated. Additionally, we have contingency plans in place with the aim of reducing our exposure and being less impacted in cases of extreme events, which includes those originated by the weather.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Indirect risks </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In our credit management, we have a socio environmental risk analysis that seeks to reduce the socio environmental impacts of the operations we finance. In the financings subject to the Equator Principles, we require that the projects with the goal to issue more than 25 thousand tons of carbon equivalent emissions per year conduct prior studies of feasible alternatives of reduction or compensation and compute the volume of emissions in their operations phase. Our work in the area of investments also considers </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>81</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>environmental, social and governance factors, which also takes in account elements related to climate change. Since 2008, we raise the awareness of our suppliers in relation to risks and opportunities arising from climate change through the CDP Supply Chain Leadership Collaboration (&#8220;SCLC&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco is one of the organizations that supports the Task Force on Climate-Related Financial Disclosures ("TCFD"). The TCFD seeks to disseminate the exposure of companies to financial impacts arising from climate change. The recommendations of the TCFD launched in June 2017 are guiding studies for the development of methodologies and tools to measure potential losses and revenues in the business of the organizations impacted by climate change. Bradesco's 2017 Integrated Report, available at </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>www.bradescori.com.br</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, provides more information on the socioenvironmental management of the company, including additional data related to the TCFD's requirements. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Audit partner rotation requirements </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian regulations, all financial institutions must:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>have the specialist in charge, officer, manager or audit team supervisor periodically replaced without the need to change the independent auditor firm itself. Rotation must take place after five fiscal years at most and replaced professionals may be reintegrated three years later. Terms of responsible specialists, officers, managers or audit team supervisors begin on the day the team begins work on the audit.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Each independent accounting firm must immediately inform the Central Bank of any event that may materially adversely affect the relevant financial institution's status.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For the entities regulated by SUSEP, the applicable standards determine the replacement of the independent auditor and the members responsible for the independent audit, every five fiscal years, whereby the independent accounting firm and the professionals replaced may only be reinstated after three years of their replacing. According to the applicable standards, the first mandatory replacement is expected to take place after the fiscal year ended December 31, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For the entities regulated by ANS, the applicable standards in effect since 2016 determine that the professional responsible for signing the opinion should change at least every five financial years, requiring a minimum interval of three years from its replacement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2002, an amendment to the Brazilian Corporate Law gave the members of our Board of Directors veto rights over the appointment or removal of our independent accounting firm. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For additional information on the auditors of the consolidated financial statements included in this annual report see &#8220;Item 16.C. Principal Accountant Fees and Services.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Auditing requirements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Because we are a financial institution and registered with the local stock exchange, we are required to have our financial statements audited every six months in accordance with BR GAAP, applicable to institutions authorized to operate by the Central Bank. Quarterly financial information filed with the CVM is also subject to review by independent auditors. Additionally, as required by CMN Resolution No. 3,786/09, we are required to publish annual consolidated financial statements prepared in accordance with IFRS, accompanied by the independent auditors&#8217; report.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2003, the CVM enacted regulations requiring audited entities to disclose information relating to their independent accounting firm's non-auditing services provided to the entity whenever such services accounted for more than 5.0% of the amount paid to the external auditors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The independent auditors must also declare to the audited company's management that their provision of these services does not affect the independence and objectivity required for external auditing services.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In May 2004, the CMN enacted new auditing regulations applicable to all financial institutions based in Brazil; which were later revised. Under these regulations, we are required to appoint a member of our &nbsp;Management to be responsible for monitoring and supervising compliance with the accounting and auditing requirements set forth in the legislation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to this regulation, financial institutions having Capital of more than R$1.0 billion, managing third party assets of at least R$1.0 billion or having an aggregate amount of third party deposits of over R$5.0 billion are also required to create an audit committee consisting of independent members. According to the regulation, the number of members, their appointment and removal criteria, their term of office and </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their responsibilities must be specified in the institutions' bylaws. The Audit Committee is responsible for recommending to the Board of Directors which independent accounting firm to engage, reviewing the company's financial statements, including the notes thereto, and the auditors' opinion prior to public release, evaluating the effectiveness of the auditing services provided and internal compliance procedures, assessing management's compliance with the recommendations made by the independent accounting firm, among other matters. Our Bylaws were revised in December 2003 to stipulate the existence of an audit committee. In May 2004, our Board of Directors approved the internal regulations for the Audit Committee and appointed its first members. Our Audit Committee has been fully operational since July 2004. In October 2006, the CMN amended the Resolution No. 3,198/04, changing the minimum requirements to be observed by the financial institutions when electing members for the Audit Committee. In April 2014, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN changed </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>certain</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> rules</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> related to audit committees</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in order to improve the composition and operational of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>such committees. These rules provided</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> that up to one third of its members may exercise another single consecutive term of office, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>granting</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> more independence to the Audit Committees of privately-held institutions. See "Item 16.D. Exemptions from the listing standards for Audit Committees."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since July 2004, we are required to publish a semi-annual audit committee report together with our financial statements. Our Audit Committee's first report was issued together with our financial statements for the second half of 2004.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Regulation of operations in other jurisdictions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have branches and subsidiaries in several other jurisdictions, such as New York, London, Buenos Aires, the Cayman Islands, Hong Kong, Mexico and Luxembourg. The Central Bank supervises Brazilian financial institutions' foreign branches, subsidiaries and corporate properties, and prior approval from the Central Bank is necessary to establish any new branch, subsidiary or representative office or to acquire or increase any interest in any company abroad. In any case, the subsidiaries activities&#8217; should be complementary or related to our own principal activities. In most cases, we have had to obtain governmental approvals from local central banks and monetary authorities in foreign jurisdictions before commencing business. In each jurisdiction in which we operate, we are subject to supervision by local authorities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Asset management regulation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Asset management is regulated by the CMN and the CVM.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In August 2004, the CVM issued </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Instruction </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>No. 409/04, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which became effective in November 2004, and has been amended a number of times since then</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, consolidating all previous regulations</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> applicable to fixed-income asset funds and equity mutual funds. Prior to this ruling, fixed-income asset funds were regulated by the Central Bank, and equity mutual funds were regulated by the CVM.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2014, the CVM enacted Instruction No. 555/14, which replaced Instruction No. 409/04, in order to improve electronic communications, rationalize the volume, content and manner of disclosing information, and to make investment limits less rigid for certain financial assets, particularly foreign financial assets. Additionally, CVM Instruction No. 555/14 addresses the following issues: (i) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the framework for </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>setting up </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>funds without the need for executing</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> an adhesion contract and the checking of the adequacy for investment in the fund to the customer&#8217;s profile in connection with funds investing over 95.0% of its net equity in federal public debt bonds or equivalent risky securities; (ii) barring interest-bearing compensation that would jeopardize the independence of the fund management; (iii) providing more transparency to the distribution policy; (iv) improving performance fee regulation; and (v) providing safer rules for investments in foreign assets. CVM Instruction No. 555/14 became effective in October 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to CVM limits and our Bylaws, our investment funds must keep their assets invested in securities and types of trades available in the financial and capital markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Securities, as well as other financial assets which are an integral part of the investment fund portfolio, should be duly registered in the registration system with a custodian or central depository, authorized by the Central Bank or the CVM to carry out such activities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to the limitations specified in each financial investment fund's bylaws, they may not:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>invest more than 10.0% of their net assets in securities of a single issuer, if that issuer is: (i) a publicly-held institution; or (ii) another investment fund;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>invest more than 20.0% of their net assets in securities issued by the same financial institution authorized to operate by the Central Bank (including the fund administrator);</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>invest more than 5.0% of their net assets if the issuer is an individual or corporate entity that is not a publicly-held company or financial institution authorized to operate by the Central Bank; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>be directly exposed to crypto assets. The CVM recommends avoiding also indirect exposure until the regulator issues a final rule on the matter.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>There are no limits when the issuer is the government. For the purposes of these limits, the same issuer means the parent company, companies directly or indirectly controlled by the parent and its affiliates, or companies under common control with the issuer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the previous regulation (CVM Instruction No. 409/04), the qualified investor funds required a minimum investment of R$1 million per investor and were subject to concentration limitations per issuer or per type of asset as long as this is stated in their bylaws. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the current regulation (CVM Instruction No. 555/14), this privilege is eligible only for funds for professional investors</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, CVM Instruction No. 409/04 stated that funds could hold financial assets traded abroad in their portfolios as follows: (i) for foreign-debt funds and qualified investor funds that stipulated this possibility, there is no limit; (ii) for multimarket funds, up to 20.0% of net assets; and (iii) for other funds, up to 10.0% of net assets. CVM Instruction No. 555/14 changed these limits to: </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(i) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>no limits, for funds classified as &#8220;Fixed Income &#8211; Foreign Debt,&#8221; funds exclusively intended for professional investors that include in their denomination the suffix &#8220;Foreign Investment,&#8221; and certain funds exclusively intended for qualified investors; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(ii) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>up to 40.0% of its net equity for funds exclusively intended for qualified investors that do not follow certain provisions set forth in this Instruction; and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>up to 20.0% of its net equity for general public funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Also in December 2014, the CVM established a new concept for qualified and professional investors. Companies and individuals are to be deemed professional investors if they hold financial investments above R$10.0 million, and are deemed to be qualified investors if they hold financial investments above R$1 million. These definitions became effective in October 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Regulation of brokers and dealers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Broker and dealer firms are part of the SFN and are subject to CMN, Central Bank and CVM regulation and supervision. Brokerage and distribution firms must be authorized by the Central Bank and are the only institutions in Brazil authorized to trade on Brazil's stock exchanges and commodities and futures exchanges. Both brokers and dealers may act as underwriters for public placement of securities and engage in the brokerage of foreign currency in any exchange market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brokers must observe B3 rules of conduct previously approved by the CVM, and must designate an executive officer responsible for observance of these rules.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in 6pt 35.45pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Broker and dealer firms may not:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>with few exceptions, execute transactions that may be characterized as the granting loans to their customers, including the assignment of rights;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>collect commissions from their customers related to transactions of securities during the primary distribution; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>acquire assets, including real estate properties, which are not for their own utilization; with certain exceptions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Broker and dealer firms' employees, managers, partners, controlling and controlled entities may trade securities on their own account only through the broker they are related to.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Regulation of Internet brokerage services</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CVM approved regulations on Internet brokerage activities, which may be carried out only by registered companies. Brokers' web pages must contain details of their systems, fees, security and procedures for executing orders. They must also contain information about how the market functions generally and the risks involved with each type of investment offered.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brokers that carry out transactions over the Internet must guarantee the security and operability of their systems, which must be audited at least twice a year.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Leasing regulation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The basic legal framework governing leasing transactions is established by Law No. 6,099/74, as amended (the "Leasing Law") and related regulations issued periodically by the CMN. The Leasing Law </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>84</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>provides general guidelines for the incorporation of leasing companies and the business activities they may undertake. The CMN, as regulator of the Financial System, is responsible for issuing Leasing Law related regulations and overseeing transactions made by leasing companies. Laws and regulations issued by the Central Bank for financial institutions in general, such as reporting requirements, capital adequacy and leverage regulations asset composition limits and treatment of doubtful loans, are also applicable to leasing companies.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance regulation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian insurance business is regulated by Decree Law No. 73/66, as amended, which created two regulatory agencies, the CNSP and SUSEP. SUSEP is responsible for implementing and overseeing CNSP's policies and ensuring compliance with such policies by insurance companies, insurance brokers and insured individuals. Insurance companies require government approval to operate, as well as specific approval from SUSEP to offer each of their products. Insurance companies may underwrite policies only through qualified brokers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance companies must set aside reserves in accordance with CNSP criteria. Investments covering these reserves must be diversified and meet certain liquidity criteria, rules for which were consolidated by </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CNSP </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Resolution No. 321/15, as amended, solvency and security criteria. Insurance companies may invest a substantial portion of their assets in securities. As a result, insurance companies are major investors in the Brazilian financial markets and are subject to CMN rules and conditions for their investments and coverage of technical reserves.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance companies may not, among other activities:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>act as financial institutions by lending or providing guarantees;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>trade in securities (subject to exceptions); or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>invest outside of Brazil without specific permission from the authorities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance companies must operate within certain retention limits approved by SUSEP pursuant to CNSP rules. These rules reflect the economic and financial situation of insurance companies and the conditions of their portfolios. Insurers must also meet certain capital requirements as provided by SUSEP regulations</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Complementary Law No. 126/07, the ceding party (local insurer or reinsurer) must offer local reinsurers preference when contracting reinsurance or retrocession to the extent of the following percentages of risks ceded: (i) 60.0% in the first three years as of January 2007; and (ii) 40.0% in subsequent years. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Complementary Law also places more severe restrictions on ceding risk to foreign reinsurance companies and contracting of insurance abroad. Insurance companies must reinsure amounts exceeding their retention limits. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since CNSP Resolution No. 168/07 was amended by CNSP Resolution No. 353/17, it does not require the insurance company to hire a minimum number of local reinsurers. However, in accordance with Article 15 of the CNSP Resolution No. 168/07, the insurance company must give preference to local reinsurers in at least 40% of the assignment of reinsurance agreements to each automatic or optional contract. In addition, as per CNSP Resolution No. 168/07 as amendment by CNSP Resolution No. 353/17, there are no more limits on the transference of risks by insurers to companies that belong to its financial conglomerate as long as the operations of reinsurance and retrocession ensure the effective transfer of risk between the parties, and are executed at arms-length.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2013, CNSP issued Resolution No. 302/13 which regulates the minimum capital requirement and to solvency regularization plans for insurance companies, capitalization bond entities, EAPCs, and local reinsurance companies. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main changes in such regulation were the following:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>85</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>c</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>onsolidation of the correction plans and the plans of solvency recovery into a single plan, as the solvency regularization plan (&#8220;PRS&#8221;);</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>establishment of a liquidity minimum ratio (20.0%) over the minimum capital requirement (&#8220;CMR&#8221;), so that the companies can promptly react to unexpected losses incurred by their capital;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>changes to the base capital for EAPCs constituted as business corporations; and </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>exclusion of all references to solvency margin, once all risk portions were already established in the capital requirement rules.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CNSP Resolution No. 302/13 was revoked by CNSP Resolution No. 316/14, which </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>maintained a large part</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>prior rules</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. The main change was the definition of the capital installment amounts applicable to EAPC, which are now applicable to insurance companies. In December 2014, the CNSP issued Resolution No. 317/14, addressing criteria for calculating risk capital based on the market risk of local insurance companies, EAPC, capitalization companies and reinsurance companies. The CNSP Resolutions No. 316/14 and No. 317/14 were revoked by Resolution No. 321/15, which went into effect in August 2015, and began regulating technical provisions, assets which reduce the need for coverage of technical provisions, risk capital based on the underwriting, operating and market credit risks, adjusted net worth, criteria for investments, accounting standards, accounting audit and independent actuarial audit and Audit Committee relating to insurance companies, EAPCs, capitalization companies and reinsurers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance companies are exempt from ordinary financial liquidation procedures in case of bankruptcy, and instead follow the special procedure administered by SUSEP. Financial liquidation may be either voluntary or compulsory.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As was already the case in relation to entities subject to CMN, SUSEP </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>issued</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> rules in December 2008 with specific internal controls for preventing and fighting money laundering crimes. These rules include a series of provisions on notifying proposed transactions with politically exposed individuals and suppression of terrorist financing activities.</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> These rules were amended and consolidated by Circular No. 445/12.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>There is currently no restriction on foreign investment in insurance companies.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Health insurance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Private health insurance and health plans are regulated by Law No. 9,656/98, as amended, which we refer to as the "Health Insurance Law," containing general provisions applicable to health insurance companies and the general terms and conditions of agreements entered into between health insurance companies and their customers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The ANS is responsible for regulating and supervising supplemental health services provided by health insurance companies pursuant to directives set forth by the Supplemental Health Council (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conselho de Sa&#250;de Suplementar</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Until 2002, SUSEP had authority over insurance companies, which were authorized to offer private health plans. Since 2002, pursuant to ANS regulations and supervision, only operators of private health plans may offer such plans. We created Bradesco Sa&#250;de in 1999 to fulfill this requirement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Private pension plans</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Open pension plans are subject, for purposes of inspection and control, to the authority of the CNSP and the SUSEP, which are under the regulatory authority of the Ministry of Finance. The CMN, CVM and Central Bank may also issue regulations pertaining to private pension plans, particularly related to assets guaranteeing technical reserves.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Private pension entities must set aside reserves and technical provisions as collateral for their liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>EAPCs and insurance companies have been allowed to create, trade and operate investment funds with segregated assets since January 2006. Notwithstanding the above, certain provisions of Law No. 11,196/05 will only become effective when SUSEP and CVM issue regulatory texts. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In September 2007, CVM issued Instruction No. 459/07, which addresses the set up, management, operation and disclosure of information on investment funds exclusively related to supplementary pension fund plans. In January 2013, the CMN determined new rules to govern the application of reserves, provisions and funds of insurance companies, capitalization companies and EAPCs. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxes on our main transactions</FONT></I></B></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>86</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxes on financial transactions (&#8220;IOF&#8221;) on loan transactions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>IOF levied on loan</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> transactions has as its taxable event the delivery of the obligation amount or value, or the event of making it available to the interested party. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rate applicable to loan and advances of any type</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, including </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>credit opening is</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 0.0041% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per day </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to legal </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>entity borrowers and since January 2015, 0.0082% to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> individual </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>borrowers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This IOF rate will be charged on principal available to borrowers</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> regarding the loans and advances</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, but for cases in which the amount of principal is not predetermined, in addition to the IOF levied on principal, there will be additional IOF at the same rate </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>levied</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> on interest and other charges, so that the calculation base will comprise the sum of daily outstanding debt balances calculated on the last day of each month.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since January 2008, besides IOF on the transactions mentioned above,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> loans and advances have been subject to IOF additional rate of 0.38% irrespective of the repayment period or whether the borrower is an individual or a legal entity. For legal entities, IOF </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>rate </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>calculation base is not the sum of outstanding debt balances, IOF shall not exceed </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>1.8765% and for individuals, it will not exceed a 3.373% rate, which corresponds to </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the result of applying the daily rate to each amount of principal stipulated for the transaction, multiplied by 365 days, plus an additional rate of 0.38% even if the loan is to be repaid by installment</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>IOF on loan transactions is levied on transactions between individuals and legal entities domiciled in Brazil, as well as on transactions whose creditor resides in Brazil, even if the debtor is located abroad. However, the IOF is not levied on loan transactions where the lender is located abroad and the borrower is in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>IOF on insurance transactions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>IOF levied on insurance transactions </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>has as its taxable event the receipt of premium. Applicable rates are as follows</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>0.0% on: (i) reinsurance transactions; (ii) transactions related to mandatory insurance, linked to residential housing loans granted by an agent of the national housing</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif> </FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>system (SFH); (iii) insurance transactions for export credits and international merchandise transportation; (iv) aeronautical insurance and civil liability of airlines; (v) premiums intended to finance life insurance plans with survival coverage; and (vi) guarantee insurance;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>0.38% of premiums paid, in the case of life insurance and similar policies, for personal or workplace accidents, including mandatory insurance for personal injuries caused by vehicles or ships or cargo to persons transported or others;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>2.38% private health insurance business; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>7.38% for all other insurance transactions.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Income and social contribution taxes on income</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federal taxes on company income include two components, income tax known as "IRPJ" and tax on net profits, known as "Social Contribution" or "CSLL." Income tax charges are calculated based on a rate of 15.0% plus a surcharge of 10.0% on taxable income exceeding R$240 thousand per year. Considering the above, the IRPJ is assessed at a combined rate of 25.0% of adjusted net income. Social contribution tax payable by financial institutions is calculated based on a rate of 20.0% from September 2015 through December 2018, and a rate of 15.0% as from January 2019. For further information on our income tax expense, see Note 17 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Due to taxation on universal bases, c</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ompanies based in Brazil are taxed based on their global income rather than income produced exclusively in Brazil. As a result, profits, capital gains and other income obtained abroad by Brazilian entities are computed in the determination of their taxable profits on an annual basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>With respect to affiliates, by the general rule of Law No. 12,973/14, affiliates abroad will have their dividends (and not the corporate profit) taxed at the time of effective distribution, nevertheless, with two exceptions: (i) cases in which they are domiciled in a tax haven; or (ii) that adopt a sub-taxation scheme, or in which they are treated as subsidiary. With regard to the rules applicable to the subsidiaries, the new discipline introduced by Law No. 12,973/14 foresees that the legal entities in Brazil with a stake in a subsidiary abroad must: (i) record in sub accounts the investment account, in proportion to the stake held, the share of the adjustment of the investment value equivalent to corporate profits (those calculated before local income tax), earned by the subsidiaries, directly and indirectly, in Brazil or abroad, concerning the calendar year in which they were calculated in the balance sheet; and (ii) compute these values in their </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>87</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>calculation of actual income and from the calculation base of the Social Contribution.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In June 2010, legislation in Brazil introduced thin capitalization rules, and limited deduction for interest paid or credited by a company based in Brazil to: (i) an addressee domiciled abroad, whether or not holding equity interest in the company paying; and (ii) an addressee resident, domiciled or incorporated in a tax haven or locality with a low or privileged tax regime.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In cases where the creditor is a related party domiciled abroad and holds an equity interest in the company based in Brazil making a payment, debt may not exceed the equivalent to twice such shareholders' interest in the total equity of the company based in Brazil. In case of a related party with no shareholding interest, the limit will be equivalent to twice the total equity of the company resident in Brazil. If there is more than one creditor, total debt owed foreign companies may not exceed the equivalent of twice the total value of the interests of all the related parties in the equity of the company resident in Brazil. If the creditor is domiciled in a low tax jurisdiction the debt amount may not exceed 30.0% of the equity of the company based in Brazil. Any amounts exceeding the limits above such limit may not be deducted for purposes of withholding income and social contributions taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Also beginning in June 2010, tax deductions for any payment to a beneficiary resident or domiciled in a country considered a tax haven became subject to the following requirements in addition to others already stipulated in the legislation: (i) identification of the actual beneficiary of the person domiciled abroad; (ii) proof of the ability of the person located abroad to complete the transaction; and (iii) documented proof of payment of the respective price and of receipt of the assets, rights, or utilization of service.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In November 2010, the Brazilian tax authorities issued a normative instruction altering the tax treatment applicable to variation in the monetary value of taxpayers' credit rights and obligations due to varying exchange rates. Under this new instrument, as of the 2011 calendar year, the election of tax regime for taxation of exchange-rate variations may only be exercised in January of each calendar year and may only be altered during the fiscal year if there is "material variation in the exchange rate," as published by a Finance Ministry Directive. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>PIS and Cofins</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Two federal taxes are imposed on the gross revenues of corporate entities: PIS and Cofins. Nonetheless, many revenues, such as: dividends, equity earnings from unconsolidated companies, revenues from the sale of non-current assets (investments, fixed assets and intangible assets</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and, as a general rule, export revenues paid in foreign currency are not included in the calculation base for PIS and Cofins. Revenues earned by corporations domiciled in Brazil are subject to PIS and Cofins taxes corresponding to interest on equity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian legislation authorizes certain adjustments to the calculation base of those taxes depending on the business segment and on other aspects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Between 2002 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(PIS) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2003 (</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cofins</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>),</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the government implemented a non-cumulative collection system of PIS and Cofins taxes, allowing taxpayers to deduct from their calculation basis credits originating from certain transactions. In order to offset these credits, the rates of both PIS and Cofins were substantially increased. Subsequent to the changes made to PIS and Cofins, as of May 2004, both taxes are applicable on imports of goods and services when the taxpayer is the importing company domiciled in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since August 2004, the PIS and Cofins rates due on financial revenues were of 0.0%, including those arising from operations carried out for purposes of hedge, earned by legal entities subject to the system of non-accrual of these contributions. In April 2015, Decree No. 8,426/15 establishes that from July 2015, the rates shall be reestablished to 0.65% and 4.0%, respectively, including with respect to the revenue arising from hedge operations. However, even before the production of the effects of Decree No. 8,426/15, the normative was changed with the promulgation of Decree No. 8,451/15, which reassured the maintenance of the zero rate for contributions to PIS and Cofins, specifically in relation to financial revenues arising from: (i) monetary variation, depending on the exchange rate, of export operations of goods and services, as well as obligations incurred by the legal entity, including loans and financing; and (ii) of hedge operations carried out on the stock exchange, of commodities and of futures, or in the organized OTC market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Certain economic activities are expressly excluded from the procedures of the non-accrual collection of the PIS and Cofins. This is the case of financial institutions, which shall remain subject to PIS and Cofins by the "accrued" procedures, which does not permit the discount of any credits, as provided by Article 10, paragraph I, of Law No. 10,833/03. In spite of this impossibility of accrual of credits, the legislation in force enables the exclusion of certain expenditure in the calculation by such entities of the bases of calculation of the PIS and Cofins (as is the case, for example, of the expenses incurred by the banks in financial mediation operations and expenditure on severance payments corresponding to accidents occurring in the case of </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 347.3pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>88</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>private insurance companies). In such cases, the income received by the financial institutions is subject to Contribution to the PIS and Cofins at the rates of 0.65% and 4.0%, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In July 2010, the Brazilian tax authorities introduced digital tax records for PIS and Cofins taxes. Under the new rule, financial and similar institutions must keep digital records for PIS and Cofins taxes relating to taxable events occurring as of January 2012.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign Account Tax Compliance Act</FONT></I></B><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(FATCA)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Compliance</FONT></I></B><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> with the </FONT></B><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Foreign Account Tax Compliance Act</FONT></I></B><B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (FATCA) and Common Reporting Standard (CRS) (Tax Compliance Laws for Foreign Accounts)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Organization observes the laws and regulations applicable to its business, whether at national or international level. In this sense, it complies with the FATCA and CRS provisions, which aim to enhance the transparency of fiscal information and to fight against tax evasion, practices of money laundering and the financing of terrorism, through the establishment of Compliance rules that require financial institutions to provide registration and financial data of people with fiscal residence in other participating countries.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>FATCA is an American law that defines procedures and obligations applicable to foreign entities in order to identify financial resources of North American taxpayers (US Person) located abroad and to establish Compliance rules that require financial institutions to provide registration and financial data on these people. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Decree Law No. 8,506/15, signed and ratified the agreement between the Government of the Federative Republic of Brazil and the Government of the United States of America for the improvement of international tax compliance and implementation of the FATCA. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The CRS is the derivative instrument of the Convention on Mutual Assistance in Tax Matters, OECD and of the Multilateral Competent Authority Agreement, with goals aligned to the guidelines of the FATCA.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Federal Revenue (&#8220;RFB&#8221;) Normative Instruction No. 1,680/16, features on the identification of financial accounts in accordance with the CRS and regulates the procedures for identification, diligence and reporting to be made by financial institutions and entities subject to the norm. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The financial institutions and entities subject should address this information to the RFB, through e-Financeira, following the obligations of Normative Instruction No. 1,571/16.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Centralized Registration and Deposit of Financial Assets and Securities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In August 2017, the Brazilian Congress converted MP No. 775/17, issued by the President of Brazil in April 2017, into the Law No. 13,476/17. The new law consolidates the provisions on creation of liens over financial assets and securities. On the same day, the CMN issued Resolution No. 4,593/17 to regulate the provisions set by Law 13,476/17 and consolidate the regulation on centralized deposits and registry of financial assets and securities issued or owned by financial institutions and other institutions authorized to operate by the Central Bank. The CMN has established a deadline of 180 days for this rule to become effective. Resolution No. 4,593/17 presents a clearer definition of financial assets which includes, in addition to traditional financial instruments such as certificates and bank deposit receipts, credit securities subject to discount and credit card receivables. In addition, the rule establishes that the record of financial assets and securities is applicable to bilateral operations (meaning operations directly with clients), with some exemptions in certain situations; and the centralized deposit is applicable to credit securities with payment obligations and securities issued by financial institutions or other institutions authorized to operate by the Central Bank as a condition for engaging in certain negotiations and in assumption of custody. The Central Bank will issue regulations governing the implementation of such rules, including the creation of an electronic system for constitution of liens and encumbrances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Selected Statistical Information</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Selected statistical data shown in this section as of and for the years ended December 31, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2017, 2016 and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 2015 is derived from our audited consolidated financial statements prepared in accordance with IFRS, included elsewhere in this annual report, except for average balances, whose calculation methods are shown below. The data for the years ended December 31, 2014 and 2013, is derived from our audited consolidated financial statements prepared in accordance with IFRS which are not included herein.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have included the following information for analytical purposes. You should read this information (for the years ended December 31, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2017, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016 and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2015</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) in conjunction with "Item 5. Operating and Financial Review and Prospects" and our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>89</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Average balance sheet and interest rate data</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables present the average balances of our interest-earning assets and liabilities, other&nbsp;assets and liabilities accounts, related interest income and expenses, and the average real yield/rate for each period. We calculate the average balances using the end-of-month account balances, which include related accrued interest. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Interest-earning and non-interest earning assets</FONT></I></B></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest-earning assets </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>209,289,723 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,684,574 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 180,250,789 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,576,526 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 108,737,397 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,982,927 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>113,911,212 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,351,320 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 122,649,627 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,572,618 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 95,434,117 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,629,493 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,836,244 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,883,103 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,834,019 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,514,933 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.6%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,732,694 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,253,616 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>193,203,196 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 21,268,934 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 150,544,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 21,739,202 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 148,107,052 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,270,191 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>57,277,934 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,073,435 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 67,961,405 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,689,348 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.8%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 63,314,643 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,349,194 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>363,674,189 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 65,021,090 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 373,112,857 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 69,874,022 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 337,673,348 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 62,916,514 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Central Bank compulsory deposits</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 58,875,557 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,881,319 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 55,847,576 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,667,516 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,933,707 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,587,412 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other interest-earning assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 871,012 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 68,553 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 722,571 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 66,210 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 640,098 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 58,905 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest-earning assets </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,038,939,067 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 126,232,328 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 992,923,479 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 147,700,375 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.9%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 830,573,056 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 127,048,252 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-interest-earning assets </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14,561,569 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,121,670 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,896,943 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Central Bank compulsory deposits</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,668,761 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,967,948 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,881,039 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale (shares)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,426,747 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,528,712 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,664,733 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-performing loans and advances to customers <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,059,794 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 21,033,366 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,960,817 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(34,631,652)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(24,802,018)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(24,716,311)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,509,425 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,416,824 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,318,847 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Property and equipment, net of accumulated depreciation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,660,382 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,722,918 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,763,516 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,369,482 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,569,568 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,848,705 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Current and deferred income tax</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>57,857,166 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 56,987,580 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;46,630,519 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest-earning assets </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>70,823,130 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 73,931,728 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,087,514 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-interest-earning assets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>175,304,804 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 187,478,296 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 127,336,322 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total assets</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,214,243,871 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 126,232,328 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.4%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,180,401,775 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 147,700,375 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.5%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 957,909,378 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 127,048,252 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.3%</FONT></B></P></TD></TR>

<TR>

   <TD width="100%" colSpan=10><FONT style="FONT-SIZE: 8pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></FONT>

   <P style="TEXT-ALIGN: left; MARGIN: 3pt 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt"><FONT face=arial,sans-serif><SUP>(1)</SUP> Overdue by more than 60 days.</FONT></FONT><FONT style="LINE-HEIGHT: normal" face=arial,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter90"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 581.2pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>90</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_91"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader91"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" face=arial,sans-serif>Interest-bearing and non-interest-bearing liabilities</FONT></I></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="27%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="73%" colSpan=9>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="25%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest-bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,397,862 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 152,550 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 127,617 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 621,904 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 74,814 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 96,511,751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,730,457 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,712,509 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 91,075,494 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,450,258 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 122,959,605 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,536,161 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 111,471,035 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,746,203 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 83,978,162 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,942,386 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 238,407,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 22,564,515 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 232,718,923 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,767,039 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 211,686,661 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,509,785 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 58,617,611 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,068,552 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 65,927,057 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,865,411 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 64,029,996 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,092,184 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 138,281,213 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,262,613 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 151,629,726 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,124,502 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 97,739,942 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,570,606 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,065,114 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,100,017 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,348,349 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,298,555 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,601,843 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,669,830 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 226,765,103 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,174,550 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 198,174,725 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 21,395,550 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 156,922,463 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,102,347 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest-bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 935,005,956 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 75,589,415 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.1%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 907,074,035 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 91,037,386 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 744,656,465 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 71,412,210 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-interest-bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,014,556 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,645,961 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,969,963 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest-bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 138,586,108 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 143,993,002 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 99,995,194 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-interest-bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 169,600,664 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 176,638,963 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 126,965,157 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,104,606,620 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 75,589,415 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,083,712,998 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 91,037,386 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 871,621,622 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 71,412,210 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=arial,sans-serif>Equity attributable to controlling shareholders</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 109,139,400 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 96,263,256 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 85,887,584 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-controlling interest </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 497,851 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 425,521 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 400,172 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total liabilities and equity </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,214,243,871 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 75,589,415 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.2%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,180,401,775 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 91,037,386 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.7%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 957,909,378 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 71,412,210 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.5%</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>91</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></DIV></DIV></DIV>

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&nbsp; <A name="page_92"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in interest and similar income and expenses &#8211; volume and rate analysis</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the effects of changes in our interest income and expense arising from changes in average volumes and average yield/rates for the periods presented. We calculated the changes in volume and interest rate based on the analysis of average balances during the period and changes in average interest rates on interest-earning assets and interest-bearing liabilities. We allocated the net change from the combined effects of volume and rate proportionately to the average volume and rate, in absolute terms, without considering positive and negative effects:</FONT></P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="34%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017/2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Increase/(decrease) due to changes in</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average<BR>volume</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average<BR>yield/rate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net change</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average<BR>volume</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average<BR>yield/rate</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net change</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest&#8209;earning assets</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,335,431 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13,227,383)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9,891,952)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,349,835 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243,764 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,593,599 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(850,398)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 629,100 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (221,298)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,898,616 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,955,491)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (56,875)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,632,176)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,631,830)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,421,564 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (160,247)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,261,317 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,363,861 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5,834,129)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (470,268)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337,840 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,131,171 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,469,011 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,223,911)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,392,002)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3,615,913)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 599,583 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (259,429)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340,154 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,738,916)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3,114,016)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4,852,932)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,635,310 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322,198 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,957,508 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Central Bank compulsory deposits</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294,432 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,080,629)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (786,197)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,212,325 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132,221)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,080,104 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other interest&#8209;earning assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,464 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10,121)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,343 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,558 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,305 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest&#8209;earning assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,193,309 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26,661,356)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21,468,047)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,462,631 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,810,508)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,652,123 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest&#8209;bearing liabilities</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,896 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,037 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24,933 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62,733 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9,930)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,803 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203,401 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,185,453)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (982,052)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180,254 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81,997 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262,251 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 838,253 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,048,295)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,210,042)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,104,319 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 699,498 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,803,817 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Obligations for repurchase agreements </FONT></FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640,261 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4,842,785)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4,202,524)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,397,114 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 860,140 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,257,254 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (405,211)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (391,648)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (796,859)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,999 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679,228 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 773,227 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,423,745)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,438,144)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3,861,889)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,108,709 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (554,813)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,553,896 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33,900)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,164,638)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,198,538)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,654,115 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25,390)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,628,725 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,801,238 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6,022,238)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3,221,000)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,417,198 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876,005 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,293,203 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest&#8209;bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,641,193 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18,089,164)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15,447,971)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17,018,441 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,606,735 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19,625,176 </FONT></B></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net interest margin and spread</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the average balance of our interest-earning assets, interest-bearing liabilities, and net interest and similar income, and compares net interest margin with net interest spread for the periods indicated:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance of interest&#8209;earning assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,038,939,067 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>992,923,479 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>830,573,056 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance of interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>935,005,956 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>907,074,035 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>744,656,465 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income <SUP>(1)</SUP> </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 50,642,913 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 56,662,989 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 55,636,042 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate on the average balance of interest&#8209;earning assets </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate on the average balance of interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net yield on interest&#8209;earning assets <SUP>(2)</SUP> </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.1%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.9%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.7%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest margin <SUP>(3)</SUP> </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.9%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.7%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.7%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Total interest income less total interest expenses;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Difference between the yield on the rates of the average interest earning assets and the rate of the average interest bearing liabilities; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Net interest income divided by average interest earning assets.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Return on equity and assets</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows selected financial indices for the periods indicated:</FONT></P>

<a name="_bclFooter92"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 354.4pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>92</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_93"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader93"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except % and per share information</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income&nbsp; attributable to&nbsp; controlling shareholders in IFRS</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,089,364 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 17,894,249 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,132,906 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Accounting pratices diferences ( IFRS X BR GAAP)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,431,609)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,810,671)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (943,271)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income in BR GAAP </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,657,755 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 15,083,578 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 17,189,635 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average total assets </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,214,243,871 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,180,401,775 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>957,909,378 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average equity attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>109,139,400 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 96,263,256 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 85,887,584 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income&nbsp; attributable to controlling shareholders as a percentage of average total assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income&nbsp; attributable to controlling shareholders as a percentage of average equity attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Dividends payout ratio to net income <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>44.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Dividends and Interest on Equity (net of taxes) divided by net income, discounting legal reserves, according to BR GAAP.</FONT></P></TD></TR></TABLE></DIV></DIV></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial assets held for trading, available for sale, investments held to maturity and financial assets pledged as collateral</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as of the dates indicated, the breakdown of our financial assets held for trading, available for sale at fair value and our investments held to maturity at amortized cost. For more information on the treatment of our financial assets held for trading, available for sale</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and investments held to maturity </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>see</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Notes 20, 21 and 22 to our consolidated financial statements included in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>"</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Item 18. Financial Statements</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>":</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 202,249,272 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 161,103,399 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 93,833,116 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bank debt securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,348,269 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,600,127 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 15,322,751 </FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 13,866,885 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 16,755,442 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,870,917 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate debt and marketable equity securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,339,790 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,383,682 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,674,357 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,377,508 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,303,781 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 21,711,385 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 307 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,358,025 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,426,416 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 528,010 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 635,390 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 784,507 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>241,710,041 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 213,139,846 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 159,623,449 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Financial assets held for trading as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 103,281,758 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 59,198,028 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 66,215,852 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate debt&nbsp; securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 39,978,630 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 42,142,708 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 35,761,813 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Marketable equity securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 11,037,807 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,817,561 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,323,746 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bank debt securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,183,853 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,559,043 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,643,044 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 728,127 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 401,214 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,791 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,202,547 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,746,204 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>159,412,722 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 113,118,554 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 117,695,450 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 26,738,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 30,241,947 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 27,405,022 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate debt&nbsp; securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,259,564 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,739,187 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,557,446 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,614 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 20,894 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 41,092 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total investments held to maturity</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>39,006,118 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 43,002,028 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 40,003,560 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity&nbsp; as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.6%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.9%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>93 Bradesco</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT></FONT><FONT></FONT></P></DIV>

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&nbsp; <A name="page_94"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader94"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our financial assets pledged as collateral as of the dates indicated. For additional information about our financial assets pledged as collateral, see Note 23 to our consolidated financial statements included in "Item 18. Financial Statements":</FONT></P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 801,182 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,282,141 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 291,498 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total of financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>801,182 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,282,141 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 291,498 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>53,039,884 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,530,423 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28,866,615 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Corporate debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 825,287 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,899,878 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,488,929 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Bank debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,904,070 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,742,273 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,817,967 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 713,555 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 102,841 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total of financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>59,482,796 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>64,275,415 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>33,173,511 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 431 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total of investments held to maturity</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 431 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Investments held to maturity as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank investments</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 123,691,195 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>84,728,590 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 111,024,912 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total of loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>84,728,590 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 111,024,912 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks as a percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>183,975,173 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 155,286,577 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 144,489,921 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral as a % of total assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.1%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter94"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 354.4pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>94</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_95"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader95"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="3%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="97%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="3%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="97%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Maturity distribution</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows maturity dates and weighted average yield as of December 31, 2017, for our financial assets held for trading, financial assets available for sale and investments held to maturity:</FONT></P>

<DIV align=left>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="72%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due in 1 year or less</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 1 year up to 5&nbsp;years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 5 years up to 10 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 10 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>No stated maturity</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average yield</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,764,054 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>140,761,502 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 51,509,560 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,214,156 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>202,249,272 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate debt and marketable equity securities <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,477,123 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,952,808 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,682,605 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>182,558 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,044,695 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,339,789 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,985,811 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,352,297 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,162 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,348,270 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Mutual funds <SUP>(2)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,377,508 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,377,508 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivative financial instruments </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,187,430 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>105,519 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>571,182 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,754 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,866,885 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>172,770 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>355,240 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>528,010 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>214 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>93 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>307 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,587,188 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>146,527,366 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 53,763,561 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,409,723 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,422,203 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>241,710,041 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 24,844,455 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 55,932,632 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,727,447 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,777,224 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,281,758 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>718.00 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>447,526 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 279,883.00 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>728,127 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,105,720 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,492,752 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,128,969 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,251,189 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 39,978,630 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,627 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>943,176 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>227,050 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,183,853 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Marketable equity securities <SUP>(2)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,037,807 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,037,807 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,202,547 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,202,547 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total financial assets available for sale </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,167,067 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 83,816,086 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,363,349 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,028,413 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,037,807 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>159,412,722 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,332 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,312,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>63,422 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,342,416 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,738,939 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian sovereign bonds </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,614 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,614 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Floating rate &#8211; bills of exchange </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,466 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,972,171 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,870,444 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,415,484 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,259,565 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total investments held to maturity&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,412 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,284,940 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,933,866 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,757,900 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 39,006,118 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overall Total </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 62,783,667 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>240,628,392 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 72,060,776 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 46,196,036 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,460,010 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>440,128,881 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR></TABLE></DIV></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 8.15pt">

   <TD style="HEIGHT: 8.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> For no stated maturity, it mainly corresponds to marketable equity securities; and</FONT></P></TD></TR>

<TR style="HEIGHT: 8.15pt">

   <TD style="HEIGHT: 8.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="100%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Investments in these assets are redeemable at any time in accordance with our liquidity needs. Average yield is not stated, as future yields are not quantifiable. </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>95</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT>

<P></P>

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&nbsp; <A name="page_96"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader96"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="96%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="96%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="4%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows maturity dates and weighted average yield as of December 31, 2017, for our financial assets pledged as collateral:</FONT></P>

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<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="20%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="80%" colSpan=10>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 1 year or less</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due after 1 year to 5&nbsp;years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due after 5 years to 10 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due after 10 years</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average yield</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Balance</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average yield</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,258 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>485,214 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>304,644 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,066 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>801,182 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total of financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,258 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>485,214 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>304,644 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,066 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>801,182 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,596,002 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37,343,117 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>87,945 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,820 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>53,039,884 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27,959 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>95,455 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>701,874 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>825,288 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>358,250 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>355,304 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>713,554 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,127,402 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,683,381 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,093,287 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,904,070 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total of financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16,751,363 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>40,480,203 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,238,410 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,820 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>59,482,796 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interbank investments</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total of loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><FONT style="FONT-SIZE: 8pt"></FONT><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#ffffff face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Overall Total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>140,443,816 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>40,965,417 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,543,054 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,886 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>183,975,173 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></B></P></TD></TR></TABLE></DIV>

<P></P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 68pt; TEXT-INDENT: -34pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 609.55pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>96</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial assets held for trading, financial assets available for sale and investments held to maturity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by currency as of the dates indicated:</FONT></P>

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<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="60%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At fair value</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 240,442,057 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 154,379,847 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,998,504 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 433,820,408 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,267,984 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,032,875 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,614 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,308,473 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>December&nbsp;31, 2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 210,043,774 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 110,274,881 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 42,981,134 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 363,299,789 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,096,072 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,843,673 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,894 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,960,639 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>December&nbsp;31, 2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 155,144,937 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 110,208,119 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 39,962,468 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 305,315,524 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,478,512 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,487,331 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,092 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,006,935 </FONT></P></TD></TR></TABLE></DIV></DIV></DIV>

<P style="MARGIN: 0in 0in 10pt"><SUP><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Predominantly U.S. dollars.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our financial assets pledged as collateral by currency as of the dates indicated:</FONT></P>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="25%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="75%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At fair value</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets&nbsp; available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments&nbsp; held to maturity</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>801,182 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>53,039,884 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>123,691,195 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>177,532,261 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap align=left>

   <P style="MARGIN: 0in 0in 0pt 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,442,912 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,442,912 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 11pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,282,141 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,530,423 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>84,728,590 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 431 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>146,541,585 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 11pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1) </SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,744,992 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,744,992 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 11pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>reais</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>291,498 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28,866,614 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>111,024,912 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>140,183,024 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt 11pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Denominated in foreign currency <SUP>(1) </SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,306,897 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,306,897 </FONT></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 10pt"><SUP><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Predominantly U.S. dollars.</FONT></P><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to customers</FONT></I></B></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables summarize our outstanding loans and advances to customers by category of transaction. Substantially all of our loans and advances to customers are to borrowers domiciled in Brazil and are denominated in reais. The majority of our loans and advances are denominated in reais and indexed to fixed or floating interest rates. A smaller portion of them are denominated in, or indexed to, the U.S. dollar and subject to interest rates:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>97</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader98"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="41%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="59%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,700,584 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 60,390,890 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 65,501,431 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 62,155,974 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 59,180,627 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 60,570,146 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 56,255,740 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49,681,429 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 45,807,489 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,922,683 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,655,666 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 35,816,560 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,158,108 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 42,168,754 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 40,543,267 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 24,741,298 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,699,948 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,484,476 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,354,903 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,209,642 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 59,963,375 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 60,458,038 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 48,114,515 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 40,103,169 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 27,870,462 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,272,982 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,983,307 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,180,619 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,141,531 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,662,214 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,568,984 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,407,733 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,943,428 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 28,072,447 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,473,079 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,642,478 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,422,799 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,710,274 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,057,992 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,651,917 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,587,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,583,285 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,831,248 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,500,353 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,422,370 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,318,042 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,140,346 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,026,017 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,195,381 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,598,811 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,249,859 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,738,611 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,072,777 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,319,148 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,713,481 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,301,472 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,517,932 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,757,182 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,257,787 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,717,227 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,582,020 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,209,637 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,904,890 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,665,539 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,312,666 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,659,520 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,459,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,957,274 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,396,213 </FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,701,122 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif>Total portfolio</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,813,665 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>392,083,873 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>370,323,669 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>349,196,680 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>323,979,568 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Impairment of loans and advances</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(27,055,566)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(24,780,839)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(25,455,204)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(21,132,677)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>(19,858,234)</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>346,758,099 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>367,303,034 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>344,868,465 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>328,064,003 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>304,121,334 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Including payroll-dedcutible loans.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main types of loans and advances presented are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>working capital</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> &#8211; this line of credit is used to meet company cash requirements, finance operational cycle and honor commitments such as purchases of raw materials, goods, and other items;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>personal credit</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> &#8211; this credit is for individuals, with the objective of financing personal needs or the purchase of consumer goods;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>BNDES/FINAME onlendings</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> &#8211; BNDES financing programs are intended for financing the implementation, expansion and modernization of production activities and infrastructure. FINAME operations consist of financing of machinery and equipment manufactured in Brazil;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>vehicle financing &#8211; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>this is a direct consumer credit (CDC) line linked with financing of new and used vehicles;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>housing loans</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> &#8211; these loans are used to acquire real estate that are usually long-term and mortgage loans to construction companies; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>export financing </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>these are</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>advances on exchange contracts to customers exporting goods or services, individuals and companies, exporting through exchange contracts that are normally short- and medium-term loans, onlending of funds from BNDES-EXIM, export credit notes and bonds, pre-payment for export and operations structured by our units abroad;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>credit card </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211; this credit line is based on previously approved limits for acquisition of goods or services;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>rural credit </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>this line of credit is for farmers and agricultural cooperatives, funds to cover current costs, investment and marketing of agricultural products;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>guaranteed account </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>this is a revolving credit line to be used by companies to meet their emergency financial needs;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>import financing </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>this is a foreign currency financing/refinancing line intended for paying for the acquisition of goods and services made abroad;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>leasing </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>&#8211; leasing contracts consist primarily of leases of equipment and automobiles to both corporate and individual borrowers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>insurance premium receivable </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; refers to the sum to be paid by the insured to the insurer to assume the risk to which the insured person is exposed; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>overdraft limit </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; pre-approved credit limit, available in the checking account, to be &nbsp;used when the client needs to make payments or transfers has no available balance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of loans and advances</FONT></I></B></P>

<a name="_bclFooter98"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 354.4pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>98</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2017</FONT></FONT></P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of loans and advances represent our estimates of incurred losses in our portfolio of loans and advances. The assessment of this estimate is based on frequent revisions of individual loans and loans collectively assessed for impairment. For further information on </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the methodology of calculating the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impairment of loans and advances, see Note 3.1 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Charge-offs on loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are charged-off against the impairment when the loan is considered uncollectible or is considered permanently impaired. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are charged off usually when they are between 180 and 360 days overdue. However, longer-term l</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>oans and advances</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, that have original terms greater than 36 months, are charged off when they are between 360 and 540 days overdue.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We generally classify overdue loans as non-performing loans before charging them off. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of loans and advances related to any loans remains on our books until the loan is charged-off</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information on our categorization of loans, see "Regulation and Supervision &#8211; Bank regulations &#8211; Treatment of loans and advances."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Indexation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The majority of our portfolio of loans and advances is denominated in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. However, a portion of our portfolio of loans and advances is indexed or denominated in foreign currencies, predominantly the U.S. dollar. Our loans and advances indexed to and denominated in foreign currency consist primarily of onlending of Eurobonds and export and import financing, and represented 8.1% in 2017, 10.3% in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016 and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>13.6% in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2015</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of our portfolio of loans and advances. In many cases, our customers hold derivative instruments to minimize exchange rate variation risk.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>99</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT></FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 7.1pt; TEXT-INDENT: -10.15pt" align=right><B><FONT><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>4.B. Business Overview</FONT></B></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Maturities and interest rates of loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show the distribution of maturities of our l</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>oans and advances</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> to customers</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by type, as well as the composition of our l</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>oans and advances</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to customers&#8217;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> portfolio by interest rate and maturity, as of the dates indicated:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31, 2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due within 30 days or less</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 31 to 90 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 91 to 180 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 181 to 360 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 1 to 3&nbsp;years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due after 3&nbsp;years</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>No stated maturity<SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total loans and advances, gross</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment of loans and advances </FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,152,599 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,920,572 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,337,619 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,677,640 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,050,124 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 22,552,897 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,009,133 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,700,584 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,750,590)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 48,949,994 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,778,349 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,440,702 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,478,403 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,000,890 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 10,426,881 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,916,782 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,528,139 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 60,570,146 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,577,191)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;56,992,955 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 951,008 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 745,214 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 748,741 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,133,952 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,275,011 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,713,048 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 88,692 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,655,666 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(533,707)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 30,121,959 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,449,408 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,339,798 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,177,678 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,324,947 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,379,922 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,103,128 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 966,417 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 24,741,298 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (1,452,944)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,288,354 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 879,004 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 834,601 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 673,911 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,656,908 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,866,597 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,948,967 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,103,387 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 59,963,375 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (1,778,502)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 58,184,873 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,081,676 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,102,616 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,894,204 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,947,846 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,877,376 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;18,963,719 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 405,545 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 38,272,982 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (1,214,104)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,058,878 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,568,984 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 37,568,984 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,244,280)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,324,704 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 432,525 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 770,263 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 518,708 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,014,761 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,989,825 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,650,030 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 266,366 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,642,478 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(513,691)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,128,787 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,702,334 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,926,444 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,611,321 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 957,737 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 162,488 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,877 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 223,038 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,587,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(201,448)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,385,791 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 927,465 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 819,812 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 591,090 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,634,402 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 771,705 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 559,096 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 14,472 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,318,042 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(47,833)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,270,209 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 176,811 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 119,579 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 104,723 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 287,334 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 429,826 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,072,286 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 59,300 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,249,859 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(131,893)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,117,966 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,275,166 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 26,306 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,301,472 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(384,644)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,916,828 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,065,148 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 758,731 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 402,416 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 157,809 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 254,641 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,773 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 911,502 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,582,020 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(564,782)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,017,238 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9,879,091 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,789,618 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,729,761 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,020,774 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,626,384 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,050,513 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,563,379 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,659,520 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (7,659,957)</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,999,563 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,750,584 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,567,950 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,268,575 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 36,815,000 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,110,780 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 163,592,422 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 54,708,354 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 373,813,665 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(27,055,566)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 346,758,099 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=11 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Primarily composed of non-performing loans and advances to customers over 60 days, excluding credit cards operations.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="80%" colSpan=8>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due within 30 days or less</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 31 to 90 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 91 to 180 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 181 to 360 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due in 1 to 3 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due after 3 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>No stated maturity</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total loans, gross</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Types of interest rates of loans and advances to customer by maturity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Fixed rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 28,114,418 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,154,613 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,684,985 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 27,219,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 36,869,807 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 89,307,225 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 53,812,477 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>264,162,764 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 8pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Floating rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,636,166 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,413,337 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,583,590 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,595,761 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,240,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 74,285,197 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>895,877 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>109,650,901 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,750,584 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,567,950 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 15,268,575 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 36,815,000 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,110,780 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>163,592,422 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 54,708,354 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,813,665 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 68pt; TEXT-INDENT: -34pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter100"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>100</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> Form 20-F &#8211; December 2016</FONT></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_101"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader101"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U></U></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.B. Business Overview</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Outstanding foreign loans</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The majority of our outstanding cross-border commercial loans that are denominated in foreign currencies are</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>raised in U.S. dollars by subsidiaries of Brazilian companies through our Cayman branch. These loans represented, on average, 3.4% of our total assets over the last three years (this percentage is calculated as the average of the year-end balances for the last three years of loans and advances to customers, divided by the average of the last three years of the total assets). We believe that there are no significant cross-border risks on these transactions, since a substantial part of the related credit risk is guaranteed by the parent company in Brazil. The remainder of our outstanding cross-border transactions mainly includes investments in securities, which represented, on average, 1.8% of our total assets over the last three years (this percentage is calculated as the average of the year-end balances for the last three years of outstanding cross-border transactions, divided by the average of the last three years of the total assets).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to customers</FONT></I></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by economic activity</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table summarizes our </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>loans and advances to customers</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by borrowers' economic activity, as of the dates indicated:</FONT></P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31, </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances portfolio</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of loans and advances portfolio</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances portfolio</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of loans and advances portfolio</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances portfolio</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of loans and advances portfolio</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Public sector</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,676,927 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.6%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,813,581 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,250,375 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.8%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Petrol, derived and aggregated activities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,410,382 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,813,581 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 6,956,808 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Electricity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,322 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>609 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other sectors</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>265,223 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,292,958 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Private sector</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 364,136,738 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 383,270,292 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97.8%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 360,073,293 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 190,148,345 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50.9%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 212,344,421 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>54.2%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 212,213,504 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>57.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Real estate activities and construction</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>29,383,442 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 33,888,418 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 32,472,376 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retail</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 23,935,638 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,346,471 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,660,190 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Services</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 17,996,533 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,172,147 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,719,563 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Transportation and concession</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 14,190,284 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 17,044,780 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,324,581 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Automotive</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,014,454 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 13,148,526 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,004,305 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Food</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,866,028 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,870,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,898,203 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,045,916 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,704,646 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,576,376 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Electricity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,360,804 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,255,265 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,696,201 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Steel and metallurgy</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,001,290 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,800,237 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,668,680 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sugar and alcohol</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,042,811 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,514,693 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,792,773 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other sectors</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 55,311,145 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 59,598,603 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 71,400,256 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Individuals</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 173,988,393 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46.5%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 170,925,871 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43.6%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 147,859,789 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>39.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total portfolio</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 373,813,665 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 392,083,873 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 370,323,668 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(27,055,566)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7.2)%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(24,780,839)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6.3)%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(25,455,204)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6.9)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total net of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>346,758,099 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>92.8%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 367,303,034 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>93.7%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 344,868,464 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>93.1%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Non-performing loans and advances and impairment of loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table summarizes our non-performing loans and advances (loans and advances overdue for over 60 days), as well as those neither due nor impaired, foreclosed assets, and certain asset quality </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>indicators</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> for the dates shown</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. We use some of these indicators for monitoring purposes and to support decision-making when granting loans and advances. For further information regarding the performance of some of these ratios, see Item &#8220;5.A. Operating Results":</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-performing loans and advances to customers, over 60 days</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,783,181 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 23,373,999 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 18,288,316 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,779,382 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,650,513 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreclosed assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,520,973 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,578,966 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,247,106 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,006,461 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>832,546 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-performing loans and advances to customers and foreclosed assets </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22,304,154 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 24,952,965 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 19,535,422 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15,785,843 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,483,059 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>373,813,665 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 392,083,873 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 370,323,668 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>349,196,681 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>323,979,568 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27,055,566 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21,132,677 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19,858,234 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-performing loans and advances as a percentage of total loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.2%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-performing loans and advances and foreclosed assets as a percentage of&nbsp;total loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances as a percentage of total loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances as a percentage of non-performing loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>130.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>106.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>139.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>143.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>145.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment of loans and advances as a percentage of non-performing loans and advances to customers and foreclosed assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>121.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>99.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>130.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>133.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>137.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net charge-offs for the period as a percentage of the average balance of loans and advances to customers (including non-performing loans and advances) </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.1%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter101"></a><DIV><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>101</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;<FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>Bradesco</FONT></FONT></FONT></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left>&nbsp;</P>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>

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&nbsp; <A name="page_102"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader102"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><U><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>4.B. Business Overview</FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></U></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif><U></U></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the impairment of our loans and advances by type for the periods indicated</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="44%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at the beginning of the period</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 21,132,677 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 19,858,234 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 19,914,294 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Charge-off from assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,170,932)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,171,768)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,143,675)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,507,974)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,447,051)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (465,169)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (619,139)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (382,409)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (272,469)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (232,101)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,619,915)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,493,626)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,855,512)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,633,867)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,447,057)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,953,025)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,979,265)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,471,292)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,410,131)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,626,581)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (276,113)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (121,744)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (256,309)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (35,501)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (58,366)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (121,844)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (180,191)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (172,419)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (252,447)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (381,582)</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (418,558)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (215,987)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (186,184)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (154,943)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (94,700)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (259,170)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (174,167)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (92,887)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (60,724)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (69,683)</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (403,987)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (460,516)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (281,858)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (250,973)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (252,838)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (79,058)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (310,948)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (327,775)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (45,435)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6,910)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,483,415)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,414,061)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (883,620)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (692,735)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (676,805)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(9,369,779)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10,390,738)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,489,564)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,624,258)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7,026,270)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total charge-off from assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(21,620,965)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(21,532,150)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,543,504)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(12,941,457)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13,319,944)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Recoveries</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,059,299 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>753,566 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>546,963 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>308,980 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>294,657 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>249,578 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>222,901 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>124,143 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>101,297 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>69,533 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>747,811 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>569,391 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>547,700 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>519,378 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>492,383 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>409,119 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>340,405 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>238,747 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>504,319 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>370,184 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,074,567 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>623,261 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>30,822 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,972 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,139 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>64,202 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>95,960 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>82,692 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>95,361 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>83,813 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>286,345 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>151,977 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,634 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>736 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>720 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>114,815 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,502 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,953 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>35,380 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>42,177 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>95,567 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>59,991 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>71,281 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46,621 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,268 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>47,254 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>119,381 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32,640 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,120 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,500 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>251,508 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>190,330 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,001 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>164,864 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>162,306 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,634,792 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,314,842 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,263,303 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,131,486 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,079,334 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total recoveries </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,034,857 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,507,507 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,144,879 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,924,514 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,640,014 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net charge&#8211;offs</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,586,108)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(16,024,643)</FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10,398,625)</FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(9,016,943)</FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(9,679,930)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net impairment losses on loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16,860,835 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 15,350,278 </FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 14,721,152 </FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,291,386 </FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,623,870 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at the end of the period</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27,055,566 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 24,780,839 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,455,204 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 21,132,677 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 19,858,234 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net charge&#8209;offs for the period as a percentage of the average balance of loans and advances to customers (including non-performing loans and advances, over 60 days) </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=6 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Primarily composed of non-performing loans and advances to customers over 60 days, excluding credit cards operations.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Based on information available regarding our borrowers, we believe the impairment of loans and advances recognized is sufficient to cover incurred losses on our loans and advances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Allocated impairment of loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables set forth allocated impairment of our loans and advances for the periods indicated. The allocated loss amount and the loans and advances category are stated as a percentage of total loans and advances:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>102</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.B. Business Overview</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances as a percentage of total loans and advances to customers </FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan and advances category as a percentage of total loans and advances <SUP>(1)</SUP></FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,750,590 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.1%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 533,707 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.7%</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,452,944 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.7%</FONT></P></TD></TR>

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   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,577,191 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.5%</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,244,280 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,214,104 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 131,893 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,778,502 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.5%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 513,691 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 201,448 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 47,833 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 564,782 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 384,644 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,659,957 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.0%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 27,055,566 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif><SUP><FONT style="FONT-SIZE: 8pt">(1) </FONT></SUP><FONT style="FONT-SIZE: 8pt">net of impairment of loans and advances.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="37%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances as a percentage of total loans and advances to customers<SUP> </SUP></FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan and advances category as a percentage of total loans and advances <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,828,062 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 481,655 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,575,102 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,292,568 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,738,899 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 675,791 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 140,801 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 839,003 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 451,160 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 296,443 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 196,166 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 471,521 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 398,771 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,394,897 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.3%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.7%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif><SUP><FONT style="FONT-SIZE: 8pt">(1) </FONT></SUP><FONT style="FONT-SIZE: 8pt">net of impairment of loans and advances.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>103</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



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&nbsp; <A name="page_104"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader104"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.B. Business Overview</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="37%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2015</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances as a percentage of total loans and advances to customers </FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan and advances category as a percentage of total loans and advances <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,922,477 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 555,715 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,839,711 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,941,571 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,005,048 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 642,533 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 152,028 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 864,111 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 544,530 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 297,873 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 164,967 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 578,631 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 277,173 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,668,836 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.2%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif><SUP><FONT style="FONT-SIZE: 8pt">(1) </FONT></SUP><FONT style="FONT-SIZE: 8pt">net of impairment of loans and advances.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="37%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2014</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances as a percentage of total loans and advances to customers </FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan and advances category as a percentage of total loans and advances <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,512,775 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,070,517 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,892,497 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.6%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,877,236 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,405,529 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 616,625 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.2%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 294,371 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,047,221 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 427,932 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 241,252 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 45,570 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 493,240 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 200,768 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,007,144 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.8%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 21,132,677 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif><SUP><FONT style="FONT-SIZE: 8pt">(1) </FONT></SUP><FONT style="FONT-SIZE: 8pt">net of impairment of loans and advances.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter104"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>104</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_105"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader105"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.B. Business Overview</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="37%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2013</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Allocated impairment of loans and advances as a percentage of total loans and advances to customers </FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan and advances category as a percentage of total loans and advances <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Type of loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,018,116 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>BNDES/Finame onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 862,551 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Vehicle financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,298,898 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,893,310 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Credit cards </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,072,543 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Export financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 453,652 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 463,771 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 796,768 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rural loans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 314,732 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Guaranteed account</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 224,615 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Import financing</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 39,942 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Overdraft facilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 416,282 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance premiums receivable</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 218,945 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,784,109 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.9%</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 19,858,234 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif><SUP><FONT style="FONT-SIZE: 8pt">(1) </FONT></SUP><FONT style="FONT-SIZE: 8pt">net of impairment of loans and advances.</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Loans and advances to banks</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables summarize our outstanding loans and advances to banks by type, and changes in impairment on loans and advances for the periods shown:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="55%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks outstanding by type of operation</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Repurchase agreements</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Own portfolio position</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Financial treasury bills</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,517,178 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28,000,310 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>199,996 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; National treasury bills</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,447,381 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,211,900 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,637,051 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; National treasury notes</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,485,142 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>42,584,901 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,058,798 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Debentures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>271,279 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>362,215 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Others</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37,476 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,461 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,293 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Short position</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Brazilian government securities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,558,414 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,103,295 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>370,759 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subtotal </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21,045,591 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>85,178,146 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,633,112 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,336,988 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,387,769 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,017,666 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,278,744 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,341,124 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,149,301 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Bank deposit certificates</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>544,160 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>454,104 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>833,909 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Credit acquisition with co-obligation</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,047,722 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,484,391 </FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,037,739 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; Impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5,481)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (7,398)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (51,317)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Total of loans and advances to banks, net of impairment </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,247,724 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>94,838,136 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,620,410 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="55%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December, 31</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Change in impairment of loans and advances</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,398 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>51,317 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>44,265 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Additions/Reductions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (1,917)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (43,919)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,052 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Balance at the end of the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,481 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,398 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>51,317 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Average deposit balances and interest rates</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the average balances of deposits as well as the average interest rate paid on deposits for the periods indicated:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>105</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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&nbsp; <A name="page_106"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader106"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.B. Business Overview</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="68%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deposits</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8211;interest&#8211;bearing deposits</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 31,014,556 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 32,645,961 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 26,969,963 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-interest-bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,014,556 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 32,645,961 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 26,969,963 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest&#8211;bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,397,862 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 621,904 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 96,511,751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 91,075,494 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 122,959,605 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 111,471,035 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 83,978,162 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest&#8211;bearing deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 220,869,218 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 206,275,255 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 175,675,560 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 251,883,774 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 238,921,216 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 202,645,523 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Maturity of deposits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the distribution of our deposits by maturity at the date indicated:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="37%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=5 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due in 3&nbsp;months or&nbsp;less</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 3&nbsp;months to 6&nbsp;months</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 6&nbsp;months to 1&nbsp;year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Due after 1&nbsp;year</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Domestic deposits</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8211;interest&#8211;bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits<SUP> (1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,422,680 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,422,680 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-interest-bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,422,680 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,422,680 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest&#8211;bearing deposits </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>281,898 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>183,683 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,232,372 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,107 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,741,060 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits<SUP> (1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>103,332,697 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>103,332,697 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,837,888 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,752,971 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,777,143 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97,316,853 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>115,684,855 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest&#8211;bearing deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>108,452,483 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,936,654 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,009,515 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97,359,960 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>220,758,612 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total domestic deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>139,875,163 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,936,654 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,009,515 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97,359,960 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>252,181,292 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=white face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>International deposits<SUP> (2)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8211;interest&#8211;bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,665,936 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,665,936 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total non-interest-bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,665,936 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,665,936 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest&#8211;bearing deposits</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>427,565 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>427,565 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,775,569 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,881 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>754,490 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>233,629 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,932,569 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest&#8211;bearing deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,203,134 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,881 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>754,490 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>233,629 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,360,134 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total international deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,869,070 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,881 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>754,490 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>233,629 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,026,070 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>*</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#d9d9d9 face=arial,sans-serif>&nbsp;* </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total deposits</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>151,744,233 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,105,535 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,764,005 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>97,593,589 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>265,207,362 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=6 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Demand deposits and savings deposits are classified as due in up to three months, without taking into account the average turnaround history; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=6 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Denominated in currencies other than </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>, primarily U.S. dollars.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows maturity of our outstanding time deposits with balances of over US$100,000 (or its equivalent), by maturity, as of the date indicated:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="62%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="38%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Domestic currency</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>International currency</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maturity within 3 months </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,029,684 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,680,028 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maturity after 3 months but within 6 months </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,251,683 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,881 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maturity after 6 months but within 12 months </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4,813,657 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>738,693 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maturity after 12 months </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 37,332,970 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>233,629 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total deposits in excess of US$100,000</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>47,427,994 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,821,231 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Obligations for repurchase agreements</FONT></I></B></FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 40px"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table summarizes our obligations for repurchase agreements for the periods indicated:</FONT></FONT></P>

<a name="_bclFooter106"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>106</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_107"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader107"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>4.C. Organizational Structure</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>&nbsp;</DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="55%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Obligations for repurchase agreements</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Amount outstanding </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>233,467,544 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>241,978,931 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>222,291,364 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Maximum amount outstanding during the period </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>301,397,114 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>246,668,210 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>238,178,168 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Weighted average interest rate at period end <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average amount during the period </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>238,407,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>232,718,923 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>211,686,661 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Weighted average interest rate during the period</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.1%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> We calculated the average balances using the end-of-month account balances, including related accrued interest.</FONT></P></TD></TR></TABLE></DIV>

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<P></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><A name="Toc479577594"></A>4.C. Organizational Structure</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc415063373"></A><A name="_Toc292442697"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are a publicly-held company controlled by Cidade de Deus Participa&#231;&#245;es, a holding company owned by the Aguiar Family, Funda&#231;&#227;o Bradesco and another holding company, Nova Cidade de Deus Participa&#231;&#245;es S.A., or "Nova Cidade de Deus." </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Nova Cidade de Deus is owned by Funda&#231;&#227;o Bradesco and by BBD Participa&#231;&#245;es. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information about</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our shareholding structure</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, see "Item 7.A. Major Shareholders." For further information </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>about our </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>significant subsidiaries as of December 31, 2017, see Exhibit 8.1 to this annual report.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577595"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>4.D. Property, Plants and Equipment</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc415063374"></A><A name="_Toc292442698"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we owned 905 properties and leased 3,835 properties throughout Brazil and 10 properties abroad, all of which we used for the operation of our network of branches and our business. We own the buildings where our headquarters are located in Cidade de Deus, Osasco, S&#227;o Paulo metropolitan region, State of S&#227;o Paulo. Rental agreements have an average duration of five years.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577596"></A><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 4.A. UNRESOLVED STAFF COMMENTS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>None.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577597"></A><A name="_Toc415063375"></A><A name="_Toc292442699"></A><A name="_Toc479001470"></A><A name="_Toc501635782"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 5. </FONT></B><B><FONT lang=EN-GB style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>OPERATING AND FINANCIAL REVIEW AND PROSPECTS </FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577598"></A><A name="_Toc415063376"></A><A name="_Toc292442700"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.A. Operating Results</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This discussion should be read in conjunction with our audited consolidated financial statements, the notes thereto and other financial information included elsewhere in this annual report.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Overview</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our results of operations are affected by, among others, the following factors:</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Economic Conditions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our results of operations are directly affected by economic conditions in Brazil. Such economic conditions directly impact our customers&#8217; ability to pay their financial obligations on time, which affects our impairment of loans and advances and our balance of outstanding loans and advances. In addition, the impact of economic conditions on exchange rates affects our net interest income, since part of our financial assets and liabilities are denominated in or indexed to foreign currencies, primarily U.S. dollars.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2015, GDP recorded a retraction of 3.8% compared to the previous year. The </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciated to R$3.9048 against the U.S. dollar on December 31, 2015, compared with R$2.6562 against the U.S. dollar on December 31, 2014. The COPOM increased the basic interest rate from 11.75% on December 31, 2014 to 14.25% on December 31, 2015. The inflation, measured by the IPCA, was 10.7% for the year ended December 31, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2016, GDP retracted by 3.6% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>compared to the previous year. The </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> appreciated to R$3.2591 against </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the U.S. dollar on December 31, 2016</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, compared with R$3.9048 per U.S. dollar on December 31, 2015. The COPOM decreased the basic interest rate from 14.25% on December 31, 2015 to 13.75% on December 31, 2016. The inflation, measured by the IPCA, was 6.3% for the year ended December 31, 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, GDP increased by 1.0% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>compared to the previous year. The </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciated to R$3.3080 against </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the U.S. dollar on December 31, 2017</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, compared with R$3.2591 per U.S. dollar on December 31, 2016. The COPOM decreased the basic interest rate from 13.75% on December 31, 2016 to 7.00% on December 31, 2017. The inflation, measured by the IPCA, was 3.0% for the year ended December 31, 2017.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>107</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> <FONT style="FONT-SIZE: 8pt" face=Arial>B</FONT></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>radesco</FONT></FONT></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows Brazilian inflation measured by IPCA, the appreciation/(depreciation) of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>against the U.S. dollar, the exchange rate at the end of each year and the average exchange rate for the periods indicated:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>In R$, except %</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Inflation (IPCA)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.0%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.3%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.7%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Appreciation/(depreciation) of the real against the U.S. dollar </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1.5)%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.5%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(47.0)%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Period-end exchange rate-US$1.00 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3080 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3.2591 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3.9048 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average exchange rate&#8209;US$1.00 <SUP>(1) </SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3.2074 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3.4849 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3.3314 </FONT></P></TD></TR>

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   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Average exchange rate considering the closing exchange rates at the end of each month starting December of the previous year.</FONT></P></TD></TR>

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   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sources: FGV and the Central Bank.</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows GDP variation in real terms and average interbank interest rates for the periods indicated:</FONT></P>

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<TR style="HEIGHT: 12pt">

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Change in </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>real</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> GDP <SUP>(1)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3.6)%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3.5)%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average base interest rates <SUP>(2)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average interbank interest rates <SUP>(3)</SUP> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.9%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.2%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif"> Calculated by dividing the change in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif"> GDP during a year by the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif"> GDP of the previous year; GDP 2017 = estimates;</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif"> Calculated in accordance with Central Bank methodology (based on nominal rates); and</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif"> Calculated in accordance with B3 methodology (ex-Clearing and Custody Chamber -"CETIP") (based on nominal rates).</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=4>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face="arial unicode ms,sans-serif">Sources: The Central Bank, the Brazilian Geography and Statistics Institute and B3.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 6pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Effects of the global financial markets on our financial condition and results of operations</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The global economic environment was generally favorable during 2017. The political risks in Europe dissipated, the economy resumed growth and inflation rates remained stable in the major economies. In this sense, we see a positive scenario on the liquidity aspect with a reduction of the risk and the maintenance of monetary policies.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For 2018, we expect continued economic growth considering (i) the increase of investments in the last months of 2017, suggesting a longer season of growth and (ii) the spread of the economic expansion around the countries, affecting the prices of raw materials such as metallic commodities and oil</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The gap between the rate of growth and the adjustments of prices increased gradually. A new economic acceleration in 2018 will raise the risk of inflation &#8211; we project an expansion of 3.8% for global GDP, compared to the forecast of 3.6% in 2017. Thus, although we expect that the monetary policy will stabilize, the risk balance suggests more volatility in the assets (interest rates, currencies, stock markets, etc.) compared to what happened last year</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the USA, business activities and the approval of tax reform created a positive environment in the economy and reinforced our expectation of an expansion of 2.6%, in 2018. We believe that the inflation scenario should not bring major concerns to the Federal Reserve, which may maintain the current conservative monetary policy: we estimate four additional high interest rates this year, one per quarter</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In Europe, the result of the intense political timetable for 2017 was positive for the European Union, particularly with regard to the consolidation of the French and German Governments, which have strengthened a pro-European unification agenda. The political agenda of the continent deserves attention in 2018, particularly </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>the developments of the Italian elections</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, the parliamentary address in Catalonia and the continuity of Brexit negotiations. Although the economy has grown significantly, inflation remained stable. Thus, regarding the deployment of the monetary policy, unlike the Federal Reserve, the ECB (European Central Bank) has adopted an expansionist policy. However, the expectation is that this tone should move towards neutrality between the end of 2018 and beginning of 2019</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Overall, in spite of the moderate growth in China, the maintenance of global demand over the coming months (especially for the developed countries) should create a scenario of inflation slightly different from the one observed in 2017, with prices showing some acceleration during the year, reflecting the pressure of prices of commodities or responding to the increase of wages</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Effects of interest rates and devaluation/appreciation on net interest income</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>During periods of high interest rates, our interest income increases due to increasing interest rates on our interest-earning assets. At the same time, our interest expense increases as interest rates on our </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>108</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest-bearing liabilities also increase. Changes in the volumes of our interest-earning assets and interest-bearing liabilities also affect our interest income and interest expense. For example, an increase in our interest income attributable to an increase in interest rates may be offset by a decrease in the volume of our outstanding loans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, when the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> depreciates, we incur: (i) losses on our liabilities denominated in, or indexed to, foreign currencies, such as our U.S. dollar-denominated long-term debt and foreign currency loans, as the cost in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of the related interest expense increases; and (ii) gains in our assets denominated in, or indexed to, foreign currencies, such as our dollar-indexed securities and loans and advances, as the income from such assets as measured in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> increases. Conversely, when the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> appreciates, as was the case, for example, in 2010 and 2016, we incurred: (i) losses on our assets denominated in, or indexed to, foreign currencies; and (ii) gains in our liabilities denominated in, or indexed to, foreign currencies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2016, our net interest income increased</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by 1.8</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% in relation to 2015, from R$55,636 million in 2015 to R$56,663 million in 2016. This growth is mainly related to an increase in the business volume of R$5,444 million, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>mainly due to the consolidation of HSBC Brasil. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This increase was partially offset by changes in average interest rates, which includes the effect from the appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and impacted in R$4.417 million as a result of the decrease in the average net interest margin, from 6.7% in 2015 to 5.7% in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, our net interest income decreased</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by 10.6</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% in relation to 2016, from R$56,663 million in 2016 to R$50,643 million in 2017. This decrease is mainly related to changes in average interest rates, impacting our results by R$8,572 million as a result of the decrease in the average net interest margin, from 5.7% in 2016 to 4.9% in 2017. This decrease was partially offset by the increase in the volume of business, which contributed with R$2,552 million to our net interest income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show our foreign-currency denominated or indexed assets and liabilities as of the dates indicated:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="52%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="48%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,252,743 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,254,550 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,305,430 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,267,984 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,096,072 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,478,512 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,032,875 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,843,673 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,487,331 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,614 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 20,894 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 41,092 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,442,912 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,744,991 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,306,897 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,317,915 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,402,807 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,368,658 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>30,206,339 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 37,774,932 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 50,250,575 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Property and equipment, net of accumulated depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22,301 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 25,823 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 27,617 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,355 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 14,138 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 29,354 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Taxes to be offset</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 40,744 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 33,558 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 44,450 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,239 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>262,502 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,388,929 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 14,398,923 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,328,661 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 12,373,038 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total assets</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 62,005,944 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 69,802,601 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 91,101,883 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Off&#8209;balance sheet accounts &#8211; notional value</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivatives</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Futures </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 45,761,604 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 100,581,577 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 96,679,181 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Forward</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 61,945,267 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 70,938,623 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 72,408,901 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Options </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,873,614 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,480,183 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>744,507 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Swaps </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 83,452,524 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 129,516,898 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 171,025,037 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total assets with derivatives (a)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>257,038,953 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 372,319,882 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 431,959,509 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="52%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="48%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27,717,074 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>29,842,987 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,944,658 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,517,759 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,436,355 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27,576,216 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>520,154 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>324,190 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,300,208 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,078,089 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,815,118 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,477,171 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,637,722 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,455,186 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,714,437 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,002 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>653 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>946 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other provisions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,954 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,816 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,218 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Current income tax liabilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,794 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,990 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27,137 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,757,774 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,424,283 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 6,747,195 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total liabilities</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>63,242,322 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>75,325,578 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>95,801,186 </FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Off&#8209;balance sheet accounts &#8211; notional value</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivatives</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Futures </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>80,477,183 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>131,518,068 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>114,575,804 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Forward </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>63,854,548 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>72,763,569 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>72,557,432 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Options </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,188,412 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,851,857 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,194,413 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Swap </FONT></I></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>99,508,626 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>142,154,441 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>181,459,003 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total liabilities with derivative (b)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>311,271,091 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>423,613,513 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>465,587,838 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net exposure (a-b)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (54,232,138)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (51,293,631)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (33,628,329)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We use swaps, futures contracts and other hedging instruments in order to minimize the potential impact of currency changes on our operations. For more information on our use of derivatives for hedging purposes, see Notes 2(f) and 20(c) to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our net exposure in relation to our total assets amounted to 4.4% as of December 31, 2017, 4.3% as of December 31, 2016 and 3.3% as of December 31, 2015.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxes</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our income tax expenses comprise IRPJ, which is levied at a rate of 15.0% on our adjusted net income, plus an additional 10.0% and the Social Contribution Tax, which is levied at a rate of 15.0% on our adjusted net income, both are federal taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2008, the government increased the social contribution tax rate for the financial sector from 9.0% to 15.0%. From May 2008 to August 2015, financial institutions incurred the social contribution tax on adjusted net income at a 15.0% rate. The legality of this increase is being challenged in actions brought before the STF. If the STF decides that this increase is not legal, we will be entitled to recover any amount we have paid under the 15.0% tax rate regime in excess of what we would have incurred for the social contribution tax under the 9.0% regime. For the period between September 2015 and December 2018, the rate applicable for financial institutions and for the insurance industry was changed to 20.0%, pursuant to Law No. 13,169/15. The rate will return to 15.0% beginning in January 2019. For the other companies, the social contribution is calculated considering a rate of 9.0%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Corporations based in Brazil may pay shareholders interest on equity as an alternative form of making a portion of dividend distributions, which are deductible from taxable income. We intend to maximize the amount of dividends we pay in the form of interest on equity. For further information on our tax expenses, see "Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Taxation &#8211; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Income Tax and social contribution on profits</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" and "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Allocation of net income and distribution of dividends" and "Item 10.E. Taxation &#8211; Brazilian tax considerations &#8211; Distributions of interest on equity."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impact of material acquisitions and strategic alliances on our future financial performance</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that the acquisitions and strategic alliances </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>conducted in the last years will contribute to </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increase our future results. The amount of these increases is uncertain, and we therefore cannot estimate their impact on our future financial performance. For more information, see "Item 4.A. History and Development of the Company &#8211; Recent acquisitions" and &#8220;</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Item 4.A. History and Development of the Company &#8211; Other strategic Alliances.&#8221;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>110</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Critical accounting policies</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our significant accounting policies are described in Note 2 to our audited consolidated financial statements in "Item 18. Financial Statements." The following section describes the areas that require the most judgment or involve a higher degree of complexity in the application of the accounting policies that currently affect our financial condition and results of operations. The accounting estimates we make in these contexts involve making assumptions about highly uncertain matters. In each case, other estimates or changes in the estimates between periods could cause a material impact on our financial condition and results of operations, as shown in our financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>At the end of each reporting period, we review the impairment of loans and advances, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>evaluating the estimated loss on impairment of loans and advances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The determination of the impairment of loans and advances, by its nature requires judgments and assumptions about the portfolio of loans and advances, for both specific products and portfolios and on an individual basis. When we analyze our portfolio as a whole, several factors can affect our estimate of the likely range of losses, depending on the methodology we use for measuring historical delinquency rates and the historical period we consider in making those measurements. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additional factors that may affect the determination of impairment of loans and advances include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>general economic conditions and conditions in the relevant industry;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>past experience with the relevant debtor or industry, including recent loss experience;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>trends affecting quality of loans;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>value of collateral for loans and advances;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>volume, composition and growth of our loans and advances</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>the government's monetary policy; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>any delays in receiving information needed to value loans and advances or confirm existing impairment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We use models to analyze portfolio of loans and advances and determine the extent of impairment. Statistical loss factors and other risk indicators are applied to loan and advances pools with similar risk characteristics in arriving at an estimate of incurred losses in the portfolio to calculate the models. Although models are often monitored and reviewed, by their nature, they depend on judgments made in relation to information and/or forecasts used. The volatility of the economy is one of the reasons that may lead to greater uncertainty in our models than would be expected in more stable macroeconomic environments. Consequently, our impairment of loan and advances may not be indicative of actual future losses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For a sensitivity analysis, we assess the impact of an increase in the probability of default (PD) over the amount of impairment. In this assessment, an increase of 10.0% in the PD as of December 31, 2017, would have increased the impairment by R$503.7 million. This sensitivity analysis is hypothetical, and is only meant to illustrate the impact that the expected delinquency has on determining impairment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The process of determining the level of impairment of loans and advances requires the use of estimates and judgment. Actual losses in the period as shown in subsequent periods may differ from initial calculations based on such estimates and assumptions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For additional information regarding our practices related to the impairment of loans and advances, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Impairment of loans and advances and Non-performing loans and advances and impairment of loans and advances."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fair value of financial instruments</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The financial instruments recorded at fair value in our consolidated financial statements consist primarily of financial assets held for trading, including derivatives and financial assets available for sale. The fair value of a financial instrument is the amount for which it could be traded in an arm&#8217;s length transaction </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>between willing parties, without any forced sale and settlement</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These financial instruments are categorized in a ranking based on the lowest level of information significant for measuring fair value. For instruments classified as Level 3, we have to use a significant amount of our own judgment to measure fair market value. We base our judgment on our knowledge and observations of the relevant markets for individual assets and liabilities and these judgments may vary based on market conditions. In applying our judgment, we analyze a series of third-party prices and transaction </FONT>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The fair values of financial </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>assets held for trading and available for sale</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> are primarily based on actively traded markets where prices are based on direct market quotes, observed transactions or market prices for similar assets. Liquidity is a significant factor in the determination of the fair values of financial assets held for trading and available for sale. Situations of illiquidity generally are triggered by the market's perception of credit uncertainty regarding a single company or a specific market sector. In these instances, the financial assets are classified within Level 3 of the valuation hierarchy once the fair value is determined, based on unobservable inputs that are supported by limited available market information and that are significant to the fair value of the assets, as well as other factors which require Management to exercise significant judgment or estimation. As of December 31, 2017, R$7,239 million, or 1.6%, of financial assets held for trading</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>available for sale, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pledged as collateral and net derivatives </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>were classified as Level 3 fair value assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Exchange-traded derivatives valued using quoted prices are classified within Level 1 of the valuation hierarchy. However, few classes of derivatives contracts are listed on the exchange. Therefore, the majority of our derivative positions </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>are </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>classified as Level </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of the valuation hierarchy</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and are</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> determined using quantitative models that require the use of multiple inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors, including the period to maturity. These inputs are used to value the position. Most market inputs are observable and can be obtained mainly from B3 and the secondary market. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The imprecise nature of estimating non-observable market data may impact amounts of revenue or loss posted for a particular position. In addition, although we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine fair value of certain financial instruments may result in a different estimate of fair value on reporting date. For a detailed discussion of the determination of fair value of financial instruments, see Note 3 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of financial assets available for sale</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Periodically, we assess the existence of impairment of financial assets available for sale if there is a prolonged or significant decrease in their fair value, see Note 2(f) (viii) (b) to our consolidated financial statements in "Item 18. Financial Statements."&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Determining a prolonged or significant decrease in value requires the use of judgment, as to what normal volatility is for asset prices, among other factors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, valuations use market prices or valuation models that require the use of certain assumptions or judgment to estimate fair value. </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Classification of securities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The classification of securities into financial assets held for trading, available for sale, or investments held to maturity categories is based on Management's intention to hold or trade such securities at the time of acquisition. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The accounting treatment of the securities we hold depends on whether we classify them at acquisition as financial assets held for trading, available for sale or investments held to maturity. Changes in circumstances may modify our strategy with respect to a specific security, requiring transfers among the three categories.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Impairment of goodwill </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>At least every year, we have to determine if the current carrying value of goodwill has been impaired. The first step in the process is identifying independent cash generating units and their allocations of goodwill. A unit's carrying amount, including allocated goodwill, is then compared to value in use to see whether there is impairment. If a cash-generating unit's value in use is less than carrying amount, goodwill is impaired. Detailed calculations to reflect changes in the market in which a business operates may be required (e.g. competition and regulatory change). Calculations are based on discounted cash flows before tax at an interest rate adjusted by appropriate risk for the operational unit; in both cases determining these values requires the use of judgment. Although predictions are compared to current performance and external economic data, expected cash flows reflect our outlook for future performance. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Income tax</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The determination of our income tax liability (including social contribution) is a complex task that is related to our analysis of deferred tax assets and liabilities and income tax payable. In general, our assessment requires us to estimate future amounts of current and deferred income tax. Our assessment of the possibility of realizing deferred tax is subjective and involves assessments and assumptions that are inherently uncertain. Realization of deferred tax assets is subject to changes in future interest rates and developments of our strategies. Support for our assessments and assumptions may change over time because of unanticipated events or circumstances that affect the determination of our tax liability.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Significant judgment is required to determine whether an income tax position will be sustained upon examination, even after the outcome of any administrative or judicial proceeding based on the technical merits. Judgment is also required to determine the value of a benefit eligible for recognition in our consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, we monitor interpretation of tax legislation and decisions made by tax authorities and courts, in order to adjust any previous judgment as to accrued income tax. This monitoring may also arise from our income tax planning and or settlement of income tax disputes and may be significant for our operating income in any given period. For further information on our income tax, see Note 17 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For additional information regarding our income tax, see "Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Taxation &#8211; Income and social contribution taxes on profits."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance technical provisions and pension plans</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our insurance technical provisions and pension plans are liabilities for amounts we estimate will be due to our policyholders and plan participants at a certain point in the future. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These values represent the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>future </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>claims/</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>benefits stated in contracts, such as retirement payments, pensions, individual and group life insurance, health insurance and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>damage insurance</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, among other items. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Benefits and claims stated in contracts also include provisions for claims incurred but not reported relating to health, property and life insurance. We recognize claims in the period in which the service was provided to our policyholders. However, claim costs incurred in a particular period are not known with certainty until we receive the reports, process them, and pay out the claims. We determine </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the amount of such provision</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> using actuarial methods based on historical </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>warnings</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/payments of claims to determine our estimates of claim liabilities. Methods used to determine these estimates and to make technical provisions are regularly reviewed and updated. For additional information, see Note 2(o) to our consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In long-term health insurance contracts, the establishment of Other Technical Provisions can also be used to cover any resulting differences between the expected value of the future claims and future related expenses and the expected value of future premiums.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For certain products offered such as pension plans and funds the participants go through two distinct phases as part of the contract: first accumulating assets, then enjoying benefits. During the accumulation phase, technical provisions increase as contributions are received and interest is credited (based on contractual arrangements) and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> decrease by redemptions paid</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If it is necessary to complement the technical provisions, the Complementary Reserve for Coverage (PCC) will be established, which value is calculated in accordance with the Liability Adequacy Test (LAT). The LAT is prepared with statistical and actuarial methods based on realistic assumptions, taking into account the biometric table BR-EMS of both genders, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>adjusted by the criteria of longevity compatible with the latest versions disclosed</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>improvement</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) and interest rate curves (ETTJ) free from risk, as authorized by SUSEP. Improvement is a technique that updates the biometric table automatically, considering the expected increase in future life.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The technical provisions are computed using assumptions of mortality, disability, cancellation, interest rates, inflation and costs, which are based on our experience and are periodically reassessed in relation to the sector patterns</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For sensitivity analysis purposes, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>regarding life and damage, except for life individual insurance</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, the impact of a 1 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>percentage point</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> increase in claims in the last 12 months, with the calculation base date being December 31, 2017, would </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>lead to a</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> R$158.4 million decrease on </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>income and shareholders&#8217; equity after taxes and contributions</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In relation to life insurance with living benefits, individual life insurance and pension plans, we assessed the impact of decreasing interest rates, increasing beneficiary longevity and increase in the income-conversion option on income and shareholders&#8217; equity after taxes and contributions. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this assessment, a decrease of 5.0% in interest rates would lead to R$179.0 million decrease on </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>income and </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>shareholders&#8217; equity after taxes and contributions</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The increase </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>0.2 percentage point in the longevity of beneficiaries would represent </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a negative</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> impact of R$41.1 million on income and shareholders&#8217; equity after taxes and contributions, while an increase </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5 percentage points in the conversion into income would represent </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a negative</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> impact of R$40.1 million on income and shareholders&#8217; equity after taxes and contributions.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Use of estimates and judgements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Upon issuance of the financial statements, we also make estimates and assumptions concerning useful lives of certain non-financial assets and possible impairment of a specific asset or group of assets. Estimates are by nature based on judgment and available information. Therefore, actual results may differ from these estimates. For further information on the use of estimates and judgements, see Note 4 to our consolidated financial statements in &#8220;Item 18. Financial Statements.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other matters</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>IFRS 9 replaces the IAS 39 - Financial Instruments: Recognition and Measurement guidance. IFRS 9 applies to financial instruments shall be applied retrospectively on the effective date of the IFRS, January 1, 2018. IFRS 9 includes: (i) new models for the classification and measurement of financial instruments; (ii) measurement of expected credit losses for financial assets; and (iii) new requirements on hedge accounting. The new standard maintains the principal existing guidance on the recognition and derecognition of financial instruments in IAS 39.</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> For further information on IFRS 9, see Note 42 to our consolidated financial statements in &#8220;Item 18. Financial Statements.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Commitments and contingencies</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have contractual obligations to make certain payments to third parties, in accordance with the amounts presented in the following table:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Contractual Obligations</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Payments due as of December&nbsp;31, 2017</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than 1 year </FONT></B><SUP><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></B></SUP></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1 to 3 years</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3 to 5 years</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,066,940 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96,232,127 </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,290,985 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27,371 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125,617,424 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Obligations for repurchase agreements</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227,346,812 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,023,807 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75,942 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,984 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233,467,544 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17,278,885 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 746,718 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496,110 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,521,713 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,052,779 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,850,619 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,558,129 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,307,767 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30,769,294 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,262,737 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47,552,456 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,590,523 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768,374 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135,174,090 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,808,462 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,581,038 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,186,204 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,603,697 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,179,401 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>210,850,589 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,239,001 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239,089,590 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other obligations</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88,358,128 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,990,664 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,157,812 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,310,220 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97,816,824 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 677,025,332 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200,216,430 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24,355,705 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,038,412 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930,635,880 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="100%" colSpan=6>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Based on our historical experience, we expect that most of our obligations that are contractually due within one year will be rolled over.</FONT></P></TD></TR></TABLE></DIV></DIV>

<P></P></DIV></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Off-balance sheet financial guarantees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to our loans and advances, we have credit-related transactions with our customers for attending to their financing needs. In accordance with IFRS, these transactions are not recorded on our balance sheet. The following table summarizes these transactions as of December 31, 2017:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="31%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Contractual Obligations</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="69%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="69%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Payments due as of December&nbsp;31, 2017</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than 1 year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1 to 3 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3 to 5 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial guarantees </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 16,778,332 </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,834,843 </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,827,351 </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,426,822 </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 78,867,348 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Letters of credit </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>294,229 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>294,229 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 17,072,561 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,834,843 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,827,351 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,426,822 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9.5pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 79,161,577 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We guarantee our customers' performance in obligations with third parties. We have the right to seek reimbursement from our customers for any amounts paid under these guarantees. Additionally, we may hold cash or other collateral with high liquidity to guarantee these obligations. These agreements are subject to the same credit evaluation as other loans granted.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Letters of credit are conditional commitments issued by us to guarantee the performance of a customer's obligations with third parties. We issue commercial letters of credit to facilitate foreign trade transactions and to support public and private borrowing agreements, including commercial papers, bond financing and similar transactions. These instruments are short-term commitments to pay a third party beneficiary under certain contractual conditions, for the shipment of products. Contracts are subject to the </FONT></P>

<a name="_bclFooter114"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>114</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader115"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>same credit evaluations as other loans granted.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We expect many of these guarantees to expire without the need to advance any cash. Therefore, in the ordinary course of business, we expect that these transactions will have virtually no impact on our liquidity.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Results by operational segment</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We operate and manage our business through two segments: (i) the banking segment; and (ii) the insurance, pension plans and capitalization bonds segment. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following data about different segments were prepared based on reports made for Management to assess performance and make decisions on allocating funds for investments and other purposes. Our Management uses various data, including financial data prepared under accounting practices adopted in Brazil and non-financial metrics compiled on different bases. Our consolidated financial statements and consolidated financial data included in this analysis are prepared in accordance with IFRS, when results by segments significantly differ to results derived from our consolidated financial statements, such differences will be explained in conjunction with the explanations of the results that precede them. See Note 5 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For a description of our operational segment's operations, see "Item 4.B. Business Overview."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Results of operations for the year ended December 31, 2017 compared with the year ended December 31, 2016 </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables set forth the principal components of our net income for 2017 and 2016, on a consolidated basis and by segment.</FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50,642,913 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,662,989 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10.6)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net Impairment losses on loans and advances </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(16,860,835)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (15,350,278)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest income </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>123,205,938 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>115,171,491 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest expense </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (133,244,457)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (124,578,746)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23,743,559 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,905,456 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(25.6)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6,428,956)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (13,912,730)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,314,603 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,992,726 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3.8)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,089,364 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,894,249 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.5)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>225,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>98,477 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>128.7%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="38%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46,997,327 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>49,156,109 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.4)%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,857,926 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,374,229 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(65.4)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net Impairment losses on loans and advances </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(17,895,929)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (18,829,460)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(5.0)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest income </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40,812,449 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41,414,563 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1.5)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>83,890,316 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>75,664,123 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest expense </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (59,751,778)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (54,448,727)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (76,554,425)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (71,473,806)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,162,069 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,292,485 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(41.2)%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,193,817 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,564,546 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3.9)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(887,289)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7,995,420)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(88.9)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,156,153)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,915,822)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,274,780 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,297,065 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(0.2)%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,037,664 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,648,724 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10.8)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,272,962 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,293,766 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(0.2)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 4,812,425 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,550,662 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13.3)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,818 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,299 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(44.9)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>225,239 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>98,062 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>129.7%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net interest income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The table below shows the main components of our net interest income before impairment of loans and advances for 2017 and 2016, on a consolidated basis and by segment:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>115</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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&nbsp; <A name="page_116"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader116"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>126,232,328 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>147,700,375 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14.5)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (75,589,415)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (91,037,386)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(17.0)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50,642,913 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,662,989 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10.6)%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>108,302,148 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>118,585,106 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(8.7)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (61,304,821)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (69,428,997)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(11.7)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46,997,327 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>49,156,109 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.4)%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,032,476 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>26,769,779 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(25.2)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (18,174,550)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (21,395,550)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(15.1)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,857,926 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,374,229 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(65.4)%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our net interest income was attributable to changes in the average volume of interest-earning assets and interest-bearing liabilities, how much was attributable to changes in average interest rates and how much was attributable to variation to the effects of the appreciation/(depreciation) of the real for 2017 and 2016, respectively:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="48%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017/2016</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Increase/(decrease)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;earning assets and interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,552,116 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,348,099 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,134,326 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(8,648,291)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,582,978)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (4,650,628)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>76,099 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 76,097 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (6,020,076)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,158,782)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,516,303)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our net interest income decreased by 4.4% from R$49,156 million in 2016 to R$46,997 million in 2017. This decrease was mainly due to changes in the average interest rates, which had a negative impact in our revenues by R$3,583 million, partially offset by the increase </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>average volume of business contributing </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$1,348 million to the result, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>as a result of a 1.3% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increase in the average balance of interest-earning assets, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increasing our revenues by R$1,237 million, partly as a result of the increase of: (a) 28.3% in the average balance of assets pledged as collateral; and (b) 5.4% of compulsory deposits to the Central Bank. The impact on our net interest income, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>due to the appreciation/(</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>depreciation)</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of the </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, was</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> R$76 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our net interest income decreased by 65.4%, from R$5,374 million in 2016 to R$1,858 million in 2017. This reduction was mainly due to changes in average interest rates, negatively impacting our results by R$4,651 million, as a result of the decrease in the average rate on interest-earning assets, from 12.2% in 2016 to 7.7% in 2017, partially offset by the average interest rate paid on our interest-bearing liabilities, from 10.8% in 2016 to 8.0% in 2017. This reduction was partially offset by an increase in the average volume of business, contributing R$1,134 million to our result, mainly influenced by the increase of 18.3% in the average volume of interest-earning assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show, on a consolidated basis and by segment, the average balance of the principal components of our interest-earning assets and the average interest rates earned in 2017 and 2016: </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>116</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance of interest&#8209;earning assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>209,289,723 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>180,250,789 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16.1%</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>113,911,212 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>122,649,627 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7.1)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>41,836,244 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>41,834,019 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>193,203,196 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,544,635 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>57,277,934 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,961,405 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(15.7)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>363,674,189 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,112,857 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2.5)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>58,875,557 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,847,576 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other interest&#8209;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>871,012 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>722,571 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,038,939,067 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>992,923,479 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.6%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average interest rate earned</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.2%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.9%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="34%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="66%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average balance of interest&#8211;earning assets</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,035,898 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,557,643 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1.7)%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>182,077,230 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>149,325,995 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>87,337,876 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100,437,376 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13.0)%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>26,572,946 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,211,842 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.6%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,395,622 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,485,593 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(0.7)%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,440,622 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,348,426 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>193,203,196 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,544,635 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28.3%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,316,158 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,987,562 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(18.6)%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,848,251 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,991,407 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.9%</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>363,674,189 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,112,828 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2.5)%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>58,875,557 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,847,576 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.4%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other interest&#8209;earning assets </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>871,012 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>722,571 </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20.5%</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>801,709,508 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>791,695,784 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.3%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>258,939,049 </FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>218,877,670 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18.3%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average interest rate earned</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.5%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.0%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.7%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.2%</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information about average interest rates by type of assets, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Average balance sheet and interest rate data."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our interest and similar income was attributable to changes in the average volume of interest-earning assets; how much was attributable to changes in average interest rates and how much was attributable to variation to the effects of the appreciation/(depreciation) of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar, in each case comparing 2017 and 2016:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017/2016</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Increase/(decrease)</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,193,309 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,236,592 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,935,564 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(26,911,891)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(11,770,083)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,672,866)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>250,535 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>250,533 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(21,468,047)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(10,282,958)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,737,303)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income decreased by 8.7%, from R$118,585 million in 2016 to R$108,302 million in 2017. This decrease was mainly due to changes in the average interest rates, from 15.0% in 2016 to 13.5% in 2017, impacting our interest and similar income in the amount of R$11,770 million, mainly, through transactions with: (a) loans and advances to customers; (b) loans and advances to banks; (b) financial assets available for sale; (c) financial assets held for trading; (d) financial assets assigned as collateral; (e) compulsory deposits to the Central Bank; (f) investments held to maturity, partially offset by the increase in the average rate of transactions with: (i) financial assets available for sale; (ii) by the increase in the average volume of interest-earning assets, with a positive impact of R$1,237 million; and (iii) appreciation/(depreciation) of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, which represented income of R$251 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from loans and advances to customers decreased by 6.4%, from R$68,452 million in 2016 to R$64,084 million in 2017. This decrease is related to: (i) a decrease of the </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>117</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>average interest rate, due to changes in Brazilian interest rates, with the SELIC rates varying from 13.7% in 2016 to 7.0% in 2017, (ii) 2.5% in the average balance of our portfolio of loans and advances to customers, from R$373,113 million in 2016 to R$363,674 million in 2017, impacting our interest and similar income by R$1,705 million. The transactions that contributed the most with the reduction of the volume were the BNDES/Finame transfers, other corporate loans and advances and import and export financings, partially offset by the growth of loans and advances to individuals.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from loans and advances to banks decreased by 41.6%, from R$8,689 million in 2016 to R$5,073 million in 2017. This decrease was due to: (i) changes in the average</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interbank interest rates, from 14.0% in 2016 to 9.9% in 2017; (ii) changes in the average interest rates, impacting the results by R$2,178 million, due to changes in the and (iii) the 18.6% decrease in the average balance of these assets, from R$67,988 million in 2016 to R$55,316 million in 2017, impacting our interest and similar income by R$1,438 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from financial assets held for trading decreased by 37.1%, from R$3,906 million in 2016 to R$2,456 million in 2017. This decrease was largely due to changes</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in the average interest rates earned, from 12.8% in 2016 to 8.2% in 2017, which impacted our income in the amount of R$1,385 million. The reductions in average rates earned reflect the decrease in the average of interbank interest rates, which decrease from 14.0% in 2016 to 9.9% in 2017, as well as other economic indicators, such as the IPCA, which decrease from 6.3% in 2016 to 3.0% in 2017, and the IGP-M, which in 2016 registered a positive variation of 7.2%, and in 2017 a negative variation of 0.5%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from financial assets pledged as collateral decreased by 2.2% or R$470 million, from R$21,739 million in 2016 to R$21,269 million in 2017. This variation was mainly due to a decrease in the average interest rate, from 14.4% in 2016 to 11.0% in 2017,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>due to changes in the average interbank interest rates, from 14.0% in 2016 to 9.9% in 2017, impacting our revenues by R$5,834 million, partially offset by the increase of 28.3% in average balance of these assets, from R$150,545 million in 2016 to R$193,203 million in 2017, with a positive impact in our interest and similar income in the amount of R$5,364 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from compulsory deposits with the Central Bank decreased by 13.9%, from R$5,668 million in 2016 to R$4,881 million in 2017. This decrease was due to changes in the average interest rates, from 10.1% in 2016 to 8.3% in 2017, impacting the interest and similar income by R$1,081 million. This effect was partially offset by the increase in the average volume of these assets, from R$55,848 million in 2016 to R$58,876 million in 2017, increasing our interest and similar income in the amount of R$294 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from financial assets available for sale increased by 7.2%, from R$8,600 million in 2016 to R$9,223 million in 2017. This increase is related to an increase in the average interest rate, from 8.6% in 2016 to 10.6% in 2017, contributing R$1,838 million to our revenues. This increase was impacted by the decrease in the average balance of these transactions, from R$100,437 million in 2016 to R$87,338 million in 2017, decreasing our revenues by R$1,215 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income originating from investments held to maturity decreased by 14.8% from R$1,465 million in 2016 to R$1,248 million in 2017. This was mainly due to changes in the average interest rates, from 11.7% in 2016 to 10.1% in 2017, impacting our interest and similar income by R$207 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest and similar income decreased by 25.2%, from R$26,770 million in 2016 to R$20,032 million in 2017. This decrease was due to: (i) changes in the average interest rates, from 12.2% in 2016 to 7.7% in 2017, impacting our revenues by R$10,673 million. This decrease was partially offset by the average volume of transactions, contributing R$3,936 million to our revenues. The reductions in average rates earned reflect the fall in the average of interbank interest rates, which fell from 14.0% in 2016 to 9.9% in 2017, as well as other economic indicators, such as for example the IPCA, which went from 6.3% in 2016 to 3.0% in 2017, and the IGP-M, which in 2016 registered a positive variation of 7.2%, and in 2017 a negative variation of 0.5%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar expenses</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The tables below show, on a consolidated basis and by segment, the average balance of the main components of our interest-bearing liabilities and the average interest rates paid on them in 2017 and 2016:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>118</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<DIV align=left>

<DIV align=left><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Average balance of interest-bearing liabilities</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,397,862 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>16.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96,511,751 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>3.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122,959,605 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111,471,035 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>10.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238,407,697 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232,718,923 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58,617,611 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65,927,057 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>(11.1)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138,281,213 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151,629,726 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>(8.8)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,065,114 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,348,349 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>(0.5)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>226,765,103 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198,174,725 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>14.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935,005,956 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907,074,035 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>3.1%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Average interest rate paid</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>8.1%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>10.0%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></FONT></DIV>

<P><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P>&nbsp;</P>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="40%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Average balance of interest&#8209;bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,397,862 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>16.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96,511,751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>3.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123,100,139 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111,553,878 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>10.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257,372,107 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253,043,296 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>1.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58,617,611 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65,927,057 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>(11.1)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140,866,165 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152,132,556 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>(7.4)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,065,114 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,348,349 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>(0.5)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>-&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226,765,103 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198,174,725 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>14.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729,930,749 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729,809,356 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>0.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226,765,103 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198,174,725 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>14.4%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Average interest rate paid</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>8.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>9.5%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>8.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>10.8%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information on average interest rates by type of liability, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Average balance sheet and interest rate data."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our interest and similar expenses was attributable to changes in the average volume of interest-bearing liabilities, how much was attributable to changes in average interest rates and how much was attributable to variation in the effects of the appreciation/(depreciation) of the real in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/U.S. dollar rate, in each case comparing 2017 to 2016:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017/2016</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Increase/(decrease)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,641,193 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (111,507)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,801,238 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(18,263,600)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(8,187,105)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6,022,238)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>174,436 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>174,436 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(15,447,971)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(8,124,176)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,221,000)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest and similar expenses decreased by 11.7% from R$69,429 million in 2016 to R$61,305 million in 2017. This decrease was largely due to a decrease of the average interest rate paid, from 9.5% in 2016 to 8.4% in 2017, positively impacting the expenses by R$8,187 million. The variation of the average balance of the obligations on which interests apply decreased our expenses by R$112 million, highlighting: (i) funds from issuance of securities, in the amount of R$1,206 million; and (ii) borrowing and on-lending, in the amount of R$391 million. These decreases were partially offset by the increase in the average balance of: (i) time deposits, impacting the result by R$842 million; (ii) obligations for repurchase agreements, increase of expenses in the amount of R$452 million; and (iii) savings deposits, increase of expenses by R$203 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=Arial,sans-serif><FONT lang=EN-US color=windowtext face=Arial,sans-serif>Our interest and similar expenses decreased by 15.1%, from R$21,396 million in 2016 to R$18,175 million in 2017. This decrease reflects the decrease of the average interest rate for insurance and pension plan technical provisions, from 10.8% in 2016 to 8.0% in 2017, decreasing our expenses by R$6,022 million. </FONT></FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This effect was partially offset by the increase of 14.4% in the average volume of technical provisions, impacting our expenses by R$2,801 million.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>119</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader120"></a><DIV>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net impairment losses on loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In view of conceptual differences between net impairment losses on loans and advances to customers under BR GAAP and IFRS, and to provide a better understanding of the information presented, we present below a reconciliation of those accounting practice differences, as well as the related analysis of the net impairment losses on loans and advances to customers under IFRS.</FONT></P>

<DIV align=left>

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   <TD style="BORDER-TOP: black 1pt solid; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="50%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net Impairment losses on loans and advances</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>&nbsp;</TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Banking - BR GAAP</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (17,895,929)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (18,829,460)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(5.0)%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 20.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Accounting Pratices Diferences (IFRS x BR GAAP)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,035,094 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,479,182 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(70.2)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Consolidated - IFRS </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (16,860,835)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (15,350,278)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.8%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Main difference between accounting practices for net impairment losses on loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main difference between the accounting practice between BR GAAP (CMN Resolution No. 2,682/99), and IFRS (IAS 39), is the form of recognition and measurement of impairment losses on loans and advances. While the practice adopted by the Central Bank is a provision based on a mix of future expected losses and incurred losses, including certain minimium prescribed provisions by category of loans, under IFRS the recognition and measurement of impairment losses is based on actual losses incurred. For further information, see &#8220;Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Banking Regulations &#8211; Treatment of loans and advances&#8221; and Note 3.1 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows changes in our impairment on loans and advances, net impairment losses on loans and advances, loans recovered and loan charge-offs for the years ended 2017 and 2016,&nbsp;as well as our ratio of net impairment losses on loans and advances to loans and advances to customers (shown as a percentage of the average balance of our loans and advances to customers) in all cases based on consolidated financial information prepared in accordance with IFRS:</FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="55%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment provision of loans and advances at the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2.6)%</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net impairment losses on loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16,860,835 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,350,278 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.8%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loan recoveries </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 7,034,857 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,507,507 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27.7%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loan charge-offs </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (21,620,965)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (21,532,150)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.4%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment provision of loans and advances at the end of the year</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27,055,566 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Ratio of net impairment losses on loans and advances to average loans and advances to customers </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The balance of our impairment of loans and advances to customers increased by 9.2%, from R$24,781 million in 2016 to R$27,056 million in 2017. This increase was primarily due to </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the increase of: (i) 9.8% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in net impairment losses on loans and advances, from R$15,350 million in 2016 to R$16,861 million in 2017; and (ii) 27.7% in the loans recovered, from R$5,508 million in 2016 to R$7,035 million in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The balance of loans and advances to customers classified as past due but not impaired decreased by 4.7%, from R$337,337 million in 2016 to R$321,596 million in 2017. Of this total, 96.2% of loans were rated "low risk." The impairment of loans and advances as a percentage of total loans and advances to customers changed from 6.3% in 2016 to 7.2% in 2017, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>highlighting the bigger loss allocated to the transactions of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real estate financing, working capital and credit card.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Calculations of impairment of loans and advances include an individual analysis of impaired loans and advances to customers, and an analysis of losses on loans and advances to individually non-significant customers, as follows:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>120</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment provision of loans and advances to individually significant customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,208,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;6,575,000 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment provision of loans and advances to individually non-significant customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19,847,366 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;18,205,839 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;27,055,566 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.2%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The total of related losses on loans and advances to individually non-significant customers increased 9.0% or R$1,642 million, highlighting losses allocated to real estate financing transactions, from R$839 million in 2016 to R$1,779 million in 2017, and credit card transactions, from R$4,739 million in 2016 to R$5,244 million in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our level of loan losses, defined as the amount of net charge-offs compared to the average balance of loans and advances to customers, including overdue loans, decreased from 4.1% in 2016 to 3.8% in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our loans and advances to customers portfolio decreased by 4.7% from R$392,084 million in 2016 to R$373,814 million in 2017. We highlight: (i) the decrease of 9.7% in loans and advances to legal entities, from R$221,158 million in 2016 to R$199,825 million in 2017, particularly in the following products: working capital, export financing and onlending BNDES/Finame; and (ii) growth of 1.8% in loans and advances to individuals, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>particularly with regard to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> real estate financing transactions and payroll-deductible loans and vehicles. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that our impairment of loans and advances is sufficient to cover losses incurred regarding our portfolio, which can be evidenced, among other indicators, by our coverage ratio, measured by the total loss by impairment of loans and advances as a percentage of non-performing loansand advances to customers</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> which increased from 106.0% in 2016 to 130.2% in 2017.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Non-interest income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show, on a consolidated basis and by segment, the principal components of our non-interest income for 2017 and 2016:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt">

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.5pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.5pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net fee and commission income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22,748,828 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,341,051 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets and liabilities held for trading </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,623,108 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16,402,770 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(41.3)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets available for sale&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>570,358 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (1,341,400)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(142.5)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>70,046,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,027,122 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,718,411 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,699,725 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18,498,598 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,042,223 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>123,205,938 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>115,171,491 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="40%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="60%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net fee and commission income</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>24,143,561 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,696,785 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.7%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>787,014 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>651,482 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets and liabilities held for trading </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,011,351 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,918,934 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(59.7)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 3,641,626 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,250,639 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>191.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets available for sale&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(685,560)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,417,647)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(51.6)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>713,425 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>805,051 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(11.4)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>70,046,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,027,122 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,497,268 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,538,058 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2.7)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>217,035 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,691 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,845,829 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,678,433 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>73.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,484,581 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,761,138 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40,812,449 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41,414,563 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1.5)%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>83,890,316 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>75,664,123 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.9%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest income decreased by 1.5%, from R$41,415 million in 2016 to R$40,812 million in 2017. This decrease was mainly due to: (i) net gain/losses of financial assets and liabilities classified as held for trading, from gains of R$14,919 million in 2016 to gains of R$6,011 million in 2017, primarily reflecting on the result obtained in the derivative financial instruments in 2016, mainly due to results deriving from futures contracts (which include the hedge for investments abroad, which effect of exchange variation is recorded in other financial expenses - net gains /losses on foreign currency transactions); (ii) the decrease of 2.7% or R$41 million in the result from investment in affiliated companies and joint ventures, from R$1,538 million in 2016 to R$1,497 million in 2017, partially offset by: (iii) an increase of 16.7% in the net fee and commission income, from R$20,697 million in 2016 to R$24,144 million in 2017, due to the increase of: (a) 10.3% of revenues related to checking accounts mainly due to the expansion of the portfolio of services rendered and an increase in volume of business; and (b) 9.5% in revenues from credit cards, mainly due to an increase in the financial volume traded and an increased amount of transactions carried out in the period; (c) 35.5% in fees from fund management, mainly due to the increased volume of funds raised and managed; (d) 19.4% in revenues from the management of consortiums, mainly due to the greater volume of bids received; the elevation of the average ticket; and the increase in billing on sales, which active quotas went from 1,334 thousand in 2016 to 1,411 thousand in 2017; and (e) 10.6% in the revenues from collections, mainly due to the greater volume of processed documents; (iv) the net loss of available-for-sale financial assets, from R$1,418 million in 2016 to R$686 million in 2017, due to greater gains with fixed income securities, partially offset by the recognition of impairment on debentures; and (v) largely due to the provision for guarantees provided, comprising sureties, letters of credit and standby letter of credit in compliance with the CMN Resolution No. 4,512/16.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>121</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest income increased by 10.9%, from R$75,664 million in 2016 to R$83,890 million in 2017. This performance was due mainly to: (i) an increase of 7.7% in retained insurance premiums and pension plans income, from R$65,027 million in 2016 to</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> R$70,047 million in 2017,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> resulting basically from: (a) increase of income from insurance premiums issued, which went </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;from R$62,471 million in 2016 to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> R$65,865 million in 2017; and (b) an increase in pension plan contributions, from R$3,680 million in 2016 to R$5,090 million in 2017; and (ii) the net gains/losses on financial assets and liabilities held for trading, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which went</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> from a gain of R$1,251 million in 2016 to a gain of R$3,642 million in 2017, related to fixed income securities.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Main difference between balances by segment and consolidated balances </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to the above explanations, we highlight below the main difference between our non-interest income by segment (according to BR GAAP) and our consolidated non-interest income (according to IFRS) for the year ended December 31, 2017:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net fee and commission income: </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the difference of R$2,182 million refers to: (i) the effective interest rate method in the amount of R$1,279 million; and (ii) the elimination and adjustments for other operations </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the amount of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$903 million.</FONT></P>

<P style="MARGIN: 6pt 0in 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Non-interest expense</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>The following tables show, on a consolidated basis and by segment, the principal components of our non-interest expense for 2017 and 2016:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt">&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(20,723,265)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(17,003,783)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Administrative expenses </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,882,461)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,149,563)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,568,568)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,658,413)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Changes in the insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(34,805,771)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(32,781,918)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained claims</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(25,594,962)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(24,542,433)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,405,912)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,547,008)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4.0)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,422,957 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,757 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>843.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on investiments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(54,520)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest expense</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(28,631,955)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(27,046,385)</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (133,244,457)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (124,578,746)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter122"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>122</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_123"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader123"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(19,261,590)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(15,733,611)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.4%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,589,077)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,387,935)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Administrative expenses </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(17,175,352)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,979,689)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,391,439)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,331,349)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(5,555,033)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,786,599)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (393,618)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (365,656)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Changes in the insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(34,805,771)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(32,781,918)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained claims</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(25,594,962)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(24,542,433)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,405,912)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,547,008)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.0)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,422,957 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>150,757 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>843.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest expense</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(19,182,760)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(20,099,585)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.6)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(9,373,646)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7,517,507)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>24.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(59,751,778)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(54,448,727)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.7%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(76,554,425)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(71,473,806)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.1%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B>

<P></P>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Our non-interest expenses increased by 9.7%, from R$54,449 million in 2016 to R$59,752 million in 2017. This increase was mainly due to the increase of: (i) 22.4% in personnel expenses from R$15,734 million in 2016 to R$19,262 million in 2017, due to an increase in expenses from salaries, payroll charges and benefits as a result of: (a) an increase in salaries, in accordance with the respective 2016 and 2017 collective bargaining agreements; and (b) the effect of the consolidation of HSBC Brasil; (ii) 14.7% in administrative expenses, mainly due to: (a) the increased volume of business and services in the period, partially impacted by the effect of the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>consolidation of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>HSBC Brasil; and (b) contract adjustments; (iii) 46.7% in depreciation and amortization expenses, due to, principally,</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the amortization of goodwill related to the acquisition of HSBC Brasil in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016; and partially offset by a 4.6% decrease in other non-financial expenses, partly as a result of our launch of a</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Special Voluntary Severance Program Scheme (PDVE) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in 2017</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> which provided voluntary severance to employees meeting certain eligibility requirements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest expenses increased by 7.1%, from R$71,474 million in 2016 to R$76,554 million in 2017. This increase was mainly due to the increase of: (i) 6.2% in our expenses from variation of insurance and pension plan technical provisions from R$32,782 million in 2016 to R$34,806 million in 2017; and (ii) 4.3% in retained claims, from R$24,545 million to R$25,595 in 2017, driven by the health insurance segment.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 5pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Income tax and social contribution</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We prepare the information about segments so that Management can assess the performance and make decisions regarding the allocation of resources for investments and other purposes. The calculation of the income tax and social contribution, as required by the current Brazilian laws and regulations, is performed for each legal entity and disclosed on a consolidated basis. Consequently, there is no direct relationship with the presentation per segment.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management&#8217;s decisions for tax purposes are based on analysis by individual legal entities and on a consolidated basis; consequently, Management includes consolidated data, which were discussed and analyzed, as a relevant disclosure in relation to the decision-making process.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis, the breakdown of our income tax and social contribution charges:</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="64%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income tax and social contribution</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23,743,559</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,905,456</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total income tax and social contribution charges at current rates </FONT></B><SUP><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></B></SUP></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10,684,602)</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,357,455)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effect of additions and exclusions in the tax calculation:</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>773,285</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>764,876</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest on equity (paid and payable)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,241,955</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,139,102</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other </FONT><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>240,406</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,459,253)</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution for the period</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6,428,956)</FONT></B></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13,912,730)</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effective rate</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27.1%</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=3>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Current rates: (i) 25.0% for income tax; (ii) of 15.0% for the social contribution to financial and similar companies, and of the insurance industry, and of 20.0%, from September 2015 to December 2018, in accordance with Law n<SUP>o</SUP> 13,169/15; and (iii) of 9.0% for the other companies;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=3>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Basically, includes: (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate (45%) as shown; and (iii) the deduction incentives.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our income tax and social contribution expenses decreased by R$7,484 million in 2017 compared to 2016.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This decrease was primarily due to:</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(i) a decrease of R$8,162 million in income before tax; and (ii) the effects of additions and deductions on the calculation of taxes, as follows: (a) change in other amounts, </FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which went from an addition in the income tax and social contribution of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$3,459 million in 2016 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to an exclusion</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of R$240 million in 2017, primarily due to exchange rate variation of assets and liabilities, deriving from investments abroad, which is non-taxable/deductible. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This was mainly due to</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the 1.5% depreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar in 2017, as compared to 2016, there was a 16.5% appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar; and (c) the increase in the effect of interest on own capital, in the amount of R$103 million. For more information on income tax and social contribution, see Note 17 to our consolidated financial statements in &#8220;Item 18. Financial Statements.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net Income</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a result of the above, our net income attributable to controlling shareholders decreased by 4.5%, from R$17,894 million in 2016 to R$17,089 million in 2017. Our net income for the year also decreased by 3.8%, from R$17,992 million in 2016 to R$17,315 million in 2017.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Results of operations for the year ended December 31, 2016 compared with the year ended December 31, 2015 </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables set forth the principal components of our net income for 2016 and 2015, on a consolidated basis and by segment.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 56,662,989 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 55,636,042 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.8%</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net Impairment losses on loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(15,350,278)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,721,152)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest income </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>115,171,491 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 77,043,849 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>49.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest expense </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (124,578,746)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (108,355,156)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 31,905,456 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,603,583 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>232.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13,912,730)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 8,634,322 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,992,726 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,237,905 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1.3)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,894,249 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 18,132,906 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1.3)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>98,477 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>104,999 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(6.2)%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="37%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>49,156,109 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46,934,849 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.7%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,374,229 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,973,694 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10.0)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net Impairment losses on loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(18,829,460)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (16,479,985)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest income </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41,414,563 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15,639,366 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>164.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>75,664,123 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>66,345,008 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non&#8209;interest expense </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (54,448,727)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (46,839,516)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (71,473,806)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (63,805,032)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income taxes </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,292,485 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (745,286)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 9,564,546 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 8,513,670 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7,995,420)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,621,169 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,915,822)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,192,918)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,297,065 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,875,883 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(21.7)%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,648,724 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,320,752 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to controlling shareholders</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,293,766 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,874,609 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(21.7)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,550,662 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,215,765 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net income attributable to non-controlling interest</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,299 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,274 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>158.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>98,062 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>104,987 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(6.6)%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net interest income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The table below shows the main components of our net interest income before impairment of loans and advances for 2016 and 2015, on a consolidated basis and by segment:</FONT></P>

<a name="_bclFooter124"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>124</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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&nbsp; <A name="page_125"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader125"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>147,700,375 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>127,048,252 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (91,037,386)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (71,412,210)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,662,989 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>55,636,042 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.8%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>118,585,106 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>106,807,027 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (69,428,997)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (59,872,178)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>49,156,109 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>46,934,849 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.7%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>26,769,779 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22,076,041 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest and similar expense</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (21,395,550)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (16,102,347)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,374,229 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,973,694 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(10.0)%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our net interest income was attributable to changes in the average volume of interest-earning assets and interest-bearing liabilities, how much was attributable to changes in average interest rates and how much was attributable to variation to the effects of the appreciation/(depreciation) of the real for 2016 and 2015, respectively:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="45%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Increase/(decrease)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;earning assets and interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,444,190 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,725,776 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>263,365 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,366,345)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (453,498)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (862,854)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(50,898)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(51,018)</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,026,947 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,221,260 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (599,465)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our net interest income increased by 4.7% from R$46,935 million in 2015 to R$49,156 million in 2016. This increase was mainly due to an increase </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>average volume of business contributing </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$2,726 million to the result, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>as a result of: (i) a 12.7% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increase in the average balance of interest-earning assets, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increasing our revenues by R$12,199 million, mainly due to the increase of: (a) 10.5% in the average balance of loans and advances to customers; (b) 32.4% in the average balance of financial assets available for sale; and (c) 86.8% in the average balance of investments held to maturity, partially offset by: (ii) the 14.7% increase in the average balance of the interest-bearing liabilities, which impacted the results by R$9,473 million, in particular the increase of: (a) 55.3% in the average balance of funds from securities issued; and (b) 32.8% increase in the average balance of time deposits. In general, the increase in the average volume of business was mainly due to the consolidation of HSBC Brasil. This increase was partially offset by changes in the average interest rates</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which had a negative impact on</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> our </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>results</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of R$454 million. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The impact of the appreciation of the real on our net interest income was R$51 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our net interest income decreased by 10.0%, from R$5,974 million in 2015 to R$5,374 million in 2016. This reduction was mainly due to changes in average interest rates, impacting our results by R$863 million, primarily as a result of the increase in the average interest rate paid on our interest-bearing liabilities, from 10.3% in 2015 to 10.8% in 2016. This reduction was partially offset by an increase </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the average volume of business influenced by the consolidation of HSBC Brasil, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>contributing R$263 million to our result</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show, on a consolidated basis and by segment, the average balance of the principal components of our interest-earning assets and the average interest rates earned in 2016 and 2015:&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>125</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="51%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="51%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance of interest&#8209;earning assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>180,250,789 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>108,737,397 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>65.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>122,649,627 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 95,434,117 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>28.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 41,834,019 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 32,732,694 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,544,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>148,107,052 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,961,405 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 63,314,643 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,112,857 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>337,673,348 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,847,576 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 43,933,707 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other interest&#8209;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>722,571 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>640,098 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.9%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>992,923,479 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>830,573,056 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>19.5%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average interest rate earned </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.9%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="36%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average balance of interest&#8211;earning assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>30,557,643 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>26,586,105 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>149,325,995 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>81,851,926 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>82.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100,437,376 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>75,850,112 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,211,842 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>19,583,491 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.4%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12,485,593 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 6,682,957 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,348,426 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>26,049,737 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,544,635 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>148,107,052 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,987,562 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>63,087,209 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,991,407 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>47,806,666 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(62.4)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>373,112,828 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>337,649,092 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,847,576 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>43,933,707 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other interest&#8211;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>722,571 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>640,098 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>791,695,784 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>702,536,332 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.7%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>218,877,670 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>175,291,820 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Average interest rate </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.2%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.2%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.6%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information about average interest rates by type of assets, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Average balance sheet and interest rate data."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our interest and similar income was attributable to changes in the average volume of interest-earning assets; how much was attributable to changes in average interest rates and how much was attributable to variation to the effects of the appreciation/(depreciation) of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar, in each case comparing 2016 to 2015:</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

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<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016/2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Increase/(reduction)</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,462,631 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 12,199,018 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,680,563 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,220,354)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>169,334 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 13,152 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(590,154)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (590,273)</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,652,123 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 11,778,079 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,693,738 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income increased by 11.0%, from R$106,807 million in 2015 to R$118,585 million in 2016. This increase was largely due to changes in the average volume of business, which had a positive impact of R$12,199 million on our results, particularly in interest and similar income from: (a) loans and advances to customers; (b) financial assets available for sale; (c) compulsory deposits with the Central Bank; (d) loans and advances to banks; (e) investments held to maturity; and (f) financial assets held for trading. In the overall, the consolidation of HSBC Brasil increased the average volume of business. This increase was partially offset by changes in the average interest rate earned, from 15.2% in 2015 to 15.0% in 2016, primarily impacted by: (a) the average balance of financial assets available for sale; and (b) the appreciation of the Brazilian real, impacting our interest and similar income by R$166 million. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>126</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from loans and advances to customers increased by 10.7%, from R$61,846 million in 2015 to R$68,452 million in 2016. This increase is related to an increase: (i) of 10.5% in the average balance of our portfolio of loans and advances to customers, from R$337,649 million in 2015 to R$373,113 million in 2016, positively impacting our interest and similar income, in the amount of R$6,506 million. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The most featured transactions in the period were</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> housing loans, payroll deductible loans and credit card transactions; and (ii) in the average interest rate, contributing with R$100 million to our interest and similar income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from financial assets available for sale increased by 0.7%, from R$8,538 million in 2015 to R$8,600 million in 2016. This increase is related to an increase in the average balance of these transactions, from R$75,850 million in 2015 to R$100,437 million in 2016, contributing with R$2,387 million to our revenues, which was partially offset by a decrease in the average interest rate, from 11.3% in 2015 to 8.6% in 2016, impacting our results by R$2,325 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from compulsory deposits with the Central Bank increased by 23.5%, from R$4,587 million in 2015 to R$5,668 million in 2016. This increase was primarily due to the 27.1% increase in the average balance of these assets, from R$43,934 million in 2015 to R$55,848 million in 2016, positively impacting our interest and similar income by R$1,212 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from loans and advances to banks increased by 8.2%, from R$8,031 million in 2015 to R$8,689 million in 2016. This increase was primarily due to the 7.8% increase in the average balance of these assets, from R$63,087 million in 2015 to R$67,988 million in 2016, positively impacting our interest and similar income by R$626 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Interest and similar income from investments held to maturity increased by 89.4% from R$774 million in 2015 to R$1,465 million in 2016. This increase was mainly due to an increase in the average balance of these transactions, from R$6,683 million in 2015 to R$12,486 million in 2016, contributing with R$681 million to our revenues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from financial assets held for trading increased by 44.6%, from R$2,702 million in 2015 to R$3,906 million in 2016. This increase was due to: (i) an </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increase in the average interest rate, from 10.2% in 2015 to 12.8% in 2016, positively impacting our income by R$762 million; and (ii) a 14.9% increase in the average balance of these assets, from R$26,586 million in 2015 to R$30,558 million in 2016, positively impacting our interest and similar income by R$442 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar income from financial assets pledged as collateral increased by 7.2%, from R$20,270 million in 2015 to R$21,739 million in 2016. This variation was mainly due to an increase in the average interest rate, from 13.7% in 2015 to 14.4% in 2016, increasing our revenues by R$1,131 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The effect from the appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impacted our interest and similar income by R$590 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest and similar income increased by 21.3%, from R$22,076 million in 2015 to R$26,770 million in 2016. This increase was substantially due to changes in the average volume of transactions, contributing with R$4,681 million to our revenues, as result of the consolidation of HSBC Brasil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest and similar expenses</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The tables below show, on a consolidated basis and by segment, the average balance of the main components of our interest-bearing liabilities and the average interest rates paid on them in 2016 and 2015:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>127</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="57%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="43%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance of interest&#8209;bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621,904 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>93.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91,075,494 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111,471,035 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,978,162 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Obligations for repurchase agreements</FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232,718,923 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211,686,661 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65,927,057 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64,029,996 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151,629,726 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97,739,942 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,348,349 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,601,843 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance technical provisions and pension plans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>198,174,725 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156,922,463 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>26.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 907,074,035 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 744,656,465 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21.8%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average interest rate paid </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="60%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Average balance of interest&#8211;bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 621,941 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>93.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93,598,769 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91,075,494 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>2.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111,553,878 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,995,843 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>32.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253,043,296 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260,100,851 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>(2.7)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65,927,057 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64,029,996 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>3.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152,132,556 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97,942,610 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>55.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,348,349 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,601,843 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>35.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Insurance technical provisions and pension plans </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>-&nbsp;&nbsp; </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198,174,725 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156,922,463 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>26.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729,809,356 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636,368,578 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>14.7%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198,174,725 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156,922,463 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>26.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Average interest rate paid </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>9.5%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>9.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>10.8%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>10.3%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information on average interest rates by type of liability, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Average balance sheet and interest rate data."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis and by segment, how much of the increase in our interest and similar expenses was attributable to changes in the average volume of interest-bearing liabilities, how much was attributable to changes in average interest rates and how much was attributable to variation in the effects of the appreciation/(depreciation) of the real in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/U.S. dollar rate, in each case comparing 2016 and 2015:</FONT></P>

<DIV align=left>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016/2015</FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="56%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Increase/(reduction)</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average volume of interest&#8209;bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,018,441 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,473,242 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,417,198 </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to changes in average interest rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,145,990 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>622,832 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>876,005 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Due to Brazilian real appreciation/depreciation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(539,255)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (539,255)</FONT></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>- </FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net change </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 19,625,176 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 9,556,819 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,293,203 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest and similar expenses increased by 16.0% from R$59,872 million in 2015 to R$69,429 million in 2016. This increase primarily reflects: (i) an increase of 14.7% in the average volume of interest-bearing liabilities mainly influenced by the consolidation of HSBC Brasil, from R$636,369 million in 2015 to R$729,809 million in 2016, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impacting our expenses by</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> R$9,473 million, mainly due to the increase of: (a) 55.3% in the average balance of funds from securities issued, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impacting the expenses by </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$6,126 million; (b) 32.8% in the average balance of time deposits, impacting </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the expenses by R$2,109 million; and (c) 35.6% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the average balance of subordinated debt, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impacting the expenses by </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$1,654 million; and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(ii) the change in the average interest rate paid, from 9.4% in 2015 to 9.5% in 2016, impacting </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our interest and similar expenses</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> by R$623 million, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>mainly as a result of higher interest rates for time deposits, from 7.1% in 2015 to 7.8% in 2016, impacting the expenses by R$699 million. The effect of the appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>impacted our interest and similar expenses by R$539 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>128</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest and similar expenses increased by 32.9%, from R$16,102 million in 2015 to R$21,396 million in 2016. This increase primarily reflects the increase: (i) of 26.3% in the average balance of insurance technical provisions, impacting our expenses by R$4,417 million, influenced by the consolidation of HSBC Brasil; and (ii) in the average interest rate for insurance and pension plan technical provisions, from 10.3% in 2015 to 10.8% in 2016, increasing our expenses by R$876 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net impairment losses on loans and advances to customers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In view of conceptual differences between net impairment losses on loans and advances to customers under BR GAAP and IFRS, and to provide a better understanding of the information presented, we present below a reconciliation of those accounting practice differences, as well as the related analysis of the net impairment losses on loans and advances to customers under IFRS:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net Impairment losses on loans and advances</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Banking - BR GAAP</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(18,829,460)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(16,479,985)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 20.1pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Accounting Pratices Diferences (IFRS x BR GAAP)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,479,182 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;1,758,833 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97.8%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Consolidated - IFRS</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(15,350,278)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(14,721,152)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Main difference between accounting practices for net impairment losses on loans and advances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main difference between the accounting practice between BR GAAP (CMN Resolution No. 2,682/99), and IFRS (IAS 39), is the form of recognition and measurement of impairment losses on loans and advances. While the practice adopted by the Central Bank is provisioning based on a mix of future expected losses and incurred losses, under IFRS the recognition and measurement of impairment losses is based on actual losses incurred. For further information, see &#8220;Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Banking Regulations &#8211; Treatment of loans and advances&#8221; and Note 3.1 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows changes in our impairment on loans and advances, net impairment losses on loans and advances, loans recovered and loan charge-offs for the years ended 2016 and 2015,&nbsp;as well as our ratio of net impairment losses on loans and advances to loans and advances to customers (shown as a percentage of the average balance of our loans and advances to customers) in all cases based on consolidated financial information prepared in accordance with IFRS:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="58%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="42%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment provision of loans and advances at the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;21,132,677 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20.5%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net impairment losses on loans and advances</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,350,278 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;14,721,152 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan recoveries </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;5,507,507 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;4,144,879 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32.9%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loan charge&#8209;offs </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(21,532,150)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(14,543,504)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>48.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Impairment provision of loans and advances at the end of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2.6)%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Ratio of net impairment losses on loans and advances to average loans and advances to customers</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.2%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The balance of our impairment of loans and advances to customers decreased by 2.6%, from R$25,455 million in 2015 to R$24,781 million in 2016. This decrease was primarily due to </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the greater volume of loan charge-offs</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, from R$14,544 million in 2015 to R$21,532 million in 2016, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>highlighting the greater incidence of charge-offs of the renegotiated transactions</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. This decrease was partially offset by: (i) the increase of 4.3% in loss impairment of loans and advances, from R$14,721 million in 2015 to R$15,350 million in 2016; and (ii) the increase of 32.9% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in loan recoveries</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, from R$4,145 million in 2015 to R$5,508 million in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The balance of loans and advances to customers classified as due without reducing the recoverable amount increased by 3.4%, from R$326,364 million in 2015 to R$337,337 million in 2016. From this total, 96.4% of loans were rated "low risk." The impairment of loans and advances as a percentage of total loans and advances to customers changed from 6.9% in 2015 to 6.3% in 2016, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>highlighting the smaller loss allocated to the transactions of working capital</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, which decreased by R$3,094 million, from R$5,922 million in 2015 to R$2,828 million in 2016, primarily due to the decrease of 7.8% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in this type of loans and advances to customers. We emphasize that the volume of charge-offs in 2016 was 48.1% higher compared to 2015</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Calculations of impairment of loans and advances include an individual analysis of impaired loans and advances to customers, and an analysis of losses on loans and advances to individually non-significant customers, as follows:</FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment provision of loans and advances to customers individually relevant</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,575,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 5,302,200 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Impairment provision of loans and advances to customers not individually relevant</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18,205,839 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 20,153,004 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(9.7)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 24,780,839 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 25,455,204 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2.6)%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The increase of 4.3% in net impairment losses on loans and advances is related to the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>effects of the deceleration of economic activity in Brazil during the period. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We highlight the increase of R$9,831 million in the balance of impaired loans and advances to customers, mainly due to the increase of R$4,395 million in the balance of impaired loans and advances to customers that are overdue for more than 90 days, from R$14,820 million in 2015 to R$19,215 million in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our level of loan losses, defined as the amount of net charge-offs compared to the average balance of loans and advances to customers, including overdue loans, increased from 3.0% in 2015 to 4.1% in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our loans and advances to customers portfolio increased by 5.9% from R$370,324 million in 2015 to R$392,084 million in 2016, mainly influenced by the consolidation of HSBC Brasil. We highlight the increase of 15.6% in loans and advances to individuals, from R$147,860 million in 2015 to R$170,926 million in 2016, particularly in the following products: housing loans, payroll-deductible loans and credit cards. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that our impairment of loans and advances is sufficient to cover incurred losses associated with our portfolio.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Non-interest income </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show, on a consolidated basis and by segment, the principal components of our non-interest income for 2016 and 2015:</FONT></P>

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   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="57%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="43%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="43%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net fee and commission income</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,341,051 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17,820,670 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets and liabilities held for trading </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16,402,770 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(8,252,055)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(298.8)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets available for sale&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,341,400)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (671,810)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>99.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,027,122 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>58,760,780 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,699,725 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,528,051 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,042,223 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,858,213 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>66.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="57%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>115,171,491 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>77,043,849 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>49.5%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="60%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net fee and commission income</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,696,785 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19,195,003 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>651,482 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,497,890 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(56.5)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets and liabilities held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,918,934 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7,199,397)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(307.2)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,250,639 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (627,343)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on financial assets available for sale&nbsp; </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,417,647)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (370,947)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>282.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>805,051 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (353,679)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,027,122 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>58,760,780 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,538,058 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 1,358,047 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>168,691 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>166,865 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5,678,433 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,656,660 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>113.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 7,761,138 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 6,900,495 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.5%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41,414,563 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15,639,366 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>164.8%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>75,664,123 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>66,345,008 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest income increased by 164.8%, from R$15,639 million in 2015 to R$41,415 million in 2016. This increase was mainly due to: (i) net gain/losses of financial assets and liabilities classified as held for trading</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, from a loss of R$7,199 million in 2015 to a gain of R$14,919 million in 2016, largely due to </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>income obtained from derivative financial instruments, mainly due to the results deriving from futures contracts (which includes the hedge for investments abroad); (ii) the increase of 7.8% </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in n</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>et fee and commission income</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, from R$19,195 million in 2015 to R$20,697 million in 2016, due to an increase of: (a) 22.0% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in revenues related to checking accounts</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, mainly due to the improvement in the process of segmentation of customers and the increase in the business volume, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>as well as the effect of the consolidation of HSBC Brasil</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; (b) 6.4% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in revenues from credit cards, due to the increase of</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> 13.6% in the </FONT></P>

<a name="_bclFooter130"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>130</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



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&nbsp; <A name="page_131"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader131"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>traded financial volume, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which reached </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$159,172 million in 2016; as well as the 16.6% growth in the amount of transactions, which reached 1.8 billion in 2016, both partially impacted by the consolidation of HSBC Brasil; and (c) 22.9% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in revenues from managing consortia, mainly due to the greater volume of bids received; the increase in the average ticket; and the increase in billing on sales, whose active quotas went from 1,194 thousand in December 2015 to 1,334 thousand in December 2016; and (d) 12.9% in the revenues from collections, mainly due to the greater volume of processed documents, as well as the consolidation of HSBC Brasil; (iii) the increase of 13.3% in the result of equity in the earnings of associates and joint ventures</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, from R$1,358 million in 2015 to R$1,538 million in 2016, mainly due to, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>higher revenues from our associate Cielo S.A. (&#8220;Cielo&#8221;)</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and (iv) the increase in other non-financial income, principally as a result of: (a) higher revenues with the reversal of provisions for tax contingencies; and (b) the consolidation of HSBC Brasil. These events were partially offset by the increase in net losses on financial assets, from R$371 million in 2015 to R$1,418 million in 2016, primarily impacted by the recognition of impairment on fixed-income securities. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest income increased by 14.0%, from R$66,345 million in 2015 to R$75,664 million in 2016. This performance was due mainly to: (i) an increase of 10.7% in retained insurance premiums and pension plans income, from R$58,761 million in 2015 to R$65,027 million in 2016, mainly due to the increase in insurance premiums written, from R$55,921 million in 2015 to R$62,471 million in 2016; (ii) the net gains/losses on financial assets and liabilities held for trading, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which went</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> from a loss of R$627 million in 2015 to a gain of R$1,251 million in 2016, primarily due to the result of the revenue from fixed-rate securities; (iii) the net gains/losses on financial assets available for sale, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which went from a loss of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$354 million in 2015 to a gain of R$805 million in 2016. In 2015, the recognition of impairment losses on financial assets was R$289 million compared to R$28 million in 2016; and (iv) the increase of 12.5% in other non-interest income, largely due to the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reversal of provisions for tax contingencies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, to the value of R$1,082 million. </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Main difference between balances by segment and consolidated balances </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to the above explanations, we highlight below the main difference between our non-interest income by segment (according to BR GAAP) and our consolidated non-interest income (according to IFRS) for the year ended December 31, 2016:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net fee and commission income: </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the difference of R$1,007 million refers to: (i) the effective interest rate method in the amount of R$1,236 million; and (ii) the elimination and adjustments for other operations </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>that have reduced the adjustment by </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$229 million.</FONT></P>

<P style="MARGIN: 6pt 0in 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Non-interest expense</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>The following tables show, on a consolidated basis and by segment, the principal components of our non-interest expense for 2016 and 2015:</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(17,003,783)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(14,058,047)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Administrative expenses </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,149,563)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(13,721,970)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,658,413)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,942,003)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Changes in the insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(32,781,918)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(28,286,039)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained claims</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(24,542,433)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(21,724,043)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,547,008)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,253,193)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>150,757 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(3,523,095)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(104.3)%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest expense</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(27,046,385)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(20,846,766)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29.7%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (124,578,746)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (108,355,156)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0in; TEXT-INDENT: 0in" align=center></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.A. Operating Results</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="34%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Segment</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="66%" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance, Pension Plans and Capitalization Bonds</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% Change</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(15,733,611)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13,103,515)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20.1%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,387,935)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,217,211)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Administrative expenses </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,979,689)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13,076,913)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,331,349)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1,137,706)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,786,599)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2,752,946)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>37.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (365,656)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; (321,462)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.7%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Changes in the insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(32,781,918)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(28,286,038)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Retained claims</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(24,542,433)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(21,724,044)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,547,008)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,254,551)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>150,757 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,523,095)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(104.3)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other non-interest expense</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(20,099,585)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,383,047)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>39.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7,517,507)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(7,864,020)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4.4)%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(54,448,727)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(46,839,516)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(71,473,806)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(63,805,032)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banking</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Our non-interest expenses increased by 16.2%, from R$46,840 million in 2015 to R$54,449 million in 2016. This increase was mainly due to the increase of: (i) 20.1% in personnel expenses from R$13,104 million in 2015 to R$15,734 million in 2016, due to an increase in expenses from salaries, payroll charges and benefits as a result of: (a) an increase in salaries, in accordance with the respective 2015 and 2016 collective bargaining agreements; and (b) the effect of the consolidation of HSBC Brasil; (ii) 14.6% in administrative expenses, mainly due to: (a) the increased volume of business and services in the period, partially impacted by the effect of the </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>consolidation of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>HSBC Brasil; (b) contract adjustments; and (c) the effect of the advertising and marketing campaigns, mainly related to the "Rio 2016 Olympic and Paralympic Games," during the third quarter of 2016; (iii) 37.5% in depreciation and amortization expenses, mainly due to</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the amortization of goodwill related to the acquisition of HSBC Brasil in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016, in the amount of R$768 million; and</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(iv) 39.7% in other non-financial expenses, primarily impacted by: (a) provisions for guarantees provided, comprising sureties, letters of credit and standby letters of credit, in the amount of R$2,367 million in 2016; (b) greater expenses for legal contingencies, in the amount of R$1,408 million; and (c) higher tax expenses, in the amount of R$1,369 million partially offset by net gains/losses in foreign currency operations, primarily as a result of the appreciation of the Brazilian </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar in the period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Insurance, pension plans and capitalization bonds</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our non-interest expenses increased by 12.0%, from R$63,805 million in 2015 to R$71,474 million in 2016. This increase was mainly due to the increase of: (i) 15.9% in our expenses from variation of insurance and pension plan technical provisions from R$28,286 million in 2015 to R$32,782 million in 2016, mainly deriving from the increase of R$32,422 million in the volume of our technical provisions for the VGBL product, influenced by the consolidation of HSBC Brasil; and (ii) 13.0% in retained claims, mainly, in health insurance.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 5pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Income tax and social contribution</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We prepare the information about segments so that management can assess the performance and make decisions regarding the allocation of resources for investments and other purposes. The calculation of the income tax and social contribution, as required by the current Brazilian laws and regulations, is performed for each legal entity and disclosed on a consolidated basis. Consequently, there is no direct relationship with the presentation per segment.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management&#8217;s decisions for tax purposes are based on analysis by individual legal entities and on a consolidated basis; consequently, Management includes consolidated data, which were discussed and analyzed, as a relevant disclosure in relation to the decision-making process.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>132</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader133"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, on a consolidated basis, the breakdown of our income tax and social contribution charges:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="64%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Consolidated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income before income tax and social contribution</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,905,456</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,603,583</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total income tax and social contribution charges at current rates </FONT></B><SUP><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></B></SUP></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(14,357,455)</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(4,321,612)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effect of additions and exclusions in the tax calculation:</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Equity in the earnings of associates and joint ventures</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>764,876</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>687,623</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest on equity (paid and payable)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,139,102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,305,695</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net tax credit of deferred liabilities <SUP>(2)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 2,341,220 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other </FONT><SUP><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3,459,253)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,621,396</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Income tax and social contribution for the period</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(13,912,730)</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,634,322</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Effective rate</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43.6%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(89.9)%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=3>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Current rates: (i) 25.0% for income tax; (ii) of 15.0% for the social contribution to financial and similar companies, and of the insurance industry, and of 20.0%, from September 2015 to December 2018, in accordance with Law n<SUP>o</SUP> 13,169/15; and (iii) of 9.0% for the other companies;</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=3>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n&#186;</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,169/15; and</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="100%" colSpan=3>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Basically, includes: (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate (45%) as shown; and (iii) the deduction incentives.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc415063377"></A><A name="_Toc292442701"></A><A name="_Toc288278522"></A><A name="_Toc288271595"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our income tax and social contribution expenses increased by R$22,547 million in 2016 as compared to 2015.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This increase was primarily due to:</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(i) an increase of R$22,302 million in income before income tax and social contribution; and (ii) the effects of additions and deductions on the calculation of taxes, as follows: (a) change in other amounts, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>which went from an exclusion in the income tax and social contribution of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$7,621 million in 2015 </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>to an addition </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of R$3,459 million in 2016, primarily due to exchange rate variation of assets and liabilities, deriving from investments abroad, which is non-taxable/deductible. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This was due, mainly</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, the 16.5% appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar in 2016, as compared to 2015, there was a 47.0% depreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar; (b) constitution of tax credit, in the amount of R$2,341 million in 2015, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>deriving from the restatement of deferred tax assets and liabilities</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, due to the higher percentage for social contribution, according to Law No. 13,169/15, which was 15% until August 2015 and, for the period between September 2015 and December 2018, changed to 20.0%; partially offset by (c) to the increase in the effect of interest on own capital, in the amount of R$833 million. For more information on income tax and social contribution, see Note 17 to our consolidated financial statements in &#8220;Item 18. Financial Statements.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Net Income</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a result of the above, our net income attributable to controlling shareholders decreased by 1.3%, from R$18,133 million in 2015 to R$17,894 million in 2016. Our net income for the year also decreased by 1.3%, from R$18,238 million in 2015 to R$17,993 million in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577599"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.B. Liquidity and Capital Resources</FONT></B></H1></DIV>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Asset and liability management</FONT></I></B></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our general policy on asset and liability management is to manage interest rate, liquidity, foreign exchange and maturity risks in order to maximize our net interest income and our return on assets and equity, in light of our internal risk management policies, and maintain adequate levels of liquidity and capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As part of our asset and liability management, we seek to avoid material mismatches between assets and liabilities by matching, to the extent possible, the maturity, currency and interest rate structure of loans we make with terms of the transactions under which we fund these loans. Subject to our policy constraints and the limits established by our Board of Directors, we occasionally take mismatched positions in relation to interest rates, maturities and, in more limited circumstances, foreign currencies, when we believe such positions are justified in view of market conditions and prospects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We monitor our asset and liability positions in accordance with Central Bank requirements and guidelines. Our Treasury Executive Committee for Asset and Liability Management meets on a weekly basis to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>evaluate action strategies relating to asset and liability management, within the limits established, based on an analysis of the political-economic scenarios, at national and international level;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>monitor and countersign the pricing strategies of asset, liability and derivative operations with our clients;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>define internal prices of transfer of resources (Funds Transfer Price - FTP) of liabilities and assets in local and foreign currency;</FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>approve the proposal on the limit of tolerance for exposure to risks to be submitted to the approval of the COGIRAC and the Board of Directors; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>monitor and countersign results, strategies, behaviors and risks of mismatch and indexes maintained by us and managed by out Treasury Department.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In making such decisions, we evaluate not only our exposure limits for each market segment and product, but also market volatility levels and the extent to which we are exposed to market risk through interest, maturity, liquidity and currency mismatches. We also consider other potential risks, as well as market liquidity, our institutional needs and perceived opportunities for gains. Our Treasury Executive Committee for Asset and Liability Management holds extraordinary meetings as required in response to unexpected macroeconomic changes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, we receive daily reports on our mismatched and open positions, while our Treasury Executive Committee for the Asset and Liability Management assesses our risk position every two weeks.</FONT></P>

<H4 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Liquidity and funding</FONT></I></B></H4>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have policies, procedures, metrics and limits in place aimed at controlling liquidity risks. The components of our Short-Term Liquidity Ratio (&#8220;LCR&#8221;) are in line with best market practices as well as Basel III requirements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Treasury Department acts as a support center for our different business segments by managing our funding and liquidity positions, and executing our investment objectives in accordance with our asset and liability management policies. We are also responsible for setting rates for our different products, including exchange and interbank transactions. Our Treasury Department covers any funding shortfall by borrowing in the interbank market. It seeks to maximize efficient use of our deposit base by investing any surpluses in liquid instruments in the interbank market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have used our excess liquidity to invest in Brazilian government securities and expect to continue doing so, subject to regulatory requirements and investment considerations. Our principal sources of funding are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>demand, savings, and time deposits, as well as interbank deposits; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>obligations for repurchase agreements, borrowings and onlendings, funds from securities issued and subordinated debt, part of which is denominated in foreign currencies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the average balance and average real interest rates of our sources of funding (interest-bearing, as well as non-interest-bearing) for the periods indicated measured using month-end balances:</FONT></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="34%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="22%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="22%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="22%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of total</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average balance</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>% of total</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average rate</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest-bearing liabilities</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,397,862 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,205,451 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>621,904 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>96,511,751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>93,598,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>91,075,494 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>122,959,605 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>111,471,035 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>83,978,162 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>238,407,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>232,718,923 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>21.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>211,686,661 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>58,617,611 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>65,927,057 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5.9%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>64,029,996 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7.3%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>138,281,213 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>151,629,726 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>97,739,942 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>52,065,114 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.7%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>52,348,349 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>38,601,843 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4.4%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>226,765,103 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>198,174,725 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>156,922,463 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total interest-bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>935,005,956 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>84.6%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.1%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>907,074,035 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>83.7%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>744,656,465 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>85.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.6%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Non-interest-bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>31,014,556 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,645,961 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>26,969,963 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other non-interest-bearing liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>138,586,108 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>143,993,002 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>99,995,194 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total non-interest-bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>169,600,664 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>176,638,963 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16.3%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>126,965,157 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14.6%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,104,606,620 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.8%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,083,712,998 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>871,621,622 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8.2%</FONT></B></P></TD></TR></TABLE></DIV>

<P><FONT face=Calibri></FONT></P></DIV></DIV>

<P></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Deposits are our most important source of funding, accounting for 22.8% of average total liabilities in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2017, compared to 22.0</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>23.2</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>% in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2015.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Our deposits balance over these years progressed in the following manner:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in 2016, the average balance of our deposits increased by 17.9% in comparison to 2015, mainly due to the increase of 32.7% in the average balance of our time deposits and 21.0% in our demand deposits; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in 2017, the average balance of our deposits increased by 5.4% in comparison to 2016, mainly due to the increase of 10.3% in the average balance of our time deposits. </FONT></P>

<a name="_bclFooter134"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>134</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_135"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader135"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=#000000 face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=#000000 face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=#000000 face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Obligations for repurchase agreements, borrowings and onlendings and funds from securities issued represent our main sources of funding, accounting for 39.4% of total average liabilities in 2017, compared to 41.5% in 2016 and 42.8% in 2015. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, as of the dates indicated, our sources of funding and liquidity, as well as other non-interest-bearing liabilities:</FONT></P>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="58%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December&nbsp;31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt">

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12pt"></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interbank deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,168,625 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>588,872 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 466,448 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Savings deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,332,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 97,088,828 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 91,878,765 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>125,617,424 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>103,137,867 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 79,619,267 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Obligations for repurchase agreements</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>233,467,544 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>241,978,931 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 222,291,364 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Borrowings and onlendings</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 49,291,007 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 58,196,002 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 70,337,884 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>135,174,090 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 20px" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>151,101,938 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 109,850,047 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,179,401 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 52,611,064 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 50,282,936 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>239,089,590 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>215,840,000 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 170,940,940 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total interest-bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>938,320,378 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>920,543,502 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 795,667,651 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Demand deposits </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 34,088,616 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 33,420,111 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 23,819,783 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other non-interest-bearing liabilities</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>134,250,742 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>132,586,836 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 116,301,326 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total non-interest-bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>168,339,358 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>166,006,947 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 140,121,109 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,106,659,736 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,086,550,449 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 935,788,760 </FONT></B></P></TD></TR></TABLE></DIV>

<P></P>

<P></P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Deposits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Deposits accounted for 24.0% of total liabilities as of December 31, 2017. Our deposits consist primarily of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>-denominated, interest-bearing time and savings deposits and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>-denominated, non-interest-bearing demand deposits. For additional information regarding our deposits, see "Item 4.B. Business Overview &#8211; Selected Statistical Information &#8211; Average deposit balances and interest rates."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Obligations for repurchase agreements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Obligations for repurchase agreements consist mainly of funds we obtained from banks in the market by selling securities with agreements to repurchase. As of December 31, 2017, we had obligations for repurchase agreements in the amount of R$233,468 million, a decrease of R$8,511 million compared to the balance in December 31, 2016, which was R$241,979 million. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Borrowings and onlendings</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Borrowings consist primarily of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>funding from</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> lines obtained from banking correspondents for import and export financings, as well as issuances of short-term debt securities. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our access to this source of resources has been continuous, and funding occurs with rates and terms according to market conditions</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Onlendings consist primarily of funds borrowed for local onlending, in which we borrow from Brazilian governmental agencies and entities to make loans to Brazilian entities for investments in facilities, equipment and farming, among others. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2016, the balance of our borrowings and onlendings totaled R$58,196 million, a decrease of R$12,142 million compared to December 31, 2015. The decrease was mainly due to: (i) a decrease of R$9,961 million in borrowings and onlendings denominated in, or indexed to, foreign currencies, which balance was from R$32,119 million in 2015 to R$22,158 million in 2016, partially as a result of the 16.5% appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> against the U.S. dollar in the period; (ii) the decrease in the funds raised via borrowings and onlendings in the country, mainly through FINAME operations; and offset by: (iii) the increase in the volume of funds raised through BNDES operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the balance of our borrowings and onlendings totaled R$49,291 million, a decrease of R$8,905 million compared to December 31, 2016. The decrease was mainly due to: (i) a decrease of R$3,639 million in borrowings and onlendings denominated in, or indexed to, foreign currencies, which balance was from R$22,158 million in 2016 to R$18,519 million in 2017; (ii) the decrease in the funds raised via borrowings and onlendings in the country, mainly through FINAME and BNDES operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funds from securities issued</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funds from securities issued mainly consist of: (i) financial notes (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>letras financeiras</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>); (ii) real estate credit notes; (iii) agribusiness notes (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>letras de agroneg&#243;cio</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>); (iv) euronotes; and (v) securities issued through securitization.</FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2016, our funds from securities issued totaled R$151,102 million reflecting an increase of R$41,252 million from December 31, 2015. The increase in our funds from securities issued was mainly influenced by: (i) the increase of R$36,821 million in funds from the issuance of financial notes; (ii) the increase of R$6,732 million in real estate credit notes; and (iii) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the consolidation of HSBC Brasil</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and partially offset by: (iv) a lower volume of operations abroad, in the amount of R$3,709 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, our funds from securities issued totaled R$135,174 million reflecting a decrease of R$15,928 million from December 31, 2016. The decrease in our funds from securities issued was mainly influenced by: (i) the decrease of R$14,943 million in funds from the issuance of financial notes; (ii) the decrease of R$2,831 million of operations abroad; and partially offset by: (iii) the increase of R$1,857 million in agribusiness notes.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Subordinated debt</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The subordinated debts totaled R$52,611 million in December 2016, a 4.6% increase, or R$2,328 million compared to 2015, primarily due to the issuance of new subordinated debts in the period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The subordinated debts totaled R$50,179 million in December 2017, a 4.6% decrease, or R$2,432 million compared to 2016, primarily due to the maturity of subordinated debts in the period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sources of additional liquidity</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>From the implementation of the New Brazilian Payment System in April 2002, the Central Bank has offered a credit line from the portfolio of government securities issued by the National Treasury to provide liquidity to financial institutions, which is defined as re-discount (or &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Redesconto</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221;). This line can be used in the &#8220;intra-day&#8221; condition, or for a longer term negotiated with the Central Bank, which discloses the differentiated prices for the acceptance of these securities as collateral.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>There is also a traditional re-discount line, where financial institutions offer assets represented by credit transactions or illiquid securities. In this case, the institution will open formal proceedings with the Central Bank, presenting the reasons for the request, projected cash flow, liquidity recovery plan, as well as detailing the assets to be re-discounted and the proposed payment flow to the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank, upon analysis, will decide whether or not to release the liquidity line, costs, and other measures deemed necessary.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#222222 face=Arial,sans-serif>Bradesco has never used these liquidity resources.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cash flow</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, 2016 and 2015, our cash flow was primarily affected by our business strategy and alterations in the Brazilian economic environment. The following table shows the principal variations in cash flows during the periods indicated:</FONT></P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="55%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For the year ended December 31,</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net cash provided by (used in) operating activities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>35,551,788 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;53,959,218 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(61,354,165)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net cash&nbsp; provided by (used in) investing activities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(18,229,963)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;9,152,341 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(11,961,302)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net cash provided by (used in) financing activities </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(43,304,122)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(23,524,819)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;12,994,265 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Net increase (decrease) in cash and cash equivalents </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;</FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(25,982,297)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;39,586,740 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;(60,321,202)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2017</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, we had a net decrease of R$25,982 million in cash and cash equivalents due to net cash used in financing activities, in the amount of R$43,304 million; and investing activities, in the amount of R$18,230 million. These decreases were partially offset by the net increase in cash&nbsp;provided by our operating activities, in the amount of R$35,552 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;In 2017, cash provided by </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our operating activities, in the amount of R$35,552 million, is related to: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;our income before tax, in the amount of R$23,744 million and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>adjustments of reconciliation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$56,901 million, totaling R$80,645 million, partially offset; and (ii) variations in asset and liability, in the amount of R$45,093 million, highlighting: (a) the increase, in the amount of R$59,579 million, of loans and advances to clients; (b) growth of financial assets for trading, in the amount of R$23,089; (c) the decrease, in the amount of R$11,556 million, in technical reserves from insurance and pension plans; (d) an increase in Central Bank compulsory deposits, in the amount of R$8,678 million; and (e) income tax and social contribution paid, in the amount of R$8,575 million; partially offset by </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>interest received/paid</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>136</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>R$34,489 million and increase of deposits from clients, in the amount of R$36,854 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, c</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ash provided by our investing activities, resulted primarily from (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the net acquisition/disposal of financial assets available for sale, in the amount of R$31,427 million; (ii) acquisition/disposal of property, equipment and intangible assets, in the amount of R$5,197 million, partially offset by</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: (iii) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>cash resulting from the maturity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, and investments held to maturity</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$4,219 million; and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(vi) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>the receipt of interest and dividends</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$12,819 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, cash used in our financing activities is </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>principally a </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>result of: (i) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest paid and interest on capital and dividends payment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$30,978 million; (ii) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>costs associated with the issuance of securities, net of payment, in the amount of R$10,257 million</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and (iii) the payment of subordinated debt, in the amount of R$8,666 million, partially offset by the issuance of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>subordinated debt, in the amount of R$6,595 million.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2016</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2016, we had a net increase of R$39,587 million in cash and cash equivalents due to net cash provided by operating activities, in the amount of R$53,959 million; and investing activities, in the amount of R$9,152 million. These increases were partially offset by the net decrease in cash used in our financing activities, in the amount of R$23,525 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;In 2016, cash provided by </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our operating activities, including adjustments to income, resulted primarily from (i) interest paid/received</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$25,777 million; (ii) lower compulsory deposits with the Central Bank </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>in the amount of R$11,651 million; (iii) a reduction in loans and advances to financial institutions, in the amount of R$10,368 million; (iv) a decrease in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial assets held for trading, in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the amount of R$9,700 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>million; and (v) variation in insurance technical provisions and pension plans, in the amount of R$32,782 million.&nbsp; These events were partially offset by an increase: (i) in loans and advances to customers, in the amount of R$49,649 million; and (ii) in financial assets held for trading, in the amount of R$40,428 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>C</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ash provided by our investing activities, resulted primarily from (i) interest received in the amount of R$12,668 million; and (ii) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the net acquisition/disposal of financial assets available for sale, in the amount of R$7,428 million. These events were partially offset by: (i) the acquisition of subsidiaries, net of cash and cash equivalents paid/received, in the amount of R$7,189 million; and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(ii) the acquisition of fixed assets used, equipment and intangible assets in the amount of R$5,123 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cash used in our financing activities is </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>principally a </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>result of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest paid and interest on capital and dividends payment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in the amount of R$26,116 million; partially offset by the issuance of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>subordinated debt, in the amount of R$3,787 million.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2015</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2015, we had a net decrease of R$60,321 million in cash and cash equivalents due to net cash from operating activities, in the amount of R$61,354 million; and investing activities, in the amount of R$11,961 million. These decreases were partially offset by net cash provided by our financing activities, in the amount of R$12,994 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2015, cash used in our operating activities resulted primarily from an increase in: (i) financial assets held for trading in the amount of R$80,159 million; and (ii) loans and advances to customers in the amount of R$95,026 million. These events were partially offset by: (i) a net decrease in funds from financial institutions in the amount of R$40,729 million; (ii) the receipt/payment of interest, in the net amount of R$23,901 million; (iii) a decrease in financial liabilities held for trading, in the amount of R$16,030 million; and (iv) the variation of technical provisions for insurance and pension plans, in the amount of R$28,286 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The cash used in our investing activities resulted principally from: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the net acquisition/disposal of financial assets available for sale, in the amount of R$22,007 million; and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(ii) the acquisition of property, equipment and intangible assets in the amount of R$4,154 million. These events were partially offset by interest received in the amount of R$13,033 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The cash generated by our financing activities </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>principally </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>resulted from: (i) funds from securities issued in the amount of R$68,385 million; and (ii) issuance of subordinated debt, in the amount of R$11,304 million. These events were partially offset by the: </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(i) payment of funds from securities issued in the amount of R$49,218 million; (ii) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>payments of interest on equity and dividends in the amount of R$5,008 million; (iii) interest paid, in the amount of R$11,094 million; and (iv) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>payment of subordinated debt, in the amount of R$1,271 million.</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Capital compliance - Basel III </FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The G20's December 2010 conference voted to institute a package of measures (known as "Basel III") that had been proposed by the Basel Committee on Banking Supervision to remedy deficiencies revealed by the recent economic crisis. The purpose of this reform is to enhance capital and liquidity management rules for financial institutions, thus strengthening the banking sector and dampening the impact of financial crises and their consequences for the real economy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The first measure requires financial institutions to strengthen their capital levels. Common equity primarily comprises share capital (non-redeemable non-cumulative common and preferred shares), plus retained earnings, less amounts related to regulatory adjustments (tax credits, goodwill paid on acquisition of investments and deferred fixed assets, among others). After allowing for all deductions, Basel III will require banks to hold: (i) a common equity ratio of at least 4.5%; (ii) a Tier I capital ratio of at least 6.0%; and (iii) a minimum total capital ratio of 8.0%. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2011, the Basel Committee on Banking Supervision </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(&#8220;BCBS&#8221;) </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>published a document known as the "January 13 Annex" in which it extended Basel III rules with additional requirements applicable to Tier 1 and 2 Capital. Under the January 13 Annex rules, a capital instrument issued by a bank must include a provision enabling the competent regulatory body to either cancel this instrument, or convert it to common shares on the occurrence of a "trigger event." A "trigger event" is whichever of the following occurs first: (i) a decision that a cancellation is necessary, without which the bank would become insolvent; and (ii) the decision to make a public capital injection, or equivalent subsidy, without which the bank would become insolvent. These additional requirements will apply to all instruments issued after January 1, 2013; otherwise, any qualified instruments issued before that date and which do not meet the additional requirements (although meeting other requirements as of the date of the issuance) will be gradually deducted from capital measurement for a period of ten years as of 2013.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In June 2011, the BCBS</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>released the report</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8220;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial\,italic>Basel III: A global regulatory framework for more resilient banks and banking systems &#8211; revised,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221; as an international regulatory response to the 2008 financial and banking crisis. The revised version of Basel III regulations aims at improving the quality and quantity of financial institutions capital, with the purpose of making the financial system more resilient and reducing risks and costs. This Accord reflects a continuing change towards the improvement of the prudential structure applicable to financial institutions, with the main elements being the regulatory capital and the amount of allocated capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Basel III recommendations stipulate altered capital requirements for counterparty credit risk, both for the standard approach and for internal risk rating based approaches (&#8220;IRBs&#8221;), in order to ensure inclusion of material risks in capital structure.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Basel III Accord recommends implementation of a leverage ratio as a supplementary capital measure. This ratio, together with the Basel Ratio, aims to limit a financial institutions&#8217; risk exposure. It also assesses leverage through the ratio between Tier I capital and book value assets plus off-balance exposure (overdraft facilities, sureties, guarantees and derivatives).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Furthermore, in order to determine minimum requirements for quantitative liquidity of financial institutions, Basel III proposes two liquidity ratios: a short-term and a long-term one. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The purpose of the short-term liquidity ratio (Liquidity Coverage Ratio, or &#8220;LCR&#8221;) is to show that institutions maintain sufficient high-liquidity funds to withstand a one-month financial stress scenario. The purpose of the long-term liquidity ratio (Net Stable Funding Ratio, or &#8220;NSFR&#8221;) is to encourage institutions to finance their activities from more stable sources of funding. Basel III has set forth the requirement of a ratio of more than 100% for the LCR, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with a minimum value of 60% in 2015 and an increase of 10 percentage points </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>per annum</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> until it reaches the minimum of 100% </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>from January 2019 and the NSFR from January 2018.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2017, the BCBS approved the final reforms of Basel III: Finalizing post &#8211; crisis reforms &#8211; BIS. The reforms had two stages, the first one contemplated: (i) improving the quality of the regulatory capital; (ii) raise levels of capital; (iii) improvement of the measurement and weight of risks, including global standards of market risk, counterparty credit risk and securitization; (iv) aggregation of macro-prudential elements, such as capital buffers in the regulatory framework; (v) restriction for the excessive leverage of banks and (vi) introduction of the indicators of control of liquidity risk. The second step complemented the overall regulatory improvements, aiming to restore credibility in the calculation of risk-weighted assets (RWA) and allow greater comparability between financial institutions by means of: (i) increase of the sensitivity to the risk of standardized approaches for credit risk, credit valuation adjustment (CVA) and operational risk; (ii) restriction for the use of the internal model, with limits on certain parameters used to calculate the capital </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>requirements for credit risk and removal of the use of approaches of the internal model for the risk of CVA and operational risk; (iii) introduction of a leverage ratio buffer for important global banks (G-SIBs); and (iv)&nbsp; replacement of the existing standard in Basel II with standard more sensitive to risk</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazil has been a member of the BCBS since late 2009 and has adopted Basel III proposals. The Central Bank issued Notice No. 20,615/11 on preliminary guidelines and schedules for implementing recommendations on capital structure and liquidity requirements. According to this communication, the regulator intended to bring forward the implementation of several measures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In June 2011, CMN published Resolution No. 3,988/11, which states that the Brazilian financial institutions should implement a capital management structure compatible with the nature of their operations, the complexity of the products and services offered and their risk exposure. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>This Resolution was revoked by CMN Resolution No. 4,557/17, which established a series of rules on the subject and that details the operation of the structure of continuous and integrated management of risks and structure for the ongoing management of capital. According to the rule, the management structures must be: (i) compatible with the business model, with the nature of the operations and with the complexity of the products, services, processes and activities of the institution; (ii) proportional to the size and relevance of exposure to risks, according to the criteria defined by the institution; (iii) appropriate to the risk profile and systemic importance of the institution; and (iv) capable of assessing the risks arising from macroeconomic conditions and markets in which the institution operates.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Capital management is defined as a continuous process of (i) monitoring and controlling the financial institution&#8217;s capital; (ii) calculating the capital need in view of the risks to which the financial institution is exposed to; and (iii) planning goals and capital requirements considering the strategic objectives of the institution. Financial institutions shall disclose to the general public a report describing its capital management structure at least on an annual basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the Central Bank's preliminary rules, Brazil would follow the international schedule for gradually adopting capital requirements and definitions over the coming years. The original schedule proposed by the Central Bank was planned to begin on January 2013. However, it was postponed to March 2013 and the final term for the implementation of the referred rules is January 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Provisional Measure No. 608/13, enacted in February 2013, sets forth the regulatory measures that Brazil has been adopting to adhere to the recommendations of Basel III, which was converted into Law No. 12,838/13. This rule changes the provision for capital to be recognized by financial institutions, addressing presumed credit and credit securities and instruments issued by financial institutions to comprise their Capital. It also states that the distribution of dividends to shareholders of financial institutions is subject to compliance with the prudential rules established by CMN.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2013, the Central Bank published four Resolutions and 15 Circulars, by way of which it implemented the recommendations from the BCBS. In line with international recommendations and current practice, the minimum capital level was determined as a percentage of risk-weighted assets. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with the rules set forth by the CMN Resolution No. 4,192/13, the Capital of a financial institution consists of Tier I Capital plus Tier II Capital and is used when setting its operating limits. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tier I Capital is aimed at helping the bank remain solvent, that is, remain a going concern. Tier II Capital is contingent capital, subject to conversion into equity in case of insolvency. When Basel III rules came into effect, Tier I Capital was broken down into two categories: Common equity, comprising mainly by shares and reserves; and Additional Capital, comprising mainly instruments that are analogous to hybrid capital and debt instruments. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN Regulations that introduced Basel III rules in Brazil are stricter and more comprehensive when defining instruments eligible for inclusion in each capital category and set forth the deductions of some items, from Common equity, Additional Capital and Tier II Capital. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Following the recommendations of Basel III, the CMN Resolution No. 4,193/13 introduced the Additional Common Equity, comprised by the: Common Equity Conservation Buffer, Common Equity Countercyclical Buffer (&#8220;ACCPBrasil&#8221;), and Common Equity Systemically Importance Buffer. Under this Resolution, the value of the Common Equity Conservation Buffer and the ACCPBrasil will gradually increase, starting from 0.625% as from January 2016 and reaching up to 2.5% as from January 2019. The Common Equity Systemically Importance Buffer will gradually increase from 0.5% as from January 2017 to up to 2.0% as from January 2019. Moreover, the Central Bank is to determine the calculation methodology for the ACCPBrasil and the Common Equity Systemically Importance Buffer. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank Circular No. 3,768/15 established the methodology for calculating the Additional Portion of Systemic Importance of the Principal Capital, which corresponds to the multiplication between the assets weighted by risk and the annual factor of systemic importance ("FIS"). The value of the FIS, in turn, is defined based on the ratio between the value of the total exposure and the value of the GDP, considering the following gradation: (i) if </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the reason for total exposure/GDP is less than 10.0%, the value of the FIS is zero; (ii) if the reason for total exposure/GDP is equal to or greater than 10.0% and less than 50.0%, the FIS will vary from 0.25% from January to December 2017, and 1.0% from January 2019; and (iii) if the reason for total exposure/GDP is greater than 50.0%, the FIS will vary from 0.5% from January to December 2017, and 2.0% from January 2019. Now according to the Central Bank Circular No. 3,769/15, the amount of the ACCPBrasil must not exceed 1.25% of risk-weighted assets, in the period between January and December 2017. In addition, Article 3 of this same circular, established that the value of ACCPBrasil is equal to 0%, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>thus remaining subject to subsequent revaluations of the regulator</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under normal market conditions, financial institutions must hold excess capital in relation to the minimum requirements in an amount greater than additional Common Equity, as defined. Failure to comply with additional Common Equity rules will lead to restrictions affecting distribution of dividends, bonuses, earnings, profit sharing and incentive compensation geared to the performance of institutions&#8217; managements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In October 2015 the CMN Resolution No. 4,401/15 came into effect. It defines the Leverage Ratio ("LCR") as the ratio between the high liquidity assets and the total cash outflows foreseen for a 30-day period under stress conditions. The main purpose of the LCR is to ensure the existence of a minimum number of net assets in normal market conditions to be used in periods of higher shortage or necessary liquidity in order to maintain the business ongoing and insure the stability of the financial system.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The LCR applies to financial institutions with total assets over R$100.0 billion or which are part of a prudential conglomerate with a higher number of total assets. The minimum limit needs to be supervised on a daily basis by the financial institutions in periods of lack of financial stress.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In relation to liquidity risk, the</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> CMN and the Central Bank</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>published </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the Resolution No. 4,616/17 and the Circular No. 3,869/17 about the index of Long-Term Liquidity Risk (NSFR) </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>which establish, respectively, the minimum limit/compliance conditions</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and the methodology for calculation and disclosure of information to the market. Both rules will be in effect</FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#222222 face=Arial,sans-serif> from on October 10, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the rule currently in effect, CMN Resolution No. 4,193/13, Brazilian financial institutions must hold a capital base (Regulatory Capital - &#8220;RC&#8221;) of 8.625% or more of total RWA (Basel ratio) from January 2018 to December 2018 and calculated using specific criteria determined by the Central Bank. The calculation of the RC is subject to various deductions, including weighting factors that vary according to the nature of the asset. As of December 31, 2017, our Basel ratio was 17.1% of total RWA, which is higher than the 10.75% level required by the Central Bank until December 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our capital positions as a percentage of total risk-weighted assets.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>As of December 31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>In % </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Basel III <BR>Prudential Consolidated</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Tier I Capital </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.7%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Common Equity </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.2%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.7%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Additional Capital</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>0.8%</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total Ratio</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17.1%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15.4%</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16.8%</FONT></B></P></TD></TR></TABLE>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P></P><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Capital Management</FONT></I></B></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Capital Management structure aims to provide conditions to the follow-up and control of our capital, thus contributing to the achievement of the strategic goals established, through the accurate planning of the capital sufficiency. In addition to the Executive Committees and a Non-Statutory Committee, which support our Board of Directors and our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in the decision-making process, we have an area responsible for Capital Management reporting to the Planning, Budget and Control Department, and which operates together with the Integrated Risk Control Department, affiliated companies, business areas and our various support areas.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The capital plan, which comprehends a prospective vision of at least three years, is prepared on an annual basis, and is approved by our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and our Board of Directors, continually monitored and controlled by the capital management area. Any threats and opportunities, growth and market share targets, as well as projected capital needs, are included in the preparation of the plan to cover risks, as well as the capital held by us. In addition, the internal capital adequacy assessment process (ICAAP) provides conditions for the assessment of sufficiency of capital, taking into account different scenarios (baseline and stress) and allows for the anticipation of capital and contingency activities to be adopted for the respective </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>140</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>scenarios.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Interest rate sensitivity</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management of interest rate sensitivity is a key component of our asset and liability policy. Interest rate sensitivity is the relationship between market interest rates and net interest income due to the maturity or re-pricing characteristics of interest-earning assets and interest-bearing liabilities. For any given period, the pricing structure is considered balanced when an equal amount of these assets or liabilities matures or re-prices in that period. Any mismatch of interest-earning assets and interest-bearing liabilities is known as a gap position. A negative gap denotes <FONT style="FONT-SIZE: 10pt" face=Arial>loss </FONT>sensitivity and normally means that a decline in interest rates would have a negative effect on net interest income. Conversely, a positive gap denotes <FONT style="FONT-SIZE: 10pt" face=Arial>gain </FONT>sensitivity and normally means that a decline in interest rates would have a positive effect on net interest income. These relationships can change significantly from day to day as a result of both market forces and Management decisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our interest rate sensitivity strategy takes into account:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>rates of return;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the underlying degree of risk; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>liquidity requirements, including minimum regulatory banking reserves, mandatory liquidity ratios, withdrawal and maturity of deposits, capital costs and additional demand for funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We monitor our maturity mismatches and positions and manage them within established limits. The positions are analyzed and reconsidered every second and fourth Friday of each month in our Treasury Executive Committee for Asset and Liability Management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the maturities of our interest-earning assets and interest-bearing liabilities as of December 31, 2017 and may not reflect interest rate gap positions at other times. In addition, variations in interest rate sensitivity may exist within the re-pricing periods presented due to differing re-pricing dates. Variations may also arise among the different currencies in which interest rate positions are held.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Up to 30 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>31 &#8211; 180 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>181 &#8211; 360 days</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1 &#8211; 5 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Over 5 years</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Indefinite</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest&#8209;earning assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,136,310 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,805,889 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,115,370 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146,421,846 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55,599,348 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,347,158 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224,425,921 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,422,266 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,392,915 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19,351,886 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,816,085 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,391,763 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 533,104 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148,908,019 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,753 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,454 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19,205 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,284,940 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,691,766 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39,006,118 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,977,537 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111,922,357 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,543,922 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,965,417 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,565,940 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183,975,173 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,136,673 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,544,426 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,387,187 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,754,483 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424,955 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,247,724 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Loans and advances to customers <SUP>(1)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>32,750,584 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35,836,525 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36,815,000 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167,506,938 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46,196,264 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33,842,920 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352,948,231 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Compulsory deposits with the Central Bank </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>62,280,223 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62,280,223 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,217,337 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,217,337 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total interest&#8209;earning assets </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148,711,346 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171,504,566 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67,232,570 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450,749,709 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168,087,373 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,723,182 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp; 1,045,008,745 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest&#8209;bearing liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Deposits from banks <SUP>(2)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196,146,769 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,640,587 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31,589,994 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,221,075 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,328,751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284,927,176 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Savings deposits <SUP>(3)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103,332,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103,332,697 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,134,701 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,400,607 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,531,633 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97,550,483 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125,617,424 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,422,727 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31,299,770 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48,540,240 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51,142,979 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768,374 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135,174,090 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738,929 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9,428,997 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640,536 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,767,242 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,603,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,179,401 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;Insurance technical provisions and pension plans <SUP>(3)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>207,499,559 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,411,996 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939,034 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28,239,001 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239,089,590 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total interest&#8209;bearing liabilities </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517,275,382 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84,181,957 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92,241,437 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219,920,780 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24,700,822 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938,320,378 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Asset/liability gap </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (368,564,036)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87,322,609 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25,008,867)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230,828,929 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 143,386,551 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38,723,182 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106,688,367 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Cumulative gap </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (368,564,036)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (281,241,427)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (306,250,294)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75,421,366)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67,965,186 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106,688,367 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Ratio of cumulative gap to total interest&#8209;earning assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(35.3)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(26.9)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(29.3)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(7.2)%</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.2%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=8 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For indefinite operations, it refers to credit card operations;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=8 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> including: <FONT style="FONT-SIZE: 8pt">o<FONT lang=EN-US color=black face=arial,sans-serif>bligations for repurchase agreements</FONT></FONT>, borrowings, onlendings and interbank deposits; and</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=8 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(3)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Savings deposits and&nbsp; insurance technical provisions and pension plans are classified as up to 30 days, without considering average historical turnover.</FONT></P></TD></TR></TABLE></DIV></DIV></DIV></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Exchange rate sensitivity</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Most of our operations are denominated in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. Our policy is to avoid material exchange rate mismatches. However, at any given time, we generally have outstanding long-term debt denominated in and indexed to foreign currencies, principally the U.S. dollar. As of December 31, 2017 our net foreign currency liability exposure, considering off-balance-sheet derivative financial instruments, was R$54,232 million, or 46.2% of shareholders&#8217; equity. Consolidated net foreign currency exposure is the difference between total foreign currency-indexed or -denominated assets and total foreign currency-indexed or -denominated liabilities, including off-balance-sheet derivative financial instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our foreign currency position arises mainly through our purchases and sales of foreign currencies (primarily U.S. dollars) from Brazilian exporters and importers, from other financial institutions on the interbank market, and on the spot and forward currency markets. The Central Bank regulates our maximum outstanding long and short foreign currency positions.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader142"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the composition of our assets, liabilities and equity by currency and term was as set out in the table below. Our foreign currency assets are largely denominated in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> but are indexed to foreign currencies, principally the U.S. dollar. Most of our foreign currency liabilities are denominated in foreign currencies, principally the U.S. dollar.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="40%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="60%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency as % of total</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Assets </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>79,490,208 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,252,743 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>81,742,951 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,205,016 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 382,172 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,587,188 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>145,888,178 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 639,188 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 146,527,366 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,172,357 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 927 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,173,284 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Indefinite </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,176,506 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 245,697 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,422,203 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,156,662 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 10,405 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,167,067 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>80,299,138 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,516,948 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>83,816,086 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,886,240 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,505,522 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>33,391,762 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Indefinite </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,037,807 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11,037,807 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments held to maturity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 21,798 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,614 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 29,412 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>25.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,284,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,284,940 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28,691,766 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28,691,766 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>177,532,261 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,442,912 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 183,975,173 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.5%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>29,929,809 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,317,915 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32,247,724 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 172,520,716 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,749,448 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 187,270,164 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>102,109,388 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,874,271 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 114,983,659 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>41,921,656 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,582,620 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>44,504,276 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Non-current assets available for sale</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,520,968 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 5 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,520,973 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Investments in associates and joint ventures</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,257,384 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,257,384 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;- </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Property and equipment, net of accumulated depreciation</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,410,174 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 22,301 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8,432,475 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16,164,952 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 14,355 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16,179,307 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.1%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Taxes to be offset</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,483,831 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 40,744 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,524,575 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deferred income tax assets</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,730,672 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,239 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,731,911 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other assets </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20,988,342 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,138,571 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>35,126,913 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,401,862 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 64,100 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12,465,962 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,064,865 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 196,247 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,261,112 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.0%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,162,347,496 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>62,005,944 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,224,353,440 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.1%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Percentage of total assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>94.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter142"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>142</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_143"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader143"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.B. Liquidity and Capital Resources</U></FONT></B></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="36%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$ in thousands, except %</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>R$</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Foreign currency</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Foreign currency as % of total</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Liabilities and Shareholders' Equity </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Deposits from banks <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233,081,673 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25,325,969 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258,407,642 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>9.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>19,951,501 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,269,574 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,221,075 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>10.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,207,220 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121,531 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,328,751 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Deposits from customers</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152,173,833 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,284,129 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 164,457,962 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>7.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>97,289,482 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 233,630 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97,523,112 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>0.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27,371 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27,371 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Financial liabilities held for trading</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13,678,222 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156,881 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13,835,103 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>1.1%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>74,575 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60,073 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134,648 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>44.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,048 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 303,200 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305,248 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>99.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Funds from securities issued</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82,299,120 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970,705 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83,269,825 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>1.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>49,054,770 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,081,959 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51,136,729 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>4.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742,111 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25,425 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 767,536 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>3.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Subordinated debt </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,566,748 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241,715 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,808,463 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>2.2%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>9,371,234 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,396,007 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20,767,241 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>54.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,603,697 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,603,697 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;Insurance technical provisions and pension plans</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>239,084,588 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,002 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239,089,590 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>0.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Other provisions</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,488,773 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,954 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,490,727 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>0.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Current income tax liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,409,551 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,794 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,416,345 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>0.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Deferred income tax liabilities</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,251,847 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,251,847 </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>-</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Other liabilities <SUP>(2)</SUP></FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Less than one year </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80,885,480 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,549,634 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88,435,114 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>8.5%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>From one to five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>5,049,611 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52,907 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,102,518 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>1.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>More than five years </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,123,959 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155,233 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4,279,192 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>3.6%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Shareholders' Equity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117,693,704 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;- </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117,693,704 </FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>-</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,161,111,118 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63,242,322 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,224,353,440 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>5.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>Percentage of total liabilities and shareholder's equity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>94.8%</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>5.2%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif> including: obligations for repurchase agreements, borrowings, onlendings and interbank deposits; and</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="100%" colSpan=5>

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif>(2)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Arial,sans-serif> Other liabilities, whose primary components provision for contingent liabilities, are not a source of funding.</FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Derivative financial instruments are presented in the table below on the same basis as presented in the consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our cash and cash equivalents in foreign currency are represented principally by U.S. dollars. Amounts denominated in other currencies, which include Euros and Yen, are indexed to the U.S. dollar through currency swaps, effectively limiting our foreign currency exposure to U.S. dollars only.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We enter into short-term derivative contracts with selected counterparties to manage our overall exposure, as well as to assist customers in managing their exposures. These transactions involve a variety of derivatives, including interest rate swaps, currency swaps, futures and options. For more information regarding these derivative contracts, see Note 20(c) to our consolidated financial statements in "Item 18. Financial Statements." As of December 31, 2017, the composition of notional reference and/or contracted values and fair values of trading derivatives held by us is presented below:</FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31, 2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Reference amounts</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Derivatives </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate futures contracts </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>96,081,180 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>96,081,180 </FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 132,837,699 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 132,837,699 </FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency futures contracts </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>48,376,597 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>48,376,597 </FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>67,238,635 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>67,238,635 </FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Futures contracts - other</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 163,224 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 163,224 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 113,772 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 113,772 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate option contracts </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,663,668 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,663,668 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,616,129 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9,616,129 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency option contracts </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,335,027 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7,335,027 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,274,094 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,274,094 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Option contracts - other </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 443,443 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 443,443 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 228,141 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 228,141 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign currency forward contracts </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,372,477 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10,372,477 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,947,271 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,947,271 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Forward contracts - other</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Purchases </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 114,020 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 114,020 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Sales </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 635,522 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; 635,522 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Swap contracts </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Asset position </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate swaps </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,636,856 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56,636,856 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Currency swaps </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,161,641 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,161,641 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Liability position </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Interest rate swaps </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,454,647 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31,454,647 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="43%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Currency swaps </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,288,568 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14,288,568 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Capital expenditures</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the past three years, we have made, and expect to continue to make moving forward, significant capital expenditures related to improvements and innovations in technology and the Internet designed to maintain and expand our technology infrastructure in order to increase our productivity, accessibility, cost efficiency and our reputation as a leader in technological innovation in the financial services sector. We have made significant capital expenditures for systems development, data processing equipment and other technology designed to further these goals. These expenditures are for systems and technology for use both in our own operations and by customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows our capital expenditures accounted for as fixed assets in the periods shown:</FONT></P>

<a name="_bclFooter144"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>144</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_145"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader145"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>5.C. Research and Development, Patents and Licenses</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="55%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Infrastructure </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Land and buildings </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>140,356 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>95,401 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>55,115 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Installations, properties and equipment for use</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>680,829 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,086,811 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,171,147 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Security and communications systems</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>31,874 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27,100 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>24,958 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Transportation systems</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,228 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,473 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>41,982 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>SubTotal</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>857,287 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,212,785 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,293,202 </FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Information Technology </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Data processing systems</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,936,656 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,405,093 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 1,810,294 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Financial leasing of data processing systems</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>655,407 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>633,680 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>587,792 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>SubTotal</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,592,063 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,038,773 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 2,398,086 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,449,350 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 4,251,558 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 3,691,288 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>During 2017, we made investments in the amount of R$3,449 million, R$857 million of which were related to infrastructure and R$2,592 million related to information technology.</FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></STRIKE></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that capital expenditures in 2018 and 2019 will not be substantially greater than historical expenditure levels and anticipate that in accordance with our practice during recent years, our capital expenditures in 2018 and 2019 will be funded from our own resources. No assurance can be given, however, that the capital expenditures will be made and, if made, that such expenditures will be made in the amounts currently expected.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577600"></A><A name="_Toc415063378"></A><A name="_Toc292442702"></A><A name="_Toc288278523"></A><A name="_Toc288271596"></A><A name="_Toc261486006"></A><A name="_Toc257080062"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.C. Research and Development, Patents and Licenses</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577601"></A><A name="_Toc415063379"></A><A name="_Toc292442703"></A><A name="_Toc288278524"></A><A name="_Toc288271597"></A><A name="_Toc261486007"></A><A name="_Toc257080063"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.D. Trend Information</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information, see "Forward-looking Statements" and "Item 3.D. Risk Factors," where we present the risks we face in our business that may affect our commercial activities, operating results or liquidity.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577602"></A><A name="_Toc415063380"></A><A name="_Toc292442704"></A><A name="_Toc288278525"></A><A name="_Toc288271598"></A><A name="_Toc261486008"></A><A name="_Toc257080064"></A><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.E. Off-balance sheet arrangements</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 5.A. Operating Results &#8211; Critical accounting policies &#8211; off-balance sheet financial guarantees."</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 5.A. Operating Results &#8211; Critical accounting policies &#8211; Commitments and contingencies."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577604"></A><A name="_Toc415063382"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.G. Safe Harbor</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577605"></A><A name="_Toc415063383"></A><A name="_Toc292442706"></A><A name="_Toc288278527"></A><A name="_Toc288271600"></A><A name="_Toc261486010"></A><A name="_Toc257080066"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 6.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; FONT-WEIGHT: normal; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</FONT></B></H1></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577606"></A><A name="_Toc415063384"></A><A name="_Toc292442707"></A><A name="_Toc288278528"></A><A name="_Toc288271601"></A><A name="_Toc261486011"></A><A name="_Toc257080067"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>6.A. Board of Directors and Board of Executive Officers</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are managed by our Board of Directors and our Board of Executive Officers. The Board of Directors establishes our corporate strategy and policies and supervises and monitors the Board of Executive Officers. In turn, the Board of Executive Officers implements the strategy and policies set by the Board of Directors and is responsible for our day-to-day management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Board of Executive Officers currently comprises (i) the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and (ii) our Officers, Department Officers and Regional Officers. The </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> consists of one Chief Executive Officer, six Vice-Presidents, four Managing Officers and eight Deputy Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our eight-member Board of Directors meets six times during the year and on an extraordinary </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>145</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>basis whenever necessary. It is responsible for:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>establishing our corporate strategy;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reviewing our business plans and policies; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>supervising and monitoring the activities of our Board of Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Our Audit Committee, among other designations, is in charge of approving the engagement of our independent auditors for audit and non-audit services provided to our subsidiaries or to us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> meets weekly and is responsible for:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>implementing the strategy and policies established by our Board of Directors; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>managing our day-to-day business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Several members of our Board of Directors and the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Exe</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>cutiva also perform senior management functions at our subsidiaries, including BRAM, Bradesco Financiamentos, Bradesco Cons&#243;rcios, Bradesco BBI, Bradesco Leasing, BEM DTVM, Bradesco Cart&#245;es, Bradesco Seguros and subsidiaries. Each of these subsidiaries has an independent management structure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Brazilian law, the election of all members of our Board of Directors and Board of Executive Officers are subject to approval by the Central Bank. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We present below biographies of the current members of our Board of Directors and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Members of the Board of Directors:</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Luiz Carlos Trabuco Cappi, Chairman</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>October 6, 1951. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>He began his career 48 years ago, devoting his entire professional life to the Bradesco Group. He was the Investor Relations Officer and the Executive Vice-President of Banco Bradesco from 1999 to 2009 accumulating such position with, the Presidency of Grupo Bradesco Seguros during six years. He was the Chairman of Banco Bradesco's Board of Executive Officers from March 2009 to March 2018, accumulating with the position of Vice-Chairman of the Board of Directors until October 2017, when he was promoted to Chairman of the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Chairman of Banco Bradesco S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Chairman of the Board of Directors of Odontoprev S.A., Member of the Board of Directors of ArcelorMittal Brasil, Member of the Strategic Committee of Vale S.A., Chief Executive Officer of the Marketing and Funding Committee of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Entidades de Cr&#233;dito Imobili&#225;rio e Poupan&#231;a</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - ABECIP; of&nbsp; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Nacional da Previd&#234;ncia Privada</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - ANAPP; of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Nacional de Sa&#250;de Suplementar </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- FENASA&#218;DE; Chairman of the Board of Representatives of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva da Confedera&#231;&#227;o Nacional das Institui&#231;&#245;es Financeiras</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CNF, Member of the Superior Board and Vice-President of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Confedera&#231;&#227;o Nacional das Empresas de Seguros Gerais, Previd&#234;ncia Privada e Vida, Sa&#250;de Suplementar e Capitaliza&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CNSeg, Member of the Board of Director and of the Advisory Board of FEBRABAN &#8211; Federa&#231;&#227;o Brasileira de Bancos (Brazilian Federation of Banks) and Full Member of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Association Internationale pour I&#8217;Etude de I&#8217;Economie de I&#8217;Assurance - Association de Gen&#232;ve</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, Geneva, Switzerland.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Philosophy from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade de Filosofia, Ci&#234;ncias e Letras de S&#227;o Paulo.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduate degree in Social Psychology at </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Escola de Sociologia e Pol&#237;tica de S&#227;o Paulo</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Carlos Alberto Rodrigues Guilherme, Vice-Chairman of the Board of Directors</FONT></U></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> December 21, 1943.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> He began his career in December 1957. He was elected Department Officer in March 1986, Deputy Officer in March 1998, Managing Officer in March 1999, Member </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>146</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>6.A. Board of Directors and Board of Executive Officers</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of the Board of Directors in March 2009 and Vice-Chairman of the Board of Directors in October 2017, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Law degree from Pinhalense Education Foundation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Vice-Chairman of the Board of Directors of Bradesco Leasing S.A. - Arrendamento Mercantil; Member of the Managing Board and Managing Officer of Funda&#231;&#227;o Bradesco.Member of the Board of Directors and Officer of Cidade de Deus - Companhia Comercial de Participa&#231;&#245;es; Member of the Board of Director of NCF Participa&#231;&#245;es S.A.; Officer of Nova Cidade de Deus Participa&#231;&#245;es S.A.; Vice-Chairman of the Board of Directors and Member of the Strategic Committee of BSP Empreendimentos Imobili&#225;rios S.A.; Vice-Chairman of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BSP Park Estacionamento e Participa&#231;&#245;es S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Officer of Top </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Clube Bradesco, Seguran&#231;a, Educa&#231;&#227;o e Assist&#234;ncia Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Directors of Bradespar S.A.; CEO of Banco Bradesco BERJ S.A.; and Vice-Chairman of the Board of Directors of Bradesco Sa&#250;de S.A..</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Officer of Banco de Cr&#233;dito Real de Minas Gerais S.A. and of Credireal Leasing S.A. - Arrendamento Mercantil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Denise Aguiar Alvarez, Director</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>January 24, 1958.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> In April 1986, she was appointed to the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade de Deus - Companhia Comercial de Participa&#231;&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, one of the holding companies of Banco Bradesco S.A</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, and since July 1988, she has also served as an Officer.In February 1990, she was also elected as Member of the Board of Directors, the position she currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Education from PUC- SP - Pontif&#237;cia Universidade Cat&#243;lica de S&#227;o Paulo. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Masters in Education from New York University, USA </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors of Bradespar S.A.; Member of the Board of Trustees and Deputy Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; CEO of ADC Bradesco &#8211; Sports Association; Member of the Consulting Board of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Pinacoteca Arte e Cultura</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - APAC; She is also a Member of the Deliberative Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Museu de Arte Moderna de S&#227;o Paulo </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(MAM); Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Roberto Marinho</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Consulting Board of Canal Futura;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Member of the Consulting Committee of</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Funda&#231;&#227;o Dorina Nowill para Cegos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the General Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Comunitas: Parcerias para o Desenvolvimento Solid&#225;rio</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Effective Member of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o de Apoio ao Programa Alfabetiza&#231;&#227;o Solid&#225;ria </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- AAPAS; and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Chairman of the Board of Governance of </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Todos pela Educa&#231;&#227;o</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> (All for Education).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>She was Member of the Deliberative Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fundo Social de Solidariedade do Estado de S&#227;o Paulo </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- FUSSESP; and Chairman of the Board of Governance of GIFE - the Group of Institutes, Foundations and Enterprises. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>She is Jo&#227;o Aguiar Alvarez&#8217;s sister, who is also a Director. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Jo&#227;o Aguiar Alvarez, Director</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>August 11, 1960.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> In April 1986, he was elected to the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade de Deus -</FONT></I><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I></B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Comercial de Participa&#231;&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, one of the holding companies of Banco Bradesco S.A</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, and since April 1988, he has served as an Officer and, in February 1990, Member of the Board of Directors, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Agronomy from the Pinhalense Education Foundation &#8211; Manuel Carlos Gon&#231;alves College of Agronomy and Animal Husbandry.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors of Bradespar S.A.; and Member of the Board of Trustees and Deputy Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>He is Denise Aguiar Alvarez&#8217;s brother, who is also a Director.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Milton Matsumoto, Director</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>147</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>April 24, 1945.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> He has been with Bradesco since September 1957. He was elected Department Officer in March 1985, Deputy Officer in March 1998, a Managing Officer in March 1999 and Member of the Board of Directors in March 2011, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Business Administration from UNIFIEO - University Center FIEO.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Directors of Bradesco Leasing S.A. - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Arrendamento Mercantil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Directors of Bradespar S.A.; Member of the Board of Directors and Strategy Committee of BSP Empreendimentos Imobili&#225;rios S.A.; Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade de Deus - Companhia Comercial de Participa&#231;&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Directors of NCF Participa&#231;&#245;es S.A.; Officer of Nova Cidade de Deus Participa&#231;&#245;es S.A.; Member of the Board of Trustees and Managing Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Vice-Chairman of the Board of Directors of Fidelity Processadora e Servi&#231;os S.A.; Member of the Board of Directors of Banco Bradesco BERJ S.A. and an Officer of Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios; the first Secretary Officer of the Bank Union in the States of S&#227;o Paulo, Paran&#225;, Mato Grosso, Mato Grosso do Sul, Acre, Amazonas, Par&#225;, Amap&#225;, Rond&#244;nia and Roraima; Alternate Member of the Board of Directors of CPM Holdings Ltd.; Alternate Member of the Board of Directors of CPM Holdings Ltd.; Secretary Officer of the Union of the Credit, Financing and Investing Companies of the State of S&#227;o Paulo; and Secretary Officer of the Interstate Federation of FENACREFI Loan, Financing and Investment Institutions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Alexandre da Silva Gl&#252;her &#8211; Director</FONT></U></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>August 14, 1960.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He joined Banco Bradesco S.A. in March 1976. He was elected Regional Officer in August 2001, Department Officer in March 2005, Deputy Officer in December 2010, Managing Officer in January 2012, and Executive Vice-President in January 2014. In March 2018, he was elected Member of the Board of Directors, the position he currently holds. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Accounting from Universidade Federal do Rio Grande do Sul, and in Business Administration from ULBRA - Universidade Luterana do Brasil. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>International Executive Program at the Wharton School - Advanced Management Program - University of Pennsylvania, USA; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Administration of Financial Institutions (Banking),</FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Retail for Low-income Segments, and Credit Risk Management - Vision of Portfolio by the Funda&#231;&#227;o Get&#250;lio Vargas </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- School of Business Administration of S&#227;o Paulo </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Trustees and Managing Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco;</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Vice-President of IBCB - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Instituto Brasileiro de Ci&#234;ncia Banc&#225;ria</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Effective Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Aquarius Participa&#231;&#245;es S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>., </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Processadora</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> S.A., and also of Fidelity Servi&#231;os e Contact Center S.A;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Chairman and Effective Member of the Consulting Board of Credit Guarantee Fund &#8211; FGC; and</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Full Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>C&#226;mara Interbanc&#225;ria de Pagamentos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CIP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Investor Relations Officer of Bradesco</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Alternate Member of the Deliberative Council of Brazilian Association of Real Estate Credit and Savings Entities - ABECIP; Member of the Board of Directors of Instituto BRAiN - Brasil Investimentos &amp; Neg&#243;cios; Member of the Banking Self-Regulatory Council of FEBRABAN &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Brasileira de Bancos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Vice-President of FEBRABAN &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Brasileira de Bancos; </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Vice-President and Alternate Delegate</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> at CONSIF at FENABAN - Federa&#231;&#227;o Nacional dos Bancos; </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Treasury Officer of the Association of Banks of the States of S&#227;o Paulo, Paran&#225;, Mato Grosso, Mato Grosso do Sul, Acre, Amazonas, Par&#225;, Amap&#225;, Rond&#244;nia and Roraima; Vice-Chairman of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Central de Exposi&#231;&#227;o a Derivativos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CED; and Representative of Bradesco Group at ANBIMA - Brazilian Association of Financial and Capital Markets Entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Josu&#233; Augusto Pancini &#8211; Director</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>April 14, 1960.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> He joined </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banco Bradesco S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. in July 1976. He was elected Regional Officer in July 1997, Department Officer in July 2003, Deputy Officer in December 2010, and </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Managing Officer in January 2012. He was elected Executive Vice-President in January 2014, and since March 2018, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>has been accumulating the position of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>148</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>6.A. Board of Directors and Board of Executive Officers</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Mathematics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Centro Universit&#225;rio da Funda&#231;&#227;o de Ensino Oct&#225;vio Bastos</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; Feob (UNIFEOB).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Lato Sensu&#8221; postgraduate degree in Business Economics - Finance from Pontif&#237;cia Universidade Cat&#243;lica de Campinas - PUC - Campinas; and AMP - Advanced Management Program, taught at the IESE Business School - University of Navarra, S&#227;o Paulo.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Trustees and Managing Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Managing Officer of Kirton Bank S.A. &#8211; Banco M&#250;ltiplo.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Alternate Member of the Deliberative Board of ABECIP - Brazilian Association of Real Estate Credit and Savings Entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Maur&#237;cio Machado de Minas &#8211; Director</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>July 1, 1959.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He joined Banco Bradesco S.A. in July 2009 as Managing Officer. In January 2014 he was elected Executive Vice-President and since March 2018, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>has accumulated the position of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Electrical Engineering from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Escola Polit&#233;cnica da Universidade de S&#227;o Paulo</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Poli/USP).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Specialization in Data Communications and Software Development at Wharton Business School, in the United States; university extension course in Finance at Wharton Business School, in the United States; and Executive Development Program at Columbia University in New York, United States. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;Member of the Board of Trustees and Managing Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Effective Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Aquarius Participa&#231;&#245;es S.A., Fidelity Processadora S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Servi&#231;os e Contact Center S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Consulting Committee of IBM Corporation; and Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>NCR Brasil - Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Executive Vice-President, COO (Chief Operations Officer) and an Alternate Member of the Board of Directors of CPM Braxis S.A.; Senior Analyst with Banco Ita&#250; S.A.; Officer of Support Services of a group of Brazilian IT companies (Eletrodigi, Flexidisk and Polymax) and President of Scopus; and Member of the Board of Directors of MPO - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Processadora de Pagamentos M&#243;veis S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Members of the Board of Diretoria Executiva:</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=ES style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Octavio de Lazari Junior, CEO</FONT></U></B><B><FONT lang=ES style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=ES style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>July 18, 1963. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;He joined Banco Bradesco S.A. in September 1978. He was promoted to the position of Executive Deputy Officer, in January 2012 and Managing Officer in February 2015</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Executive Vice-President</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in May 2017. In March 2018, he was promoted to CEO, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in</FONT><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Economics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade de Ci&#234;ncias Econ&#244;micas e Administrativas de Osasco.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Specialization courses in: Financial and Marketing Strategies at </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Administra&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (FEA/USP), Financial Management from FGV and Strategies in Finance from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and the Advanced Management Program (AMP) taught at the IESE Business School - University of Navarra, S&#227;o Paulo.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Managing Officer of Kirton Bank S.A. &#8211; Banco M&#250;ltiplo and Member of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>N&#250;cleo de Altos Temas </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(NAT); and Member of Managing Board and Consulting Committee of&nbsp; FEBRABAN &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Brasileira de Bancos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Chairman of the Managing Board of ABECIP </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Entidades de Cr&#233;dito Imobili&#225;rio e Poupan&#231;a</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Alternate Member of Board of Directors of CIP - C&#226;mara Interbanc&#225;ria de Pagamentos; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Full Member of the Board of Directors of CIBRASEC - </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Brasileira de Securitiza&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Council of Representatives of the CNF - </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Confedera&#231;&#227;o Nacional das Institui&#231;&#245;es Financeiras</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Officer of Real Estate Credit and Savings and Vice-Chairman of the Committee on Governance of Portability </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of Credit Operations of FEBRABAN</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Brasileira de Bancos</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of Consulting Committee of FIABCI/BRASIL - Cap&#237;tulo Nacional Brasileiro da Federa&#231;&#227;o Internacional das Profiss&#245;es Imobili&#225;rias; and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Alternate Officer of </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Uniapravi - Uni&#243;n Interameriana para la Vivienda</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Josu&#233; Augusto Pancini, Vice-President:</FONT></U></B><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mr. Pancini </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>also holds the position of </FONT><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>His experience is described in</FONT><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;&#8211; Members of Board of Directors.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Maur&#237;cio Machado de Minas, Vice-President:</FONT></U></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mr. Minas </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>also holds the position of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Directors. His experience is described in &#8220;&#8211; Members of Board of Directors.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Marcelo de Ara&#250;jo Noronha, Vice-President</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>August 10, 1965.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Mr. Noronha started his career in 1985 at Banco Banorte, where he worked until 1996 when he started to work as Commercial Officer with Banco Bilbao Vizcaya Argentaria Brasil S.A, currently Banco Alvorada S.A. and was promoted to Vice-President for products, trade finance, middle market and retail. In February 2004, he was elected Department Officer of Banco Bradesco S.A. He was elected Deputy Officer in December 2010 and Managing Officer in January 2012. In February 2015, he was elected Executive Vice-President, the position he currently holds, where he is responsible for credit and debit cards payments, marketing and CRM.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Business Administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Universidade Federal de Pernambuco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif> (UFPE).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Specialization in Finance from IBMEC - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Instituto Brasileiro de Mercado de Capitais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>; AMP - Advanced Management Program at IESE - Instituto de Estudios Empresariales, Universidad de Navarra in Barcelona and&nbsp; Certified Member of the Board of Directrors of the Brazilian Institute of Corporate Governance - IBGC. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Chairman of the Board of Directors of Alelo - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Brasileira de Solu&#231;&#245;es e Servi&#231;os</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Vice-Chairman of the Board of Directors of Cielo S.A. (leader accreditation entity in Brazil); Member of the Board of Directors of Elo Participa&#231;&#245;es S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CEO of ABECS - </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Empresas de Cart&#245;es de Cr&#233;dito e Servi&#231;os</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Member of the Council of Representatives (representing ABECS) of CNF - </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Confedera&#231;&#227;o Nacional das Institui&#231;&#245;es Financeiras</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Andr&#233; Rodrigues Cano, Vice-President</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>July 22, 1958.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mr. Cano joined Bradesco in April 1977 and was elected Department Officer in December 2001. He was elected Officer of Banco Bradesco Financiamentos S.A. in September 2008, remaining in this position until his return to Bradesco as Department Officer in December 2009. He was elected Deputy Officer in December 2010, Managing Officer in January 2012 and Executive Vice-President in January 2017, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Business Administration from FMU - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdades Metropolitanas Unidas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> MBA - Controller from </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>FIPECAFI - </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Institute of Accounting, Finance and Actuarial Research - FEA-USP; and the Advanced Management Program (AMP) - Harvard Business School in Boston, USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco;</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Managing Director of Kirton Bank S.A.; &#8211; Banco M&#250;ltiplo; Effective Officer of the National Confederation of the Financial System &#8211; CONSIF; Vice-President of FEBRABAN - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Federa&#231;&#227;o Brasileira de Bancos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Vice-President and Alternate Delegate at CONSIF at FENABAN - </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>Federa&#231;&#227;o Nacional dos Bancos</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; &nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Treasury Officer of the Association of Banks of the States of S&#227;o Paulo, Paran&#225;, Mato Grosso, Mato Grosso do Sul, Acre, Amazonas, Par&#225;, </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>6.A. Board of Directors and Board of Executive Officers</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Amap&#225;, Rond&#244;nia and Roraima;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Representative of Bradesco Group at ANBIMA - Brazilian Association of Financial and Capital Markets Entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Alternate Vice-Chairman of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Processadora e Servi&#231;os S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.; Effective Member and Officer of the Board of Directors of TECBAN - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tecnologia Banc&#225;ria S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.; Effective Member of the Fiscal Council of Tele Celular Sul Participa&#231;&#245;es S.A.; Alternate Member of the Fiscal Council of Tele Nordeste Celular Participa&#231;&#245;es S.A.; Officer of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ACREFI - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Nacional das Institui&#231;&#245;es de Cr&#233;dito, Financiamento e Investimento</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Vice-Chairman of the Curator Council of the National Quality Foundation &#8211; FNQ.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cassiano Ricardo Scarpelli - Vice-President</FONT></U></B><B><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>July 28, 1968.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He joined</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Organization in June 1984. In February 2001 he was promoted to Executive Superintendent. In March 2007, he was elected Department Officer, in February 2015, Deputy Officer, and in January 2017, Managing Officer. In March 2018, he was elected Executive Officer, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Economics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade de Ci&#234;ncias Econ&#244;micas e Administrativas de Osasco.</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> International Executive Program at </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Queen&#180;s School of Business - Queen&#180;s Executive Program</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, in</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Ontario, Canada.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Chairman of the Board of Regulation and Best Practices for the Capital Market of ANBIMA - Brazilian Association of Financial and Capital Markets Entities, having previously held the following positions: Vice-President of the Regulation and Best Practices Board for Qualified Services to the Capital Market, and Alternate Member of the Qualified Services to the Capital Market Commission; Member of the Comittee of Products and Pricing of B3 S.A. - Brasil, Bolsa, Balc&#227;o; and Deputy Officer of Kirton Bank S.A. - Banco M&#250;ltiplo. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>C&#226;mara Consultiva de Renda Fixa, C&#226;mbio e Derivativos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of B3 S.A. - Brasil, Bolsa, Balc&#227;o; Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bica de Pedra Industrial S.A.; CP Cimento e Participa&#231;&#245;es S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and Latasa S.A., Effective Member of the Board of Directors of Iochpe-Maxion S.A. and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tecnologia Banc&#225;ria S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.; Full Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tigre S.A. - Tubos e Conex&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Effective Member of the Fiscal Council of Bradespar S.A., First Alternate Member of the Fiscal Council of Boavista Prev - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fundo de Pens&#227;o Multipatrocinado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, Alternate Member of the Board of Directors of S&#227;o Paulo Alpargatas S.A., Officer of BEM - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, BMC Asset Management - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. and of UGB Participa&#231;&#245;es S.A.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Eurico Ramos Fabri &#8211; Vice-President</FONT></U></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>September</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>29, 1972.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In February 2008, he joined as Officer in Banco Finasa S.A., a financial institution acquired by Banco Finasa BMC S.A. (currently Banco Bradesco Financiamentos S.A.), as an Officer, remaining until December 2009. From July 2008 to April 2011, he held the position of Officer of Finasa Promotora de Vendas Ltda. In December 2010, he was elected Officer of Banco Bradesco S.A., in January 2012, Department Officer, in February 2015, Deputy Officer and, in January 2017, Managing Officer. In March 2018, he was elected</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Executive Vice-President, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Economic Sciences from UNICAMP - </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Estadual de Campinas</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Executive MBA in Finance from Insper - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Instituto de Ensino e Pesquisa</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; STC Executive from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> in partnership with Kellogg Graduate School of Management;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Advanced Management Program</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> from Harvard Business School, Boston, EUA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He is a Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Directors of</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Mol&#233;stias do Aparelho Digestivo e da Nutri&#231;&#227;o; and Chairman of the Board of Credit Intelligence Manager.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Directors of Cielo S.A., </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Brasileira de Solu&#231;&#245;es e Servi&#231;os </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Elo Participa&#231;&#245;es S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Alternate Member of Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Aquarius Participa&#231;&#245;es S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Processadora S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Servi&#231;os e Contact Center S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Deputy Officer of Kirton Bank S.A. - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banco M&#250;ltiplo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Denise Pauli Pavarina, Managing Officer</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>April 14, 1963.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>She started her career in March 1985, with Banco Bradesco de Investimento S.A., a financial institution that was absorbed by Banco Bradesco S.A. in November 1992. At Bradesco, she held the positions of Underwriting Manager and Department Manager of Portfolio Management. She was promoted to the position of Executive Superintendent in September 1996, and elected Department Officer in January 2001. She was elected Officer of Banco Bradesco BBI S.A. in June 2006, and Managing Officer in January 2007, remaining until December 2009, when she returned to Bradesco, and was elected Department Officer. She was elected Deputy Officer in January 2012 and Managing Officer in February 2015, the position she currently holds. In March 2018, she began to exercise, cumulatively, the role of Director of Investor Relations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Economics from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade Armando Alvares Penteado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (FAAP); and Law from&nbsp; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Paulista </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(UNIP).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Executive MBA in Finance from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Instituto de Ensino e Pesquisa</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Insper) and AMP - Advanced Management Program by IESE Business School.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Managing Officer of BRAM - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco Asset Management S.A. Distribuidora de T&#237;tulos e Valores Mobili&#225;rios</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Vice-Chairman of the Board of Directors of 2bCapital S.A.; Member of the Board of Directors, Member of the Advisory Committee for the Intermediation Sector and Member of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Committee to Monitor the Integration</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of B3 S.A. - Brasil, Bolsa, Balc&#227;o; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Market Advisory Board of</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> BSM - BM&amp;FBOVESPA SUPERVIS&#195;O DE MERCADOS, as a representative of the Board of Directors of B3 S.A. - Brasil, Bolsa, Balc&#227;o; Member of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Board of Directors and of the Sustainability Committee</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of Vale S.A.; and Vice-President of Task Force on Climate-related Financial Disclosures (TCFD).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>President of ANBIMA - Brazilian Association of Financial and Capital Markets Entities; Member of the Board of Representatives of the CNF (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Confedera&#231;&#227;o Nacional das Institui&#231;&#245;es Financeiras</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>); Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cielo S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of National Committee for Financial Education&nbsp; (representing ANBIMA) - CONEF; Member of Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bica de Pedra Industrial S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Sider&#250;rgica Belgo-Mineira</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Deputy Member of the Board of Directors of CPM Braxis S.A.; Member of the Board of Directors of Latasa S.A.; Effective Member of the Board of Directors of S&#227;o Paulo Alpargatas S.A.; Alternate Member of the Managing Board of ABRASCA - Associa&#231;&#227;o Brasileira das Companhias Abertas; Member of the Consulting Board of the Brazilian Association of Brokers and Dealers in Securities, Foreign Exchange and Commodities - ANCORD; Officer of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>UGB Participa&#231;&#245;es S.A.</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Officer for Institutional Relations and Director of the&nbsp; Association of Capital Market Investment Analysts - APIMEC S&#227;o Paulo</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> IT Committee of B3 S.A. - Brasil, Bolsa, Balc&#227;o; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Investment Committee of NEO Capital Mezanino Fundo de Investimento em Participa&#231;&#245;es; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Board of Directors of Instituto BRAiN - Brasil Investimentos &amp; Neg&#243;cios; Effective Member of the Board of Directors of Valepar S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Moacir Nachbar Junior, Managing Officer</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>April 5, 1965.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He began his career with Banco Bradesco S.A. in June 1979. In March 2005, he was elected Department Officer. He was elected Deputy Officer in January 2012 and Managing Officer in February 2015, the position he currently holds. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2018, he became responsible for risk management - Chief Risk Officer (CRO). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Accounting from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade Campos Salles</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Latu Sensu&#8221; postgraduate degree in Financial Management from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade Campos Salles</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; MBA-Controller from FIPECAFI - Institute of Accounting, Finance and Actuarial Research (FEA-USP); and Tuck Executive Program from Tuck School of Business at Dartmouth, in Hanover, New Hampshire &#8211; USA; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Alternate Member of </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Advisory Board of the Fundo Garantidor de Cr&#233;ditos (Credit Guarantor Fund)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; FGC; Member of Self-regulation Council of the Brazilian Federation of Banks &#8211; FEBRABAN; Managing Director of Kirton Bank S.A. - Banco M&#250;ltiplo; Alternate Member of the Board of Directors and Member of the Controlling and of Compliance and </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>152</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Risk Committees of Vale S.A.; and Member of the Managing Board and Member of the Audit and Accounting Standards Committee of ABRASCA - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira das Companhias Abertas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He was an Officer and Effective Member of the Fiscal Council of Boavista Prev - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fundo de Pens&#227;o Multipatrocinado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, a multi-sponsor pension fund, an Alternate Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Processadora S.A.,</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and Alternate Member of the Fiscal Council of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Top Clube Bradesco, Seguran&#231;a, Educa&#231;&#227;o e Assist&#234;ncia Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and Full </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the Board of Directors of Valepar S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Renato Ejnisman, Managing Officer</FONT></U></B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>February 12, 1970.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In April 1999, he began his career in the financial market at Bank of America, where he worked until February 2007, with a short spell at Bank Boston during this period. In February 2007, he joined Banco Bradesco BBI S.A., as an Executive Superintendent. In April 2008, he was elected Officer and, in February 2011, Managing Officer and General Officer in February 2015. At Banco Bradesco S.A., was elected Deputy Officer in February 2015 and, in January 2017, Managing Officer, a position he holds simultaneously with the position of General Director of Banco Bradesco BBI S.A. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Physics from USP - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Master&#8217;s degree in Nuclear Physics from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (USP) and a Doctoral degree in Physics from the University of Rochester, New York, USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Chairman of the Board of Regulation and Best Practices for the Capital Market of ANBIMA - Brazilian Association of Financial and Capital Markets Entities; and Vice-Chairman of the Board of Directors of Bradesco Securities Hong Kong Limited, Bradesco Securities, Inc. and Bradesco Securities UK Limited.; and Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Chief Executive Officer of </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. and </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#193;gora Educacional Ltda</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.; Effective Member of </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>C&#226;mara Consultiva de Listagem</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of BM&amp;FBovespa S.A. &#8211; Bolsa de Valores, Mercadorias e Futuros; and Alternate Member of the Managing Board of ABRASCA - Associa&#231;&#227;o Brasileira das Companhias Abertas.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Walkiria Schirrmeister Marchetti, Managing Officer</FONT></U></B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: </FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>November 1, 1960.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>She joined Banco Bradesco S.A. in May 1981. In September 1998, she was promoted to the position of Executive Superintendent. In March 2007, she was elected Department Officer, in February 2015, Deputy Officer, and in January 2017, Managing Officer, the position she currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Mathematics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade de Ci&#234;ncias e Letras Teresa Martin.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Specialization in System Analysis from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Instituto Presbiteriano Mackenzie</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; &#8220;Latu Sensu&#8221; postgraduate degree - MBA Banking from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Administra&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - FIA; and International Executive Programs at the Wharton School - Strategic Thinking and Management for Competitive Advantage Program - Pennsylvania - USA; Columbia Business School - Columbia Senior Executive Program - New York - USA; and Harvard Business School - Negotiation and Competitive Decision Making - Boston - USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Alternate Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Aquarius Participa&#231;&#245;es S.A., </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Processadora S.A</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. and of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Fidelity Servi&#231;os e Contact Center S.A.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=IT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Aur&#233;lio Guido Pagani, Deputy Officer: </FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: March 7, 1960.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He joined Banco Bradesco S.A. in February 1979. In November 1991, he was promoted to the position of Branch Manager. In August 2001, he was elected Officer, in August 2010, Department Officer and, in January 2017, Deputy Officer, position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Business Administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade S&#227;o Francisco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: &#8220;Lato Sensu&#8221; Postgraduate degree (MBA) in Financial Management and Corporative Strategies from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>AMP - </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Advanced Management Program from IESE Business School - University of Navarra, S&#227;o Paulo, SP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Full Representative of Permanent Forum of Micro and Small Enterprises; Sitting Vice-President of the Managing Board and Effective Member of the Deliberative Board of the Brazilian Association of Real Estate Credit and Savings Entities - ABECIP; Full Member of the Regional Board in Osasco at the Board of the S&#227;o Paulo Industrial Employers Association &#8211; CIESP (CIESP Castelo); and Member of Consulting Board of the Brazilian National Chapter of the International Real Estate Federation - FIABCI/BRASIL.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Vice-Chairman of Union of Banks in the State of Rio Grande do Sul and Santa Catarina and Alternate Delegate of the Board of Brazilian Federation of Banks (FENABAN); Second Vice-President of Association of Banks in the State of Rio Grande do Sul; and Effective Director of Association of Banks in the States of Par&#225;, Amap&#225;, Amazonas and Acre.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Guilherme Muller Leal, Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: November 12, 1967. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: He joined, in August 1999, Banco Bilbao Vizcaya Argentaria Brasil S.A., currently denominated Banco Alvorada S.A., reaching the position of Corporate Deputy Officer. In September 2003, was transferred to Banco Bradesco S.A., and in June 2007, he was promoted to the position of Executive Superintendent, in February 2011, he was elected Officer, in January 2012, Department Officer, and in January 2017, Deputy Officer, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Economics from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Santa &#218;rsula</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - USU.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Lato Sensu&#8221; Postgraduate degree with specialization in Corporate Finance from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - PUC-Rio; and Executive Development Program (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Programa de Desenvolvimento de Executivos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; PDE) from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, and the following international executive programs: Authentic Leadership Development and Behavioral Economics: Designing Strategic Solutions For Your Customer and Your Organization from Harvard Business School - Boston, Massachusetts - EUA, Executive Education Program from New York Trend Consulting - NYTC - New York - USA, Wharton Advanced Management Program and Executive Negotiation Workshop: Bargaining for Advantage by University of Pennsylvania - The Wharton School - Philadelphia - Pennsylvania - USA, and Leadership at the Peak Program from Center for Creative Leadership Staff and Leadership at the Peak Participants - Colorado Springs - USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current position</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Luiz Carlos Brand&#227;o Cavalcanti Junior, Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: March 2, 1962.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: He joined Banco Econ&#244;mico S.A. in September 1983, an entity initially acquired by Banco Excel Econ&#244;mico and later on by BBVA (Banco Bilbao Vizcaya Argentaria Brasil S.A.). In September 2003, he was transferred to Banco Bradesco S.A. in the position of Executive Superintendent, in </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>March 2005, he was elected Department Officer of the Department of Marketing and Digital Channels and, in January 2017, Deputy Officer responsible for the area of research, innovation, Digital Channels and Next, position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Economics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade Cat&#243;lica de Ci&#234;ncias Econ&#244;micas da Bahia</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: MBA in Advanced Management Program from Amana-Key; Strategic Planning and Implementation from Universidade of Michigan Business-SP; Business negotiation Course from FGV; Management Model Course, Culture and Values from University of NAVARRA - IESE - Spain and from FGV; Making Strategy Work: Leading Effective Execution - Wharton Executive Education from University of Pennsylvania - Philadelphia, USA; Advanced Executive Program - Kellogg School of Management from Northwestern University - Chicago, USA; Program Executive Education Communication - New York Trend Consulting - NYTC- New York, USA; Strategic Cost Analysis For Managers - Massachusetts Institute of Technology - MIT - Boston, USA; Implementing Improvement Strategies: Practical Tools and Methods - </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>154</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>6.A. Board of Directors and Board of Executive Officers</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Massachusetts Institute of Technology - MIT - Boston, USA; Authentic Leadership Program - Harvard Business School - Boston, Massachusetts, USA; and The Leadership at the Peak Program - Center for Creative Leadership Staff and Leadership at the Peak Participants, USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Effective Member of the Board of Directors of TecBan - Tecnologia Banc&#225;ria S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Chairman of the Fiscal Council of Associa&#231;&#227;o Escola Superior de Propaganda e Marketing.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rog&#233;rio Pedro C&#226;mara, Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: October 5, 1963.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: He joined Banco Bradesco S.A. in June 1983. In December 2008, he was promoted to the position of Executive Superintendent, in June 2011, he was elected Officer in January 2012, Department Officer and in January 2017, Deputy Officer, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: Business Administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Paulista</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - UNIP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: MBA in Controller from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Pesquisas Cont&#225;beis, Atuariais e Financeiras da Universidade de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - FIPECAFI/USP; &#8220;Latu Sensu&#8221; postgraduate degree and MBA with specialization in Knowledge, Innovation and Technology from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Instituto de Administra&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; FIA (FEA/USP); International Module - MBA in Knowledge, Innovation and Technology from Bentley College - Waltham Massachusetts &#8211; USA; Advanced Management Program from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Advanced Management Program - IESE Business School from University of Navarra, S&#227;o Paulo, SP; International Executive Programs: Changing the Game: Negotiation and Competitive Decision Making from Harvard Business School - Boston, USA; Customer - Focused Innovation Program and Leading Change and Organizational Renewal Program from Stanford University Graduate School of Business - California, USA; Making Strategy Work: Leading Effective Execution and Strategic Thinking and Management for Competitive Advantage Program from The Wharton School - Philadelphia, USA; The Leadership at the Peak program from Center for Creative Leadership - Colorado Springs, USA; and The Advanced Strategy Program: Building and Implementing Growth Strategies, High Performance Leadership and in The Executive Development Program from The University of Chicago Booth School of Business - Chicago, USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current positions</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Officer of Kirton Bank S.A. &#8211; Banco M&#250;ltiplo; and Alternative Member of the Board of Directors of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>C&#226;mara Interbanc&#225;ria de Pagamentos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CIP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous positions</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>: Alternate Member of the Fiscal Council of </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Top Clube Bradesco, Seguran&#231;a, Educa&#231;&#227;o e Assist&#234;ncia Social</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Jo&#227;o Carlos Gomes da Silva, Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>January 20, 1961.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He joined Banco Bradesco S.A. in June 1981, and was promoted to the position of Branch Manager in May 1992, and Regional Manager in April 2004. In December 2009, he was elected Regional Officer, in January 2012, Departmental Officer and in February 2017, Deputy Officer, the position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Degree in Accounting Sciences from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Faculdade de Administra&#231;&#227;o e Economia</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (FAE).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Postgraduate MBA in Business Management and Executive MBA in Distance-learning Business Administration - Emphasis on Banking by FGV; and AMP - Advanced Management Program from IESE Business School - University of Navarra, S&#227;o Paulo.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current Positions: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Member of the Board of Trustees of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Member of the Management Committee for the Portability of Credit Operations of FEBRABAN &#8211; Brazilian Federation of Banks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Consulting Committee of the Commerce Association of S&#227;o Paulo; Sitting Vice-President of the Managing Board and Effective Member of the Deliberative Board of ABECIP - Brazilian Association of Real Estate Credit and Savings Entities; Alternate Member of the Board of Directors of CIP - C&#226;mara Interbanc&#225;ria de Pagamentos; Vice-President and Sitting Member of Board of Directors CIBRASEC - Companhia Brasileira de Securitiza&#231;&#227;o; Full Member of the Board of the S&#227;o Paulo Industrial Employers Association (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Centro das Ind&#250;strias do Estado de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, CIESP </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Castelo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>); Alternate Member </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of Managerial Council of Housing Guarantee Fund &#8211; CGFGH; Member of Consulting Board of FIABCI/BRASIL - Brazilian National Chapter of the International Real Estate Federation; Secretary Officer of ABEL - Brazilian Leasing Companies Association; Vice-Chairman of the Managing Board of ACREFI; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Nacional das Institui&#231;&#245;es de Cr&#233;ditos, Financiamentos e Investimento</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Officer of Credit Products PJ (for Legal Entities); Associate Officer of the Executive Committee of Banking Products PF (for Individuals) of FEBRABAN &#8211; Brazilian Federation of Banks; and Chief Secretary of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sindicato Nacional das Empresas de Arrendamento Mercantil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Leasing).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bruno D&#8217;Avila Melo Boetger, Diretor Adjunto:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>June 17, 1967. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>He began his career in 1994 at Citicorp Securities Inc., in New York (USA), where he worked until 1996. From 1997 to March 2007 he worked at the Salomon Brothers Inc. companies and Citigroup Global Markets Inc. (USA), and Salomon Smith Barney Representa&#231;&#245;es Ltda. In April 2007, he joined Banco Bradesco BBI S.A. as Executive Superintendent and, in April 2008, he was elected Officer, and remained in the position until March 2012. In August, 2011, he also began to work in Banco Bradesco S.A. as General Manager in the branch of New York (USA), remaining in the position until January 2014, so than was elected Department Officer. In December 2017 he was elected Deputy Officer, position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Business Administration by </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Escola de Administra&#231;&#227;o de Empresas de S&#227;o Paulo da Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - FGV/EAESP. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Master&#8217;s degree in Business Administration - Concentration in Finance from Cornell University - Johnson Graduate School of Management - Ithaca, New York; and Senior Executive Program - Strategy, Leadership and Transformation by London Business School - Education of Executives &#8211; - London, England.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Managing Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Board of Directors of Banco Bradesco Europa S.A.; and Officer of Banco Bradesco Argentina S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> CEO of Bradesco North America LLC and of Bram US LLC (USA); and Manager of Bradesco Overseas Funchal - Consulting Services, Sociedade Unipessoal Lda.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Glaucimar Peticov &#8211; Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth Date: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>March 18, 1963.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>She began his career in August 1984, with Banco Econ&#244;mico S.A., then with Banco Excel Econ&#244;mico S.A., and then with Banco Bilbao Vizcaya Argentaria Brasil S.A., currently named Banco Alvorada S.A. In September 2003, was transferred to Banco Bradesco S.A., and in December 2009, promoted to the position of Executive Superintendent and, in June 2011, she was elected Department Officer, reporting to the Human Resource Department and to UNIBRAD - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Corporativa Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and, in March 2018 she was elected Deputy Officer, position she currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Psychology by Universidade S&#227;o Marcos. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Lato Sensu&#8221; Postgraduate degree in Human Resource Management by </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Armando Alvares Penteado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CENAP; Specialization in Marketing - FGV (2006);Advanced Management, administered by </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; International Executive Programs: Strategic Human Resource Planning, by University of Michigan Business School - Ann Arbor, Michigan, EUA; Senior Executive Program, by Columbia Business School &#8211; New York, EUA; Negotiation and Competitive Decision-Making, by Harvard Business School - Boston, EUA; and Leadership at the Peak Program, by the Center for Creative Leadership - Colorado, EUA. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of Managing Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Officer of ADC Bradesco - Sports Association; Chief Executive Officer of ARFAB - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Recreativa dos Funcion&#225;rios da Atl&#226;ntica-Bradesco</FONT></I><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></I></B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and of Clube Bradesco de Seguros</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of Consulting Board of Global Council of Corporate Universities (GlobalCCU); Secretary Officer of SINDICREFI - Union of the Credit, Financing and Investing Companies of the State of S&#227;o Paulo; and Alternate Member of Fiscal Council of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Top Clube Bradesco, Seguran&#231;a, Educa&#231;&#227;o e Assist&#234;ncia Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Generation and Management of Knowledge and Content Officer of ABRH - Brazil - </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Associa&#231;&#227;o Brasileira de Recursos Humanos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Secretary Officer of FENACREFI - Federa&#231;&#227;o Interestadual das Institui&#231;&#245;es de Cr&#233;dito, Financiamento e Investimento; and Member of the Deliberative Council of FEBRACORP Live University.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Jos&#233; Ramos Rocha Neto &#8211; Deputy Officer:</FONT></U></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Birth date:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> December 8, 1968.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Summary of Professional Experience:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> He joined Banco Bilbao Vizcaya Argentaria Brasil S.A. in May 2000 as Corporate Branch Officer, currently named Banco Alvorada S.A., where he also held the position of Executive Superintendent responsible for Trade Finance and Business Development. In September 2003, he was transferred to Banco Bradesco S.A., and in December 2009, he was elected Officer and in June 2011, Department Officer. In March 2018, he was elected Deputy Officer, position he currently holds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Graduation:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Accounting Sciences by UFPE - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Federal de Pernambuco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Qualifications:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8220;Lato Sensu&#8221; postgraduate degree in Business Administration by CEAG - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Get&#250;lio Vargas </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- FGV &#8211; EAESP; and International Executive Programs at Wharton Business School, Harvard Business School, IESE Business School and Center for Creative Leadership and Executive Development Program at </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Dom Cabral</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, Stanford University School of Business and at Amana Key.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Current Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Officer of BRAM - Bradesco Asset Management S.A. </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Distribuidora de T&#237;tulos e Valores Mobili&#225;rios</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; Member of the Managing Board of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and President and Sitting Member of Comit&#234; de Distribui&#231;&#227;o de Produtos no Varejo (Committee of Distribution of Products in Retail) of ANBIMA - Brazilian Association of Financial and Capital Markets Entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Previous Positions:</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> Member of the Plenary Board and Member of the Consulting Committee of the Commerce Association of S&#227;o Paulo &#8211; ACSP; Alternate Member of the Board of Directors of CIBRASEC - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Brasileira de Securitiza&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and Member of the Management Committee for the Portability of Credit Operations of&nbsp; FEBRABAN - Brazilian Federation of Banks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577607"></A><A name="_Toc415063385"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>6.B. Compensation</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The maximum global compensation of our members of the Board of Directors and Board of Executive Officers are established at the Annual Shareholders' Meetings, These bodies comprise our Executive Officers, Department Officers, Regional Officers and Officers of our subsidiaries. In 2017, our shareholders set the global compensation for our Board of Directors and our Board of Executive Officers and our subsidiaries at R$468.7 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, our Directors, our Board of Executive Officers and Officers of our subsidiaries received aggregate compensation of R$456.3 million for their services. Part of the Management&#180;s compensation is variable. The current compensation policy mandates that 50.0% of the net variable compensation amount is meant for the acquisition of BBD Participa&#231;&#245;es S.A. preferred shares (PNB shares) and/or of our preferred shares to be paid in three annual sequential installments. The first installment is due a year after the payment date. This policy complies with CMN Resolution No. 3,921/10, which regulates compensation policies for senior management of financial institutions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Directors, our Board of Executive Officers and Officers of our subsidiaries have the right to participate in the same pension plans available to all our employees. In 2017, we contributed R$473.7 million to pension plans on behalf of our Directors, members of our Board of Executive Officers and officers of our subsidiaries.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577608"></A><A name="_Toc415063386"></A><A name="_Toc292442709"></A><A name="_Toc288278530"></A><A name="_Toc288271603"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>6.C. Board Practices</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shareholders elect the members of our Board of Directors at the annual shareholders&#8217; meeting for one-year terms and members may be re-elected for consecutive terms. The Board of Directors appoints the members of our Board of Executive Officers for one-year terms, which can also be extended for consecutive terms.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition to this requirement, another condition, included in our Bylaws, remains in force to become a member of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, a person must have worked for us or our affiliates for a minimum of 10 consecutive years. The Board of Executive Officers, besides the Executive Officers, consists of 28 Department Officers, 21 Officers and 21 Regional Officers. Department Officers, Officers and Regional Officers direct the business of each of our various divisions and branches and report to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria </FONT></I></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. To become a Department Officer, Officer or Regional Officer, a person must be an employee or manager at our staff or one of the affiliates. Our Board of Directors may, for up to 25.0% of the members of our Board of Executive Officers, waive the fulfillment of certain requirements for their appointment, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Executive Officers &#8211; the Board of Directors can waive the requirement pursuant to which the person should be an employee of our staff or any of the affiliates for at least 10 years. Notwithstanding the above, such requirement cannot be waived for persons to be appointed as Chief Executive Officers or Vice-Presidents; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Department Officers, Officers and Regional Officers &#8211; the Board of Directors can waive the requirement pursuant to which the person should be an employee or member of the management of our staff or any of the affiliates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The members of our Board of Directors are required to work exclusively for us, unless an exception is granted by the Board of Directors. Notwithstanding the above, the members of our Board of Directors are not required to be or to have been our employees, and service as a member of our Board of Directors does not constitute employment with us.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Fiscal Council</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian law, corporations may have a "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Conselho Fiscal</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>," or Fiscal Council, an independent corporate body with general monitoring and supervision powers and shall have from three to five effective members and the same number for alternates. As from the Special Shareholders&#8217; Meeting held in March 2015, our Bylaws require our Fiscal Council to be a permanent corporate body. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Fiscal Council has five full members (Domingos Aparecido Maia, Jos&#233; Maria Soares Nunes, Ariovaldo Pereira, Jo&#227;o Carlos de Oliveira and Walter Luis Bernardes Albertoni) and five alternates (Nilson Pinhal, Renaud Roberto Teixeira, Jorge Tadeu Pinto de Figueiredo, Jos&#233; Luiz Rodrigues Bueno and Reginaldo Ferreira Alexandre) all of whom were elected in March 12, 2018, for a one-year term that will expire in March 2019. In accordance with Brazilian Corporate Law, our Fiscal Council has the right and obligation to, among other things:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>supervise, through any of its members, the actions of our managers and to verify their fulfillment of their duties;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>review and issue opinions regarding our financial statements prior to their disclosure, including the Notes to the financial statements, the independent auditor's report and any Management reports;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>opine on any management proposals to be submitted to the shareholders&#8217; meeting related to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>changes in our social capital;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>issuance of subscription warrants;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>investment plans and capital expenditure budgets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>distributions of dividends; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>transformation of our corporate form and corporate restructuring, such as takeovers, mergers and spin-offs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inform our Management of any error, fraud, or misdemeanor detected and suggest measures management should take in order to protect our main interests. If our Management fails to take the measures required to protect the company's interests, they are required to inform the shareholders&#8217; meeting of these facts; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>call general shareholders' meetings if Management delays the general shareholders' meeting for more than one month and call special shareholders' meetings in case of material or important matters.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shareholders approved, at the Special Shareholders' Meeting held in December 2003, the creation of the Audit Committee, the Compliance and Internal Control Committee and the Compensation </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>158</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Committee. At the special shareholders' meeting held in March 2006, our shareholders approved the transformation of the Ethical Conduct Committee into a statutory committee. At the special shareholders' meeting held in March 2008, our shareholders approved the creation of the COGIRAC. At the Special Shareholders&#8217; Meeting held in March 2013, the shareholders resolved to exclude from the Bylaws Articles 22, 24 and 25, which dealt, respectively, with organizational components of the Internal Controls and Compliance Committee, the Ethical Conduct Committee and COGIRAC, reflecting the proposal presented by the Executive Committee of Corporate Governance, assessed by the Board of Directors, to maintain in the Bylaws only those committees whose characterization as statutory is required by legal norms, giving greater speed to the process of managing the committees subordinated to the Board of Directors. Thus, only the Audit Committee and the Compensation Committee remain as statutory roles, which should not be construed as a weakening of the corporate governance structure, as the Board of Directors will maintain these committees under its structure, which removal from the Bylaws was approved.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Audit Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; Pursuant to our Bylaws and to Central Bank regulations since April 2004, we established the Audit Committee, comprised of three to five members, one of which is appointed coordinator, all of them appointed and subject to replacement by the Board of Directors. Appointments to our Audit Committee are for a term of five years. The former members of the Audit Committee may only rejoin the body, after at least three years have passed since the last permitted reappointment. Up to one third of the Audit Committee&#8217;s members may be re-elected for a single consecutive term, waiving this period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The current members of the committee are Milton Matsumoto, the committee&#8217;s coordinator, Wilson Antonio Salmeron Gutierrez, a member with no specific designation, and Paulo Roberto Sim&#245;es da Cunha, the Audit Committee financial expert. Milton Matsumoto is also a member of the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In addition, under Brazilian law, the function of hiring independent auditors is reserved for the Board of Directors of a company following recommendation by its Audit Committee. As a result, as specified in Section 3(a)(58) of the Exchange Act, our Board of Directors functions as our Audit Committee for purposes of approving the engagement of our independent auditors for audit services. Except in these respects, our Audit Committee is comparable to and performs the functions of audit committees of U.S. companies. Since our Audit Committee cannot be compared to the audit committees of American companies in terms of engagement of our independent auditors in audit and non-audit services, we have relied on the exemption set forth in Exchange Act Rule 10A - 3(c)(3) in this regard. For more information see "Item 16.D. Exemptions from the listing standards for Audit Committees."</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The responsibilities of the Audit Committee include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>establishing its own rules of operation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>recommending to the Board of Directors the outside firm which should be hired to provide independent audit services, the amount of compensation such firm should receive and providing recommendations as to substitute auditors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>previously analyzing and authorize hiring our independent auditor for services other than auditing financial statements, from the point of view of compliance with rules on independent status;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reviewing financial statements prior to their disclosure, including the notes to the financial statements, the independent auditor's report and Management reports;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>establishing and disclosing procedures for responding to any reports or allegations of a failure to comply with applicable legal requirements or internal codes and regulations, including procedures to ensure the confidentiality and protection of any persons providing information regarding such failures;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>evaluating the effectiveness of the work of both the internal and the independent auditors, including their compliance with applicable legal obligations and internal regulations and codes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>meeting with our Senior Management and both the independent and the internal auditors at least quarterly;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>assessing the Senior Management&#8217;s responsiveness to any recommendations made by both the independent and internal auditors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>advising our Board of Directors regarding any conflicts between the independent auditors and the Board of Executive Officers;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>recommending to our Senior Management, the correction or improvement of policies, practices and procedures identified when performing their activities; and</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>159</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>following up by occasion of its meetings, on its recommendations and requests for information, including the planning of the respective auditing works in order to turn into minutes the content of such meetings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Compensation Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; The Compensation Committee has three to seven members, all of whom are members of our Board of Directors with terms of office of one year, and according to the provisions set forth in CMN Resolution No. 3,921/10, should have at least one non-management member. Members are appointed by and may be replaced by the Board of Directors. The committee's primary responsibility is to advise the Board of Directors in the coordination of the Management compensation policy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other Board Advisory Committees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Compliance and Internal Control Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; the Compliance and Internal Control Committee is comprised of at least five members. All members are formally appointed and may be replaced by the Board of Directors, including its Coordinator. The committee's primary responsibility is to assist the Board of Directors with the performance of its duties related to the adoption of strategies, policies and measures governing internal controls, mitigation of risks, and compliance with the rules applicable to us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Ethical Conduct Committee </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; the Ethical Conduct Committee is composed of at least five members. All members are formally appointed and may be replaced by the Board of Directors, including its Coordinator. The committee's primary responsibility is to propose actions to ensure the enforcement of our Corporate and Sector Codes of Ethics, and of the rules of conduct related to issues of anticorruption and competition, so that they remain effective.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Integrated Risk Management and Capital Allocation Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>- COGIRAC</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; The Integrated Risk Management and Capital Allocation Committee is composed of at least five members, all formally nominated and may be replaced by the Board of Directors, including its Coordinator. This committee's primary responsibility is to advise the Board of Directors in the performance of its duties in the management and control of risks and capital in the sense of the consolidated economic financial entity. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sustainability Committee </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sustainability Committee is composed of at least five members, all formally nominated and may be replaced by the Board of Directors, including its Coordinator. The committee&#8217;s purpose is to advise the Board of Directors in the performance its tasks related to fostering sustainability strategies, including the establishment of corporate guidelines and actions and reconciling economic development issues with those of socioenvironmental responsibility.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 95%" color=windowtext face=Arial,sans-serif>Succession Planning and Nomination Committee </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 95%" color=windowtext face=Arial,sans-serif>&#8211; made up of at least five members, all formally appointed and dismissible by the Board of Directors, including its coordinator. The purpose of the Committee is to advise the Board of Directors on its policy for the succession and nomination of managers, as well as on matters related to the processes of succession.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 95%" color=windowtext face=Arial,sans-serif>Risks Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 95%" color=windowtext face=Arial,sans-serif> &#8211; composed by at least three and at most five members, all formally appointed and dismissed by the Board of Directors, including its coordinator. The purpose of the Committee is to advise the Board of Directors in the performance of its duties related to risk and capital management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Ombudsman</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>At the Special Shareholders' Meeting held in August 2007, our shareholders formalized the creation of the Ombudsman. Previously we had an informal Ombudsman. The Ombudsman works on behalf of all our institutions, authorized to operate by the Central Bank. There is one Ombudsman, with a two-year term. The Ombudsman is appointed and may be dismissed by the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Ombudsman is responsible for:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>checking strict compliance with legal and regulatory rules related to consumer's rights and acting as a communication channel among us and our institutions authorized to operate by the Central Bank, and our customers and users of its products and services, including mediating conflicts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receiving, registering, instructing, analyzing and formally and properly dealing with complaints from customers and users of products and services of the abovementioned institutions, not resolved by the usual services offered by the branches or by any other service station;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>giving necessary clarifications and replying to claimants regarding the status of complaints and the solutions offered;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>160</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>informing claimants of the waiting time for a final answer, which should not exceed ten business days, and may be extended, exceptionally and in a justified manner, only once, for an equal period limiting the number of extensions to 10.0% of total claims in the month, and the claimant must be informed of the reasons for the extension;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>sending a conclusive answer to the claimant's demand until expiration of the above waiting time;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>proposing to the Board of Directors corrective or improvement measures to procedures and routines based on the analysis of the complaints received; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>preparing and sending to the Board of Directors, the Audit Committee and the Internal Audit, at the end of each semester, a qualitative report regarding the Ombudsman's performance, comprising the proposals addressed in the prior item, if any.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to our Bylaws and in order to comply with the rules of the Central Bank, in March 2018, Nairo Jos&#233; Martinelli Vidal J&#250;nior was appointed by the Board of Directors as an Ombudsman, until the first Extraordinary Meeting of the Board of Directors to be held after the Annual Shareholders&#8217; Meeting of 2020.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Ombudsman may be dismissed by our Board of Directors at any time, during the term of his mandate, in cases of noncompliance with the obligations inherent to his position or if his performance is below expectation.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Legal Advice</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2018, envisaging the best practices of corporate governance, the Board of Directors established a supporting body called Legal Advice.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This body is formed by lawyers who have played important roles in the legal department of the Organization. The Legal Advice provides legal advice to the Board of Directors of the Bank and its affiliates, analysing documents and relevant contracts, participating in ordinary, extraordinary and corporate meetings, suggesting administrative and preventive measures related to legal activities, following the course of special proceedures in courts, as well as the evolution and effects of its respective judgements in the interest of the Organization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Internal Audit</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our internal audit area is directly subordinated to the Board of Directors and independently assesses business and information technology processes, contributing to the mitigation of risks, the sufficiency and effectiveness of internal controls, and compliance with internal and external policies, rules, standards, procedures, and regulations. The methodology and execution of the work are certified by the Brazilian Institute of Independent Auditors, which takes into account the technical recommendations of the Institute of Internal Auditors (&#8220;IIA&#8221;) in its assumptions.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577609"></A><A name="_Toc415063387"></A><A name="_Toc292442710"></A><A name="_Toc288278531"></A><A name="_Toc288271604"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>6.D. Employees</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had 98,808 employees, of which 86,101 were employed by us and 12,707 were employed by our subsidiaries, compared to 108,793 employees as of December 31, 2016 and 92,861 employees as of December 31, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table sets forth the number of our employees and a breakdown of employees by main category of activity and geographic location as of the dates indicated:</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>161</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

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   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total number of employees </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>98,808</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>108,793</FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>92,861</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number by category of activity</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bradesco </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>86,101</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>94,941</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>80,726</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Insurance activities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,367</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,700</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,556</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Pension plan activity </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>529</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>461</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>475</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other categories </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,811</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,691</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,104</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number by geographic location</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cidade de Deus, Osasco </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,238</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,568</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,603</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Alphaville, Barueri </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,711</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,348</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,593 </FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>S&#227;o Paulo </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,956</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,958</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16,296</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other locations in Brazil </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>68,610</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>76,651</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>63,127</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>International </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>293</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>268</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>242</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our part-time employees work six hours a day, while our full-time employees work eight hours a day, both in a five-day workweek. We had 24,982 part-time employees and 73,826 full-time employees as of December 31, 2017 compared to 28,505 part-time employees and 80,288 full-time employees as of December 31, 2016 compared to 26,159 part-time employees and 66,702 full-time employees as of December 31, 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We generally hire our employees at the entry level, and encourage them to remain with us throughout their careers. All employees are entitled, through internal hiring process, to fill new positions, including those in Middle Management, senior and managerial positions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, approximately 60.3% of our employees were associated with one of the labor unions that represent bank or insurance employees in Brazil. We maintain good relations with our employees as well as with their respective labor unions, which we believe is owing mostly to our policy of appreciating staff and having transparent relationships. We are party to two collective bargaining agreements: (i) one relating to our banking employees; and (ii) the other to our insurance sector employees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We offer our employees benefits which include our health and dental plans enabling beneficiaries to choose their doctors, hospitals and dentists anywhere in Brazil, retirement and pension plans, and life and accident insurance with varying coverages. We also have an employee support program &#8211; called &#8220;Lig Viva Bem,&#8221; offering 24-hour support and making available 100% confidential free-of-charge telephone calls. The team is composed of psychologists, social workers and other specialized professionals guiding and supporting employees and their dependents in relation to personal, professional, familiar, legal, nutritional and affective issues. These benefits are available regardless of an employee's position. Currently, 47.2% of our employees participate in our pension plan Bradesco Vida e Previd&#234;ncia. In accordance with our collective bargaining agreement, we also offer our employees profit-sharing compensation plans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Through </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Universidade Corporativa Bradesco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> - UniBrad (Bradesco Corporate University), whose mission is to provide professional education and social mobility, we offer development solutions and training to our employees. In 2017, we invested R$163.9 million in professional training with a total of more than 954.8 thousand participations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On July 13, 2017, we launched our Special Voluntary Severance Program Scheme (PDVE), pursuant to which we offered voluntary severance to certain of our employees.&nbsp; On September 11, 2017 we announced that approximately 7,400 employees had agreed to participate in this scheme.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577610"></A><A name="_Toc415063388"></A><A name="_Toc292442711"></A><A name="_Toc288278532"></A><A name="_Toc288271605"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>6.E. Share Ownership</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the members of our Board of Directors and Board of Executive Officers indirectly held 3.1% of our voting capital and 1.6% of our total capital stock, in aggregate, through a company called BBD Participa&#231;&#245;es S.A., or "BBD." In addition, some of our directors and executive officers directly hold shares of our capital stock. However, as of December 31, 2017, none of our directors and executive officers individually owned, directly or indirectly, more than 1.0% of any class of our shares.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>162</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577612"></A><A name="_Toc415063390"></A><A name="_Toc292442713"></A><A name="_Toc288278534"></A><A name="_Toc288271607"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>7.A. Major Shareholders</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, our capital stock was composed of 3,054,481,112 common shares (5,032,549 treasury shares) and 3,054,480,793 preferred shares (18,855,746 treasury shares), with no par value. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For information on shareholders' rights and our dividend distributions, see "Item 8.A. Consolidated Statements and Other Financial Information &#8211; Policy on dividend distributions" and "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Allocation of net income and distribution of dividends."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following chart illustrates our capital ownership structure as of December 31, 2017:</FONT></P>

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<IMG id=Imagem7 border=0 src="fp163a.jpg" width=643 height=440>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>163</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>7.A. Major Shareholders</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows the direct ownership of our outstanding common and preferred shares as at March 12, 2018, Cidade de Deus, Funda&#231;&#227;o Bradesco and NCF directly hold 5.0% or more of our securities with voting rights:</FONT></P>

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   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Shareholder</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=6 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number of shares, except %</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number of common shares</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;Common shares as a percentage of outstanding shares </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Number of preferred shares</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Preferred shares as a percentage of outstanding shares </FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Number of shares</FONT></B></P></TD>

   <TD style="HEIGHT: 12pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total shares as a percentage of outstanding shares </FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Cidade de Deus Participa&#231;&#245;es</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,474,977,056</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>48.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>735,456</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,475,712,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>24.3%</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funda&#231;&#227;o Bradesco<SUP>(1) </SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>520,497,027</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>520,497,027</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.6%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>NCF Participa&#231;&#245;es</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>257,206,261</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>68,173,264</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>325,379,525</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.3%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,252,680,344</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>73.9%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>68,908,720</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.2%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,321,589,064</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Members of the Board of Directors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Luiz Carlos Trabuco Cappi</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Carlos Alberto Rodrigues Guilherme</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Jo&#227;o Aguiar Alvarez</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Denise Aguiar Alvarez</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Milton Matsumoto</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Alexandre da Silva Gl&#252;her </FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Josu&#233; Augusto Pancini</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maur&#237;cio Machado de Minas</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Board of Directors</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13,665,554</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.4%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28,639,093</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.9%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>42,304,647</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.7%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Members of the Diretoria Executiva</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Octavio de Lazari Junior</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Marcelo de Ara&#250;jo Noronha</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Andr&#233; Rodrigues Cano </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Rog&#233;rio Pedro C&#226;mara</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Jo&#227;o Carlos Gomes da Silva</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Bruno D'Avila Melo Boetger</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Glaucimar Peticov</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Jos&#233; Ramos Rocha Neto</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total Members of the Diretoria Executiva </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,108</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,143,768</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1,186,876</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Subtotal </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,266,389,006</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>74.4%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>98,691,581</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.3%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,365,080,587</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>783,059,557</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>25.7%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2,936,933,466</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>96.7%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,719,993,023</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>61.1%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Outstanding Shares </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,049,448,563</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,035,625,047</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,085,073,610</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5,032,549</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18,855,746</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23,888,295</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>- </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,054,481,112</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3,054,480,793</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6,108,961,905</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>100.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom colSpan=7>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Also indirectly owns, through its interest in Cidade de Deus Participa&#231;&#245;es and Nova Cidade de Deus, and NCF Participa&#231;&#245;es, 39.9% of our common shares and 21.0% of our total shares.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" colSpan=7>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(*) None of the members of our Board of Directors, Board of Executive Officers or other administrative, supervisory or management bodies directly or beneficially holds 1.0% or more of any of our classes of shares, and their individual share ownership has not been previously disclosed to our shareholders or otherwise made public. </FONT><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>For more information, see "Item 6.E. Share Ownership".</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following is a description of our principal beneficial shareholders. None of the principal beneficial shareholders have voting rights that differ from those of the other holders of our common shares.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade de Deus Companhia Comercial de Participa&#231;&#245;es</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Cidade de Deus Companhia Comercial de Participa&#231;&#245;es is a holding company, which we refer to as "Cidade de Deus Participa&#231;&#245;es." </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>It directly holds 48.4% of our voting capital and 24.3% of our total capital. Its shareholders are: (i) Nova Cidade de Deus, with 45.5% of its common and total shares; (ii) Funda&#231;&#227;o Bradesco, with 33.6% of its common and total shares; and (iii) the Aguiar Family, with 20.9% of its common and total shares as of December 31, 2017. The company's capital stock is made up of common, nominative book-entry shares, with no par value.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Nova Cidade de Deus Participa&#231;&#245;es</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Nova Cidade de Deus Participa&#231;&#245;es is a holding company which we refer to as &#8220;Nova Cidade de Deus.&#8221; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>It holds investments in other companies, mainly those that, directly or indirectly, own our voting capital. As of December 31, 2017, the company owned, through its participation in Cidade de Deus Participa&#231;&#245;es, 23.5% of our common shares and 12.0% of our total shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The capital stock of Nova Cidade de Deus is divided in class A and class B common shares and one class of preferred shares. Ownership of the class B common shares is limited to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>members of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>164</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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&nbsp; <A name="page_165"></A>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader165"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>7.A. Major Shareholders</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>members of our Board of Directors </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>who have been officers of Banco Bradesco or its controlled entities</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>commercial or civil associations in which the majority of the voting interest is owned by the individuals above.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Ownership of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Nova Cidade de Deus'</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> class A common shares is limited to the persons entitled to own class B common shares and any civil associations and private foundations managed by them or their appointed representatives. Only the class A and class B common shareholders in Nova Cidade de Deus have voting rights.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Aguiar Family</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, the members of the Aguiar Family and the estate of Mr. Amador Aguiar indirectly owned, by way of their participation in Cidade de Deus Participa&#231;&#245;es, 10.8% of our common shares and 5.5% of our total shares. In addition, the same parties directly held a total of 1.3% of our common shares, 2.4% of our preferred shares, which correspond to 1.8% of our total shares. None of the members of the Aguiar Family individually or directly holds more than 1.0% of our voting shares.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, Funda&#231;&#227;o Bradesco owned 57.0% of our common shares, 2.0% of our preferred shares and 29.5% of our total shares, directly and indirectly, through its participation in Cidade de Deus Participa&#231;&#245;es, Nova Cidade de Deus and NCF. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the terms of Funda&#231;&#227;o Bradesco's bylaws, all of our directors, members of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and department officers, as well as directors and officers of Cidade de Deus Participa&#231;&#245;es, serve as members of the board of trustees of Funda&#231;&#227;o Bradesco, known as the "Board of Trustees." They receive no compensation for their service on the Board of Trustees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco is one of the largest private socio-educational programs in Brazil, it is an innovative social investment initiative which reaches every state in Brazil and the Federal District, and its 40 schools are primarily located in regions of accentuated educational deprivation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, a total of 96,754 students attended Funda&#231;&#227;o Bradesco schools from early childhood through to secondary school, and secondary-level vocational or technical education, as well as courses for young people and adults and initial and continuing education for employment and income. In addition to quality formal education free of charge, more than 42,000 elementary school students are also provided with school uniforms, classroom stationery, meals, and medical and dental care.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our "Virtual School" e-learning portal's distance learning programs (&#8220;EaD&#8221;), benefited more than 608,000 students who completed at least one of &nbsp;more than 90 courses offered, and another 15,101 students were involved in projects and&nbsp;partnership initiatives such as our "Educate - Act" (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Educa+A&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>) program, and technology courses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The IT for the Visually Handicapped Program has benefited and trained 12,663 students and fostered social inclusion for thousands of people.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Funda&#231;&#227;o Bradesco's 2017 budget totaled R$624.4 million. Over the last 10 years, Funda&#231;&#227;o Bradesco has invested a total of R$6.5 billion (at current values) in the foundation.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>BBD</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>BBD indirectly owned 6.1% of our common shares and 3.1% of our total shares as of December 31, 2017, through its participation in Nova Cidade de Deus. BBD is a holding company that was organized to hold interests in our capital and in the capital of our indirect and direct shareholders. In 1999, BBD acquired from several shareholders an indirect interest of 5.5% of our voting capital. Only members of the Board of Directors and of the Board of Executive Officers, as well as our skilled employees, of Bradespar, or of our subsidiaries and national not-for-profit legal entities or national companies controlled by them that have as managers only our employees and/or managers, may hold BBD shares. However, only the members of the Board of Directors and Executive Officers may own voting shares. Most of our Board members and Executive Officers own shares in BBD.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>NCF </FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>NCF is a holding company controlled by Cidade de Deus Participa&#231;&#245;es and by Funda&#231;&#227;o Bradesco. As of December 31, 2017, NCF held 8.4% of our common shares and 5.3% of our total shares.</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>165</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>7.B. Related Party Transactions</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Market</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Direct market holdings represented 26.1% of our voting capital as of December 31, 2017 and 97.7% of our preferred shares. Common and preferred shares held by the market accounted for 61.9% of our share capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, 1,284 foreign investors with a stake in our share capital in the amount of: (i) 57.4% of preferred shares; and (ii) 10.8% of common shares. Of the reported percentages, the GDRs (Global Depositary Receipts) accounted for 0.01% of preferred shares and the ADRs (American Depositary Receipts) accounted for 26.7% of preferred shares and 0.03% of common shares.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577613"></A><A name="_Toc415063391"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>7.B. Related Party Transactions</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Transactions with controllers, joint control and related parties, and key management personnel are conducted on arms' length terms as demonstrated below:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>December&nbsp;31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>ASSETS</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>724,369 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,033,479 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223,874 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other assets </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,572 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6,128 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,277 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>LIABILITIES</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,122,088)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,524,462)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (231,110)</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8,282,217)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6,977,691)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,509,577)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Corporate and statutory obligations</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,275,419)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,770,149)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,279,382)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other liabilities </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8,827,877)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13,704)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24,811)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>INCOME AND EXPENSES</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Net interest income</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (931,206)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,280,078)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (167,583)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other income/expense</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149,629 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133,451 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88,406 </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the Laws No. 4,595/64 and No. 7,492/86 and CMN Resolution No. 4,596/17, financial institutions cannot </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>perform operations that figure as</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> the granting of loans or advances to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>its controllers (individuals or legal entities), pursuant to Article 116 of Law No. 6,404/76</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as their spouses, partners and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their direct relatives, in the collateral line or affinity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, up to the second degree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>officers, managers, members of the fiscal council, of the audit committee and members of statutory or contractual bodies</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, as well as their spouses, partners and </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their direct relatives, in the collateral line or by affinity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, up to the second degree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>individuals and their spouses or partners, as well as legal entities with a direct or indirect equity </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>interest with percentage equal to or greater than 10%; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>legal entities: (i) with qualified equity interest; (ii) in which capital, directly or indirectly, there is qualified equity interest; (iii) in which there is effective operational control or relevance in the deliberations, regardless of equity interest; and (iv) that have an officer or member of the board of directors in common.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 6pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN Resolution No. 4,596/17 also established the definition of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>qualified or relevant </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>equity interest</FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> for purposes of the grant of loans or advances by financial institutions</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 56.7pt; TEXT-INDENT: -17pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the entity that holds, directly or indirectly, 10% or more of the capital of the legal entity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 56.7pt; TEXT-INDENT: -17pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>managers or officers </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>and their respective spouses or partners</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> and</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>their direct relatives, in the collateral line or by affinity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>up to the second degree</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>of the entity who hold, together or separately</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>directly or indirectly 10% or more of the capital of the legal entity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>166</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>7.C. Interests of Experts and Counsel</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt 56.7pt; TEXT-INDENT: -17pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>partners or shareholders who hold 10% or more of the financial institution's capital with, directly or indirectly, 10% or more of the capital of the legal entity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>; and </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 10pt 56.7pt; TEXT-INDENT: -17pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the financial institution and the legal entity that have a manager or officer in common</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial institutions must keep specific and updated records of the names of legal entities, natural persons and their direct relatives, in the collateral line or by affinity, up to the second degree, which fall in the rules above</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>. For further details on restrictions on the operations of financial institutions, see "Item 4.B. Business Overview &#8211; Regulation and Supervision &#8211; Bank regulations &#8211; Principal limitations and restrictions on activities of financial institutions."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For further information on related party transactions, see Note 40 to our consolidated financial statements in &#8220;Item 18. Financial Statements.&#8221;</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577614"></A><A name="_Toc415063392"></A><A name="_Toc292442715"></A><A name="_Toc288278536"></A><A name="_Toc288271609"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>7.C. Interests of Experts and Counsel</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577615"></A><A name="_Toc415063393"></A><A name="_Toc292442716"></A><A name="_Toc288278537"></A><A name="_Toc288271610"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 8. FINANCIAL INFORMATION</FONT></B></H1></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 18. Financial Statements," which contains our audited consolidated financial statements prepared in accordance with IFRS.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Legal proceedings </FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are a party to civil, tax and labor administrative proceedings and lawsuits that have arisen during the normal course of our business. We do not have any litigation matters that are significant on an individual basis. We believe that there are no suits pending or threatened, individually or in the aggregate, that if decided against us would have a material adverse effect on our business, financial condition, properties, prospects or results of operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, we had provisions of R$18,491 million, 30.0% related to labor matters, 28.9% related to civil liability cases and 41.1% related to tax issues. For additional information, see Note 37 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Probable losses recognized in our consolidated financial statements refer to tax and social security matters related to inflation adjustments and legality of certain taxes and contributions. The remaining litigation, where the probability of loss is considered as possible based on our judgment using available information, are related to tax assessments, in the amount of R$18,853 million as of December 31, 2017 (R$16,483 million in 2016). We believe these tax assessment notices are inconsistent with current law and are therefore not recognized in our consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We believe that as of December 31, 2017, we have set aside sufficient funds as provisions to cover our probable losses from litigation, subject to the inflation-indexation requirement for provisions relating to certain tax matters.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Labor matters</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8211; The labor matters in which we were involved during the year ended December 31, 2017 are mainly claims brought by former employees and outsourced employees seeking indemnifications, especially for unpaid overtime, according to Article 224 of the Consolidation of Labor Laws (CLT). In proceedings in which a judicial deposit is used to guarantee the execution of the judgment, the labor provision is made considering the estimated loss of these deposits. For proceedings with similar characteristics, the provision is recorded based on the average calculated value of payments made for labor complaints settled in the past 12 months; and proceedings originating from acquired banks, with unique characteristics, the calculation and assessment of the required balance is conducted periodically, based on the updated recent loss history. Overtime is monitored by using electronic time cards and paid regularly during the employment contract and, accordingly, the claims filed by our former employees do not represent significant amounts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tax-related matters</FONT></U></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; We are also a party to a number of judicial lawsuits and administrative proceedings, mainly involving issues related to constitutionality and fair interpretation of some tax requirements. Some claims relate to the non-payment of taxes which we are contesting; others stem from collections (notifications) of supervisory agencies of the Ministry of Finance and others aim at recovering taxes we understand have already been paid or unduly paid. The amounts we have not paid in view of these </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>8.A. Consolidated Statements and other Financial Information</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>claims have in general been provisioned in conformity with applicable accounting rules and are restated based on criteria established by tax legislation. On the other hand, those taxes to be refunded are only recorded when the prospect of realizing these assets is practically certain. See Note 17 to our consolidated financial statements for a description of our most relevant tax claims.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Civil matters</FONT></U></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; We are a party to various civil lawsuits, although none of them are material. Lawsuits consist mainly of claims for indemnification for presumed damages caused during the ordinary course of business activities and cases where inflation indices were not applied to the adjustment of saving accounts as a result of economic plans, although we complied with the law in force at the time. For more information on lawsuits in relation to economic plans, see &#8220;Item 3.D. Risk Factors &#8211; Risks relating to us and the Brazilian banking industry &#8211; The Brazilian Supreme Court is currently deciding cases relating to the application of inflation adjustments which may increase our costs and cause losses.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Probable risk cases are all provisioned, and do not incur in a material adverse effect on our results of operations or financial position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other matters</FONT></U></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; We are currently not subject to any significant disputed processes with the Central Bank, CVM, ANS or SUSEP. We comply with all regulations applicable to the business, issued by the aforementioned regulatory bodies.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Policy on dividend distributions</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws require our Board of Directors to recommend, at each annual shareholders' meeting, that our net income for the fiscal year (in accordance with BR GAAP) be allocated as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.0% for the legal reserve, not exceeding 20.0% of the paid-up capital in each fiscal year. This requirement shall not be applicable in fiscal years when the legal reserve, added to our other capital reserves, exceeds 30.0% of our paid-up capital;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>an amount (to be determined by our shareholders based on probable potential losses) to a contingency reserve against future losses;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>at least 30.0% (after the deductions for the legal reserves and contingencies) for mandatory distribution to our shareholders; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>any outstanding balance to a statutory profit reserve for the maintenance of an operating margin that is compatible with our credit businesses, up to a limit of 95.0% of our paid-up capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws also authorize our shareholders to allocate an amount to a reserve for realizable revenue. Our shareholders have never allocated amounts to such reserve.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A minimum of 30.0% of our net income must be distributed as annual dividends and must be paid out within 60 days following the annual shareholders' meeting. However, Brazilian Corporate Law permits us to suspend payment of the mandatory dividends if our Board of Directors reports, at the shareholders' meeting, that the distribution would be incompatible with our financial condition, and our shareholders approve the suspension by a simple majority vote. Under the Brazilian Corporate Law, the Board of Directors shall file a report with the CVM, justifying the suspension, within five days after the Annual Shareholders' Meeting. The income not distributed as dividends due to suspension must be allocated to a special reserve. If it is not absorbed by subsequent losses, the amount in the reserve shall be paid as dividends as soon as our financial situation allows us to.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Preferred shareholders are entitled to receive dividends per share in an amount 10.0% greater than the dividends per share paid to common shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, subject to approval by the Board of Directors, may distribute dividends based on the profits reported in interim financial statements. The amount of distributed interim dividends shall not exceed the amount of the additional paid-in capital. Our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> bases the amount of the interim dividends to be distributed on previously accumulated profits or retained earnings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since 1970, we have been distributing interim dividends on a monthly basis. Today we maintain an automatic system for the monthly payment of interest on equity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Consistent with Brazilian law, our Bylaws allow our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, upon approval by the Board of Directors, to make distributions in the form of interest on equity instead of dividends. Payments of interest on equity may be included as part of any mandatory dividends. Since July 1997, we have made monthly payments of interest on equity at an amount approved by our Board of Directors before the statement of dividends at the end of each fiscal year. The amounts paid as interest on equity, net of income tax, are </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>168</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>8.B. Significant Changes</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>discounted from the amount of dividends declared.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Brazilian law, a shareholder who does not receive a dividend payment may start a proceeding for the collection of these payments within three years following the dividends statement date. After this period, unclaimed dividends return to the company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our policy relating to dividend distributions and/or interest on equity is to maximize the amount of distributions, in accordance with our tax management strategy. For additional information, see "Item 5.A. Operating Results &#8211; Overview &#8211; Taxes."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577617"></A><A name="_Toc415063395"></A><A name="_Toc292442718"></A><A name="_Toc288278539"></A><A name="_Toc288271612"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>8.B. Significant Changes</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 4.A. History and Development of the Company &#8211; Recent Acquisitions."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577618"></A><A name="_Toc415063396"></A><A name="_Toc292442719"></A><A name="_Toc288278540"></A><A name="_Toc288271613"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 9.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; FONT-WEIGHT: normal; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>THE OFFER AND LISTING</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577619"></A><A name="_Toc415063397"></A><A name="_Toc292442720"></A><A name="_Toc288278541"></A><A name="_Toc288271614"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>9.A. Offer and Listing Details</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our ADSs are traded on the New York Stock Exchange (&#8220;NYSE&#8221;), under the symbols &#8220;BBD&#8221; (preferred share ADSs) and &#8220;BBDO&#8221; (common share ADSs).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our preferred share ADSs were first listed on the NYSE in 2001. Each preferred share ADS corresponds to one preferred share.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>An increase to our capital stock by R$8,000,000 thousand was approved at the special shareholders&#8217; meeting of March 12, 2018 and by the Central Bank on March 16,2018, increasing the capital stock from R$59,100,000 thousand to R$67,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &#8220;Profit Reserves - Statutory Reserve&#8221;, in compliance with the provisions in Article 169 of Brazilian Corporate Law, issuing 610,896,190 new nominative-book entry shares, with no nominal value, whereby 305,448,111 are common and 305,448,079 are preferred shares, which will be attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type, the shareholders registered with us on March 29, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shares are listed in Brazil&#8217;s main stock indexes, including the indexes that measure the total return of a theoretical portfolio composed of 50 and 100 shares, IBrX-50 and IBrX-100, respectively, selected from among the most traded shares on B3; the IBrA (Broad Brazil Index); the IFNC (Financial Index, composed of banks, insurance companies and financial institutions); the ISE (Corporate Sustainability Index); the IGCX (Special Corporate Governance Stock Index); the IGCT (Corporate Governance Trade Index); the ITAG (Special Tag-Along Stock Index), the index composed of shares of companies listed in the IBrX-50 index and that accepted taking part in this initiative by adopting transparent greenhouse gas emission practices (ICO2); and the Mid-Large Cap Index &#8211; MLCX (which measures the return of a portfolio composed of the highest capitalization companies listed). Abroad, our shares are listed on the Dow Jones Sustainability World Index, in the Dow Jones Sustainability Emerging Markets portfolio of the NYSE, and on the FTSE Latibex Brazil Index of the Madrid Stock Exchange.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2012, the Central Bank authorized our creation of an ADR program for our common shares in the USA market. As part of this authorization, and after government had affirmed it as being in its interest, the Central Bank increased the limit of foreign interest in our capital stock from 14.0% to 30.0%. The increase in the limit of foreign interest in our common shares did not alter our ownership or control structure. In March 2012, our common share ADSs became listed on the NYSE under the symbol "BBDO." Each common share ADS corresponds to one common share. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following tables show, for the indicated period, the reported high and low sale prices in nominal</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> reais </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>for the preferred and common shares on B3:</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>in R$</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average monthly trading volume <SUP>(1)</SUP></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Price per Preferred share<SUP> (1)</SUP></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>High</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Low</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Shares (in units)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2011</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.51</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.83</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>208,359,043</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2012</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.64</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.77</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>227,405,608</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.78</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.93</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>254,625,230</FONT></P></TD></TR>

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   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.07</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.89</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>279,435,051</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.25</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>13.08</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>294,060,547</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.85</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.64</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>435,512,473</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.10</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.87</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>289,987,503</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.37</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>253,436,194</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>26.35</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20.96</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>267,865,242</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27.43</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.61</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>223,553,106</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28.17</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.36</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>257,930,607</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32.31</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>24.21</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>220,202,803</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>33.04</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28.32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>203,905,607</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>January</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38.10</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>30.86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>238,201,370</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>February</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>37.03</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>33.26</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>269,691,950</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>March</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36.39</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>34.11</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>220,851,400</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> Prices and amounts adjusted by income and other corporate events.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Source: Economatica.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="32%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>in R$</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average monthly trading volume <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Price per Common share <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>High</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Low</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Shares (in units)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2011</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.42</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.29</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>30,679,937</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>16.57</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.22</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40,130,117</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>19.39</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.63</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>53,300,356</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.06</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.25</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40,327,037</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.29</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>14.17</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43,654,116</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.22</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.38</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>51,922,266</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.99</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>18.28</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,178,141</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.48</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20.33</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>34,544,935</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>25.08</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>20.80</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,702,164</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27.18</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>22.76</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>38,640,463</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>27.29</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>21.99</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>33,471,258</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31.18</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.75</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>25,669,563</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31.70</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>26.14</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36,581,930</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Janury</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>36.75</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>29.07</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>29,663,370</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>February</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>35.69</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>31.16</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>33,912,560</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>March</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>35.28</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>32.73</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>28,085,200</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> Prices and amounts adjusted by income and other corporate events.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Source: Economatica.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows, for the indicated periods, the reported high and low closing sale prices in U.S. dollars for the preferred share ADSs on the NYSE:</FONT></P>

<a name="_bclFooter170"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>170</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_171"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader171"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>9.A. Offer and Listing Details</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="32%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>in U$$</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average monthly trading volume <SUP>(1)&nbsp;</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Price per preferred share ADS <SUP>(1)&nbsp;</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>High</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Low</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Preferred share ADS <BR>(in units)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2011</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.15</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.05</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>378,172,962</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.46</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.86</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>320,952,035</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.98</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.75</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>259,120,694</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.86</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.30</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>295,743,325</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.65</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.23</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>358,734,340</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.47</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>442,633,975</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.11</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.63</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>355,308,023</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.26</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.72</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>281,390,978</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.24</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.17</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>337,774,646</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.94</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.12</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>252,139,902</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.08</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>321,186,846</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.30</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.36</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>222,528,635</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.49</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.49</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>192,766,957</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>January</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.97</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.51</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>210,989,579</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>February</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.39</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.00</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>202,147,418</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="32%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>March</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.28</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.24</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>188,519,575</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> Prices and amounts adjusted by income and other corporate events.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Source: Economatica.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our common share ADSs have been traded on the NYSE since March 2012. The following table shows, for the indicated periods, the reported high and low closing sale prices in U.S. dollars for the common share ADSs on the NYSE:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="31%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>in U$$</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average monthly trading volume <SUP>(1)&nbsp;</SUP></FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Price per common share ADS <SUP>(1)&nbsp;</SUP></FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="25%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>High</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Low</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Common share ADS (in units)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.03</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.20</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>73,994</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.77</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.88</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>95,004</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.78</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.07</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>65,720</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.72</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.32</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>99,222</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.20</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2.87</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>127,246</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.63</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.94</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>83,004</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.35</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.62</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>105,519</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.98</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.98</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>68,633</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1st Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.75</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.19</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>124,126</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2nd Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.67</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.55</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>238,418</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3rd Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.42</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>6.80</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>221,124</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4th Quarter </FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>10.27</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>7.75</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>141,537</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2018</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>January</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.89</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>8.48</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>192,194</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>February</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>11.22</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>9.39</FONT></P></TD>

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>184,665</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="31%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>March</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10.92</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>9.63</FONT></P></TD>

   <TD style="HEIGHT: 1pt; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>67,089</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

   <TD style="HEIGHT: 1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=4 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> Prices and amounts adjusted by income and other corporate events.</FONT></P></TD></TR>

<TR style="HEIGHT: 1pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Source: Economatica.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shares are registered in book-entry form and we perform all the services of safe-keeping and transfer of shares. Our shareholders may choose to hold their shares registered at the Stock Exchange of B3 (former Brazilian Clearing and Depository Corporation - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Companhia Brasileira de Liquida&#231;&#227;o e Cust&#243;dia</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> &#8211; CBLC). Under Brazilian law, non-Brazilian holders of our shares may be subject to certain adverse tax consequences due to their ownership and any transfer of our shares. For further discussion of the restrictions on the transfer of preferred shares, see "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Form and transfer" and "Item 10.D. Exchange Controls."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs and common share ADSs are represented by preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADRs and common share ADRs. Our preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs and common share ADSs may be held in registered form </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>171</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>9.B. Plan of Distribution</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>with the depository &#8211; The Bank of New York Mellon &#8211; or in book entry form through financial institutions that are members of the "Depository Trust Company" or DTC. The depositary bank, as registrar, performs the services of transfer of the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADRs and common share ADRs. Title to an preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADR or common share ADR (and to each preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADS or common share ADS evidenced thereby), when properly endorsed or accompanied by proper instruments of transfer, is transferable by delivery with the same effect as in the case of a certificated security under the laws of the State of New York. Holders of the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADRs and common share ADRs who transfer their preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADRs and common share ADRs may be required to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reimburse the depositary bank for any taxes, governmental charges or fees the depositary bank has paid;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pay any transfer fees as required by the deposit agreements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>produce satisfactory proof of identity and genuineness of their signatures or any other documents required by the deposit agreements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>comply with any United States, Brazilian or other applicable laws or governmental regulations; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>comply with such reasonable regulations, if any, as we and the depositary bank may establish consistent with the deposit agreements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>All of our outstanding shares are fully paid and non-assessable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The rights of holders of our preferred shares are limited in comparison with those of the holders of common shares in several material ways:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>each common share entitles the holder to one vote at shareholders' meetings, while holders of preferred shares are only entitled to a vote in the limited circumstances described in "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Voting rights;" and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the nature of preferred shareholders' preemptive rights to subscribe for shares or convertible securities depends on the proportion of capital that would be represented by preferred shares after the capital increase, as described under "Item 10.B. Memorandum and Articles of Association &#8211; Organization &#8211; Preemptive rights."</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The holders of the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs and common share ADSs have the rights corresponding to the underlying shares, subject to the Deposit Agreements. Owners of the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs and common share ADSs are parties to the Deposit Agreements and therefore are bound to its terms and to the terms of the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADRs and common share ADRs that represent the preferred share</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs and common share ADSs.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577620"></A><A name="_Toc415063398"></A><A name="_Toc292442721"></A><A name="_Toc288278542"></A><A name="_Toc288271615"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>9.B. Plan of Distribution</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577621"></A><A name="_Toc415063399"></A><A name="_Toc292442722"></A><A name="_Toc288278543"></A><A name="_Toc288271616"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>9.C. Markets</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 18pt" face=Arial,sans-serif>Trading on the B3</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>B3 is a publicly traded corporation. Beginning in April 2000, the Brazilian stock exchanges were reorganized through the execution of protocols of intention by the Brazilian stock exchanges. Until April 2004, all shares underlying securities were traded only on the B3, with the exception of privatization auctions, which occurred on the Rio de Janeiro Stock Exchange. In May 2004, the Rio de Janeiro Stock Exchange reopened for the trading of certain Brazilian government securities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>If you were to trade in our shares on the B3, your trade would settle in three business days after the trade date. The seller is ordinarily required to deliver the shares to the exchange on the third business day following the trade date. Delivery of and payment for shares are made through the facilities of the Central Depository of B3.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The B3 is less liquid than the NYSE or other major exchanges in the world. As of December 31, 2017, the aggregate market capitalization of the 371 companies listed on the B3, was equivalent to US$954.8 billion and the 10 largest companies listed on the B3 represented 52.2% of the total market capitalization. Although any of the outstanding shares of a listed company may trade on a Brazilian stock exchange, in most cases fewer than half of the listed shares are actually available for trading by the public, </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>172</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>9.C. Markets</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the remainder being held by a small group of controlling persons, by governmental entities or by one principal shareholder. As of December 31, 2017, we accounted for 6.3% of the market capitalization of all listed companies on the B3.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Trading on Brazilian stock exchanges by a holder not deemed to be domiciled in Brazil for Brazilian tax and regulatory purposes (a "non-Brazilian holder") is subject to certain limitations under Brazilian foreign investment legislation. With limited exceptions, non-Brazilian holders may only trade on Brazilian stock exchanges in accordance with the CMN requirements. Investments made by foreigners on stock exchanges were traditionally regulated by Resolution No. 2,689/00, which required that securities held by non-Brazilian holders were maintained in the custody of or in deposit accounts with financial institutions duly authorized by the Central Bank and the CVM. In addition, Resolution No. 2,689/00 required non-Brazilian holders to restrict their securities trading to transactions on Brazilian stock exchanges or qualified over-the-counter markets. With limited exceptions, according to Resolution No. 2,689/00, non-Brazilian holders should not transfer to other non-Brazilian holders the ownership of investments. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In September 2014, the CMN issued Resolution No. 4,373/14, amending and improving the provisions for (i) foreign investments through a depositary receipt mechanism; and (ii) investments made by non-resident investors in the financial and capital markets in Brazil. The main changes were: (a) increasing the number of instruments that may be issued through depositary receipts; (b) making it possible for non-resident investors to invest in financial and capital markets without having previously entered into foreign exchange operations; (c) clarifying the criteria for simultaneous foreign exchange operations; and (d) increasing the responsibility of the non-resident investor&#8217;s representative. CMN Resolution No. 4,373/14 became effective in March 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;See "Item 10.D. Exchange Controls" for further information about CMN Resolution No. 4,373/14, and "Item 10.E. Taxation &#8211; Brazilian tax considerations &#8211; Taxation of gains" for a description of certain tax benefits extended to non-Brazilian holders who qualify under CMN Resolution No. 4,373/14.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Corporate governance practices of B3</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2000, B3 introduced three special listing segments known as &#8220;Levels 1 and 2 of Differentiated Corporate Governance Practices and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Novo Mercado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" with the purpose of stimulating the secondary market of securities issued by Brazilian companies listed on B3, encouraging these companies to follow good corporate governance practices. B3 subsequently introduced two new segments called "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bovespa Mais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&#8221; and &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Bovespa Mais N&#237;vel 2</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>,&#8221; specifically for small- and medium-scale companies. The listing segments were designed for the trading of shares issued by companies that voluntarily commit themselves to follow corporate governance practices and disclosure requirements beyond those required by Brazilian legislation. These rules generally increase shareholders' rights and increase the quality of the information made available to shareholders. Newly amended rules for Levels 1 and 2 of Differentiated Corporate Governance Practices came into effect in May 2011.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>To become a "Level 1" company, the issuer must agree to the following requirements, in addition to those imposed by applicable law: (i) ensure that the shares that represent at least 25.0% of its total capital are actually available for trading; (ii) adopt offering procedures that favor the widespread ownership of the shares whenever a public offer is made; (iii) comply with minimum standards for quarterly disclosure; (iv) follow stricter disclosure policies for transactions done by its controlling shareholders, members of its Board of Directors and executives that involve securities issued by the issuer; (v) submit any existing shareholders' agreement and stock option plans to B3; and (vi) prepare a schedule of corporate events and make it available to the shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>To become a "Level 2" company, the issuer must agree to the following requirements, in addition to those imposed by applicable law: (i) comply with all Level 1 listing requirements; (ii) grant tag-along rights to all shareholders in case the company's control is transferred, offering to common shareholders the same price paid per share for the controlling block of common and preferred shares; (iii) give holders of preferred shares voting rights for decisions on certain corporate restructurings and related-party transactions, such as: (a) conversions, acquisitions, mergers or splits; (b) approval of any transactions between the company and its controlling shareholder, if such decisions are within the competence of the general meeting; (c) valuation of assets to be used for payment of a share capital increase; (d) selecting an institution or specialized company to determine the economic value of the company; and (e) any alterations to these voting rights that will prevail as long as the agreement to adhere to the B3's &#8220;Level 2&#8221; segment is in force; (iv) the Board of Directors made up of at least five members of which at least a minimum of 20.0% shall be independent members with a term of office limited to two years, and re-election is permitted; (v) prepare financial statements in English, including the statement of cash flows, according to international accounting standards such as U.S. GAAP or IFRS; (vi) effect a tender offer by the company's controlling shareholder (the minimum price of the shares to be offered shall be determined by an assessment process), if the controlling </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>173</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>shareholder decides on the delisting from the "Level 2" segment; and (vii) exclusively adopt the B3 "Arbitration Board" rules for resolving any conflicts between the company and its investors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>To join B3's "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Novo Mercado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" segment, an issuer must meet all requirements described in "Levels 1 and 2," including the issuance of common shares only (with voting rights) and granting tag-along rights to all shareholders in case the company's control is transferred, offering the same price paid per share for the controlling block of shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In June 2001, we executed an agreement with B3 to list our shares in the "Level 1" segment, effective immediately after the disclosure of the offer's opening date in Brazil. We agreed to comply with and continue to comply with all of the "Level 1" listing requirements.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577622"></A><A name="_Toc415063400"></A><A name="_Toc292442723"></A><A name="_Toc288278544"></A><A name="_Toc288271617"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>9.D. Selling Shareholders</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577623"></A><A name="_Toc415063401"></A><A name="_Toc292442724"></A><A name="_Toc288278545"></A><A name="_Toc288271618"></A><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>9.E. Dilution</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577625"></A><A name="_Toc415063403"></A><A name="_Toc292442726"></A><A name="_Toc288278547"></A><A name="_Toc288271620"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 10.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; FONT-WEIGHT: normal; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADDITIONAL INFORMATION</FONT></B></H1></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information on our capital stock, see Note 39 to our consolidated financial statements in "Item 18. Financial Statements."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577627"></A><A name="_Toc415063405"></A><A name="_Toc292442728"></A><A name="_Toc288278549"></A><A name="_Toc288271622"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.B. Memorandum and Articles of Association </FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We are a publicly traded company duly registered with the CVM under No. 00090-6. Article 5 of our Bylaws establishes our purpose as carrying out banking transactions in general, including foreign exchange activities.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Organization</FONT></I></B></H5>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Qualification of directors</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Since the promulgation of Law No. 12,431/11, which amended Law No. 6,404/76, members of the Board of Directors are no longer required to be shareholders of the companies in which they occupy these positions. Neither do they have to meet residency requirements to be eligible for Board member positions.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Allocation of net income and distribution of dividends</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws, in conformity with the Brazilian Corporate Law, require the Board of Directors to recommend, at each Annual Shareholders' Meeting, the allocation of net income for the fiscal year as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>5.0% of net income determined in accordance with BR GAAP to a legal reserve, during each fiscal year, not to exceed 20.0% in the aggregate of our paid-in capital. This requirement shall not be applicable in fiscal years when the legal reserve, added to our other additional paid-in capital, exceeds 30.0% of our paid-in capital;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>upon proposal by our Management, an amount to a contingency reserve against future losses, which amount is determined by our shareholders on the basis of what potential losses they consider probable. Historically, our shareholders never allocated profits to this reserve;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>at least 30.0% of net income according to BR GAAP (adjusted by the deductions under the preceding items) for mandatory distribution to our shareholders; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>any balance to revenue reserves for the maintenance of an operational margin that is compatible with the conduct of our lending business, up to a limit of 95.0% of our paid-in capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws also authorize our shareholders to allocate an amount to a reserve for realizable </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>174</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.B. Memorandum and Articles of Association </U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>revenue. Historically, our shareholders have not allocated amounts to such reserve.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The minimum of 30.0% of our adjusted net income according to BR GAAP must be distributed as annual dividends and paid out within 60 days of the general shareholders&#8217; meeting in which the distribution is approved. However, Brazilian Corporate Law permits us to suspend payment of the mandatory distribution if our Board of Directors reports to the shareholders&#8217; meeting that the distribution would be incompatible with our financial condition, in which case the suspension is subject to approval by the shareholders' meeting. Under Brazilian Corporate Law, the Fiscal Council shall prepare a report on this matter and the Board of Directors is obligated to present a justification for the suspension with the CVM within five days of the shareholders&#8217; meeting. The income not distributed due to the suspension must be allocated to a special reserve. If not absorbed by subsequent losses, the amounts in the reserve shall be paid as dividends as soon as our financial situation permits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Preferred shareholders are entitled to receive dividends per share in an amount 10.0% greater than the dividends per share paid to the common shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian law, we must prepare financial statements according to BR GAAP on a quarterly and annual basis and according to IFRS on an annual basis. Our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, with approval of the Board of Directors, may distribute dividends based on the profits reported in interim financial statements. Our Bylaws provide for the payment of interim dividends, which cannot exceed the amount of our retained earnings or our profit reserves contained in our last, annual or bi-annual financial statements. Our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> bases the amount of the interim dividends on previously accrued or retained earnings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Between March and October 2013, the Central Bank issued several rules related to the implementation of the Basel III Accord requirements in Brazilian banks. Pursuant to Article 9 of Resolution No. 4,193/13, a financial institution in breach of the additional capital requirements will be subject to restrictions by the Central Bank, including the distribution of dividends and payment of extraordinary amounts to the institution&#8217;s officers and executives. Such restriction can be applied proportionally to the difference between the required additional capital and the actual additional capital, as follows: (i) if the actual capital is less than 25.0% of the required capital, restriction of up to 100% on distributions; (ii) if the actual capital is 25.0% or higher and below 50.0% of the required capital, restriction of up to 80.0% on distributions; (iii) if the actual capital is 50.0% or higher and below 75.0% of the required capital, restriction of up to 60.0% on distributions; and (iv) if the actual capital is 75.0% or higher and below 100% of the required capital, restriction of up to 40.0% on distributions. We are currently in compliance with all capital requirements.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Shareholders&#8217; meetings </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shareholders have the power to decide any matters related to our corporate purpose and to approve any resolutions they deem necessary for our protection and development, through voting at a general shareholders' meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As from the Annual Shareholders&#8217; Meeting of 2013, shareholders resolved that our meetings shall be convened by the publication of call notices in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Di&#225;rio Oficial do Estado de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> (Official Gazette of the State of S&#227;o Paulo) and the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Valor Econ&#244;mico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> newspaper, all in the State of S&#227;o Paulo. The notice must be published three times, beginning at least 30 calendar days prior to the scheduled meeting date. The notice must contain the meeting&#8217;s agenda and, in the case of a proposed amendment to our Bylaws, an indication of the subject matter.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Board of Directors, or, in some specific situations set forth in the Brazilian Corporate Law, the shareholders, may call our general shareholders' meetings. A shareholder may be represented at a general meeting by an attorney-in-fact so long as the attorney-in-fact was appointed within less than a year of the meeting. The attorney-in-fact must be a shareholder, a member of our Management, a lawyer or a financial institution and for investment funds, the fund manager is responsible for representing quota holders. Shareholders that are legal entities may also be represented by their own legal representatives. The power of attorney given to the attorney-in-fact must comply with certain formalities set forth by Brazilian law.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In order for a shareholders&#8217; meeting to validly take any action, shareholders representing at least one quarter of our issued and outstanding common shares must be present at the meeting. However, in the case of a shareholders&#8217; meeting to amend our Bylaws, shareholders representing at least two-thirds of our issued and outstanding common shares must be present. If no such quorum is verified, the Board of Directors may call a second meeting by notice given at least eight calendar days prior to the scheduled meeting and otherwise in accordance with the rules of publication described above. The quorum requirements will not apply to a second general meeting, subject to the quorum requirements applicable to the first one.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2017, we adopted a remote voting system at our Shareholder&#8217;s Meetings, in accordance with Article 21-A of CVM Instruction No. 481/09, as amended.</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Voting rights</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Each common share entitles its holder to the right of one vote at our shareholders' meetings. Except as otherwise provided by law, the decisions of a shareholders&#8217; meeting are passed by a vote by holders of a simple majority of our common shares, while abstentions are not taken into account.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In March 2002, the Brazilian Corporate Law was amended to, among other issues, grant more protection to minority shareholders and ensure them the right to appoint one member and an alternate to our Board of Directors. To qualify for the exercise of such right, the minority shareholder must have held, for at least the prior three months either: (i) preferred shares representing the minimum of 10.0% of our capital stock; or (ii) common shares representing at least 15.0% of our voting shares. If no shareholders meet the thresholds, shareholders representing at least 10.0% of our capital stock may be able to combine their holdings to appoint one member and an alternate to our Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Corporate Law provides that non-voting preferred shares acquire voting rights when a company has failed for the term provided for in its bylaws (for more than three fiscal years) to pay any fixed or minimum dividend to which such shares are entitled. Such voting rights remain effective until payment of the cumulative dividends is made.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Shareholders</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Brazilian law, the approval of the holders of a majority of the outstanding adversely affected preferred shares as well as shareholders representing at least one-half of the issued and outstanding common shares is required for the following actions:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>creating or increasing an existing class of preferred shares without preserving the proportions of any other class of the existing shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>changing a preference, privilege or condition of redemption or amortization of any class of preferred shares; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>creating a new class of preferred shares that has preference, privilege or condition of redemption or amortization superior to the existing classes of preferred shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These actions are put to the vote of the holders of the adversely affected preferred shares at a special meeting, where each preferred share entitles the shareholder to one vote. Preferred shareholders have the right to vote on any change to our legal form and obtain the right to vote if we enter into a liquidation process.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The approval of holders of at least one-half of the issued common shares is required for the following actions:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; reducing the mandatory distribution of dividends;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; approving a takeover, merger or spin-off;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; approving our participation in a "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>grupo de sociedades</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" (a group of companies whose management is coordinated through contractual relationships and equity ownerships), as defined under the Brazilian Corporate Law;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; changing our corporate purpose;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; ceasing our state of liquidation; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; approving our dissolution.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Brazilian Corporate Law, holders of common shares, voting at a Shareholders&#8217; Meeting, have the exclusive power to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>amend our Bylaws, including changes to the rights of the holders of the common shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>elect or dismiss members of our Board of Directors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>receive the yearly accounts prepared by our Management and accept or reject management's financial statements, including the allocation of net profits for payment of the mandatory dividend and allocation to the various reserve accounts;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>suspend the rights of a shareholder who has not fulfilled the obligations imposed by law or by our Bylaws;</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>176</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.B. Memorandum and Articles of Association </U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>accept or reject the valuation of assets contributed by a shareholder in consideration for issuance of capital stock; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>approve corporate restructurings, such as takeovers, mergers and spin-offs; dissolve or liquidate, elect or dismiss our liquidators or examine their accounts.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Preemptive rights</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Each of our shareholders has a general preemptive right to subscribe for shares or convertible securities in any capital increase in proportion to its holding. Shareholders must be granted at least a 30&#8209;day period following the publication of notice of the issuance of shares or convertible securities to exercise their preemptive rights.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As described under "Regulations of and Restrictions on Foreign Investors," under the Brazilian Constitution the increase of foreign investors' participation in the voting capital (common shares) of financial institutions is subject to prior authorization by the government. However, foreign investors without specific authorization may acquire publicly traded non-voting shares of Brazilian financial institutions or depositary receipts representing non-voting shares offered abroad. In January 2012, the Central Bank authorized us to create an ADR program for our common shares in the U.S. market. As part of this authorization, and after the government had affirmed it as being in its own interest, the Central Bank increased the limit of foreign interest in our capital stock from 14.0% to 30.0%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the event of a capital increase maintaining the existing proportion between common and preferred shares, each shareholder shall have the right to subscribe to newly issued shares of the same class it currently holds. If the capital increase changes the proportion between common and preferred shares, shareholders shall have the right to subscribe newly issued shares of the same class they currently hold, only extending to shares of a different class so as to maintain the same proportion in the capital stock as held prior to such increase. In any case, all new increases are subject to the foreign interest limit set forth by the Central Bank, which means that holders of common shares could be prevented from exercising their preemptive rights in relation to newly issued common shares if the 30.0% limit is reached. Under Brazilian Corporate Law, shareholders are permitted to transfer or sell their preemptive rights.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>You may not be able to exercise the preemptive rights relating to the shares underlying your ADSs unless a registration statement under the Securities Act of 1933 is effective with respect to those rights or an exemption from the registration requirements of the Securities Act is available. The contractual arrangements governing the ADSs provide that the custodian of the shares underlying the ADSs may, if possible, transfer or dispose of the preemptive rights. Such contractual arrangements related to the ADSs, provide for the custodian to remit the consideration received to the depositary bank that holds the ADSs. Its distribution by the depositary bank to holders of preferred or common share ADSs is net of any fees due to the custodian and the depositary bank. For more details see "Item 3.D. Risk Factors &#8211; Risks relating to our shares, preferred share ADSs and common share ADSs.&#8221;</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Right of withdrawal</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian Law provides that under certain circumstances a shareholder has the right to withdraw his or her equity interest from a company and to receive a payment for the portion of equity attributable to his or her equity interest.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This right of withdrawal may be exercised:</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by the dissenting or non-voting holders of the adversely affected class of shares (including any holder of preferred shares) in the event that a Shareholders' Meeting resolves to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>create preferred shares or increase an existing class of preferred shares relative to the other class or classes of preferred shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>modify a preference, privilege or condition of redemption or amortization conferred on one or more classes of preferred shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>create a new class of preferred shares with greater privileges than the existing class of preferred shares; or</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp; by the dissenting or non-voting shareholders (including any holder of preferred shares) in the event that a general shareholders' meeting resolves to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reduce the mandatory distribution of dividends;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>change our corporate purpose;</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>177</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>transfer all of our shares to another company, making us a wholly owned subsidiary of such company, known as an "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>incorpora&#231;&#227;o de a&#231;&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>;" or</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>by the dissenting or non-voting holder of common shares, in the event that a Shareholders' Meeting resolves to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>acquire control of another company at a price exceeding certain limits set forth in Brazilian Law;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>merge or consolidate a company, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>provided that</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> its shares do not have liquidity and are widely held by the market;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>participate in a "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>grupo de sociedades</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" as defined under the Brazilian Law, provided that its shares do not have liquidity and are widely held by the market; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>spin off a company or companies resulting in, among other things, a reduction of the mandatory annual dividend, participation in a group of companies, or a change of corporate purpose.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our dissenting or non-voting shareholders also have a right of withdrawal in the event that the entity resulting from our merger, merger of our shares or spin-off does not become a listed company within 120 days of the shareholders&#8217; meeting at which the relevant decision was taken. The dissenting or non-voting shareholders only have a withdrawal right if they owned the shares, which have been adversely affected at the time of the first call for the shareholders&#8217; meeting in which the relevant decision was made. If a public announcement of the action taken or to be taken was made prior to the call for the shareholders&#8217; meeting, the shareholders' ownership of shares is based on the date of announcement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The right of withdrawal lapses 30 days after publication of the minutes of the shareholders&#8217; meeting at which the action is taken, except when the resolution is subject to confirmation by the preferred shareholders (which must be made at a special meeting to be held within one year). In that case the 30-day term is counted from the date the minutes of the special meeting are published. We would be entitled to reconsider any action giving rise to redemption rights within ten days following the maturity of such rights if the redemption of shares of dissenting shareholders would jeopardize our financial stability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In all the situations described above, our shares would be redeemable at their book value, determined on the basis of the last balance sheet approved by our shareholders. If the shareholders&#8217; meeting giving rise to withdrawal rights occurs 60 days after the date of the last approved balance sheet, a shareholder may demand that its shares be valued on the basis of a new balance sheet of a date within 60 days preceding such shareholders&#8217; meeting.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Liquidation</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the event of our liquidation, our preferred shareholders would be entitled to priority over common shareholders in the return of capital. The amount to which they would be entitled is based on the portion of the Capital Stock represented by the preferred shares, adjusted from time to time to reflect any capital increases or reductions. After all our creditors had been paid, our residual assets would be used to return the amount of capital represented by the preferred shares to the preferred shareholders. Once the preferred shareholders had been fully reimbursed, the common shareholders would be reimbursed on the portion of the Capital Stock represented by the common shares. All our shareholders would participate equally and ratably in any remaining residual assets.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Redemption</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws provide that our shares are not redeemable. However, Brazilian Law authorizes us to redeem minority shareholders' shares if, after a public tender offer for our delisting, our controlling shareholder increases to more than 95.0% its participation in our total capital stock.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Conversion rights</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws provide that our common shares cannot be converted into preferred shares or our preferred shares into common shares.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Liability of our shareholders for further capital calls</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Neither Brazilian law nor our Bylaws provide for capital calls. Our shareholders' liability is limited to the payment of the issue price of the shares subscribed or acquired.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>178</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.B. Memorandum and Articles of Association </U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Form and transfer</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shares are registered in book-entry form and we perform all the services of safekeeping and transfer of shares. To make the transfer we make an entry in the register, debit the share account of the transferor and credit the share account of the transferee.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Transfers of shares by a foreign investor are made in the same way and executed by the investor's local agent on the investor's behalf. However, if the original investment was registered with the Central Bank pursuant to a foreign investment mechanism regulated by the CMN Resolution No. 4,373/14 as described under "Item 10.D. Exchange Controls," the foreign investor must declare the transfer in its electronic registration.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our shareholders may opt to hold their shares through B3. Shares are added to the B3 system through Brazilian institutions, which have clearing accounts with B3. Our shareholder registry indicates which shares are listed on the B3 system. Each participating shareholder is in turn registered in a register of beneficial shareholders maintained by the B3 and is treated in the same manner as our registered shareholders.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Brazilian rules related to information disclosure</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In January 2002, through CVM Instruction No. 358/02, the CVM issued regulations that were amended in June 2002 and March 2007, regarding the disclosure of information to the market. These regulations include provisions which:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>determine what information must be filed with the CVM in the form of a notice to the shareholders or a material fact ("</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fato relevante</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>"). The "</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fato relevante</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>" includes any controlling shareholder decisions that could influence the price of our securities and any controlling shareholder decision to trade, cease to trade, or exercise any rights under our securities;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>expand the list of events which may be considered material, including, among others:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>execution of an agreement&nbsp; for the transfer of the shareholding control of the company, even under a suspensive or resolutive condition;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>change in the control of the company, including through the signing, amendment or termination of the shareholders' agreement;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the signature, amendment or termination of shareholders' agreements to which the company is a party, or which have been registered in our records;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the entry or withdrawal of shareholders that have a financial, operational, technological or management collaboration agreement with us;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>any authorization to trade our securities in any market, national or abroad;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>a decision upon deregistration of a publicly-held company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the merger, consolidation or spin-off of a company or its affiliates;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>change or dissolution of the company</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the change in the composition of a company's capital stock;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the change in accounting criteria;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>debt renegotiation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>approval of a stock option plan to purchase shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the change in rights and advantages attached to the securities of a company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>split or reverse split of shares or attribution of bonus;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the acquisition of a company's shares to keep in treasury or cancellation, and their sale;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the company's profit or loss and the allocation of its cash dividends;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the execution or termination of an agreement, or failure on its implementation, when the expectation of its accomplishment is public's knowledge; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>the approval, change or abandonment of a project or delay in its implementation;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>inception, resumption or stoppage of the manufacturing or commercialization of product or the provision of service;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>discovery, change or development of technology or resources of the company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>change of projections disclosed by the company; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 85.05pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>agreement with creditors, request or confession of bankruptcy or filing of a legal action that might affect the economic and financial situation of the company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>extend, in the event our executive officer in charge of investor relations does not make required disclosure, the responsibility to make the required disclosure to our controlling shareholders, our Management, the members of our Fiscal Council and to any member of a technical or consulting body created by our Bylaws;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>extend confidentiality obligations related to undisclosed information to, in addition to our Management and controlling shareholders, the members of any technical or consulting bodies created by our Bylaws and our employees in charge of the issues considered relevant matters;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-GB style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>forcing the Director of Investor Relations to provide clarifications on the disclosure of material act or fact by request of the CVM or the stock market, at any moment;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>disclose the information contained in material facts in all markets where our securities are traded;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>disclose any intention to delist the company within the period of one year if we acquire a controlling participation in a company that has its securities traded on a market; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>fulfill disclosure requirements related to the acquisition and sale of relevant shareholder participations, or the acquisition and sale of our securities by our managing shareholders, members of our Fiscal Council or any member of a technical or consulting body created by our Bylaws; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>before a material fact is publicly disclosed, prohibit the trading of our securities by our direct and indirect controlling shareholders, officers, members of our Board of Directors, fiscal council and any technical or advisory committees or whomever by virtue of their position has knowledge of information related to the material fact.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In February 2014, the CVM provided publicly-held companies with the option of disclosing material facts by way of a news portal on the internet, in addition to the disclosure carried out through large circulation newspapers (as previously made).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under CVM rules, we are also required to disclose a series of additional details to the market if a general meeting is called to decide on an absorption, merger, or split.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>On April 27, 2017, the CMN issued the Resolution no. 4,567/17 requiring that that financial institutions and other entities authorized to operate by the Central Bank inform to the CMN any situation that may affect the reputation of its: (i) controlling shareholders; (ii) shareholders holding more than 15% of the capital of the entity; (iii) Directors; and (iv) Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with the existing regulations, the Central Bank considers the following situations to compromise the reputation of such people: (i) criminal investigations or criminal proceedings against the person or any company controlled or managed by this person at the time of occurrence; (ii) administrative or judicial proceedings related to the SFN; and/or (iii) other similar situations that the Central Bank may consider relevant.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to such rule, the Brazilian financial institution has 10 working days from the date it becames aware of the situation to communicate the fact to the Central Bank.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Disclosure of periodic information</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2009, the CVM issued Instruction No. 480/09 that addresses, among other topics, the issuance of securities and periodic disclosure of information by companies that have their securities traded on the Brazilian market. As a result of this rule, Brazilian issuers must file a &#8220;Reference Form&#8221; with the CVM every year, a document similar to a &#8220;Form 20-F,&#8221; providing several detailed aspects of the company's operations and administration. Furthermore, the rules related to financial statements and information disclosure were improved and the management's responsibility for the information provided was increased. As a result, the quantity and quality of information provided to the Brazilian market and to CVM has </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>increased considerably, reinforcing the transparency of our activities for the local investor. In addition, new issuances for companies already listed were made easier. Instruction No. 480/09 is periodically changed by CVM.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Disclosure of operating information to the public</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>CMN rules determine that financial institutions should establish a formal policy approved by its board of directors or, in its absence, by its board of executive officers, for disclosure of information referring to risk management, determination of amount of risk-weighted assets and adequacy of RC. In October 2013, pursuant to Circular No. 3,678/13, the Central Bank established the current standards on disclosure of this information to the public.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Regulations and restrictions on non-Brazilian holders</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian Constitution bars any increase in foreign interest in the share capital of financial institutions headquartered in Brazil. However, because we are a publicly-traded financial institution, non-Brazilian holders of our preferred shares benefit from an exception to this provision. Accordingly, foreign holders face no legal restrictions on the ownership of our preferred shares or of preferred share ADSs, and are entitled to all the rights and preferences of such preferred shares. Furthermore, in accordance with the Central Bank authorization for the ADR program for common shares in the U.S. market, foreigners can hold up to 30.0% of our total common shares. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The ability to convert dividend payments and proceeds from the sale of our shares or preemptive rights into foreign currency and to remit such amounts abroad from Brazil is subject to restrictions under foreign investment legislation which generally requires, among other things, that the relevant investment be registered with the Central Bank. Nonetheless, any non-Brazilian holder who registers with the CVM in accordance with CMN Resolution No. 4,373/14 may buy and sell securities on Brazilian stock exchanges without obtaining a separate certificate of registration for each transaction. These rules are applicable both to common and preferred shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our ADR program is duly registered with the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws do not restrict the rights of Brazilian residents or non-residents to hold our shares and exercise related rights.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Rights of the holders of our ADSs</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Holders of our ADSs are not treated as our shareholders and do not have the same rights that our shareholders have. The depositary bank will hold the preferred shares and common shares that underlie the preferred share ADSs and common shares ADSs through a custodian in accordance with the provisions of the Deposit Agreements. The rights of our ADS holders are governed by the Deposit Agreements, which are New York law governed contracts. In contrast, the rights of our shareholders are provided for by Brazilian law. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Holders of our ADSs will receive notifications and voting instructions in relation to any meetings only if we authorize and direct the depositary bank to distribute such information to the holders. If we do not provide that authorization and direction to the depositary bank, holders of ADSs will not be able to vote at our meetings, or otherwise, unless they surrender their preferred share ADSs or common share ADSs and receive the underlying preferred shares or common shares, as applicable, in accordance with the terms of the applicable Deposit Agreement. If we authorize and direct the depositary bank to distribute voting instructions to our ADS holders, such holders may guide the depositary bank to vote in accordance with the number of shares represented by their ADSs. See "Item 3.D &#8211; Risk Factors &#8211; Risks relating to our shares and ADSs &#8211; The Deposit Agreements governing the ADSs provide that holders of such ADSs will only receive voting instructions if we authorize the depositary bank to contact those holders to obtain voting instructions; there are also practical limitations on any ability to vote we may give such holders."</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Transfer of control</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Bylaws do not contain any provision that would have the effect of delaying, deferring or preventing a change in our control or that would operate only with respect to a merger, acquisition or corporate restructuring involving ourselves or any of our subsidiaries. However, Brazilian banking regulations require that any transfer of control of a financial institution be previously approved by the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Additionally, Brazilian </FONT><STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>l</FONT></STRIKE><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>aw stipulates that acquisition of control of a publicly held company is contingent on tender offers for all outstanding common shares at a price equivalent to at least 80.0% of the price per share paid for the controlling block. In December 2003, we amended our Bylaws to ensure that in the event of a change in our control, the acquirer will be required to pay our shareholders an amount equal to (a) for our non-controlling common shareholders, 100% of the price per share paid to our controlling </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>shareholders and (b) for our preferred shareholders, 80.0% of the price per share paid for our controlling shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the event of our liquidation, our preferred shareholders would have priority over our common shareholders when returning capital. See "Organization &#8211; Liquidation" for more information. In addition, in the event of a transfer of control, our shareholders have the right of withdrawal under certain circumstances. See "Organization &#8211; Right of withdrawal" for more information.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian law also obliges our controlling shareholder to make a tender offer for our shares if it increases its interest in our share capital to a level that materially and negatively affects the liquidity of our shares.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Disclosure of shareholder ownership</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Brazilian regulations require that any person or group of persons representing the same interest that has directly or indirectly acquired an interest corresponding to 5.0% of any type or class of shares of a publicly traded company must disclose its share ownership to the CVM and to Brazilian stock exchanges. In addition, a statement containing the required information must be published in the newspapers. Any subsequent increase or decrease of 5.0% or more in ownership of any type or class of shares must be similarly disclosed.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>B3&#8217;s</FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; LINE-HEIGHT: normal" color=windowtext face=Cambria> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>differentiated corporate governance practices</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2001, we voluntarily adhered to B3&#8217;s Level 1 Corporate Governance which establishes special requirements for the Company&#8217;s listing and rules for its directors and shareholders, including its controlling shareholders. Companies listed on Level 1 must adopt practices favoring transparency and the disclosure, in addition to legal requirements, of more comprehensive financial reporting data, details of trading by directors, officers, executives and controlling shareholders and related party transactions, among others &#8211; in all cases focusing on providing access to information for shareholders, investors and other stakeholders. Note that companies listed in this segment must also maintain a minimum free float of 25.0%.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577628"></A><A name="_Toc415063406"></A><A name="_Toc292442729"></A><A name="_Toc288278550"></A><A name="_Toc288271623"></A><A name="_Toc261486033"></A><A name="_Toc257080089"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.C. Material contracts</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><A name="_Toc479577629"></A><A name="_Toc415063407"></A><A name="_Toc292442730"></A><A name="_Toc288278551"></A><A name="_Toc288271624"></A><A name="_Toc261486034"></A><A name="_Toc257080090"></A><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In July 2016, we announced to the market the acquisition of 100% of the share capital of HSBC Brasil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In July 2015, we entered into a share purchase agreement with HSBC Latin America Holdings (UK) Limited, pursuant to which the Bank agreed to acquire 100% of the share capital of HSBC Brasil. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The acquisition was approved by the Central Bank in December 2015 and by the CADE in June 2016, subject to an Agreement on Concentration Control, and therefore approved by all relevant regulatory bodies.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> The purchase was completed in July 2016, for R$16 billion. In October 2016, HSBC Brasil's spin-off was approved by our shareholders, enabling the integration of people and technological platforms and the replacement of the brand in the service network, providing greater synergy in the transaction. With the acquisition, we took over all operations of HSBC in Brazil, including retail, insurance and asset management, as well as all branches and clients. The acquisition allowed us to grow in scale and optimize our platforms, while increasing national coverage, consolidating our leadership in a number of branches in several states, and strengthening our presence in the high-income segment. The acquisition also enabled us to expand our operations, increasing the range of products offered in Brazil, especially in the insurance, credit card and asset management segments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For more information, see &#8220;Item 4.A History and Development of the Company &#8211; Recent acquisitions.&#8221;</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.D. Exchange controls</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Central Bank may place temporary restrictions on the remittance of foreign capital abroad, including payments of principal, interests or dividends, and on the repatriation of capital if there is a significant imbalance in Brazil's balance of payments, or one is expected. The last occurrence of restrictions on the remittance of foreign capital was in 1989, when for approximately six months in 1989 and early 1990, the government suspended all remittances abroad of dividends and invested capital. The Central Bank subsequently released these amounts for remittance abroad in accordance with specific guidelines. The government may take similar measures in the future.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under Brazilian tax laws, non-Brazilian holders of securities enjoy favorable tax treatment if they are qualified in terms of CMN Resolution No. 4,373/14. To qualify under this Resolution, a non-Brazilian holder must:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>182</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.E. Taxation</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>appoint a representative in Brazil with power to undertake acts relating to the investment;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>register as a foreign investor with the CVM; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>register its investment with the Central Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 10.E. Taxation &#8211; Brazilian tax considerations &#8211; Taxation of gains" for a description of tax benefits extended to non-Brazilian holders of securities who qualify under CMN Resolution No. 4,373/14.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under CMN Resolution No. 4,373/14, securities held by non-Brazilian holders must be maintained under the custody of, or in deposit accounts held in, financial institutions duly authorized by the Central Bank and the CVM. In addition, securities trading are restricted under CMN Resolution No. 4,373/14 to transactions on Brazilian stock exchanges or qualified over-the-counter markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Registered non-Brazilian holders are allowed to invest in any type of investment available to Brazilian citizens in the financial and securities markets, with the exception that the Brazilian Constitution limits the ability of non-Brazilian holders to acquire capital of financial institutions, as mentioned above under "Regulation of and Restrictions on Non-Brazilian holders." Registration allows investors to remit foreign currency abroad when the funds are distributions on registered shares or proceeds from the disposition of such shares. The funds are converted into foreign currency at the forex market rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The registered capital for each share purchased in Brazil and deposited with the custodian is equal to its purchase price (informed in U.S. dollars). If ADS holder chooses to cancel ADSs in exchange for the underlying shares, the investment in the shares may be registered with the Central Bank. This registration is necessary for the holder to receive dividends or proceeds from the sale of the shares outside of Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>When a holder of ADSs exchanges ADSs for the underlying shares, the holder is entitled to either:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>sell the shares on the stock exchange and remit the proceeds abroad within five business days; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>freely convert the investment in the underlying shares to either an investment under CMN Resolution No. 4,373/14 (subject to satisfaction of the legal requirements described above) or a direct foreign investment in Brazil (in accordance with applicable rules).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Holders that do not comply with the rules previously described may still register their investment, but the registration process will be subject to detailed procedures established by the Central Bank. Holders that do not comply with these rules may also be subject to monetary penalties.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577630"></A><A name="_Toc415063408"></A><A name="_Toc292442731"></A><A name="_Toc288278552"></A><A name="_Toc288271625"></A><A name="_Toc261486035"></A><A name="_Toc257080091"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.E. Taxation</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following summary contains a description of the principal Brazilian and U.S. federal income tax consequences of the acquisition, ownership and disposition of our shares and ADSs. However, it does not purport to be a comprehensive description of all the tax considerations that may be relevant to a decision to purchase our shares and/or ADSs. Accordingly, prospective purchasers of our shares or ADSs should consult their own tax advisors as to the tax consequences of the acquisition, ownership and disposition of our shares and/or ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This summary is based upon the tax laws of Brazil and the United States in effect on the date hereof, which are subject to change.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Currently, there is no income tax treaty for double taxation between Brazil and the United States. However, due to the reciprocity of treatment in the United States, the Brazilian tax authority assures to residents in Brazil the right to deduct, from the income tax due, the amount of tax levied on income that has already been paid in the United States. Although the tax authorities of the two countries have had discussions that may culminate in such a treaty, no assurance can be provided regarding the possibility of a treaty of this kind or how it will affect the U.S. holders of our shares or ADSs. Accordingly, prospective holders of our shares or ADSs should consult their own tax advisors as to the tax consequences of the acquisition, ownership and disposition of shares or ADSs in their particular circumstances.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Brazilian tax considerations</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following discussion summarizes the principal Brazilian tax consequences of the acquisition, ownership and disposition of our shares or ADSs by a holder not residing in Brazil. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxation of dividends</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Dividends paid to the holders of ADSs or to investor non-resident in Brazil related to our shares are not subject to Brazilian withholding income tax, provided that these dividends are paid from the profits generated as of January 1, 1996. Dividends paid from profits before January 1, 1996 may be withheld at the </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>183</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.E. Taxation</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>variable rates, according to the legislation applicable at the time.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this context, Law No. 11,638/07 significantly changed the Brazilian Corporate Law, with the objective of more closely aligning BR GAAP with IFRS. The changes promoted by Law No. 11,638/07 produced effects from January 1, 2008, already predicting that the new accounting rules could conflict with the provisions of the tax law, Law No. 11,941/09, the Transition Tax System ("RTT") was instituted. In general, under the implementation of the RTT, the changes promoted by the IFRS to modify the criterion of recognition of revenues, costs and expenses, would have no tax effects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this sense, profits recorded in line with the rules laid down by Law No. 11,638/07 ("IFRS Profits") may be different for profits calculated following the accounting methods and criteria in force on December 31, 2007 ("2007 Profits").</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Although market practice is for the distribution of dividends calculated using the IFRS Profits to be exempt from taxes, the Brazilian tax authorities, through Normative Instruction No. 1,397/13, understand that companies should consider the 2007 Profits as the basis for determining the amount of profit exempt from taxes that could be distributed to the beneficiaries.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Surplus paid on 2007 Profits ("Surplus Dividends") should, in the opinion of the tax authorities and in the specific case of non-resident beneficiaries in Brazil, be subject to taxation as follows: (i) Withholding Income Tax at Source ("IRRF") at a rate of 15.0% in the case of non-resident beneficiaries in Brazil, but which were not domiciled in a tax haven; or (ii) IRRF at a rate of 25.0% in the case of non-residents in Brazil, domiciled in the tax haven.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As way to mitigate that issue, Law No. 12,973/14, in addition to revoking the RTT, made significant changes to federal tax law, including with relation to Excess Dividends. Following the changes introduced by Law No. 12,973/14, it was confirmed that Excess Dividends would be exempt with respect to profits made between 2008 and 2013. After 2015, this discussion is no longer relevant, as the differences relating to the previous accounting treatment have become irrelevant. Potential discussions remain, however, with regard to dividends paid from profits ascertained in the calendar year 2014, unless the company has voluntarily opted for the application of the provisions laid down in Law No. 12,973/14, since January 1, 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxation of gains</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with Law No. 10,833/03, the gains earned as a result of the divestiture of assets located in Brazil with investor non-resident in Brazil are subject to taxation in Brazil, regardless of the fact that the divestiture is performed to another non-resident or to a resident in Brazil. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this sense, in the case of divestiture of our shares, which are regarded as Brazilian assets, the investor non-resident in Brazil shall be subject to the income tax on the capital gain ascertained in accordance with the rules described in the following paragraphs, regardless of the operation being, or not, carried out in Brazil or abroad, or with a resident or non-resident in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In relation to the ADSs, despite the theme not being pacified in Brazil, it is possible to argue that gains recorded by an investor non-resident in Brazil in the divestiture of these assets to another non-resident, should not be subject to taxation in Brazil. Such arguments would be based on the understanding that the ADSs do not represent Brazilian assets for purposes of the application of Law No. 10,833/03, because they represent securities issued and traded on stock exchanges abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>It is important to emphasize that, for purposes of the Brazilian legislation, the rules applicable to gains earned as a result of the divestiture of shares or ADSs may vary according to the domicile of the investor non-resident in Brazil, in accordance with the form through which he has recorded his investment before the Central Bank and/or in accordance with the way that the divestiture is structured and performed. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The deposit of our shares in exchange for ADSs may necessitate taxation by income tax at a rate of 15.0% or 25.0%, in the event of any capital gain ascertained by an investor non-resident in Brazil located in a tax haven, if the cost of acquisition of our shares is less than: (i) the average price per share, quoted on the Brazilian stock exchange in which the highest number of these shares has been sold on the day of deposit; or (ii) if no share is sold on that day, the average price quoted on the Brazilian stock exchange in which the highest number of shares has been sold in the last 15 trading sessions immediately prior to the deposit. In this case, the difference between the average price of our shares, as calculated above, and the corresponding acquisition cost, can be considered as capital gain. The withdrawal of ADSs in exchange for shares, should not, in principle, be understood as an operation liable to result in capital gain subject to income tax, provided that the regulatory rules in relation to the registration of the investment before the Central Bank are appropriately observed.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>184</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.E. Taxation</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The gains earned in the divestiture of shares on the Brazilian stock exchange (that include the transactions carried out in the OTC market) are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 45.35pt; TEXT-INDENT: -17pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exempt from income tax when earned by an investor non-resident in Brazil that: (i) is an Investor 4,373; and (ii) is not resident in a location considered as a tax haven; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>subject to income tax at a rate of 15.0% in the case of the gains earned by a foreign investor that: is not an Investor 4,373 and is not resident or domiciled in a location considered as a tax haven; or is an Investor 4,373 resident or domiciled in a location considered as a tax haven; or </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>subject to a rate of 25% if the foreign investor is not an investor 4,373 resident or domiciled in a location considered as a tax haven.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the case in which the non-resident investor is subject to the payment of the IR (Income Tax) on the capital gain earned with the sale on the stock exchange, the income tax withheld at source at the rate of 0.005%, on the value of the divestiture, will be applicable and may subsequently be compensated, with possible income tax on the capital gain.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other gains earned in the divestiture of shares that are not carried out in Brazilian stock exchanges are subject to income tax at progressive rates that varies from 15.0% to 22.5% as detailed below, except for residents in locations considered as a tax haven, which, in this case, are subject to taxation by income tax at a rate of 25.0%. If the gains arising out of transactions carried out in the non-organized Brazilian over-the-counter market with mediation, the withholding of 0.005% on the value of the sale will be applicable and can be compensated with possible income tax due on the capital gain.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In September 2015, the government issued Provisional Measure No. 692/15, converted into Law No. 13,259/16, which introduced a regime based on the application of progressive tax rates for income tax on capital gains recognized by Brazilian individuals in the disposal of assets in general. In accordance with Law No. 13,259/16, in force as of January 1, 2017, the income tax rates on capital gains recognized by Brazilian individuals, which are also applicable to foreign investors, would be: (i) 15.0% for the part of the gain that does not exceed R$5 million, (ii) 17.5% for the part of the gain that exceeds R$5 million, but does not exceed R$10 million, (iii) 20.0% for the part of the gain that exceeds R$10 million but does not exceed R$30 million, and (iv) 22.5% for the part of the gain that exceeds R$30 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In the event of redemption of shares or reduction of capital by a Brazilian company, the positive difference between the amount actually received by an investor non-resident in Brazil and the acquisition cost of the shares redeemed will be considered as capital gain resulting from an operation not made on the stock exchange, therefore, it will be subject to taxation by income tax at progressive rates varying between 15.0% and 22.5%, except for residents of locations considered as JTF, which, in this case, are subject to taxation by income tax at a rate of 25.0%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a general rule, the regime of increased tax on capital gains should apply to transactions made outside the Brazilian stock exchange or organized over-the-counter market. Also, as a general rule, a foreign investor that is resident or domiciled in a location considered as a tax haven would be subject to income tax at a rate of 25.0%, as mentioned above. In addition, as a rule, gains recognized by a foreign investor in transactions made on the Brazilian stock exchange are not subject to increased taxation on capital gains, in accordance with Law No. 13,259/16.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As a general rule, the gains recorded as a result of the divestiture of shares or ADSs are equivalent to the positive difference between the sale value of the shares or ADSs and the respective costs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The exercise of any preemptive right related to shares or ADSs will not be subject to taxation on income in accordance with the Brazilian legislation currently in force. Any gain on the sale or exercise of rights of preference related to shares or ADSs by an investor non-resident in Brazil will be subject to taxation in accordance with the same rules applied in the case of divestiture of those shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest on equity (&#8220;JCP&#8221;)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian legislation allows a Brazilian company, instead of distributing dividends, to perform a distribution of interest on equity to its own shareholders, treating such values as deductible in calculating the actual profit and in the calculation base of the Social Contribution. For taxation purposes, the interest on equity is limited to the daily variation pro rata of the Long-term Interest Rate ("TJLP"), as the subsequent determinations of the Central Bank and may not exceed the value equivalent to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>50% of the net income (after deduction of the Social Contribution, however before considering the provision related to the Corporate Income Tax and the amount attributable to the shareholders as JCP) established in the period in which the payment is carried out; and</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>50% of accumulated profits and profit reserves established on the date of commencement of the period in which the payment is made.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Specifically in relation to the payment of JCP for non-resident shareholders, such consignments are subject to IRRF at a rate of 15.0%, or 25.0%, where the recipient of the income is domiciled in a tax haven. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The values paid as JCP are subject to deduction in the calculation of the IRPJ and CSLL, which taxes are due on the profit, observing the limits detailed above. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tax haven (&#8220;JTF&#8221;)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>According to Law No. 9,430/96 and subsequent amendments, a tax haven is a country or location that (i) does not tax income; (ii) taxes income at an effective rate lower than 20.0% (or 17.0% in specific cases as detailed below); or (iii) imposes restrictions on the disclosure of the corporate structure of legal entities or their ownership.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Brazilian tax authorities published NI No. 1,037/10, listing: (i) countries or jurisdictions considered as tax haven or whose internal legislation opposes confidentiality related to the corporate composition of legal entities or their ownership; and (ii) tax schemes considered as privileged, whose definition is brought by Law No.11,727/08.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In December 2014, the Brazilian Federal Revenue Office (&#8220;RFB&#8221;) published the Decree No. 488/14, reducing the tax haven concept to localities that tax income at a maximum rate of less than 17.0% for countries or regimes in line with international fiscal transparency standards as established by Brazilian tax authorities. However, note that Decree No. 488/14 is not applicable to foreign investors whose investments in Brazil are in agreement with CMN Resolution No. 4,373/14.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Despite our understanding that a better interpretation of the legislation currently in force, leads to the conclusion that the concept of the privileged tax scheme, mentioned above, would be applicable only for purposes of Brazilian rules of transfer and undercapitalized pricing, we cannot ensure that further legislation, or even interpretations of the tax authorities determine the application of the concept of the privileged tax scheme, established in Law No. 11,727/08 will also apply to investor non-resident in Brazil in the payment of JCP.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>This way, it is recommended that private tax advisors are consulted regarding the consequences of the rules laid down in Law No. 11,727/08, NI No. 1,037/10 and Decree No. 488/14, if the tax authorities determine the application of the concept of the privileged tax regime.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tax on Foreign Exchange Transactions </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with Decree No. 6,306/07, the conversion of foreign currency into Brazilian currency or </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>vice-versa</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, shall be subject to tax on foreign exchange operations. The rate of the current tax on foreign exchange operations, applicable to most of the foreign exchange operations, is 0.38%. However, foreign exchange operations carried out for inflows of resources in Brazil by an Investor 4,373 are subject to tax on foreign exchange operations at a rate of 0%: (i) in the case of variable income operations carried out on the Brazilian stock exchange, as well as acquisitions of shares of publicly held Brazilian companies or subscription of shares related to capital contributions, provided that the issuing company has registered its shares to be traded on the stock exchange; and (ii) for the transfer of resources from Brazil, related to this type of investment, including payments of dividends and JCP and the repatriation of resources invested in the Brazilian market. Additionally, the tax on foreign exchange operat<FONT style="FONT-SIZE: 10pt" face=Arial>i</FONT>ons is currently charged at a rate of 0% on the cancellation of ADSs in the exchange for shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In any case, the tax rate on foreign exchange operations can be increased at any time by an act of the Federal Executive Branch, up to the percentage of 25.0%, in relation to the transactions that occurred after this possible amendment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Tax on the transaction with securities </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In accordance with Decree No. 6,306/07, the tax on the transaction with securities may be charged on all transactions involving securities, even though the transactions are conducted on Brazilian stock exchanges. The tax rate on transactions with securities applicable to transactions involving our shares is currently 0%. In particular, the tax on the transaction with securities is also of 0% due on the deposit of shares traded on Brazilian stock exchanges with the purpose of issuing certificates of deposit to be marketed abroad. The government can increase the tax rate on transactions with securities at any moment by up to 1.5% per day, but only with respect to future transactions.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>186</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.E. Taxation</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other federal Brazilian taxes</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>There are no federal Brazilian taxes on inheritance, gift or succession applicable to the ownership, transfer or disposition of preferred shares or ADSs by an investor non-resident in Brazil. Gift and inheritance taxes, however, can be levied by some states in Brazil on inheritances bestowed or gifts made by investor non-resident in Brazil l to individuals or entities residing or domiciled within such states in Brazil. There are no Brazilian taxes on stamps, issue, registration or similar by investors holding our shares or ADSs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Registered capital</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Amounts invested in securities by a holder not residing in Brazil who: (i) qualifies for benefits under CMN Resolution No. 4,373/14 and who registers with the CVM; or (ii) holds ADSs and is represented by the depositary bank's registration, are eligible for registration with the Central Bank. In the case of ADSs, since the shareholder of record is the depositary bank, the depositary bank is responsible for obtaining the registration. The registration allows the remittance outside Brazil of foreign currency, converted at the Exchange Market rate, acquired with the proceeds of distributions on, or dispositions of, underlying shares.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>U.S. federal income tax considerations</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The statements regarding U.S. tax law set forth below are based on U.S. law as in force on the date of this annual report and changes to such law subsequent to the date of this annual report may affect the tax consequences described herein. This summary describes the principal tax consequences of the ownership and disposition of the shares and ADSs, but it does not purport to be a comprehensive description of all of the tax consequences that may be relevant to a decision to hold or dispose of the shares and ADSs. This summary applies only to purchasers of the shares and ADSs who will hold the shares and ADSs as capital assets and does not apply to special classes of holders such as dealers in securities or currencies, holders whose functional currency is not the U.S. dollar, holders of 10.0% or more of our shares (taking into account shares held directly, through depositary arrangements or through attribution), tax-exempt organizations, financial institutions, holders liable for the alternative minimum tax, securities traders who elect to account for&nbsp; their investment in the shares or ADSs on a mark-to-market basis, and persons holding the shares or ADSs in a hedging transaction or as part of a straddle or conversion transaction. Accordingly, each holder should consult such holder's own tax advisor concerning the overall tax consequences to it, including the consequences under laws other than U.S. federal income tax laws, of an investment in the shares or ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In this discussion, references to a "U.S. holder" are to a holder of a share or ADS that: (i) is a citizen or resident of the United States; (ii) is a corporation organized under the laws of the United States of America or any state thereof; or (iii) is otherwise subject to U.S. federal income taxation on a net basis with respect to the shares and ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The shares will be treated as equity for U.S. federal income tax purposes. For purposes of the U.S. Internal Revenue Code of 1986, as amended, or the "Code," holders of ADSs generally will be treated as owners of the shares represented by such ADSs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxation of distributions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A U.S. holder will recognize dividend income for U.S. federal income tax purposes in an amount equal to the amount of any cash and the value of any property distributed by us as a dividend to the extent that such distribution is paid out of our current or accumulated earnings and profits, as determined for U.S. federal income tax purposes, when such distribution is received by the custodian (or by the U.S. holder in the case of a holder of preferred shares). The amount of any distribution will include the amount of Brazilian tax withheld on the amount distributed, and the amount of a distribution paid in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> will be measured by reference to the exchange rate for converting </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> into U.S. dollars in effect on the date the distribution is received by the custodian (or by a U.S. holder in the case of a holder of preferred shares). If this custodian (or U.S. holder in the case of a holder of preferred shares) does not convert such </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> into U.S. dollars on the date it receives them, it is possible that the U.S. holder will recognize foreign currency loss or gain, which would be ordinary loss or gain, when the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> are converted into U.S. dollars. Dividends paid by us will not be eligible for the dividends received deduction allowed to corporations under the Code.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Subject to certain exceptions for short-term and hedged positions, the U.S. dollar amount of dividends received by an individual with respect to the ADSs will be subject to taxation at reduced rates if the dividends are "qualified dividends." Dividends paid on the ADSs will be treated as qualified dividends if: (i) the ADSs are readily tradable on an established securities market in the United States; and (ii) we were not, in the year prior to the year in which the dividend was paid, and are not, in the year in which the dividend is paid, a passive foreign investment company ("PFIC"). The ADSs are listed on the New York Stock Exchange, and will qualify as readily tradable on an established securities market in the United States so long as they are so listed. Based on existing guidance, it is not clear whether dividends received with respect to the shares will be treated as qualified dividends, because the shares themselves are not listed on a U.S. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>exchange. In addition, the U.S. Treasury has announced its intention to promulgate rules pursuant to which holders of the shares or ADSs, and intermediaries through whom such securities are held will be permitted to rely on certifications from issuers to treat dividends as qualified for tax reporting purposes. Because such procedures have not yet been issued, it is not clear whether we will be able to comply with them. Holders of ADSs and the shares should consult their own tax advisers regarding the availability of the reduced dividend tax rate in light of the considerations discussed above and their own particular circumstances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Based on our audited financial statements and relevant market data, we believe that we were not treated as a PFIC for U.S. federal income tax purposes with respect to our 2009 to 2016 taxable years. In addition, based on our audited financial statements and our current expectations regarding the value and nature of our assets, the sources and nature of our income, and relevant market and shareholder data, we do not anticipate becoming a PFIC for the 2017 taxable year. Our belief that we are not, and will not in the future be, a PFIC is based on certain Proposed Treasury Regulations dealing with non-U.S. banks. Such regulations are not final and are subject to modification, in which case our determination regarding PFIC status may be different.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Distributions out of earnings and profits with respect to the shares and ADSs generally will be treated as dividend income from sources outside of the United States and generally will be treated separately with other items of "passive" (or, in the case of certain U.S. holders, "financial services") income for the purposes of determining the credit for foreign income taxes allowed under the Code. Subject to certain limitations, Brazilian income tax withheld in connection with any distribution with respect to the shares or ADSs may be claimed as a credit against the U.S. federal income tax liability of a U.S. holder if such holder elects for that year to credit all foreign income taxes. Alternatively such Brazilian withholding tax may be taken as a deduction against taxable income. Foreign tax credits will not be allowed for withholding taxes imposed in respect of certain short-term or hedged positions in securities and may not be allowed in respect of arrangements in which a U.S. holder's expected economic profit is not substantial. U.S. holders should consult their own tax advisors concerning the implications of these rules in light of their particular circumstances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Distributions of additional shares to holders with respect to their shares or ADSs that are made as part of a </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>pro rata</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> distribution to all our shareholders generally will not be subject to U.S. federal income tax.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Holders of shares or ADSs that are foreign corporations or non-resident alien individuals, or "non-U.S. holders," generally will not be subject to U.S. federal income tax or withholding tax on distributions with respect to shares or ADSs that are treated as dividend income for U.S. federal income tax purposes unless such dividends are effectively connected with the conduct by the holder of a trade or business in the United States.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Taxation of capital gains</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Upon the sale or other disposition of a share or ADS, a U.S. holder generally will recognize gain or loss for U.S. federal income tax purposes. The amount of the gain or loss will be equal to the difference between the amount realized in consideration for the disposition of the shares or ADSs and the U.S. holder's tax basis in the shares or ADSs. Such gain or loss generally will be subject to U.S. federal income tax as capital gain or loss and will be long-term capital gain or loss if held for more than one year. Capital losses may be deducted from taxable income, subject to certain limitations. Gain realized by a U.S. holder on a sale or disposition of shares or ADSs generally will be treated as U.S. source income. Consequently, if Brazilian tax is imposed on such gain, the U.S. holder will not be able to use the corresponding foreign tax credit, unless the holder has other foreign source income of the appropriate type in respect of which the credit may be used.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A non-U.S. holder will not be subject to U.S. federal income tax or withholding tax on gain realized on the sale or other disposition of a share or ADS unless: (i) such gain is effectively connected with the conduct by the holder of a trade or business in the United States; or (ii) such holder is an individual who is present in the United States for 183 days or more in the taxable year of the sale and certain other conditions are met.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Backup withholding and information reporting</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Dividends paid on income for the year, and proceeds from the sale or other disposition of the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: line-through; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ADSs or the shares to a U.S. holder, generally may be subject to the information reporting requirements of the Code and to backup withholding unless the U.S. holder: (i) establishes, if required to do so, it is an exempt recipient; or (ii) in the case of backup withholding, provides an accurate taxpayer identification number and certifies that no loss of exemption from backup withholding has occurred. The amount of any backup withholding collected from a payment to a U.S. holder will be allowed as a credit against the holder's U.S. </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>federal income tax liability and may entitle the U.S. holder to a refund, provided that certain required information is furnished to the U.S. Internal Revenue Service.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>188</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>10.F. Dividends and Paying Agents</U></FONT></B></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>




<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>A non-U.S. holder generally will be exempt from these information reporting requirements and backup withholding tax, but may be required to comply with certain certification and identification procedures in order to establish its eligibility for such exemption.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Certain U.S. holders may be subject to additional reporting requirements. The penalty for failing to comply with these reporting requirements can be significant. U.S. holders should consult their own tax advisors concerning any U.S. reporting requirements that may arise out of the ownership or disposition of the shares or ADSs in light of their particular circumstances.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577631"></A><A name="_Toc415063409"></A><A name="_Toc292442732"></A><A name="_Toc288278553"></A><A name="_Toc288271626"></A><A name="_Toc261486036"></A><A name="_Toc257080092"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.F. Dividends and Paying Agents</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577632"></A><A name="_Toc415063410"></A><A name="_Toc292442733"></A><A name="_Toc288278554"></A><A name="_Toc288271627"></A><A name="_Toc261486037"></A><A name="_Toc257080093"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.G. Statement by Experts</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577633"></A><A name="_Toc415063411"></A><A name="_Toc292442734"></A><A name="_Toc288278555"></A><A name="_Toc288271628"></A><A name="_Toc261486038"></A><A name="_Toc257080094"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.H. Documents on Display</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We file reports, including annual reports on Form 20&#8209;F, and other information with the SEC pursuant to the rules and regulations of the SEC that apply to foreign private issuers. You may read and copy any materials filed with the SEC at its Public Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. Any filings we make electronically will be available to the public over the Internet at the SEC's website.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577634"></A><A name="_Toc415063412"></A><A name="_Toc292442735"></A><A name="_Toc288278556"></A><A name="_Toc288271629"></A><A name="_Toc261486039"></A><A name="_Toc257080095"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>10.I. Subsidiary Information</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For information on subsidiaries, see "Item 4.B. Business Overview &#8211; Main Subsidiaries" and Note 2(b) of our consolidated financial statements in "Item 18. Financial Statements.&#8221;</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577635"></A><A name="_Toc415063413"></A><A name="_Toc292442736"></A><A name="_Toc288278557"></A><A name="_Toc288271630"></A><A name="_Toc261486040"></A><A name="_Toc257080096"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</FONT></B></H1></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market risk is represented by the possibility of financial losses due to the variation of prices and interest rates of our financial assets, since its active and liability portfolios may have mismatches of periods, currencies and indexes. We are exposed to market risk, both in our trading and banking portfolios. The main market risks of our portfolios are interest rate risk and foreign exchange risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We use methodologies such as sensitivity analysis and Value at Risk (VaR), among others, for evaluating our market risk.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Interest rate risk</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Interest rate risk arises as a result of timing differences on the re-pricing of assets and liabilities, unexpected changes in the slope and shape of yield curves, base risk and changes in correlation of interest rates between different financial instruments/indexes. We are exposed to the risk of interest rate movements when there is a mismatch between fixed rates and market interest rates. For a discussion of our management of interest rate sensitivity, see "Item 5.B. Liquidity and Capital Resource &#8211; Interest rate sensitivity."</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Exchange risk</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Exchange risk arises as a result of our having assets, liabilities and off-balance sheet items that are denominated in, or indexed to, currencies other than </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>, either as a result of trading or in the normal course of banking activities. We control exposure to exchange rate movements by ensuring that mismatches are managed and monitored, and our policy is to avoid material exchange rate mismatches. For a discussion of our management of exchange rate sensitivity, see "Item 5.B. Liquidity and Capital Resource &#8211; Exchange rate sensitivity."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Market risk of trading activities</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We enter into derivatives transactions to manage our exposure to interest rate and exchange rate risk. As a result, our exposure to the potential losses described below is generally reduced by these transactions. These derivatives do not qualify as hedges under IFRS. Accordingly, we classify derivatives as </FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>financial assets held for trading.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Sensitivity analysis</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Below, a sensitivity analysis for our financial exposure in trading and banking portfolios, based on three scenarios applied to market rates and prices. We considered 25.0% and 50.0% shocks in prices and rates that would adversely affect our positions, and a scenario reflecting an impact of 1 basis point on rates and 1.0% on market prices. These scenarios comply with CVM Instruction No. 475/08.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>These figures represent the impact for each scenario in a static portfolio position. Due to the market and portfolios dynamism these positions change continuously and do not necessarily reflect the position shown here. In addition, the Bank has a process of ongoing management of the market risk, which seeks constantly, through the dynamism of the market, manners to mitigate the associated risks, according to the strategy defined by the Senior Management. Thus, in cases where there is evidence of deterioration of a certain position, proactive actions are taken to minimize the possible negative impacts, in order to maximize the risk/return ratio.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Risk Factor </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Market as of December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Scenarios </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1 base point shock for interest rate and 1% variation for prices</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>25% shock for prices and rates</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>50% shock for prices and rates</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Foreign exchange rate R$/USD</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>3.14</FONT></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>3.17</FONT></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>3.93</FONT></FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>4.72</FONT></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1-year fixed rate in reais</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>6.90%</FONT></FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>6.91%</FONT></FONT></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>8.62%</FONT></FONT></FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>10.35%</FONT></FONT></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Shocks were also applied to other risk factors and terms of the interest curves. It is important to note that, in the fourth quarter of 2017, the maximum deppreciation of the real against the U.S. dollar was 6.79% (from R$.1269 as of October, 4, 2017 to R$3.3391 as of December 14, 2017 per U.S. dollar), which is below the 25.0% and 50.0% shock scenarios.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The impacts of these scenarios on our positions would be as follows:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trading and banking portfolios </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Definition</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Scenarios <SUP>(1)</SUP></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest rate in</FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> reais</FONT></I></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of fixed interest rates and interest rate coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,579)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,339,939)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (4,560,181)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Price Index</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of price index coupon rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(512)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (56,130)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (107,716)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of foreign exchange coupon rates</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,575)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (80,110)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (158,548)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to foreign exchange variation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(600)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (15,004)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (30,008)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of share prices</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,289)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (407,237)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (814,475)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereigns/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of interest rates of securities traded abroad</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(4,978)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (205,764)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (406,054)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure not eligible in the previous definitions</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(307)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(613)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total not correlated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (36,545)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,104,491)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (6,077,595)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total correlated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (26,956)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,678,101)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,232,466)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts net of tax effects.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="38%" noWrap>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" noWrap align=right>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Banking portfolio</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;On December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="30%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Definition</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Scenarios <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest rate in reais</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of fixed interest rates and interest rate coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12,226)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,279,661)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (4,442,044)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Price index</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of price index coupon rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(368)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (38,791)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (74,890)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of foreign exchange coupon rates</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,567)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (79,720)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (157,768)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to foreign exchange variation</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,253)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (31,322)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (62,644)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable income</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation share prices</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(16,150)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (403,762)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (807,524)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereigns/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of interest rates of securities traded abroad</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,684)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (150,051)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (294,541)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure not eligible in the previous definitions</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(12)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(307)</FONT></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(613)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total not correlated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (34,260)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,983,614)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,840,024)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total correlated</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (25,050)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (2,567,670)</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,015,679)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="100%" colSpan=5 noWrap>

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts net of tax effects.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center>&nbsp;</P>

<a name="_bclFooter190"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>190</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_191"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader191"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Trading Portfolio </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="30%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="38%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Definition</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Scenarios <SUP>(1)</SUP></FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Interest rate in reais</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of fixed interest rates and interest rate coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(359)</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (61,497)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (120,385)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Price index</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of price index coupon rates </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(147)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (17,576)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (33,298)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of foreign exchange coupon rates</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(9)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(420)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(839)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to foreign exchange variation</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,629)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (40,736)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (81,473)</FONT></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable income</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation share prices</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(1,215)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (30,378)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (60,757)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereigns/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Exposure subject to the variation of interest rates of securities traded abroad</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; </FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>(2,469)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (61,730)</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (123,461)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total not correlated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (5,828)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (212,337)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (420,213)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total correlated</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="38%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (3,448)</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (131,662)</FONT></B></P></TD>

   <TD style="BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; (259,684)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>(1)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif> Amounts net of tax effects.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Value at Risk ("VaR")</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Trading portfolio's risk is measured using the Delta-Normal VaR methodology with a 99.0% confidence level, and the time horizon applied includes the number of days required to undo the existing exposures. Additionally, for the measurement of all risk factors of the options portfolio, the historic simulation models and Delta-Gama-Vega are applied, whichever is the most conservative of the two, whereby this risk of options is added to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>VaR</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> of the portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For the calculation of volatilities, correlations, and historic returns, a minimum window of 252 business days is adopted. The methodology applied and the existing statistical models are assessed on a permanent basis using backtesting techniques, which compare the VaR with holding periods of one day and hypothetical results, obtained with the same positions used in the VaR calculation, and effectively considering also the transactions of the day for which the VaR was estimated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The main purpose is to monitor, validate and evaluate the VaR model's adherence and the number of breaks occurred should be in line with the number of breaks accepted by the statistical tests carried out for the required level of confidence (99.0%). Another purpose is to improve the models used by us, by way of analyses carried out for different VaR observation periods and confidence levels, both for Total VaR and by risk factors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017 the daily results, both hypothetical and effective point of view, exceeded the respective VaR with a confidence level of 99.0% only once. In accordance with the paper published by the Basel Committee on Banking Supervision (Supervisory Framework for the use &#8220;Backtesting&#8221; in Conjunction with the Internal Models Approach to Market Risk Capital Requirements of January 1996), any deviations would be classified as &#8220;either bad luck or the markets moved in a fashion unanticipated by the model,&#8221; that is, the volatility was significantly higher than expected and/or the correlations differed from those forecast by the model.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, VaR of the trading portfolio, at one-day horizon and net of tax effects, presented maximum and minimum values of R$100.6 million in the 2Q17 and R$5.5 million in the 3Q17, respectively. </FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The tables below show the value at risk, according to the methodology of the </FONT><I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>VaR</FONT></I><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="59%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017 - R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>1<SUP>st</SUP> Quarter</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At March 31</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Minimum</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maximum</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais (fixed and floating rate) </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17,223 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8,364 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27,106 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,168 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign exchange coupon </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 751 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>64 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,883 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,007 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,871 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>17 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,203 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 977 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable income </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 418 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,677 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 572 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereign risk </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,557 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,154 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>6,989 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,072 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total VaR </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>20,552 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,145 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>29,972 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,261 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 1pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

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<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

   <TD style="BACKGROUND: gray; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="41%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="59%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017 - R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2<SUP>nd</SUP> Quarter</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At June 30</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Minimum</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maximum</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais (fixed and floating rate) </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>36,091 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,060 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>94,515 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>22,758 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign exchange coupon </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 556 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>62 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,908 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 139 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,399 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 129 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>7,743 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 245 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable income </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 601 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>8 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,851 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>94 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereign risk </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,599 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,922 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,949 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,363 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total VaR </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>39,043 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,301 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>100,640 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,133 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="41%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="59%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017 - R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3<SUP>rd</SUP> Quarter</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At September 30</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Minimum</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maximum</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais (fixed and floating rate) </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>16,688 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,493 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>25,965 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>19,883 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign exchange coupon </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 353 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,947 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 131 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 809 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 157 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,052 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,640 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable Income </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 385 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>60 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,975 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 270 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereign risk </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,739 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 702 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3,082 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,388 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>3 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total VaR </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18,542 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>5,499 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>27,900 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>23,262 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="41%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="59%" colSpan=4 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017 - R$ in thousands</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4<SUP>th</SUP> Quarter</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>At December&nbsp;31</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Minimum</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Maximum</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Risk Factors</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Reais (fixed and floating rate) </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif></FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>15,648 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>10,636 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>34,044 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>11,233 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign exchange coupon </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 357 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>12 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,802 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>48 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Foreign currency </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,058 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 358 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4,920 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,925 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Variable Income </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 311 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 118 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 871 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 289 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Sovereign risk </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1,214 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 455 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2,325 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; 826 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>2 </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&nbsp; - </FONT></P></TD>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>4 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>1 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="41%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Total VaR </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>18,150 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>13,026 </FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>37,485 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>14,417 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table shows trading portfolio VaR concentration in frequency terms in the year ended December 31, 2017:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Value at Risk (R$ in millions)</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>First Quarter</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Second Quarter</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Third Quarter</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Fourth Quarter</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Annual Average</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Up to R$20</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>15.6%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>79.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>48.8%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Over R$20 up to R$30</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>56.9%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>45.3%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>43.1%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>17.2%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>40.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Over R$30 up to R$40</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>12.5%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>4.3%</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Over R$40 up to R$50</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>3.1%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.8%</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Over R$50</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>23.4%</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>0.0%</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>5.8%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577636"></A><A name="_Toc415063414"></A><A name="_Toc292442737"></A><A name="_Toc288278558"></A><A name="_Toc288271631"></A><A name="_Toc261486041"></A><A name="_Toc257080097"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577637"></A><A name="_Toc415063415"></A><A name="_Toc292442738"></A><A name="_Toc288278559"></A><A name="_Toc288271632"></A><A name="_Toc261486042"></A><A name="_Toc257080098"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>12.A. Debt Securities</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577638"></A><A name="_Toc415063416"></A><A name="_Toc292442739"></A><A name="_Toc288278560"></A><A name="_Toc288271633"></A><A name="_Toc261486043"></A><A name="_Toc257080099"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>12.B. Warrants and Rights</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577639"></A><A name="_Toc415063417"></A><A name="_Toc292442740"></A><A name="_Toc288278561"></A><A name="_Toc288271634"></A><A name="_Toc261486044"></A><A name="_Toc257080100"></A></H1></DIV>

<a name="_bclFooter192"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>192</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_193"></A>

<P align=right>
<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader193"></a><DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; MARGIN-LEFT: 4.7pt; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>12.C. Other Securities</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND: gray; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="5%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="95%">

   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>12.C. Other Securities</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577640"></A><A name="_Toc415063418"></A><A name="_Toc292442741"></A><A name="_Toc288278562"></A><A name="_Toc288271635"></A><A name="_Toc261486045"></A><A name="_Toc257080101"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>12.D. American Depositary Shares</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The table below describes the services and the respective rates and fees that the direct or indirect holders of our ADRs (preferred and common) may be subject to pay to our depositary bank, The Bank of New York Mellon (&#8220;BNYM&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: #000000 1px solid; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>RATES AND FEES</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>SERVICE</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>US$0.05 (or less) for ADSs or common share ADSs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Issuance of ADSs or common share ADSs, including issuances from share distribution, rights or other assets.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; ADS or common share ADS cancellation due to withdrawal, including in the event the deposit agreement is terminated.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>US$0.02 (or less) per ADSs or common share ADSs.</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Any cash distribution to registered ADS or common share ADS holders.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>A fee equivalent to the one that should be paid if the distributed bonds were equivalent to shares and shares were deposited for the issuance of ADSs or common share ADSs.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Distribution of bonds to deposit holders, which are distributed by the depositary to registered ADS or common share ADS holders.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>US$0.02 (or less) per ADSs or common share ADSs per year.</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Depositary services.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Registration or transfer fees.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Transfer and registration of shares in custodian's books on behalf of the depositary or his/her agent, when shares are deposited or withdrawn.</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: #000000 1px solid; BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Depositary's expenses.</FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Expenses related to telegram, telephone and fax (when expressly indicated in the deposit agreement).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; Converting foreign currency into U.S. dollars.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Taxes and other governmental fees the depositary or the custodian must pay on any ADS or common share ADSs, or share backed by any ADS or common share ADSs, for example: taxes for transfer of shares, stamp tax or withholding taxes.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; As necessary.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Any costs incurred by the depositary or the agent for services provided relating to deposited bonds.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>&#183; As necessary.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>From January 1 to December 31, 2017, we received from our depositary bank the amount of US$15.4 million, as reimbursement or payment made in our favor.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577641"></A><A name="_Toc415063419"></A><A name="_Toc292442742"></A><A name="_Toc292385946"></A><A name="_Toc292095003"></A><A name="_Toc291077140"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>PART II</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><A name="_Toc415063420"></A><A name="_Toc292442743"></A><A name="_Toc288278563"></A><A name="_Toc288271636"></A><A name="_Toc261486046"></A><A name="_Toc257080102"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT></B></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577642"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577643"></A><A name="_Toc415063421"></A><A name="_Toc292442744"></A><A name="_Toc288278564"></A><A name="_Toc288271637"></A><A name="_Toc261486047"></A><A name="_Toc257080103"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

<DIV style="BORDER-TOP: windowtext 1.5pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577644"></A><A name="_Toc415063422"></A><A name="_Toc292442745"></A><A name="_Toc288278565"></A><A name="_Toc288271638"></A><A name="_Toc261486048"></A><A name="_Toc257080104"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 15. CONTROLS AND PROCEDURES</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Financial responsibility, disclosure controls and procedures, and report on internal control over financial reporting.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(a)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Disclosure controls and procedures</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>As of December 31, 2017, evaluations of the effectiveness of our disclosure controls and procedures (as defined in Articles 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 of the SEC) were carried out under the supervision of our Management, including our Chief Executive Officer and Chief Financial Officer. There are inherent limitations to the effectiveness of any system of disclosure controls and procedures, and it may not prevent or identify deficiencies. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their control objectives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Based upon the evaluation referred to above, our Chief Executive Officer and Chief Financial Officer concluded, subject to the limitations noted above, that for the period covered by this annual report, our disclosure controls and procedures were adequate and effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act of the </FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>193</FONT></FONT><FONT><FONT style="DISPLAY: none"><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 16. [RESERVED]</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt; TEXT-INDENT: 35.45pt"><FONT face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 6pt; LINE-HEIGHT: normal" color=black face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SEC is recorded, processed, summarized and disclosed within the time periods specified in the applicable rules and forms, and that it is accumulated and communicated to our Management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(b)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Management's annual report on internal control over financial reporting</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Articles 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934 of the SEC. Our internal control was designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting pratices.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Management made an assessment of the effectiveness of our internal control over consolidated financial reporting as of December 31, 2017 based upon the 2013 framework "Integrated Internal Control Structure" established by the Committee of Sponsoring Organizations of the Treadway Commission (&#8220;COSO&#8221;) and has concluded that our internal control over financial reporting was effective.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The effectiveness of our internal control over financial reporting, as of December 31, 2017, has been audited by KPMG Auditores Independentes, a PCAOB &#8211; registered independent accounting firm, as stated in their report beginning on page F-3 of "Item 18. Financial Statements."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(c)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Attestation report of the independent registered public accounting firm</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>For the report of KPMG Auditores Independentes, our PCAOB &#8211; registered independent accounting firm, dated April <FONT style="FONT-SIZE: 10pt" face=Arial>30</FONT>, 2018, on the effectiveness of the internal control over financial reporting as of December 31, 2017, see "Item 18. Financial Statements."</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(d)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Changes in internal control over financial reporting</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Except for the implementation of&nbsp;certain new processes and internal controls related to the&nbsp;classification and measurement of financial instruments and impairment of loans and advances, in which includes: (i) new models for the classification and measurement of financial instruments; (ii) measurement of expected credit losses for financial assets; and (iii) new requirements on hedge accounting, in order to estimate the impacts on shareholders' equity in relation to the adoption of IFRS 9 and prospective application, there have been no changes in our internal control over financial reporting (as such term is defined in Articles 13a-15(f) and 15d-15(f) under the "Securities Exchange Act of 1934" of the SEC) that occurred during the fiscal year ended December 31, 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577645"></A><A name="_Toc415063423"></A><A name="_Toc292442746"></A><A name="_Toc288278566"></A><A name="_Toc288271639"></A><A name="_Toc261486049"></A><A name="_Toc257080105"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 16. [RESERVED]</FONT></B></H1></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577646"></A><A name="_Toc415063424"></A><A name="_Toc292442747"></A><A name="_Toc288278567"></A><A name="_Toc288271640"></A><A name="_Toc261486050"></A><A name="_Toc257080106"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.A. Audit Committee Financial Expert</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our Board of Directors has reviewed the qualifications and backgrounds of the members of the Audit Committee and designated Paulo Roberto Sim&#245;es da Cunha as "Audit Committee financial expert," within the meaning of Item 16.A, and as independent member. For more information regarding our Audit Committee, see "Item 6.C. Board Practices &#8211; Board Committees &#8211; Audit Committee."</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>We have adopted a Code of Ethics and Sectorial Codes of Ethics under the Securities Exchange Act of 1934, as amended. Our Codes of Ethics apply to our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer and persons performing similar functions, to our directors, officers and other executives, employees, business partners, suppliers and service providers. Our Codes of Ethical Conduct are available on our website at www.bradesco.com.br/ir. If we amend the provisions of our Codes of Ethical Conduct, or if we grant any waiver of such provisions, we will disclose such amendment or waiver on our website at the same address.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577648"></A><A name="_Toc415063426"></A><A name="_Toc292442749"></A><A name="_Toc288278569"></A><A name="_Toc288271642"></A><A name="_Toc261486052"></A><A name="_Toc257080108"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.C. Principal Accountant Fees and Services</FONT></B></H1></DIV>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Audit and non-audit fees</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The following table sets forth the fees billed to us by our independent accounting firm during the fiscal years ended as of December 31, 2017 and 2016: </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>194</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 0pt; TEXT-INDENT: 4.75pt" align=left><FONT color=windowtext face=calibri,sans-serif><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif></FONT></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>16.D. Exemptions from the listing standards for Audit Committees</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Year ended December 31,</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>R$ in thousands</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Audit fees </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;40,604 </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;38,504 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Audit-related fees </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;775 </FONT></P></TD>

   <TD style="BACKGROUND: #d9d9d9; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;2,008 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 10pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Other fees </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;2,321 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;3,213 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>Total fees </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;43,700 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #d9d9d9; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=arial,sans-serif>&nbsp;43,725 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The fees for the years 2017 and 2016 correspond to those paid to our auditor for those years (KPMG Auditores Independentes).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Our independent accounting firm audits our annual financial statements in accordance with IFRS and BR GAAP, the annual financial statements of our investee companies, as well as the quarterly review of our interim financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Audit-related fees in the above table are the aggregate fees billed by the independent auditors for accounting attestation reports requested by our Management and the issue of comfort letters for placement of bonds abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Other fees in the above table are fees billed by the independent auditors primarily related to agreed upon procedures, due diligence and reviews of, substantially, financial, fiscal and actuarial information.</FONT></P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=arial,sans-serif>Audit Committee pre-approval policies and procedures</FONT></I></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The Audit Committee recommends to the Board of Directors for approval, the entity to be hired to provide us and our subsidiaries independent audit services, and their compensation, as well as its replacement. The engagement of an independent auditor for non-audit services is not subject to the Board of Directors. However, it must be previously reviewed by the Audit Committee in respect to compliance with independence rules. For more information regarding our Board of Directors and Audit Committee, see "Item 6.C. Board of Directors Practices."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577649"></A><A name="_Toc415063427"></A><A name="_Toc292442750"></A><A name="_Toc288278570"></A><A name="_Toc288271643"></A><A name="_Toc261486053"></A><A name="_Toc257080109"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.D. Exemptions from the listing standards for Audit Committees</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the NYSE and the SEC listed-company audit committee rules effective July 31, 2006, we must comply with Exchange Act Rule 10A-3, which requires us to either establish an Audit Committee composed of members of the Board of Directors that meets specified requirements or designate and empower a Fiscal Council or similar body to perform the role of an Audit Committee based on the exemption in Exchange Act Rule 10A-3(c)(3).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to Central Bank regulations, we have established a body denominated Audit Committee, which performs nearly all of the functions of an Audit Committee of a U.S. company. Of the three members of our Audit Committee, one member is also a member of our Board of Directors. Under Brazilian law, the function of hiring independent auditors is a power reserved for the Board of Directors. As a result, our Board of Directors acts as our Audit Committee, as specified in Section 3(a)(58) of the Exchange Act, for purposes of approving the engagement of our independent auditors for audit. Except in these respects, our Audit Committee is comparable to and performs the functions of an audit committee of the Board of Directors of a U.S. company. Since our Audit Committee is not a committee of our Board of Directors, but a separate body, as required under Brazilian law, we believe that our Audit Committee satisfies the requirements of Exchange Act Rule 10(a)(3). However, based on the exemption set forth in Exchange Act Rule 10A-3(c)(3) the Audit Committee is a separate body from our Board of Directors and in accordance with Central Bank regulations, we believe that our Audit Committee is able to act independently in performing the responsibilities of an Audit Committee under the Sarbanes-Oxley Act and to satisfy the other requirements of Exchange Act Rule 10A-3.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577650"></A><A name="_Toc415063428"></A><A name="_Toc292442751"></A><A name="_Toc288278571"></A><A name="_Toc288271644"></A><A name="_Toc261486054"></A><A name="_Toc257080110"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The purpose of the program of acquisition of shares to be held in treasury and to be subsequently disposed of or canceled, without capital reduction, is the application of funds available for investments from the "Earnings Reserve &#8211; Statutory Reserve" account. This program authorizes the acquisition of up to 15,000,000 nominative book-keeping shares, with no par value, whereby 7,500,000 are common shares and 7,500,000 are preferred shares; and it is effective from June 27, 2017 until June 26, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In 2017, any class of shares were acquired to be held in treasury.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577651"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.F. Change in Registrant's Certifying Accountant</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Not applicable.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577652"></A><A name="_Toc415063430"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>16.G. Corporate Governance</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>In May 2006, our Board of Directors approved our Corporate Governance Policy. This policy is available on our website at www.bradesco.com.br/ri.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Comparison of our corporate governance practices with NYSE rules applicable to North American companies</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Under the NYSE&#8217;s corporate governance rules approved by the SEC, foreign private issuers are subject to a more limited set of corporate governance requirements than U.S. domestic issuers. As a foreign private issuer, we must comply with three rules imposed by the NYSE:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SEC requirements concerning audit committees;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>our CEO must promptly notify the SEC in writing as soon as an executive officer becomes aware of any non-compliance with any of the applicable NYSE corporate governance rules; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 56.7pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>we must provide a brief description disclosing any significant ways in which our corporate governance practices differ from those followed by U.S. companies under NYSE listing standards.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The chart below provides a brief description of the significant differences between our corporate governance practices and those followed by U.S. companies under NYSE listing standards.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Article</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>NYSE corporate governance rules for US issuers </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Our corporate governance practices</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.01</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Independent directors must comprise a majority of the members of the Board of Directors of a listed company on NYSE.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Brazilian law provides that only individuals may be appointed to a company's Board of Directors. Accordingly, there is no legal or statutory provision requiring us to have independent directors. </FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.03</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 61.7pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Non</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face="ms gothic">&#8209;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>management directors of a listed company must meet at regularly scheduled executive sessions without the Board of Executive Officers.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Among our Directors, two are members of the Board of Executive Officers </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Diretoria Executiva</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> (Vice-Presidents). The directors have regularly scheduled executive sessions at least once a year</FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif> </FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>in order to evaluate their performance.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.04</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Listed companies must have a nomination/ corporate governance committee composed entirely of independent directors, with a written charter that addresses specific minimum requirements.</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 74.05pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>We have an Executive Committee of Corporate Governance subordinate to the </FONT><I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Diretoria Executiva</FONT></I><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>, and the Succession Planning and Nomination Committee, which reports to the Board of Directors. Both committees are composed of members of our Management, and have a charter that addresses its minimum requirements.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Listed companies must have a compensation committee composed entirely of independent directors, with a written charter that addresses specific minimum requirements.</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 135.7pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>We have a Compensation Committee of three to seven members chosen among the members of the Board of Directors, except for one who is not a senior manager, each with a five-year term of office. The committee's primary responsibility is to assist the Board of Directors with conducting policies related to the compensation of our executive managers, according to legislation in force. None of the members of the Compensation Committee are independent directors. The Compensation Committee has a written charter that states the responsibilities of the committee.</FONT></P></TD></TR></TABLE><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>196</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>16.G. Corporate Governance</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.06</FONT></B></P><BR>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>303A.07</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Listed companies must have an audit committee, composed by a minimum of three members who satisfy the requirements of Rule 10A</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="ms gothic">&#8209;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3 under the Exchange Act, with a written charter that addresses specific minimum requirements.</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Pursuant to our Bylaws and to Central Bank regulations since December 2003, we have appointed an Audit Committee. Our Audit Committee comprises three to five members, each of whom serves for a term of five years, and is appointed by, and may be replaced by, the Board of Directors. We currently have three members on our Audit Committee, one of them is also our director. Under Brazilian law, the function of hiring independent auditors is reserved for the Board of Directors of a company. As a result, our Board of Directors acts as our Audit Committee, as specified in Section 3(a)(58) of the Exchange Act, for purposes of approving the engagement of our independent auditors for audit. Except in these respects, our Audit Committee is comparable to and performs the functions of audit committees of U.S. companies. Since our Audit Committee is a separate body from our Board of Directors, pursuant to Central Bank regulations, we have relied on the exemption set forth in Exchange Act Rule 10A-3(c)(3) in this regard. For more information on their main tasks, see "Item 6.C. Board Practices &#8211; Board Advisory Committees &#8211; Board Committees.&#8221;</FONT></P><BR>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>We also have a Fiscal Council, which currently has five members and five alternates. The Fiscal Council is an independent corporate body.</FONT></P><BR>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>For more information about the rights and obligations of our Fiscal Council, see "Item 6.C. Board Practices &#8211; Fiscal Council.&#8221;</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.08</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Shareholders must be given the opportunity to vote on equity-compensation plans and material revisions thereto, with limited exemptions set forth in the NYSE rules.</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 50.05pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Under the Brazilian Corporate Law, shareholder approval is required for the adoption of any compensation plans upon delivery of equity interests. We currently do not have any stock option based compensation plan.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.09</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 37.7pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Listed companies must adopt and disclose corporate governance guidelines addressing specific minimum requirements.</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 37.7pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Our corporate governance guidelines and practices are available in our website at www.bradesco.com.br/ri, in the corporate governance section.</FONT></P></TD></TR>

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   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 123.35pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=middle rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.10</FONT></B></P><BR>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 123.35pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top rowSpan=2 width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Listed companies must adopt and disclose a Code of Ethical Conduct for directors, officers and employees, and promptly disclose any waivers of the code for directors or executive officers.</FONT></P><BR>

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   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 123.35pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt" vAlign=top rowSpan=2 width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>We have adopted a Code of Ethical Conduct, which applies to our Senior Management, employees, business partners, suppliers and service providers, parent companies, subsidiaries and companies under common control, directly or indirectly and, when applicable, to non-profit entities managed by members of Senior Management or employees appointed or transferred by our member companies. We have an Ethical Conduct Committee, appointed by the Board of Directors, which is responsible for dissemination and fulfillment of the Codes of Ethical Conduct, as well as ensuring its effectiveness.</FONT></P><BR>

   <P style="MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>We will post any modifications or waivers to either Codes of Ethical Conduct on our website.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>303A.12</FONT></B></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 50.05pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt; BACKGROUND-COLOR: #bfbfbf" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 5pt 0pt 0in" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>A CEO of a listed company must promptly notify the NYSE in writing after any executive officer of the listed company becomes aware of any non-compliance with any applicable provisions of Section 303A.</FONT></P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 50.05pt; BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 1.5pt; BACKGROUND-COLOR: #bfbfbf" vAlign=top width="45%" align=left>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 5pt" align=left><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=arial,sans-serif>Our CEO shall promptly notify the NYSE in writing, should any executive officer become aware of any non-compliance with any applicable provision of the NYSE corporate governance rules.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 6pt 0in; TEXT-INDENT: 0in" align=left><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif>19<FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT></FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> Bradesco</FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif> </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0pt 6pt 602.45pt; TEXT-INDENT: 0in"><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT>&nbsp;</P></DIV>

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<A href="#page_2"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=Arial,sans-serif>Table of Contents</FONT></A></P>

<a name="_bclHeader198"></a><DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=right><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>PART III</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: -3.05pt" align=right><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P></DIV>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577653"></A><A name="_Toc415063431"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>PART III</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 68pt; TEXT-INDENT: -34pt"><FONT lang=EN-US style="FONT-SIZE: 1pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577654"></A><A name="_Toc415063432"></A><A name="_Toc292442754"></A><A name="_Toc288278574"></A><A name="_Toc288271647"></A><A name="_Toc261486057"></A><A name="_Toc257080113"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 17. FINANCIAL STATEMENTS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See "Item 18. Financial Statements."</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577655"></A><A name="_Toc415063433"></A><A name="_Toc292442755"></A><A name="_Toc288278575"></A><A name="_Toc288271648"></A><A name="_Toc261486058"></A><A name="_Toc257080114"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 18. FINANCIAL STATEMENTS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>See our financial statements on pages F-2 through F-153.</FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577656"></A><A name="_Toc415063434"></A><A name="_Toc292442756"></A><A name="_Toc288278576"></A><A name="_Toc288271649"></A><A name="_Toc261486059"></A><A name="_Toc257080115"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>ITEM 19. EXHIBITS</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 68pt; TEXT-INDENT: -34pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Documents filed as exhibits to this annual report:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit01_1.htm">1.1 - Our Amended and Restated Bylaws.</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2.1 - Deposit Agreement, amended and restated, dated as of December 11, 2015, by and among us, The Bank of New York Mellon, as depositary, and the holders and beneficial owners of preferred share ADSs evidenced by preferred share ADRs issued thereunder (incorporated by reference to the Registration Statement on Form F-6 relating to the ADSs filed on December 1, 2015 (File No. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>333-208281</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>)).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2.2 &#8211; Common share Deposit Agreement, amended and restated, dated as of December 11, 2015, by and among us, The Bank of New York Mellon, as depositary, and the holders and beneficial owners of common share ADSs evidenced by common share ADRs issued thereunder (incorporated by reference to the Registration Statement on Form F-6 relating to the common share ADSs filed on December 1, 2015 (File No. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>333-179623</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>)).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>2.3 - </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>The total amount of our long-term debt securities and our subsidiaries&#8217; long-term debt securities under any one instrument does not exceed 10.0% of our total assets and our subsidiaries&#8217; total assets on a consolidated basis. We agree to furnish copies of any or all such instruments to the SEC upon reque</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>st.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>4.1+ &#8211; Share Purchase Agreement dated July 31, 2015 between HSBC Latin America Holdings (UK) and us </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>(incorporated by reference to the Annual Report on Form 20-F/A filed on August 29, 2016 &#8211; File No. 001-15250).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 22.7pt; TEXT-INDENT: -22.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit06_1.htm">6.1 - Calculation of earnings per share data and weighted average number of shares outstanding</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit07_1.htm">7.1 - Calculation of dividends/interest on equity per share data</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in; TEXT-INDENT: 0in" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit08_1.htm">8.1 - List of Subsidiaries</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit08_1.htm">.</A></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit12_1.htm">12.1 - Certification of the Chief Executive Officer, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>
<A href="exhibit12_1.htm">.</A></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>19<FONT style="FONT-SIZE: 8pt" face=Arial>8</FONT></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><B><FONT><FONT color=windowtext face=calibri,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif><U>ITEM 19. EXHIBITS</U></FONT></B></FONT></FONT></B><B><FONT><FONT color=windowtext face=calibri,sans-serif></FONT></FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align=left><FONT color=windowtext face=calibri,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=calibri,sans-serif>Form 20-F</FONT></FONT><FONT color=windowtext face=calibri,sans-serif></FONT></P></TD></TR></TABLE></DIV>

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<A href="exhibit12_2.htm">12.2 - Certification of the Chief Financial Officer, pursuant to Rules 13a-14 and 15d-14 under the Securities Exchange Act of 1934</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

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<A href="exhibit13_1.htm">13.1 - Certification of the Chief Executive Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

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<A href="exhibit13_2.htm">13.2 - Certification of the Chief Financial Officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002</A></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;+ Registrant has omitted portions of the referenced exhibit pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT style="DISPLAY: none" color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>198</FONT></FONT><FONT color=black><FONT style="DISPLAY: none"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif></FONT></FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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<H1 style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 6pt 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><A name="_Toc479577657"></A><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>SIGNATURES</FONT></B></H1></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant certifies that it meets all the requirements for filing on Form 20-F and has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 177pt; TEXT-INDENT: 35.4pt"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Banco Bradesco S.A.</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 6pt 177pt; TEXT-INDENT: 35.4pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 6pt 0in 6pt 247.8pt; TEXT-INDENT: 0in" align=left><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/s/ Octavio de Lazari Junior&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif><BR>Octavio de Lazari Junior<BR>Chief Executive Officer</FONT></P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 247.8pt; TEXT-INDENT: 0in" align=left><U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>/s/ Andr&#233; Rodrigues Cano&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <BR>Andr&#233; Rodrigues Cano</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in; TEXT-INDENT: 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=windowtext face=Arial,sans-serif>Date: April 30, 2018.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 6pt 7pt 6pt 432.35pt; TEXT-INDENT: -432.35pt" align=right><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>200</FONT></FONT></FONT><FONT color=black><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif>Form 20-F &#8211; December 2017</FONT></FONT><FONT color=black><FONT lang=EN-GB style="FONT-SIZE: 8pt; LINE-HEIGHT: 18pt" color=black face=Arial,sans-serif> </FONT></FONT><FONT color=black></FONT></P>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Independent </FONT><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Auditors<FONT size=2 face=Arial>'</FONT> Report</FONT>&nbsp;</TD>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Consolidated Statements of Income</FONT>&nbsp;</TD>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Consolidated Statements of Comprehensive Income</FONT>&nbsp;</TD>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Consolidated Statements of Financial Position</FONT>&nbsp;</TD>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Consolidated Statements of Changes in Equity</FONT>&nbsp;</TD>

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   <TD align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Consolidated Statements of Cash Flows</FONT>&nbsp;</TD>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>Notes to the Consolidated Financial Statements</FONT>&nbsp;</TD>

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   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>1)</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>General information</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-12</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>28)</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Property and equipment</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-121</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Significant accounting practices</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-12</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>29)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Intangible assets and goodwill</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-123</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Risk Management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>30)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Other assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-124</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.1.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Credit risk</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>31)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Deposits from banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-125</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.2.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Market risk</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-55</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>32)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Deposits from customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-125</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.3.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Liquidity risk</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-66</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>33)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Funds from securities issued</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-125</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.4.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Fair value of financial assets and liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>34)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Subordinated debt</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-127</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.5.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Capital management</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-82</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>35)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-128</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>3.6.</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Insurance risk/subscription risk</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-87</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>36)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Supplemental pension plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-136</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Estimates and judgments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-93</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>37)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Provisions, contingent liabilities and contingent assets</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-138</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Operating segments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-96</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>38)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Other liabilities</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-142</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>6)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net interest income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-100</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>39)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Equity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-143</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>7)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net fee and commission income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>40)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Transactions with related parties</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-145</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net gains/(losses) on financial instruments classified as held for trading</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>41)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Off-balance sheet commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-147</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>42)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>New standards and amendments and interpretations of existing standards</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-148</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>10)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-101</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>43)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Other information</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-151</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>11)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap align=center>

   <P style="MARGIN-BOTTOM: 2pt" align=center><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>44)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Subsequent events</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-153</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>12)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Impairment of loans and advances</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-102</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>13)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Personnel expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>14)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Other administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>15)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Depreciation and amortization</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>16)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Other operating income/(expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>17)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Income tax and social contribution</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-104</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>18)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Earnings per share</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-107</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>19)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Cash and cash equivalents</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>20)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Financial assets and liabilities held for trading</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-108</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>21)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Financial assets available for sale</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-113</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>22)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Investments held to maturity</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-114</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>23)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>24)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Loans and advances to banks</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-115</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>25)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Loans and advances to customers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-116</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>26)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Non-current assets held for sale</FONT></P></TD>

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   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-117</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>27)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%" colSpan=2 noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT lang=EN-US style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap align=right>

   <P style="MARGIN-BOTTOM: 2pt" align=right><FONT style="FONT-FAMILY: Arial; LINE-HEIGHT: normal" color=#000000 size=2>F-118</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%" noWrap>

   <P style="MARGIN-BOTTOM: 2pt"><FONT style="FONT-FAMILY: Arial" size=2></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-2</FONT></B></FONT></FONT></B><B><FONT><FONT style="BACKGROUND: darkgray" face=arial,sans-serif><FONT style="DISPLAY: none"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=black face=arial,sans-serif></FONT></B></FONT></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Report of Independent Registered Public Accounting Firm</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">To the Board of Directors and Stockholders</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Banco Bradesco S.A.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting</FONT></I></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">We have audited the accompanying consolidated statement of financial position of Banco Bradesco S.A. and subsidiaries (&#8220;Bradesco&#8221;) as of December 31, 2017 and 2016, the related consolidated statements of income, comprehensive income, changes in equity, and cash flows for each of the years in the three-year period ended December 31, 2017 and the related notes. We also have audited Bradesco&#8217;s internal control over financial reporting as of December 31, 2017, based on criteria established in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Internal Control &#8211; Integrated Framework (2013)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Banco Bradesco S.A. and subsidiaries as of December 31, 2017 and 2016, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2017, in conformity with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). Also in our opinion, Bradesco maintained, in all material respects, effective internal control over financial reporting as of December 31, 2017, based on criteria established in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Internal Control &#8211; Integrated Framework (2013)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"> issued by the Committee of Sponsoring Organizations of the Treadway Commission.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Basis for Opinions </FONT></I></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Bradesco&#8217;s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management&#8217;s Annual Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on Bradesco&#8217;s consolidated financial statements and an opinion on Bradesco&#8217;s internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Bradesco in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-3</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Definition and Limitations of Internal Control Over Financial Reporting </FONT></I></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">KPMG Auditores Independentes</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">We have served as the Company&#8217;s auditor since 2011.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">Osasco, Brazil</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light">April 30, 2018</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-4</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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   <P style="MARGIN: 0in 0in 0pt">&nbsp;&nbsp;<B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Note</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest and similar income</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>126,232,328</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>147,700,375</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>127,048,252</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest and similar expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(75,589,415)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(91,037,386)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(71,412,210)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>50,642,913</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>56,662,989</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>55,636,042</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fee and commission income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>22,748,828</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>20,341,087</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17,856,873</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fee and commission expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(36)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(36,203)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>22,748,828</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>20,341,051</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17,820,670</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>9,623,108</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>16,402,770</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(8,252,055)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>570,358</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(1,341,400)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(671,810)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Losses on investments held-to-maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(54,520)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,422,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>150,757</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(3,523,095)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>6,239,990</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,155,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>5,497,505</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17,801,893</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>19,367,890</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(6,949,455)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(16,860,835)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(15,350,278)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(14,721,152)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>13</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(20,723,265)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(17,003,783)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(14,058,047)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>14</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(16,882,461)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(16,149,563)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(13,721,970)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(4,568,568)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(3,658,413)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,942,003)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>16</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(10,133,357)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(14,004,162)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(12,988,553)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating expense</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(69,168,486)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(66,166,199)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(58,431,725)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes and share of profit of associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>22,025,148</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>30,205,731</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>8,075,532</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>27</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,718,411</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,699,725</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,528,051</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>23,743,559</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>31,905,456</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>9,603,583</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(6,428,956)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(13,912,730)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>8,634,322</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17,314,603</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>17,992,726</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>18,237,905</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to shareholders:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Controlling shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,089,364</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,894,249</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,132,906</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,477</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,999</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Basic and diluted income per share based on the weighted average number of shares attributable to shareholders (expressed in R$ per share):</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8211; Earnings per common share</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.67</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.80</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.84</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8211; Earnings per preferred share</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.94</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3.08</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3.12</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,314,603</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,992,726</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,237,905</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Items that are or may be reclassified to the Consolidated Statement of Income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Unrealized gains/(losses) on financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,931,550</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,757,475</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,754,469)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Realized gains/(losses) on financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>487,017</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,459,372)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(923,433)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tax effect</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,231,202)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,587,076)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,273,982</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange differences on translations of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign exchange on translations of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(194,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>118,485</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tax effect</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,992</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,555</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(57,788)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total adjustments not included in the net income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,216,367</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,604,016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,343,223)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total comprehensive income for the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,530,970</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,596,742</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,894,682</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to shareholders:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Controlling shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,305,731</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,498,265</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,789,683</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,477</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,999</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements.</FONT></P>

<H2 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</H2>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>6</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_213"></A>

<a name="_bclHeader213"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Statements of Financial Position</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Note</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>19</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,742,951</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>72,554,651</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20a</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,710,041</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>213,139,846</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>21</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,412,722</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,118,554</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,006,118</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,002,028</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>23</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>183,975,173</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>155,286,577</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to banks, net of impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to customers, net of impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>25</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>26</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,520,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,578,966</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments in associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Premises and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>28</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,432,475</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>29</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,179,307</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,797,526</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Taxes to be offset</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17g</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,524,575</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,723,211</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17c</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,731,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,116,863</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,853,987</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,170,370</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,224,353,440</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,192,029,656</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,957,468</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,662,682</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>32</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,008,445</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,747,929</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20b</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,274,999</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,435,678</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>33</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,174,090</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,101,938</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>34</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,179,401</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Technical provisions for insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>35</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,089,590</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>215,840,000</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>37</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,490,727</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,292,409</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current income tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,416,345</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,130,286</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17c</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,251,847</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,762,948</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>38</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,816,824</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,965,515</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,106,659,736</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,086,550,449</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholders&#8217; equity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>39</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,100,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,100,000</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(440,514)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(440,514)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Capital reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Profit reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,481,227</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,027,816</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additional paid-in capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,817,659</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(398,708)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Retained earnings</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,338,990</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,907,381</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity attributable to controlling shareholders</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,403,831</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,302,444</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>289,873</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>176,763</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,693,704</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,479,207</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,224,353,440</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,192,029,656</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-7</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><FONT><I><FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Consolidated Statements of Changes in Equity</FONT></I></B></FONT></I></FONT></B></P></DIV>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=3 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="76%" colSpan=11>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Treasury shares</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Capital reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="13%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Profit reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Additional paid-in capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Other comprehensive income (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Equity attributable to&nbsp; controlling shareholders</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Legal</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Statutory</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,100,000</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(298,015)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,193,467</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,571,882</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(659,501)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,153,439</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>82,167,741</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>124,064</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>82,291,805</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,132,906</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,132,906</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,999</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,237,905</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,403,920)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,403,920)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,403,920)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,697</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,697</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,697</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,789,683</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,999</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,894,682</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase of non-controlling shareholders&#8217; interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,446</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,446</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Purchase of treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(133,033)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(133,033)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(133,033)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Capital increase of with reserves (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,000,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,000,000)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transfers to reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>859,482</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,295,189</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,154,671)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest on equity and dividends</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,034,964)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,034,964)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(132,174)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,167,138)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,100,000</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(431,048)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,052,949</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,867,071</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,002,724)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,096,710</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>90,789,427</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,335</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>90,914,762</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,894,249</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,894,249</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,477</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,992,726</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,711,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,711,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,711,027</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(107,011)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(107,011)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(107,011)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,498,265</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,477</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,596,742</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase of non-controlling shareholders&#8217; interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,265</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,265</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Purchase of treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,466)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,466)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,466)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Capital increase of with reserves (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,000,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,000,000)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transfers to reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>754,179</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,353,617</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,107,796)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest on equity and dividends</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,975,782)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,975,782)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(50,314)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,026,096)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31,&nbsp; 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,100,000</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(440,514)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,807,128</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,220,688</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(398,708)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,907,381</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,302,444</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>176,763</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,479,207</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements. </FONT>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-8</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></FONT></FONT></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Statements of Changes in Equity </FONT></I></B><FONT face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>(continued)</FONT></I></B></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="76%" colSpan=11>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Treasury shares</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Capital reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Profit reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Additional paid-in capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Other comprehensive income (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Retained earnings</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Equity attributable to&nbsp; controlling shareholders</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Non-controlling interest</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Legal</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7.5pt" color=windowtext face=arial,sans-serif>Statutory</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31,&nbsp; 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,100,000</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(440,514)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,807,128</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,220,688</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(398,708)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,907,381</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,302,444</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>176,763</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,479,207</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,089,364</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,089,364</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,314,603</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,187,365</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,187,365</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,187,365</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign currency translation adjustment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,002</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,002</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,002</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,305,731</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,530,970</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase of non-controlling shareholders&#8217; interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,099</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,099</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Capital increase with reserves (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,000,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,000,000)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transfers to reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>732,888</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,720,523</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,453,411)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,204,344)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,204,344)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(114,228)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,318,572)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31,&nbsp; 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>59,100,000</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(440,514)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,973</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,540,016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,941,211</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,817,659</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,338,990</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,403,831</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>289,873</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,693,704</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 1pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=Arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: normal" face=Arial,sans-serif>In 2017, consists, basically of unrealized net gains/losses of marketable securities, classified as available for sale (Notes 21 and 23), whose accumulated effect net of taxes amounts to R$ (1,070,252) thousand (December 2016 &#8211; R$ 154,958 thousand); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 1pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=Arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: normal" face=Arial,sans-serif>At Special Shareholders&#8217; Meeting held on March 10, 2015, the shareholders deliberated the increase of Capital stock by R$ 5,000,000 thousand, from R$ 38,100,000 thousand to R$ 43,100,000 thousand, through capitalization of part of the balance of the caption &#8220;Profit reserves - Statutory Reserve&#8221;, in conformity with Article 169 of Law No. 6.404/76, with bonus of 20% in shares, with issuance of 841,454,808 new registered shares, without par value, of which 420,727,426 are common and 420,727,382 are preferred shares. These shares are granted to the shareholders, free of charge, as bonus, at the proportion of&nbsp;two (2) new share to each ten (10) shares of the same type held by them, which benefits the shareholders enrolled in the records of Bradesco on March 26, 2015;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 1pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=Arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: normal" face=Arial,sans-serif>At Special Shareholders&#8217; Meeting held on March 10, 2016, the shareholders approved the Board of Directors&#8217; proposal to increase the capital by R$ 8,000,000 thousand, from R$ 43,100,000 thousand to R$ 51,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption &#8220;Profit reserves - Statutory Reserve&#8221;, in conformity with Article 169 of Law No. 6.404/76, with issuance of 504,872,885 new registered shares, without par value, of which 252,436,456 are common and 252,436,429 are preferred shares, which will be granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 1pt 0.25in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" face=Arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: normal" face=Arial,sans-serif>At Special Shareholders&#8217; Meeting held on March 10, 2017, the shareholders approved the Board of Directors&#8217; proposal to increase the capital by R$ 8,000,000 thousand, from R$ 51,100,000 thousand to R$ 59,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption &#8220;Profit reserves - Statutory Reserve&#8221;, in conformity with Article 169 of Law No. 6.404/76, with issuance of 555,360,173 new registered shares, without par value, of which 277,680,101 are common and 277,680,072 are preferred, which were granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 1pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: normal" face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements. </FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Statements of Cash Flows </FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Operating activities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,743,559</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,905,456</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,603,583</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustments to reconcile income before income tax to net cash flow from operating activities:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,860,835</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,350,278</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,721,152</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Changes in the technical provisions for insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,805,771</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,781,918</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,286,039</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net (gains)/losses from disposals of assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,299,397)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(764,707)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>247,288</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Expenses with provisions and contingent liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,471,288</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,518,761</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,510,916</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred acquisition cost (insurance)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>680,136</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>194,994</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(95,110)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment of assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,925,304</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,388,580</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>650,588</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,237,328</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,140,369</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,057,722</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amortization of intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,331,240</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,516,777</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,884,281</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: arial" color=black>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,718,411)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,699,725)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,528,051)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Losses on disposal of non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>577,212</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>442,251</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>180,602</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net losses from disposal of property and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>106,722</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,791</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,630</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Gains) on sale of investments in associates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(270,977)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect of Changes in Exchange Rates in Cash and Cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(806,312)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,617,747</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,911,155)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Changes in assets and liabilities:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Increase)/Decrease in reserve requirement - Central Bank</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,677,695)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,651,121</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,866,979)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Increase)/decrease in loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,493,535)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,368,220</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,045,985</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Increase)/decrease in loans and advances to customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(59,578,512)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(49,649,090)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(95,025,702)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Increase)/decrease in financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(23,089,236)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,248,319)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(80,159,223)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Increase)/decrease in other assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(23,384,107)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,296,942)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(32,926,622)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,955,797</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,269,744</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,729,421</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,853,866</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,707,994)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,463,924)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in financial liabilities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>839,321</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,700,099)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,030,156</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in technical provisions for insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,556,181)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,042,897)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,904,319)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in other provisions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,272,970)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,019,960)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,011,000)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) in other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,117,355</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,312,756</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,295,296</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,743,368</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,917,068</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,725,684</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(27,254,361)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(45,140,018)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(38,823,738)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,575,438)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,771,075)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,419,802)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other changes in taxes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(720,182)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(400,787)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(283,883)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net cash provided by/(used in) operating activities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>35,551,788</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>53,959,218</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(61,354,165)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisitions)/disposal of subsidiaries, net of cash and cash equivalents paid/received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,188,659)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisitions) of financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(114,186,612)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(108,296,179)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(61,153,632)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Proceeds from sale of financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>82,760,146</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>115,724,092</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,147,316</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Maturity of investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,219,351</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>269,063</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisitions) of investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(204,557)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Disposal of non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>796,869</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>629,768</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>742,732</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisitions) of investments in associates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(83,172)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(376,434)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(971,672)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Dividends and interest on capital received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>845,134</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>510,285</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>668,178</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisition) of property and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,897,645)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,779,321)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,181,549)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sale of premises and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>445,347</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>486,303</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>205,094</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Acquisition) of intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,743,704)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,343,497)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,971,881)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Dividends received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,341</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,972</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>251,623</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,735,539</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,668,011</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,033,426</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net cash provided by/(used in) investing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,229,963)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,152,341</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,961,302)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,237,380</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,253,373</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>68,385,187</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments on securities issued</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(72,494,509)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(47,861,607)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(49,217,829)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Issuance of subordinated debts</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,594,610</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,787,207</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,304,318</FONT></P></TD></TR></TABLE></DIV>

<DIV align=left>

<P></P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-1<FONT style="FONT-SIZE: 9pt" face=Arial>0</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_217"></A>

<a name="_bclHeader217"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Statements of Cash Flows </FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments on subordinated debts</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,666,038)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(581,713)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,271,261)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisition of treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,466)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(133,033)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Increase/(decrease) of non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,099</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,265</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,446</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,465,562)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,504,528)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,093,967)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest on equity and dividends paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,512,102)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,611,350)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,007,596)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net cash provided by/(used in) financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(43,304,122)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(23,524,819)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,994,265</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Decrease)/Increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(25,982,297)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>39,586,740</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(60,321,202)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>At the beginning of the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>181,230,427</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>147,261,434</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>204,671,481</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect of Changes in Exchange Rates in Cash and Cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>806,312</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,617,747)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,911,155</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>At the end of the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>156,054,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>181,230,427</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>147,261,434</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(Decrease)/Increase in cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,982,297)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>39,586,740</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(60,321,202)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-cash transactions</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Credit operations transferred to non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,953,996</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,122,871</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,591,998</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Dividends and interest on equity declared but not yet paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,295,314</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,482,718</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,622,958</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Unrealized (gains)/losses on securities available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,187,365)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,711,027)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,403,920</FONT></P></TD></TR></TABLE>

<P style="MARGIN: 6pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Notes are an integral part of the Consolidated Financial Statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-11</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_218"></A>

<a name="_bclHeader218"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>1)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>General information</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Banco Bradesco S.A. and subsidiaries (&#8220;Bradesco&#8221;, the &#8220;Bank&#8221;, the &#8220;Company&#8221; or the &#8220;Organization&#8221;) is a publicly-traded company established according to the laws of the Federative Republic of Brazil with headquarters in the city of Osasco, state of S&#227;o Paulo, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Bradesco is a bank that provides multiple services within two segments: banking and insurance. The Bank complies with Brazilian banking regulations and operates throughout all of Brazil. The banking segment includes a range of banking activities, serving individual and corporate customers in the following operations: investment banking, national and international banking operations, asset management operations and consortium administration. The insurance segment covers auto, health, life, accident and property insurance and pension plans as well as capitalization bonds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The retail banking products include demand deposits, savings deposits, time deposits, mutual funds, foreign exchange services and a range of loans and advances , including overdrafts, credit cards and loans with repayments in installments. The services provided to corporate entities include fund management and treasury services, foreign exchange operations, corporate finance and investment banking services, hedge and finance operations including working capital financing, lease and loans with repayments in installments. These services are provided, mainly, in domestic markets, but also include international services on a smaller scale.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization was originally listed on the S&#227;o Paulo Stock Exchange (&#8220;B3&#8221;) and then subsequently on the New York Stock Exchange (&#8220;NYSE&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The consolidated financial statements, in accordance with the IFRS, were approved by the Board of Directors on March 07, 2018.</FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>2)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Significant accounting practices</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 17.45pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These consolidated financial statements of the Organization were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The consolidated financial statements include the consolidated statements of financial position, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows as well as the notes to the consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These consolidated financial statements have been prepared based on historical cost, except for the following material items in the balance sheet: available for sale measured at fair value, assets and liabilities held for trading measured at fair value and financial instruments designated at fair value through profit or loss, and defined-benefit liabilities that are recognized at the present value of the defined benefit obligation less the net total of the plan assets, plus unrecognized actuarial gains less the cost of past services not recognized.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has classified its expenses according to their nature.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The consolidated statement of cash flows shows the changes in cash and cash equivalents during the year arising from operating, investing and financing activities. Cash and cash equivalents include highly liquid investments. Note 19 details the accounts of the consolidated statement of financial position that comprise cash and cash equivalents. The consolidated statement of cash flows is prepared using the indirect method. Accordingly, the income before taxes was adjusted by non-cash items such as provisions, depreciation, amortization and Impairment&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>losses on</FONT>&nbsp;loans and advances. The interest and dividend received and paid are classified as operating, financing or investment cash flows according to the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>nature of the corresponding assets and liabilities.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-12</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The preparation of the consolidated financial statements requires the use of estimates and assumptions which affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the profit and loss amounts for the year. The consolidated financial statements also reflect various estimates and assumptions, including, but not limited to: adjustments to the impairment provision of loans and advances; estimates of the fair value of financial instruments; depreciation and amortization rate<FONT style="FONT-SIZE: 10pt" face=Arial>s</FONT>; impairment losses on assets; the useful life of intangible assets; evaluation of the realization of tax assets; assumptions for the calculation of technical provisions for insurance, supplemental pension plans and capitalization bonds; provisions for contingencies and provisions for potential losses arising from fiscal and tax uncertainties. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The accounting policies listed below were used in all the periods presented and by all the companies of the Organization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT style="FONT-SIZE: 7pt; FONT-STYLE: normal" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face=arial,sans-serif>Recent Acquisitions </FONT></B></H3>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In August, 2015, Bradesco signed the Purchase and Sale of Shares Agreement with HSBC Latin America Holdings Limited for the acquisition of 100% of the equity of HSBC Bank Brasil S.A. (&#8220;HSBC Bank&#8221;) and HSBC Servi&#231;os e Participa&#231;&#245;es Ltda. (&#8220;HSBC Servi&#231;os&#8221;). In June 2016, the final approval of regulatory agencies was given in compliance with legal formalities. With the conclusion of the acquisition, on July 1, 2016, Bradesco assumed all operations of HSBC in Brazil, including retail, insurance and asset management, as well as all the branches and clients, reinforcing its presence and competitiveness throughout the national territory.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In July 2016, there was a total division of the equity of HSBC Servi&#231;os, where portions of this &nbsp;equity&nbsp; were transferred to HSBC Bank and to Credival Participa&#231;&#245;es, Administra&#231;&#227;o e Assessoria Ltda. (Credival), that is a wholly owned subsidiary of&nbsp; HSBC Bank.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In October 2016, approval was granted in an Extraordinary General Meeting for the partial spin-off of HSBC Brasil, through the absorption of portions of its equity by companies of the Organization, enabling progress with the integration of operational and technological platforms, resulting in the replacement of the HSBC brand in its service network, becoming Bradesco. Thus, Bradesco began to operate with a unified platform (branches, ATMs, and systems), to which all clients have access to. Bradesco adds, from now on the products and services already offered to HSBC Brasil clients, a nationwide service network, a state-of-the-art technology platform, and an even more extensive portfolio of products and services.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-13</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) at the date of acquisition:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 14.15pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" width="50%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 4.8pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt 14.2pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Accounting</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Adjustments </FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: #000000 1px solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt 14.2pt" align=center><B><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair Value (1)</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,476,708</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,476,708</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Desposits with the central banks</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,895,767</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,895,767</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances </FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>69,364,585</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,650,016)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>67,714,569</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,881,824</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,881,824</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,745,717</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,745,717</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,450</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,411</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,861</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Property and equipment, net of accumulated depreciation </FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,175,554</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>622,246</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,797,800</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>558,015</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,993,743</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,551,758</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,808,692</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>848,699</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,657,391</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,808,801)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,808,801)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(56,766,587)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(56,766,587)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,790,048)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,790,048)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from securities issued</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,187,105)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(64,701)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,251,806)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,401,348)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,401,348)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Provisions </FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,429,291)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,429,291)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(42,242,831)</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(42,242,831)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sub-total</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,294,301</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,066,683</FONT></B></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Goodwill</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,221,787</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,221,787</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 5.65pt 0pt 6.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Total amount of s</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>hareholders&#8217; equity acquired</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,294,301</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,288,470</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The fair value of the consideration transferred was composed as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 14.15pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" width="83%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="83%">

   <P style="MARGIN: 0in 0in 0pt 6.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Payment to HSBC Latin America Holding Limited, net of adjustment after closure <SUP>(1)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,665,367</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="83%">

   <P style="MARGIN: 0in 0in 0pt 6.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Adjustment to the cost acquisition related to the fair value of the firm commitment<SUP> (2)</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif> </FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,623,103</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="83%">

   <P style="MARGIN: 0in 0in 0pt 6.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=#000000 face=arial,sans-serif>Fair value of the consideration transferred</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0.85pt; PADDING-RIGHT: 0.85pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 14.2pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,288,470</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 5pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1)&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>Includes</FONT> the IOF collection, and withholding Income Tax; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)&nbsp;Includes the results from changes to the fair value </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> h</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In December 2016, Bradesco, based on a study report on purchase price allocation ("PPA"), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>14</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_21"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black size=3 face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 14.15pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" width="84%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="84%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholders&#8217; equity acquired</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,294,301</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="84%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair value of assets acquired and liabilities assumed</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(221,361)</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="84%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible assets acquired</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,993,743</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="84%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Goodwill in the acquisition of the "HSBC Bank" and "HSBC Servi&#231;os" investments</FONT></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,221,787</FONT></P></TD></TR>

<TR style="HEIGHT: 14.15pt">

   <TD style="HEIGHT: 14.15pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="84%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value of the consideration transferred</FONT></B></P></TD>

   <TD style="HEIGHT: 14.15pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.4pt; PADDING-RIGHT: 3.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,288,470</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These acquisitions were recorded on the business combination method and the companies were consolidated from the date that the majority control was acquired.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The goodwill on acquisition, in the amount of R$ 4,221,787 thousand, recorded by Bradesco, is not amortized and is subject to annual impairment test. Goodwill is attributed to the expected future profitability of the respective businesses acquired and to the strengthening of Bradesco's strategy to strengthen its presence throughout the national territory, giving a greater degree of competition in a highly competitive market, so as to take advantage of the synergies generated by the products and base of HSBC Brasil customers, which are complementary. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt">&nbsp;</P><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Consolidation</FONT></B>

<P></P>

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 17.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The consolidated financial statements include the financial statements of Bradesco and those of its direct and indirect subsidiaries, including exclusive mutual funds and special purpose entities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 17.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main subsidiaries included in the consolidated financial statements are as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Activity</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Country</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Shareholding interest</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>December </FONT>31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Alvorada S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.99%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.99%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco Financiamentos S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Boavista Interatl&#226;ntico S.A. (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco Argentina S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Argentina</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.99%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.99%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco Europa S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Luxembourg</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco BERJ S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradescard S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cards</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco BBI S.A. (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investment bank</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.81%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Bradesco Cart&#245;es S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cards</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Administradora de Cons&#243;rcios Ltda. </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Consortium Management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradseg Participa&#231;&#245;es S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Holding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Auto/RE Cia. de Seguros</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Capitaliza&#231;&#227;o S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Capitalization bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Odontoprev S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Dental care</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Leasing S.A. Arrendamento Mercantil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Leasing</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Sa&#250;de S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance / Health</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Seguros S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Vida e Previd&#234;ncia S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Pension plan/Insurer</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesplan Participa&#231;&#245;es Ltda.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Holding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>BRAM &#8211; Bradesco Asset Management S.A. DTVM</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Asset Management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tempo Servi&#231;os Ltda.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Services</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Uni&#227;o Participa&#231;&#245;es Ltda.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Holding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banco Losango S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Administradora de Cons&#243;rcios Ltda (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Consortium management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Bank Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brokerage</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.97%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.97%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Capitaliza&#231;&#227;o S.A. (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Capitalization bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>99.97%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Seguros S.A. (4) (5)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>98.54%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>98.08%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Vida e Previd&#234;ncia S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Pension plan/Insurer</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Kirton Participa&#231;&#245;es e Investimentos Ltda (5)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Holding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazil</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.00%</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-15</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 4pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In November, 2017, Banco Boavista Interatl&#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In May 2017, Kirton Administradora de Cons&#243;rcios Ltda. was merged into Bradesco Administradora de Cons&#243;rcios Ltda.; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Increase in interest, by means of acquisition of shares held by minority shareholders; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Increase in interest by means of subscription of shares in July 2017; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(5)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Company merged into Kirton Seguros S.A., in July 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Subsidiaries</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Subsidiaries are all of the companies over which the Organization, has control. The Organization has control over an investee if it is exposed to, or has rights to, variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The subsidiaries are fully consolidated from the date at which the Organization obtains control over its activities until the date this control ceases.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For acquisitions meeting the definition of a business combination, the acquisition method of accounting is used. The cost of an acquisition is measured as the fair value of the consideration, including assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the consideration given over the fair value of the Organization&#8217;s share of the identifiable net assets and non-controlling interest acquired is recorded as goodwill. Any goodwill arising from business combinations is tested for impairment at least once a year and whenever events or changes in circumstances may indicate the need for an impairment write-down. If the cost of acquisition is less than the fair value of the Organization&#8217;s share of the net assets acquired, the difference is recognized directly in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For acquisitions not meeting the definition of a business combination, the Organization allocates the cost between the individual identifiable assets and liabilities. The cost of acquired assets and liabilities is determined by (a) recognizing financial assets and liabilities at their fair value at the acquisition date; and (b) allocating the remaining balance of the cost of purchasing assets and assuming liabilities to individual assets and liabilities, other than </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>financial instruments, based on their relative fair values</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>of these instruments at the acquisition date.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-16</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Associates</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Companies are classified as associates if the Organization has significant influence, but not control, over the operating and financial management policy decisions. Normally significant influence is presumed when the Organization holds in excess of 20%, but no more than 50%, of the voting rights. Even if less than 20% of the voting rights are held, the Organization could still have significant influence through its participation in the management of the investee or representations on its Board of Directors, providing it has executive power; i.e. voting power.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Investments in associates are recorded in the Organization's consolidated financial statements using the equity method and are initially recognized at cost. The investments in associates include goodwill (net of any impairment losses) identified at the time of acquisition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Joint ventures </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has contractual agreements in which two or more parties undertake activities subject to joint control. Joint control is the contractual sharing of control over an activity and it exists only if strategic, financial and operating decisions are made on a unanimous basis by the parties. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in joint ventures are recorded in the consolidated financial statements of the Organization using the equity method.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iv.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Structured entities </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>A structured entity is an entity that has been designed such that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Structured entities normally have some or all of the following features or characteristics:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 85.05pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>restricted activities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 85.05pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a narrow and well-defined objective, such as, to effect a specific structure like a tax efficient lease, to perform research and development activities, or to provide a source of capital or funding to an entity or to provide investment opportunities for investors by passing risks and rewards associated with the assets of the structured entity to investors;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 85.05pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>thin capitalisation, that is, the proportion of &#8216;real&#8217; equity is too small to support the structured entity&#8217;s overall activities without subordinated financial support; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 85.05pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>financing in the form of multiple contractually linked instruments to investors that create concentrations of credit risk or other risks (tranches).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 85.05pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-17</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>v.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Transactions with and interests of non-controlling shareholders </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization applies a policy of treating transactions with non-controlling interests as transactions with equity owners of the Bank. For purchases of equity from non-controlling interests, the difference between any consideration paid and the share of the carrying value of net assets of the subsidiary acquired is recorded in equity. Gains or losses on sales to non-controlling shareholders are also recorded in equity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Profits or losses attributable to non-controlling interests are presented in the consolidated statements of income under this title. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>vi.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Balances and transactions eliminated in the consolidation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Intra-group transactions and balances (except for foreign currency transaction gains and losses) are eliminated in the consolidation process, including any unrealized profits or losses resulting from operations between the companies except when unrealized losses indicate an impairment loss of the asset transferred which should be recognized in the consolidated financial&nbsp; statements. Consistent accounting policies as well as similar valuation methods for similar transactions, events and circumstances are used throughout the Organization for the purposes of consolidation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign currency translation </FONT></B></H3>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Functional and presentation currency</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Items included in the financial statements of each of the Organization&#8217;s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in Brazilian Reais (R$), which is the Organization&#8217;s presentation currency. The domestic and foreign subsidiaries use the Real as their functional currency, with the exception of the subsidiary in Mexico, which uses the Mexican Peso as its functional currency.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Transactions and balances </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Foreign currency transactions, which are denominated or settled in a foreign currency, are translated into the functional currency using the exchange rates prevailing on the dates of the transactions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Monetary items denominated in foreign currency are translated at the closing exchange rate as at the reporting date. Non-monetary items measured at historical cost denominated in a foreign currency are translated at the exchange rate on the date of initial recognition; non-monetary items in a foreign currency that are measured at fair value are translated using the exchange rates on the date when the fair value was determined. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at each period exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income as &#8220;Net gains/(losses) of foreign currency transactions&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the case of changes in the fair value of monetary assets denominated in foreign currency classified as available for sale, a distinction is made between translation differences resulting from changes in amortized cost of the security and other changes in the carrying amount of the security. Translation differences related to changes in the amortized cost are recognized in </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the consolidated statement of income, and other changes in the carrying amount, except impairment, are recognized in equity.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-18</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign operations </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The results and financial position of all foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 72.8pt; TEXT-INDENT: -9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the reporting date; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 72.8pt; TEXT-INDENT: -9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income and expenses for each consolidated statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rate prevailing on the transaction dates, in which case income and expenses are translated at the rates in effect on the dates of the transactions); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All resulting exchange differences are recognized in other comprehensive income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Exchange differences arising from the above process are reported in equity as &#8220;Foreign currency translation adjustment&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to &#8216;Other comprehensive income&#8217;. If the operation is a non-wholly owned subsidiary, then the relevant proportion of the transaction difference is allocated to the non-controlling interest. When a foreign operation is partially sold or disposed, such exchange differences, which were recognized in equity, are recognized in the consolidated statement of income as part of the gain or loss on sale. </FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash and cash equivalents</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash and cash equivalents include: cash, bank deposits, unrestricted balances held with the Central Bank of Brazil and other highly liquid short&#8211;term investments, with original maturities of three months or less and &nbsp;which are subject to insignificant risk of changes in fair value, used by the Organization to manage its short-term commitments. See Note 19(b) &#8211; &#8220;Cash and cash equivalents&#8221;.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>e)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Sale and repurchase agreements</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Securities sold subject to repurchase agreements are presented in the consolidated financial statements in &#8220;Financial assets pledged as collateral&#8221;. The counterparty liability is included in &#8220;Deposits from Banks&#8221;. Securities purchased under agreements to resell are recorded in &#8220;Loans and advances to banks&#8221; or &#8220;Loans and advances to customers&#8221;, as appropriate. The difference between sale and repurchase price is treated as interest in the consolidated statement of income and recognized over the life of the agreements using the effective interest rate method. </FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>f)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets and liabilities</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization classifies financial assets in the following four categories: measured at fair value through profit or loss; available for sale; held to maturity and loans and receivables. The </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>classification depends on the purpose for which the financial assets were acquired. Management determines the classification of financial assets upon initial recognition.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-19</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 78pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Measured at fair value through profit or loss</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets are initially recorded at fair value with subsequent changes to the fair value&nbsp; recognized immediately in profit or loss. These assets can be subdivided into two distinct classifications at the time of initial recognition: financial assets designated</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> </FONT></I></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>at fair value through profit or loss and financial assets held for trading.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="times new (w1)">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets designated at fair value through profit or loss </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization does not have any financial assets designated at fair value through profit or loss. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="times new (w1)">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets held for trading (non-derivatives)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>A financial asset is classified as held for trading if it is acquired by Management for the purpose of selling it in the short term or if it is part of a portfolio of identified financial instruments that are managed together for short-term profit or position taking. Derivative financial instruments are also categorized as held for trading.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -7.1pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets held for trading are initially recognized in the consolidated statement of financial position at fair value and the transaction costs are recorded directly in the consolidated statement of income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Realized and unrealized gains and losses arising from changes in fair value of non derivative assets are recognized directly in the consolidated statement of income under &#8220;Net gains and losses from financial instruments held for trading.&#8221; Interest income on financial assets held for trading are included in &#8220;Net interest income&#8221;. For the treatment of derivative assets see Note 2(f)(iii).</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets available for sale</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets available-for-sale are non-derivative financial assets that are intended to be held for an undefined period of time, which may be sold in response to needs for liquidity or changes in interest rates, exchange rates, equity prices or that are not classified as loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets available-for-sale are initially recognized at fair value, which is the cash consideration including any transaction costs and, subsequently, are measured at fair value with gains and losses being recognized in the consolidated statement of other comprehensive income, except for impairment losses and foreign exchange gains and losses on debt securities, until the financial asset is derecognized. If a financial asset available-for-sale is determined to be impaired, the cumulative gain or loss previously recognized in other comprehensive income is recognized in the consolidated statement of income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest is recognized in the consolidated statement of income using the effective interest method. Dividends on available-for-sale equity instruments are recognized in the consolidated statement of income in &#8216;Dividend income&#8217; when the Organization&#8217;s right to receive payment is established. Exchange gains and losses on investments in debt securities classified as available for sale are recognized in the consolidated statement of income. See Note 2(f)(viii) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>for more details of the treatment of impairment losses.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-20</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Investments held to maturity</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Investments held to maturity are non-derivative financial assets with fixed or determinable payments and fixed term maturities, which the Organization has the positive intention and ability to hold to maturity, and are not designated as at fair value through profit or loss or available for sale and do not meet the definition of loans and receivables.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Investments held to maturity are recognized initially at fair value including direct and incremental costs, and are subsequently recorded at amortized cost, using the effective interest rate method. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest on investments held-to-maturity is included in the consolidated statement of income and reported as &#8216;Interest and similar income&#8217;. In the case of impairment, the impairment loss is reported as a deduction from the carrying value of the investment and is recognized in the consolidated statement of income. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and receivables are non-derivative financial assets having fixed or determinable payments that are not quoted in an active market, that have not been designated as &#8220;available for sale&#8221; or &#8220;at fair value through profit or loss&#8221; and that the Organization has no intention of selling, either immediately or in the near term.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and receivables are initially measured at their fair value plus direct transaction costs and are subsequently valued at amortized cost using the effective interest rate method.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and receivables are reported in the consolidated statement of financial position as loans and advances to banks or customers. Interest on loans is included in the consolidated statement of income and is reported as &#8220;Interest and similar income&#8221;. In the case of impairment, the impairment loss is reported as a deduction in carrying amount of loans and advances, and is recognized in the consolidated statement of income as &#8220;Impairment of loans and advances&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization classifies its financial liabilities under the following categories: measured at fair value through profit and loss and amortized cost.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Measured at fair value through profit and loss</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These financial liabilities are recorded and measured at fair value and the respective changes in fair value are immediately recognized in the income statement. These liabilities can be subdivided into two different classifications upon initial recognition: financial liabilities designated at fair value through profit and loss and financial liabilities held for trading.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="times new (w1)">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities designated at fair value through profit and loss</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization does not have any financial liability classified at fair value through profit and loss in income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="times new (w1)">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities held for trading</FONT></B></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-21</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities held for trading recognized by the Organization are derivative financial instruments. For the treatment of derivatives see Note 2(f)(iii). </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 78pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities at amortized cost</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These are financial liabilities that are not classified as at fair value through profit or loss. Initially they are recognized at fair value and, subsequently, are measured at amortized cost. They include deposits from banks and customers, securities issued and subordinated debt securities, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derivative financial instruments and hedge transactions</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derivatives are initially recognized at fair value on the date the derivative contract is signed and are, subsequently, re-measured at their fair values with the changes recognized in the income statement under &#8220;Net gains and losses from financial instruments for trading.&#8221; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair values are obtained from quoted market prices in active markets (for example, for exchange-traded options), including recent market transactions, and valuation techniques (for example for swaps and foreign currency transactions), such as discounted cash-flow models and options-pricing models, as appropriate. The calculation of fair value, the counterparty's and the entity's own credit risk are considered.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Certain derivatives embedded in other financial instruments are treated as separate derivatives when their economic characteristics and risks are not closely related to those of the host contract and the host contract is not recorded at fair value through profit or loss. These embedded derivatives are separately accounted for at fair value, with changes in fair value recognized in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iv.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Recognition</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Initially, the Organization recognizes loans and advances, deposits, securities issued and subordinated debts and other financial assets and liabilities on the trade date, in accordance with the contractual provisions of the instrument.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>v.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derecognition</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets are derecognized when the contractual rights to receive the cash flows from these assets have ceased to exist or the assets have been transferred and substantially all the risks and rewards of ownership of the assets are also transferred. Financial liabilities are derecognized when they have been discharged, paid, redeemed, cancelled or expired. If a renegotiation or modification of terms of an existing financial asset is such that the cash flows of the modified asset are substantially different from those of the original unmodified asset, then the original financial asset is derecognised and the modified financial asset is recognised as a new financial asset and initially measured at fair value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>vi.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Offsetting financial instruments </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position when, the Organization has the intention and the legal enforceable right to offset the recognized amounts on a net basis or realize the asset and settle the liability simultaneously.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-2<FONT style="FONT-SIZE: 9pt" face=Arial>2</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>vii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Determination of fair value</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The determination of the fair values for the majority of financial assets and liabilities is based on the market price or quotes of security dealers for financial instruments traded in an active market. The fair value for other instruments is determined using valuation techniques. The valuation techniques which include use of recent market transactions, discounted cash flow method, comparison with other instruments similar to those for which there are observable market prices and valuation models.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For more common other instruments the Organization uses widely accepted valuation models that consider observable market data in order to determine the fair value of financial instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For more complex instruments, the Organization uses own models that are usually developed from standard valuation models. Some of the information included in the models may not be observable in the market and is derived from market prices or rates or may be estimated on the basis of assumptions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The value produced by a model or by a valuation technique is adjusted to reflect various factors, since the valuation techniques do not necessarily reflect all of the factors that market participants take into account during a transaction.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The valuations are adjusted to consider the risks of the models, differences between the buy and sell price, credit and liquidity risks, as well as other factors. Management believes that such valuation adjustments are necessary and appropriate for the correct evaluation of the fair value of the financial instruments recorded in the consolidated statement of financial position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>viii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment of financial assets </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.75pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets recognized at amortized cost </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>On each reporting date, the Organization assesses whether there is objective evidence that financial assets are impaired. The impairment losses are recognized only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a &#8216;loss event&#8217;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The criteria that the Organization uses to determine that there is objective evidence of an impairment include: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>significant financial difficulty of the issuer or obligor; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a breach of contract, such as a default or delinquency in interest or principal payments;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the granting to the borrower of a concession that the lender would not otherwise consider for economic or legal reasons relating to the borrower&#8217;s financial difficulty; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>when it becomes probable that the borrower will enter bankruptcy or other financial reorganization; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the disappearance of an active market for that financial asset because of financial difficulties; or </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 99.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>observable data indicating that there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>assets, although the loss event cannot yet be identified at the level of the individual financial assets in the portfolio, including:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-23</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 127.6pt; TEXT-INDENT: -21.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>adverse changes in the payment status of group assessed borrowers; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 127.6pt; TEXT-INDENT: -21.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>national or local economic conditions that correlate with defaults in the assets. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization takes into consideration evidence of impairment loss for both individually significant assets and groups of assets. All significant financial assets are evaluated to detect specific losses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All significant assets for which the assessment indicates that there is no specific impairment are assessed as a group to detect any impairment loss that may have occurred, although not yet identified. The financial assets which are not individually significant are assessed as a group to detect any collective impairment loss (recorded at the amortized cost) based on similar risk features. Assets that are individually assessed for impairment and for which an impairment loss is recognized are not included in a collective assessment of impairment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The amount of loss is measured as the difference between the asset&#8217;s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset&#8217;s original effective interest rate. The carrying amount of the asset is reduced through provisions and the amount of the loss is recognized in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The calculation of the present value of the estimated future cash flows of a collateralized financial asset reflects the cash flows that may result from foreclosure less costs for obtaining and selling the collateral.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For the purposes of a collective evaluation of impairment, financial assets are grouped on the basis of similar credit-risk characteristics (that is, on the basis of the Organization&#8217;s rating process that considers product type, market segment, geographical location, collateral type, past-due status and other related factors). Those characteristics are relevant to the estimation of future cash flows for groups of such assets by being indicative of the debtors&#8217; ability to pay all amounts due according to the contractual terms of the assets being evaluated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Future cash flows in a group of financial assets that are collectively evaluated for impairment are estimated on the basis of the contractual cash flows of the assets in the group and historical loss experience for assets with credit-risk characteristics similar to those in the group. Historical loss experience is adjusted on the basis of current observable data to reflect the effects of current conditions that did not affect the period on which the historical loss experience is based and to remove the effects of conditions in the historical period that do not currently exist.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The methodology and assumptions used for estimating future cash flows are reviewed regularly to mitigate any differences between loss estimates and actual loss experience.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Following impairment losses, interest income is recognized using the effective rate of interest which was used to discount the future cash flows for the purpose of measuring the impairment loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>When a loan is uncollectible, it is written off against the related allowance for loan impairment. Such loans are written off after all the relevant collection procedures have been completed and the amount of the loss has been determined. Subsequent recoveries of amounts </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>24</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>previously written off are credited to the consolidated statement of income.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.75pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets classified as available for sale </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization assesses, at each reporting date, whether there is objective evidence that a financial asset or group of financial assets is impaired. For debt securities the Organization adopts the assessment described in item (a) above, in order to identify an impairment event.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the case of equity investments classified as available for sale, a significant or prolonged decline in the fair value of the security below its cost is considered objective evidence of impairment resulting in the recognition of an impairment loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>If any such evidence exists for available-for- sale financial assets, the cumulative loss &#8211; measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss &#8211; is removed from equity and recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>If, in a subsequent period, the fair value increases, for debt instrument classified as available for sale, and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss is reversed through the consolidated statement of income. Impairment losses recognized in the consolidated statement of income on equity instruments are not reversed through the consolidated statement of income. Increases in the fair value of equity instruments after impairment are recognized in other comprehensive income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>g)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Non-current assets held for sale </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Under certain circumstances, property is repossessed following foreclosure of loans that are in default. Repossessed properties are measured at the lower of their carrying amount and fair value less the costs to sell and are included within &#8220;Non-current assets held for sale.&#8221; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>h)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Property and equipment</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Recognition and valuation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses (see Note 2(k) below), if any.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The cost includes expenses directly attributable to the acquisition of an asset.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The cost of assets internally produced includes the cost of materials and direct labor, as well as any other costs that can be directly allocated and that are necessary for them to function. Software acquired for the operation of the related equipment is recorded as part of the equipment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>When different parts of an item have different useful lives, and separate control is practical, they are recorded as separate items (main components) comprising the property and equipment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Gains and losses from the sale of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>property and equipment</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> are determined by comparing </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-25</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>proceeds received with the carrying amount of the asset and are recorded in the consolidated income statement under the heading &#8220;Other operating income/(expenses).&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Subsequent costs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization for more than one year and the cost can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance costs are charged to the consolidated statement of income during the reporting period in which they are incurred.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Depreciation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Depreciation is recognized in the consolidated statement of income using the straight-line basis and taking into consideration the estimated useful economic life of the assets. The depreciable amount is the gross-carrying amount, less the estimated residual value at the end of the useful economic life. Land is not depreciated. Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Intangible assets </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Intangible assets comprise separately identifiable non-monetary items, without physical substance due to business combinations, such as goodwill and other purchase intangible assets, computer software and other such intangible assets. Intangible assets are recognized at cost. The cost of an intangible asset, acquired in a business combination, is its fair value at the date of acquisition. Intangible assets with a definite useful life are amortized over their estimated useful economic life. Intangible assets with an indefinite useful life are not amortized. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Generally, the identified intangible assets of the Organization have a definite useful life. At each reporting date, intangible assets are reviewed for indications of impairment or changes in estimated future economic benefits &#8211; see Note 2(k) below.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Goodwill</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Goodwill (or bargain purchase gain) arises on the acquisition of subsidiaries, associates and joint ventures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Goodwill reflects the excess of the cost of acquisition in relation to the Organization&#8217;s share of the fair value of net identifiable assets or liabilities of an acquired subsidiary, associate or joint venture on the date of acquisition. Goodwill originated from the acquisition of subsidiaries is recognized as &#8220;Intangible Assets&#8221;, and the goodwill from acquisition of associates and joint ventures is included in the carrying amount of the investment, (see Note 2(b)(ii)). When the difference between the cost of acquisition and the Organization&#8217;s share of the fair value of net identifiable assets or liabilities is negative (bargain purchase gain), it is immediately recognized in the consolidated statement of income as a gain on the acquisition date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Goodwill is tested annually, as well as whenever a trigger event has been observed, for impairment (see Note 2(k) below). Gains and losses realized in the sale of an entity include consideration of the carrying amount of goodwill relating to the entity sold. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>26</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Software</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Software acquired by the Organization is recorded at cost, less accumulated amortization and accumulated impairment losses, if any. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Internal software-development expenses are recognized as assets when the Organization can demonstrate its intention and ability to complete the development, and use the software in order to generate future economic benefits. The capitalized costs of internally developed software include all costs directly attributable to development and are amortized over their useful lives. Internally developed software is recorded at its capitalized cost less amortization and impairment losses (see Note 2(k) below).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Subsequent software expenses are capitalized only when they increase the future economic benefits incorporated in the specific asset to which it relates. All other expenses are recorded as expenses as incurred.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Amortization is recognized in the consolidated statement of income using the straight-line method over the estimated useful life of the software, beginning on the date that it becomes available for use. The estimated useful life of software is from two to five years. Useful lives and residual values are reviewed at each reporting date and adjusted, if necessary.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other intangible assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 42.55pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other intangible assets refer basically to the customer portfolio and acquisition of banking service rights. They are recorded at cost less amortization and impairment losses, if any, and are amortized for the period in which the asset is expected to contribute, directly or indirectly, to the future cash flows. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These intangible assets are reviewed annually, or whenever events or changes in circumstances occur which could indicate that the carrying amount of the assets cannot be recovered. If necessary, the write-off or impairment (see Note 2(k) below) is immediately recognized in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>j)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Leasing</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has both operating and finance leases and operates as a lessee and a lessor.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Leases in which a significant part of the risks and benefits of the asset is borne by the lessor are classified as operating leases. For leases in which a significant part of the risks and benefits of the asset is borne by the lessee, the leases are classified as financial lease.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Leases under the terms of which the Organization assumes substantially all the risks and rewards of ownership are classified as finance leases. Upon initial recognition, the leased asset is measured at an amount equal to the lower of its fair value and the present value of the minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that asset.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>As a lessee, the Organization classifies its leasing operations mainly as operating leases, and the monthly payments are recognized in the financial statements using the straight-line method over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term of the lease.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-27</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>When an operating lease is terminated before the contract expires, any payment that may be made to the lessor in the form of a penalty is recognized as an expense for the period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent lease payments are accounted for by revising the minimum lease payments over&nbsp; the remaining term of the lease when the lease adjustment is confirmed.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>As a lessor, the Organization has substantial finance lease contracts, both in value and total number of contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 64.35pt; TEXT-INDENT: -21.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Finance Leases</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Finance lease assets in the consolidated statement of financial position are initially recognized in the &#8220;loans and advances&#8221; account at an amount equal to the net investment in the lease.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The initial direct costs generally incurred by the Organization are included in the initial measurement of the lease receivable and recognized as part of the effective interest rate of the contract, decreasing the amount of income recognized over the lease term. These initial costs include amounts for commissions, legal fees and internal costs. The costs incurred in relation to the negotiation, structuring and sales of leases are excluded from the definition of initial direct costs and therefore are recognized as expenses at the beginning of the lease term.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Recognition of financial revenue reflects a constant rate of return on the net investment made by the Organization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The estimated non-guaranteed residual values used in the calculation of the gross investment of the lessor in the lease are reviewed at least annually. If there is a decrease in the estimated non-guaranteed residual value, the income allocated over the period of the lease is also reviewed periodically and any decrease in relation to the accumulated values is immediately recognized in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 1pt 0in 1pt 64.35pt; TEXT-INDENT: -21.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Operating leases</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The assets</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>leased under operating leases, where the Organization acts as lessor, are recognized in the consolidated statement of financial position as property and equipment according to the nature of the item leased.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The initial direct costs incurred by the Organization are added to the carrying amount of the leased asset and are recognized as expenses over the period of the lease and on the same basis as the income recognition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Revenue from lease is recognized using the straight-line method over the term of the lease, even if the payments are not made on the same basis. Costs, including depreciation and maintenance, incurred in the generation of income are recognized as expenses.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>28</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The depreciation policy for leased assets is the same as the depreciation policy used by the Organization for similar assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 39.3pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>k)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment losses on non-financial assets (except for deferred tax assets)</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Assets that have an indefinite useful life such as goodwill are not subject to amortization and are tested, at least, annually at the same date to verify the existence of impairment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Assets, which are subject to amortization or depreciation, are reviewed to verify impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized based on the excess the carrying amount of the &nbsp;asset or the cash generating unit (CGU) over its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its fair value, less costs to sell, and its value in use.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For the purpose of impairment testing, the assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to a ceiling of the operating segments, for the purpose of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGU&#8217;s that are expected to benefit from the synergies of the combination. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The recoverable amount is the higher of an asset/CGU&#8217;s fair value less costs to sell and its value in use. When assessing the value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects the current market conditions of the time value of money and the specific risks of the asset or CGU.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization&#8217;s corporate assets do not generate separate cash inflows and are utilized by more than one CGU. Corporate assets are allocated to CGU&#8217;s on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment losses are recognized in the consolidated Statement of Income. Impairment losses recognized in respect of CGU&#8217;s are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGU&#8217;s) and then to reduce the carrying amount of the other assets in the CGU (group of CGU&#8217;s) on a pro rata basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>An impairment of goodwill cannot be reversed. With regard to other assets, an impairment loss recognized in previous periods is reassessed at each reporting date for any indications that the impairment has decreased or no longer exists. An impairment loss will be reversed if there has been a change in the estimates used to determine the recoverable amount or to the extent that the carrying amount of the asset does not exceed the carrying amount that would have been determined, net of depreciation and amortization, if no impairment had been recognized.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>l)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deposits, debt securities issued and subordinated liabilities</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deposits, debt securities issued and subordinated liabilities are the main sources of funding used by the Organization to finance its operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>They are initially recorded at fair value plus transaction costs and are subsequently measured at amortized cost using the effective interest method.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-29</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>m)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Provisions, contingent liabilities and contingent assets</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>A provision is recognized when, as a result of a past event, the Organization has a present legal or constructive obligation that can be reliably estimated and it is probable that an outflow of resources will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Provisions were established by Management whenever it considers that there is a probable loss taking into account the opinion of their legal advisors; the nature of the actions; the similarity to previous suits; the complexity and the positioning of the Courts. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent Liabilities are not recognized, since their existence will only be confirmed by the occurrence or not of one or more future and uncertain events that are not totally under the control of the Management. Contingent liabilities do not meet the criteria for recognition, since they are considered as possible losses and should only be disclosed in explanatory notes, when relevant. Obligations classified as remote are neither provisioned nor disclosed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent assets are recorded only when there are real guarantees or favorable and non-appealable court decisions, and when the gain is considered to be virtually certain. Contingent assets for which the expectation is the outcome will be favorable are only disclosed in the financial statements, when material. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>n)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Classification of insurance contracts and investments</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>An insurance contract is a contract in which the Organization accepts a significant insurance risk from the policy holder by agreeing to compensate the policyholder if a specific, uncertain, future event adversely affects the policy holder. Reinsurance contracts are also treated as insurance contracts because they transfer significant insurance risk. Contracts in the Insurance segment classified as investment contracts are related to our capitalization bonds, which do not transfer significant insurance risk and are accounted for as financial instruments in accordance with IAS 39 &#8211; Financial Instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>o)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance and pension plan technical provisions</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Property damage</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts less initial contracting costs. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The portion of these reserves corresponding to the estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &#8216;PPNG-RVNE&#8217;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Provision for&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Incurred But Not Reported </FONT>(IBNR) is constituted based on the claims incurred and not yet paid (IBNP), subtracting the balance of the Provision for Claims to be settled (PSL) at the base date of calculation. To calculate the IBNP, the final estimate of claims that have not yet been paid based on semiannual run-off triangles, which consider the historical development of the claims paid in the last 10 semesters for the branches of damages and the last 11 quarters for the extended guarantee business, in order to establish a future projection by period of occurrence of occurrence and also considers the estimate of claims </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-3<FONT style="FONT-SIZE: 9pt" face=Arial>0</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Incurred But Not Enough Reported&nbsp;</FONT>(IBNER), reflecting the expectation of alteration of the provisioned amount throughout the regulation process. Until the base date of December 2016, only IBNR was constituted, without IBNER segregation. This change in methodology was made in January 2017 in the automobile portfolio in order to allow better allocation of capital among the loss provisions, and had no impact on the results of the Organization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The reserve for unsettled claims (PSL) is determined based on the indemnity payment estimates, considering all administrative and judicial claims existing at the reporting date, restated monetarily, net of salvage and payments expected to be received.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The reserve for related expenses (PDR) is recorded on a monthly basis to cover expenses related to estimated claims and benefits. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>It covers both costs that can be individually allocated to each claim as well as claims costs not discriminated, meaning those incurred at the portfolio level.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Complementary Reserve for Coverage (PCC) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>shall be established when there is insufficiency of the technical provisions required under the legislation, as determined in the Liability Adequacy Test (see Note 2(o)(vi) below). At the reporting date management did not identify the need for PCC on property damage contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other technical provisions (OPT) correspond to the Provision for Administrative Expenses (PDA) arising on the Mandatory Insurance For Personal Injury Caused by Motor Vehicles (DPVAT) insurance operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 116%" color=black face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>Life insurance, excluding life insurance with survival coverage (VGBL product)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, but including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts and includes an</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &#8216;PPNG-RVNE&#8217;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Mathematical Provision for Benefits to be Granted (PMBaC) is calculated by the difference between the present value of the future benefits and the present value of the future contributions to be received for these benefits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Provision for Redemptions and other Amounts to be Settled (PVR) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The reserve for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters, to establish a future projection per period of occurrence. A residual cause study is carried out to forecast the claims reported after 10 semesters of the date of occurrence.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The change in the calculation methodology of IBNP, which considered 16 semesters of claims development, to reflect a higher level of precison in the estimate within the current portfolio of the Organization . The change generated a reduction of approximately R$ 180 million in the provision of IBNR, net of reinsurance. </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation and includes all claims in litigation</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Complementary Reserve for Coverage (PCC) refers to the amount necessary to </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>complement technical reserves, as calculated through the Liability Adequacy Test. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>LAT is calculated</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> using statistical and actuarial methods based on realistic considerations, taking into account the biometric table BR-EMS of both genders, adjusted by longevity development criteria compatible with the latest published versions and improvement using a risk free forward interest rate structures which was approved by SUSEP to discount the future cash flows. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-31</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Technical Surplus Provision (PET) corresponds to the difference between the value of the expected cost and the actual cost of claims that occurred during the period for contracts of individual life insurance with rights to participate in technical surplus.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For products structured under a capitalization regime, the reserve covers the expected expenses related to incurred claims and also claims expected to be incurred in the future.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>iii.</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 116%" color=black face="times new roman"> </FONT><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>Health and Dental Insurance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The reserve for claims incurred but not reported (IBNR) is calculated from the final estimate of claims already incurred and still not reported, based on monthly run-off triangles that consider the historical development of claims reported in the last 12 months for health insurance and 18 months for dental insurance, to establish a future projection per period of occurrence</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The provision for unsettled claims (PSL) is based on claims received up to the reporting date, including judicial claims and related costs adjusted for inflation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The mathematical reserve for unvested benefits (PMBAC) relates to the individual health care plan portfolio and accounts for the risk related to the cover of the holder&#8217;s dependents for five years following the death of the holder. It is calculated using: a 4.5% annual</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>discount rate </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(5.1% in 2016)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>; the period over which holders are expected to remain in the plan up to their death; and the projected costs of the five-year-period cover in which no premiums will be received.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The mathematical reserve of benefits granted (PMBC) is constituted by the obligations arising from the contractual clauses of remission of installments in cash, regarding the coverage of health assistance and by the premiums through payment of insured persons participating in the Bradesco Sa&#250;de insurance - "GBS Plan", and considering a discount rate of 4.5% per annum </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(5.1% in 2016)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The unearned premium or contribution reserve (PPCNG) is calculated on the currently effective contracts on a daily pro-rata basis based on the portion of health insurance premiums corresponding to the remaining period of coverage.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The other provisions for the individual health portfolio are constituted to cover differences between the expected present value of claims and related future costs and the expected present value of future premiums, considering a discount rate of 4.5% per year </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(5.1% in 2016)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=black face=arial,sans-serif>iv.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Operations with DPVAT Insurance</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Revenues from DPVAT premiums and the related technical reserves are recorded gross, based on reports received from Seguradora Lider S.A. which acts as the &#8220;lead insurer&#8221; of the Consortium of Insurance DPVAT S.A. in proportion to the percentage of Bradesco&#8217;s stake in the </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-3<FONT style="FONT-SIZE: 9pt" face=Arial>2</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>consortium. It is the function of the lead insurer to collect the premiums, coordinate policy issuance, settle claims and manage the administrative costs within the consortium, in accordance with the CNSP Normative Resolution n&#186; 332/15. As defined in the regulations of the consortium, 50% of the monthly net income is distributed to the consortium&#8217;s members in the following month. The remaining 50% of the monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>v.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 116%" color=black face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>Open pension plans and life insurance with survival coverage (VGBL product)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The unearned premium reserve (PPNG) is calculated on a daily pro-rata basis, using net premiums and is comprised of the portion corresponding to the remaining period of coverage and includes an estimate for risks covered but not yet issued (RVNE).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The mathematical reserve for unvested benefits (PMBaC) is constituted to the participants who have not yet received any benefit. In defined benefit pension plans, the reserve represents the difference between the present value of future benefits and the present value of future contributions, corresponding to obligations assumed in the form of retirement, disability, pension and annuity plans. The reserve is calculated using methodologies and assumptions set forth in the actuarial technical notes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The mathematical reserve for unvested benefits (PMBaC) related to life insurance with survival coverage and unrestricted benefit pension plans (VGBL and PGBL), and defined contribution plans, includes the contributions, received from participants, net of costs and other contractual charges, plus the financial return generated through the investment of these amounts in units of specially constituted investment funds (FIE).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Provision for Redemptions and other Amounts to be Settled (PVR) comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The mathematical reserve for vested benefits (PMBC) is recognized for participants already receiving benefits and corresponds to the present value of future obligations related to the payment of those on-going benefits</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Complementary Reserve for Coverage (PCC) refers to the amount necessary to complement technical reserves, as calculated through the Liability Adequacy Test (see Note 2(n)(vi)).</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> LAT is prepared using statistical and actuarial methods based on realistic assumptions, taking into account the biometric table BR-EMS of both genders,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>adjusted by longevity development criteria compatible with the latest versions disclosed improvement and forward interest rate curves (ETTJ) free from risk as authorized by SUSEP. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For plans structured under a capitalization regime, the reserve is made to cover the expected expenses related to incurred claims and also claims expected to be incurred in the future. The projections are performed through the passive adequacy test (LAT).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Financial Surplus Provision (PEF) corresponds to the financial result, which exceeds the guaranteed minimum profitability of contracts with a financial surplus participation clause.</FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Provision for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters (16 semesters in 2016) to establish a future projection by period of occurrence. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -21.25pt"><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>vi.</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 116%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=PT-BR style="FONT-SIZE: 10pt; LINE-HEIGHT: 116%" color=black face=arial,sans-serif>Liability Adequacy Test (LAT)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: middle" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization conducted the liability adequacy test for all the contracts that meet the definition of an insurance contract according to IFRS 4 and which are in force on the date of execution of the test. This test is conducted every six months and the liability of insurance contracts, gross of reinsurance, is calculated as the sum of the carrying amount, deducting the deferred acquisition costs and the related intangibles. This is compared to the expected cash flows arising from the obligations under commercialized contracts and certificates.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The test considerers projections of claims and benefits that have occurred and are to occur, administrative expenses, allocable expenses related to the claims, intrinsic options and financial surpluses, salvage and recoveries</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>and other income and expense directly related to the insurance contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>To calculate the present value of projected cash flows, the Organization </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>used the risk free forward (ETTJ) rate which was approved by SUSEP.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>According to SUSEP Circular n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> 517/2015</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>and subsequent changes, the test was segmented between life insurance and pension products and property coverage, and liabilities related to DPVAT insurance were not included in the adequacy test. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P><FONT lang=PT-BR style="FONT-SIZE: 12pt" color=windowtext face=Arial,sans-serif>&#8226;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Life and pension products</FONT></B>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For private pension products and Life Insurance with Coverage for Survival, </FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=#222222 face=arial,sans-serif>the contracts are grouped based on similar risks or when the insurance risk is managed jointly by the Administration.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The cash flows related to future premiums not recorded in the PPNG were only included in the projections when the result of the LAT without these values was negative.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The projected average loss ratio was 42% for individual and collective individuals, obtained from analysis based on triangles for the development of Company claims generated with information from January 2007.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The calculation of LAT made for the base date December 2017, considered the update of the assumption of Rate of Conversion into Income (TCR) of PGBL and VGBL pension plans.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 2cm"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The result of the liability adequacy test for life insurance was fully recognized in the income statement, as set out in SUSEP Circular No. 517/15 (note 35a). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.9pt 0in 70.9pt; TEXT-INDENT: -14.2pt"><FONT lang=PT-BR style="FONT-SIZE: 12pt" color=windowtext face=Arial,sans-serif>&#8226;</FONT><FONT lang=PT-BR style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial,sans-serif>Property Coverage</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The expected present value of cash flows relating to claims incurred - primarily claims costs and salvage recoveries - was compared to the technical provisions for claims incurred - PSL and IBNR.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>3</FONT>4</FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The expected present value of cash flows relating to claims to be incurred on the policies in force, plus any administrative expenses and other expenses relating to products in run-off, was compared to the sum of the related technical provisions - PPNG and PPNG-RVNE.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The projected average loss ratio was 15.19% for the Extended Guarantee segment and 50.21% for the elementary lines, which were strongly influenced by the estimate of the future premium of the housing insurance portfolio, which is characterized by low loss ratio and long terms , since it accompanies the period of financing of the property.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The average reinsurance projected in the study, calculated on the basis of reported claims was 2.05%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The result of the liability adequacy test, for property coverage, did not present insufficiency and, consequently, no additional PCC provisions were recorded.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>p)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reinsurance contracts</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 0.25in"><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reinsurance contracts are used in the normal course of operations with the purpose of limiting potential losses, by spreading risks. Liabilities relating to contracts that have been reinsured are presented gross of their respective recoveries, which are booked as assets since the existence of the reinsurance contract does not nullify the Organization&#8217;s obligations with the insured parties.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>As required by the regulators, reinsurance companies with headquarters abroad must have a minimum rating from a risk classification agency to reinsure risks all other reinsurance operations must be with national missing If there are indications that the amounts recorded will not be realized by its carrying amount, these assets will be adjusted for impairment. </FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>q)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred acquisition costs</FONT></B></H3>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I></B>&nbsp;</H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These comprise deferred acquisition costs including commissions and brokers&#8217; fees related to the sale of insurance policies. Deferred commissions are recognized in the consolidated statement of income over the life of the respective policies and pension plan contracts or over an average period of twelve months. Expenses relating to insurance agency operations relating to the sale of health plans are amortized over a twenty-four month period and life assurance expenses are appropriated in the twelve-month period.</FONT></FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>r)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial guarantees</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantees are contracts that require the Organization to make specific payments under the guarantee for a loss incurred when a specific debtor fails to make a payment when due in accordance with the terms of the debt instrument.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; Financial guarantees are initially recognized in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Organization&#8217;s obligations under such guarantees are measured as the higher of the initial amount, less the accumulated amortization, and the best estimate of the amount required to settle the guarantee if management deems such expenditure to be probable. These estimates are determined based on experience of similar transactions and history of past losses, supplemented by the judgment of Management. The fee income earned is recognized on a straight-line basis over the life of the guarantee. Any increase in the liability relating to guarantees is reported in the consolidated statement of income within &#8220;Other operating income/ (expenses)&#8221;.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-35</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>s)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Employee benefits</FONT></B></H3>

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<P style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt">&nbsp;</P>

<P style="MARGIN: 0cm 0cm 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IAS 19 establishes that the employer must recognize prospectively the surplus or deficit of its defined benefit plans and post-retirement plans as an asset or an obligation in its consolidated statement of financial position, and must recognize the changes in the financial condition during the year in which the changes occurred, in profit or loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Defined contribution plan</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Bradesco and its subsidiaries sponsor pension plans for their employees and Management of the &#8220;Free Benefit Generator Plan (PGBL)&#8221; type. The PGBL is a pension plan with defined contributions which allows financial resources to be accumulated throughout the professional career of the participants based on contributions paid by them and the sponsoring company, the funds of which are invested in an Exclusive Mutual Fund (FIE). The actuarial obligations of PGBL are fully covered by the corresponding FIE. The PGBL is managed by the subsidiaries Bradesco Vida e Previd&#234;ncia S.A.. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contribution obligations for defined contribution pension plans are recognized as expenses in profit or loss as incurred. Once the contributions are paid, Bradesco, in the capacity of employer, has no obligation to make any additional payment. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>In addition to the PGBL previously presented, the participants transferred from the defined benefit plan are assured a deferred proportional benefit until the date of migration. For participants in the defined benefit plan, whether or not transferred to the PGBL, retired participants and pensioners, the present value of the actuarial liabilities of the plan is fully covered by guarantee assets applied in the FIEs.</FONT></FONT></FONT></FONT> </P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Defined benefit plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The Organization&#8217;s net obligation, in relation to the defined benefit plans, refers exclusively to institutions acquired are calculated separately for each plan, estimating the future benefit that the employees have earned in return for their service during the current and prior periods. The benefit is discounted to determine its present value and deducted by the fair value of any plan assets. The discount rate is the yield at the reporting date on &#8220;AA&#8221; credit rated bonds, which have maturity dates approximating the terms of the Organization&#8217;s obligations. The calculation is made by an actuary, using the projected unit credit method.<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&nbsp;</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Termination benefits</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Severance benefits are required to be paid when the employment relationship is terminated by the Organization before the employee&#8217;s normal date of retirement or whenever the employee accepts voluntary redundancy in return for such benefits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Benefits which are payable twelve months or more after the reporting date are discounted to their present value.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>36</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>iv.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Short-term benefits</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Benefits such as wages, salaries, social security contributions, paid annual leave and paid sick leave, profit sharing and bonuses (if payable within twelve months of the reporting date) and non-monetary benefits such as health care, etc. are recorded as expenses in the consolidated statement of income, without any discount to present value, if the Organization has a present legal or constructive obligation to pay the amount as a result of past service provided&nbsp; by the employee and the obligation can be reliably estimated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>t)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capitalization bonds</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The liability for capitalization bonds is registered in the line &#8216;Other liabilities&#8217;. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities and revenues from capitalization bonds are accrued at the time bonds are issued. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Bonds are issued according to the types of payments, monthly or single payment. Each bond bears a nominal value and the deposit portion of each payment is remunerated at the referential rate (TR) plus 0.5% per month, which is used to determine the liability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capitalization bond beneficiaries are eligible for a prize draw. At the end of a certain period that is determined at the time the capitalization bond is issued, a beneficiary may redeem the nominal value paid plus the referential rate (TR) +0.5% of interest, even&nbsp; if they have not won in the draw.&nbsp; These products are regulated by the insurance regulator in Brazil; however, they do not meet the definition of an insurance contract in accordance with IFRS 4 and, therefore, are classified as financial liabilities in accordance with IAS 39.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Unclaimed amounts from &#8220;capitalization plans&#8221; are derecognized when the obligation legally expires, in accordance with IAS 39 as it relates to the derecognition of a financial liability.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Expenses for placement of &#8220;capitalization plans&#8221;, are recognized as they are incurred.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>u)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest income and expenses are recognized on an accrual basis in the consolidated statement of income using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash payments and receipts throughout the expected life of the financial asset or liability (or, when appropriate, a shorter period) to the carrying amount of the financial asset or liability. When calculating the effective rate, the Organization estimates future cash flows considering all contractual terms of the financial instrument, but not future credit losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The calculation of the effective interest rate includes all commissions, transaction costs, discounts or bonuses which are an integral part of such rate. Transaction costs are incremental costs directly attributable to the acquisition, issuance or disposal of a financial asset or liability.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>v)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fees and commissions</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fees and commission income and expense which are part of and are directly allocable to the effective interest rate on a financial asset or liability are included in the calculation of the effective interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other fee and commission income, including account service fees, asset management fees, credit card annual charges, and collection and consortium fees are recognized as the related services are rendered. When a loan commitment is not expected to result in the drawdown of a loan, the related </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>commitment fees are recognized on a straight-line basis over the commitment period. Other fees and commissions expense relate mainly to transaction as the services are received.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-37</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>w)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Net insurance income</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance and coinsurance premiums, net of premiums transferred through coinsurance and reinsurance and related commissions, are recognized as income upon issuance of the respective policies / certificates / endorsements and invoices, or at the beginning of the risk period for cases in which the cover begins before issue date, and accounted for on a straight-line basis, over the duration of the policies, through the upfront recognition and subsequent reversal of the provision for unearned premiums and the deferred acquisition costs.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income from premiums and the acquisition costs related to risks already assumed whose respective policies have not yet been issued are recognized in the consolidated statement of income at the start of the risk coverage period on an estimated basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The health insurance premiums are recorded in the premium account (result) or unearned premium or contribution reserve (PPCNG), according to the coverage period of the contracts in effect at the balance sheet date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Revenues and expenses related to DPVAT insurance operations are recorded on the basis of information received from the Seguradora L&#237;der dos Cons&#243;rcios do Seguro DPVAT S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Accepted co-insurance contracts and retrocession operations are recorded on the basis of information received from the lead co-insurer and IRB - Brasil Resseguros S.A., respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Reinsurance operations are recorded based on the provision of accounts, which are subject to review by reinsurers. The deferral of reinsurance premiums granted under proportional contracts is carried out in a manner consistent with the related insurance premium, while the deferral of premiums for non-proportional reinsurance contracts is carried out according to the period of validity of the respective reinsurance contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The receipts from insurance agency operations are deferred and recognized in income linearly, for a period of twenty-four months in health insurance operations and by the term of twelve months in the other operations.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contributions to pension plans and life insurance premiums with survivor coverage are recognized in income upon their effective receipt.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>x)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income tax and social contribution</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income tax and social contribution deferred tax assets, calculated on income tax losses, social contribution losses and temporary differences, are recorded in &#8220;Other Receivables - Sundry&#8221; and the deferred tax liabilities on tax differences in lease depreciation (applicable only for income tax),<BR>mark-to-market adjustments on securities, restatement of judicial deposits, among others, are recorded in &#8220;Other Liabilities - Tax and Social Security&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred tax assets on temporary differences are realized when the difference between the accounting treatment and the income tax treatment reverses. Deferred tax assets on income tax and social contribution losses are realizable when taxable income is generated, up to the 30% limit of the taxable profit for the period. Deferred tax assets are recorded based on current expectations of realization considering technical studies and analyses carried out by Management.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>38</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The provision for income tax is calculated at 15% of taxable income plus a 10% surcharge. For financial companies, financial company equivalent and of the insurance industry, the social contribution on the profit was calculated until August 2015, considering the rate of 15%. For the period between September 2015 and December 2018, the rate was changed to 20%, according to Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>13,169/15, returning to the rate of 15% as from January 2019. For the other companies, the social contribution is calculated considering the rate of 9%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>By virtue of the amendment of the rate, the Organization Bradesco constituted, in September 2015, a supplement to the deferred tax asset of social contribution, considering the annual expectations of realization and the respective rates in force in each period, according to the technical study conducted.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Tax expense comprises current and deferred tax. Current and deferred tax are recorded in the consolidated statement of income except when the result of a transaction is recognized directly in equity, in which case the related tax effect is also recorded in equity or in other comprehensive income. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Current tax assets are amounts of taxes to be recovered through restitution or offset with taxes due from excess of taxes paid in relation to the current and / or previous period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Current tax expenses are the expected amounts payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Current tax payable also includes any tax liability arising from the declaration of dividends. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amount used for taxation purposes. Deferred tax is not recognized for:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=arial,sans-serif>temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=arial,sans-serif>temporary differences related to investments in subsidiaries, associates and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future; and</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 70.9pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>taxable temporary differences arising on the initial recognition of goodwill. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In determining the amount of current and deferred tax the Organization takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Organization believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of various factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve judgments about future events. New information may become available that causes the Organization to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the tax expense in the period that such a determination is made.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities against current tax assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. </FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Additional taxes that arise from the distribution of dividends by the Bank are recognized at the same time as the liability to pay the related dividend is recognized. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>y)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;Segment reporting</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Information for operating segments is consistent with the internal reports provided to the Executive Officers (being the Chief Operating Decision Makers), which are comprised by the Chief Executive Officer, Executive Vice-Presidents, Managing Directors and Deputy Directors. The Organization operates mainly in the banking and insurance segments. The banking operations include operations in retail, middle market and corporate activities, lease, international bank operations, investment banking and private banking. The Organization&#8217;s banking activities are performed through its own branches located throughout the country, in branches abroad and through subsidiaries, as well as by means of our shareholding interest in other companies. The insurance segment consists of insurance operations, supplementary pension plans and capitalization plans which are undertaken through a subsidiary, Bradesco Seguros S.A., and its subsidiaries.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>z)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Equity</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Preferred shares have no voting rights, but have priority over common shares in reimbursement of capital, in the event of liquidation, up to the amount of the capital represented by such preferred shares, and the right to receive a minimum dividend per share that is ten percent (10%) higher than the dividend distributed per share to the holders of common shares.</FONT></P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.9pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I></B>&nbsp;</H3>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Share issue costs</FONT></H3>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.9pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></I></B>&nbsp;</H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Incremental costs directly attributable to the issuance of shares are shown net of taxes in equity, thus reducing the initial share value.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Earnings per share</FONT></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization presents basic and diluted earnings per share data. Basic earnings per share is calculated by dividing the net income attributable to shareholders of the Organization by the weighted average number of shares outstanding during the year, excluding the average number of shares purchased by the Organization and held as treasury shares. Diluted earnings per share are the same as basic earnings per share, as there are no potentially dilutive instruments.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-FAMILY: arial; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext>(iii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Dividends payable</FONT></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 28.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Dividends on shares are paid and provisioned during the year. In the Meeting of Shareholders are destined at </FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light">least the equivalent of 30% of the annual net income, in accordance with the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the Company&#8217;s Bylaws</FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light">. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Dividends approved and declared after the reporting date of the financial statements, are disclosed in the notes as subsequent events.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=symbol><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: arial">(iv)</FONT></FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital transactions</FONT></H3>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-40</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital transactions are transactions between partners qualified as investment owners. These transactions modify the equity held by the controlling shareholder in a subsidiary. Since there is no loss of control, the difference between the amount paid and the fair value of the transaction is recognized directly in equity.</FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>3)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Risk Management</FONT></B></H1>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk-management structure</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The risk and capital management structure is made up of committees, which assist the Board of Directors, the CEO and the Board of Executive Officers in their strategic decision-making process. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization has a committee known as the Integrated Risk and Capital Allocation Management Committee (COGIRAC), whose duty is to advise the Board of Directors in performing its duties in risk management, &nbsp;capital and control. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>This committee is assisted by the Capital Management Executive Committee, and Risk Management Executive Committees in managing a) Credit risk, b) Market and Liquidity risk, c) Operational and Social and Environmental risk and d) Bradesco&#8217;s Insurance Group and BSP Empreendimentos Imobili&#225;rios. In addition, it also has the support of the Products and Services Executive Committee and the Executive Committees in business areas, which, among other duties, suggest exposure thresholds to their respective risks and prepare mitigation plans to be submitted to the Integrated Risk and Capital Allocation Management Committee and the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>To comply with Resolution 4.557<FONT style="FONT-SIZE: 10pt" face=Arial>/17</FONT> of the National Monetary Council (CMN), the Risk Committee was implemented in order to also assist the Board of Directors in the performance of its assignments related to risk and capital management, and the position of Chief Risk Officer (CRO) was formalized, which, among other responsibilities, exercises the supervision of the development, implementation and performance of the risk management structure, including its improvement, on independent basis and reporting to the Risk Committee, CEO and Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN-LEFT: 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Integrated Risk Control Department (DCIR), whose mission is to promote and to implementing risk control and capital allocation through robust practices and certification of existence, execution and effectiveness of controls which assure acceptable risk levels in the Organization&#8217;s processes, independently, consistently, on a transparent and integrated manner. This Department is also responsible for complying with the Brazilian Central Bank rules for risk management activities.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk appetite</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The risk appetite refers to the types and levels of risks that the Organization is willing to accept in the conduct of its business and purposes. The Risk Appetite Statement &#8211; RAS is an important instrument that summarizes the risk culture of the Organization, and guides the strategic and business plans, driving the budget planning and allowing Senior Management to optimize the allocation of capital at acceptable risk levels and types.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>At the same time, RAS emphasizes the existence of an efficient process of assignments in the operational risk management and in the performance of control functions, as well as for mitigation and disciplinary actions and processes of scheduling and reporting to Senior Management upon breach of the risk limits or control processes established. </FONT></P>

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<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-41</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Risk Appetite Statement is reviewed on annual basis, or whenever necessary, by the Board of Directors and permanently monitored by forums of the Senior Management and business and control areas.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>RAS reinforces the dissemination of the risk culture by disclosing the main aspects of risk appetite of the Organization to all its members.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For the many types of risks, whether measurable or not, the Organization established control approaches, observing the main global dimensions :</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Solvency : to maintain a proper capital level, even on prospective basis, to cover unexpected losses, situations of stress and business opportunities, in compliance with regulatory requirements, thus ensuring the soundness of the Organization;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Profitability: to remunerate its capital on sustainable basis, seeking to cover the remuneration expectation of its shareholders in relation to the risks assumed in their business;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Liquidity: to maintain diversified and low cost sources of funding through interconnected network and dynamic and proper segmentation to provide a cash structure compatible with the size of its obligations; thus, ensuring survival even in adverse scenarios;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loan: to focus on domestic public, on diversified and dispersed manner, in terms of products and segments, aiming at the security and quality of the portfolio, with guarantees consistent with the risks assumed, considering the amounts, purposes and terms of loans granted and maintaining proper levels of provisions and concentrations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 131.25pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Market: to align the exposures to the strategic guidelines, with specific limits established on independent basis and with risks mapped, measured and classified as to the probability and magnitude; and</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 74.55pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Operational: to mitigate operating risks related to frauds, corruption, intentional violations of legislative or regulatory requirements, as well as to mitigate human or procedural errors in the performance of supporting and business activities.</FONT></P>

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<P style="MARGIN: 0in 0in 0in 21.25pt"><FONT lang=EN style="FONT-SIZE: 10pt" color=#222222 face=arial,sans-serif>More detailed information about the Risk Appetite Statement is available in the Risk Management Report - Pillar 3 published at http://www.bradescori.com.br.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Stress Test Program</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The risk management structure has a stress test program defined as a coordinated set of processes and routines, containing own methodologies, documentation and governance, whose principal purpose is to identify potential vulnerabilities of the institution. Stress tests are exercises of prospective evaluation of the potential impacts of adverse events and circumstances on capital, on liquidity or on the value of a portfolio of the Organization. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Board of Executive Officers and Board of Directors are responsible for the approval of the program, guidelines to be followed and for the approval of the scenarios and results of stress tests.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Stress tests are used as tool for the management of risks, in its identification, measurement, evaluation, monitoring, control and mitigation of risks of the institution. The results of stress tests are used for </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>evaluation of capital and liquidity levels of the institution, for preparation of the respective contingency plans, for evaluation of the capital adequacy, and for the recovery plan. Similarly, the results are considered in the decisions related to strategic guidelines, definition of the levels and limits of risk appetite applied to the management of risks and capital, as well as in the definition of governance actions aimed at mitigation of risks identified as inconsistent with the risk appetite of the Organization.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-42</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.1.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk refers to the possibility of losses associated with the borrower&#8217;s or counterparty&#8217;s failure to comply with their financial obligations under the terms agreed, as well as the fall in value of loan agreements resulting from deterioration in the borrower&#8217;s risk rating, the reduction in gains or remunerations, benefits granted to borrowers in renegotiations, recovery costs and other costs related to the counterparty&#8217;s noncompliance with the financial obligations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk management in the Organization is a continuous and evolving process of mapping, development, assessment and diagnosis through the use of models, instruments and procedures that require a high degree of discipline and control during the analysis of transactions in order to preserve the integrity and autonomy of the processes.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization controls the exposure to credit risk which comprises mainly loans and advances, securities and derivatives. There is also the credit risk in financial obligations relating to commitments on loan or financial guarantees.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>With the objective of not compromising the quality of the portfolio, all aspects inherent to credit concession, concentration, guarantee requirements and terms, among others, are observed.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization continuously maps all the activities that could possibly generate exposure to credit risk, classifying them by their probability and magnitude, identifying their managers and mitigation plans.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Counterparty Credit Risk</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The counterparty credit risk to which the Organization is exposed includes the possibility of losses due to the non-compliance by counterparties with their obligations relating to the settlement of financial asset trades, including the settlement of derivative financial instruments. Counterparty credit risk also includes the risk related to a downgrade in the counterparty&#8217;s credit standing.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization exercises complete control over its net position (the difference between purchase and sale agreements) and potential future exposures from operations where there is counterparty risk. Each counterparty&#8217;s exposure to risk is treated in the same way and is part of general credit limits granted by the Organization&#8217;s &nbsp;to its customers. Usually, guarantees associated with this type of operation include margin deposits, which are made by the counterparty with the Organization or with other trustees, whose counterparty&#8217;s risks are also appropriately evaluated.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit Concession</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Under the responsibility of the Credit Department, lending procedures are based on the Organization's credit policy emphasizing &nbsp;the security, quality and liquidity of the lending. The process is guided by the risk-management governance and complies with the rules of the Central Bank of Brazil.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The methodologies adopted value business agility and profitability, with targeted and appropriate </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-43</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>procedures oriented to the granting of credit transactions and establishment of operating limits.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the evaluation and classification of customers or economic groups, the quantitative (economic and financial indicators) and qualitative (personal data and behaviors) aspects associated with the customers capacity to honor their obligations are considered.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All business proposals are subject to operational limits, which are included in the Loan Guidelines and Procedures. At branches, the delegation of power to grant a loan depends on its size, the total exposure to the Organization, the guarantees offered, the level of restriction and their credit risk score/rating. Business proposals with risks beyond these limits are subject to technical analysis and approval of by the Credit Department. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In its turn, the Executive Credit Committee was created to decide, within its authority, on queries about the granting of limits or loans proposed by business areas, previously analyzed and with opinion from the Credit Department. According to the size of the operations/limits proposed, this Committee, may then submit the proposal for approval by the Board of Directors, depending on the amounts involved.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loan proposals pass through an automated system with parameters set to provide important information for the analysis, granting and subsequent monitoring of loans, minimizing the risks inherent in the operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>There are exclusive Credit and Behavior Scoring systems for the assignment of high volume, low principal loans in the Retail segment, meant to provide speed and reliability, while standardizing the procedures for loan analysis and approval.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 3pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Business is diversified wide-spread and aimed at individuals and companies with a proven payment capacity and solvency, seeking to support them with guarantees that are adequate to the risk assumed, considering the amounts, objectives and the maturities of loan granted. </FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit Risk Rating</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The credit risk assessment methodology, in addition to providing data to establish the minimum parameters for lending and risk management, also enables the definition of Special Credit Rules and Procedures according to customer characteristics and size. Thus, the methodology provides the basis not only for the correct pricing of operations, but also for defining the appropriate guarantees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The methodology used also follows the requirements established by (CMN) Resolution 4,327/14 and includes analysis of social and environmental risk in projects, aimed at evaluating customers&#8217; compliance with related laws and the Equator Principles, a set of rules that establish the minimum social and environmental criteria which must be met for lending.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In accordance with its commitment to the continuous improvement of methodologies, the credit risk rating of the Organization&#8217;s economic groups/customers uses an eighteen-level scale, in which fourteen levels represent performing loan operations, ensuring greater compliance with the requirements of the Basel Capital Accord.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk ratings for economic groups (legal entities) are based on standardized statistical and judgmental procedures, and on quantitative and qualitative information. Classifications are carried out in a corporate manner and periodically monitored in order to preserve the quality of the credit portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For individuals, in general, credit ratings are based on personal data variables, such as income, assets, restrictions and indebtedness, in addition to the history of their relationship with the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Organization, and statistical credit evaluation models.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>44</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risk classification adopted on the basis of the customers' capacity of honoring their commitments is shown below:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Internal Rating</FONT></I></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Organization classification</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>AA1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>AA2</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>AA3</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>A1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Low risk</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>B1</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>B3</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

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   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD></TR>

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   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>C1</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

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   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 7.1pt">

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>C2</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 7.1pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>C3</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 7.1pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>C4</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Medium risk</FONT></P></TD></TR>

<TR style="HEIGHT: 7.1pt">

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>D</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 7.1pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>E</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>&nbsp;</TD></TR>

<TR style="HEIGHT: 7.1pt">

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>F</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>High risk</FONT></P></TD></TR>

<TR style="HEIGHT: 7.1pt">

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>G</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">&nbsp;</TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>H</FONT></P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><A name="_Toc284697563"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit-Risk Management Process</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The credit risk management process is conducted in a corporation-wide manner. This process involves several areas with specific duties, ensuring an efficient structure. Credit risk measurement and control are conducted in a centralized and independent manner.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The credit risk monitoring area actively participates in improving the customer risk rating models, following up large risks by periodically monitoring major delinquencies and the provisioning levels for expected and unexpected losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>This area continuously reviews the internal processes, including the roles and responsibilities and it training and requirements, as well as conducts periodical reviews of risk evaluation processes to incorporate new practices and methodologies.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><A name="_Toc316896283"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Control and Monitoring </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11.5pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The credit risk of the Organization has its control and corporate follow-up done in the credit risk area of the DCIR. The Department advises the Executive Committee on Credit Risk Management, where methodologies for measuring credit risk are discussed and formalized. Significant issues discussed in this committee are reported to the COGIRAC, which is subordinate to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In addition to committee meetings, the area holds monthly meetings with all product and segment executives and officers, with a view to inform them about the evolution of the loan portfolio, deliquency, credit recoveries, gross and net losses, limits and concentrations of portfolios, among others. This information is also reported to the Audit Committee on a monthly basis</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The area also monitors any internal or external event that may cause a significant impact on the Organization&#8217;s credit risk, such as spin-offs, bankruptcies and crop failures, in addition to monitoring economic activity in the sectors to which the company has significant risk exposures. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Both the governance process and existing limits are sanctioned by the Integrated Risk Management and Capital Allocation Committee, which are submitted for the approval of the Board </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>of Directors, being reviewed at least once a year.</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-45</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><A name="_Toc318995497"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Internal Report </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk is monitored on a daily basis in order to maintain the risk levels within the limits established by the Organization. Managerial reports on risk control are provided to all levels of business, from branches to Senior Management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>With the objective of highlighting the risk situations that could result in the customers' inability to honor its obligations as contracted, the credit risk monitoring area provides daily reports, to the branches, business segments, as well as the lending and loan recovery areas. This system provides timely information about the loan portfolios and credit bureau information of customers, in addition to enabling comparison of past and current information, highlighting points requiring a more in-depth analysis by managers. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization also has an electronic corporate system of credit risk indicators to provide the lending and loan recovery areas, business areas, regional managers and branches with information on assets by segment, product, region, risk classification, delinquency and expected and unexpected losses, among others. This electronic system provides both a macro-level and detailed view of the information, and also enables a specific loan operation to be viewed. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The information is viewed and delivered via dashboards, allowing queries at several levels such as business segment, divisions, managers, regions, products, employees and customers, and under several aspects (asset, delinquency, provision, write-off, restriction levels, guarantees, portfolio quality by rating, among others).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-46</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit Risk Exposure </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We present below the credit risk exposure of the financial instruments.</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,742,951</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>72,554,651</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,866,885</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,755,442</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,253,205</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,845,534</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>373,813,665</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,083,873</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>599,199,362</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>497,974,002</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total items recorded in the balance sheet (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,100,876,068</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,074,213,502</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total items not recorded in the balance sheet (Note 41)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>283,089,393</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>316,298,033</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total risk exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,383,965,461</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,390,511,535</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The Organization's maximum credit risk exposure was R$ 1,383,965,461 &nbsp;thousand in 2017, which was an reduction of 0.5% compared to 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Of this exposure, R$ 81,742,951 thousand, or 5.9% is related to cash and bank deposits composed mainly of funds deposited with the Central Bank of Brazil that are assessed to have low credit risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Operations classified as &#8220;Other financial assets&#8221; item totaling R$ 599,199,362 thousand (43.3% of the total exposure), have a low credit risks as it primarily consists of Brazilian government bonds which, are recorded at their market value, represented by &#8220;Financial assets held for trading&#8221; R$ 241,710,041 thousand (2016 &#8211; R$ 213,139,846&nbsp; thousand), &#8220;Financial assets available for sale&#8221; R$ 159,412,722 thousand (2016 &#8211; R$ 113,118,554 thousand) and &#8220;Investments held to maturity&#8221; recognized as amortized cost in the amount of R$ 39,006,118 thousand (2016 &#8211; R$&nbsp;43,002,028 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In 2017, items not recorded in the consolidated statement of financial position (recorded in off-balance sheet accounts) amounted to R$ 283,089,393 thousand (2016 - R$ 316,298,033 thousand), reaching a level of 20.5% (2016 &#8211; 22.6%) of total exposure. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The following provides a detailed analysis of other exposures subject to credit risk totaling R$&nbsp;419,933,755 thousand, representing 30.3% of the total exposure, including derivatives of R$&nbsp;13,866,885 thousand, loans and advances to banks of R$ 32,253,205 thousand and loans and advances to clients of R$ 373,813,665 thousand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derivative Financial Instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Traded in the stock exchange</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>88,120</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,068,418</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>OTC contract</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,778,765</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,687,024</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,866,885</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,755,442</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>In </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>relation to derivatives, 99.4% of the total, refers basically to over-the-counter contracts, stock exchange depositories. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Of the total of the Derivative financial instruments, 93.0% is assessed to have "low credit risk"</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>by the Organization's internal procedures.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-47</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and advances to banks</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We present below the portfolio of loans and advances to banks as rated internally by the Organization:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Low risk</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,253,205</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,845,534</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Medium risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>High risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp;</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,253,205</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,845,534</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 3pt 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Ratings as assigned by the Organization: Low risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Ratings AA1 &#8211; C3; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Medium risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Rating C4 - D; and </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>High risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Ratings E &#8211; H.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>None of the loans and advances to banks are classified as past-due or impaired. In addition, the portfolio has no debt-restructuring history.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and advances to customers</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The loans and advances to customers are classified as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Neither past due nor impaired.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Past due but not impaired.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impaired, including loans and advances classified as impaired and loans and advances that are analyzed individually for loss classified as impaired.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization&#8217;s loans and advances to customers are classified as &#8220;impaired&#8221; when they fall in at least one of the following situations: (a) are delinquent more than 90 days, except for housing loan operations secured by residential property (overdue more than 180 days) and/or; (b) have incurred a loss and/or; (c) have been renegotiated and/or; (d) have been reclassified as a higher risk level; and/or (e) have been subject to bankruptcy events. The internal models used by the Organization are based on client or product.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Neither past due nor impaired (i)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>321,595,918</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>337,337,152</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Past due but not impaired (ii)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,684,314</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,612,906</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impaired (iii)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,533,433</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,133,815</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Total loans and advances to customers</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>373,813,665</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,083,873</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(27,055,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,780,839)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Net amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The portfolio of loans and advances to customers presented a reduction of 4.7% from 2017 to December 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 68.05pt; TEXT-INDENT: -25.5pt">&nbsp;</H3>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-48</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 68.05pt; TEXT-INDENT: -25.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(i)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and advances to customers neither past due nor impaired </FONT></B></H3>

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<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Low risk</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>309,535,667</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>325,170,838</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Medium risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,895,319</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,269,218</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>High risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,164,932</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,897,096</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>321,595,918</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>337,337,152</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Ratings as assigned by the Organization: Low risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Ratings AA1 &#8211; C3; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Medium risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Rating D; and </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>High risk</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>: Ratings E &#8211; H.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The loans and advances to customers assessed to be neither past due nor impaired totaled R$ 321,595,918 thousand in </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>2017</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Of the total transactions, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>96.2</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>% were classified as low risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 68.05pt; TEXT-INDENT: -25.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(ii)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loans and advances to customers past due but not impaired </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We present below the analysis by number of days past due of the contracts for loans and advances which were not classified as being impaired in the collective analysis and those which are not impaired based on the individual analysis. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For the purpose of this analysis, an asset is considered past due and included in the following table when payment is late or is not received strictly in accordance with the contractual terms. The amount included in this category comprises the total financial asset, i.e. not only the overdue installment amount but the full contractual amount plus accrued interest.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The loans and advances to customers which are not individually material, which have not been classified as impaired are presented in this category.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The individually material loans and advances may be presented in this category when, based on the individual analysis, it is not necessary to record an individual impairment loss and, accordingly, the asset is then subject to a collective loss analysis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Past due up to 60 days</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,177,461</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,737,697</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Past due between 61 and 90 days</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,302,186</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,608,305</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Past due for more than 90 days</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>204,667</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>266,904</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,684,314</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,612,906</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The above table shows loans and advances, which despite being past due, do not provide indications of possible impairment. This amount represented 2.9% of the portfolio in 2017 (2016 &#8211; 3.2%).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-49</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 68.05pt; TEXT-INDENT: -25.5pt">&nbsp;</H3>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_256"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 68.05pt; TEXT-INDENT: -25.5pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(iii)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loans and advances to customers impaired</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Portfolio not yet due</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,342,024</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,567,703</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Past due up to 60 days</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,915,081</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,067,322</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#333333 face=arial,sans-serif>Past due between 61 and 90 days</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,279,795</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,284,035</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Past due for more than 90 days</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,996,533</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,214,755</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,533,433</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,133,815</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loans and advances to customers impaired reached R$ 41,533,433 thousand and accounted for 11.1% of the total portfolio in 2017 (2016 - 10.7%). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>By type of loan category</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The following table presents the loans and advances impaired by category:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp; </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Credit card</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,158,265</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,962,131</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,052,758</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,940,498</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Personal credit</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,632,789</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,951,949</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,071,447</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,553,802</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financing and export</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,770,221</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,456,658</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Vehicles &#8211; CDC (Direct consumer credit)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,333,748</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,651,852</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Rural loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>982,699</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>946,282</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Onlending BNDES/Finame</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>780,985</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,052,671</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Overdraft for individuals</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>638,506</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>882,992</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisition of assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>295,944</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>459,574</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Overdraft for corporates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>256,271</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>406,296</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,559,800</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,869,110</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41,533,433</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,133,815</FONT></B></P></TD></TR></TABLE></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</H3>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Renegotiated loans and advances </FONT></B></H3>

<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The total balance of &#8220;Loans and advances to customers impaired&#8221; includes renegotiated loans and advances to customers. Such loans contemplate extension of loan payment terms, grace periods, reductions in interest rates, and/or, in some cases, the forgiveness (write-off) of part of the loan principal amount. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Renegotiations may occur after debts are past due or when the Company has information about a significant deterioration in the client&#8217;s creditworthiness. The purpose of such renegotiations is to adapt the loan to reflect the client&#8217;s actual payment capacity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter256"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-5<FONT style="FONT-SIZE: 9pt" face=Arial>0</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

<DIV></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_57"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The following table shows changes made and our analysis of our portfolio of renegotiated loans and advances to customers:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Opening balance</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,501,423</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,728,723</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additional renegotiated amounts, including interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,185,863</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,777,814</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,108,040)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,997,802)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,395,377)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,007,312)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Closing balance</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,183,869</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,501,423</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,853,777)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,346,397)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total renegotiated loans and advances to customers, net of impairment at the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,330,092</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,155,026</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>63.2%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59.1%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total renegotiated loans and advances as a percentage of the total loan portfolio</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.8%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.9%</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>At the time a loan is modified, Management considers the new loan's conditions and renegotiated maturity and it is no longer considered past due. From the date of modification, renegotiated interest begins to accrue, using the effective interest rate method, taking into consideration the customer&#8217;s capacity to pay the loan based on the analysis made by Management. If the customer fails to maintain the new negotiated terms, management considers ceasing accrual from that point.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Additionally, any balances related to renegotiated loans and advances to customers that have already been written off and recorded in off-balance sheet accounts, as well as any gains from renegotiations, are recognized only when received.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Concentration of credit risk in loans and advances </FONT></B></H3>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</H3>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Largest borrower</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.5%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.3%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10 largest borrowers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8.2%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8.5%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20 largest borrowers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12.2%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12.6%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50 largest borrowers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17.8%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18.5%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100 largest borrowers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22.2%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23.0%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-51</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_258"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>By Economic Activity Sector</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The credit-risk concentration analysis presented below is based on the economic activity sector in which the counterpart operates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31 - R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>%</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Public sector</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,676,927</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.6</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,813,581</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Oil, derivatives and aggregate activities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,410,382</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.5</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,813,581</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.2</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Production and distribution of electricity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,322</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other industries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>265,223</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.1</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Private sector</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>364,136,738</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97.4</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>383,270,292</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Companies</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>190,148,345</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50.9</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>212,344,421</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>54.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Real estate and construction activities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,383,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7.9</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,888,418</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8.6</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Retail</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,935,638</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6.4</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,346,471</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6.5</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Services</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,996,533</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4.8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,172,147</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4.6</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transportation and concession</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,190,284</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3.8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,044,780</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4.3</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Automotive</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,014,454</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.7</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,148,526</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3.4</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Food products</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,866,028</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.4</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,870,635</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.8</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Wholesale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,045,916</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.4</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,704,646</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.7</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Production and distribution of electricity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,360,804</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.0</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,255,265</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.1</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Siderurgy and metallurgy</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,001,290</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.9</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,800,237</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2.0</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sugar and alcohol</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,042,811</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.9</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,514,693</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.9</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other industries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,311,145</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14.8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,598,603</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15.2</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Individuals</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>173,988,393</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46.5</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>170,925,871</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total portfolio</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>373,813,665</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100.0</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,083,873</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(27,055,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,780,839)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total of net loans and advances to customers</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Measurement of Credit Risk </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Periodically, the Organization evaluates the existence of objective evidence of loss in the loans and advances portfolio, taking into account its historical experience of impairment losses and employing other methodologies to consider the customer' quality as well as the nature of the transaction including its guarantees for estimating the expected cash flows, which are reviewed regularly in order to constantly improve the models and to ensure that&nbsp; the provision is sufficient.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Initially, clients are classified as individually significant and individually non-significant. Following that initial classification, clients are evaluated on the basis of the existence of evidence of one or more objective loss events. As sometimes it may not be possible to identify a specific event that has caused a loss in the recoverable amount, the combined effects of several events are evaluated. In addition, loss events may be specific, that is, refer to only a particular client, such as payment defaults, renegotiation or bankruptcy event, or be collective and affect a group of assets as a result, for example, interest or exchange rate variations or a reduction in the activity level of one or more economic sectors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For individually significant clients with specific objective evidences of impairment, the impairment loss is estimated by individual analysis, taking into account the future cash flows expected from each client, including the realization of guarantees associated with operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For individually non-significant clients with specific objective evidence of impairment, the, impairment loss is estimated using proprietary historic loss experience models which are based on observable information on the calculation date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT size=2 face=Arial></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-52</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Clients showing no specific objective evidence of impairment losses, both individually significant and individually non-significant clients, are evaluated collectively using the Organization&#8217;s internal models based on collective parameters of loss identified and macroeconomic parameters of economic activity and default.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For collective evaluation, Probability of Default and Loss Given Default models, as well as the Loss Identification Period factor, are used.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Probability of Default (PD): determines the probability of default perceived by the Organization with respect to the customer, according to its internal evaluation model. This risk parameter is determined differently for each segment: retail models are quantitative, while wholesale models are both quantitative and qualitative (subjective).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loss Given Default (LGD): refers to the percentage effectively lost after recovery efforts given the default of the contract, which is expressed as a percentage of exposure. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Loss Identification Period (LIP): interim period between the occurrence of the loss event in groups of collectively evaluated financial assets, significant and non significant, and its identification by the institution as being impaired. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Write-offs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Credits are written off in the consolidated statement of financial position against impairment of loans and advances when they are considered uncollectible or a permanent loss. Loans and advances to banks &nbsp;are normally written off when they are overdue for 180 to 360 days. Loans and advances to banks with remaining maturities of at least 36 months are normally written off when they are overdue for 360 to 540 days.</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>&nbsp;</FONT></I></B></FONT></FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> </FONT></I></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit Risk Mitigation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Potential credit losses are mitigated by the use of a variety of types of collateral formally stipulated through legal instruments, such as conditional sales, liens and mortgages, by guarantees such as third-party sureties or guarantees, and also by financial instruments such as credit derivatives. The efficiency of these instruments is evaluated considering the time to recover and realize an asset given as collateral, its market value, the guarantors&#8217; counterparty risk and the legal safety of the agreements. The main types of collaterals include: term deposits; financial investments and securities; residential and commercial properties; movable properties such as vehicles, aircraft. Additionally, collateral may include commercial bonds such as invoices, checks and credit card bills. Sureties and guarantees may also include bank guarantees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Credit derivatives are bilateral contracts in which one of the counterparties buys protection against a credit risk of a particular financial instrument and its risk is transferred to the counterparty that sells the protection. Normally, it receives a remuneration over the life of the operation. In the event of default by the borrower, the counterparty who purchased the protection will receive a payment, the purpose of which is to compensate for the loss of value in the financial instrument. In this case, the selling counterparty receives the underlying asset in exchange for said payment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>On December 31, 2017, Bradesco had credit default swaps (CDS) with the following characteristics: the risk received in credit swaps whose underlying assets are &#8220;debt </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>securities issued by companies" in the amount of R$ 468,214 thousand (R$ 114,069 thousand in 2016) and &#8220;bonds of the Brazilian public debt&#8221; in the amount of R$ 116,773 thousand (R$ 668,115 thousand in 2016) and in 2016 the risk transferred in credit swaps whose underlying assets are &#8220;<FONT style="FONT-SIZE: 10pt" face=Arial>securities </FONT>the Brazilian public debt&#8221; was R$ (16,296) thousand, amounting to a total net credit risk value of negative R$&nbsp;584,987 thousand (R$ 765,888 thousand in 2016), with an effect on the calculation of required shareholders&#8217; equity of negative R$ 49,162 thousand (R$ 11,977 thousand in 2016). The contracts related to credit derivatives transactions described above are due in 2022. The mark-to-market of the protection rates that remunerates the counterparty that received the risk totaled R$ 195 thousand (R$ (1,067) thousand in 2016). There were no credit events, as defined in the agreements, during the period.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-53</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Offsetting of financial assets and liabilities </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 72pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In accordance with IFRS 7, Bradesco must present the amounts related to financial instruments subject to master clearing agreements or similar agreements. In accordance with IAS 32, a financial asset and a financial liability are offset and their net value presented in the Consolidated Balance Sheet when, and only when, there is a legally enforceable right to offset the amounts recognized and the Bank intends to settle them in a liquid basis, or to realize the asset and settle the liability simultaneously.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 72pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The table below presents financial assets and liabilities subject to compensation.</FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amount of financial assets, gross</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related amount offset in the Balance Sheet</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net amount</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interbank investments</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,866,885</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,866,885</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amount of financial liabilities, gross</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related amount offset in the Balance Sheet</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net amount</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Securities sold under agreements to repurchase</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>233,467,544</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>233,467,544</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,274,999</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,274,999</FONT></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="52%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amount of financial assets, gross</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related amount not cleared in the Balance Sheet</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net amount</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interbank investments</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,755,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,755,442</FONT></P></TD></TR></TABLE></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>&nbsp;</DIV>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif>F-<FONT style="FONT-SIZE: 9pt" face=Arial>54</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="51%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amount of financial liabilities, gross</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related amount not cleared in the Balance Sheet</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net amount</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="51%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Securities sold under agreements to repurchase</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,978,931</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,978,931</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="51%">

   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,435,678</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,435,678</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>On December 31, 2017 and 2016, Bradesco does not have financial instruments in its balance sheet as a result of failing to meet the IAS 32 compensation criteria, or because it has no intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously.</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -0.3in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.2.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market risk</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market risk is represented by the possibility of financial loss due to fluctuating prices and interest rates of the Organization&#8217;s financial instruments, such as its asset and liability transactions that may have mismatched maturities, currencies and indexes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market risk is identified, measured, mitigated, controlled and reported. The Organization&#8217;s exposure to market risk profile is in line with the guidelines established by the governance process, with limits independently monitored on a timely basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All transactions that expose the Organization to market risk are mapped, measured and classified according to probability and magnitude, and the whole process is approved by the governance structure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risk management process relies on the participation of all levels of the Organization, from the business areas to the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In compliance with the best Corporate Governance practices, to preserve and strengthen the management of market risk in the Organization, as well as to meet the requirements of Resolution </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> 4,557/17, of (CMN), the Board of Directors approved the Market and Liquidity Risk Management Policy, which is reviewed at least annually by the relevant Committees and by the Board of Directors itself, and provides the main guidelines for acceptance, control and management of market risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In addition to the policy, the Organization has specific rules to regulate the market risk management process, as follows:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Classification of Operations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reclassification of Operations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Trading of Public or Private Securities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Use of Derivatives; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Hedging.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market Risk Management Process</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The market risk management process is a corporation wide process, comprising from business areas to the Board of Directors; it involves various areas, each with specific duties in the process, thereby ensuring an efficient structure. The measurement and control of market risk is conducted in a centralized and independent manner. This process permits that the Organization be the first financial institution in the country authorized by the Central Bank of Brazil to use its internal market risk models to calculate regulatory capital requirements since January 2013. This process, is also revised at least once a year by the Committees and approved the Board itself.</FONT></P>

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<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-55</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Determination of Limits</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Proposed market-risk limits are validated by specific Committees and submitted for approval by the Integrated Risk Management and Capital Allocation Committee, and then for approval by the Board of Directors. Based on the business&#8217; characteristics, they are segregated into the following Portfolios:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Trading Portfolio</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>: it comprises all operations involving financial instruments, held-for-trading, including derivatives, or used to hedge other instruments in the Trading Portfolio, which have no trading restrictions. Held-for-trading operations are those intended for resale, to obtain benefits from actual or expected price variations, or for arbitrage.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Trading Portfolio is monitored with the following limits:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Value at Risk (VaR);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Stress;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial Exposure / Concentration.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Banking Portfolio</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>: it comprises operations not classified in the Trading Portfolio</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>, arising from Organization&#8217;s other businesses and their respective hedges.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Banking Portfolio is monitored with the following limits:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest rate risk limit.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market-Risk Measurement Models</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Market risk is measured and controlled using Stress, Value at Risk (VaR), Economic Value Equity (EVE) and Sensitivity Analysis methodologies, as well as limits for the Management of Results and Financial Exposure. Using several methodologies to measure and evaluate risks is of great importance, because they can complement each other and their combination allows for analysis of different scenarios and situations.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Trading and Regulatory Portfolio </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Trading Portfolio risks are controlled by the Stress and VaR methodologies. The Stress methodology quantifies the negative impact of economic shocks and events that are financially unfavorable to the Organization&#8217;s positions. The analysis uses stress scenarios prepared by the Market Risk area and the Organization&#8217;s economists based on historical and prospective data for the risk factors in which the Organization portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The methodology adopted to calculate VaR is the Delta-Normal, with a confidence level of 99% and considering the number of days necessary to unwind the existing exposures. The methodology is applied to the Trading and Regulatory Portfolio (Trading Portfolio positions plus Banking Portfolio foreign currency and commodities exposures). It should be noted that for the measurement of all the risk factors of the portfolio of options are applied the historical simulation models and Delta-Gama-Vega, prevailing the most conservative between the two.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=red face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>A minimum 252-business-day period is adopted to calculate volatilities, correlations and historical returns.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For regulatory purposes, the capital requirements relating to shares held in the Banking Portfolio of Prudential Conglomerate (includes, in its consolidation basis, entities located in the country and </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>abroad, financial institutions, similar to financial institutions over which the institution has direct or indirect control, in addition to investment funds pursuant to Resolution No. 4,280/13 of CMN) are determined on a credit risk basis, as per Central Bank of Brazil resolution,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>ie, are not included in the market risk calculation.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-56</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk of Interest Rate in the Banking Portfolio</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The measurement and control of the interest-rate risk in the Banking Portfolio area is based on the Economic Value of Equity (EVE) methodology, which measures the economic impact on the positions, according to scenarios prepared by the Organization&#8217;s economists. These scenarios determine the positive and negative movements of interest rate curves that may affect Organization&#8217;s investments and capital-raising.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The EVE methodology consists of repricing the portfolio exposed to interest rate risk, taking into account the scenarios of increases or decreases of rates, by calculating the impact on present value and total term of assets and liabilities. The economic value of the portfolio is estimated on the basis of market interest rates on the analysis date and of scenarios projected. The difference between the values obtained for the portfolio will be EVE, that is, the interest-rate risk applicable to the Banking Portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>To measure the Banking Portfolio interest rate risk, the premise of prepayment of loan is not used. For demand and savings deposits with undetermined maturity, their historical behaviors and the possibility of maintaining them are studied. After all the deductions related to demand and savings deposits, for example, the required compulsory deposits held at Brazilian Central Bank, the remaining balance (free funds) is allocated in accordance with the maturity flows of fixed-rate lending operations, and in the case of savings, the risk factor considered for its mapping is the TR coupon.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial Instrument Pricing </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>To adopt the best market prices related to the assessment of financial instruments&#8217; market value, the Market and Liquidity Risk Management Executive Committee (CEGRIMEL) established the Mark-to-Market Commission (CMM), which is responsible for approving or submitting mark-to-market models to GEGRIMEL. CMM is composed of business, back-office and risk representatives. The risk area is responsible for the coordination of the Commission and for the submission the matters to the CEGRIMEL for reporting or approval, whichever is the case. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Whenever possible, the Bank uses prices and quotes from by the Securities, Commodities and Futures Exchange and the Secondary Markets. Failing to find such market references, prices made available by other sources (such as Bloomberg, Reuters and Brokerage Firms) are used. As a last resort, proprietary models are used to price the instruments, which also follow the same CMM approval procedure and are submitted to the Organization&#8217;s validation and assessment processes.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Mark-to-market criteria are periodically reviewed, according to the governance process, and may vary due to changes in market conditions, creation of new classes of instruments, establishment of new sources of data or development of models considered more appropriate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The financial instruments to be included in the Trading Portfolio must be approved by the Treasury Executive Committee or the Product and Service Executive Committee and their pricing criteria must be defined by the CMM.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The following principles for the mark-to-market process are adopted by the Organization:</FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Commitment: the Organization is committed to ensuring that the prices used reflect the market value of the operations. Should information not be found, the Organization uses its best efforts to estimate the market value of the financial instruments; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Frequency: the formalized mark-to-market criteria are applied on a daily basis; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Formality: the CMM is responsible for ensuring the methodological quality and the formalization of the mark-to-market criteria; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Consistency: the process to gather and apply prices should be carried out consistently, to guarantee equal prices for the same instrument within the Organization; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Transparency: the methodology must be accessible by the Internal and External Audit, Independent Model Validation Areas - AVIM and by Regulatory Agencies. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In December 2014, the (CMN) published Resolution 4,389/14, which amended Resolution 4,277/13. These resolutions set forth the basic procedures that entities must follow in pricing financial instruments valued at market value and guidelines for the application of prudential adjustments for such instruments. The organization aligned with these resolutions&#8217; guidelines, including applying due prudential adjustments required by the regulation.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Independent Risk Model Validation </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses models to manage and measure risks and capital, which are developed based on specialist knowledge or on statistical, economic, financial or mathematical theories, which support and facilitate the structuring of critical issues and enable standardization and fast decision-making. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>To identify, mitigate and control the risks independent of the use of the models in the decision-making process, there is the AVIM, whose main purpose is to evaluate if the models work according to the intended objectives, as well as if their results are suitable for the uses for which they are intended. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Independent Validation of Models adopts a methodology that encompasses quantitative and qualitative dimensions, evaluating the adequacy of processes, governance, the construction of models and their premises, the use and monitoring of models:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Qualitative </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Scope of the model: scope or coverage of the model, which includes its goal, the type of risk addressed, companies exposed to this type of risk, portfolios, products, segments, channels, and etc; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Application of the Model:</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>aspects of the use of the model, which includes the definition of model, the reasonability in the use of the model's factors, the flow and the timeliness of the information for the decision-making process; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Technological Environment and Data Consistency: structure of systems and controls involved in the calculations performed by the model and the process in which the model is inserted. It also includes data consistency, taking into consideration the functionalities of version and access controls, backup, traceability, changes in parameters, data quality, system contingency and automated controls. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Quantitative </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Measurement System: challenge to the risk measurement procedures, both base and stress, including the definition, implementation and internal validation of the method, which </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>consists of methodology, assumptions, parameters, calculation routine, input data and results; and</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-58</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Backtesting: statistic procedure used to assess the model by comparing the amounts estimated by the model and the amounts observed within a previously defined period. It includes methodological, formalization and utilization aspects for model improvement. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The responsibility for executing the independent validation process, that includes the analysis and the assessment of models, it&#8217;s from AVIM, which uses structures that are already implemented and settled in the Organization to avoid overlapping tasks. Its results are reported to the managers and to the Committee of Integrated Risk Management and Capital Allocation.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Control and Follow-Up</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market risk is controlled and monitored by an independent area, the DCIR, which, on a daily basis, measures the risk of outstanding positions, consolidates results and prepares reports required by the existing governance process.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In addition to daily reports, Trading Portfolio positions are discussed once a week by the Treasury Executive Committee, while Banking Portfolio positions and liquidity reports are examined every fifteen days by the Asset and Liability Management Treasury Executive Committee. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>At both meetings, results and risks are assessed and strategies are discussed. Both the governance process and the existing thresholds are ratified by the Integrated Risk and Capital Allocation Management Committee and submitted to approval of the Board of Directors, and they are revised at least once a year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Should any threshold controlled by the DCIR be exceeded, the head of the business area responsible for the position is informed that threshold was reached, and the Integrated Risk and Capital Allocation Management Committee is called in timely fashion to make a decision. If the Committee decides to raise the threshold and/or maintain the positions, the Board of Directors is called to approve the new threshold or revise the position strategy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Internal Communication</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The market risk department provides daily managerial control reports on the positions to the business areas and Senior Management, in addition to weekly reports and periodic presentations to the Board of Directors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reporting is conducted through an alert system, which determines the addressees of risk reports as previously determined risk threshold percentage is reached; therefore, the higher the risk threshold consumption, more Senior Management members receive the reports.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Hedging and Use of Derivatives</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In order to standardize the use of financial instruments as hedges of&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>transactions</FONT> and the use of derivatives by the Treasury Department, the Organization created specific rules that were approved by the competent Committees. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The hedge&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>transactions</FONT> executed by Bradesco&#8217;s Treasury Department must necessarily cancel or mitigate risks related to unmatched quantities, terms, currencies or indexes of the positions in the Treasury books, and must use assets and derivatives authorized to be traded in each of their books to:</FONT></P>

<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-59</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>control and classify the <FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>transactions</FONT>, &nbsp;respecting the exposure and risk limits in effect; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 1in"><FONT lang=EN-US style="FONT-SIZE: 2pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>alter, modify or revert positions due to changes in the market and to operational strategies; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 2pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>reduce or mitigate exposures to&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>transactions</FONT> in inactive markets, in conditions of stress or of low liquidity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT size=2 face=Arial></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For derivatives classified in the "hedge accounting" category, there is a monitoring of their effectiveness, as well as their accounting implications.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash flow Hedge </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>On December 31, 2017, Bradesco maintained the following cash flow hedges: (i) with the objective of protecting the cash flow of interest income from securities investments, related to the risk of DI interest rates, using DI Futures contracts at B3, amounting to R$16,030,487 thousand (2016 - R$21,502,218 thousand), to hedge DI securities, amounting to R$14,708,544 thousand (2016 - R$21,476,571 thousand), with the maturity between 2018 and 2019, making the cash flows fixed. The adjustment to the market, registered in the shareholders' equity, of R$40,060 thousand (2016 - R$43,190 thousand), net of tax effects was R$ 24,036 thousand (2016 - R$25,914 thousand); (ii) with the objective of protecting cash flow from interest payments on capitalizations, referring to the risk of DI interest rates by using DI Futuro contracts in B3, totaling R$6,769,979 thousand, with the object of hedge as funds referenced to the DI, amounting to R$6,671,048 thousand in terms of maturities between 2018 and 2020, making the cash flows fixed. The adjustment to market, recorded in shareholders' equity, of R$(84,044) thousand, net of tax effects was R$(50,426) thousand; and (iii)aiming at hedging the exchange variation on future cash flows, whose functional currency is other than Reais, using Forward contracts, in the amount of R$1,110,888 thousand, with the purpose of hedging the investment abroad denominated in MXN (Mexican Peso), in the amount of R$582,567 thousand. The mark-to-market adjustment these operations, recorded in shareholders' equity was R$ (59,739) thousand, net of tax effects was R$(35,843) thousand. The effectiveness of the hedge portfolio was assessed in accordance with Bacen Circular Letter No. 3,082/02.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Standardized and &#8220;Continuous Use&#8221; Derivatives</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Organization&#8217;s Treasury Department may use standardized (traded on an exchange) and &#8220;continuous use&#8221; (traded over-the-counter) derivatives for the purpose of obtaining income or as hedges. The derivatives classified as &#8220;continuous use&#8221; are those habitually traded over-the-counter, such as vanilla swaps (interest rates, currencies, CDS &#8211; Credit Default Swap, among others), forward operations (currencies, for example) and vanilla options (currency, Bovespa Index), among others. Non-standardized derivatives that are not classified as &#8220;continuous use&#8221; or structured operations cannot be traded without the authorization of the applicable Committee.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Evolution of Exposures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In this section are presented the evolution of financial exposure, the VaR calculated using the internal &nbsp;model and its backtesting and the Stress Analysis</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial Exposure &#8211; Trading Portfolio (Fair value)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk factors</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fixed rates</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,614,849</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,184,099</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,026,609</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,806,553</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>IGP-M (General Index of market pricing) / IPCA (Consumer price index)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,053,893</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>532,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>330,819</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>404,612</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,808,598</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,658,084</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>997,507</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>878,284</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign Currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,808,598</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,103,715</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,005,349</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,024,526</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>461,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>468,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sovereign/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>560,619</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>360,252</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,301,628</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>906,361</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>257,537</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,517</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>218,421</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,566,051</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,406,535</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,880,333</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,020,336</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 1pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-60</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>



<P>&nbsp;</P>

&nbsp; <A name="page_268"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>VaR Internal Model &#8211;Trading Portfolio</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The 1-day VaR of Trading Portfolio net of tax effects in end of 2017 was R$ 14,417 thousand, with the interest rate risk as the largest participation of the portfolio. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk factors</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fixed rates</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,956</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,704</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>IGP-M (General Index of market pricing) / IPCA (Consumer price index)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,751</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>416</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>64</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign Currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,925</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>224</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sovereign/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>826</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,230</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>289</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Correlation/diversification effect</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,379)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,892)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>VaR at the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,417</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,748</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Average VaR in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,024</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,910</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Minimum VaR in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,499</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,408</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Maximum VaR in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100,640</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,726</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>VaR Internal Model &#8211; Regulatory Portfolio </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The capital is calculated by the normal delta VaR model based in Regulatory Portfolio, composed by Trading Portfolio and the Foreign Exchange Exposures and the Commodities Exposure of the Banking Portfolio. In addition, the historical simulation and the Delta&#8211;Gama&#8211;Vega models of risk are applied to measure all risk factors to an options portfolio, whichever is the most conservative. In this model, risk value is extrapolated to the regulatory</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif> horizon<SUP>(</SUP></FONT><SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>1</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>)</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif> (at least ten days) </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>by the &#8216;square root of time&#8217; method. VaR and Stressed VaR shown below refer to a ten-day horizon and are net of tax effects.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk factors</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>VaR</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Stressed</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>VaR</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Stressed</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,659</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,400</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,231</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>149,043</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange rate</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,715</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,300</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,713</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Commodity price (Commodities)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,110</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>200</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,400</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Correlation/diversification effect</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,429</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>240</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,872)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,296)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>VaR at the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,978</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,540</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,337</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>168,489</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Average VaR in the year</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,358</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>107,059</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,249</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>179,169</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Minimum VaR in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,945</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,803</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,810</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,230</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Maximum VaR in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>369,342</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>236,895</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>131,105</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>247,814</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Note: Ten-day horizon VaR net of tax effects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>To calculate regulatory capital requirement according to the internal model, it is necessary to take into consideration the rules described by Brazilian Central Bank Circular Letters </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>n</FONT><SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> 3,646/13 and 3,674/13, such as the use of VaR and Stressed VaR net of tax effects, the average in the last 60 days and its multiplier.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0in 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: super" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>The maximum amount between the book&#8217;s holding period and ten days, which is the minimum regulatory horizon required by Brazilian Central Bank, is adopted. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0in 0in">&nbsp;</P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-61</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>VaR Internal Model &#8211; Backtesting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risk methodology applied is continuously assessed using backtesting techniques, which compare the one-day period VaR with the hypothetic P&amp;L, obtained from the same positions used in the VaR calculation, and with the effective P&amp;L, also considering the intraday operations for which VaR was estimated.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main purpose of backtesting is to monitor, validate and assess the adherence of the VaR model, and the number of exceptions that occurred must be compatible with the number of exception accepted by the statistical tests conducted and the confidence level established. Another objective is to improve the models used by the Organization, through analyses carried out with different observation periods and confidence levels, both for Total VaR and for each risk factor. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Daily hypothetical and effective P&amp;L over the last 250 business days surpassed their respective VaR only once, with a confidence level of 99%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>According to the document published by the Basel Committee on Banking Supervision<SUP>(2)</SUP>, exceptions are classified as being due to &#8220;either bad luck or the markets did not behave as expected by the model&#8221;, i.e. volatility was significantly higher than expected and, in certain situations, the correlations differed from those forecast by the model.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Stress Analysis &#8211; Trading Portfolio</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization also assesses on a daily basis, the possible impacts on positions in stress scenarios for the next 20 business days, with limits established in the governance process. Thus, considering the effect of diversification between the risk factors and the tax effects, the average of the possible loss estimates in a stress situation would be R$ 168,751&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>thousand</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> in 2017 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(2016 &#8211; R$&nbsp;198,274 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>thousand</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>, and the maximum estimated loss in the year of 2017 would be R$ 387,884 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>thousand </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(2016 &#8211; R$ 371,395 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>thousand</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>At the end of the year</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,949</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>338,004</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Average in the year</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>168,751</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>198,274</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Minimum in the year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,426</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,152</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Maximum in the year</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>387,884</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>371,395</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 35.4pt; TEXT-INDENT: 7.15pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Note: Values net of tax effects.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Sensitivity Analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Trading Portfolio is also monitored daily by sensitivity analyses that measure the effect of movements of market and price curves on our positions. Furthermore, a sensitivity analysis of the Organization&#8217;s financial exposures (Trading and Banking Portfolio) is performed on a quarterly basis, in compliance with CVM Rule n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> 475/08.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The sensitivity analyses were carried out based on the scenarios prepared for the respective dates, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.85pt 0in 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><SUP>(2</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: 0px" face="Times New Roman"><SUP>)</SUP></FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif> </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>Supervisory Framework for the use &#8220;Backtesting&#8221; in Conjunction with the Internal Models Approach to Market Risk Capital Requirements </FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>(January 1996).</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-62</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P><FONT lang=PT-BR></FONT></DIV></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 1: &nbsp;&nbsp;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.17 was used, while for a 1-year fixed interest rate of 6.90%, a scenario of 6.91% &nbsp;was applied;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 2: &nbsp;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>25.0% stresses were determined based on market information. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.93 was used, while for a 1-year fixed interest rate of 6.90%, a 8.62% scenario was applied. The scenarios for other risk factors also accounted for 25% stresses in the respective curves or prices; and</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 3: &nbsp;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>50.0% stresses were determined based on market information. For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also account for 50.0% stresses in the respective curves or prices.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The results show the impact for each scenario on a static portfolio position. The dynamism of the market and portfolios means that these positions change continuously and do not necessarily reflect the position demonstrated here. In addition, the Organization has a continuous market risk management process, which is always searching for ways to mitigate the associated risks, according to the strategy determined by Management Therefore, in cases of deterioration indicators in a certain position, proactive measures are taken to minimize any potential negative impact, aimed at maximizing the risk/return ratio for the Organization.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-63</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Sensitivity Analysis &#8211; Trading Portfolio</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trading Portfolio (1)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenarios</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenarios</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in fixed interest rates and interest rate coupons</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(359)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(61,497)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(120,385)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,074)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(293,350)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(568,367)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Price indexes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in price index coupon rates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(147)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,576)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(33,298)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,723)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,174)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in foreign currency coupon rates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(420)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(839)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(224)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(437)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to exchange rate variations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,629)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,736)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(81,473)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(106)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,649)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,297)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variation in stock prices</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,215)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,378)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(60,757)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sovereign/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in the interest rate of securities traded on the international market</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,469)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(61,730)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(123,461)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,464)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,649)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,751)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure not classified in other definitions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(19)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(39)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total excluding correlation of risk factors</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,828)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(212,337)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(420,213)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,672)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(311,614)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(606,065)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total including correlation of risk factors</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,448)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(131,662)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(259,684)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,058)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(295,900)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(574,058)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Values net of taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-64</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Presented below, the Sensitivity Analysis &#8211; Trading and Banking Portfolio.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Sensitivity Analysis &#8211; Trading and Banking Portfolio</FONT></B></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=6 width="46%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;&nbsp;</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trading and Banking Portfolios (1)</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenarios</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Scenarios</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in fixed interest rates and interest rate coupons</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12,579)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,339,939)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,560,181)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,994)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,466,388)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,786,687)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Price indexes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in price index coupon rates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(512)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(56,130)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(107,716)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,255)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,224,208)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,264,187)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exchange coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in foreign currency coupon rates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,575)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(80,110)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(158,548)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(455)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(49,446)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(93,726)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to exchange rate variations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(600)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(15,004)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,008)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(867)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,663)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(43,327)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variation in stock prices</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,289)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(407,237)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(814,475)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,817)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(370,420)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(740,841)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sovereign/Eurobonds and Treasuries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure subject to variations in the interest rate of securities traded on the international market</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,978)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(205,764)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(406,054)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,786)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(15,940)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(32,801)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure not classified in other definitions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(307)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(613)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(55)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total excluding correlation of risk factors</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36,545)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,104,491)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,077,595)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36,175)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,148,093)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,961,624)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total including correlation of risk factors</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,956)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,678,101)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,232,466)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,893)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,691,157)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,090,253)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 46.35pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Values net of taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</H3>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-65</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_73"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.3.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Liquidity risk </FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Liquidity Risk is represented by the possibility of the institution not being able to efficiently meet its obligations, without affecting its daily operations and incurring significant losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The understanding and monitoring of this risk are crucial to enable the Organization to settle operations in a timely manner. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Management Process for Liquidity Risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The management of liquidity risk is a group-wide process. This process involves several areas with specific responsibilities. The measurement and control of liquidity risk are conducted in a centralized and independent manner, including the daily monitoring of available funds, the compliance with the liquidity level according to the risk appetite defined by the board,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>as well as</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the contingency plan and recovery for possible stress situations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has a Liquidity Risk Management Policy approved by the Board of Directors, which has as one of its objectives to ensure the existence of norms, criteria and procedures for the correct monitoring of this type of risk, as well as the existence of a strategy and of action plans for liquidity crisis situations. The policy and controls established fully comply with the provisions of CMN Resolution 4,557/17.</FONT></FONT> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Control and Monitoring</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Liquidity risk management is carried out by the Treasury Department, based on the positions available, by independent area. The DCIR is responsible for the measurement methodology, control of the limits established by type of currency and company (including non-financial), review of policies, standards, criteria and procedures and studies for new recommendations.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Liquidity risk is monitored daily by the business and control areas and at the meetings of the Treasury Asset and Liability Management Executive Committee, which manages liquidity reserves, with term and currency mismatches. Monitoring is also handled by the Integrated Risk and Capital Allocation Management Committee and the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Since October, 2017, the Organization adopted as its main metric also for internal management, Short-Term Liquidity indicator (LCR), as provided by CMN Resolution 4,401/15 of CBB Circular Letter 3,749/16.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>LCR - Liquidity Coverage Ratio</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Liquidity Coverage Ratio (LCR) is designed to ensure that the Organization maintains a sufficient level of liquid assets to cover liquidity needs in an eventual stress scenario. The LCR is the ratio between the stock of High Quality Liquid Assets (HQLA) and total net cash outflow, calculated based on a generic stress scenario. The formula below shows the main components of the indicator:</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-66</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>LCR = &nbsp;</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>HQLA</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>&nbsp; &#8805; % Required</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash Outflows</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>-</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>Cash Inflows*</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" color=#000000 face=arial,sans-serif>*Limited to 75% of outflows</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In accordance with the LCR implantation schedule, the level of the ratio between HQLA and total net cash outflows must comply with the following schedule:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Year</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2018</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in" align=center><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>As of 2019</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>% Required</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70%</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80%</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>90%</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 5.65pt 0pt 0in" align=center><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The stress scenarios parameterization was conducted by the Brazilian Central Bank to capture idiosyncratic and market shocks, considering the period of thirty days. The items below show some of the shocks included in the methodology: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226; the partial loss of retail and uncollateralized wholesale funding, as well as short-term funding capacity; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226; the additional outflow of funds, contractually foreseen, due to the downgrading of the institution&#8217;s credit rating by up to three levels, including eventual additional collateral requirements; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226; an increase in the volatility of factors that impact collateral quality or the potential future exposure of derivative positions, resulting in the application of larger collateral discounts or a call for additional collateral or in other liquidity requirements; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226; withdrawals of higher than expected amounts from credit/liquidity lines granted; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&#8226; the potential need to repurchase debt or honor non-contractual obligations in order to mitigate reputational risk.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>High Quality Liquid Assets (HQLA) </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>HQLA are assets that maintain their market liquidity in periods of stress and that meet the minimum requirements established by the Brazilian Central Bank, such as, among others, being free of any legal impediment or restriction; suffering little or no loss in market value when converted into cash; having a low credit risk; easy and accurate pricing; and being traded in an active and important market, with little difference between the purchase and sale price, high traded volume and a large number of participants. These assets are subject to weighting factors which may reduce their value, for example in accordance with the risk rating of their issuer or the historic variation in their market price, among other requirements. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash Outflows and Inflows </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash outflows are the result of a reduction in deposits and funding; the maturity of securities issued; scheduled contractual obligations for the next 30 days; margin adjustments and calls in derivative operations; the utilization/withdrawal of credit and liquidity lines granted by the Bank; and contingent cash outflows. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash inflows for the next thirty days correspond to the expected receipt of loans and financings; deposits; securities; and margin adjustments and easing in derivative operations.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-67</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below shows the average LCR Prudential Conglomerate:</FONT></P>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Information on the Liquidity Coverage Ratio (LCR)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31 (1)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31 (2)</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Average Amount (3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Weighted Average Amount (4)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Average Amount (3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Weighted Average Amount (4)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Number of Line</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>High Quality Liquid Assets (HQLA)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total High Quality Liquid Assets (HQLA)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,596,242</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>146,652,484</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Number of Line</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash Outlows</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Retail funding:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>210,005,411</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,749,477</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>227,352,566</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,702,571</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Stable funding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,661,528</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,783,076</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>140,847,861</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,225,436</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Less stable funding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>74,343,883</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,966,401</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>86,504,705</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,477,135</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-collateralized wholesale funding:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>112,474,083</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,716,519</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>102,652,197</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,853,687</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Operating deposits (all counterparties) and affiliated cooperative deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,152,936</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>407,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,226,398</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>192,711</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-operating deposits (all counterparties)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,275,838</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,263,563</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>95,809,211</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,044,388</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other non-collateralized wholesale funding</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,045,309</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,045,309</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>616,588</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>616,588</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Collateralized wholesale funding</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,656,909</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,808,725</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additional requirements:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,751,894</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,746,422</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>99,952,624</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,328,908</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related to exposure to derivatives and other collateral requirements</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,192,265</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,089,564</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,283,688</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,017,294</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related to funding losses through the issue of debt instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>345,574</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>345,574</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,682</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,332</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Related to lines of credit and liquidity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>82,214,055</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,311,284</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,635,254</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,305,282</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other contractual obligations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,492,461</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,811,462</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,749,147</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,749,147</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other contingent obligations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>131,133,680</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,160,312</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>156,190,246</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,581,011</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total cash outflows</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>122,841,100</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,024,048</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Number of Line</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash Inflows</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>17</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Collateralized loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>161,500,640</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>189,610,077</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>937,935</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Outstanding loans whose payments are fully up-to-date</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,424,050</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,009,387</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,529,539</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,090,950</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other cash inflows</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,624,328</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,429,233</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,079,562</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,347,511</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total cash inflows</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>218,549,018</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,438,620</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>248,219,178</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,376,396</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total Adjusted Amount (5)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total Adjusted Amount (5)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total HQLA</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,596,242</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>146,652,484</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total net cash outflow</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,402,480</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,647,652</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="44%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>LCR (%) (5)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>156.2%</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>181.8%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Calculated based on the simple daily average of the months that compose the quarter (61 observations);</FONT></P>

<P style="MARGIN: 0in 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);</FONT></P>

<P style="MARGIN: 0in 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corresponds to the total balance related to the item of cash inflows or outflows;</FONT></P>

<P style="MARGIN: 0in 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corresponds to the value after application of the weighting factors; and</FONT></P>

<P style="MARGIN: 0in 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corresponds to the calculated value after the application of weighting factors and limits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The amount of net assets (HQLA) consists, in addition to the compulsory returns and reserves at the Brazilian Central Bank, mainly of federal government securities. These net assets resulted in R$125,596,242 thousand, the average of the year of 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Related to the cash outflows, based on the regulatory stress scenario (line 16), about 54.0% are redemptions and non-renewals retail and wholesale funding without collateral (unsecured), as shown on the lines 2 and 5 of the table. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Another relevant group refers to the item "Other contractual obligations" (line 14), which mainly includes the output streams of onlending operations, credit cards and trade finance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Regarding cash inflows, corresponding to R$ 42,438,620 thousand in the average of the year, </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>stand out the receipts of loans operations (partial renewal), the inflows of Trade Finance operations, cash and cash equivalents and redemptions of securities in addition to the inflow of transfer and credit card operations.</FONT></P>

<P>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-68</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Internal Communication</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the process of liquidity risk management, reports are distributed daily to the areas involved in management and control, as well as to Management. This process includes the use of several analysis instruments to monitor liquidity, such as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Daily distribution </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>of liquidity control instruments</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Automatic </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>intra-day update of the liquidity reports for appropriate management by the Treasury Department</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Preparation of reports with past behavior and future simulations based on scenarios</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Daily verification of compliance with minimum </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>liquidity levels</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Elaboration of complementary reports where the concentrations of&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>funding</FONT> by type of product, term and counterpart<FONT style="FONT-SIZE: 10pt" face=Arial>y</FONT> are presented; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Weekly reports to the Board of Executive </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Officers, showing the behavior and expectations related to the liquidity</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> situation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The liquidity risk management process also has an alert system that selects the appropriate reporting level according to the percentage of the established limit utilized. Thus, the lower the liquidity ratios, the higher the number and echelon of Senior Management members who receive the reports.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Undiscounted cash flows of financial liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below presents the cash flows payable for non-derivative financial liabilities, covering the remaining contractual period to maturity as from the date of the consolidated statement of financial position. The values disclosed in this table represent the undiscounted contractual cash flows.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Up to 1 month</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 3 months</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 3 months to 1 year</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>197,275,471</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,199,209</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,240,285</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,251,295</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,593,477</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>293,559,737</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>141,846,015</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,519,939</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,476,264</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>106,861,185</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,268</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>272,820,671</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,346,915</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,222,173</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>69,548,689</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>77,143,455</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,503,901</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>164,765,133</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>896,349</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,705,136</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,942,643</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,064,409</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,166,577</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>71,775,114</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial liabilities (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,<FONT style="FONT-SIZE: 8pt" face=Arial>606</FONT>,<FONT style="FONT-SIZE: 8pt" face=Arial>124</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,<FONT style="FONT-SIZE: 8pt" face=Arial>785</FONT>,744</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,<FONT style="FONT-SIZE: 8pt" face=Arial>290</FONT>,146</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,<FONT style="FONT-SIZE: 8pt" face=Arial>711</FONT>,492</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,<FONT style="FONT-SIZE: 8pt" face=Arial>046</FONT>,006</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,439,512</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>386,<FONT style="FONT-SIZE: 8pt" face=Arial>970</FONT>,<FONT style="FONT-SIZE: 8pt" face=Arial>874</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,<FONT style="FONT-SIZE: 8pt" face=Arial>432</FONT>,201</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>142,<FONT style="FONT-SIZE: 8pt" face=Arial>498</FONT>,027</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>240,<FONT style="FONT-SIZE: 8pt" face=Arial>031</FONT>,83<FONT style="FONT-SIZE: 8pt" face=Arial>6</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,<FONT style="FONT-SIZE: 8pt" face=Arial>427</FONT>,229</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>865,360,167</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><U><FONT face=Arial></FONT></U>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-69</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Up to 1 month</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 3 months</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 3 months to 1 year</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>166,104,038</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,369,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>67,893,343</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>57,316,125</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,602,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>316,285,779</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>137,186,325</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,655,017</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,460,997</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,377,222</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,507</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>250,783,068</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,239,074</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,971,886</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>78,896,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>91,190,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,850,999</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>194,148,983</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>439,974</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,268,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,958,373</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,756,298</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,110,903</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>71,534,166</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial liabilities (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,547,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,025,726</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,516,140</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,837,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,663,580</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,590,742</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>355,517,060</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,290,873</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>177,725,471</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>264,477,698</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,331,636</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>894,342,738</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;(1) I</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>nclude, mainly, credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The assets available to meet all the obligations and cover the outstanding commitments include cash and cash equivalents, financial assets, loans and advances. Management may also cover unexpected cash outflows by selling securities and by having access to sources of additional funds, such as asset-backed-markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The previous table shows the undiscounted contractual cash flows of the financial liabilities of the Organization. The cash flows that the Organization estimates for these instruments may vary significantly from those presented. For example, it is expected that demand deposits of customers will maintain a stable or increasing balance, and it is not expected that these deposits will be withdrawn immediately.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The gross cash outflows presented in the previous table refer to the undiscounted contractual cash flow related to the financial liability. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the Organization, liquidity-risk management involves a series of controls, mainly related to the establishment of technical limits, with the ongoing evaluation of the positions assumed and the financial instruments used.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><A name="_Toc279663414"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Undiscounted cash flows for derivatives </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All the derivatives of the Organization are settled at net value, and include: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign currency derivatives &#8211; over-the-counter currency options, currency futures, and currency options traded on an exchange; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest rate derivatives &#8211; interest rate swaps, foward rate contracts, interest rate options, other interest rate contracts, interest rate futures traded on an exchange and interest rate options traded on an exchange. </FONT></P>

<P style="MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below analyzes the derivative financial liabilities that will be settled at net value, grouped based on the period remaining from the reporting date to the respective maturity date. The values disclosed in the table are undiscounted cash flows.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-70</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Up to 1 month</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 3 months</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 3 months to 1 year</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Differential of swaps payable</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>279,134</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,468</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>536,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,169,717</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>166,038</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,276,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-deliverable forwards</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>201,115</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>95,761</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>147,710</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>66,682</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>737</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>512,005</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226; Purchased</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,599</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,513</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>90,914</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>65,640</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>737</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>284,403</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226; Sold</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>127,516</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,248</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,796</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,042</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>227,602</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Premiums of options</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>551,220</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,510</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,443</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>63,052</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>303,200</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>965,425</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment payables - future</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>155,305</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>155,305</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total of derivative liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,186,774</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>234,739</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>718,559</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,299,451</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>469,975</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,909,498</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="62%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Up to 1 month</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 3 months</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 3 months to 1 year</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>From 1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Differential of swaps payable</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,426,666</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>183,769</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>546,569</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,695,486</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>169,285</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,021,775</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-deliverable forwards</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,772,919</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>264,887</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>542,923</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>158,670</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>547</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,739,946</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226; Purchased</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>212,953</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>256,669</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>534,800</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>150,289</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>547</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,155,258</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226; Sold</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,559,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,218</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,123</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,381</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,584,688</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Premiums of options</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>150,945</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,342</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,154</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,217</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,658</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment payables - future</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,164</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,164</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total of derivative liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,369,694</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>476,998</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,129,646</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,897,373</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>169,832</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,043,543</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-71</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_79"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Statement of financial position by maturities </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The tables below show the financial assets and liabilities of the Organization segregated by maturities used for the management of liquidity risks, in accordance with the remaining contractual maturities on the reporting date:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=5 width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 30 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31 to 180 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>181 to 360 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>No stated maturity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,742,951</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,742,951</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,181,714</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,934,575</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,501,249</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>146,527,365</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,173,284</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,391,854</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,710,041</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,422,266</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,392,915</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,351,886</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,816,085</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,391,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,037,807</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,412,722</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,753</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,454</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,205</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,284,940</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,691,766</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,006,118</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,977,537</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>111,922,357</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,543,922</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,965,417</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,565,940</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>183,975,173</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,136,673</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,544,426</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,387,187</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,754,483</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>424,955</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,830,036</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,715,548</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,526,092</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,151,120</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,535,303</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial assets (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,375,820</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,340,567</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,807,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,322,882</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,872,358</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,719,483</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>229,674,750</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>217,852,842</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,137,397</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>408,822,292</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>167,655,369</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,429,661</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,126,572,311</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>197,177,061</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,640,587</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,589,994</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,221,075</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,328,751</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,957,468</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>142,525,722</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,400,607</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,531,633</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,523,112</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,371</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,008,445</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,552,386</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>201,643</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,073</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>134,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>305,248</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,274,999</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,422,727</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,299,770</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,540,240</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,142,979</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>768,374</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,174,090</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>738,929</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,428,997</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>640,536</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,767,242</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,603,697</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,179,401</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Insurance technical provisions and pension plans (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>207,499,559</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,411,996</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>939,034</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,239,001</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,089,590</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial liabilities (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,606,124</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,785,744</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,290,146</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,711,492</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,046,006</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,439,512</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>608,522,508</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,169,344</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,612,656</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>223,739,550</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,079,447</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,049,123,505</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=5 width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 30 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31 to 180 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>181 to 360 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>No stated maturity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cash and balances with banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>72,554,651</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>72,554,651</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,475,080</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,768,610</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,759,221</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>134,589,655</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,837,056</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,710,224</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>213,139,846</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,629,209</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,127,660</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,149,003</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,251,675</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,143,446</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,817,561</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,118,554</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,932,440</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,069,588</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,002,028</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,646,950</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,394,834</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,904,827</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,753,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,586,901</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>155,286,577</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>88,759,292</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,545,217</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,120,712</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,398,574</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,341</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>58,151,213</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,409,338</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>54,879,049</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,744,273</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,119,161</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial assets (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,657,932</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>633,472</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>287,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,384,379</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,207,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,171,191</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>352,874,327</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>102,879,131</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,100,254</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>394,054,061</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>157,978,459</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,527,785</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,098,414,017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>162,977,360</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>63,417,792</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,850,717</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,045,413</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,371,400</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,662,682</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>137,252,829</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,331,311</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,457,530</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,641,804</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>64,455</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,747,929</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,428,599</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>534,525</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>279,662</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>192,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>243</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,435,678</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,295,059</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,280,096</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,140,968</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>57,237,747</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,148,068</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,101,938</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>426,665</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,904,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,068,023</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,554,158</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,657,362</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064</FONT></P></TD></TR></TABLE></DIV>

<P>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-72</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_280"></A>

<a name="_bclHeader280"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=5 width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 30 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31 to 180 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>181 to 360 days</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1 to 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>More than 5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>No stated maturity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Insurance technical provisions and pension plans (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>182,739,608</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,342,339</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,306,760</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,451,293</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>215,840,000</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other financial liabilities (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,547,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,025,726</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,516,140</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,837,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,663,580</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,590,742</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>544,667,769</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>140,836,645</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,619,800</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>231,960,711</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,905,108</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,028,990,033</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1)&nbsp; Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2) Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3) Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-73</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_81"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The tables below show the assets and liabilities of the Organization segregated by current and non-current, on the reporting date:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>531,664,989</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>594,907,322</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,126,572,311</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,520,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,520,973</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments in associated companies</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Premises and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,432,475</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,432,475</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,179,307</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,179,307</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Taxes to be offset</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,589,981</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,934,594</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,524,575</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,731,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,731,911</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,602,669</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,531,835</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,134,504</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total non-financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,713,623</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>85,067,506</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,781,129</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>544,378,612</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>679,974,828</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,224,353,440</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>796,304,508</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>252,818,997</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,049,123,505</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,349,366</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,141,361</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,490,727</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current income tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,416,345</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,416,345</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,344</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,215,503</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,251,847</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,460,225</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,917,087</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,377,312</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total non-financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,262,280</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,273,951</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>57,536,231</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,693,704</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,693,704</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>833,566,788</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>390,786,652</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,224,353,440</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-74</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_282"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>528,853,712</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>569,560,305</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,098,414,017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Non-current assets held for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,578,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,578,966</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investments in associated companies</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Premises and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible assets and goodwill, net of accumulated amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,797,526</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,797,526</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Taxes to be offset</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,114,609</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,608,602</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,723,211</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,116,863</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,116,863</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,278,675</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,720,504</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,999,179</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total non-financial assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,972,250</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,643,389</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,615,639</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>538,825,962</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>653,203,694</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,192,029,656</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>766,124,214</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,865,819</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,028,990,033</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other reserves</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,293,374</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,999,035</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,292,409</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current income tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,130,286</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,130,286</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred income tax assets</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,943</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,726,005</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,762,948</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,917,264</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>457,509</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,374,773</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total non-financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,377,867</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,182,549</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>57,560,416</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total equity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,479,207</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,479,207</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>807,502,081</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>384,527,575</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,192,029,656</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-75</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -0.3in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.4.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair value of financial assets and liabilities</FONT></B></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization applies IFRS 13 for financial instruments measured in the consolidated statement of financial position at fair value, which requires disclosure of fair-value measurements according to the following fair-value hierarchy of fair value measurement:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Level 1</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active market, as well as Brazilian government securities that are highly liquid and are actively traded in over-the-counter markets.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Level 2</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Valuation uses observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data, including but not limited to yield curves, interest rates, volatilities, equity or debt prices and foreign exchange rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Level 3</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Valuation uses unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities normally include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant Management judgment or estimation. This category generally includes certain corporate and bank debt securities and certain derivative contracts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>To fair value securities which have no consistent, regulatory updated, public price source,&nbsp; Bradesco uses models defined by the mark-to-market Commission and documented in the mark-to-mark manual for each security type. Through the use of methods and both mathematical and financial models which capture the effects and variations in the prices of marked-to-market assets, or similar instruments, Bradesco is able to ascertain in a clear and consistent manner the determination of fair value of its level 3 assets and liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter283"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-76</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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&nbsp; <A name="page_284"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The tables below present the composition of the financial assets and liabilities measured at fair value, classified using the hierarchical levels:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="55%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair Value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>198,273,452</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,975,816</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>202,249,272</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt and marketable equity securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,716,053</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,271,295</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>352,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>12,339,790</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,952,015</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,396,254</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,348,269</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,377,508</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,377,508</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign governments securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>528,010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>528,010</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>307</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>307</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trading securities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>208,847,345</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,643,365</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>352,446</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>227,843,156</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments (assets)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>46,601</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,814,312</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,972</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,866,885</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments (liabilities)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(14,264,124)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(10,875)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(14,274,999)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivatives</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>46,601</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(449,812)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(4,903)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(408,114)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>103,237,635</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>44,123</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>103,281,758</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,786,078</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,740,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,451,696</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>39,978,630</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,086,454</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,399</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,183,853</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>728,127</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>728,127</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign governments securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,202,547</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,202,547</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Marketable equity securities and other stocks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,380,606</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,261,732</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,395,469</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,037,807</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Available-for-sale securities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,421,447</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,099,987</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,891,288</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,412,722</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,841,066</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,841,066</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>825,287</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>825,287</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,904,070</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,904,070</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>713,555</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>713,555</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,283,978</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,283,978</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>386,599,371</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,293,540</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,238,831</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>447,131,742</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair Value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>157,346,640</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,756,680</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>79</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>161,103,399</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt and marketable equity securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,740,235</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,356,302</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>287,145</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,383,682</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>470,676</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,129,451</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,600,127</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,295,403</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,378</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,303,781</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign governments securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>635,390</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>635,390</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,358,025</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,358,025</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trading securities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>167,846,369</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,250,811</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>287,224</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>196,384,404</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments (assets)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>26,632</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>16,728,802</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>16,755,442</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments (liabilities)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(13,427,053)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(8,625)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(13,435,678)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivatives</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>26,632</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,301,749</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(8,617)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,319,764</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>59,149,326</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>48,702</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>59,198,028</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,470,652</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,431,230</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,240,826</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>42,142,708</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,063,157</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>495,886</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,559,043</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>401,214</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>401,214</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Marketable equity securities and other stocks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,387,158</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,706,578</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,723,825</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,817,561</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Available-for-sale securities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>66,471,507</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,633,694</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,013,353</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,118,554</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,812,995</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>61,812,995</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,899,878</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,899,878</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,742,273</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,742,273</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>102,841</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>102,841</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,557,987</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,557,987</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>304,902,495</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,186,254</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,291,960</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>383,380,709</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-77</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_85"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derivative Assets and Liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization&#180;s derivative positions are determined using quantitative models that require the use of multiple inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors. The majority of market inputs are observable and can be obtained, from B3 (principal source) and the secondary market. Exchange traded derivatives valued using quoted prices are classified within Level 1 of the valuation hierarchy. However, few classes of derivative contracts are listed on an exchange; those that are not are classified as Level 2 or Level 3.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The yield curves are used to determine the fair value by the method of discounted cash flow, for currency swaps and swaps based on other risk factors. The fair value of futures and forward contracts is also determined based on quoted markets prices on the exchanges for exchanges-traded derivatives or using similar methodologies to those described for swaps. The fair value of options is determined using external quoted prices or mathematical models, such as Black-Scholes, using yield curves, implied volatilities and the fair value of the underlying asset. Current market prices are used to determine the implied volatilities. The majority of these models do not contain a high level of subjectivity as the methodologies used in the models do not require significant judgment and inputs to the model are readily observable from active quoted markets. Such instruments are generally classified within Level 2 of the valuation hierarchy. The fair values of derivative assets and liabilities also include adjustments for market liquidity, counterparty credit quality and other specific factors, where appropriate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Derivatives that are valued based on mainly unobservable market parameters and that are not actively traded are classified within Level 3 of the valuation hierarchy. Level 3 derivatives include credit default swaps which have corporate debt securities as underlyings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years 2017 and 2016:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivatives</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>209,210</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,085,190</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,382)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,274,018</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Included in the statement of income and other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,155</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,174,225)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,161,070)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisitions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,833</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,178,445</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,793</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,194,071</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,633)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(445,173)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(452,834)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transfer with categories</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>274,001</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(274,001)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transfer levels</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(205,342)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,356,883)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,562,225)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31,&nbsp; 2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>287,224</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,013,353</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,617)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,291,960</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Included in the statement of income and other comprehensive income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,868</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(735,002)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(719,134)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisitions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>74,908</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,019,844</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,714</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,098,466</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,554)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,406,907)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,432,461)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31,&nbsp; 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>352,446</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,891,288</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,903)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,238,831</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 60.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2016, there was a transfer of securities from Level 3 to other levels of classification, mainly for &nbsp;level 2 in the amount R$ 1,562,225 thousand. The transfer refers, basically, to Corporate debt securities, which were based on the fair value obtained from internal pricing models, mainly customer internal rating, began to be calculated based on observable market data (Anbima&#8217;s credit curve).

<P>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-78</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></FONT>

&nbsp; <A name="page_286"></A>

<a name="_bclHeader286"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The tables below show the gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities during the years 2017, 2016 and 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>182,269</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>208,236</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net trading gains/(losses) realized and unrealized</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,099)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(917,271)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(927,370)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,868</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(735,002)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(719,134)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,518</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>207,164</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>223,682</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net trading gains/(losses) realized and unrealized</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,381,389)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,384,752)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,155</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,174,225)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,161,070)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets available for sale</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest and similar income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>440,791</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,399,443</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,840,234</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net trading gains/(losses) realized and unrealized</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,496</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,094,894</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,105,390</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>451,287</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,494,337</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,945,624</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The tables below show the gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities, which were not settled during the years 2017, 2016 and 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt" height=16>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net gains/(losses) due to changes in fair value</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,099)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,099)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,099)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,099)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt" height=15>&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter286"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-79</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_87"></A>

<a name="_bclHeader287"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net gains/(losses) due to changes in fair value</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,363)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets held for trading</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net gains/(losses) due to changes in fair value</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,420</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,420</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,420</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,420</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Sensitivity analysis for financial assets classified as Level 3</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on income (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on shareholders&#8217; equity (1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(8)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,931)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,482)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(63)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,873)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,345)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Price indexes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,269)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,394)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,351)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(33,783)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(67,567)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,825)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(445,615)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(891,231)</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 21.25pt 0pt 53.45pt; TEXT-INDENT: -10.9pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)Values net of taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on income (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on shareholders&#8217; equity (1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(271)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(476)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,205)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,088)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Price indexes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,047)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,953)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(19,481)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(487,018)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(974,037)</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 21.25pt 12pt 53.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Values net of taxes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The sensitivity analyses were carried out based on the scenarios prepared for the dates shown, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 1:&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.17 was used, while for a 1-year fixed interest rate of 6.90%, a 6.91% scenario was applied;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 2: &nbsp;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>25.0% stresses were determined based on market information. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.93 was used, while for a 1-year fixed interest rate of 6.90%, a 8.62% scenario was applied. The scenarios for other risk factors also had 25.0% stresses in the respective curves or prices; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Scenario 3: &nbsp;</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>50.0% stresses were determined based on market information. For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also had 50% stresses in the respective curves or prices.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 106.35pt; TEXT-INDENT: -63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-80</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial instruments not measured at fair value</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below summarizes the carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value, classified using the hierarchical levels:</FONT></P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair Value</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Book value</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; securities purchased under agreements to resell</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,182,489</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,963,782</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,146,271</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,006,118</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and receivables</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Banks (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Customers (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,633,592</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,633,592</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,716,505</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,716,505</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,957,468</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>261,760,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>261,760,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,008,445</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>134,890,631</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>134,890,631</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,174,090</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,012,436</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>51,012,436</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,179,401</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fair Value</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Book value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 1</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 2</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Level 3</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial assets pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; securities purchased under agreements to resell</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,875,426</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,379,323</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,254,749</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,002,028</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and receivables</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Banks (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Customers (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>362,156,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>362,156,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,497,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,497,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,662,682</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,224,796</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,224,796</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,747,929</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,622,981</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,622,981</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,101,938</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,436,792</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,436,792</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)&nbsp; Amounts of loans and receivables are presented net of the provision for impairment losses. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-81</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Below we list the methodologies used to determine the fair values presented above:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair values were estimated for groups of similar loans based upon type of loan, credit quality and maturity. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Fair value for fixed-rate transactions was determined by discounted cash flow estimates using interest rates approximately equivalent to our rates for new transactions based on similar contracts.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> Where credit deterioration has occurred, estimated cash flows for fixed and floating-rate loans have been reduced to reflect estimated losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The fair values for performing loans are calculated by discounting scheduled principal and interest cash flows through maturity using market discount rates and yield curves that reflect the credit and interest rate risk inherent to the loan type at each reporting date. The fair values for impaired loans are based on discounting cash flows or the value of underlying collateral.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The non-performing loans were allocated into each loan category for purposes of calculating the fair-value disclosure. Assumptions regarding cash flows and discount rates are based on available market information and specific borrower information.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Held to maturity</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Investments held to maturity are carried at amortized cost. Fair values are estimated according to the assumptions described on Note 2(f). See Note 22 for further details regarding the amortized cost and fair values of held-to-maturity securities.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deposits from banks and customers</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The fair value of fixed-rate deposits with stated maturities was calculated using the contractual cash flows discounted with current market rates for instruments with similar maturities and terms. For floating-rate deposits, the carrying amount was considered to approximate fair value.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The carrying values of funds from securities issued approximate the fair values of these instruments.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Subordinated debt</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair values for subordinated debts were estimated using a discounted cash flow calculation that applies interest rates available in the market for similar maturities and terms.</FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.5.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital management</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital Management Corporate Process </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Capital Management provides the conditions required to meet the Organization's strategic goals to support the risks inherent to its activities. It includes the preparation of the capital plan, identifying the contingency actions to be considered in stress scenarios.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In line with the strategic guidelines, the Organization manages capital, involving the control and business areas, in accordance with the guidelines of the Board of Executive Officers and Board of Directors. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-82</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The governance structure for the capital management and the Internal Capital Adequacy Assessment Process (ICAAP) is composed by Committees and its highest level body is the Board of Directors. The most important is the Planning, Budget and Control Department, whose mission is to provide the efficient and effective management of the business through strategic management and planning, supporting the Top Management by providing analyses and projections of capital requirements and availability, identifying threats and opportunities that help plan the sufficiency and optimization of capital levels. The Department is responsible for complying with the provisions of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Brazilian Central Bank</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> regarding capital management activities.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital Adequacy </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>This process is followed up daily to ensure that the Organization maintains a solid capital base in normal situations or in extreme market conditions and complying with regulatory requirements. &nbsp;&nbsp;&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The determination of the Central Bank, is that the financial institutions permanently maintain capital and additional Common Equity Tier I (Conservation, Countercyclical and Systemic) compatible with the risks from their activities. The risks are represented by Risk-Weighted Asset (RWA), which is calculated based on, at least, the sum of Credit, market and operational risk installments.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Additionally, the Organization must maintain enough capital to meet the interest rate risk from operations not included in the trading portfolio (Banking </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Portfolio</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>&#8217;s interest rate risk), calculated using the EVE </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(Economic Value Equity)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> method.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-83</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Analysis of Reference Equity (PR)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Following is the detailed information on the Organization's Capital, in compliance with the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Prudential</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> Conglomerate:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Calculation basis &#8211; Capital Adequacy Ratio</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Basel III</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Prudential</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tier I capital</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,084,744</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>78,762,886</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Common equity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>75,079,777</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,747,016</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>110,457,476</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>100,442,413</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Minority / Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>68,072</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,615</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Prudential adjustments (1)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(35,445,771)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,756,012)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additional Capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,004,967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,015,870</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tier II capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,588,090</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,363,950</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debts (Resolution No. 4.192/13)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,947,024</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,803,498</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debts (prior to Resolution No. 4.192/13)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,641,066</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,560,452</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reference Equity (a)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,672,834</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>101,126,836</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>- Credit risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>554,928,771</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>589,977,243</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>- Market risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,908,205</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,767,767</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>- Operational risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,605,162</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,443,507</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk-weighted assets &#8211; RWA (b)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>611,442,138</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>656,188,517</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Banking Book's Interest Rate Risk</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,527,467</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,142,339</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Margin (Capital Buffer) (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,226,583</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,084,702</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Basel ratio (a/b)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15.4%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tier I capital</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13.1%</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12.0%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>- Principal capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12.3%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>- Additional capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.8%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 53.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>CMN</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif> Resolution n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;4,192/13; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 53.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Margin = Minimum (PR &#8211; PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-84</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_292"></A>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Breakdown of Risk-Weighted Assets (RWA)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Below is the detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate, regulatory approach:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>RWA</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Prudential</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Credit risk</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>554,928,771</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>589,977,243</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 0%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 2%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>314,012</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>271,970</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,224,147</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,725,736</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 35%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,208,602</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,114,590</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 50%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,635,506</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,434,787</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 75%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,553,059</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,017,519</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>105,938,759</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>144,006,730</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 100%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>261,909,360</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,369,280</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 250%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,139,531</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,655,131</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight of 300%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,920,531</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,825,567</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Risk Weight up to 1,250%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,085,264</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,555,933</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Market Risk (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,908,205</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,767,767</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fixed-rate in Reais</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,696,584</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,537,134</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Foreign Currency Coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>838,259</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,028,051</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Price Index Coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,756,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>342,400</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest Rate Coupon</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,499</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>637,924</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>67,392</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Commodities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>449,546</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,466</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Exposure to Gold, Foreign Currencies and Exchange</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,657,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,194,380</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Operational Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,605,162</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,443,507</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Corporate Finance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,369,491</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,380,459</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trading and Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,667,449</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,866,659</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Retail</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,308,681</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,349,268</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;Commercial</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,518,843</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,699,277</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payment and Settlement</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,132,749</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,143,694</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial Agent Services</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,628,257</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,465,556</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Asset Management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,827,848</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,392,327</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Retail Brokerage</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,844</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>146,266</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total Risk Weighted Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>611,442,138</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>656,188,517</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total Capital Requirement</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,558,398</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>64,798,616</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking Book's Interest Rate Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,527,467</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,142,339</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Addicional Common equity (ACPS) (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,171,632</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,101,178</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>ACP Conservation</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,643,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,101,178</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>ACP Systemic</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,528,605</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 60.55pt; TEXT-INDENT: -0.25in"><FONT face=Arial></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-85</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>&nbsp;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital Sufficiency </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The management of capital is aligned with the strategic planning and is forward looking, anticipating any changes in the economic and commercial environment conditions in which we operate.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization&#8217;s capital management aims to ensure, in a permanently&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>solid</FONT> capital composition to support the development in its activities and ensure appropriate coverage of all risks involved. The Organization maintains a managerial capital margin (buffer), which is added to the minimum regulatory requirements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The management buffer is defined according to the leading practices and regulatory requirements, observing aspects such as additional impacts generated by stress scenarios, qualitative risks and risks not captured by the regulatory model. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization considers it comfortable to maintain a Tier I Capital margin of at least 25% in relation to the minimum capital requirements in the medium and long term, pursuant to the schedule established by the Brazilian Central Bank for the full adoption of Basel III guidelines.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The Organization&#8217;s regulatory capital sufficiency can be seen by calculating the capital adequacy ratio which in this period was 17.1%, of which 13.1% and 12.3% was Tier I and Common Equity Tier I respectively. In terms of margin, the amount totaled R$ 34,226,583 thousand, which would allow for an increase of up to R$ 672,758,390 thousand in loan operations (considering the current composition of the portfolio).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Since January 2015, according to the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>CMN</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> Resolution n&#186; 4,192/13 which deals with the methodology for calculating the ratios of Common Equity Tier 1, Tier 1 and Total Capital, the regulatory scope became the Prudential Conglomerate. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital Forecast </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The capital management area (ICAAP) and Recovery Plan of DPOC is responsible for making simulations and projections of the Organization&#8217;s capital, in accordance with the strategic guidelines, the impacts arising from variations and trends of the economic and business environment as well as regulatory changes. The results from the projections are submitted to the Top Management, pursuant to the governance established. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>The projections for the next three years present adequate levels of Capital indices, considering the incorporation of net profits and the prudential adjustments due to the increase of the factors established in Article 11 of </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>CMN</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> Resolution 4,192/13 for subsequent periods.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Simulation - Basel III </FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Based on Basel III rules published by Brazilian Central Bank in March and October 2013, which include the definition of capital and the expansion of risk scope and are being gradually implemented up to 2019, below is the simulation based in strategic assumptions for the Prudential </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Conglomerate</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>, taking into consideration the full compliance with the rules on the reference date of December 2017, i.e., anticipating all the impacts expected throughout the implementation schedule, not considering later events (example: incorporation of results), according to </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>CMN</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif> Resolution n&#186; 4,192/13.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-86</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 14.15pt 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(1) Published (Schedule 80%); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(2) Effect of the full impact. Including the reserve of Goodwill / Intangible paid for the purchase of HSBC Brasil, net of amortization and the reallocation of resources, through the payment of dividends by the Insurance Group (Grupo Segurador); </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(3) Considers the anticipation of the multiplier of installments of market and operational risks, from 9.250% to 8%, in 2019<FONT style="FONT-SIZE: 7pt" face=Arial>; and</FONT> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"> <FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face=arial,sans-serif>Refers to the minimum required, in accordance with CMN Resolution n&#186;&nbsp;4,193/13, in addition to the additional capital installments established by Circular Nos. 3,768/15 and 3,769/15. </FONT></FONT></P>

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<H3 style="PAGE-BREAK-AFTER: auto; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>3.6.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-STYLE: normal; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance risk/subscription risk</FONT></B></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance risk is the risk &nbsp;related to a possible loss event that may occur in the future and for which there is uncertainty over the amount of damages that result from it. A component of insurance risk is underwriting risk, which arises from an adverse economic situation not matching the Organization's expectations at the time of drafting its underwriting policy and calculating insurance premiums. In short, it refers to the risk of the frequency or severity of loss events or benefits exceeding the Organization's estimates.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Underwriting risk is managed by our technical areas. Underwriting and risk acceptance policies are periodically evaluated by working groups. In addition, one of the main tasks of our technical areas is the calculation of regulatory capital for these businesses and certifies studies on the pricing of new products.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The management process seeks to diversify insurance operations, aiming to excel at balancing the portfolio, and is based on the grouping of risks with similar characteristics in order to reduce the impact of individual risks.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Uncertainties over estimated future claim payments</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The organization must indemnify all covered events that occurred during the policy period, even if a loss is discovered after coverage ends. As a result, claims are reported over a period and a significant portion are accounted for in the provisions for incurred and but not reported claims (IBNR). The estimated cost of claims includes direct expenses to be incurred when settling them.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Giving the uncertainties inherent to the process for estimating claims provisions, the final settlement may be different than the original provision.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-87</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Asset and liability management (ALM)</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The organization periodically analyzes future cash flows on assets and liabilities held in portfolio (ALM - Asset Liability Management). The method used for ALM analysis is to observe the sufficiency or insufficiency of the present value of the stream of assets in relation to the present value of the stream of liabilities, and the duration of assets in relation to that of liabilities. The aim is to verify that the situation of the portfolio of assets and liabilities is balanced in order to honor the Organization's future commitments to its participants and insured persons.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The actuarial assumptions used to generate the flow of liabilities are in line with actuarial practices and also with the characteristics of the Organization's product portfolio.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk management by product</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Monitoring the insurance contract portfolio enables us to track and adjust premiums practiced, as well as assess the need for alterations. Other monitoring tools in use include: (i) sensitivity analysis, and (ii) algorithmic checks and corporate system notifications (underwriting, issuance and claims).</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main risks associated with property insurance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Oscillations in the incidence, frequency and severity of the claims and the indemnifications of claims in relation to the expectations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Unpredictable claims arising from an isolated risk;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Inaccurate pricing or inadequate underwriting of risks;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Inadequate reinsurance policies or risk transfer techniques; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insufficient or excessive technical provisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Generally the property insurance underwritten is of short duration.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The underwriting strategies and goals are adjusted by management and informed through internal guidelines and practice and procedure manuals.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risks inherent to the main property insurance business lines are summarized as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Auto insurance includes, among other things, physical damage to the vehicle, loss of the insured vehicle and third-party liability insurance for vehicles; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; LINE-HEIGHT: 115%; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Business, home and miscellaneous insurance includes, among other things, fire risks (ex: fire, explosion and business interruption), natural desasters (earthquakes, storms and floods), engineering lines (explosion of boilers, breakdown of machinery and construction) and marine (cargo and hull) as well as liability insurance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Property insurance risk management</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization monitors and evaluates risk exposure and undertakes the development, implementation and revision of guidelines related to underwriting, treatment of claims, reinsurance and constitution of technical provisions. The implementation of these guidelines and the management of these risks are supported by the technical departments of each risk area.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Technical Department has developed mechanisms, e.g. risk grouping by CPF, CNPJ and risky addresses, that identify, quantify and manage accumulated exposures in order to keep them within the limits defined in the internal guidelines. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-88</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main risks associated with life-insurance and private-pension plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Life-insurance and private-pension plans are long-term in nature and, accordingly, various actuarial assumptions are used to manage and estimate the risks involved, such as: assumptions about returns on investments, mortality and persistence rates in relation to each business unit. Estimates are based on historical experience and on actuarial expectations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risks associated with life insurance and private pension plans include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Biometric risks, which includes mortality experience, adverse morbidity, longevity and disability. The mortality risk may refer to policyholders living longer than expected (longevity) or passing away before expected. This is because some products pay a lump sum if the person dies, and others pay regular amounts while the policyholder is alive;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Policyholder&#8217;s behavior risks, which includes persistence rate experience. Low persistence rates for certain products may result in less policies/private pension plan agreements remaining contracted to help cover fixed expenses and may reduce future positive cash flows of the underwritten business. A low persistence rate may affect liquidity of products which carry a redemption benefit;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Group life-insurance risk results from exposure to mortality and morbidity rates and to operational experience worse than expected on factors such as persistence levels and administrative expenses; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Some Life and Pension Plan products have pre-defined yield guarantees, and thereby face risk from changes in financial markets, returns on investments and interest rates that are managed as a part of market risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Life-insurance and private-pension-plan risk management</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization monitors and assesses risk exposure and is responsible for developing, implementing and reviewing policies relating to underwriting, processing claims, and technical reserves for insurance purposes. Implementation of these policies and management of these risks are supported by our technical areas;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The technical areas have developed mechanisms, such as </FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>statistical reports and performance by type </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>that identify, quantify and manage accumulated exposures to keep them within limits defined by internal policies; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Longevity risks are carefully monitored in relation to the most recent data and to the trends in the environments in which the Organization and its subsidiaries and associated companies operate. Management monitors exposure to this risk and the capital implications of it in order to manage the possible impacts, as well as to ensure that business has the capital that it may require. The adminstration adopts improvement assumptions in its calculation of technical provisions in order&nbsp; to predict and thus be covered for possible impacts generated by the improvement in life expectancy of the insured/assisted population;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Mortality and morbidity risks are partially mitigated through reinsurance contracts for catastrophes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Persistency risk is managed through frequent monitoring of the Organization&#8217;s experience. Management has also defined rules on the management and monitoring of persistence and the implementation of specific initiatives to improve the renewal of policies that expire; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risk of a high level of expenses is primarily monitored through the evaluation of the profitability of the business units and the frequent monitoring of expense levels. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-89</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main risks associated with health insurance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Variations in cause, frequency and severity of indemnities of claims compared to expectations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Unforeseen claims resulting from isolated risk;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Incorrect pricing or inadequate subscription of risks; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insufficient or overvalued technical provisions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For individual health insurance, for which certain provisions are calculated based on expected future cash flows (difference between expected future claims and expected future premiums), there are a number of risks, in addition to those cited above, such as biometric risk, including mortality and longevity experience and the insured's behavioral risk, which covers persistency experience, as well as interest-rate risk that is managed as a part of market risk.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Management of health-insurance risk</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization monitors and evaluates risk exposure and is responsible for the development, implementation and review of policies that cover subscription, treatment of claims and technical insurance provisions. The implementation of these policies and management of risks are supported by the technical areas;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The technical areas have developed mechanisms, such as </FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>statistical reports and performance by type</FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>that identify, quantify and manage accumulated exposure in order to keep it within the limits defined by internal policies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Longevity risk is carefully monitored using the most recent data and tendencies of the environment in which the Organization operates. Management monitors exposure to this risk and its capital implications in order to manage possible impacts, as well as the funding that the future business needs;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Persistency risk is managed through the frequent management of the Organization&#8217;s experience. Management has also established guidelines for the management of persistency in order to monitor and implement specific initiatives, when necessary, to improve retention of policies; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The risk of elevated expenses is primarily monitored through the evaluation of the profitability of business units and the frequent monitoring of expense levels.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Results of sensitivity analysis - Damages, life and health insurance and Life with Survival and Welfare Coverage and Individual Life Insurance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Some test results are shown below. For each sensibility scenario the impact is shown in the income and shareholders' equity after taxes and contributions, in a reasonable and possible change in just a single factor. We emphasize that the insurance operations are not exposed to significant currency risk.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sensitivity factor</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Description of sensitivity factor applied</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest rate</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect of lowering the risk free forward yield curve rate</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loss events</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on the business of increased loss events and claims</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Longevity</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact of an improved survival estimates on annuity contracts</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Conversion to income</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impact on annuity contracts of a higher rate of conversion to income</FONT></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-90</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The sensi<FONT style="FONT-SIZE: 10pt" face=Arial>tivi</FONT>ty test for Life Insurance with </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Survival, Welfare Coverage</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> and </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Individual Life Insurance</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> was made considering the same bases of the LAT test with variation in the assumptions listed below:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest rate</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Longevity</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Conversion to income</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Percentage adjustment to each assumption:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Variation of <B><FONT lang=EN-US style="FONT-SIZE: 8pt" face=arial,sans-serif>-5%</FONT></B></FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 150%" color=black face=arial,sans-serif>+0.2 p.p.</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>+ 5 p.p.</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tradicional plans (contributing period)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(60,733)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,057)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,691)</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>PGBL and VGBL (contributing period)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,446)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(504)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,409)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>All plans(retirement benefit period)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(112,782)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(35,507)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(178,961)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(41,068)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,100)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>For damages, life and health insurance, except individual life, the table below shows increase in the events/claims were to rise 1 percentage point over the 12 months from the calculation base date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Gross of reinsurance</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net of reinsurance</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Auto</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(22,347)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(21,205)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(22,347)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,205)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>RE (Elementary branch)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(9,940)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(10,809)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,893)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,333)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Life</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(28,146)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(28,358)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28,050)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28,277)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Health</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(97,923)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(89,907)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(97,923)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(89,907)</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Limitations of sensitivity analysis</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sensitivity analyses show the effect of a change in an important premise while other premises remain unchanged. In real situations, premises and other factors may be correlated. It should also be noted that these sensitivities are not linear and therefore greater or lesser impacts should not be interpolated or extrapolated from these results.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Sensitivity analyses do not take account of the fact that assets and liabilities are managed and controlled. Additionally, the </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Organization&#8217;s</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> financial position may vary with any movement occurring in the market. For example, the risk management strategy aims to manage exposure to fluctuations in the market. As investment markets move, management initiatives may include sales of investments, altered portfolio allocations, and other protective measures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Other limitations of the sensitivity analyses include the use of hypothetical market movements to show the potential risk, which only represents Management&#8217;s view of possible market changes in the near future, which cannot be foreseen with certainty, and they also assume that all interest rates move in the same manner.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-91</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Risk concentration</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Potential exposures are monitored, analyzing certain concentrations in some type of insurance. The table below shows risk concentration by type of insurance (except health and dental), based on net premiums, net of reinsurance:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net premiums written by type of insurance, net of reinsurance</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Auto</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,086,705</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,924,444</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>RE (Elementary branch)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,525,848</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,593,662</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tradicional plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,788,420</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,499,401</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Life insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,904,576</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,354,034</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>VGBL</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>28,650,153</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>28,377,786</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>PGBL</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,301,623</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,386,631</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk of insurance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit risk consists of the possible incurrence of losses associated with non-performance, by the borrower or counterparty, of its financial obligations according to agreed terms, as well as the fall in value of any credit agreement as a result of deterioration in the risk classification of the borrower, and other losses related to any non-performance of financial obligations by the counterparty.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reinsurance policy</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Credit risk is involved in purchasing reinsurance and insurance companies must be conservative and selective when choosing their partners R</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>einsurers are registered with SUSEP, and classified as local, admitted or occasional. Reinsurers classified as admitted and occasional, headquartered abroad, must meet specific minimum requirements set forth in current legislation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The Bradesco Organization&#8217;s policy for purchasing reinsurance and approval of reinsurers are the responsibility of the executive board, observing to the minimum legal requirements and regulations, some of them aimed at minimizing the credit risk intrinsic to the operation, and considering the shareholders' equity consistent with amounts transferred. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Another important aspect of managing reinsurance operations is the fact that the Organization aims to work within its contractual capacity, thereby avoiding high credit risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Practically, the value of premiums transferred in reinsurance is relatively small in relation to total premiums written. However, almost all property damage portfolios, except automotive, are hedged by reinsurance which, in most cases, is a combination of proportional and non-proportional plans by risk and/or by event.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Currently, part of the reinsurance contracts (proportional and non-proportional) are transferred to IRB Brasil Resseguros S.A. Some admitted reinsurers participate with lower individual percentages, but all have minimum capital and rating higher than the minimum established by the Brazilian legislation, which, in management's judgment, reduces the credit risk.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Managing credit risk</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit-risk management in the Organization is a continuous and evolving process including the mapping, development, evaluation and diagnosis of existing models, instruments and procedures that requires a high level of discipline and control in the analysi of operations to preserve the integrity and independence of processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-92</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>As noted above, credit risk is managed at the corporate level using structured, independent internal procedures based on proprietary documentation and reports, duly assessed by the risk management structures of Organization, and based on the gradual deployment of internal models for the determination, measurement and calculation of capital.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Exposure to insurance credit risk</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Management believes that maximum exposure to credit risk arising from premiums to be paid by insured parties is low, since, in some cases, coverage of claims may be canceled (under Brazilian regulations), if premiums are not paid by the due date. Exposure to credit risk for premium receivables differs between risks yet to be incurred and risks incurred, since there is higher exposure on incurred-risk lines for which coverage is provided in advance of payment of the insurance premium.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization is exposed to concentrations of risk with individual reinsurance companies, due to the nature of the reinsurance market and strict layer of reinsurance companies with acceptable loan ratings. The Organization manages the exposures of its reinsurance counterparties, limiting the reinsurance companies that may be used, and regularly assessing the default impact of the reinsurance companies.</FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>4)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Estimates and judgments</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization makes estimates and judgments that can affect the reported amount of assets and liabilities within the next financial year including the assets and liabilities arising from the acquisition of HSBC Brasil. All estimates and judgments required in conformity with IFRS are best estimates undertaken in accordance with the applicable standard. Such estimates and judgments are continually evaluated and based in our historical experience and a number of other factors including future event expectations, regarded as reasonable, under the current circumstances. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The estimates and judgments that have a significant risk and might have a relevant impact on the amounts of assets and liabilities within the next financial year are disclosed below. The actual results may be different from those established by these estimates and premises.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair value of financial instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial instruments recognized at fair value in our consolidated financial statements consist primarily of financial assets held for trading, including derivatives and financial assets classified as available for sale. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participant at the management date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>These financial instruments are categorized within a hierarchy based on the lowest level of input that is significant to the fair value measurement. For instruments classified as level 3, we have to apply a significant amount of our own judgment in arriving at the fair value measurement. We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes. Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. For a detailed discussion of the determination of fair value of financial instruments, see Note 3.4.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-93</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 0in; TEXT-INDENT: 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment of financial assets available for sale</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Periodically, the existence of a reduction in the recoverable value of available-for-sale financial assets is evaluated (see Note 2(f)(viii)(b)). This determination of what is significant or prolonged requires judgment. In making this judgment, the Organization evaluates, among other factors, the volatility in share price, where such variations involve equity securities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>In addition, valuations are obtained through market prices or valuation models that require the use of certain assumptions or judgments to estimate fair value.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Allowance for impairment on loans and advances</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Periodically, the Organization reviews its portfolio of loans and advances evaluating the estimated loss for the impairment of its operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The determination of the amount of the allowance for impairment, by its nature, requires judgments and uses assumptions regarding the loan portfolio, both on a portfolio basis and on an individual basis. When we review our loan portfolio as a whole, several factors can affect our estimate of the likely range of losses, including which methodology we use in measuring historical delinquency rates and what historical period we consider in making those measurements. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Additional factors that can affect our determination of the allowance for impairment include:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>General economic conditions and conditions in the relevant industry;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Past experience with the relevant debtor or industry, including recent loss experience;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Credit quality trends;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Amounts of loan collateral;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The volume, composition and growth of our loan portfolio;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Brazilian government's monetary policy; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Any delays in the receipt of information needed to evaluate loans or to confirm existing credit deterioration.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses models to assist analysis of the loan portfolio and in determining what impairment should be made. It applies statistical loss factors and other risk indicators to loan pools with similar risk characteristics to arrive at an estimate of incurred losses in the portfolio. Although the models are frequently revised and improved, they are by nature dependent on judgment in relation to &nbsp;the information and estimates. In addition, the volatility of the Brazilian economy is one of the factors that may lead to greater uncertainty in our models than would be expected in more stable macroeconomic environments. Accordingly, our allowance for impairment may not be indicative of future charge-offs. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For a sensitivity analysis, we assess the impact of an increase in the probability of default (PD) on the allowance. In this assessment an increase in 10% of the PD on December 31, 2017, would have increased the allowance for impairment by R$ 503,667 thousand. This sensitivity analysis is hypothetical, and is only meant to illustrate the impact that the expectation of defaults have on determining the allowance for loan losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The process to determine the level of provision for losses from impairment requires estimates and the use of judgment; it is possible that actual losses presented in subsequent periods will differ from those </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-94</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>calculated according to current estimates and assumptions.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment of goodwill</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has to consider at least annually whether the current carrying value of goodwill is impaired. The first step of the process requires the identification of independent Cash-Generating Units and the allocation of goodwill to these units. The carrying amount of the CGU, including the allocated goodwill, is compared to its recoverable amount to determine whether any impairment exists. If the value in use of a cash-generating unit is less than its carrying value, goodwill will be impaired. Detailed calculations may need to be carried out taking into consideration changes in the market in which a business operates (e.g. competitive activity, regulatory change). The value in use is based upon discounting expected pre-tax cash flows at a risk-adjusted interest rate appropriate to the operating unit, the determination of both requires one to exercise one&#8217;s judgment. While forecasts are compared with actual performance and external economic data, expected cash flows naturally reflect the Organization&#8217;s view of future performance.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income tax</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The determination of the amount of our income tax liability is complex, and our assessment is related to our analysis of our deferred tax assets and liabilities and income tax payable. In general, our evaluation requires that we estimate future amounts of current and deferred taxes. Our assessment of the possibility that deferred tax assets are realized is subjective and involves assessments and assumptions that are inherently uncertain in nature. The realization of deferred tax assets is subject to changes in future tax rates and developments in our strategies. The underlying support for our assessments and assumptions could change over time as a result of unforeseen events or circumstances, affecting our determination of the amount of our tax liability.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Significant judgment is required in determining whether it is more likely than not that an income tax position will be sustained upon examination, even after the outcome of any related administrative or judicial proceedings based on technical merits. Further judgment is then required to determine the amount of benefit eligible for recognition in our consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In addition, we have monitored the interpretation of tax laws by, and decisions of, the tax authorities and Courts so that we can adjust any prior judgment of accrued income taxes. These adjustments may also result from our own income tax planning or resolution of income tax controversies, and may be material to our operating results for any given period. For additional information about income tax, see Note 17.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Technical insurance provisions</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance technical provisions (reserves) are liabilities representing estimates of the amounts that will become due at a future date, to or on behalf of our policyholders &#8211; see Note 2(o). Expectations of loss ratio, mortality, longevity, length of stay and interest rate are used. These assumptions are based on our experience and are periodically reviewed against industry standards to ensure actuarial credibility. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent liabilities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Provisions are regularly reviewed and constituted, where the loss is deemed probable, based on the opinion of the legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing. Contingencies classified as Probable Loss are recorded in the Consolidated Statements of Financial Position under "Other Provisions". </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-95</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>5)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Operating segments</FONT></B></H1>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization operates mainly in the banking and insurance segments. Our banking operations include operations in the retail, middle-market and corporate sectors, lease, international bank operations, investment bank operations and as a private bank. The Organization also conducts banking segment operations through its branches located throughout the country, in branches abroad and through subsidiaries as well as by means of shareholding interests in other companies. Additionally we are engaged in insurance, supplemental pension plans and capitalization bonds through our subsidiary, Bradesco Seguros S.A. and its subsidiaries.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The following <FONT style="FONT-SIZE: 10pt" face=Arial>segment </FONT>information&nbsp;was prepared based on reports made availabe to <FONT style="FONT-SIZE: 10pt" face=Arial>M</FONT>anagement to evaluate performance and make decisions <FONT style="FONT-SIZE: 10pt" face=Arial>regarding </FONT>to the allocation of resources for investments and other purposes. Our Management uses a variety of accounting information, which includes the proportional consolidation of affiliates and joint ventures. Accordingly, the information of the segments shown in the following tables was prepared in accordance with the specific procedures and other provisions of the Financial Institutions Accounting Plan and the total amounts, which correspond to the consolidated information, were prepared in accordance with IFRS, issued by the IASB. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main assumptions for the segmentation of income and expenses include (i) surplus cash invested by the entities operating in insurance, supplemental pension and capitalization bonds are included in this segment, resulting in an increase in net interest income; (ii) salaries and benefits and administrative costs included in the insurance, supplemental pension and capitalization bonds segment consist only of cost directly related to these operations, and (iii) costs incurred in the banking operations segment related to the infrastructure of the branch network and other general indirect expenses have not been allocated between segments.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-96</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Information by operating segment, reviewed by the Organization and corresponding to the years 2017, 2016 and 2015, is shown below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance, pension and capitalization bonds</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operations (1), adjustments and eliminations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,997,327</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,857,926</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,787,660</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,642,913</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,143,561</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>787,014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,181,747)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,748,828</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,011,351</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,641,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(29,869)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,623,108</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(685,560)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>713,425</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>542,493</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>570,358</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gain / (loss) on held-to-maturity investments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(54,520)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(54,520)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,422,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,422,957</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,239,990</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,239,990</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,694,228</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,595,041</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>512,624</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,801,893</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,895,929)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,035,094</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,860,835)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(19,261,590)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,589,077)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>127,402</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,723,265)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,175,352)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,391,439)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,684,330</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,882,461)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,555,033)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(393,618)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,380,083</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,568,568)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,282,411)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(889,065)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,119</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,133,357)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating expense</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(69,170,315)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,263,199)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,265,028</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(69,168,486)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes and share of profit of associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,664,801</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,976,782</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,383,565</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,025,148</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,497,268</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>217,035</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,108</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,718,411</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,162,069</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,193,817</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,387,673</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,743,559</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(887,289)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,156,153)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,385,514)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,428,956)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,274,780</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,037,664</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,002,159</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,314,603</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to controlling shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,272,962</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,812,425</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,003,977</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,089,364</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,818</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,818)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>225,239</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>988,063,541</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>295,699,951</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(59,410,052)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,224,353,440</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investments in associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,364,246</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,847,099</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,039</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>875,887,257</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>257,329,282</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,556,803)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,106,659,736</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-97</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance, pension and capitalization bonds</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operations (1), adjustments and eliminations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,156,109</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,374,229</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,132,651</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,662,989</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,696,785</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>651,482</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,007,216)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,341,051</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,918,934</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,250,639</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>233,197</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,402,770</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,417,647)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>805,051</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(728,804)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,341,400)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>150,757</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>150,757</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,155,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,155,763</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,652,044</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,211,453</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(495,607)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,367,890</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,829,460)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,479,182</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(15,350,278)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(15,733,611)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,387,935)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,003,783)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,979,689)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,331,349)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>161,475</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,149,563)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,786,599)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(365,656)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>493,842</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,658,413)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,421,152)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>243,631</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>173,359</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,004,162)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating expense</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(67,750,511)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,841,309)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,425,621</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(66,166,199)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes and Share of profit of associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,754,427</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,395,855</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,055,449</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,205,731</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,538,058</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>168,691</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,024)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,699,725</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,292,485</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,564,546</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,048,425</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,905,456</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,995,420)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,915,822)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,001,488)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,912,730)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,297,065</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,648,724</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,046,937</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,992,726</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to controlling shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,293,766</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,550,662</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,049,821</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,894,249</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,299</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,062</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,884)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>98,477</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>921,916,290</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>266,642,197</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,471,169</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,192,029,656</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investments in associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,512,372</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,416,617</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,789</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>821,182,152</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>266,143,979</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(775,682)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,086,550,449</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-98</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year ended December 31, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance, pension and capitalization bonds</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operations (1), adjustments and eliminations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,934,849</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,973,694</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,727,499</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,636,042</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,195,003</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,497,890</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,872,223)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,820,670</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,199,397)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(627,343)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(425,315)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,252,055)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(370,947)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(353,679)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,816</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(671,810)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net gains/(losses) on foreign currency transactions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,523,095)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,523,095)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income from insurance and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,496,147</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,358</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,497,505</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,093,439)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,515,125</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(371,141)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,949,455)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,479,985)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,758,833</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,721,152)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Personnel expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,103,515)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,217,211)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,679</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,058,047)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,076,913)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,137,706)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>492,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,721,970)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Depreciation and amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,752,946)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(321,462)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,405</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,942,003)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,726,387)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(963,525)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(298,641)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12,988,553)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other operating expense</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(57,139,746)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,639,904)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,347,925</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(58,431,725)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes and Share of profit of associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,103,333)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,346,805</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,832,060</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,075,532</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Share of profit of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,358,047</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>166,865</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,139</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,528,051</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income before income taxes</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(745,286)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,513,670</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,835,199</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,603,583</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax and social contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,621,169</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,192,918)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(793,929)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,634,322</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income for the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,875,883</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,320,752</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,041,270</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,237,905</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to controlling shareholders</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,874,609</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,215,765</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,042,532</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,132,906</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Attributable to non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,274</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,987</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,262)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>104,999</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>894,579,942</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>209,789,872</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(77,666,292)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,026,703,522</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investments in associates and joint ventures</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,479,642</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,255,326</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,357</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,815,325</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>804,576,173</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>188,809,573</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(57,596,986)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>935,788,760</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 46.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Our operations are substantially conducted in Brazil. Additionally, as of December 31, 2017, we have a branch in New York, one branch in Grand Cayman, and one branch in London, mainly to complement our banking services and assist in import and export operations for Brazilian customers. Moreover we also have subsidiaries abroad, namely: Banco Bradesco Argentina S.A. (Buenos Aires), Banco Bradesco Europe S.A. (Luxembourg), Bradesco North America LLC (New York), Bradesco Securities, Inc. (New York), Bradesco Securities UK Limited (London), Cidade Capital Markets Ltd. (Grand Cayman), Bradesco Securities Hong Kong Limited (Hong Kong), Bradesco Trade Services Limited (Hong Kong) and Bradescard Mexico, Sociedad de Responsabilidad Limitada (Mexico).</FONT></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>No income from transactions with a single customer or counterparty abroad represented 10% of the Organization&#8217;s income in the period of 2017, 2016 and 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All transactions between operating segments are conducted on an arm's length basis, with intra-segment revenue and costs being eliminated in "Other operations, adjustments and eliminations". Income and expenses directly associated with each segment are included in determining business-segment performance.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-99</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>6)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net interest income</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest and similar income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,073,435</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,689,348</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,349,194</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loans and advances to customers:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>64,767,081</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>69,530,396</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,472,012</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Leasing transactions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>254,009</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>343,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>444,502</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- For trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,684,574</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,576,526</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,982,927</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Available for sale</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,351,320</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,572,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,629,493</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Held to maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,883,103</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,514,933</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,253,616</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Pledged as collateral</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,268,934</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,739,202</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,270,191</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Compulsory deposits with the Central Bank</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,881,319</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,667,516</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,587,412</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other financial interest income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>68,553</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>66,210</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>58,905</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>126,232,328</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>147,700,375</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>127,048,252</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest and similar expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Deposits from banks:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Interbank deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(152,550)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(127,617)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(74,814)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Funding in the open market</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(22,564,515)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(26,767,039)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(23,509,785)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Borrowings and onlending</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,068,552)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,865,411)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,092,184)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Deposits from customers:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Savings accounts</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,730,457)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,712,509)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,450,258)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>- Time deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,536,161)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,746,203)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,942,386)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,262,613)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,124,502)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,570,606)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subordinated debt</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,100,017)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,298,555)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,669,830)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance technical provisions and pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,174,550)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,395,550)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,102,347)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(75,589,415)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(91,037,386)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(71,412,210)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net interest income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,642,913</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,662,989</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,636,042</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

<a name="_bclFooter307"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-100</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_308"></A>

<a name="_bclHeader308"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>7)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net fee and commission income</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fee and commission income</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Credit cards</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,848,855</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,251,963</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,875,029</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Current accounts</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,652,711</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,030,640</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,941,947</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Collections</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,965,601</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,777,515</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,573,818</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Guarantees</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,570,522</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,438,409</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,265,356</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Asset management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,463,469</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,079,653</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,054,424</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Consortium management</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,526,660</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,278,753</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,040,109</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Custody and brokerage services</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>754,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>618,750</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>556,701</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Underwriting</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>801,219</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>733,530</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>540,879</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>409,267</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>373,639</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>382,427</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>755,558</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>758,235</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>626,183</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,748,828</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,341,087</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,856,873</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fee and commission expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial system services</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36,203)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36,203)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net fee and commission income</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,748,828</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,341,051</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,820,670</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>8)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net gains/(losses) on financial instruments classified as held for trading</FONT></B></H1>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fixed income securities</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,862,617</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,654,959</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,174,739)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,426,160)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,887,800</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,267,748)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,186,651</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>860,011</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,190,432</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,623,108</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,402,770</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,252,055)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>9)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net gains/(losses) on financial instruments classified as available for sale</FONT></B></H1>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fixed income securities (1)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,963</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,918,595)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(346,032)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity securities (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>437,054</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>459,223</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(577,401)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Dividends received</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,341</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,972</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>251,623</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>570,358</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,341,400)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(671,810)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 39.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 39.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 39.3pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>10)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net gains/(losses) on foreign currency transactions </FONT></B></H1>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Net gains and losses on foreign currency transactions primarily consists of gains or losses from currency trading and translation of monetary items from a foreign currency into the functional currency. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</H1>

<P>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-101</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_109"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>11)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Net income from insurance and pension plans</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Written premiums</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>65,864,591</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,470,571</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,920,681</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Supplemental pension plan contributions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,090,043</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,679,922</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,795,219</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Granted coinsurance premiums</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(49,715)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(70,862)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(88,612)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Refunded premiums</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(667,196)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(746,244)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(522,309)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net written premiums earned</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,237,723</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>65,333,387</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,104,979</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Reinsurance premiums paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(191,088)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(306,265)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(344,199)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Premiums retained from insurance and pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,046,635</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>65,027,122</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>58,760,780</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Changes in the provision for insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,435,868)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(29,729,884)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,528,076)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Changes in the provision for private pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,369,903)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,052,034)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,757,963)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Changes in the technical</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif> provisions for insurance and pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(34,805,771)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(32,781,918)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28,286,039)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Reported indemnities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,924,687)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,877,804)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,658,594)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Claims expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(36,068)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(119,201)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(69,599)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovery of ceded coinsurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,332</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>65,285</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,053</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovery of reinsurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>116,913</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>141,711</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>407,195</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Salvage recoveries</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>488,057</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>451,930</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>402,718</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Changes in the IBNR provision</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(274,509)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(204,354)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(892,816)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Retained claims</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,594,962)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,542,433)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,724,043)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Commissions on premiums</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,700,131)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,696,002)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,985,426)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovery of commissions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,334</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,927</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,700</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fees</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(403,835)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(489,279)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,201,216)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brokerage expenses - private pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(153,552)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(167,654)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(188,037)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Changes in deferred commissions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(167,728)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(224,000)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>99,786</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Selling expenses for insurance and pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,405,912)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,547,008)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,253,193)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net income from insurance and pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,239,990</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,155,763</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,497,505</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>12)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Impairment of loans and advances</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loans and receivables:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment losses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(25,780,383)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(22,357,042)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(19,527,976)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovery of credits charged-off as losses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,034,857</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,507,507</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,144,879</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Reversal of impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,884,691</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,499,257</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>661,945</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,860,835)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(15,350,278)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,721,152)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-102</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>13)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Personnel expenses</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Salaries</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,170,556)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,236,617)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,369,727)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Benefits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,385,133)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,625,796)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,994,155)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Social security charges</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,505,290)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,862,067)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,402,112)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Employee profit sharing</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,572,472)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,451,310)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,304,958)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Provision for labor claims</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(927,136)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(663,124)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(853,660)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Training</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(162,678)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(164,869)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(133,435)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total <FONT style="FONT-SIZE: 8pt" face=Arial>(1)</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,723,265)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(17,003,783)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,058,047)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 17.85pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Includes the effects of the Special Voluntary Termination Plan (Note 43).</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><A name="_Toc284885092"></A><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>14)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Other administrative expenses</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Outsourced services</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,748,308)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,871,194)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,139,058)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Communication</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,684,153)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,653,055)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,427,685)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Data processing</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,117,085)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,612,454)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,222,433)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Advertising and marketing</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(942,851)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,124,659)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(963,308)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Asset maintenance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,158,840)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,060,856)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(926,001)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial system</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,033,017)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,047,618)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(830,199)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Rental</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,142,166)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,027,561)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(887,412)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Security and surveillance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(818,221)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(736,547)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(606,292)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transport</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(782,444)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(719,842)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(631,085)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Water, electricity and gas</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(405,515)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(384,069)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(339,267)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Advances to FGC (Deposit Guarantee Association)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(418,670)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(355,540)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(303,094)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Supplies</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(263,527)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(321,509)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(315,135)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Travel</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(261,911)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(174,772)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(157,723)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,105,753)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,059,887)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(973,278)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,882,461)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(16,149,563)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,721,970)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><A name="_Toc284885093"></A><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>15)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Depreciation and amortization</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortization expenses</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,331,240)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,516,777)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,884,281)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Depreciation expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,237,328)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,141,636)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,057,722)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,568,568)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,658,413)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,942,003)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<a name="_bclFooter310"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-103</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></DIV>

&nbsp; <A name="page_111"></A>

<a name="_bclHeader311"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>16)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Other operating income/(expenses)</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tax expenses</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,960,618)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,331,651)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,791,754)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Legal provision</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,238,057)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,927,734)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,439,460)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Variation in monetary liabilities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,710</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(699,719)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(597,240)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income from sales of non-current assets, investments, and property and equipment, net</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(412,957)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(467,042)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(277,232)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,553,435)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,578,016)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,882,867)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,133,357)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,004,162)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12,988,553)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 &#8211; R$ 487,269 thousand (2016 - R$&nbsp;(484,227) thousand and 2015 &#8211; R$ 570,835 thousand); (ii) impairment losses in the amount of 2017 &#8211; R$ 185,188 thousand (2016 &#8211; R$ 31,256 thousand and 2015 &#8211; R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 &#8211; R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 &#8211; R$ 1,281,381 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>17)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Income tax and social contribution</FONT></B></H1>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Calculation of income tax and social contribution charges</FONT></B></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income before income tax and social contribution</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,743,559</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,905,456</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,603,583</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total burden of income tax and social contribution at the current rates (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(10,684,602)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,357,455)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,321,612)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect of additions and exclusions in the tax calculation:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Earnings (losses) of associates and joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>773,285</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>764,876</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>687,623</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest on shareholders&#8217; equity (paid and payable)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,241,955</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,139,102</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,305,695</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net tax credit of deferred liabilities (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,341,220</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other amounts (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>240,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,459,253)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,621,396</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution for the period</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,428,956)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,912,730)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,634,322</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effective rate</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27.1%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-89.9%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt 56.7pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 106%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law n&#186;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif> 13,169/15; and (iii) of 9% for the other companies (Note 2w);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt 56.7pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 106%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>13,169/15; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt 56.7pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 106%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 106%" color=black face=arial,sans-serif>Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-104</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Composition of income tax and social contribution in the consolidated statement of income</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current taxes:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution payable</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,788,060)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,852,947)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,075,948)</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred taxes:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net Addition/(realization) of temporary differences</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,950,961</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,106,008)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,424,595</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Use of opening balances of:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Social contribution loss</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(430,584)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(647,282)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(127,214)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax loss</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(331,512)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(879,276)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(65,224)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Addition on:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Social contribution loss</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>150,371</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>234,730</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>272,793</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax loss</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,868</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>338,053</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>731,419</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Activation of the tax credit &#8211; Law No. 13,169/15:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Social contribution loss</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>422,853</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Temporary additions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,051,048</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total deferred tax expense</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,359,104</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,059,783)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,710,270</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,428,956)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,912,730)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,634,322</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred income tax and social contribution presented in the consolidated statement of financial position</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amount recorded</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Realized / Decrease (4)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Provisions of impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,011,653</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,264,028</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,771,818</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,503,863</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Provision for contingencies</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,351,234</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,782,500</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,907,251</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,226,483</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment to market value of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,488,482</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,724,016</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,268,623</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,943,875</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,681,457</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,773,082</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,644,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,809,566</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total tax assets on temporary differences (3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,532,826</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,543,626</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,592,665</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,483,787</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution losses in Brazil and abroad (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,595,729</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>170,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>762,096</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,003,872</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment to market value of available for sale (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>493,168</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>576,732</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,069,900</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total deferred tax assets (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,621,723</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,290,597</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,424,661</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,487,659</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred tax liabilities (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,267,808</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,557,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>817,831</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,007,595</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net deferred taxes (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,353,915</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,732,979</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,606,830</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,480,064</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>105</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_113"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance originating from an acquired institution (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amount recorded</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Realized / Decrease</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Provisions of impairment of loans and advances</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,617,097</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,938,976</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,948,736</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,493,156</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,011,653</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Provision for contingencies</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,720,598</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,209,685</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,498,218</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,077,267</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,351,234</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment to market value of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,090,939</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>109,501</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>282,741</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,994,699</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,488,482</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,511,581</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>440,457</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,135,635</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,406,216</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,681,457</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total tax assets on temporary differences (3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,940,215</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,698,619</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,865,330</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,971,338</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,532,826</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income tax and social contribution losses in Brazil and abroad (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,761,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>787,878</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>572,783</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,526,558</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,595,729</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Adjustment to market value of available for sale (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,704,484</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,120</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>393,369</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,636,805</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>493,168</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Social contribution - MP 2,158-35 (change in tax law)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,783</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,783</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total deferred tax assets (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,520,108</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,518,617</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,831,482</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,248,484</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,621,723</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred tax liabilities (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,894,367</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,592</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,920,479</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,550,630</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,267,808</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net deferred taxes (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,625,741</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,515,025</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,911,003</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,697,854</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,353,915</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 55.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>HSBC Brasil (Note 2a);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 55.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 55.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>Deferred t</FONT>ax&nbsp;assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 55.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif>Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Temporary differences</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax and social contribution losses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Social contribution</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Social contribution</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2018</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,189,592</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,778,522</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>157,668</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>303,794</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,429,576</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,106,611</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,500,573</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>143,705</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>80,058</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,830,947</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,444,841</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,163,487</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>139,825</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>78,361</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,826,514</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2021</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,408,140</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,609,808</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>620,279</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,041</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,005,268</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2022</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,534,237</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,470,379</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>732,490</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>478,318</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,215,424</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>After 2022</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,100,881</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,176,716</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>824,042</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,078,291</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,179,930</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,784,302</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,699,485</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,618,009</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,385,863</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,487,659</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-106</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>e)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deferred tax liabilities</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Timing differences of depreciation &#8211; finance leasing</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>283,232</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>381,119</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Adjustment to market value of securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,215,588</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>213,404</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Judicial deposit and others</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,508,775</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,673,285</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,007,595</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,267,808</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The deferred tax liabilities of companies in the financial and insurance sectors were established considering the increased social contribution rate, established by Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>&nbsp;11,727/08 and Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>&nbsp;13,169/15 (Note 2x).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>f)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Income tax and social contribution on adjustments recognized directly in equity</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="85%" colSpan=9>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Before tax</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tax (expense)/ benefit</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net of tax</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Before tax</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tax (expense)/ benefit</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net of tax</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Before tax</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tax (expense)/ benefit</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net of tax</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets recorded as available for sale</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,418,567</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,231,202)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,187,365</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,298,103</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,587,076)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,711,027</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(5,677,902)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,273,982</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(3,403,920)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Exchange differences on translations of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,992</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,002</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(194,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,555</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(107,011)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>118,485</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(57,788)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>60,697</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,441,577</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,225,210)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,216,367</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,103,537</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,499,521)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,604,016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(5,559,417)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,216,194</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(3,343,223)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT style="FONT-SIZE: 10pt" face=Arial>g</FONT>)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Taxes to be offset </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Refers basically to amount of income tax and social contribution to be offset.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><STRONG><FONT size=2 face=Arial></FONT></STRONG>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>18)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Earnings per share</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>1.</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Basic earnings per share</FONT></B></H1>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: 0in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The calculation of basic earnings per share was calculated based on the weighted average number of common and preferred shares outstanding, as shown in the calculations below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016 (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015 (1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net earnings attributable to the Organization&#8217;s common shareholders (R$ thousand)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,157,920</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,542,147</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,652,905</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net earnings attributable to the Organization&#8217;s&nbsp; preferred shareholders (R$ thousand)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,931,444</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>9,352,102</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>9,480,001</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Weighted average number of common shares outstanding (thousands)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,049,991</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,049,991</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,050,156</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Weighted average number of preferred shares outstanding (thousands)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,035,625</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,035,625</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,037,917</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Basic earnings per share attributable to common shareholders of the Organization (in Reais)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.67</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.80</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.84</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Basic earnings per share attributable to preferred shareholders of the Organization (in Reais)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.94</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3.08</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3.12</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.45pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&#8217; Meeting&nbsp; of March 10, 2017, in the proportion of one new share for every 10 shares held.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>2.</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Diluted earnings per share</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Diluted earnings per share are the same as basic earnings per share since there are no potentially dilutive instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt">&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-107</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_115"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>19)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Cash and cash equivalents</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>a) Cash and balances with banks</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cash and due from banks in domestic currency</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,939,852</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,432,290</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cash and due from banks in foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,088,498</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,085,650</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Compulsory deposits with the Central Bank (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>66,714,226</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>58,036,531</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>375</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>180</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,742,951</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>72,554,651</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>b) Cash and cash equivalents</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cash and due from banks in domestic currency</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,939,852</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,432,290</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cash and due from banks in foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,088,498</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,085,650</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interbank investments (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>141,025,717</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>166,712,307</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>375</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>180</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>156,054,442</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>181,230,427</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.3pt 0pt 49.65pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 &#8211; R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 &#8211; R$ 81,983,717 thousand) as Loans and advances to banks.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0.3pt 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>20)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Financial assets and liabilities held for trading</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a) Financial assets held for trading</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial assets</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>202,249,272</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>161,103,399</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,348,269</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,600,127</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt and marketable equity securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,339,790</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,383,682</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Mutual funds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,377,508</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,303,781</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>307</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,358,025</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign governments securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>528,010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>635,390</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,866,885</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,755,442</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,710,041</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>213,139,846</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Maturity</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Maturity of up to one year</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,617,538</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,002,911</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Maturity of one to five years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>146,527,365</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>134,589,655</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Maturity of five to 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,763,561</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,299,698</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Maturity of over 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,409,723</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,537,358</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Maturity not stated</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,391,854</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,710,224</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,710,041</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>213,139,846</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-108</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_316"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial instruments provided as collateral and classified as "held for trading&#8221;, totaled R$ 801,182&nbsp;&nbsp; thousand and R$ 6,282,141 thousand in 2017 and December 2016, respectively, as disclosed in Note 23 "Financial assets pledged as collateral&#8221;. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The total assets held for trading pledged as a guarantee of liabilities was R$ 5,874,620 thousand (December 2016 &#8211; R$&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>5,846,093</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Unrealized gains/(losses) on securities and trading securities totaled R$ (4,745,888) thousand in 2017 (2016 &#8211; R$ (9,404,052) thousand and 2015 &#8211; R$ R$ 7,425,562 thousand). Net variation in unrealized gains/(losses) from securities and trading securities totaled R$ (4,658,164) thousand in 2017 (2016 - R$ (1,978,490) thousand and 2015 - R$ (8,303,360) thousand). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b) Financial liabilities held for trading</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Derivative financial instruments</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,274,999</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,435,678</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,274,999</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,435,678</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>c) Derivative financial instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization enters into&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>transactions</FONT> involving derivative financial instruments with a number of customers for the purpose of mitigating their overall risk exposure as well as managing risk exposure. The derivative financial instruments most often used are highly-liquid instruments traded on the futures market (B3).</FONT></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(i)&nbsp;&nbsp;&nbsp; Swap contracts</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign currency and interest rate swaps are agreements to exchange one set of cash flows for another and result in an economic exchange of foreign currencies or interest rates (for example fixed or variable) or in combinations (i.e. foreign currency and interest rate swaps). There is no exchange of the principal except in certain foreign currency swaps. The Organization&#8217;s foreign currency risk reflects the potential cost of replacing swap contracts and whether the counterparties fail to comply with their obligations. This risk is continually monitored in relation to the current fair value, the proportion of the notional value of the contracts and the market liquidity. The Organization, to control the level of credit risk assumed, evaluates the counterparties of the contracts using the same techniques used in its loan operations.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;(ii)&nbsp; Foreign exchange options</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign exchange options are contracts according to which the seller (option issuer) gives to the buyer (option holder) the right, but not the obligation, to buy (call option) or sell (put option) on a certain date or during a certain period, a specific value in foreign currency. The seller receives from the buyer a premium for assuming the exchange or interest-rate risk. The options can be arranged between the Organization and a customer. The Organization is exposed to credit risk only on purchased options and only for the carrying amount, which is the fair market value.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(iii)&nbsp; Foreign currency and interest rate futures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Foreign currency and interest rate futures are contractual obligations for the payment or receipt of a net amount based on changes in foreign exchange and interest rates or the purchase or sale of a </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>financial instrument on a future date at a specific price, established by an organized financial market. The credit risk is minimal, since the future contracts are guaranteed in cash or securities and changes in the value of the contracts are settled on a daily basis. Contracts with a forward rate are interest-rate futures operations traded individually which require settlement of the difference between the contracted rate and the current market rate over the value of the principal to be paid in cash at a future date.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-109</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 49.65pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(iv)&nbsp; Forward <FONT style="FONT-SIZE: 10pt" face=Arial>transactions</FONT></FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>A forward operation is a contract of purchase or sale, at a fixed price, for settlement on a certain date. Because it is a futures market, in which the purchase of the share will only be made on the date of maturity, a margin deposit is necessary to guarantee the contract. This margin can be in cash or in securities. The value of the margin varies during the contract according to the variation of the share involved in the operation, to the changes of volatility and liquidity, besides the possible additional margins that the broker could request.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-110</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading by the Organization is as follows:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Notional amounts</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Asset/(liability)</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Futures contracts</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Interest rate futures</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,081,180</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>111,026,397</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,586</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>9,022</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,837,699</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>94,677,587</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(154,188)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(19,163)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; In foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,376,597</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,399,904</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,243</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>67,238,635</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>58,690,018</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,003)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>163,224</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>48,291</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>162</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,772</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(114)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Options</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Interest rates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,663,668</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,467,042</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>101,214</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>260,565</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,616,129</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,755,788</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(535,748)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(193,768)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; In foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,335,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,567,515</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>605,028</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>57,533</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,274,094</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,836,294</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(409,587)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(62,356)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>443,443</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,500</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,013</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,708</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>228,141</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,188)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(6,533)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Forward operations</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; In foreign currency</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,372,477</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>16,633,033</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>218,019</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,599,401</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,947,271</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,036,706</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(358,995)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,088,041)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Purchases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>48,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>497,987</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,586,061</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sales</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>635,522</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,588,245</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(147,138)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,581,169)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Swap contracts</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Asset position</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest rate swaps</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,636,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>72,297,999</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,065,095</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,799,949</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Currency swaps</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,161,641</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,276,143</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,340,538</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,645,707</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp; Liability position</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest rate swaps</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,454,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>36,746,464</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(11,030,003)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(3,718,282)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Currency swaps</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,288,568</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,201,872</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,618,035)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(6,766,366)</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Swaps are contracts of interest rates, foreign currency and cross currency and interest rates in which payments of interest or the principal or in one or two different currencies are exchanged for a contractual period. The risks of swap contracts refer to the potential inability or unwillingness of the counterparties to comply with the contractual terms and the risk associated with changes in market conditions due to changes in the interest rates and the currency exchange rates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The interest rate and currency futures and the forward contracts of interest rates call for subsequent delivery of an instrument at a specific price or specific profitability. The reference values constitute a nominal value of the respective instrument whose variations in price are settled daily. The credit risk </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-111</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>associated with futures contracts is minimized due to these daily settlements. Futures contracts are also subject to risk of changes in interest rates or in the value of the respective instruments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has the following economic hedging <FONT style="FONT-SIZE: 10pt" face=Arial>transactions</FONT>:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Fair-value hedge of interest-rate risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses interest-rate swaps to protect its exposure to changes in the fair value of its fixed income issuances and certain loans and advances. The interest rate swaps are matched with specific issuances or fixed-income loans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Cash-flow hedge of debt securities issued in foreign currency</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses interest-rate swaps in foreign currencies to protect itself against exchange and interest-rate risks arising from the issuance of floating rate debt securities denominated in foreign currencies. The cash flows of foreign-currency interest-rate swaps are compatible with the cash flows of the floating rate debt securities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Market risk hedge </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The gains and losses, realized or not, of the financial instruments classified in this category, are recorded in the Statement of Income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Hedge of net foreign investments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses a combination of forward exchange contracts and foreign currency denominated debt to mitigate the exchange-rate risk of its net investments in subsidiaries abroad.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The fair value of forward contracts used to protect the net investments in foreign subsidiaries is shown in the previous table. Foreign currency denominated debts used to protect net investments of the Organization in subsidiaries abroad act as a natural hedge of the foreign currency risk and are included in funds from securities issuances (Note 33).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other derivatives designated as hedges</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization uses this category of instruments to manage its exposure to currency, interest rate, equity market and credit risks. Instruments used include interest-rate swaps, interest-rate swaps in foreign currency, forward contracts, futures, options, credit swaps and stock swaps. The fair value of these derivatives are presented in the previous table.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Unobservable gains on initial recognition</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>When the valuation depends on unobservable data any initial gain or loss on financial instruments is deferred over the life of the contract or until the instrument is redeemed, transferred, sold or the fair value becomes observable. All derivatives which are part of the hedge relationships are valued on the basis of observable market data.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>nominal</FONT> values do not reflect the actual risk assumed by the Organization, since the net position of these financial instruments arises from compensation and/or combination thereof. The net position is used by the Organization especially to protect interest rates, the price of </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-112</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>the underlying assets or exchange risk. The result of these financial instruments are recognized in &#8220;Net gains and losses of financial assets held for trading&#8221;, in the consolidated statement of income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>21)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Financial assets available for sale</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Gross unrealized gains</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Gross unrealized losses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>101,822,760</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,881,077</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(422,079)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,281,758</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,875,928</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>836,715</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,734,013)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,978,630</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,251,066</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>169,142</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(236,355)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,183,853</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>719,494</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,326</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,693)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>728,127</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign governments securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,210,554</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>175</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,182)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,202,547</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Marketable equity securities and other stocks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,302,834</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>620,896</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(885,923)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,037,807</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,182,636</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,535,331</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,305,245)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,412,722</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>58,484,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,323,156</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(609,193)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,198,028</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,821,686</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,011,275</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,690,253)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>42,142,708</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,626,211</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>121,745</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(188,913)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,559,043</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>395,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,319</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,731)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>401,214</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Marketable equity securities and other stocks</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,966,872</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>389,291</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(538,602)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,817,561</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,294,460</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,852,786</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,028,692)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,118,554</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Maturity</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="47%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Due within one year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,635,369</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,167,067</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,690,168</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,905,872</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 1 to 5 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,579,399</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>83,816,085</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,071,806</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,251,675</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 5 to 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,004,079</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,363,350</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,677,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,994,970</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Over 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,660,955</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,028,413</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,888,549</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,148,476</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>No stated maturity</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,302,834</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,037,807</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,966,872</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,817,561</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,182,636</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,412,722</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>114,294,460</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>113,118,554</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Financial instruments pledged as collateral and classified as available for sale, totaled R$ 59,482,796</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>thousand and R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>64,275,415 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>thousand in 2017 and 2016, respectively, as disclosed in Note 23 "Financial Assets Pledged as Collateral".</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>In 2017, the Organization maintained a total of R$ 4,391,259 thousand (2016 &#8211; R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>5,517,516 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>thousand) financial assets available for sale pledged as a guarantee for liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>We have applied our policy for impairment testing described in Note 2(f)(viii)(b) and in 2017 there was objective evidence of loss registered in financial assets available for sale in the amount of R$ 1,729,039 thousand in 2017 (2016 - R$&nbsp;2,106,107 thousand and 2015 - R$ 424,522 thousand), included in Note 9.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-113</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>22)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Investments held to maturity</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Gross unrealized gains</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Gross unrealized losses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,738,940</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,442,844</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(6,489)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,175,295</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,259,564</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>126,092</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(421,874)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,963,782</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,614</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(420)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,194</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,006,118</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,568,936</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(428,783)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,146,271</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,241,947</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,918,273</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(306,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,853,654</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,739,187</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,750</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,388,614)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,379,323</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,894</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>878</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,772</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,002,028</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,947,901</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,695,180)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,254,749</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Maturity</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="27%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31, 2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amortized cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fair value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Due within one year</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,412</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,998</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 1 to 5 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,284,940</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,070,179</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,932,440</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,133,746</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 5 to 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,933,866</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,840,428</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,068,980</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,905,497</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Over 10 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,757,900</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,206,666</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,000,608</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,215,506</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,006,118</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,146,271</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>43,002,028</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,254,749</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Financial instruments pledged as collateral and classified as held to maturity, totaled R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>431 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>thousand in 2016, as disclosed in Note 23 - "Assets Pledged as Collateral".</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>In 2017, the Organization maintained a total of R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2,005</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif> thousand (R$1,825 thousand in 2016) as investments held to maturity&nbsp;&nbsp; pledged as a guarantee for liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>We applied our Impairment policy, described in Note 2(f)(viii)(b), and in 2017 there was objective evidence of loss in our investments held to maturity in the amount of R$ 54,520 thousand.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-114</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>23)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Financial assets pledged as collateral</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Held for trading</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>801,182</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,282,141</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>801,182</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,282,141</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Available for sale (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,482,796</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>64,275,415</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,039,884</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>55,530,423</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Corporate debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>825,287</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,899,878</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Bank debt securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,904,070</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,742,273</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian sovereign bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>713,555</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>102,841</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Held to maturity</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>431</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Brazilian government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>431</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loans and advances to banks</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interbank investments (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>123,691,195</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>84,728,590</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>183,975,173</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>155,286,577</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0pt 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$&nbsp;557,974 &nbsp;thousand (2016 - R$ 1,443,642 thousand); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0pt 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Refers to reverse repurchase agreements in which the underlying security has subsequently been sold &nbsp;in a separate repurchase agreement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied with. In these agreements, the amount of R$ 178,964,158 thousand (2016 &#8211; R$&nbsp;147,673,043 thousand) may be repledged and R$ 5,011,015 thousand (2016 &#8211; R$ 7,613,534 thousand), sold or repledged.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>24)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Loans and advances to banks</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Repurchase agreements</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,045,591</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>85,178,146</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loans to financial institutions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,207,614</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,667,388</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,481)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,398)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,247,724</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>94,838,136</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

<a name="_bclFooter322"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-115</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_123"></A>

<a name="_bclHeader323"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>25)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Loans and advances to customers</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt 14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Working capital</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,700,584</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,390,890</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Personal credit (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,570,146</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,255,740</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Housing loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,963,375</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,458,038</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financing and export</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,272,982</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,983,307</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Onlending BNDES/Finame</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,655,666</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,816,560</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Credit card</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,568,984</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,407,733</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Vehicle loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,741,298</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,699,948</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Rural loans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,642,478</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,422,799</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Import</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,318,042</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,140,346</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Overdraft for corporates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,587,239</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,583,285</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Receivable insurance premiums</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,301,472</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,517,932</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Overdraft for individuals</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,582,020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,209,637</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Leasing</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,249,859</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,738,611</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,659,520</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,459,047</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total portfolio</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>373,813,665</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,083,873</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(27,055,566)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,780,839)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total of net loans and advances to customers</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>346,758,099</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>367,303,034</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 46.35pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 &#8211; R$ 38,804,196 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 46.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Allowance for loans and advances to customers</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,780,839</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,455,204</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment of loans and advances</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,860,835</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,350,278</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovery of credits charged-off as losses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,034,857</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,507,507</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,620,965)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,532,150)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,055,566</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,780,839</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Finance lease receivables</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt; TEXT-INDENT: -7.05pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Loans and advances to customers include the following finance lease receivables.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Gross investments in financial leases receivable:</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Up to one year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,118,286</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,418,546</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From one to five years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,082,149</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,279,347</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Over five years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,424</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,718</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Impairment loss on finance leases</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(146,812)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(186,594)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net investment</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,103,047</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,552,017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net investments in finance leases:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Up to one year</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,034,188</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,300,659</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From one to five years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,021,089</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,212,322</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Over five years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,770</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>39,036</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,103,047</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,552,017</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt">&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-116</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_324"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>26)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Non-current assets held for sale</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets not for own use</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Real estate</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,250,380</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,262,126</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Vehicles and similar</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,774</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>308,357</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Machinery and equipment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,037</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,529</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,782</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,954</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,520,973</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,578,966</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The properties or other non-current assets received in total or partial settlement of the payment obligations of debtors are considered as non-operating assets held for sale in auctions, which normally occur in up to one year. Therefore, non-current assets held for sale include the book value of the items the Organization intends to sell, which in their current condition is highly probable and expected to occur within a year.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-117</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>27)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Investments in associates and joint ventures</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Breakdown of investments in associates and joint ventures</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Companies</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" colSpan=10>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity interest</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholding interest with voting rights</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investment book value</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity in net income (loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Revenue (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures net income (loss) for the year</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cielo S.A. (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,832,660</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,219,202</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>76,403,596</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,151,540</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>71,020,292</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,833,491</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,561,394</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,056,077</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>IRB - Brasil Resseguros S.A. (3) (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>15.23%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>15.23%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>543,025</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>182,432</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,512,491</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,124,173</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,138,711</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>947,514</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,550,438</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,197,846</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fleury S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (6)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.28%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.28%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>692,380</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>46,791</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,389,026</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,224,500</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>615,510</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,263,331</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,609,717</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>287,414</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Aquarius Participa&#231;&#245;es S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>263,630</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>116,070</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>242,617</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>532,707</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>237,305</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>38</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>236,878</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Haitong Banco de Investimento do Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>105,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(22,637)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,588,848</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,283,453</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,565,394</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>726,468</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,432,770</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(113,185)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>118,781</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>16,530</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>285,871</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>118,394</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>33,305</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,320</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>61,185</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>39,498</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (9)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>46,039</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,108</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>221,809</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>28,788</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>141,520</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,270</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,384</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tecnologia Banc&#225;ria S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24.32%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24.32%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>108,752</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,209</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>242,480</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>75,702</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>590,872</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>496,090</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,534,235</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41,973</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Swiss Re Corporate Solutions Brasil (Nota 43-<FONT style="FONT-SIZE: 8pt" face=Arial>5</FONT>) (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>40.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>40.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>463,400</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(26,437)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,178,209</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,511,924</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,411,600</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>437,278</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>490,079</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(66,093)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Gestora de Intelig&#234;ncia de Cr&#233;dito S.A. (Nota 43-<FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT>) (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>29,513</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(4,642)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>118,961</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>43,253</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,594</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(23,210)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,129</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,361</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in associates</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,210,958</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,543,987</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,183,908</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,094,434</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>88,773,103</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,712,492</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,241,126</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,665,582</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Elo Participa&#231;&#245;es S.A. (10)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>978,195</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>162,070</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>420,804</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,776,837</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>96,763</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,708</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>324,075</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>68,231</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>12,393</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>339,236</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>119,406</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>324,764</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>161,107</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24,786</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>MPO - Processadora de Pagamentos M&#243;veis S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(39)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,198</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,612</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,881</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>227</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(78)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in joint ventures</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,046,426</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>174,424</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>762,238</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,897,855</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>421,529</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,848</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>180,042</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>348,783</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,718,411</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,946,146</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,992,289</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>89,194,631</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,720,340</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,421,168</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,014,365</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-118</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></FONT></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="30%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Companies</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="69%" colSpan=10>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity interest</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholding interest with voting rights</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investment book value</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity in net income (loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Revenue (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures net income (loss) for the year</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.2pt"></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cielo S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,108,743</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,204,520</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,699,378</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,654,621</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>15,004,712</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>392,167</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,007,233</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>IRB - Brasil Resseguros S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.51%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.51%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>662,460</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>132,668</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,484,793</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,828,133</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,238,221</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>844,876</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,185</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>646,823</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fleury S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (6)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.39%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.39%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>651,906</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17,506</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,343,162</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,021,981</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>429,411</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,166,607</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,045,898</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>106,829</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Aquarius Participa&#231;&#245;es S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>263,632</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>73,640</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>150,233</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>538,267</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>150,474</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>150,286</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Haitong Banco de Investimento do Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>127,922</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,596</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,187,596</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>493,325</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,041,309</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,243,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,980</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>102,251</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,517</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>247,475</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>109,390</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>44,890</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>22,642</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>44,246</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tecnologia Banc&#225;ria S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24.32%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24.32%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>98,543</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>71,232</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>193,546</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,117,398</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>499,341</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>406,459</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>686,800</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>292,862</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>73,789</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(7,024)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>171,823</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,780</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>111,755</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>330,985</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(14,335)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Empresa Brasileira de Solda El&#233;trica S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (9)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,168</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in associates</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,089,246</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,515,823</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,478,006</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,790,895</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,520,113</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,417,942</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,725,119</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,241,924</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Elo Participa&#231;&#245;es S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>849,355</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>198,457</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>352,179</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,596,527</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>107,627</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,879</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>396,835</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>64,174</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,721</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>443,978</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,883</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>317,298</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>164,026</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17,442</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>MPO - Processadora de Pagamentos M&#243;veis S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(49)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,538</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,532</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>256</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(98)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (8)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(23,227)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in joint ventures</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>913,532</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>183,902</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>799,695</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,600,410</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>428,457</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>183,161</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>414,179</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,699,725</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,277,701</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,391,305</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,948,570</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,417,942</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,908,280</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,656,103</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-119</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="29%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Companies</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%" colSpan=10>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 12.2pt">

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity interest</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Shareholding interest with voting rights</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Investment book value</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity in net income (loss)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures non - current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Revenue (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 12.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and joint ventures net income (loss) for the year</FONT></B></P></TD></TR>

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<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cielo S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30.06%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,302,071</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,043,743</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,755,540</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,806,140</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,199,287</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>9,696,767</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>239,386</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,472,355</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>IRB - Brasil Resseguros S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.51%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.51%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>658,949</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>138,165</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8,922</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,768</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,639</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>785</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,144</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>673,650</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fleury S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>6</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.39%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16.39%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>512,642</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,262</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,124,788</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>268,829</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>299,033</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,408,157</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,845</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>38,206</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Fidelity Processadora S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>254,785</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>68,312</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>450,267</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>402,702</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>332,997</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>19,546</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>139,412</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Haitong Banco de Investimento do Brasil S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>130,248</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(5,377)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,227,947</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>563,950</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,140,656</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,834,551</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(26,886)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>41.85%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>83,735</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17,660</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>203,030</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>93,487</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>35,986</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,590</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,247</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>42,197</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>NCR Brasil S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>80,357</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,101</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>206,315</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,146</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>134,533</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>71,177</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,492</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Empresa Brasileira de Solda El&#233;trica S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>49.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>33,954</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(5,769)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>101,151</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>48,161</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>47,519</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>32,499</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>115,874</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(11,774)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Integritas Participa&#231;&#245;es S.A. (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (5)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,778</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,647</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>741,803</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,534</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,066</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>828</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18,983</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in associates</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,056,741</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,274,875</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,088,607</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,957,986</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,203,184</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,143,864</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,299,598</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,360,635</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Elo Participa&#231;&#245;es S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.01%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>686,951</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>243,073</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>223,332</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,438,988</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>144,169</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>15</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,669</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>486,049</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>65,030</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>10,400</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>439,594</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,301</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>312,036</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>158,124</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20,800</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>MPO - Processadora de Pagamentos M&#243;veis S.A.</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,551</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>716</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>380,801</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>11,362</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>379,061</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>313,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,432</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT>) (8)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>50.00%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>52</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,013)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,920</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>278</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,095</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,790</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(2,026)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total investments in joint ventures</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>758,584</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>253,176</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,046,647</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,454,929</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>838,361</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>15</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>487,648</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>506,255</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="29%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,815,325</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,528,051</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>24,135,254</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,412,915</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,041,545</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,143,879</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,787,246</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,866,890</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 3pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Revenues from financial intermediation or services; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(<FONT style="FONT-SIZE: 7pt" face=Arial>3</FONT>)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(<FONT style="FONT-SIZE: 7pt" face=Arial>4</FONT>)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(5)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Partial spin-off in October, 2015;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(6)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&#231;&#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(7)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In January 2016, Aquarius Participa&#231;&#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&#231;os S.A.;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(8)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In April 2016, it was consolidated after acquisition of 50% of the company;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(9)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE &#8211; Empresa Brasileira de Solda El&#233;trica S.A.); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 53.5pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(10)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participa&#231;&#245;es S.A. presented R$ 8,109 thousand of other comprehensive income<FONT style="FONT-SIZE: 7pt" face=Arial>.</FONT></FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-120</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>In 2017, with the exception of Cielo S.A., IRB &#8211; Brasil Resseguros S.A. (IRB) and Fleury S.A, the other investments mentioned in the table above were not traded regularly on any stock exchange. The market value of investments totaled R$22,340,660 thousand (2016 - R$ 18,980,026 thousand). The Organization does not have any contingent liability for investments in Associates, in which it is responsible for, in part or in full.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in associates</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 3pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: #000000 1px solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Initial balances</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,815,325</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisitions (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>524,155</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>376,434</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Spin-off of associates (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(170,006)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transfer (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,953</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(166,294)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Equity in net income of associates</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,718,411</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,699,725</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Dividends/Interest on capital</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(802,662)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(655,920)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment (4)</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(31,868)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(37,122)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,623</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(29,370)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,257,384</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,002,778</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Intelig&#234;ncia de Cr&#233;dito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 7pt" face=Arial>Disposal partial sale </FONT>of&nbsp;the&nbsp;IRB (Note 43-6);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2016, the investment of Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito began to be consolidated after acquisition of 50% of the company; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0in 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>28)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Property and equipment</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 35.45pt; TEXT-INDENT: -9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman"> </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;Composition of </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>property and equipment</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> by class</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 4pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="53%" colSpan=4>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Annual rate</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Accumulated depreciation</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Buildings</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4%</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,153,407</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(483,266)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,670,141</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Land</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>982,720</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>982,720</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Installations, properties and equipment for use</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,450,939</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,667,455)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,783,484</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Security and communication systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>349,228</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(213,879)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,349</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Data processing systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,950,625</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,329,028)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,621,597</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transportation systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>86,705</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(48,246)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,459</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial leasing of data processing systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,431,868</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,231,143)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,200,725</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,405,492</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,973,017)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,432,475</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Buildings</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,153,351</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(454,426)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,698,925</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Land</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,027,535</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,027,535</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Installations, properties and equipment for use</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,187,160</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,314,715)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,872,445</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Security and communication systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>325,835</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(192,974)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,861</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Data processing systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,504,229</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,067,981)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,436,248</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transportation systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>86,639</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(40,034)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,605</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial leasing of data processing systems</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,229,513</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,047,016)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,182,497</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,514,262</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(7,117,146)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Depreciation charges in 2017 amounted to R$ 1,237,328 thousand (2016 - R$ 1,141,636 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We enter into finance lease agreements as a lessee for data processing equipment, which are recorded as leased equipment in property and equipment. According to this accounting method, both the asset and the obligation are recognized in the consolidated financial statements and the depreciation of the asset is calculated based on the same depreciation policy as for similar assets. See Note 38 for disclosure of the obligation.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-121</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 70.9pt; TEXT-INDENT: -28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Change in </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>property and equipment</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> by class</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 70.9pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="66%" colSpan=7>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Buildings</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Land</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Installations, properties and equipment for use</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Security and communications systems</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Data processing systems (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Transportation systems</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,698,925</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,027,535</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,872,445</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,861</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,618,745</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,605</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>117,888</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,777</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>754,606</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,134</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>947,314</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,926</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,897,645</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(53,151)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(86,592)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(323,217)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,540)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(86,469)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(100)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(552,069)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(73,568)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(502)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,836)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,288)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(79,194)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28,840)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(521,663)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(24,270)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(649,583)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12,972)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,237,328)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,887</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,815</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,397)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,305</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,670,141</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>982,720</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,783,484</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,349</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,822,322</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,459</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,432,475</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>582,602</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>448,020</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,788,330</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,086</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,556,160</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>70,237</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,504,435</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance originating from an acquired institution (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>752,619</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>586,971</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>320,949</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>77,196</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,065</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,797,800</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>81,809</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>897</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>974,089</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,721</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,696,318</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,487</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,779,321</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Write-offs</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,341)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,353)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(402,316)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,804)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(62,386)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,627)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(509,827)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(20,543)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(12,434)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(32,977)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,179)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(466,192)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(21,338)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(610,869)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(13,058)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,141,636)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Transfer</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>342,415</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(342,415)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="34%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,698,925</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,027,535</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,872,445</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>132,861</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,618,745</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>46,605</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,397,116</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;Includes financial lease of data processing systems; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;HSBC Brasil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT></FONT>&nbsp;</H1>

<a name="_bclFooter329"></a><DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-122</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_330"></A>

<a name="_bclHeader330"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>29)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Intangible assets and goodwill</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt 32.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 3pt 0in 0pt 39.3pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Change in intangible assets and goodwill by class</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Goodwill</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="52%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Intangible Assets</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Acquisition of financial service rights (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Software (1)</FONT></I></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Customer portfolio (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,945,313</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,503,457</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,945,244</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,358,923</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,589</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,797,526</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions/(reductions)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,549,335</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,203,313</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(8,944)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,743,704</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,683)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,683)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,000,894)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,327,456)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,000,234)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,656)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,331,240)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,945,313</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,051,898</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,790,418</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,358,689</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,989</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,179,307</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>723,526</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,260,033</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,639,825</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>709,463</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>76,788</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,409,635</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance originating from an acquired institution (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,221,787</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>264,349</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>288,826</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,993,743</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,840</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,773,545</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions/(reductions)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>930,190</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,284,041</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>129,266</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,343,497</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Impairment (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(212,374)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(212,374)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Amortization</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(951,115)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,055,074)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(344,283)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(166,305)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,516,777)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,945,313</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,503,457</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,945,244</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,358,923</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>44,589</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>15,797,526</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software &#8211; 20%; Customer portfolio &#8211; up to 20%; and others &#8211; 20%; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>HSBC Brasil; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Impairment losses were recognized in the consolidated statement of income, within &#8220;Other operating income/(expenses)&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<a name="_bclFooter330"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-123</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_131"></A>

<a name="_bclHeader331"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>b) Composition of goodwill by segment</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Banking</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,651,347</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,651,347</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance, pension and capitalization bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>293,966</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>293,966</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,945,313</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,945,313</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Cash Generation Units allocated to the banking segment and the insurance, pension and capitalization bonds segment are tested annually for impairment of goodwill. We did not incur any goodwill impairment losses in 2017,2016 and 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The recoverable amount from the Banking Segment has been determined based on a value-in-use calculation. The calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate of 7.1% p.a. (7.6% p.a. in 2016). The forecast cash flows have been discounted at a rate of 13.6% p.a. (12.9% p.a. in 2016). &nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The key assumptions described above may change as economic and market conditions change. The Organization estimates that reasonably possible changes in these assumptions within the current economic environment are not expected to cause the recoverable amount of either unit to decline below the carrying amount.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>30)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Other assets</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign exchange transactions (1)(4)</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,279,327</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,455,821</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Debtors for guarantee deposits (2)(4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,840,698</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,372,044</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Negotiation and intermediation of securities (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,741,524</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,954,484</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Trade and credit receivables (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,016,225</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,813,144</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deferred acquisition cost (insurance) &#8211; Note 35f</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,070,108</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,750,244</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other debtors</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,736,743</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,781,206</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Prepaid expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,244,602</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,324,362</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Income receivable (4)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,841,709</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,575,698</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interbank and interdepartmental accounts</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,480,291</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>949,730</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,602,760</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,193,637</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,853,987</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,170,370</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution&#8217;s domestic currency, resulting from exchange sale operations; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial assets are recorded at amortized cost.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-124</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_332"></A>

<a name="_bclHeader332"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>31)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Deposits from banks</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities called &#8220;Deposits from banks&#8221; are initially measured at fair value and, subsequently, at amortized cost, using the effective interest rate method.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Composition by nature</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Demand deposits</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,030,292</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>898,877</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interbank deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,168,625</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>588,872</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities sold under agreements to repurchase</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>233,467,544</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>241,978,931</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Borrowings</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,521,713</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,165,415</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Onlending</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,769,294</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,030,587</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>285,957,468</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>301,662,682</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>32)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Deposits from customers</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial liabilities called &#8220;Deposits from customers&#8221; are initially measured at fair value and subsequently at amortized cost, using the effective interest rate method.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Composition by nature </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Demand deposits</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,058,324</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,521,234</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Savings deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,332,697</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,088,828</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Time deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>125,617,424</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,137,867</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,008,445</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>232,747,929</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>33)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Funds from securities issued</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Composition by type of security issued and location</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Instruments Issued &#8211; Brazil:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Real estate credit notes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,020,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,955,574</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Agribusiness notes</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,973,682</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,116,292</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial bills</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,570,141</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>108,512,908</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>131,564,734</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>144,584,774</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities &#8211; Overseas:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Euronotes (1)</FONT></I></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>634,549</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,785,654</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities issued through securitization &#8211; (item (b))</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,606,322</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,286,342</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,240,871</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,071,996</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Structured Operations Certificates</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>368,485</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>445,168</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>135,174,090</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>151,101,938</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 3pt 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&nbsp;(1)&nbsp;&nbsp; Issuance of securities in the foreign market to fund customers&#8217; foreign exchange operations, export pre-financing, import financing and working capital financing, substantially in the medium and long terms. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt">&nbsp;</P>

<a name="_bclFooter332"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-125</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_133"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Securities issued through securitization</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Since 2003, the Organization uses certain arrangements to optimize its activities of funding and liquidity management by means of an Specific Purpose Entity (SPE). This SPE, which is called International Diversified Payment Rights Company, is financed with long-term bonds which are settled with the future cash flow of the corresponding assets, basically comprising current and future flow of payment orders sent by individuals and legal entities abroad to beneficiaries in Brazil for whom Bradesco acts as payor.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The long-term instruments issued by the SPE and sold to investors will be settled with funds from the payment orders flows. The Organization is required to redeem the instruments in specific cases of default or upon closing of the operations of the SPE.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The funds deriving from the sale of current and future payment orders flows, received by the SPE, must be maintained in a specific bank account until they reach a given minimum level.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We show below the amounts of the securities issued by the SPE, which appear in the &#8220;Funding from issuance of securities&#8221; line item:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%" colSpan=5>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Date of Issue</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Nominal amount</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Maturity</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=11 width="42%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Securitization of the future flow of payment orders received from abroad</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>06,3,2008</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>836,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,5,2017</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,183</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,12,2008</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,168,500</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,2,2019</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>348,524</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>698,551</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,12,2009</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>89,115</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,2,2020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,594</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>74,487</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,8,2010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>307,948</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,8,2017</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,938</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>29,9,2010</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>170,530</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,8,2017</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,810</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,11,2011</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>88,860</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,11,2018</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,068</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,989</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,11,2011</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>133,290</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,11,2021</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>139,678</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>177,095</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,12,2015</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>390,480</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,11,2022</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>330,311</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>348,110</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,12,2015</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>390,480</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,11,2020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>318,934</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>348,662</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>02,2,2016</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>889,725</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,2,2021</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>871,260</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>872,710</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>30,3,2016</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>533,835</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,2,2021</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>521,953</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>522,807</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #c0c0c0" width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,998,763</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,606,322</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,286,342</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 28.35pt" align=right><FONT lang=EN-US style="FONT-SIZE: 2pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 382.7pt 0pt 46.35pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Prepaid.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-126</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>34)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Subordinated debt</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 39.1pt; TEXT-INDENT: -17.85pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Composition of subordinated debt</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31 - R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Original term in years</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Nominal amount</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>In Brazil:</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated CDB:</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,000</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,303</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,200</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Financial bills:</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017 (1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,630,999</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,075,463</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2018</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,262,799</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,130,108</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,875,551</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,858</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,139</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>33,402</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017 (1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,100</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>95,872</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2018</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>141,050</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>316,757</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>293,357</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,172,835</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,436,734</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,423,463</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2020</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,700</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,801</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,612</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2022</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,305,011</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,597,559</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,050,633</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2023</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,359,452</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,699,872</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,522,243</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2024 (2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>67,450</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>73,861</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2018</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,000</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>119,417</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>112,038</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>12,735</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,184</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>25,212</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2020</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,556</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>54,383</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>49,498</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2021</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,236</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,027</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,896</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2023</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,706,846</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,265,488</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,015,625</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2024</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>136,695</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>159,205</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>143,415</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2025 (2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,193,653</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,624,611</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2021</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,000</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,125</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,813</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2024</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,924</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,611</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,806</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2025</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>400,944</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>457,679</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>417,641</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2021</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>19,200</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,429</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>37,191</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2022</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>54,143</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>99,338</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>91,314</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2023</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>688,064</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,070,085</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,011,423</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2025</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>284,137</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,376</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>342,886</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2026</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>361,196</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>438,776</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>392,886</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2027 (2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>258,743</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>273,498</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2026</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,400</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,271</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,001</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2027</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,046</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>53,996</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>48,566</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2028 (2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>74,764</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>77,079</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Perpetual</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,000,000</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,004,967</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,015,870</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subtotal in Brazil</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,541,679</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>41,155,877</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Overseas:</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2019</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,333,575</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,520,963</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,482,631</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2022</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,886,720</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,697,115</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,333,373</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2021</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,766,650</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,419,644</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,639,183</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subtotal overseas</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,637,722</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,455,187</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total (3)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 9.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,179,401</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 6pt 0in 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Subordinated debt transactions that matured in 2017; and </FONT></P>

<P style="MARGIN: 6pt 0in 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>New issuances of financial bills in 2017, referring to subordinated debt.</FONT></P>

<P style="MARGIN: 6pt 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=PT-BR style="FONT-SIZE: 2.5pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 25.1pt; TEXT-INDENT: -0.25in"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>b)</FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Net movement of subordinated debt</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: 0in"><FONT lang=PT-BR style="FONT-SIZE: 8pt; FONT-WEIGHT: normal" face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 12.95pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="30%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Initial balances</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,282,936 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance originating from an acquired institution</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,401,348 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Issuances</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,594,610 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,787,207 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Interest</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,100,017 </FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,298,555 </FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments and other</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,126,290)</FONT></P></TD>

   <TD style="HEIGHT: 12.95pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(9,158,982)</FONT></P></TD></TR>

<TR style="HEIGHT: 12.95pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="70%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>50,179,401 </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 12.95pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,611,064 </FONT></B></P></TD></TR></TABLE>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</H1>

<P style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-127</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV></DIV>

&nbsp; <A name="page_135"></A>

<a name="_bclHeader335"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>35)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Insurance technical provisions and pension plans</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: 7.05pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Technical provisions by account</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" rowSpan=4 width="37%">

   <P style="MARGIN: 0in 0in 0pt">&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" vAlign=bottom width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Life and Pension (2)(3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Current and long-term liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Mathematical reserve for unvested benefits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,051,507</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>912,764</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>207,818,859</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>184,594,055</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>208,870,366</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>185,506,819</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Mathematical reserve for vested benefits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>265,727</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>210,855</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,367,712</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,989,482</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,633,439</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,200,337</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reserve for claims incurred but not reported (IBNR)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,159,967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,770,507</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,030,107</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,264,115</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,190,074</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,034,622</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Unearned premium reserve</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,068,716</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,265,155</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>567,369</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>574,544</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,636,085</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,839,699</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reserve for unsettled claims</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,291,432</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,645,468</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,588,489</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,682,147</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,879,921</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,327,615</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Reserve for financial surplus</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>514,199</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>554,505</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>514,199</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>554,505</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other technical provisions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,996,206</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,048,355</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,369,300</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,328,048</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,365,506</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,376,403</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,833,555</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,853,104</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>224,256,035</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>200,986,896</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,089,590</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>215,840,000</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 3pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1) &nbsp;&#8220;Other technical provisions&#8221; - Insurance basically refers to the technical provisions of the &#8220;personal health&#8221; portfolio; </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2)&nbsp; Includes personal insurance and pension plans; and</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3) &#8220;Other <FONT style="FONT-SIZE: 8pt" face=Arial>technical provisions</FONT>&#8221; - Life and Pension Plan mainly includes the &#8220;Reserve for redemption and other amounts to be settled&#8221;, &#8220;Reserve for related expenses&#8221;. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial><U></U></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-128</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Technical provisions by product</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Life and Pension (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Health</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,754,024</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,559,137</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,754,024</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,559,137</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Auto / Liability Insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,156,847</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,126,232</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,156,847</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,126,232</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>DPVAT (Personal Injury Caused by Automotive Vehicles)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>506,161</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>471,288</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,100</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,944</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>509,261</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>474,232</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Life</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,018,884</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,336,759</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,018,884</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,336,759</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>RE (Elementary branch)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,416,523</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,696,447</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,416,523</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,696,447</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Free Benefits Generating Plan - PGBL</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,087,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,605,459</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>35,087,618</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,605,459</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Free Benefits Generating Life - VGBL</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>158,746,205</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>138,670,739</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>158,746,205</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>138,670,739</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Tradicional plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,400,228</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,370,995</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,400,228</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,370,995</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total technical provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,833,555</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,853,104</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>224,256,035</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>200,986,896</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,089,590</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>215,840,000</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=#222222 face=arial,sans-serif>(1) Includes personal and pension insurance operations.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Technical provisions by aggregated products</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Insurance &#8211; Vehicle, Elementary Lines, Life and Health</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24,855,539</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>24,192,807</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Insurance &#8211; Life with Survival Coverage (VGBL)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>158,746,205</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>138,670,739</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Pensions &#8211; PGBL and Traditional Plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>47,623,322</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>45,557,528</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Pensions &#8211; Risk Traditional Plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,864,524</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,418,926</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>239,089,590</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>215,840,000</FONT></B></P></TD></TR></TABLE></DIV>

<DIV align=left>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-129</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_137"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in the insurance and pension technical provisions</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.75in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(i)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Insurance &#8211; Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,611,733</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,844,231</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) DPVAT insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(473,579)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(333,699)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subtotal at beginning of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,138,154</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>27,510,532</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Additions, net of reversals</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,542,623</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>28,700,765</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payment of claims, benefits and redemptions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(27,156,197)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(26,449,844)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Adjustment for inflation and interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>648,898</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,376,701</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Partial spin-off of large risk portfolio</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(961,513)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subtotal at end of the period</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,211,965</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31,138,154</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(+) DPVAT insurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>508,098</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>473,579</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>32,720,063</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>31,611,733</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.75in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(ii)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Insurance &#8211; Life with Survival Coverage (VGBL)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.75in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>138,670,739</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>106,248,597</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Receipt of premiums net of fees</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>28,577,437</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>35,824,651</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payment of benefits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(28,758)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(47,379)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payment of redemptions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,985,242)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(16,674,828)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Adjustment for inflation and interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,468,401</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,660,738</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,956,372)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,341,040)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>158,746,205</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>138,670,739</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 0.75in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(iii)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Pensions &#8211; PGBL and Traditional Plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>45,557,528</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,848,112</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Receipt of premiums net of fees</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,446,148</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,412,759</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payment of benefits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(759,949)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(696,056)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payment of redemptions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,962,505)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(2,438,351)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Adjustment for inflation and interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,656,452</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4,808,394</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Others</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,314,352)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(377,330)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>47,623,322</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>45,557,528</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=Arial><U></U></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-130</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_338"></A>

<a name="_bclHeader338"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>e)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Guarantees for the technical provisions</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="37%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="63%" colSpan=6>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Insurance</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Life and pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total technical provisions</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,833,555</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,853,104</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>224,256,035</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>200,986,896</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>239,089,590</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>215,840,000</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Deferred acquisition cost PPNG reducers</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(138,780)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(237,104)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(138,780)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(237,104)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Portion corresponding to contracted reinsurance</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(153,137)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(947,159)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(14,123)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(41,191)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(167,260)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(988,350)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Deposits retained at IRB and court deposits</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(16)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(16)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Receivables</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(925,999)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,068,329)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(925,999)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,068,329)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Unearned premium reserve &#8211; Health and dental insurance (<FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,268,243)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,182,152)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,268,243)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,182,152)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(-) Reserves from DPVAT agreements</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(502,491)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(465,568)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(502,491)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(465,568)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>To be insured</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>11,844,905</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>10,952,776</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>224,241,912</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>200,945,705</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>236,086,817</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>211,898,481</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investment fund quotas (VGBL and PGBL) (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>190,639,798</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>168,337,785</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>190,639,798</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>168,337,785</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Investment fund quotas (excluding VGBL and PGBL)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,076,006</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7,164,637</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>21,639,087</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>23,273,027</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,715,093</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>30,437,664</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Government securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,011,657</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,882,012</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,608,194</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,187,009</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>27,619,851</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>20,069,021</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Private securities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>18,203</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>93,287</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>164,338</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>169,440</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>182,541</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>262,727</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,227</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,325</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,716,401</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,728,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,719,628</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,731,181</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total technical provision guarantees</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,109,093</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>13,142,261</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>232,767,818</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>207,696,117</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>246,876,911</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>220,838,378</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The investment funds "VGBL" and "PGBL" were consolidated in the financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt; TEXT-INDENT: -35.4pt"><FONT face=Arial></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-131</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_139"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0in 28.35pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>f)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in deferred acquisition cost (insurance assets)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,750,244</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,945,238</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,586,888</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,940,226</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>Reversals</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,250,844)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,135,220)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #c0c0c0" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #c0c0c0" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,070,108</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #c0c0c0" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,750,244</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 28.35pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>g)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in reinsurance assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,186,194</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,144,506</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Additions</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>186,867</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>667,908</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Reversals</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(139,641)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(485,724)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Recovered insurance losses</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(259,433)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(173,908)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Adjustment for inflation and interest</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(411)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>43,790</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Partial spin-off of large risk portfolio</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(721,428)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(<FONT style="FONT-SIZE: 8pt" face=Arial>754</FONT>,<FONT style="FONT-SIZE: 8pt" face=Arial>362</FONT>)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(10,378)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>219,214</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,186,194</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 17.85pt; TEXT-INDENT: -17.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Includes the transfer of part of the operation of the large risk portfolio (Note 43).</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 28.35pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>h)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Claim information</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The purpose of the table below is to show the inherent insurance risk, comparing the insurance claims paid with their provisions. Starting from the year in which the claim was reported, the upper part of the table shows the changes in the provision over the years. The provision varies as more precise information concerning the frequency and severity of the claims is obtained. The lower part of the table shows the reconciliation of the amounts with the amounts presented in the financial statements.</FONT></P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-132</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT>&nbsp;</FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

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<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance, Vehicle/RCF and Elementary Lines &#8211; Claims, gross reinsurance<SUP>(1) </SUP></FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="77%" colSpan=12>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="77%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year claims were notified</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Up to 2007</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2008</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2009</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2010</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2011</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amount estimated for the claims:</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; In the year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,482,979</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,152,371</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,058,559</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,414,674</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,647,298</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,134,409</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,020,829</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,708,479</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,160,984</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,821,255</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,481,275</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; One year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,679,108</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,108,270</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,037,365</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,394,609</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,626,356</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,035,716</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,848,361</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,456,642</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,028,967</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,640,897</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Two years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,711,861</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,088,069</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,018,329</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,387,075</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,604,738</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,021,698</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,809,942</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,464,389</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,989,904</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Three years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,783,290</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,094,795</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,015,921</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,403,020</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,604,061</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,041,626</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,839,210</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,436,234</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Four years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,845,834</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,102,364</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,046,000</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,418,649</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,600,194</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,071,989</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,813,496</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Five years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,902,275</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,102,595</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,044,644</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,428,252</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,625,442</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,888,296</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Six years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,956,618</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,127,609</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,056,612</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,431,363</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,621,044</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Seven years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>4,982,993</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,140,708</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,072,169</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,419,614</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Eight years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>5,028,742</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,158,436</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,057,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Nine years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>5,074,360</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,149,106</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Ten years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>5,086,824</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Estimate of claims on the reporting date (2017)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>5,086,824</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,149,106</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,057,911</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,419,614</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,621,044</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,888,296</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>2,813,496</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,436,234</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,989,904</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,640,897</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>3,481,275</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>33,584,601</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payments of claims</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(5,064,293)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(1,022,199)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,042,673)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,390,739)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,586,371)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,835,738)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,753,035)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(3,355,681)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(3,879,707)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(3,491,476)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(2,766,457)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>(32,188,369)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Outstanding Claims</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>22,531</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>126,907</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>15,238</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>28,875</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>34,673</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>52,558</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>60,461</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>80,553</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>110,197</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>149,421</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>714,818</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=#000000 face=arial,sans-serif>1,396,232</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B></SUP>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-133</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_141"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Insurance, Vehicle/RCF and Elementary Lines &#8211; Claims, net reinsurance<SUP>(1) </SUP></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="77%" colSpan=12>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="77%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year claims were notified</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Up to 2007</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2008</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2009</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2010</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2011</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2012</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2013</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2014</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amount estimated for net claims for reinsurance:</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; In the year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,049,408</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>859,651</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,791,249</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,260,194</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,440,426</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,804,706</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,815,311</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,523,133</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,805,260</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,661,006</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,443,486</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; One year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,107,420</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>846,124</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,773,092</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,235,404</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,417,095</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,695,513</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,648,135</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,306,665</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,695,713</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,541,988</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Two years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,157,532</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>835,214</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,766,152</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,232,926</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,401,407</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,696,091</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,622,005</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,317,745</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,671,224</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Three years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,225,589</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>844,636</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,769,942</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,251,003</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,418,057</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,705,326</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,658,925</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,323,339</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Four years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,285,309</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>850,115</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,791,739</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,268,293</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,425,973</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,729,230</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,659,375</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Five years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,338,449</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>857,121</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,797,090</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,281,206</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,452,938</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,746,804</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Six years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,390,840</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>868,958</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,810,770</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,291,650</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,459,251</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Seven years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,426,256</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>873,978</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,822,466</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,292,651</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Eight years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,466,917</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>884,796</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,824,085</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Nine years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,510,383</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>890,132</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Ten years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,527,764</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Estimate of claims on the reporting date (2017)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,527,764</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>890,132</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,824,085</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,292,651</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,459,251</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,746,804</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,659,375</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,323,339</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,671,224</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,541,988</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,443,486</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>31,380,099</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payments of claims</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(4,505,614)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(880,207)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,809,102)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,265,943)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,424,679)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,694,553)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,599,885)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,243,342)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,563,269)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(3,393,389)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,736,036)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(30,116,019)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Liquid outstanding claims for reinsurance</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>22,150</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>9,925</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>14,983</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,708</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>34,572</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>52,251</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>59,490</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>79,997</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>107,955</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>148,599</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>707,450</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,264,080</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-134</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 6pt 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Life &#8211; Insurance claims, gross reinsurance<SUP>(1) </SUP></FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="80%" colSpan=12>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="80%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Year claims were notified</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>U<FONT style="FONT-SIZE: 8pt" face=Arial>p</FONT> 2007</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>200<FONT style="FONT-SIZE: 8pt" face=Arial>8</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>200<FONT style="FONT-SIZE: 8pt" face=Arial>9</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>20<FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT>0</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>1</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>2</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>3</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>4</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>5</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>6</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201<FONT style="FONT-SIZE: 8pt" face=Arial>7</FONT></FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Amount estimated for net claims for reinsurance:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; In the year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,987,288</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>987,998</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,062,753</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,185,750</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,403,227</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,448,969</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,509,781</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,536,697</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,653,008</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,741,563</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,771,294</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; One year after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,004,988</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,000,730</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,082,779</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,183,274</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,386,518</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,431,243</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,491,911</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,568,941</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,648,842</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,755,802</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Two years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,038,732</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,020,530</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,105,401</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,195,472</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,393,915</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,447,741</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,525,941</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,570,227</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,644,051</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Three years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,075,972</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,018,008</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,100,970</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,185,871</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,406,376</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,450,511</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,514,898</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,495,266</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Four years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,079,897</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,017,316</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,109,079</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,198,856</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,406,472</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,454,750</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,516,747</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Five years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,081,301</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,015,902</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,119,669</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,198,607</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,416,009</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,459,181</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Six years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,086,778</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,017,807</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,118,181</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,197,508</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,417,352</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Seven years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,068,574</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,021,908</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,112,583</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,189,843</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Eight years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,076,228</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,024,349</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,115,707</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Nine years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,094,047</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,020,756</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>&#183;&nbsp; Ten years after notification</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,140,849</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Estimate of claims on the reporting date (2017)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,140,849</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,020,756</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,115,707</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,189,843</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,417,352</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,459,181</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,516,747</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,495,266</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,644,051</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,755,802</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,771,294</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>16,526,848</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Payments of claims</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,074,102)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,003,673)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,098,409)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,151,732)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,361,271)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,398,760)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,428,669)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,307,155)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,337,199)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,499,651)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,280,837)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(14,941,458)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Liquid outstanding claims for reinsurance</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>66,747</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,083</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,298</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>38,111</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>56,081</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>60,421</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>88,078</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>188,111</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>306,852</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>256,151</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>490,457</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,585,390</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 6pt 0in 0pt 40.8pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>The claims table does not include the products </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Health and Dental </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>insurance &#8211; R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,906,361</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif> thousand, DPVAT insurance &#8211; R$&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>86,592</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif> thousand, Retrocession &#8211; R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>21,722</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif> thousand and salvage and reimbursement estimates - R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(163,923)</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif> thousand.</FONT></P>

<P style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-135</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>36)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Supplemental pension plans</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco and its subsidiaries sponsor a private defined contribution pension for employees and directors, that allows financial resources to be accumulated by participants throughout their careers by means of employee and employer contributions and invested in an Exclusive Investment Fund (FIE). The Plan is managed by Bradesco Vida e Previd&#234;ncia S.A. and BRAM &#8211; Bradesco Asset Management S.A. DTVM is responsible for the financial management of the FIEs funds.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The Supplementary Pension Plan counts on contributions from employees and&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>directors</FONT> of Bradesco and its subsidiaries equivalent to at least 4% of their salary and, from the company, 5% of the salary, plus the percentage allocated to covers of risk benefits (invalidity and death). Actuarial obligations of the defined contribution plan are fully covered by the plan assets of the corresponding FIE. In addition to the plan, in 2001, participants who chose to migrate from the defined benefit plan are guaranteed a proportional deferred benefit, corresponding to their accumulated rights in that plan. For the active participants, retirees and pensioners of the defined benefit plan, now closed to new members, in run-off, the present value of the actuarial obligations of the plan is completely covered by collateral assets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Banco Alvorada S.A. (successor from the spin-off of Banco Baneb S.A.) maintains defined contribution and defined benefit retirement plans, to the former employees of Baneb, through Funda&#231;&#227;o Baneb de Seguridade Social &#8211; Bases.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco sponsors both defined benefit and defined contribution retirement plans, through Caixa de Assist&#234;ncia e Aposentadoria dos Funcion&#225;rios do Banco do Estado do Maranh&#227;o (Capof), to employees originating from Banco BEM S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco sponsors a defined benefit plan through Caixa de Previd&#234;ncia Privada Bec &#8211; Cabec, for former employees of Banco do Estado do Cear&#225; S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>With the acquisition of HSBC Bank Brasil S.A. (current Kirton Bank S.A. &#8211; Banco M&#250;ltiplo), the open pension plan, which was offered to employees of that institution, in the modality of defined contribution, has been discontinued. From October 2016, the employees transferred can adhere to the Supplementary Pension Plan offered to the employees of Bradesco. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Kirton Bank S.A. &#8211; Banco M&#250;ltiplo, Kirton Capitaliza&#231;&#227;o S.A., Kirton Corretora de Seguros S.A., Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A. and Kirton Seguros S.A. sponsor a defined benefit plan called APABA to employees originating from Banco Bamerindus do Brasil S.A., and Kirton Administra&#231;&#227;o de Servi&#231;os para Fundos de Pens&#227;o Ltda. sponsors to its employees the Kirton Prev Benefits Plan (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Plano de Benef&#237;cios Kirton Prev)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>), both managed by MultiBRA &#8211; Pension Fund.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Banco Losango S.A., Kirton Bank S.A. &#8211; Banco M&#250;ltiplo and Credival &#8211; Participa&#231;&#245;es, Administra&#231;&#227;o e Assessoria Ltda. sponsor three pension plans for its employees, which are Losango I Benefits Plan &#8211; Basic Part (modality of defined contribution), Losango I &#8211; Supplementary Part and PREVMAIS Losango Plan (modality of variable contribution), all managed by MultiBRA &#8211; Settlor &#8211; Multiple Fund.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco took on the obligations of Kirton Bank S.A. &#8211; Banco M&#250;ltiplo with regard to Life Insurance, Health Insurance Plans, and Retirement Compensation for employees coming from Banco Bamerindus do Brasil S.A. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco, in its overseas facilities, provides for its employees and administrators a pension plan, according to the norms established by the local authorities, that allows to accumulate financial resources throughout the professional career of the participant.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.25pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Expenses related to contributions made in the year ending December 31, 2017, totaled R$&nbsp;988,905&nbsp;thousand (2016 - R$&nbsp;584,438 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training. These expenses, including the aforementioned contributions, totaled the amount of R$&nbsp;5,594,368 thousand in the year ending December 31, 2017 (2016 - R$ 3,826,715 thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt">&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Times></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-136</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=red face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(i)&nbsp;&nbsp;&nbsp;&nbsp; Projected benefit obligations:</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,141,393</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,162,005</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance from an acquired institution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>761,119</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cost of current service</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>186</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,077)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Interest cost</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>227,980</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>181,595</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Participant&#8217;s contribution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,197</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,831</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Actuarial gain/(loss)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>144,624</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>182,762</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Benefit paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(192,042)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(147,842)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,323,338</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,141,393</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(ii)&nbsp;&nbsp;&nbsp; Plan assets comprise:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the beginning of the year</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,127,872</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,047,782</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance from an acquired institution</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>883,858</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Expected earnings</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>423,546</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>307,728</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Contributions received:</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Employer</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>14,957</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>33,515</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Employees</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,197</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,831</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Benefit paid</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(192,043)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(147,842)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>At the end of the year</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,375,529</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,127,872</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(iii)&nbsp;&nbsp; Financial position:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Plans in deficit</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(149,571)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(130,293)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Plans in surplus</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>201,762</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>116,772</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net balance</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>52,191</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(13,521)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.25pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-WEIGHT: normal; LINE-HEIGHT: normal" color=black face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The net cost/(benefit) of the pension plans recognized in the consolidated statement of income includes the following components:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: #000000 1px solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Projected benefit obligations:</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><I><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></I>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cost of service</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>186</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,077)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(579)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Cost of interest on actuarial obligations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>227,980</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>181,595</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>133,385</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Expected earnings from the assets of the plan</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(227,360)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(174,937)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(120,960)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Net cost/(benefit) of the pension plans</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>806</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,581</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>11,846</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The accumulated obligations of the pension plans are included in &#8220;Other Liabilities&#8221;, in our consolidated statement of financial position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Benefit obligations and net periodic benefit cost for the years 2017 and 2016 for our subsidiaries, were determined using the following assumptions:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Discount rate (1)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8.5% - 10% p.a.&nbsp;</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>11.1% p.a.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Expected long-term rate of return on the assets</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>8.5% - 10% p.a.&nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>11.1% p.a.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Increase in salary levels</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4.3% p.a.&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4.8% p.a.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 &#8211; 4.8% and 6.0% p.a., respectively).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The long-term rate of return on plan assets is based on the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt">&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-137</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Medium- to long-term expectations of the asset managers; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Public and private securities, with short to long-term maturities which represent a significant portion of the investment portfolios of our subsidiaries, the return on which is higher than inflation plus interest.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The assets of pension plans are invested in compliance with the applicable legislation (government securities and private securities, listed company shares and real estate properties) and the weighted-average allocation of the pension plan's assets by category is as follows:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets of the Alvorada Plan</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets of the Bradesco Plan</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets of the Kirton Plan</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets of the Losango Plan</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Asset categories</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Equities</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>4.7%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3.9%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>17.3%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>18.8%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Fixed income</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>92.7%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>93.1%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>90.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>91.3%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>82.7%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>81.2%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Real estate</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5.7%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5.3%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.7%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1.6%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.1%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2.1%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif><FONT style="FONT-SIZE: 8pt" face=Arial>-</FONT></FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>100.0%</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Below is the sensitivity analysis of the benefit plan obligations, showing the impact on the actuarial exposure (8.5 &#8211; 10.0% p.a.) assuming a 1 b.p. change in the discount rate:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="41%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Discount rate</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Sensitivity Analysis</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect on actuarial liabilities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Effect on the present value of the obligations</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>9.5% - 11.0% p.a.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Increase of 1 p.p.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>reduction</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(256,532)</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>7.5% - 9.0% p.a.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Decrease of 1 b.p.</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>increase</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>303,154</FONT></P></TD></TR></TABLE></DIV>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>37)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Provisions, contingent liabilities and contingent assets</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Contingent assets are not recognized in the financial statements. However, there are ongoing proceedings where the chance of success is considered probable, </FONT><FONT lang=EN style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=#222222 face=arial,sans-serif>but of immaterial values, </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>such as: a) Social Integration Program (PIS), Bradesco has made a claim to offset PIS against Gross Operating Income, paid under Decree-Laws n<SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>2,445/88 and n<SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>2,449/88, regarding the payment that exceeded the amount due under Supplementary Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>&nbsp;07/70 (PIS Repique); and b) other taxes, the legality and/or constitutionality of which is being challenged, where the decision may lead to reimbursement of amounts paid.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent liabilities and tax and social security obligations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization is a party to a number of labor, civil and tax lawsuits, arising from the normal course of business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Management recorded provisions based on their opinion and that of their legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing, where the loss is deemed probable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Management considers that the provision is sufficient to cover losses generated by the respective lawsuits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Liability related to litigation is held until the conclusion to the lawsuit, represented by judicial decisions, with no further appeals or due to the statute of limitation.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-138</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>I -</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Labor claims</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>These are claims brought by former employees and outsourced employees seeking indemnifications, most significantly for unpaid &#8220;overtime&#8221;, pursuant to Article 224 of the Consolidation of Labor Laws (CLT). In proceedings in which a judicial deposit is used to guarantee the execution of the judgment, the labor provision is made considering the estimated loss of these deposits. For proceedings with similar characteristics and for which there has been no official court decision, the provision is recorded based on the average calculated value of payments made for labor complaints settled in the past 12 months and for proceedings originating from acquired banks, with unique characteristics, the calculation and assessment of the required balance is conducted periodically, based on the updated recent loss history.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Overtime is monitored by using electronic time cards and paid regularly during the employment contract and, accordingly, the claims filed by former employees do not represent significant amounts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -63.8pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>II -</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Civil proceedings</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>These are claims for pain and suffering and property damages, mainly relating to protests, returned checks, the inclusion of information about debtors in the credit restriction registry and the replacement of inflation adjustments excluded as a result of government economic plans. These lawsuits are individually controlled using a computer-based system and provisioned whenever the loss is deemed as probable, considering the opinion of Management and their legal counsel, the nature of the lawsuits, similarity with previous lawsuits, complexity and positioning of the courts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Most of these lawsuits are brought to the Special Civil Court (JEC), in which the claims are limited to 40 times the minimum wage and do not have a significant impact on&nbsp; the Organization&#8217;s financial position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>There are a significant number of legal claims pleading alleged differences in adjustment for inflation on savings account balances due to the implementation of economic plans that were part of the federal government&#8217;s economic policy to reduce inflation in the &#8216;80s and &#8216;90s. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Although Bradesco complied with the law and regulation in force at the time, these lawsuits have been recorded in provisions, taking into consideration the claims where the Bradesco is the defendant and the perspective of loss, which is considered after the analysis of each demand, based on the current decision of the Superior Court of Justice (STJ).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In&nbsp;December 2017, with the mediation of the Attorney&#8217;s General Office (AGU), the entities representing the bank and the savings accounts, entered into an agreement related to litigation of economic plans, with the purpose of closing these claims, in which conditions and schedule were established for savings accounts holders may to accede the agreement. This agreement was approved by the Federal Supreme Court (STF) on March 1, 2018, pending final decision of the approval decision. As this is a voluntary agreement, Bradesco is unable to predict how many savings account holders will choose to accept the settlement offer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Note that, regarding disputes relating to economic plans, the Federal Supreme Court (STF) suspended the prosecution of all lawsuits on cognizance stage, until the Court issues a final decision on the right under litigation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Tax and social security obligations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The Organization is disputing the legality and constitutionality of certain taxes and contributions in court, for which provisions have been recorded in full, although there is good chance of a favorable outcome, based on the opinion of Management and their legal counsel. The processing of these legal obligations and the provisions for cases for which the risk of loss is deemed as probable is regularly monitored in the legal court. During or after the conclusion of </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt">&nbsp;</P><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-139</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt">

<FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>each case, a favorable outcome may arise for the Organization, resulting in the reversal of the related provisions. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The main cases are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="times new roman">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>PIS and COFINS &#8211; R$ 2,489,247&nbsp;thousand (R$ 2,320,261 thousand in 2016): a request for authorization to calculate and pay PIS and COFINS based on effective billing, as set forth in Article 2 of Supplementary Law&nbsp;n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> 70/91, removing from the calculation base the unconstitutional inclusion of other revenues other than those billed;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="times new roman">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>IRPJ/CSLL on losses of credits &#8211; R$ 1,614,663 thousand (R$ 1,913,208 thousand in 2016): we are requesting to deduct from income tax and social contributions payable (IRPJ and CSLL, respectively) amounts of actual and definite loan losses related to unconditional discounts granted during collections, regardless of compliance with the terms and conditions provided for in Articles 9 to 14 of Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>&nbsp;9,430/96 that only apply to temporary losses;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="times new roman">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Pension Contributions &#8211; R$ 1,466,469 thousand (R$ 1,385,456 thousand in 2016): official notifications related to the pension contributions on financial contributions in private pension plans, considered by the authorities to be compensatory sums subject to the incidence of pension contributions and to an isolated fine for not withholding IRRF on the financial contributions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="times new roman">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>INSS Autonomous Brokers &#8211; R$ 643,655&nbsp;thousand (R$ 901,171 thousand in 2016): The Bradesco Organization is questioning the charging of social security contribution on remunerations paid to third-party service providers, established by Supplementary Law No.&nbsp;84/96 and subsequent regulations/amendments, at 20.0% with an additional 2.5%, on the grounds that services are not provided to insurance companies but to policyholders, thus being outside the scope of such a contribution as provided for in item I, Article 22 of Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>&nbsp;8,212/91, as new wording in Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>&nbsp;9,876/99; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 63.8pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="times new roman">-</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>INSS &#8211; Contribution to SAT &#8211; R$ 401,018 thousand (R$ 374,620 thousand in 2016): &nbsp;thousand: in an ordinary lawsuit filed by the Brazilian Federation of Banks &#8211; Febraban, since April 2007, on behalf of its members, is questioning the classification of banks at the highest level of risk, with respect to Work Accident Risk &#8211; RAT, which eventually raised the rate of the respective contribution from 1% to 3%, in accordance with Decree n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> 6,042/07; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In general, the provisions relating to lawsuits are classified as non-current, due to the unpredictability of the duration of the proceedings in the Brazilian justice system. For this reason, the estimate has not been disclosed with relation to the specific year in which these lawsuits will be closed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In 2017, the Organization adhered to the Special Tax Regularization Program (PERT), established by Provisional Measure (MP) No. 783/17, which provides for the settlement by means of payment and installment payment of its tax and social security obligations with the Brazilian Federal Revenue Service and the National Treasury Attorney-General&#8217;s Office (PGFN) of debts due up to April 30, 2017, resulting in a negative net effect of R$241,141 thousand in the Consolidated statement of income. On October 24, 2017, the MP No. 783/17 was converted into Law No. 1396/17 and was amended; however, no relevant impacts on the Organization.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In addition to this, Bradesco also adhered to the Incentivized Installment Payment Program (PPI-SP), Law No. 16,680/17 in order to promote the settlement of debts regarding such law as to taxable events occurred up to December 31,2016, resulting in the net negative effect of R$61,814 thousand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Times></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-140</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in other provision</FONT></B></P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom rowSpan=2 width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" vAlign=bottom width="49%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 2.85pt 0pt 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Labor</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Civil</FONT></B></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0pt 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Tax and Social Security (1) (2)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face=arial,sans-serif>December 31, 2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,101,732 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,003,440 </FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,187,237 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Indexation charges</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>637,263 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>484,447 </FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>500,719 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions, net of reversals</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,002,559 </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>830,642 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(984,342)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>(1,186,758)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(971,966)</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(114,246)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face=arial,sans-serif>December 31, 2017</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>5,554,796 </FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,346,563 </FONT></B></P></TD>

   <TD style="BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 3.4pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,589,368 </FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face=arial,sans-serif>December 31, 2015</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,048,442</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,202,950</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,112,925</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Indexation charges</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>454,045</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>409,236</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>705,036</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Additions, net of reversals</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>876,816</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,310,333</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,236,705)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Balance originating from an acquired institution <SUP>(3)</SUP></FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,684,370</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>544,997</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>703,967</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Payments </FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(961,941)</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,464,076)</FONT></P></TD>

   <TD style="BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(97,986)</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="51%">

   <P style="MARGIN: 0in 0in 0pt 2.85pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Balance on </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face=arial,sans-serif>December 31, 2016</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,101,732</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,003,440</FONT></B></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 2.15pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 5.65pt 0pt 0in" align=right><B><FONT style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,187,237</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Mainly include legal liabilities;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Sa&#250;de subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process &#8211; EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>HSBC Brasil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>e)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Contingent liabilities classified as possible losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0.25in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The Organization maintains a system to monitor all administrative and judicial proceedings in which the institution is plaintiff or defendant and, based on the opinion of legal counsel, classifies the lawsuits according to the expectation of loss. Case law trends are periodically analyzed and, if necessary, the related risk is reclassified. In this respect, contingent lawsuits deemed to have a possible risk of loss are not recorded as a liability in the financial statements. The main proceedings in this category are the following: a) 2006 to 2013 income tax and social contribution, relating to goodwill amortization being disallowed on the acquisition of investments, for the amount of R$ 6,264,741 thousand (R$ 5,894,504 thousand in 2016); b) Fines and disallowances of Cofins loan compensations, released after a favorable decision in a judicial proceeding, where the unconstitutionality of the expansion of the intended calculation base was discussed for revenues other than those from billing (Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> 9,718/98), in the amount of R$ 4,902,151 thousand (R$ 3,999,185 thousand in 2016); c) Leases companies&#8217; Tax on Services of any Nature (ISSQN), total lawsuits correspond to R$&nbsp;2,394,087 thousand (R$ 2,398,185 thousand in 2016) which relates to the municipal tax demands from municipalities other than those in which the company is located and where, under law, tax is collected; d) IRPJ and CSLL deficiency note relating to disallowance of exclusions of revenues from the mark-to-market of securities from 2007 to 2013, differences in depreciation expenses, insufficient depreciation expenses, expenses with depreciation of leased assets, operating expenses and income and disallowance of tax loss compensation, in the amount of R$&nbsp;2,431,844 thousand (R$ 1,653,942 thousand in 2016); e) Notifications and disallowances of compensations of PIS and Cofins related to the unconstitutional extension of the basis of calculation intended for other income other than the billing (Law n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> 9,718/98), from acquired companies, amounting to R$ 1,399,506 thousand (R$ 1,317,238 thousand in 2016); f) IRPJ and </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-141</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt">

<FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>CSLL deficiency notice relating to the disallowance of loan loss deductions, for the amount of R$ 969,713 thousand (R$&nbsp;760,436&nbsp;thousand in 2016); and g) IRPJ and CSLL deficiency note, amounting to R$ 489,687 thousand (R$ 459,962 thousand in 2016) relating to profit of subsidiaries based overseas, for the calendar years of 2008 and 2009.</FONT></P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>38)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Other liabilities</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial liabilities</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Credit card transactions (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>26,163,066</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>23,717,936</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Foreign exchange transactions (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,085,029</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>17,975,291</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Loan assignment obligations</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,454,076</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,761,827</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Capitalization bonds</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,562,974</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,502,158</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Securities trading</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,317,155</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2,569,881</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Liabilities for acquisition of assets &#8211; financial leasing (Note 38 a)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>857,212</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,063,649</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">&nbsp;</TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Third party funds in transit (3)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,211,038</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>7,068,452</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Provision for payments</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,743,428</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,997,168</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Sundry creditors</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,205,800</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,843,035</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Social and statutory</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,524,457</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,631,237</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other taxes payable</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,466,306</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,528,980</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Liabilities for acquisition of assets and rights</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,480,777</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,452,568</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Other</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,745,506</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>4,853,333</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>97,816,824</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>96,965,515</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Refers to amounts payable to merchants;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Mainly refers to the institution&#8217;s sales in foreign currency to customers and its right&#8217;s in domestic currency, resulting from exchange sale operations; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face=arial,sans-serif>(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 39.3pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Composition by maturity of financial leases and details of operating leases</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Due within one year</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>564,337</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>578,965</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 1 to 2 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>256,327</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>375,073</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>From 2 to 3 years</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>36,548</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>109,611</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>857,212</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,063,649</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Total non-cancellable minimum future payments due on operating leases in 2017 are R$ 7,923,649 &nbsp;thousand, of which R$ 832,991 thousand is due within 1 year, R$ 3,325,401 thousand between 1-5 years and R$ 3,765,257 thousand with more than 5 years. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Times></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-142</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>39)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Equity</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 76.55pt; TEXT-INDENT: -76.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 1in; TEXT-INDENT: -50.7pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital and shareholders&#8217; rights</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 76.55pt; TEXT-INDENT: -76.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>i.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Composition of share capital in number of shares</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -42.55pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The share capital, which is fully subscribed and paid, is divided into registered shares with no par value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2016 (1)</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Common</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,054,481,112</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,054,481,112</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Preferred</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,054,480,793</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,054,480,793</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Subtotal</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,108,961,905</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,108,961,905</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Treasury (common shares)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,032,549)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(5,032,549)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Treasury (preferred shares)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,855,746)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(18,855,746)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total outstanding shares</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,085,073,610</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,085,073,610</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>ii.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Changes in capital stock, in number of shares</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="54%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Common</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Number of shares outstanding on December 31, 2015 (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,050,040,493</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,035,625,047</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>6,085,665,540</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Shares acquired and not canceled</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(591,930)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(591,930)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Number of shares outstanding on December 31, 2016 (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>3,049,448,563</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,035,625,047</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,085,073,610</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Number of shares outstanding on December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,049,448,563</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,035,625,047</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-RIGHT: 0.75pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,085,073,610</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 63.8pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;(1) All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&#8217; Meeting&nbsp; of March 10, 2017 in proportion of one new share for every 10 shares held.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the Extraordinary General Meeting of March 10, 2016, the approval was proposed by the Board of Directors to increase the capital stock by R$ 8,000,000 thousand, increasing it from R$&nbsp;43,100,000 thousand to R$ 51,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &#8220;Profit Reserves - Statutory Reserve&#8221;, in compliance with the provisions in Article 169 of Law </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> 6,404/76, by issuing 504,872,885 new nominative-book entry shares, with no nominal value, whereby 252,436,456 are common and 252,436,429 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In the Extraordinary General Meeting of March 10, 2017, the approval was proposed by the Board of Directors to increase the capital stock by R$8,000,000 thousand, increasing it from R$51,100,000 thousand to R$59,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &#8220;Profit Reserves - Statutory Reserve&#8221;, in compliance with the provisions in Article 169 of Law No. 6,404/76, by issuing 555,360,173 new nominative-book entry shares, with no nominal value, whereby 277,680,101 are common and 277,680,072 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date, and was approved by the Bacen on April 18, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>All of the shareholders are entitled to receive, in total, a mandatory dividend of at least 30% of Bradesco&#8217;s annual net income, as shown in the statutory accounting records, adjusted by transfers to reserves. The Organization has no obligation that is exchangeable for or convertible into shares of capital. As a result, its diluted earnings per share is the same as the basic earnings per share.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In occurring any operation that changes the number of shares, simultaneously with the transaction in the Brazilian Market, and with the same timeframes, an identical procedure is adopted in the International Market, for the ADRs/GDRs traded in New York, USA, and Madrid, Spain.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Treasury shares are recorded at cost, which is approximately equivalent to the market prices on the date they are acquired. Cancellation of treasury shares is recorded as a reduction of unappropriated retained earnings. Treasury shares are acquired for subsequent sale or cancellation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt">&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-143</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT></FONT></U></FONT></P>

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&nbsp; <A name="page_151"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 1in; TEXT-INDENT: -43.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reserves</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Capital reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The capital reserve consists mainly of premiums paid by the shareholders upon subscription of shares. The capital reserve is used for (i) absorption of any losses in excess of accumulated losses and revenue reserves, (ii) redemption, reimbursement of purchase of shares, (iii) redemption of founders&#180; shares, (iv) transfer to share capital, and (v) payment of dividends to preferred shares, when this privilege is granted to them.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Revenue reserves</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In accordance with Corporate Legislation, Bradesco and its Brazilian subsidiaries must allocate 5% of their annual statutory net income, after absorption of accumulated losses, to a legal reserve, the distribution of which is subject to certain limitations. The reserve can be used to increase capital or to absorb losses, but cannot be distributed in the form of dividends.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Statutory Reserve aims to maintain an operating margin that is compatible with the development of the Organization&#8217;s active operations and may be formed by up to 100% of net income remaining after statutory allocations if proposed by the Board of Executive Officers, approved by the Board of Directors and ratified at the Shareholders&#8217; Meeting, with the accumulated value limited to 95% of the Organization&#8217;s paid-in capital share amount.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 1in; TEXT-INDENT: -43.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest on shareholders&#8217; equity / Dividends </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Interest on shareholders' equity are calculated on the net income as determined in the financial statements prepared in accordance with Brazilian generally accepted accounting principles (BR GAAP) applicable to financial institutions authorized to operate by the Central Bank of Brazil. The dividends are paid in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> and can be converted into US dollars and remitted to shareholders abroad, provided that the equity participation of the non-resident shareholder is registered with the Central Bank of Brazil, Brazilian companies may pay interest on equity to shareholders based on the net equity and treat these payments as deductible expenses in the Brazilian income tax and social contribution calculations. The interest cost is treated for accounting purposes as a deduction from equity in a manner similar to dividends. Withholding income tax is levied and paid at the time that the interest on equity is paid to the shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>In 2017 the Organization distributed interest on <FONT style="FONT-SIZE: 10pt" face=Arial>shareholders' </FONT>equity of R$ 7,204,344 &nbsp;thousand, being attributed to the shareholders, the gross amount per share of R$ 1.13 for common shares and R$ 1.25 for preferred shares (2016 - R$ 6,975,782 thousand, R$ 1.09 for common shares and R$ 1.20 for preferred shares).</FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in">&nbsp;</H1>

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<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Times></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-144</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>40)</FONT></B><B><FONT style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Transactions with related parties</FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Related party transactions are carried out under conditions and at rates consistent with those entered into with third parties, when applicable, and effective on the dates of the operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The main transactions with related parties are presented as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Controllers (1)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and Jointly controlled companies (2)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Key Management Personnel (3)</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Loans and advances to banks</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>724,369</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,033,479</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>724,369</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,033,479</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,572</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,128</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>3,572</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,128</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Deposits from customers</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>931,141</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,374,940</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>103,734</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>62,928</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>87,213</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>86,594</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,122,088</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,524,462</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Funds from issuance of securities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,632,932</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>5,755,615</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>244,082</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>398,549</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1,405,203</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>823,527</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,282,217</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>6,977,691</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Social and statutory</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,275,419</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,770,149</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>2,275,419</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>1,770,149</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,827,877</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,704</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>8,827,877</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>13,704</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=4 width="23%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="77%" colSpan=12>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Controllers (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Associates and Jointly controlled companies (2)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="19%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Key Management Personnel (3)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="20%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="77%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Revenues and expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Net interest income</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(887,059)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,129,931)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(78,813)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>40,671</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(41,814)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(426)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(84,818)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(108,333)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(88,344)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(931,206)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1,280,078)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(167,583)</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other revenues</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>441,381</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>360,286</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>337,070</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>441,381</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>360,286</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>337,070</FONT></P></TD></TR>

<TR style="HEIGHT: 11.05pt">

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Other expenses</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,652)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,391)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2,160)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(289,100)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(224,444)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(246,504)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>-&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="6%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(291,752)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(226,835)</FONT></P></TD>

   <TD style="HEIGHT: 11.05pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="7%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(248,664)</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(1) Cidade de Deus Cia. Cial. de Participa&#231;&#245;es, Funda&#231;&#227;o Bradesco, NCF Participa&#231;&#245;es S.A., Titanium Holdings S.A., BBD Participa&#231;&#245;es S.A. and Nova Cidade de Deus Participa&#231;&#245;es S.A.;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(2) Companies listed in Note 2; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(3) Members of the Board of Directors and the Board of Executive Officers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt">&nbsp;</P>

<a name="_bclFooter352"></a><DIV>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt">&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-145</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

<DIV></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_153"></A>

<a name="_bclHeader353"></a><DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>a) Remuneration of key management personnel</FONT></B></P>

<P style="MARGIN: 0in 0in 0in 53.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The following is established each year at the Annual Shareholders&#8217; Meeting:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The annual grand total amount of management compensation, set forth at the Board of Directors Meetings, to be paid to board members and members of the Board of Executive Officers, as determined by the Company&#8217;s Bylaws; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The amount allocated to finance Management pension plans, within the Employee and Management pension plan of the Bradesco.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>For 2017, the maximum amount of R$ </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>468,700 </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>&nbsp;thousand was set for Management compensation and R$ 487,700 thousand to finance defined contribution pension plans. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The current policy on Management compensation sets forth that 50% of net variable compensation, if any, must be allocated to the acquisition of PNB issued by BBD Participa&#231;&#245;es S.A. and / or issued PN shares of Bradesco Bank S.A., which vest in three equal, annual and successive installments, the first of which is in the year following the payment date. This procedure complies with Resolution </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>n</FONT><SUP><U><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>o</FONT></U></SUP><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif> 3921/10, which sets forth a management compensation policy for financial institutions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Short-term benefits for management</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="54%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=calibri,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Salaries</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>456,262</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>441,592</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>309,864</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>456,262</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>441,592</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>309,864</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Post-employment benefits</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: black 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="46%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=3>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="54%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Years ended December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Defined contribution supplementary pension plans</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>473,663</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>251,250</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>311,670</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>473,663</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>251,250</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>311,670</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0in 53.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The Organization has no long-term benefits for the termination of employment contracts or for remuneration based on shares for its key management personnel.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 42.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Other information</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Under current law, financial institutions are not allowed to grant loans or advances to:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Officers and members of the advisory, administrative, fiscal or similar councils, as well as to their respective spouses and family members up to the<SUP> </SUP>second degree;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 70.9pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(ii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Individuals or corporations that own more than 10% of their capital; and</FONT></P>

<P style="MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 78pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>(iii)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Corporations in which the financial institution itself, any officers or administrators of the institution, as well as their spouses and respective family members up to the second degree own more than 10% of equity.</FONT></P>

<P style="MARGIN: 0in 0in 0in 53.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<a name="_bclFooter353"></a><DIV>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0pt 0pt; TEXT-INDENT: 0pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Times></FONT></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-146</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_354"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

<DIV style="BORDER-TOP: windowtext 2.25pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></DIV></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Therefore, no loans or advances are granted by the financial institutions to any subsidiary, members of the Board of Directors or Board of Executive Officers and their relatives.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 56.7pt; TEXT-INDENT: -14.15pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Equity participation </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding in Bradesco:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 56.7pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="35%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="65%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Common shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.5%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.7%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Preferred shares</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.0%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>1.1%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total shares (1)</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="32%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.8%</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>0.9%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 &#8211; 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).</FONT></P>

<P style="MARGIN: 0in 0in 0in 77.4pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>41)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Off-balance sheet commitments</FONT></B></H1>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The table below summarizes the total risk represented by off-balance sheet commitments:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.6pt">

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=3 width="64%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>R$ thousand</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="36%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>On December 31</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Commitments to extend credit (1)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>203,927,816</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>237,019,535</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Financial guarantees (2)</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>78,867,348</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>78,949,483</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Letters of credit for imports</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>294,229</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: white; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>329,015</FONT></P></TD></TR>

<TR style="HEIGHT: 11.6pt">

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="64%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" color=windowtext face=arial,sans-serif>Total</FONT></B></P></TD>

   <TD style="HEIGHT: 11.6pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>283,089,393</FONT></P></TD>

   <TD style="HEIGHT: 11.6pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="18%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>316,298,033</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 3pt 0in 0pt 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 42.55pt; TEXT-INDENT: -21.25pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" color=black face=arial,sans-serif>Refers to guarantees mostly provided for Corporate customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Financial guarantees are conditional commitments for loans issued to ensure the performance of a customer in an obligation to a third party. There is usually the right of recourse against the customer to recover any amount paid under these guarantees. Moreover, we can retain cash or other highly-liquid funds to counter-guarantee these commitments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>The contracts are subject to the same credit evaluations as other <FONT style="FONT-SIZE: 10pt" face=Arial>loans and advances</FONT>. Standby letters of credit are issued mainly to endorse public and private debt issue agreements including commercial paper, securities financing and similar transactions. The standby letters of credit are subject to customer credit evaluation by the management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>We issue letters of credit in connection with foreign trade transactions to guarantee the performance of a customer with a third party. These instruments are short-term commitments to pay the third-party beneficiary under certain contractual terms for the shipment of products. The contracts are subject to the same credit evaluation as other <FONT style="FONT-SIZE: 10pt" face=Arial>loans and advances</FONT>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 28.35pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-147</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_155"></A>

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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="frutiger lt std 45 light,sans-serif"></FONT>&nbsp;</P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 13pt" color=black face="Univers 45 Light"></FONT>&nbsp;</P></DIV>

<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>42)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>New standards</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif> and amendments</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif> and interpretations of </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif>existing</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif> standards </FONT></B></H1>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 28.35pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif>Standards, amendments and interpretations of existing standards in future periods</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 replaces the guidance in IAS 39 - Financial Instruments: Recognition and Measurement. IFRS 9 is applied for financial instruments and will be adopted retrospectively on the effective date of the standard on January 1, 2018. IFRS 9 includes: (i) new models for the classification and measurement of financial instruments; (ii) measurement of expected credit losses for financial assets; and (iii) new requirements on hedge accounting. The new standard maintains the principal existing guidance on the recognition and derecognition of financial instruments in IAS 39.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Pursuant to analysis made by the Organization, the estimated impacts from the adoption of IFRS 9 will represent, according to the best estimates, a reduction of approximately 2% (R$ 2,<FONT style="FONT-SIZE: 10pt" face=Arial>2</FONT> billion) of shareholders&#8217; equity, net of tax effects.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(i)&nbsp;&nbsp;&nbsp;&nbsp; Classification - Financial assets</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 contains a new approach of classification and measurement of financial assets, where the entity considers not only the business model for the management of financial assets but also the features of contractual cash flow of the financial asset.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 eliminates the categories existing in IAS 39 and classifies the financial assets into three categories: (i) measured at amortized cost; (ii) measured at fair value through other comprehensive income (FVTOCI); and (iii) measured at fair value through profit or loss (FVTPL).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Pursuant to IFRS 9, derivatives embedded in agreements where the host asset is in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification and usually classified as <FONT style="FONT-SIZE: 10pt" face=Arial>FVTPL</FONT>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Based on the evaluation, the Organization does not believe that the new classification requirements, when applied from January 1, 2018, will have material impact on the recording of accounts receivable, loans and advances, investments in debt securities and investments in equity securities measured at fair value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>On December 31, 2017, the Organization had equity investments classified as available for sale with fair value of R$ 11,038 millions which are held for long-term strategic purposes. Pursuant to IFRS 9, the Organization, on current best estimates, could designate these instruments as VJORA. Thus, all fair value gains and losses should be recorded in other comprehensive income, with no impairment losses recognized in the income (loss) and no gain or loss is recycled to the income (loss) upon realization.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(ii)&nbsp;&nbsp;&nbsp; Impairment &#8211;Financial instruments</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 replaces the model of &#8220;incurred losses&#8221; of IAS 39 with a prospective model of &#8220;expected losses&#8221;. This will require relevant judgment as to how changes in economic factors affect expected credit losses, which will be determined based on weighted probabilities. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The new model of expected losses will apply to the financial instruments measured at amortized cost or VJORA (except for investments in equity instruments). </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Pursuant to IFRS 9, the provisions for expected losses will be measured on one of the following bases:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8722; Expected loan losses for 12 months, that is, loan losses resulting from all possible events of default within 12 months from the report date; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8722; Expected loan losses for the entire life, that is, loan losses resulting from all possible events of default over the expected life of a financial instrument.</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-148</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The measurement of expected losses for the entire life is applied when the credit risk of a financial asset, on the report date, has significantly increased since its first recognition, and the measurement of loan loss for 12 months is applied when the loan risk has not significantly increased since its first recognition. An entity may determine that the loan risk of a financial asset did not significantly increase when the asset has low credit risk on the date of the report.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The Organization believes that impairment losses will increase and become more volatile than the current ones, for the assets assessed in the model of IFRS 9. Based on the methodology of allowance for loan losses adopted, the Organization estimated, on current best estimates, that the application of the impairment requirements of IFRS 9 on January 1, 2018 would result in additional allowance for loan losses, as described in the table below:</FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ millions</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Provision for additional estimated credit losses on January 1, 2018</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Credit portfolio (1)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,829 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Securities</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 842 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total gross additional provisions</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>4,671 </FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 55.3pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(1) includes commitments and financial guarantees provided</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The following analysis provides additional details on the methodology adopted and on the impact</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>estimated on January 1, 2018.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Impairment of financial instruments</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Expected loan losses were calculated based on experience of actual loan losses in the past years. The Organization calculated the rates of expected loan losses based on the features of each portfolio, that is, it used quantitative models for loans assessed in a group and a combination of quantitative and qualitative models for large companies. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The experience of actual loan losses was adjusted to reflect the differences between economic conditions during the period in which the historical data were collected, current conditions and the Organization&#8217;s view of future economic conditions.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The table below, on current best estimates, provides information on the estimated exposure to loan risk and expected loan losses and advances, commitments, financial collaterals provided and Private Debt Securities, on January 1, 2018.</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>R$ millions</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><I><FONT style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></I></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Estimated Exposure to Credit Risk</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 250%" color=black face=arial,sans-serif>Expected Loss</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Expected Loss on Estimated Exposure to Credit Risk</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Stage 1</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp; 432,416 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 7,688 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>2%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Stage 2</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 51,853 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 7,581 </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>15%</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Stage 3</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; 37,277 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="23%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp; 17,779 </FONT></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>48%</FONT></P></TD></TR>

<TR style="HEIGHT: 12.75pt">

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="31%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Total</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp; 521,546 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BORDER-RIGHT: windowtext 1pt solid; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="23%" colSpan=2>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>&nbsp;&nbsp; 33,048 </FONT></B></P></TD>

   <TD style="HEIGHT: 12.75pt; BACKGROUND: #bfbfbf; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="23%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>6%</FONT></B></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Stage 1: Financial instruments that do not present significant deterioration in credit quality;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Stage 2: Financial instruments that present significant deterioration in credit quality; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Stage 3: Financial instruments that indicate that the obligation will not be fully honored.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>With respect to Government Bonds, the Organization internally developed a study for loan risk evaluation of these bonds, which is not expected to be lost for the next 12 months, that is, there is no need of allowance for loan losses.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-149</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(iii)&nbsp;&nbsp; Classification &#8211; Financial liabilities</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 maintains most part of the requirements of IAS 39 regarding the classification of financial liabilities.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>But, pursuant to IAS 39, the fair value variations of liabilities designated as&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>FVTPL</FONT> are recognized in the income (loss), whereas pursuant to IFRS 9, these changes of fair value should be presented as follows:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the fair value variation that is attributable to changes in the loan risk of financial liabilities</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>should be presented in Other comprehensive income (O<FONT style="FONT-SIZE: 10pt" face=Arial>CI</FONT>); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8226;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the remaining value of the fair value variation should be presented in the income (loss).</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>The Organization does not intend, in its best current estimates, to assign financial liabilities to the VJR. The evaluation conducted by the Organization did not indicate any material impact if the requirements of IFRS 9, regarding the classification of financial liabilities, were applied on January 1, 2018.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(iv)&nbsp;&nbsp; Hedge Accounting</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Upon the first adoption the Organization opted to continue to apply the requirements of IAS 39 for hedge accounting, as permitted by IFRS 9 until the conclusion by the IASB of the macro-hedge project and the finalization of the hedge accounting section.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 requires that the Organization ensures that the hedge accounting relations are aligned with its risk management purposes and strategies and that the Organization adopt a more qualitative and prospective approach to assess hedge effectiveness. IFRS 9 also introduces new requirements for re-balance of hedge relations and prohibits the voluntary discontinuance of the hedge accounting if inconsistent with the risk management strategies of the entity.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(v)&nbsp;&nbsp;&nbsp; Disclosures</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 9 will demand new disclosures, mainly related to expected loan losses, credit risk and hedge accounting. The Organization&#8217;s evaluation includes an analysis to identify the disclosure detail levels of the deficiencies in relation to the information required and current processes, and also implementations and improvements of controls in order to meet the new requirements.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>(vi)&nbsp;&nbsp; Transition</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>Changes in accounting policies resulting from the adoption of IFRS 9 will be applied retrospectively on the date of initial application.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8722; The Organization opted for the exemption under the Standard of not restating comparative information from prior periods derived from changes in the classification and measurement of financial instruments (including expected loan). The differences in the accounting balances of financial assets and liabilities resulting from the adoption of IFRS 9 will be recognized in Retained Earnings on January 1, 2018.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>&#8722; Based on the facts and circumstances existing on the date of first adoption the Organization is performing the following evaluations:</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;&nbsp;&nbsp;&nbsp;&nbsp; <FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>determination of the business model in which a financial asset is held.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;<FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>designation and cancellation of prior designations of certain financial assets and liabilities measured at VJR; and</FONT></FONT>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;<FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>designation of certain investments in equity instruments not held for trading as VJORA.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 15 &#8211; Revenue from Contracts with Customers &#8211; requires that revenue is recognized so as to reflect the transfer of goods or services to the client for an amount that represents the </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt 14.15pt" align=right><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT>&nbsp;</P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-150</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=black face=arial,sans-serif>Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS)</FONT></P></DIV>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT color=windowtext face=arial,sans-serif><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face=arial,sans-serif>Notes to the Consolidated Financial Statements</FONT></I></B></FONT></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>company&#8217;s expectation of having rights to these goods or services by way of consideration. IFRS 15 replaces IAS 18, IAS 11, and related interpretations (IFRICs 13, 15 and 18), and shall be applicable from January, 2018. We conducted a study on the recognition of revenue from customer contracts and concluded that there would be no significant&nbsp;impact on the Organization.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 16 &#8211; Leases. The main changes in relation to IAS 17 for lessees are: (i) there is no longer classification in operating and financial leases; and (ii) all leasing operations are&nbsp;<FONT style="FONT-SIZE: 10pt" face=Arial>accounted</FONT> in liabilities, and interest and liabilities must be recognized in depreciation / amortization, using the current financial lease procedure. There are optional exemptions for short-term leases and leases of low-value items. Lessor accounting remains similar to the current standard, as lessors continue to classify leases as finance or operating leases. IFRS16 replaces IAS17 and will be applicable as of January 1, 2019 and the possible impacts arising from the adoption of this amendment are being evaluated, and will be concluded by the date of entry into force of the standard.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRS 17 - Insurance Contracts. Establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the Standard. The purpose of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts. This information provides a basis for accounting firm users to evaluate the effect that insurance contracts have on the Company's financial position, financial performance and cash flows. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 49.65pt; TEXT-INDENT: -14.15pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=arial,sans-serif>IFRIC 23 - Applies to any situation where there is uncertainty as to whether an income tax treatment is acceptable under tax law. The scope of the Interpretation includes all taxes covered by IAS 12, that is, both current and deferred tax. However, it does not apply to uncertainty regarding taxes covered by other standards. IFRIC 23 becomes operative for financial periods beginning on or after January 1, 2019. The possible impacts arising from the adoption of this amendment are being evaluated and will be concluded by the date of entry into force of the standard. </FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>43)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Other information</FONT></B></H1>

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<LI style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In June, 2017, Bradesco has&nbsp;signed definitive documents with Banco do Brasil S.A., Banco Santander (Brasil) S.A., Caixa Econ&#244;mica Federal and Ita&#250; Unibanco S.A., in order to create a holding company of credit intelligence ("GIC"), which will develop a database with the goal of adding, reconciling and handling database and credit-related information, of individuals and legal entities, which expressly authorize their inclusion in the database, as required by the applicable rules.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Univers 45 Light"> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The control of the company will be shared, with each party holding 20% of its capital. The necessary capital contribution occurred in July 2017.</FONT> </LI></OL>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>2.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Unconsolidated structured entities are unconsolidated entities that the Organization does not control, but which have a contractual and non-contractual involvement, and provide variability of returns arising from the performance. The organization has an involvement with structured entities through management of investment funds and portfolios making management fees and consortium management.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The main unconsolidated structured entities are, (i) the investment funds managed by Organization, whose nature and involvement, generating management fees and investment in units for funds, the assets of managed funds and non consolidated in 2017 were R$&nbsp;338,846,142 thousand (2016 - R$&nbsp;426,390,575 thousand) and revenues earned in 2017 were R$&nbsp;1,463,469 thousand (2016 - R$&nbsp;1,079,653 thousand) and (ii) the consortium which nature and involvement is related to generation management fees of consortium quotas, represented by groups of quotaholders formed to aquire specific goods, whose assets in 2017 were R$&nbsp;74,323,031 thousand (2016 &#8211; R$ 71,075,119 thousand) and the revenues were in 2017 R$ 1,526,660 thousand (2016 &#8211; R$&nbsp;1,278,753&nbsp;thousand).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>3.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In May, 2016, occurred the</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#222222 face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>indictment of three members of its Bradesco&#8217;s Executive Board of Directors by the Federal Police, in the scope of the so-called "Operation Zealots". On July, 2016, the Federal Public Prosecution filed an accusation against all three members of the Board of Executive Officers and a former member of its Board of Directors, which was received by the Judge of the 10th Federal Court of Judicial Section of the Federal District. The Management conducted a thorough internal evaluation of the records and documents related to the indictment and found no evidence of </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif><FONT face=arial,sans-serif><U><FONT lang=PT-BR color=black><FONT style="FONT-SIZE: 6pt; FONT-FAMILY: Arial">Bradesco</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-151</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></FONT><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT></U></FONT></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>any illegality committed by its representatives. The executives of Bradesco have already submitted their respective </FONT><FONT lang=EN style="FONT-SIZE: 10pt" color=#222222 face=arial,sans-serif>answers to the prosecution,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif> pointing out the facts and evidence demonstrating their innocence. The process has already had its investigation phase closed, now await the final allegations and sentence of the first degree trial. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>In parallel to his defense, the Chairman of the Board of Executive Officers of Bradesco, Mr. Luiz Carlos Trabuco Cappi, presented a petition for habeas corpus to the Regional Federal Court (Tribunal Federal Regional) &#8211; 1st Region. After processing the motion for habeas corpus, the 4th Panel of the aforementioned Court, by unanimous decision, excluded him from criminal proceedings, due to lack of just cause. This procedure is under appeal to STJ (Superior Court of Justice). The same habeas corpus was extended to the former member of the Board of Directors, previously indicted.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>Bradesco provided all the information requested to the competent regulatory bodies, in Brazil and abroad. Moreover, Bradesco was summoned by the General&#180;s Office of the Ministry of Finance on the filing of an Administrative Proceeding ("PAR"). This process, which is in the pre-trial phase, may entail the possibility of application of a fine and/or mention on public lists, which may eventually lead to restrictions on business with public agencies.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>On account of the news published in the media, on the indictment in the "Operation Zealots", a class action was filed in the District Court of New York, on June 3, 2016. On September 1, 2016, Bradesco spontaneously attended the proceedings of the Class Action and agreed with the plaintiff a term for the submission of the revocation of the suit until December 23, 2016. On October 21, 2016, the Plaintiff Leader presented the addendum of the Initial Petition, appointing as defendants Bradesco and three members of its Board of Executive Officers. According to the demand, investors who purchased preferred American Depositary Shares (&#8220;ADS&#8221;) of Bradesco between April 30, 2012 and July 27, 2016 would have suffered losses provoked by Bradesco due to a supposed violation regarding the American law of capital markets, according to communication to the Market on May 31, June 8 and July 28, 2016. On December 23, 2016, Bradesco filed a motion to dismiss the process, which &#8211; following a reply from the Lead Plaintiff and a rejoinder from Bradesco, and on September 29, 2017, the Judge decided the following: (i) the Court partially upheld and rejected the termination request, limiting the proposed class to investors who purchased American Depositary Shares ("ADS") Bradesco between August 8, 2014 and July 27, 2016; and (ii) the Court granted to the Lead Plaintiff a 30-day term to present an addendum to the initial request. After said term, on October 30, 2017, the Lead Plaintiff informed the Judge that it will not present any amendments. Thus, the demand will lead to the discovery phase, so the limitation of the aforementioned class would be maintained. Given the current phase of the demand, it is not possible to perform a risk analysis and, besides, there are no elements to support the assessment of the amount of said risk.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 35.45pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>4.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=arial,sans-serif>The wholly-owned subsidiaries of Bradesco, BEM - Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda. and BRAM - Bradesco Asset Management S.A. Distribuidora de T&#237;tulos e Valores Mobili&#225;rios, as well as two of its Managers, were mentioned in the scope of the so-called "Greenfield operation" of the Federal Police, because they were responsible for the administration and management of the Fund in Equity - FIP (Equity Investment Fund), respectively. Besides providing the documents, the Federal Court has ruled, in the course of this Operation, the blocking of these companies&#8217; values. As a result of this, a Commitment was signed, approved by the 10th Federal Court of the Federal District, to release the values through the provision of guarantees of up to R$104 million, without the recognition of any civil or criminal liability on the part of companies or administrators of the Organization. In the scope of this commitment, managers and officers of the Organization committed to provide any clarifications to the authorities responsible for conducting this investigation, regardless of a formal subpoena.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>5.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In July 2017, Bradesco Seguros SA ("Bradesco Seguros") and Swiss Re Corporate Solutions Ltd. ("Swiss Re Corso") concluded the transaction, by means of a shareholder agreement, whereby: (i) Swiss Re Corporate Solutions Brasil Seguros S/A ("Swiss Re Corporate Solutions Brazil") took over part of the P&amp;C (Property and Casualty) insurance operations, such as, Aeronautical, Marine, Civil </FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 28.35pt; TEXT-INDENT: -28.35pt"><FONT face=arial,sans-serif><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT style="DISPLAY: none"><U><FONT lang=PT-BR style="FONT-SIZE: 6pt" color=black face=arial,sans-serif></FONT></U></FONT></FONT><B><FONT><FONT style="BACKGROUND: darkgray" color=white face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt; BACKGROUND: darkgray" color=white face=arial,sans-serif><FONT style="FONT-SIZE: 9pt" face=Arial>F-152</FONT></FONT></B></FONT></FONT></B><FONT face=arial,sans-serif><U><FONT lang=EN-US style="FONT-SIZE: 6pt" color=black face=arial,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp; IFRS &#8211; International Financial Reporting Standards &#8211; 2017</FONT></U></FONT></P></DIV>

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<FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>Liability and shipments from Bradesco Seguros ("Large Risks Insurance"), with exclusive access to Bradesco customers to explore the commercialization of Large Risks Insurance; and (ii) Bradesco Seguros held a 40% interest in Swiss Re Corporate Solutions Brasil represented by a total of 172,560,054 book entry shares, common and nominative in the amount of R$363,103 thousand, and 60% remained with Swiss Re Corso. The transaction was approved by the Private Insurance Superintendence (Susep), the Administrative Council for Economic Defense (Cade) and the Central Bank (Bacen). The association includes exclusive access to the distribution network of Bradesco Seguros, comprised of more than 140 branches, more than 4,700 branches of Banco Bradesco and approximately 40,000 registered brokers and insurance agents. As part of the transaction, approximately 120 large risk experts from Bradesco Seguros, in S&#227;o Paulo and Rio de Janeiro, joined Swiss Re Corporate Solutions Brasil Seguros S/A. The investment totals R$490,000 thousand, recorded by Bradesco Seguros S.A., includes goodwill on the acquisition of shares in the amount of R$126,897 thousand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>6.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In May 2017, Bradesco &#8211; as an indirect holder of equity interest in IRB - announced to shareholders that had authorized IRB to submit: (i) application for registration as a publicly-held company and for authorization of initial public offering of IRB, pursuant to CVM Instructions 400/03 and 480/09; and (ii) application for registration of secondary public distribution of common shares issued by IRB, pursuant to CVM Instruction 400/03. In July 2017, Bradesco announced that the documents were filed in compliance with the requirements formulated by CVM in the context of the Secondary Public Offering of IRB&#8217;s common shares and the closing of the bookbuilding procedure of the Offering, which defined the price per share at R$27.24. 14,040,000 shares were sold in the Base Offering and then the entire supplementary lot totaling 16,206,387 shares. Bradesco indirectly holds 47,520,213 shares and a 15.23% interest in the capital stock of IRB.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>7.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In July 2017, Bradesco launched a Special Voluntary Severance Program Scheme (PDVE), in which the Organization's employees who fulfilled the requirements established in the regulations of the respective plan may join. The deadline for joining the plan ended in late August 2017, with the adhesion of 7.4 thousand employees, and a total cost of R$2.3 billion. The estimated annual effect on personnel expenses is a reduction of R$1.5 billion.</FONT></P>

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<H1 style="MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>44)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=Arial,sans-serif>Subsequent events</FONT></B></H1>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 32.2pt; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>1.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=black face=arial,sans-serif>In January 2018, Bradesco carried out credit assigned loans, already written off to loss, without retention of risks and benefits, with a face value of R<FONT style="FONT-SIZE: 10pt" face=Arial>$</FONT> 5,323,120 thousand, whose sale value was R$ 110,189 thousand.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 150pt 0pt 151.25pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=windowtext face=arial,sans-serif>Denise Pauli Pavarina</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 64.6pt 0pt 65.55pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=windowtext face=arial,sans-serif>Executive Managing Officer and Investor</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: 0.05pt" color=black face=arial,sans-serif>R</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>e</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>l</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>atio</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>n</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>s Of</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>f</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>i</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.05pt" color=black face=arial,sans-serif>c</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>er</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 149.35pt 0pt 150.55pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>Fa</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.15pt" color=black face=arial,sans-serif>x</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>:</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif> </FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: 0.05pt" color=black face=arial,sans-serif>(</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>1</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: 0.05pt" color=black face=arial,sans-serif>1</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>) 3</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>6</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>84</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: 0.05pt" color=black face=arial,sans-serif>-</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>4</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>6</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt; LETTER-SPACING: -0.1pt" color=black face=arial,sans-serif>3</FONT><FONT lang=EN-US style="FONT-SIZE: 13.5pt" color=black face=arial,sans-serif>0</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 114.15pt 0pt 115.5pt" align=center><FONT lang=EN-US style="FONT-SIZE: 13.5pt; COLOR: #0000ff; LETTER-SPACING: -0.2pt; LINE-HEIGHT: 15.25pt" face="Univers 45 Light"><U>diretoria.executiva@bradesco.com.br</U></FONT></P>

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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>exhibit01_1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:16pt;line-height:110%;">Banco Bradesco S.A.</font></b></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:16pt;line-height:110%;">Corporate Bylaws</font></b></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;line-height:110%;">Section I - Organization, Duration and Headquarters</font></b></font></p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 1)&nbsp;&nbsp;&nbsp; Banco Bradesco S.A., a publicly-held company, hereinafter referred to as the Company, is governed by these Bylaws.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Sole Paragraph - </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">With the admission of the Company on June 26, 2001, &nbsp;in the &nbsp;special listing segment called Level 1 of Corporate Governance of B3 S.A. - Brasil, Bolsa, Balc&#227;o (B3), the Company, its shareholders, officers and members of the Fiscal Council are subject to the provisions of the Corporate Governance Level 1 Listing Regulation of the B3 (Level 1 Regulation). The Company, its officers and shareholders must also observe the provisions of the Regulation for Listing of Issuers and Admission to Trading of Securities, including the rules concerning the withdrawal and exclusion of trading of securities admitted to trading on Organized Markets managed by B3.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 2)&nbsp;&nbsp;&nbsp; The Company&#8217;s term of duration is indefinite.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 3)&nbsp;&nbsp;&nbsp; The Company&#8217;s headquarter and jurisdiction are located in the administrative center called &#8220;Cidade de Deus&#8221;, in Vila Yara, city and judicial district of Osasco, State of S&#227;o Paulo.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 4)&nbsp;&nbsp;&nbsp; The Company may set up or close Branches in the Country, at the discretion of the Board of Executive Officers, and Abroad, upon the additional approval of the Board of Directors, hereinafter referred to as the Board, which shall also be responsible for approving the incorporation and/or closure of any other Areas/Subsidiaries of Bradesco outside the national territory.</font></font></p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;line-height:110%;">Section II - Corporate Purpose</font></b></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 5)&nbsp;&nbsp;&nbsp; The Company&#8217;s corporate purpose is to perform general banking activities, including foreign exchange transactions.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">1</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p></div></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section III - Capital Stock</font></b></font></p>

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<p style="margin:0in 0in 0pt 63.8pt;text-align:justify;text-indent:-63.8pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 6) The capital stock is R$67,100,000,000.00 (sixty-seven billion and one hundred million reais), divided into 6,719,858,095 (six billion, seven hundred and nineteen million, eight hundred and fifty-eight thousand, ninety-five) book-entry, registered shares, with no par value, of which 3,359,929,223 (three billion, three hundred and fifty-nine million, nine hundred and twenty-nine thousand, two hundred and twenty-three) are common shares and 3,359,928,872 (three billion, three hundred and fifty-nine million, nine hundred and twenty-eight thousand, eight hundred and seventy-two) are preferred shares.</font></font></p>

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<p style="margin:0in 0in 0pt 63.8pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph One - </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Common shares will provide to its holders the rights and privileges provided for by law. In case of a public offer arising from the transfer of the Company&#8217;s control, the common shares that are not part of the controlling group shall be entitled to receive one hundred percent (100%) of the amount paid per common share owned by the controlling shareholders.</font></font></p>

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<p style="margin:0in 0in 0pt 63.8pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -&nbsp; Preferred shares will have no voting rights, but will entitle&nbsp;&nbsp; their holders to the following rights&nbsp; and privileges: </font></font></p>

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<p style="margin:3pt 0in 3pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">priority in the reimbursement of capital stock in case of liquidation of the Company;</font></font></p>

<p style="margin:3pt 0in 3pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;"> </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">dividends ten percent (10%) higher than those attributed to common shares;</font></font></p>

<p style="margin:3pt 0in 3pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">c)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">inclusion in a public offer arising from the transfer of control of the Company, entitling their holders to receive a price equal to eighty percent (80%) of the amount paid per common share in the controlling block.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event of a capital increase, at least fifty per cent (50%) of the capital will be paid&nbsp; at&nbsp; the &nbsp;time of subscription and the remaining amount will be paid through a Board of Executive Officers&#8217; call, as per legal precepts.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">2</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Four </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">-</font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">The Company&#8217;s shares are all book-entry, being kept into deposit accounts in the Company, issued in favor of their holders, without issuance of certificates, whereby the shareholders may be charged for the cost of the service regarding the transfer of ownership of these shares.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Five</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following actions will not be permitted: </font></font></p>

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<p style="margin:2pt 0in 0pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">conversion of common shares into preferred shares and vice versa;</font></font></p>

<p style="margin:2pt 0in 0pt 85.1pt;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;"> </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:14pt;line-height:110%;">issue of participation certificates</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Six</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp; The Company may, upon the authorization of the Board&nbsp; of&nbsp; Directors,&nbsp; acquire&nbsp; shares&nbsp; issued&nbsp;&nbsp; by&nbsp; the Company itself, for cancellation or temporary maintenance in treasury, and posterior sale.</font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;line-height:110%;">Section IV - Management</font></b></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 7)&nbsp;&nbsp;&nbsp; The Company will be managed by a Board of Directors and a Board of Executive Officers.</font></font></p>

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<p style="margin:1pt 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph One </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">-</font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;"> </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">The positions of Chairman of the Board of Directors&nbsp; and Chief Executive Officer cannot be cumulated by the same person, except for the assumptions of vacancy which shall be purpose of specific disclosure to the market and to which measures shall be taken to fill in respective positions within one hundred and eighty (180) days.</font></font></p>

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<p style="margin:1pt 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Two </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">-</font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;"> </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">The investiture of members of the Board of Directors&nbsp; and&nbsp; Board of Executive Officers shall be subject to the previous signature of the Management Statement of Consent, pursuant to Level 1 Regulation, as well as the compliance with applicable legal requirements.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">3</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> - The members of the Board of Directors and of the Board of Executive Officers will have a unified mandate term of two (2) years, wherein reelection is permitted, which will extend until the investiture of new elected managers.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Four</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> - Notwithstanding the provisions of the preceding</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">&nbsp;Paragraph, the members of the Board of Executive Officers shall exercise their terms only until the day on which they reach sixty-five (65) years of age.</font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section V - Board of Directors</font></b></font></p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 8)&nbsp;&nbsp;&nbsp; The Board of Directors will be constituted by six (6) to ten (10) members elected by the Shareholders&#8217; Meeting, who will choose, among themselves, in accordance with the provisions of Paragraph One of Article 7, one (1) Chairman and one (1) Vice-Chairman.&nbsp; </font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph One -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">The Board&#8217;s decisions will only be valid if supported by the absolute majority of the effective members, including the Chairman, who will have the casting vote, in the event of a tie.</font></font></p>

<p style="margin:0in 0in 0pt 63pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> &#8211; The participation of any member, absent for justifiable&nbsp; reason&nbsp; will&nbsp;&nbsp; be&nbsp; admitted, by means of teleconference or videoconference or by any other means of communication that can ensure the effectiveness of his/her participation, with his/her vote considered valid for all legal purposes.</font></font></p>

<p style="margin:0in 0in 0pt 63pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event the position of the Chairman of the Board&nbsp; being vacant or the Chairman being absent or temporarily unavailable, the Vice Chairman will take over. In the absence or temporary unavailability of the Vice Chairman, the Chairman will appoint a substitute among other Board members. In the event of a vacancy of the Vice Chairman&#8217;s position, the Board will appoint a substitute, who will serve for the time remaining to complete the term of office of the replaced member.</font></font></p>

<p style="margin:0in 0in 0pt 63pt;text-align:justify;">&nbsp;</p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">4</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Four</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event of temporary or permanent leave of any other member, the&nbsp; remaining&nbsp; members&nbsp; may appoint a substitute, to serve on a temporary or permanent basis, with due regard to the precepts of law and of these Bylaws.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 9)&nbsp;&nbsp;&nbsp; In addition to the duties set forth by law and these Bylaws, the Board's responsibilities and duties include the following:</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a) to ensure that the Board of Executive Officers is always rigorously capable of performing its duties;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b) to make sure that the corporate business is being conducted with probity, in order to preserve the Company&#8217;s credibility;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">c) to maintain management continuity, whenever possible, which is highly recommended for the stability, prosperity and security of the Company;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">d) to establish the general guidelines of the Company&#8217;s business, as well as to resolve on the constitution and performance of Operational Portfolios;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">e) to authorize, in cases of operations with companies not composing the Bradesco Organization, the acquisition, disposal and encumbrance of assets composing the permanent Assets and nonpermanent equity interest of the Company and its direct and indirect subsidiaries, when referring to amounts higher than one per cent (1%) of their respective Shareholders&#8217; Equity;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">f) to decide on trades involving shares issued by the Company, in accordance with Paragraph Six of Article 6;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">g) to authorize the granting of any kind of donation, contribution or aid, regardless of the beneficiary;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">h) to approve the payment of dividends and/or interest on shareholders&#8217; own capital proposed by the Board of Executive Officers;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">i) to submit to Shareholders&#8217; Meetings appreciation proposals aiming at increasing or reducing the capital stock, share grouping, bonuses or splits, merger, incorporation or spin-off transactions and reforms in the Company&#8217;s Bylaws;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">j) manifest themselves in relation to any public offer having as object shares or securities that can be converted or exchanged for shares of the Company, which shall contain, among other relevant information, the opinion of the Management about the possible </font></font>


<font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">acceptance of the public offer and of the economic value of the Company;</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">5</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>




<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">k) manifest themselves on corporate events which may give rise to a change of control, determining if they ensure fair and equitable treatment to shareholders of the Company;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">l) to deliberate upon associations, involving the Company or its Subsidiaries, including participation in shareholders&#8217; agreements;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">m)&nbsp;&nbsp;&nbsp;&nbsp; to approve the investment of resources resulting from fiscal incentives;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">n) to examine and resolve on budgets and financial statements submitted by the Board of Executive Officers;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">o) to assume decision-making powers on specific matters of the Company&#8217;s interest and to deliberate upon defaulting cases;</font></font></p>

<p style="margin:0in 0in 0pt 85.05pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; limited to the total annual amount approved by the Shareholders&#8217; Meeting, to distribute the compensation and social security amounts of the Managers;</font></font></p>

<p style="margin:0in 0in 0pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">q) to authorize, whenever necessary, the representation of the Company by a member of the Board of Executive Officers individually or by an attorney, in which case a respective mandate will indicate what actions may be practiced;</font></font></p>

<p style="margin:0in 0in 0pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">r) to establish the remuneration of the Audit Committee members, observing the market&#8217;s parameters; and</font></font></p>

<p style="margin:0in 0in 0pt 85.1pt;text-align:justify;text-indent:-14.2pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">s) to approve the Corporate Report on Internal Controls Conformity and determine the adoption of strategies, policies and measures focused on the diffusion of a controlling and risk mitigation culture.</font></font></p>

<p style="margin:0in 0in 0pt 1in;text-align:justify;text-indent:-9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Sole Paragraph</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors may assign special duties to the Board of Executive Officers and to any of its members, as well as establishing committees to deal with specific matters in the scope of the Board of Directors.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-75.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 10)&nbsp;&nbsp; The Chairman of the Board shall preside the meetings of the Body, subject to the provisions of the Paragraph Three of Article 8.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:1.1pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Sole Paragraph</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Chairman of the Board may call the Board of Executive Officers and participate, together with other Board members, in any of its meetings.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">6</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 11)&nbsp; The Board shall meet regularly six (6) times per year, and in special sessions when the interests of the company so require, convened by its Chairman or half of the other active members, whereby the minutes should be drawn up of each meeting held.</font></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;line-height:110%;">Section VI - Board of Executive Officers</font></b></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 12) The Company&#8217;s Board of Executive Officers is elected by the Board of Directors, and will be composed of eighty-three (83) to one hundred and eight (108) members, distributed, at the Board's discretion, as follows: i) seventeen (17) to twenty-seven (27) Executive Officers, with one (1) Chief Executive Officer and sixteen (16) to twenty-six (26) Officers distributed among the positions of Executive Vice-President, Managing Officer and Deputy Officer; and ii) sixty-six (66) to eighty-one (81) Officers, distributed among the positions of Department Officer, Officer and Regional Officer.</font></font></p>

<p style="margin:0in 0in 0pt 177.2pt;text-align:justify;text-indent:-106.3pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:95%;">Paragraph One</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors shall establish, in the first meeting of the Body that takes place after the Annual Shareholders&#8217; Meeting that elected them, and whenever necessary, the number of officers to be elected, designating them, by name, within the positions in the &#8220;caput&#8221; of this Article, subject to the provisions of Paragraph One of Article 7 and the requirements of Articles 17, 18 and 19 hereof.</font></font></p>

<p style="margin:0in 0in 0pt 177.2pt;text-align:justify;text-indent:-106.3pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The requirements provided for in Articles 18 and 19 may be exceptionally waived by the Board of Directors up to the limit of one fourth (&#188;) of the positions of the Board of Executive Officers, except in relation to the Officers appointed to the positions of Chief Executive Officer and Executive Vice-President.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 13)&nbsp; The Officers shall manage and represent the Company, having powers to bind it in any acts and agreements of its interest. The Officers may condescend and waive rights and acquire, sell and encumber assets, observing the provisions of Paragraph Four of this Article and letter &#8220;e&#8221; of Article 9 of the present Bylaws.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">7</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT><FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 16pt">Banco Bradesco S.A.</FONT></B></FONT></FONT></FONT></P>

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<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT><FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 16pt">&nbsp; </FONT></B></FONT></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 16pt">Corporate Bylaws</FONT></B></FONT><FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 16pt">&nbsp;&nbsp; </FONT></B></FONT></FONT></FONT></H3>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt"><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 14pt">Paragraph One</FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Which due reservation to the exceptions expressly set &nbsp;forth &nbsp;herein, &nbsp;the Company will only be bound by the joint signatures of at least two (2) Officers, one of whom will be the Chief Executive Officer or Executive Vice President.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 184.3pt; TEXT-INDENT: -112.3pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: 1.1pt"><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 14pt">Paragraph Two -&nbsp;</FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">The Company may also be represented by at least one (1) Officer and one (1) attorney, or by at least two (2) proxies, jointly, especially consisting of two (2) officers, as described in the previous paragraph, in which case the respective power of attorney will establish their powers, the acts they may practice and its duration.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 184.3pt; TEXT-INDENT: -112.3pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: 1.1pt"><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: normal">Paragraph Three -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: normal">The Company may be also severally represented by any member of the Board of Executive Officers or by attorney with specific powers, in the following cases:</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">a)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">powers of attorney with "ad judicial" clause, assumption in which the power of attorney may have an indeterminate duration and be empowered;&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">b)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">receive judicial or extrajudicial summons or services of process;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">c)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 95%">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=PT-BR style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">participation in biddings</FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">d)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 95%">&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">representation in Shareholders&#8217; Meetings or Quotaholders&#8217; Meetings of companies or investment funds in which the Company holds interest, as well as of entities in which it is partner or affiliated company;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">e)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 95%">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">representation in public agencies and authorities, provided that this does not imply the assumption of responsibilities and/or liabilities by the Company;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">f)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=PT-BR style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">in &#8220;legal testimonies&#8221;</FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0.95pt 0pt 1.25in; TEXT-INDENT: -0.25in"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">g)</FONT></FONT><FONT face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 95%">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">before the certifying entities to obtain digital certificates.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: 1.1pt"><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">Paragraph Four -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">In addition to the regular duties conferred upon them by law and by the present Bylaws, each member of the Board of Executive Officers will have the following responsibilities.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 70.9pt; TEXT-INDENT: -70.9pt"><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt; LINE-HEIGHT: 95%">Article 14)&nbsp; In addition to the regular duties conferred upon them by law and by the present Bylaws, each member of the Executive Board will have the following responsibilities: </FONT></FONT></P>

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<DIV style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 1pt; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 12pt">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</FONT></FONT></FONT><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt"> </FONT></FONT></FONT><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 12pt">Page </FONT></FONT></FONT><FONT><FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt">8</FONT></B></FONT></FONT></FONT><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 12pt"> de </FONT></FONT></FONT><FONT><FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt">17</FONT></B></FONT></FONT></FONT></P>

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: justify; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in"><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 14pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT></FONT></P></DIV></DIV>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;</font></b></font></font></font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">the Chief Executive Officer (CEO) shall: (i) coordinate the execution of the strategic plan outlined by the Board of Directors; (ii) promote the distribution of responsibilities and of the areas the Executive Officers are responsible for; (iii) supervise and coordinate, directly, the actions of the Executive Vice Presidents and, indirectly, of the other members of the Board of Executive Officers; and (iv) preside over the meetings of the Board of Executive Officers; </font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Executive Vice-Presidents shall: (i) cooperate with the CEO in the performance of his/her duties; (ii) replace, when appointed by the Board of Directors, the CEO in his absence or temporary impediment; and (iii) supervise and coordinate, directly, the actions of the Managing Officers and, indirectly, of the other members of the Board of Executive Officers, in the scope of their reporting line; </font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">c)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Managing Officers shall: perform the duties assigned to them, supervising and coordinating the actions of the officers that are in the scope of their reporting line;</font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">d)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Deputy Officers shall: perform the duties assigned to them, supervising and coordinating the actions of the officers that are in the scope of their reporting line; </font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">e)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Department Officers shall: conduct the activities of the Departments they work for; </font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">f)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:13pt;line-height:95%;">Officers shall: perform the duties assigned to them</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">; </font></font></p>

<p style="margin:0in 0in 0pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">g)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:95%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Regional Officers: guide and supervise the Service Branches under their jurisdiction and perform the duties assigned to them.</font></font></p>

<p style="margin:0in 0in 0pt 81pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:95%;">Article 15)&nbsp; The Board of Executive Officers will hold general meetings on a weekly basis, and special meetings whenever necessary. The decisions taken will only be valid when more than half of the effective members attend the respective meeting. The presence of the Chief Executive Officers or his substitute, who will have the casting vote in the case of a tie, is obligatory. The special meetings will be held whenever called by the Chairman of the Board, the Chief Executive Officer or by half of other Executive Officers.</font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:1pt 0in 1pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 16)&nbsp; In the event of vacancy, absence or temporary unavailability of the Chief Executive Officer, it will be responsibility of the Board of Directors to appoint his substitute.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">9</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font></font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:1pt 0in 1pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 17)&nbsp; To exercise the position of Officer it is necessary to dedicate themselves to the Company and observe its internal rules, where the exercise of other activities that conflict with the objectives of the Company is forbidden.</font></font></p>

<p style="margin:1pt 0in;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 18) To be eligible to the position of Executive Officer, the candidate must, on the date of the election, belong to the staff of employees or managers of the Company or associated companies for more than ten (10) years, uninterruptedly, observing the provisions of the Paragraph Two of Article 12 of these Bylaws. </font></font></p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 19) To be eligible to the position of Department Officer, Officer and Regional Officer the candidate must, on the date of the election, belong to the staff of employees or managers of the Company or associated companies, observing the provisions of the Paragraph Two of Article 12 of these Bylaws. </font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section VII - Fiscal Council </font></b></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in 0pt 68.05pt;text-align:justify;text-indent:-68.05pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 20) The Fiscal Council, whose operation will be permanent, will be constituted by three (3) to five (5) effective members and an equal number of substitutes.</font></font></p>

<p style="margin:0in 0in 0pt 68.05pt;text-align:justify;text-indent:-68.05pt;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section VIII - Audit Committee</font></b></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 21)&nbsp; The Company will have an Audit Committee constituted by three (3) to five (5) members, of recognized technical competence, being one (1) Coordinator, appointed and dismissible by the Board of Directors, with a five (5) year term of office, extending up to the investiture of new members appointed.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph One</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> &#8211; The members of the Audit Committee may only return to integrate the body after, at least, three (3) years from the end of the last reappointment allowed.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">10</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font></font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> &#8211; Up to one-third (&#8531;) of the members of the Audit Committee may be reappointed to the body to a single consecutive term only, dispensing the interstitium provisioned in the Paragraph One.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - In addition to those provided for by law or regulations,&nbsp; these&nbsp;&nbsp; are&nbsp;&nbsp; also&nbsp; attributions&nbsp; of&nbsp; the Audit Committee:</font></font></p>

<p style="margin:0in 0in 0pt 63pt;text-align:justify;">&nbsp;</p>

<p style="margin:2pt 0in 4.8pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">to recommend to the Board of Directors the company to be hired for rendering independent auditing services, its respective remuneration, as well as, its replacement;</font></font></p>

<p style="margin:2pt 0in 4.8pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to review financial statements including notes, management reports and independent auditors&#8217; report, prior to their disclosure to the market;</font></font></p>

<p style="margin:2pt 0in 4.8pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">c)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to evaluate the effectiveness of both internal and independent audits regarding the fulfillment of legal and regulatory requirements applicable to the Company, in addition to internal regulations and codes;</font></font></p>

<p style="margin:2pt 0in 4.8pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">d)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to evaluate the fulfillment, by the Company&#8217;s Board of Executive Officers, of recommendations made by either internal or independent auditors, as well as recommending to the Board of Directors the resolution of eventual conflicts between external auditors and the Board of Executive Officers;</font></font></p>

<p style="margin:2pt 0in 4.8pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">e)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to establish and announce the procedures for the acceptance and treatment of information related to noncompliance with legal and regulatory requirements applicable to the Company, in addition to regulations and internal codes, including the recommendation of specific procedures to protect the provider and the confidentiality of the information;</font></font></p>

<p style="margin:2pt 0in 2pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">f)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to recommend to the Company&#8217;s Board of Executive Officers correction or improvement in policies, practices and procedures included in its attributions;</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">11</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

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<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p style="margin:2pt 0in 2pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">g)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to hold meetings, at least on a quarterly basis, with the Company&#8217;s Board of Executive Officers and internal and independent auditors;</font></font></p>

<p style="margin:2pt 0in 2pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">h)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to verify, during its meetings, the fulfillment of its recommendations and/or explanations for its questions, including the planning of respective auditing works. </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:14pt;line-height:110%;">Minutes of all meetings shall be drawn up</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">;</font></font></p>

<p style="margin:2pt 0in 2pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">i)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to establish operating rules for its functioning; </font></font></p>

<p style="margin:2pt 0in 2pt 92.15pt;text-align:justify;text-indent:-21.25pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">j)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">to meet with the Fiscal Council and the Board of Directors, upon their request to discuss policies, practices and procedures identified under the scope of their respective incumbencies.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Four</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> -The member of the Audit Committee may be removed by the Board of Directors at any time during the term of their mandate, in cases of conflict of interest, noncompliance with the obligations inherent to their position or if they have a performance below that expected by the Organization.</font></font></p>

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<p align=center style="margin:1pt 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section IX - Remuneration Committee</font></b></font></p>

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<p style="margin:3pt 0in 3pt 1in;text-align:justify;text-indent:-1in;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 22)&nbsp; The Company will have an organizational component referred to as Remuneration Committee, which shall act on behalf of all Institutions making up Bradesco Organization, composed of three (3) to seven (7) members, appointed and dismissible from office by the Board of Directors, with two (2) years term of office, and one of them shall be designated Coordinator.</font></font></p>

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<p style="margin:0in 0in 2pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph One</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - Members will be appointed among members of the Board of Directors except for one (1) member who necessarily will be non-manager.</font></font></p>

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<p style="margin:2pt 0in 2pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The members of the Board of Directors and the non-manager member, if they are Bradesco Organization&#8217;s employees, will not be compensated for the exercise of their position as members of the Remuneration Committee. When the members are not </font></font>


<font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">employees, when appointed, they will have compensation set forth by the Board of Directors, according to market parameters. </font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">12</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;</font></b></font></font></font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p style="margin:2pt 0in 2pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The members of the Remuneration Committee may&nbsp;&nbsp; be re-elected and they are forbidden to remain in office during a term exceeding ten (10) years. Only after the completion of this term, this member may return to the Committee, after elapsing, at least, three (3) years. </font></font></p>

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<p style="margin:2pt 0in 2pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Fourth</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The Committee shall aim at assisting the Board of Directors on the management compensation policy, pursuant to prevailing laws.</font></font></p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section X - Ombudsman</font></b></font></p>

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<p style="margin:0in 0in 0in 70.9pt;text-align:justify;text-indent:-70.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 23)&nbsp; The Company will have an organizational component of Ombudsman, which will act on behalf of all Institutions of the Bradesco Organization authorized by the Brazilian Central Bank, with one (1) person responsible in the position of Ombudsperson, who will be appointed by the Board of Directors, with a term of office of two (2) years, reelection allowed.</font></font></p>

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<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-3.8pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph One</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The Ombudsman cannot be linked to an&nbsp;&nbsp; organizational&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;component&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of&nbsp;&nbsp;&nbsp;&nbsp; Bradesco Organization in a way that indicates a conflict of interest or duties, like the bargaining units of product and services, the unit responsible for risk management and executive body of the internal audit's activity.</font></font></p>

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<p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - An officer or employee of Bradesco Organization may be appointed as&nbsp; Ombudsperson&nbsp; if&nbsp; he or she has:</font></font></p>

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   <p style="margin:0in 0in 0pt 70.9pt;text-align:justify;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a) </font></font><font face="Times New Roman"><font style="font-size:14pt;">a bachelor&#8217;s degree</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">; </font></font></p></td>
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   <p style="margin:0in 0in 0pt 86.8pt;text-align:justify;text-indent:-15.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b) extensive knowledge of the activities developed by the institutions represented and, its products, services, processes, systems etc.;</font></font></p></td>
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   <p style="margin:0in 0in 0pt 86.8pt;text-align:justify;text-indent:-14.15pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">c) functional capacity to assimilate the issues that are submitted to the Ombudsman, carry out administrative consultations to sectors whose activities were questioned and direct the answers for the questions presented; and&nbsp; </font></font></p></td>
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   <p style="margin:0in 0in 0pt 86.8pt;text-align:justify;text-indent:-15.9pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">d) technical and administrative conditions to comply with other requirements arising from the regulations published on the activities of the Ombudsman.</font></font></p></td>
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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">13</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

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<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

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<p style="margin:0in 0in 0pt 74.2pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 74.2pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The Ombudsman&#8217;s duty shall be the following:</font></font></p>

<p style="margin:0in 0in 0pt 187.85pt;text-indent:-134.65pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">to ensure the strict compliance with the legal and regulatory rules concerning consumer rights and to act as a communication channel between the Institutions under the caput of this Article, customers and users of products and services, including in the mediation of conflicts;</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">receive, register, provide guidance, analyze and give formal and appropriate treatment to complaints from customers and users of products and services of the Institutions under the caput of this Article which were not solved through the usual service carried out by branches or any other service stations;</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">c)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">provide the necessary clarifications and notify the claimants on the progress of their demands and the measures adopted;</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">d)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">inform the claimants of the deadline for the final answer, which may not exceed ten (10) business days and may be extended, exceptionally and in a justified manner, only once for an equal period, with the number of extensions limited to ten percent (10%) of the total number of demands on the month, and the complainant should be informed of the reasons for the extension; </font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">e)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">forward a conclusive answer to the demand of the claimants until the period stated in letter "d";</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">f)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">propose to the Board of Directors remedial or improvement measures for procedures and routines based on the analysis of the complaints received;</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-21pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">g)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">every six months, prepare and submit to the Board of Directors, the Audit Committee and the Internal Audit a quantitative and qualitative report on the Ombudsman's operation, including the proposals mentioned in letter "f", when existing, and keeping them informed of the result of the measures adopted by the institution's management to address them.</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;text-indent:-21pt;">&nbsp;</p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">14</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-3.1pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Four</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - In its absence or temporary disability, the Ombudsperson will be replaced by an official member of the Ombudsman, who meets the requirements of Paragraph Two of this Article. In case of vacancy, the Board will appoint a replacement for the remaining term of office who will complete the term of office of the person replaced.</font></font></p>

<p style="margin:0in 0in 0pt 74.9pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-3.1pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Five</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - The Ombudsman may be dismissed by the Board of Directors at any time during its term of office in cases of noncompliance with the obligations of its office or if it presents a performance below that expected by the Organization.</font></font></p>

<p style="margin:0in 0in 0pt 74.9pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 74.9pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;">Paragraph Six</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> - </font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:14pt;">The Company</font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">:</font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0in 92.4pt;text-align:justify;text-indent:-19.6pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">will maintain adequate conditions for the functioning of the Ombudsman, as well as for its actions to be based on transparency, independence, impartiality and exemption; </font></font></p>

<p style="margin:0in 0in 0in 92.4pt;text-align:justify;text-indent:-19.6pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">will ensure the Ombudsman's access to the information necessary to prepare the appropriate response to the complaints received, with full administrative support, and may request information and documents for the exercise of its activities.</font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section XI - Shareholders&#8217; Meetings</font></b></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p align=left style="margin:0in 0in 0pt 78pt;text-align:left;text-indent:-78pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 24)&nbsp; The Annual and Extraordinary Shareholders&#8217; Meetings will be: </font></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-17.5pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">a)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">called by sending to the shareholders a minimum thirty (30)-day notice;</font></font></p>

<p style="margin:0in 0in 0pt 92.4pt;text-align:justify;text-indent:-17.5pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">b)</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">conducted by the Chairman of the Board, or by his statutory substitute or even by a person nominated by the current Chairman, who will invite one or more shareholders to act as Secretaries.</font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Section XII - Fiscal Year and Income Distribution</font></b></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-78pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 25)&nbsp;&nbsp;&nbsp; The fiscal year coincides with the civil year, ending on December 31. </font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-78pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 26)&nbsp;&nbsp;&nbsp; Balance sheets will be prepared at the end of each semester, on June 30 and December 31 of every year. The Board of Executive Officers, </font></font>


<font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">subject to the approval of the Board of Directors, may determine the preparation of other balance sheets for shorter periods of time, including monthly balance sheets. </font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">15</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>




<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-78pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:-78pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">Article 27)&nbsp;&nbsp;&nbsp; The Net Income, as defined in Article 191 of the Law No. 6,404/76, accounted at every six-month or in the annual balance sheet will be allocated in the following order: </font></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 0in 0pt 99.25pt;text-align:justify;text-indent:-19.45pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">I.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">constitution of the Legal Reserve;</font></font></p>

<p style="margin:0in 0in 0pt 99.25pt;text-align:justify;text-indent:-19.45pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">II.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">constitution of the Reserves set forth in Articles 195 and 197 of the aforementioned Law No. 6404/76, subject to a proposal of the Board of Executive Officers, approved by the Board of Directors and resolved by the Shareholders&#8217; Meeting;</font></font></p>

<p style="margin:0in 0in 0pt 99.25pt;text-align:justify;text-indent:-19.45pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">III.</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;line-height:110%;">&nbsp; </font></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">payment of dividends, proposed by the Board of Executive Officers and approved by the Board of Directors, which, added to interim dividends and/or interest on own capital referred to in Paragraphs One and Two of this Article, given that they are declared, guarantee to the shareholders, at every fiscal year, as amendatory minimum dividend, thirty percent (30%) of the respective net income, adjusted by the decrease or increase of the amounts specified in Items I, II and III of the &#8220;caput&#8221; of Article 202 of the Law No. 6,404/76.</font></font></p>

<p style="margin:0in 0in 0pt 184.3pt;text-align:justify;text-indent:-106.3pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph One</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Executive Officers, subject to the approval of the Board of Directors, is authorized to declare and pay interim dividends, especially semiannual and monthly dividends, resulting from Retained Earnings or existing Profits Reserves.</font></font></p>

<p style="margin:0in 0in 0pt 198.45pt;text-align:justify;text-indent:-117.45pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Two</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Executive Officers may, also, subject&nbsp; to the&nbsp; approval&nbsp; of&nbsp; the&nbsp; Board, authorize the distribution of profits to shareholders as interest on own capital, pursuant to specific legislation, in total or partial substitution of interim dividends, whose declaration is permitted by the foregoing paragraph or, further, in addition thereto.</font></font></p>

<p style="margin:0in 0in 0pt 198.45pt;text-align:justify;text-indent:-117.45pt;">&nbsp;</p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">16</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<p align=center style="margin:0in 0in 0pt;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Banco Bradesco S.A.</font></b></font></font></font></p>

<h3 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp; </font></b></font></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">Corporate Bylaws</font></b></font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:16pt;">&nbsp;&nbsp; </font></b></font></font></font></h3>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;text-indent:3pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Paragraph Three</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp; Any interest eventually paid to the shareholders will be imputed, net of withholding income tax, to the mandatory minimum dividend amount for that fiscal year (30%), in accordance to Section III of the head of this Article.</font></font></p>

<p align=left style="margin:0in 0in 0pt;text-align:left;">&nbsp;</p>

<p style="margin:0in 0in 0pt 81pt;text-align:justify;text-indent:-81pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">Article 28)&nbsp;&nbsp;&nbsp;&nbsp; The Net Income balance, recorded after the aforementioned distributions, will have the destination proposed by the Board of Executive Officers, approved by the Board of Directors and resolved by the Shareholders&#8217; Meeting, and may be fully allocated to Statutory Profit Reserves one hundred percent (100%), in order to maintain an operating margin that is compatible with the development of the Company&#8217;s active operations, up to the limit of ninety-five percent (95%) of the Company&#8217;s paid-in capital share amount. </font></font></p>

<p style="margin:0in 0in 0pt 189pt;text-align:justify;text-indent:-107.9pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt 78pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:14pt;line-height:110%;">Sole Paragraph</font></b></font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;"> -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the event that the proposal of the Board of Executive Officers regarding the allocation of Net Income for that fiscal year contains a provision for the distribution of dividends and/or payment of interest in shareholders &#8216;equity in an amount in excess of the mandatory dividend established in Article 27, Section III, and/or retention of profits pursuant to Article 196 of the Law No. 6,404/76, the Net Income balance for the purpose of constituting the reserve mentioned in this Article will be determined after the full deduction of such allocations.</font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;line-height:110%;">**************************</font></font></p>

<p style="margin:0in 0pt 0pt 0in;text-align:justify;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">We attest that this is a true copy of the Bylaws of Banco Bradesco S.A., with the resolution approved in the Special Shareholders&#8217; Meetings held on March 12, 2018 at 4 p.m. and at 4:15 p.m. </font></font></p>

<p style="margin:0in 0pt 0pt 0in;text-align:justify;"><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp; </font></font></p>

<p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=EN-US style="font-size:15.5pt;line-height:85%;">Banco Bradesco S.A.</font></font></p>

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<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Bylaws approved in the Special Shareholders&#8217; Meetings of March 12, 2018</font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;"> </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;">Page </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font><font><font face="Times New Roman"><font lang=EN-US style="font-size:12pt;"> de </font></font></font><font><font><font face="Times New Roman"><b><font lang=EN-US style="font-size:12pt;">17</font></b></font></font></font></p>

<p style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin:0in 0in 0pt;padding-bottom:0in;padding-left:0in;padding-right:0in;padding-top:0in;text-align:justify;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div>

<p style="margin:0in 0in 0pt;"><font><font face="Times New Roman"><font lang=EN-US style="font-size:14pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font></p></div></div>

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<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exhibit06_1.htm
<DESCRIPTION>EXHIBIT 6.1
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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face=arial,sans-serif>Banco Bradesco S.A.</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exhibit 6.1</FONT></B></P></TD></TR>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Earnings per share</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>December 31,</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2017</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2016</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Weighted average number of preferred shares outstanding (in shares<FONT style="FONT-SIZE: 10pt" face=Arial>)</FONT></FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,035,625,046 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,035,625,046 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,037,916,900 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>10% right for preferred shares (in shares)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>303,562,505 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;303,562,505 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;303,791,690 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Adjusted weighted average number of preferred shares outstanding (in shares) for EPS calculation</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,339,187,551 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,339,187,551 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,341,708,590 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Weighted average number of common shares outstanding (in shares)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,049,991,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,049,991,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,050,156,412 </FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Total weighted average number of shares outstanding (in shares) (A)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>6,389,178,718 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;6,389,178,718 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;6,391,865,002 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Net income&nbsp; attributable to controlling shareholders (in thousands of reais) (B)</FONT></P></TD>

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   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$&nbsp;&nbsp; 17,089,364 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp; 17,894,249 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp; 18,132,906 </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>EPS for common shares (B)/(A) = (C) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$&nbsp;&nbsp; 2.67</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp;&nbsp;&nbsp; 2.80</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp; 2.84</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>EPS for preferred shares (C) +10% </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%"></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>R$&nbsp;&nbsp; 2.94</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp; 3.08</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN-RIGHT: 20pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp;&nbsp; 3.12</FONT></P></TD></TR></TABLE></DIV>

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<DOCUMENT>
<TYPE>EX-7.1
<SEQUENCE>4
<FILENAME>exhibit07_1.htm
<DESCRIPTION>EXHIBIT 7.1
<TEXT>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" face=arial,sans-serif>Banco Bradesco S.A.</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Exhibit 7.1</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends per share</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>December 31,</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2017</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>2015</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Common</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Common</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Preferred</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Common</FONT></B></P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Actual dividends declared (in thousand of reais)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,765,539 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,438,805 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;4,010,342 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,663,019 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,470,630 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,167,831 </FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Weighted average number of shares outstanding </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>3,035,625,046 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,049,991,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,035,625,046 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,049,991,167 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,037,916,900 </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;3,050,156,412 </FONT></P></TD></TR>

<TR>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>Dividends per share</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.24 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.13 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.32 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.20 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.14 </FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face=arial,sans-serif>&nbsp;R$&nbsp; 1.03 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>5
<FILENAME>exhibit08_1.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>

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   <TITLE>exhibit08_1.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: medium none; PADDING-RIGHT: 0in">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: center; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in" align=center><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 14pt">Banco Bradesco S.A.</FONT></B></FONT></P>

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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: center; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in" align=center><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt">December 31, 2017</FONT></B></FONT></P>

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: center; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in" align=center>&nbsp;</P>

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0in; TEXT-ALIGN: center; PADDING-TOP: 0in; PADDING-LEFT: 0in; MARGIN: 0in 0in 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0in" align=center><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt">List of the Main Subsidiaries</FONT></B></FONT></P></DIV>

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<TR style="HEIGHT: 14.5pt">

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Exhibit 8.1</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=#000000 face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Subsidiary</FONT></U></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Jurisdiction of Incorporation</FONT></U></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Names Under which Business is Conducted</FONT></U></B></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 14.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">1&nbsp;&nbsp;&nbsp; Banco Alvorada S.A </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Salvador - BA &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Banco Alvorada</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">2&nbsp;&nbsp;&nbsp; Banco Bradesco BBI S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco - SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco BBI</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">3&nbsp;&nbsp;&nbsp; Banco Bradesco Argentina S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Buenos Aires &#8211; Argentina</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Argentina</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">4&nbsp;&nbsp;&nbsp; Banco Bradesco Europa S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Luxembourg &#8211; G. Ducado</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Luxembourg</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">5&nbsp;&nbsp;&nbsp; Banco Bradesco S.A. Grand Cayman Branch</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Cayman Islands</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Grand Cayman Branch</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">6&nbsp;&nbsp;&nbsp; Banco Bradesco New York Branch</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">New York &#8211; EUA</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco New York Branch</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">7&nbsp;&nbsp;&nbsp; Banco Bradesco Financiamentos S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Financiamentos</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">8&nbsp;&nbsp;&nbsp; Bradesco Argentina de Seguros S.A</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Buenos Aires &#8211; Argentina</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Argentina de Seguros</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">9 &nbsp;&nbsp; Bradesco Auto/RE Companhia de Seguros</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de Janeiro - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Auto/RE</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">10&nbsp; Bradesco Capitaliza&#231;&#227;o S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Capitaliza&#231;&#227;o</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">11&nbsp; Bradesco Administradora de Cons&#243;rcios Ltda.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Cons&#243;rcios</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">12&nbsp; Bradesco Leasing S.A. Arrendamento Mercantil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Leasing</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">13&nbsp; Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Corretora</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">14&nbsp; Bradesco Sa&#250;de S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de Janeiro &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Sa&#250;de</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">15&nbsp; Bradesco Securities, Inc.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">New York &#8211; USA</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Securities</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">16&nbsp;&nbsp; Bradesco Seguros S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Seguros</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">17&nbsp; Bradesco Vida e Previd&#234;ncia S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP -&nbsp; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Previd&#234;ncia</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">18&nbsp;&nbsp; Bradescor Corretora de Seguros Ltda.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradescor</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">19&nbsp; BRAM &#8211; Bradesco Asset Management S.A. DTVM</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

   <TD style="HEIGHT: 14.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">BRAM</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">20&nbsp; Cia. Securitizadora de Cr&#233;ditos Financeiros Rubi</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

   <TD style="HEIGHT: 14.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rubi</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">21&nbsp; Atl&#226;ntica Companhia de Seguros </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de Janeiro &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Atl&#226;ntica&nbsp; Seguros</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">22&nbsp; Uni&#227;o Participa&#231;&#245;es Ltda.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco &#8211; SP - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Uni&#227;o</FONT></P></TD></TR>

<TR style="HEIGHT: 14.5pt">

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">23&nbsp;&nbsp; Bradesplan Participa&#231;&#245;es Ltda.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco - SP &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesplan</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">24&nbsp;&nbsp; Banco Bradesco Cart&#245;es S.A. </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco - SP &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradesco Cart&#245;es</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">25&nbsp; &nbsp;Tempo Servi&#231;os Ltda.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Uberl&#226;ndia &#8211; MG &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Tempo Servi&#231;os</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">26&nbsp; &nbsp;Bradseg Participa&#231;&#245;es S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Osasco - SP &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Bradseg</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">27 &nbsp;&nbsp;Banco Bradescard S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

   <TD style="HEIGHT: 14.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Banco Bradescard</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">28 &nbsp;&nbsp;&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de janeiro &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">&#193;gora</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">29&nbsp; &nbsp;Odontoprev S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Barueri - SP &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Odontoprev</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">30&nbsp;&nbsp; Banco Bradesco BERJ S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de janeiro &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">BERJ</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">31&nbsp;&nbsp; Banco Losango S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Rio de janeiro &#8211; Brazil</FONT></P></TD>

   <TD style="HEIGHT: 14.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Banco Losango</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">32&nbsp;&nbsp; Kirton Bank Brasil S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Paran&#225; - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Kirton Bank Brasil</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">33&nbsp;&nbsp; Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

   <TD style="HEIGHT: 14.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 1.5pt; PADDING-RIGHT: 1.5pt" vAlign=top width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">34&nbsp;&nbsp; Kirton Capitaliza&#231;&#227;o S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Paran&#225; - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Kirton Capitaliza&#231;&#227;o</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">35&nbsp;&nbsp; Kirton Seguros S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Paran&#225; - Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Kirton Seguros</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">36&nbsp;&nbsp; Kirton Vida e Previd&#234;ncia S.A.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">S&#227;o Paulo &#8211; Brazil</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LINE-HEIGHT: normal" color=#000000 face="times new roman">Kirton Vida e Previd&#234;ncia</FONT></P></TD></TR></TABLE></DIV>

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<DESCRIPTION>EXHIBIT 12.1
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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 12pt" align=left><FONT face=arial,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 10pt">Banco Bradesco S.A.<BR>Exhibit 12.1.</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=EN-GB style="FONT-SIZE: 10pt">CEO Certification</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">I, Octavio de Lazari Junior, certify that:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual report on Form 20-F of Banco Bradesco S.A.;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements and other financial information included in this report fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the company&#8217;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company&#8217;s internal control over financial reporting; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&#8217;s auditors and the audit committee of the company&#8217;s board of directors (or persons performing the equivalent functions):</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&#8217;s ability to record, process, summarize and report financial information; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&#8217;s internal control over financial reporting.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">Date: April 30, 2018</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 255.15pt"><FONT face=arial,sans-serif><FONT lang=ES style="FONT-SIZE: 10pt">/s/ Octavio de Lazari Junior</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 255.15pt">________________________<BR><FONT face=arial,sans-serif><FONT lang=ES style="FONT-SIZE: 10pt">Name: Octavio de Lazari Junior</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 255.15pt" align=left><FONT face=arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%">Title: Chief Executive Officer</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face="Times New Roman"><FONT lang=EN-GB style="FONT-SIZE: 12pt"></FONT></FONT>&nbsp;</P></DIV>

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<TYPE>EX-12.2
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<DESCRIPTION>EXHIBIT 12.2
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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 12pt" align=left><FONT face=arial,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 10pt">Banco Bradesco S.A.<BR>Exhibit 12.2.</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 10pt">CFO Certification</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">I, Andr&#233; Rodrigues Cano, certify that:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual report on Form 20-F of Banco Bradesco S.A.;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements and other financial information included in this report fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in this report;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the company&#8217;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the company&#8217;s internal control over financial reporting; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 35.45pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The company&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the company&#8217;s auditors and the audit committee of the company&#8217;s board of directors (or persons performing the equivalent functions):</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the company&#8217;s ability to record, process, summarize and report financial information; and</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 70.9pt; TEXT-INDENT: -35.45pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the company&#8217;s internal control over financial reporting.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">Date: April 30, 2018</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 3.15in"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">/s/ Andr&#233; Rodrigues Cano<BR></FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 219.75pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">__________________________</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 219.75pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">Name: Andr&#233; Rodrigues Cano</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt 219.75pt"><FONT face=arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt">Title: Chief Financial Officer</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 163.05pt"><FONT face=arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face="Times New Roman"><FONT lang=EN-GB style="FONT-SIZE: 12pt"></FONT></FONT>&nbsp;</P></DIV>

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<TYPE>EX-13.1
<SEQUENCE>8
<FILENAME>exhibit13_1.htm
<DESCRIPTION>EXHIBIT 13.1
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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 12pt" align=left><FONT face=arial,sans-serif><B><FONT lang=PT-BR style="FONT-SIZE: 10pt">Banco Bradesco S.A.<BR>Exhibit 13.1.</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt">CEO Certification</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Banco Bradesco S.A. (the &#8220;Company&#8221;), does hereby certify, to such officer&#8217;s knowledge, that the annual report on Form 20-F for the year ended December 31, 2016 of the Company (the &#8220;Form 20-F&#8221;) fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 20-F fairly presents, in all material respects, the financial condition and results of operations of the Company.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">Date: April 30, 2018</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">/s/ Octavio de Lazari Junior</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt">_______________________<FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">&nbsp; </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">Name: Octavio de Lazari Junior</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt">Title: Chief Executive Officer</FONT></FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 0pt" align=left><FONT face="Times New Roman"><FONT lang=EN-GB style="FONT-SIZE: 12pt"></FONT></FONT>&nbsp;</P></DIV>

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<TYPE>EX-13.2
<SEQUENCE>9
<FILENAME>exhibit13_2.htm
<DESCRIPTION>EXHIBIT 13.2
<TEXT>

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<P style="TEXT-ALIGN: left; MARGIN: 0in 0in 12pt" align=left><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt">Banco Bradesco S.A.<BR>Exhibit 13.2.</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt">CFO Certification</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Banco Bradesco S.A. (the &#8220;Company&#8221;), does hereby certify, to such officer&#8217;s knowledge, that the annual report on Form 20-F for the year ended December 31, 2016 of the Company (the &#8220;Form 20-F&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 20-F fairly presents, in all material respects, the financial condition and results of operations of the Company.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">Date: April 30, 2018</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt"></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">&nbsp;&nbsp; /s/&nbsp; Andr&#233; Rodrigues Cano </FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt">______________________<FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">&nbsp;</FONT></FONT><FONT><FONT lang=PT-BR><BR clear=all></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 10pt">Name: Andr&#233; Rodrigues Cano</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 170.1pt"><FONT face=arial,sans-serif><FONT lang=EN-GB style="FONT-SIZE: 10pt">Title: Chief Financial Officer</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT face="Times New Roman"><FONT lang=EN-GB style="FONT-SIZE: 12pt"></FONT></FONT>&nbsp;</P></DIV>

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<!-- ELement Id ifrs-full_OtherOperatingIncomeExpense -->
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  <ifrs-full:OtherOperatingIncomeExpense contextRef="Context8" unitRef="Unit2" decimals="-3">-12988553000</ifrs-full:OtherOperatingIncomeExpense>
  <ifrs-full:OtherExpenseByFunction contextRef="Context1" unitRef="Unit2" decimals="-3">69168486000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:OtherExpenseByFunction contextRef="Context7" unitRef="Unit2" decimals="-3">66166199000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:OtherExpenseByFunction contextRef="Context8" unitRef="Unit2" decimals="-3">58431725000</ifrs-full:OtherExpenseByFunction>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="Context1" unitRef="Unit2" decimals="-3">22025148000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="Context7" unitRef="Unit2" decimals="-3">30205731000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="Context8" unitRef="Unit2" decimals="-3">8075532000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates contextRef="Context1" unitRef="Unit2" decimals="-3">1718411000</ifrs-full:OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates>
  <ifrs-full:OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates contextRef="Context7" unitRef="Unit2" decimals="-3">1699725000</ifrs-full:OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates>
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  <ifrs-full:ProfitLossBeforeTax contextRef="Context1" unitRef="Unit2" decimals="-3">23743559000</ifrs-full:ProfitLossBeforeTax>
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  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="Context1" unitRef="Unit2" decimals="-3">6428956000</ifrs-full:IncomeTaxExpenseContinuingOperations>
  <ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="Context7" unitRef="Unit2" decimals="-3">13912730000</ifrs-full:IncomeTaxExpenseContinuingOperations>
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  <ifrs-full:BasicEarningsLossPerShare contextRef="Context3" unitRef="Unit5" decimals="2">2.67</ifrs-full:BasicEarningsLossPerShare>
  <ifrs-full:BasicEarningsLossPerShare contextRef="Context9" unitRef="Unit5" decimals="2">2.80</ifrs-full:BasicEarningsLossPerShare>
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<!-- ELement Id bbd_UnrealizedGainslossesOnFinancialAssetsAvailableForSale -->
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  <bbd:RealizedGainslossesOnFinancialAssetsAvailableForSale contextRef="Context1" unitRef="Unit2" decimals="-3">487017000</bbd:RealizedGainslossesOnFinancialAssetsAvailableForSale>
  <bbd:RealizedGainslossesOnFinancialAssetsAvailableForSale contextRef="Context7" unitRef="Unit2" decimals="-3">-1459372000</bbd:RealizedGainslossesOnFinancialAssetsAvailableForSale>
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  <ifrs-full:TaxEffectOfTaxLosses contextRef="Context1" unitRef="Unit2" decimals="-3">1231202000</ifrs-full:TaxEffectOfTaxLosses>
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  <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax contextRef="Context1" unitRef="Unit2" decimals="-3">23010000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax>
  <ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax contextRef="Context7" unitRef="Unit2" decimals="-3">-194566000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationNetOfTax>
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  <bbd:TaxEffect contextRef="Context1" unitRef="Unit2" decimals="-3">5992000</bbd:TaxEffect>
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  <bbd:AdjustmentsNotIncludedInTheNetIncome contextRef="Context1" unitRef="Unit2" decimals="-3">2216367000</bbd:AdjustmentsNotIncludedInTheNetIncome>
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<!-- ELement Id ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading -->
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  <ifrs-full:FinancialAssetsAvailableforsale contextRef="Context13" unitRef="Unit2" decimals="-3">113118554000</ifrs-full:FinancialAssetsAvailableforsale>
  <ifrs-full:HeldtomaturityInvestments contextRef="Context2" unitRef="Unit2" decimals="-3">39006118000</ifrs-full:HeldtomaturityInvestments>
  <ifrs-full:HeldtomaturityInvestments contextRef="Context13" unitRef="Unit2" decimals="-3">43002028000</ifrs-full:HeldtomaturityInvestments>
  <bbd:FinancialAssetsPledgedAsCollateral contextRef="Context2" unitRef="Unit2" decimals="-3">183975173000</bbd:FinancialAssetsPledgedAsCollateral>
  <bbd:FinancialAssetsPledgedAsCollateral contextRef="Context13" unitRef="Unit2" decimals="-3">155286577000</bbd:FinancialAssetsPledgedAsCollateral>
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  <ifrs-full:PropertyPlantAndEquipment contextRef="Context2" unitRef="Unit2" decimals="-3">8432475000</ifrs-full:PropertyPlantAndEquipment>
  <ifrs-full:PropertyPlantAndEquipment contextRef="Context13" unitRef="Unit2" decimals="-3">8397116000</ifrs-full:PropertyPlantAndEquipment>
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<!-- ELement Id ifrs-full_CurrentTaxAssetsNoncurrent -->
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<!-- ELement Id ifrs-full_OtherProvisions -->
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<!-- ELement Id ifrs-full_AccumulatedOtherComprehensiveIncome -->
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  <ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923249&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;1.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;General information&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Banco Bradesco S.A. and subsidiaries (&amp;#8220;Bradesco&amp;#8221;, the &amp;#8220;Bank&amp;#8221;, the &amp;#8220;Company&amp;#8221; or the &amp;#8220;Organization&amp;#8221;) is a publicly-traded company established according to the laws of the Federative Republic of Brazil with headquarters in the city of Osasco, state of S&amp;#227;o Paulo, Brazil.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Bradesco is a bank that provides multiple services within two segments: banking and insurance. The Bank complies with Brazilian banking regulations and operates throughout all of Brazil. The banking segment includes a range of banking activities, serving individual and corporate customers in the following operations: investment banking, national and international banking operations, asset management operations and consortium administration. The insurance segment covers auto, health, life, accident and property insurance and pension plans as well as capitalization bonds.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The retail banking products include demand deposits, savings deposits, time deposits, mutual funds, foreign exchange services and a range of loans and advances , including overdrafts, credit cards and loans with repayments in installments. The services provided to corporate entities include fund management and treasury services, foreign exchange operations, corporate finance and investment banking services, hedge and finance operations including working capital financing, lease and loans with repayments in installments. These services are provided, mainly, in domestic markets, but also include international services on a smaller scale.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization was originally listed on the S&amp;#227;o Paulo Stock Exchange (&amp;#8220;B3&amp;#8221;) and then subsequently on the New York Stock Exchange (&amp;#8220;NYSE&amp;#8221;).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The consolidated financial statements, in accordance with the IFRS, were approved by the Board of Directors on March 07, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923250&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;2.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Significant Accounting Policies&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These consolidated financial statements of the Organization were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The consolidated financial statements include the consolidated statements of financial position, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows as well as the notes to the consolidated financial statements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These consolidated financial statements have been prepared based on historical cost, except for the following material items in the balance sheet: available for sale measured at fair value, assets and liabilities held for trading measured at fair value and financial instruments designated at fair value through profit or loss, and defined-benefit liabilities that are recognized at the present value of the defined benefit obligation less the net total of the plan assets, plus unrecognized actuarial gains less the cost of past services not recognized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has classified its expenses according to their nature.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The consolidated statement of cash flows shows the changes in cash and cash equivalents during the year arising from operating, investing and financing activities. Cash and cash equivalents include highly liquid investments. Note 19 details the accounts of the consolidated statement of financial position that comprise cash and cash equivalents. The consolidated statement of cash flows is prepared using the indirect method. Accordingly, the income before taxes was adjusted by non-cash items such as provisions, depreciation, amortization and Impairment losses on loans and advances. The interest and dividend received and paid are classified as operating, financing or investment cash flows according to the nature of the corresponding assets and liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The preparation of the consolidated financial statements requires the use of estimates and assumptions which affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the profit and loss amounts for the year. The consolidated financial statements also reflect various estimates and assumptions, including, but not limited to: adjustments to the impairment provision of loans and advances; estimates of the fair value of financial instruments; depreciation and amortization rates; impairment losses on assets; the useful life of intangible assets; evaluation of the realization of tax assets; assumptions for the calculation of technical provisions for insurance, supplemental pension plans and capitalization bonds; provisions for contingencies and provisions for potential losses arising from fiscal and tax uncertainties. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The accounting policies listed below were used in all the periods presented and by all the companies of the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923251&quot; /&gt;&lt;a name=&quot;_Toc474919302&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;2.1&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;Recent Acquisitions &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In August, 2015, Bradesco signed the Purchase and Sale of Shares Agreement with HSBC Latin America Holdings Limited for the acquisition of 100% of the equity of HSBC Bank Brasil S.A. (&amp;#8220;HSBC Bank&amp;#8221;) and HSBC Servi&amp;#231;os e Participa&amp;#231;&amp;#245;es Ltda. (&amp;#8220;HSBC Servi&amp;#231;os&amp;#8221;). In June 2016, the final approval of regulatory agencies was given in compliance with legal formalities. With the conclusion of the acquisition, on July 1, 2016, Bradesco assumed all operations of &amp;#160;HSBC in Brazil, including retail, insurance and asset management, as well as all the branches and clients, reinforcing its presence and competitiveness throughout the national territory.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In July 2016, there was a total division of the equity of HSBC Servi&amp;#231;os, where portions of this &amp;#160;equity&amp;#160; were transferred to HSBC Bank and to Credival Participa&amp;#231;&amp;#245;es, Administra&amp;#231;&amp;#227;o e Assessoria Ltda. (Credival), that is a wholly owned subsidiary of HSBC Bank.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In October 2016, approval was granted in an Extraordinary General Meeting for the partial spin-off of HSBC Brasil, through the absorption of portions of its equity by companies of the Organization, enabling progress with the integration of operational and technological platforms, resulting in the replacement of the HSBC brand in its service network, becoming Bradesco. Thus, Bradesco began to operate with a unified platform (branches, ATMs, and systems), to which all clients have access to. Bradesco adds, from now on the products and services already offered to HSBC Brasil clients, a nationwide service network, a state-of-the-art technology platform, and an even more extensive portfolio of products and services.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&amp;#231;os (HSBC Brasil) at the date of acquisition:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;page-break-inside:avoid;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Accounting&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustments &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair Value (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and cash equivalents&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Desposits with the central banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,364,585&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,650,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,714,569&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,450&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Property and equipment, net of accumulated depreciation &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,175,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;622,246&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;558,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,551,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,808,692&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;848,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,657,391&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from securities issued&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,187,105)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(64,701)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,251,806)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sub-total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,066,683&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Total amount of s&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;hareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair value of the consideration transferred was composed as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Payment to HSBC Latin America Holding Limited, net of adjustment after closure &lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,665,367&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustment to the cost acquisition related to the fair value of the firm commitment&lt;sup&gt; (2)&lt;/sup&gt;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,623,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes the IOF collection, and withholding Income Tax; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2) Includes the results from changes to the fair value &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; h&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In December 2016, Bradesco, based on a study report on purchase price allocation (&quot;PPA&quot;), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;89%&quot; style=&quot;border-collapse:collapse;margin-left:45.95pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of assets acquired and liabilities assumed&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(221,361)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill in the acquisition of the &quot;HSBC Bank&quot; and &quot;HSBC Servi&amp;#231;os&quot; investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These acquisitions were recorded on the business combination method and the companies were consolidated from the date that the majority control was acquired.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The goodwill on acquisition, in the amount of R$ 4,221,787 thousand, recorded by Bradesco, is not amortized and is subject to annual impairment test. Goodwill is attributed to the expected future profitability of the respective businesses acquired and to the strengthening of Bradesco&amp;#39;s strategy to strengthen its presence throughout the national territory, giving a greater degree of competition in a highly competitive market, so as to take advantage of the synergies generated by the products and base of HSBC Brasil customers, which are complementary.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:9.0pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923252&quot; /&gt;&lt;a name=&quot;_Toc474919303&quot; /&gt;&lt;a name=&quot;_Toc415565830&quot; /&gt;&lt;a name=&quot;_Toc415499809&quot; /&gt;&lt;a name=&quot;_Toc415498644&quot; /&gt;&lt;a name=&quot;_Toc415498520&quot; /&gt;&lt;a name=&quot;_Toc415498291&quot; /&gt;&lt;a name=&quot;_Toc413337819&quot; /&gt;&lt;a name=&quot;_Toc412626151&quot; /&gt;&lt;a name=&quot;_Toc381783331&quot; /&gt;&lt;a name=&quot;_Toc379874051&quot; /&gt;&lt;a name=&quot;_Toc355707581&quot; /&gt;&lt;a name=&quot;_Toc351013962&quot; /&gt;&lt;a name=&quot;_Toc320264309&quot; /&gt;&lt;a name=&quot;_Toc318995662&quot; /&gt;&lt;a name=&quot;_Toc318995460&quot; /&gt;&lt;a name=&quot;_Toc316896239&quot; /&gt;&lt;a name=&quot;_Toc312767216&quot; /&gt;&lt;a name=&quot;_Toc289782394&quot; /&gt;&lt;a name=&quot;_Toc285698308&quot; /&gt;&lt;a name=&quot;_Toc285642789&quot; /&gt;&lt;a name=&quot;_Toc285538655&quot; /&gt;&lt;a name=&quot;_Toc285477016&quot; /&gt;&lt;a name=&quot;_Toc285472555&quot; /&gt;&lt;a name=&quot;_Toc284885019&quot; /&gt;&lt;a name=&quot;_Toc284697525&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;2.2&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;Consolidation &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The consolidated financial statements include the financial statements of Bradesco and those of its direct and indirect subsidiaries, including exclusive mutual funds and special purpose entities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main subsidiaries included in the consolidated financial statements are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;margin-left:.5in;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Activity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Country&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Alvorada S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Financiamentos S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Boavista Interatl&amp;#226;ntico S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Argentina S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Argentina&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Europa S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Luxembourg&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BERJ S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradescard S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BBI S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment bank&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.81%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Cart&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Administradora de Cons&amp;#243;rcios Ltda. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradseg Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Auto/RE Cia. de Seguros&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Capitaliza&amp;#231;&amp;#227;o S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Odontoprev S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dental care&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Leasing S.A. Arrendamento Mercantil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leasing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#193;gora Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco S.A. Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Sa&amp;#250;de S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance / Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Seguros S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesplan Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;BRAM - Bradesco Asset Management S.A. DTVM&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tempo Servi&amp;#231;os Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Uni&amp;#227;o Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Losango S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Administradora de Cons&amp;#243;rcios Ltda (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Bank Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Kirton Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Capitaliza&amp;#231;&amp;#227;o S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Seguros S.A. (4) (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.54%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.08%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Participa&amp;#231;&amp;#245;es e Investimentos Ltda (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In November, 2017, Banco Boavista Interatl&amp;#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In May 2017, Kirton Administradora de Cons&amp;#243;rcios Ltda. was merged into Bradesco Administradora de Cons&amp;#243;rcios Ltda.; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest, by means of acquisition of shares held by minority shareholders; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest by means of subscription of shares in July 2017; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(5)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Company merged into Kirton Seguros S.A., in July 2017.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsidiaries&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsidiaries are all of the companies over which the Organization, has control. The Organization has control over an investee if it is exposed to, or has rights to, variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The subsidiaries are fully consolidated from the date at which the Organization obtains control over its activities until the date this control ceases.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For acquisitions meeting the definition of a business combination, the acquisition method of accounting is used. The cost of an acquisition is measured as the fair value of the consideration, including assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the consideration given over the fair value of the Organization&amp;#39;s share of the identifiable net assets and non-controlling interest acquired is recorded as goodwill. Any goodwill arising from business combinations is tested for impairment at least once a year and whenever events or changes in circumstances may indicate the need for an impairment write-down. If the cost of acquisition is less than the fair value of the Organization&amp;#39;s share of the net assets acquired, the difference is recognized directly in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For acquisitions not meeting the definition of a business combination, the Organization allocates the cost between the individual identifiable assets and liabilities. The cost of acquired assets and liabilities is determined by (a) recognizing financial assets and liabilities at their fair value at the acquisition date; and (b) allocating the remaining balance of the cost of purchasing assets and assuming liabilities to individual assets and liabilities, other than financial instruments, based on their relative fair values&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;of these instruments at the acquisition date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Associates&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Companies are classified as associates if the Organization has significant influence, but not control, over the operating and financial management policy decisions. Normally significant influence is presumed when the Organization holds in excess of 20%, but no more than 50%, of the voting rights. Even if less than 20% of the voting rights are held, the Organization could still have significant influence through its participation in the management of the investee or representations on its Board of Directors, providing it has executive power; i.e. voting power.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments in associates are recorded in the Organization&amp;#39;s consolidated financial statements using the equity method and are initially recognized at cost. The investments in associates include goodwill (net of any impairment losses) identified at the time of acquisition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Joint ventures &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has contractual agreements in which two or more parties undertake activities subject to joint control. Joint control is the contractual sharing of control over an activity and it exists only if strategic, financial and operating decisions are made on a unanimous basis by the parties. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in joint ventures are recorded in the consolidated financial statements of the Organization using the equity method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Structured entities &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A structured entity is an entity that has been designed such that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Structured entities normally have some or all of the following features or characteristics:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;restricted activities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a narrow and well-defined objective, such as, to effect a specific structure like a tax efficient lease, to perform research and development activities, or to provide a source of capital or funding to an entity or to provide investment opportunities for investors by passing risks and rewards associated with the assets of the structured entity to investors;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;thin capitalisation, that is, the proportion of &amp;#8216;real&amp;#39; equity is too small to support the structured entity&amp;#39;s overall activities without subordinated financial support; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;financing in the form of multiple contractually linked instruments to investors that create concentrations of credit risk or other risks (tranches).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transactions with and interests of non-controlling shareholders &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization applies a policy of treating transactions with non-controlling interests as transactions with equity owners of the Bank. For purchases of equity from non-controlling interests, the difference between any consideration paid and the share of the carrying value of net assets of the subsidiary acquired is recorded in equity. Gains or losses on sales to non-controlling shareholders are also recorded in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Profits or losses attributable to non-controlling interests are presented in the consolidated statements of income under this title. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Balances and transactions eliminated in the consolidation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Intra-group transactions and balances (except for foreign currency transaction gains and losses) are eliminated in the consolidation process, including any unrealized profits or losses resulting from operations between the companies except when unrealized losses indicate an impairment loss of the asset transferred which should be recognized in the consolidated financial&amp;#160; statements. Consistent accounting policies as well as similar valuation methods for similar transactions, events and circumstances are used throughout the Organization for the purposes of consolidation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923253&quot; /&gt;&lt;a name=&quot;_Toc474919304&quot; /&gt;&lt;a name=&quot;_Toc415565831&quot; /&gt;&lt;a name=&quot;_Toc415499810&quot; /&gt;&lt;a name=&quot;_Toc415498645&quot; /&gt;&lt;a name=&quot;_Toc415498521&quot; /&gt;&lt;a name=&quot;_Toc415498292&quot; /&gt;&lt;a name=&quot;_Toc413337820&quot; /&gt;&lt;a name=&quot;_Toc412626152&quot; /&gt;&lt;a name=&quot;_Toc381783332&quot; /&gt;&lt;a name=&quot;_Toc379874052&quot; /&gt;&lt;a name=&quot;_Toc355707582&quot; /&gt;&lt;a name=&quot;_Toc351013963&quot; /&gt;&lt;a name=&quot;_Toc320264310&quot; /&gt;&lt;a name=&quot;_Toc318995663&quot; /&gt;&lt;a name=&quot;_Toc318995461&quot; /&gt;&lt;a name=&quot;_Toc316896242&quot; /&gt;&lt;a name=&quot;_Toc312767218&quot; /&gt;&lt;a name=&quot;_Toc289782399&quot; /&gt;&lt;a name=&quot;_Toc285698313&quot; /&gt;&lt;a name=&quot;_Toc285642794&quot; /&gt;&lt;a name=&quot;_Toc285538660&quot; /&gt;&lt;a name=&quot;_Toc285477021&quot; /&gt;&lt;a name=&quot;_Toc285472560&quot; /&gt;&lt;a name=&quot;_Toc284885024&quot; /&gt;&lt;a name=&quot;_Toc284697530&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.3&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Foreign currency translation &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Functional and presentation currency&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Items included in the financial statements of each of the Organization&amp;#39;s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in Brazilian Reais (R$), which is the Organization&amp;#39;s presentation currency. The domestic and foreign subsidiaries use the Real as their functional currency, with the exception of the subsidiary in Mexico, which uses the Mexican Peso as its functional currency.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transactions and balances &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Foreign currency transactions, which are denominated or settled in a foreign currency, are translated into the functional currency using the exchange rates prevailing on the dates of the transactions. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Monetary items denominated in foreign currency are translated at the closing exchange rate as at the reporting date. Non-monetary items measured at historical cost denominated in a foreign currency are translated at the exchange rate on the date of initial recognition; non-monetary items in a foreign currency that are measured at fair value are translated using the exchange rates on the date when the fair value was determined. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at each period exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income as &amp;#8220;Net gains/(losses) of foreign currency transactions&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the case of changes in the fair value of monetary assets denominated in foreign currency classified as available for sale, a distinction is made between translation differences resulting from changes in amortized cost of the security and other changes in the carrying amount of the security. Translation differences related to changes in the amortized cost are recognized in the consolidated statement of income, and other changes in the carrying amount, except impairment, are recognized in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign operations &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The results and financial position of all foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the reporting date; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income and expenses for each consolidated statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rate prevailing on the transaction dates, in which case income and expenses are translated at the rates in effect on the dates of the transactions); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All resulting exchange differences are recognized in other comprehensive income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Exchange differences arising from the above process are reported in equity as &amp;#8220;Foreign currency translation adjustment&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to &amp;#8216;Other comprehensive income&amp;#39;. If the operation is a non-wholly owned subsidiary, then the relevant proportion of the transaction difference is allocated to the non-controlling interest. When a foreign operation is partially sold or disposed, such exchange differences, which were recognized in equity, are recognized in the consolidated statement of income as part of the gain or loss on sale. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923254&quot; /&gt;&lt;a name=&quot;_Toc474919305&quot; /&gt;&lt;a name=&quot;_Toc415565832&quot; /&gt;&lt;a name=&quot;_Toc415499811&quot; /&gt;&lt;a name=&quot;_Toc415498646&quot; /&gt;&lt;a name=&quot;_Toc415498522&quot; /&gt;&lt;a name=&quot;_Toc415498293&quot; /&gt;&lt;a name=&quot;_Toc413337821&quot; /&gt;&lt;a name=&quot;_Toc412626153&quot; /&gt;&lt;a name=&quot;_Toc381783333&quot; /&gt;&lt;a name=&quot;_Toc379874053&quot; /&gt;&lt;a name=&quot;_Toc355707583&quot; /&gt;&lt;a name=&quot;_Toc351013964&quot; /&gt;&lt;a name=&quot;_Toc320264311&quot; /&gt;&lt;a name=&quot;_Toc318995664&quot; /&gt;&lt;a name=&quot;_Toc318995462&quot; /&gt;&lt;a name=&quot;_Toc316896243&quot; /&gt;&lt;a name=&quot;_Toc312767219&quot; /&gt;&lt;a name=&quot;_Toc289782400&quot; /&gt;&lt;a name=&quot;_Toc285698314&quot; /&gt;&lt;a name=&quot;_Toc285642795&quot; /&gt;&lt;a name=&quot;_Toc285538661&quot; /&gt;&lt;a name=&quot;_Toc285477022&quot; /&gt;&lt;a name=&quot;_Toc285472561&quot; /&gt;&lt;a name=&quot;_Toc284885025&quot; /&gt;&lt;a name=&quot;_Toc284697532&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.4&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Cash and cash equivalents&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash and cash equivalents include: cash, bank deposits, unrestricted balances held with the Central Bank of Brazil and other highly liquid short-term investments, with original maturities of three months or less and &amp;#160;which are subject to insignificant risk of changes in fair value, used by the Organization to manage its short-term commitments. See Note 19(b) - &amp;#8220;Cash and cash equivalents&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923255&quot; /&gt;&lt;a name=&quot;_Toc474919306&quot; /&gt;&lt;a name=&quot;_Toc415565833&quot; /&gt;&lt;a name=&quot;_Toc415499812&quot; /&gt;&lt;a name=&quot;_Toc415498647&quot; /&gt;&lt;a name=&quot;_Toc415498523&quot; /&gt;&lt;a name=&quot;_Toc415498294&quot; /&gt;&lt;a name=&quot;_Toc413337822&quot; /&gt;&lt;a name=&quot;_Toc412626154&quot; /&gt;&lt;a name=&quot;_Toc381783334&quot; /&gt;&lt;a name=&quot;_Toc379874054&quot; /&gt;&lt;a name=&quot;_Toc355707584&quot; /&gt;&lt;a name=&quot;_Toc351013965&quot; /&gt;&lt;a name=&quot;_Toc320264312&quot; /&gt;&lt;a name=&quot;_Toc318995665&quot; /&gt;&lt;a name=&quot;_Toc318995463&quot; /&gt;&lt;a name=&quot;_Toc316896245&quot; /&gt;&lt;a name=&quot;_Toc312767220&quot; /&gt;&lt;a name=&quot;_Toc289782401&quot; /&gt;&lt;a name=&quot;_Toc285698315&quot; /&gt;&lt;a name=&quot;_Toc285642796&quot; /&gt;&lt;a name=&quot;_Toc285538662&quot; /&gt;&lt;a name=&quot;_Toc285477023&quot; /&gt;&lt;a name=&quot;_Toc285472562&quot; /&gt;&lt;a name=&quot;_Toc284885026&quot; /&gt;&lt;a name=&quot;_Toc284697533&quot; /&gt;&lt;a name=&quot;_Toc316896244&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.5&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Sale and repurchase agreements&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Securities sold subject to repurchase agreements are presented in the consolidated financial statements in &amp;#8220;Financial assets pledged as collateral&amp;#8221;. The counterparty liability is included in &amp;#8220;Deposits from Banks&amp;#8221;. Securities purchased under agreements to resell are recorded in &amp;#8220;Loans and advances to banks&amp;#8221; or &amp;#8220;Loans and advances to customers&amp;#8221;, as appropriate. The difference between sale and repurchase price is treated as interest in the consolidated statement of income and recognized over the life of the agreements using the effective interest rate method. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923256&quot; /&gt;&lt;a name=&quot;_Toc474919307&quot; /&gt;&lt;a name=&quot;_Toc415565834&quot; /&gt;&lt;a name=&quot;_Toc415499813&quot; /&gt;&lt;a name=&quot;_Toc415498648&quot; /&gt;&lt;a name=&quot;_Toc415498524&quot; /&gt;&lt;a name=&quot;_Toc415498295&quot; /&gt;&lt;a name=&quot;_Toc413337823&quot; /&gt;&lt;a name=&quot;_Toc412626155&quot; /&gt;&lt;a name=&quot;_Toc381783335&quot; /&gt;&lt;a name=&quot;_Toc379874055&quot; /&gt;&lt;a name=&quot;_Toc355707585&quot; /&gt;&lt;a name=&quot;_Toc351013966&quot; /&gt;&lt;a name=&quot;_Toc320264313&quot; /&gt;&lt;a name=&quot;_Toc318995666&quot; /&gt;&lt;a name=&quot;_Toc318995464&quot; /&gt;&lt;a name=&quot;_Toc316896246&quot; /&gt;&lt;a name=&quot;_Toc312767221&quot; /&gt;&lt;a name=&quot;_Toc289782402&quot; /&gt;&lt;a name=&quot;_Toc285698316&quot; /&gt;&lt;a name=&quot;_Toc285642797&quot; /&gt;&lt;a name=&quot;_Toc285538663&quot; /&gt;&lt;a name=&quot;_Toc285477024&quot; /&gt;&lt;a name=&quot;_Toc285472563&quot; /&gt;&lt;a name=&quot;_Toc284885027&quot; /&gt;&lt;a name=&quot;_Toc284697534&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.6&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Financial assets and liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization classifies financial assets in the following four categories: measured at fair value through profit or loss; available for sale; held to maturity and loans and receivables. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of financial assets upon initial recognition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;margin-right:46.75pt;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Measured at fair value through profit or loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets are initially recorded at fair value with subsequent changes to the fair value&amp;#160; recognized immediately in profit or loss. These assets can be subdivided into two distinct classifications at the time of initial recognition: financial assets designated&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;at fair value through profit or loss and financial assets held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets designated at fair value through profit or loss &lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization does not have any financial assets designated at fair value through profit or loss. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets held for trading (non-derivatives)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A financial asset is classified as held for trading if it is acquired by Management for the purpose of selling it in the short term or if it is part of a portfolio of identified financial instruments that are managed together for short-term profit or position taking. Derivative financial instruments are also categorized as held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets held for trading are initially recognized in the consolidated statement of financial position at fair value and the transaction costs are recorded directly in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Realized and unrealized gains and losses arising from changes in fair value of non derivative assets are recognized directly in the consolidated statement of income under &amp;#8220;Net gains and losses from financial instruments held for trading.&amp;#8221; Interest income on financial assets held for trading are included in &amp;#8220;Net interest income&amp;#8221;. For the treatment of derivative assets see Note 2(f)(iii).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available-for-sale are non-derivative financial assets that are intended to be held for an undefined period of time, which may be sold in response to needs for liquidity or changes in interest rates, exchange rates, equity prices or that are not classified as loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available-for-sale are initially recognized at fair value, which is the cash consideration including any transaction costs and, subsequently, are measured at fair value with gains and losses being recognized in the consolidated statement of other comprehensive income, except for impairment losses and foreign exchange gains and losses on debt securities, until the financial asset is derecognized. If a financial asset available-for-sale is determined to be impaired, the cumulative gain or loss previously recognized in other comprehensive income is recognized in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest is recognized in the consolidated statement of income using the effective interest method. Dividends on available-for-sale equity instruments are recognized in the consolidated statement of income in &amp;#8216;Dividend income&amp;#39; when the Organization&amp;#39;s right to receive payment is established. Exchange gains and losses on investments in debt securities classified as available for sale are recognized in the consolidated statement of income. See Note 2(f)(viii) for more details of the treatment of impairment losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity are non-derivative financial assets with fixed or determinable payments and fixed term maturities, which the Organization has the positive intention and ability to hold to maturity, and are not designated as at fair value through profit or loss or available for sale and do not meet the definition of loans and receivables.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity are recognized initially at fair value including direct and incremental costs, and are subsequently recorded at amortized cost, using the effective interest rate method. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest on investments held-to-maturity is included in the consolidated statement of income and reported as &amp;#8216;Interest and similar income&amp;#39;. In the case of impairment, the impairment loss is reported as a deduction from the carrying value of the investment and is recognized in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are non-derivative financial assets having fixed or determinable payments that are not quoted in an active market, that have not been designated as &amp;#8220;available for sale&amp;#8221; or &amp;#8220;at fair value through profit or loss&amp;#8221; and that the Organization has no intention of selling, either immediately or in the near term.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are initially measured at their fair value plus direct transaction costs and are subsequently valued at amortized cost using the effective interest rate method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are reported in the consolidated statement of financial position as loans and advances to banks or customers. Interest on loans is included in the consolidated statement of income and is reported as &amp;#8220;Interest and similar income&amp;#8221;. In the case of impairment, the impairment loss is reported as a deduction in carrying amount of loans and advances, and is recognized in the consolidated statement of income as &amp;#8220;Impairment of loans and advances&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization classifies its financial liabilities under the following categories: measured at fair value through profit and loss and amortized cost.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Measured at fair value through profit and loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These financial liabilities are recorded and measured at fair value and the respective changes in fair value are immediately recognized in the income statement. These liabilities can be subdivided into two different classifications upon initial recognition: financial liabilities designated at fair value through profit and loss and financial liabilities held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities designated at fair value through profit and loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization does not have any financial liability classified at fair value through profit and loss in income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities held for trading recognized by the Organization are derivative financial instruments. For the treatment of derivatives see Note 2(f)(iii). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These are financial liabilities that are not classified as at fair value through profit or loss. Initially they are recognized at fair value and, subsequently, are measured at amortized cost. They include deposits from banks and customers, securities issued and subordinated debt securities, among others.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivative financial instruments and hedge transactions&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivatives are initially recognized at fair value on the date the derivative contract is signed and are, subsequently, re-measured at their fair values with the changes recognized in the income statement under &amp;#8220;Net gains and losses from financial instruments for trading.&amp;#8221; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair values are obtained from quoted market prices in active markets (for example, for exchange-traded options), including recent market transactions, and valuation techniques (for example for swaps and foreign currency transactions), such as discounted cash-flow models and options-pricing models, as appropriate. The calculation of fair value, the counterparty&amp;#39;s and the entity&amp;#39;s own credit risk are considered.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Certain derivatives embedded in other financial instruments are treated as separate derivatives when their economic characteristics and risks are not closely related to those of the host contract and the host contract is not recorded at fair value through profit or loss. These embedded derivatives are separately accounted for at fair value, with changes in fair value recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Initially, the Organization recognizes loans and advances, deposits, securities issued and subordinated debts and other financial assets and liabilities on the trade date, in accordance with the contractual provisions of the instrument.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derecognition&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets are derecognized when the contractual rights to receive the cash flows from these assets have ceased to exist or the assets have been transferred and substantially all the risks and rewards of ownership of the assets are also transferred. Financial liabilities are derecognized when they have been discharged, paid, redeemed, cancelled or expired. If a renegotiation or modification of terms of an existing financial asset is such that the cash flows of the modified asset are substantially different from those of the original unmodified asset, then the original financial asset is derecognised and the modified financial asset is recognised as a new financial asset and initially measured at fair value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Offsetting financial instruments &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position when, the Organization has the intention and the legal enforceable right to offset the recognized amounts on a net basis or realize the asset and settle the liability simultaneously.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Determination of fair value&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The determination of the fair values for the majority of financial assets and liabilities is based on the market price or quotes of security dealers for financial instruments traded in an active market. The fair value for other instruments is determined using valuation techniques. The valuation techniques which include use of recent market transactions, discounted cash flow method, comparison with other instruments similar to those for which there are observable market prices and valuation models.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For more common other instruments the Organization uses widely accepted valuation models that consider observable market data in order to determine the fair value of financial instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For more complex instruments, the Organization uses own models that are usually developed from standard valuation models. Some of the information included in the models may not be observable in the market and is derived from market prices or rates or may be estimated on the basis of assumptions. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The value produced by a model or by a valuation technique is adjusted to reflect various factors, since the valuation techniques do not necessarily reflect all of the factors that market participants take into account during a transaction.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The valuations are adjusted to consider the risks of the models, differences between the buy and sell price, credit and liquidity risks, as well as other factors. Management believes that such valuation adjustments are necessary and appropriate for the correct evaluation of the fair value of the financial instruments recorded in the consolidated statement of financial position.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of financial assets &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.75pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(a)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets recognized at amortized cost &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On each reporting date, the Organization assesses whether there is objective evidence that financial assets are impaired. The impairment losses are recognized only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a &amp;#8216;loss event&amp;#39;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The criteria that the Organization uses to determine that there is objective evidence of an impairment include: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;significant financial difficulty of the issuer or obligor; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a breach of contract, such as a default or delinquency in interest or principal payments;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the granting to the borrower of a concession that the lender would not otherwise consider for economic or legal reasons relating to the borrower&amp;#39;s financial difficulty; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;when it becomes probable that the borrower will enter bankruptcy or other financial reorganization; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the disappearance of an active market for that financial asset because of financial difficulties; or &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;observable data indicating that there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the loss event cannot yet be identified at the level of the individual financial assets in the portfolio, including:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:127.6pt;margin-right:0in;margin-top:0in;text-indent:-21.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;adverse changes in the payment status of group assessed borrowers; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:127.6pt;margin-right:0in;margin-top:0in;text-indent:-21.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;national or local economic conditions that correlate with defaults in the assets. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization takes into consideration evidence of impairment loss for both individually significant assets and groups of assets. All significant financial assets are evaluated to detect specific losses. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All significant assets for which the assessment indicates that there is no specific impairment are assessed as a group to detect any impairment loss that may have occurred, although not yet identified. The financial assets which are not individually significant are assessed as a group to detect any collective impairment loss (recorded at the amortized cost) based on similar risk features. Assets that are individually assessed for impairment and for which an impairment loss is recognized are not included in a collective assessment of impairment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The amount of loss is measured as the difference between the asset&amp;#39;s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset&amp;#39;s original effective interest rate. The carrying amount of the asset is reduced through provisions and the amount of the loss is recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of the present value of the estimated future cash flows of a collateralized financial asset reflects the cash flows that may result from foreclosure less costs for obtaining and selling the collateral.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the purposes of a collective evaluation of impairment, financial assets are grouped on the basis of similar credit-risk characteristics (that is, on the basis of the Organization&amp;#39;s rating process that considers product type, market segment, geographical location, collateral type, past-due status and other related factors). Those characteristics are relevant to the estimation of future cash flows for groups of such assets by being indicative of the debtors&amp;#39; ability to pay all amounts due according to the contractual terms of the assets being evaluated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Future cash flows in a group of financial assets that are collectively evaluated for impairment are estimated on the basis of the contractual cash flows of the assets in the group and historical loss experience for assets with credit-risk characteristics similar to those in the group. Historical loss experience is adjusted on the basis of current observable data to reflect the effects of current conditions that did not affect the period on which the historical loss experience is based and to remove the effects of conditions in the historical period that do not currently exist.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The methodology and assumptions used for estimating future cash flows are reviewed regularly to mitigate any differences between loss estimates and actual loss experience.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Following impairment losses, interest income is recognized using the effective rate of interest which was used to discount the future cash flows for the purpose of measuring the impairment loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When a loan is uncollectible, it is written off against the related allowance for loan impairment. Such loans are written off after all the relevant collection procedures have been completed and the amount of the loss has been determined. Subsequent recoveries of amounts previously written off are credited to the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.75pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(b)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets classified as available for sale &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization assesses, at each reporting date, whether there is objective evidence that a financial asset or group of financial assets is impaired. For debt securities the Organization adopts the assessment described in item (a) above, in order to identify an impairment event.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the case of equity investments classified as available for sale, a significant or prolonged decline in the fair value of the security below its cost is considered objective evidence of impairment resulting in the recognition of an impairment loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;If any such evidence exists for available-for- sale financial assets, the cumulative loss - measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss - is removed from equity and recognized in the income statement.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;If, in a subsequent period, the fair value increases, for debt instrument classified as available for sale, and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss is reversed through the consolidated statement of income. Impairment losses recognized in the consolidated statement of income on equity instruments are not reversed through the consolidated statement of income. Increases in the fair value of equity instruments after impairment are recognized in other comprehensive income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923257&quot; /&gt;&lt;a name=&quot;_Toc474919308&quot; /&gt;&lt;a name=&quot;_Toc415565835&quot; /&gt;&lt;a name=&quot;_Toc415499814&quot; /&gt;&lt;a name=&quot;_Toc415498649&quot; /&gt;&lt;a name=&quot;_Toc415498525&quot; /&gt;&lt;a name=&quot;_Toc415498296&quot; /&gt;&lt;a name=&quot;_Toc413337824&quot; /&gt;&lt;a name=&quot;_Toc412626156&quot; /&gt;&lt;a name=&quot;_Toc381783336&quot; /&gt;&lt;a name=&quot;_Toc379874056&quot; /&gt;&lt;a name=&quot;_Toc355707586&quot; /&gt;&lt;a name=&quot;_Toc351013967&quot; /&gt;&lt;a name=&quot;_Toc320264314&quot; /&gt;&lt;a name=&quot;_Toc318995667&quot; /&gt;&lt;a name=&quot;_Toc318995465&quot; /&gt;&lt;a name=&quot;_Toc316896247&quot; /&gt;&lt;a name=&quot;_Toc312767222&quot; /&gt;&lt;a name=&quot;_Toc289782403&quot; /&gt;&lt;a name=&quot;_Toc285698317&quot; /&gt;&lt;a name=&quot;_Toc285642798&quot; /&gt;&lt;a name=&quot;_Toc285538664&quot; /&gt;&lt;a name=&quot;_Toc285477025&quot; /&gt;&lt;a name=&quot;_Toc285472564&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.7&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Non-current assets held for sale &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Under certain circumstances, property is repossessed following foreclosure of loans that are in default. Repossessed properties are measured at the lower of their carrying amount and fair value less the costs to sell and are included within &amp;#8220;Non-current assets held for sale.&amp;#8221; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923258&quot; /&gt;&lt;a name=&quot;_Toc474919309&quot; /&gt;&lt;a name=&quot;_Toc415565836&quot; /&gt;&lt;a name=&quot;_Toc415499815&quot; /&gt;&lt;a name=&quot;_Toc415498650&quot; /&gt;&lt;a name=&quot;_Toc415498526&quot; /&gt;&lt;a name=&quot;_Toc415498297&quot; /&gt;&lt;a name=&quot;_Toc413337825&quot; /&gt;&lt;a name=&quot;_Toc412626157&quot; /&gt;&lt;a name=&quot;_Toc381783339&quot; /&gt;&lt;a name=&quot;_Toc379874059&quot; /&gt;&lt;a name=&quot;_Toc355707589&quot; /&gt;&lt;a name=&quot;_Toc351013970&quot; /&gt;&lt;a name=&quot;_Toc320264317&quot; /&gt;&lt;a name=&quot;_Toc318995670&quot; /&gt;&lt;a name=&quot;_Toc318995468&quot; /&gt;&lt;a name=&quot;_Toc316896250&quot; /&gt;&lt;a name=&quot;_Toc312767225&quot; /&gt;&lt;a name=&quot;_Toc289782406&quot; /&gt;&lt;a name=&quot;_Toc285698320&quot; /&gt;&lt;a name=&quot;_Toc285642801&quot; /&gt;&lt;a name=&quot;_Toc285538667&quot; /&gt;&lt;a name=&quot;_Toc285477028&quot; /&gt;&lt;a name=&quot;_Toc285472567&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.8&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Property and equipment&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition and valuation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses (see Note 2(k) below), if any.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cost includes expenses directly attributable to the acquisition of an asset.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cost of assets internally produced includes the cost of materials and direct labor, as well as any other costs that can be directly allocated and that are necessary for them to function. Software acquired for the operation of the related equipment is recorded as part of the equipment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When different parts of an item have different useful lives, and separate control is practical, they are recorded as separate items (main components) comprising the property and equipment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Gains and losses from the sale of &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; are determined by comparing proceeds received with the carrying amount of the asset and are recorded in the consolidated income statement under the heading &amp;#8220;Other operating income/(expenses).&amp;#8221;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsequent costs&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization for more than one year and the cost can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance costs are charged to the consolidated statement of income during the reporting period in which they are incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation is recognized in the consolidated statement of income using the straight-line basis and taking into consideration the estimated useful economic life of the assets. The depreciable amount is the gross-carrying amount, less the estimated residual value at the end of the useful economic life. Land is not depreciated. Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923259&quot; /&gt;&lt;a name=&quot;_Toc474919310&quot; /&gt;&lt;a name=&quot;_Toc415565837&quot; /&gt;&lt;a name=&quot;_Toc415499816&quot; /&gt;&lt;a name=&quot;_Toc415498651&quot; /&gt;&lt;a name=&quot;_Toc415498527&quot; /&gt;&lt;a name=&quot;_Toc415498298&quot; /&gt;&lt;a name=&quot;_Toc413337826&quot; /&gt;&lt;a name=&quot;_Toc412626158&quot; /&gt;&lt;a name=&quot;_Toc381783340&quot; /&gt;&lt;a name=&quot;_Toc379874060&quot; /&gt;&lt;a name=&quot;_Toc355707590&quot; /&gt;&lt;a name=&quot;_Toc351013971&quot; /&gt;&lt;a name=&quot;_Toc320264318&quot; /&gt;&lt;a name=&quot;_Toc318995671&quot; /&gt;&lt;a name=&quot;_Toc318995469&quot; /&gt;&lt;a name=&quot;_Toc316896251&quot; /&gt;&lt;a name=&quot;_Toc312767226&quot; /&gt;&lt;a name=&quot;_Toc289782407&quot; /&gt;&lt;a name=&quot;_Toc285698321&quot; /&gt;&lt;a name=&quot;_Toc285642802&quot; /&gt;&lt;a name=&quot;_Toc285538668&quot; /&gt;&lt;a name=&quot;_Toc285477029&quot; /&gt;&lt;a name=&quot;_Toc285472568&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.9&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Intangible assets &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Intangible assets comprise separately identifiable non-monetary items, without physical substance due to business combinations, such as goodwill and other purchase intangible assets, computer software and other such intangible assets. Intangible assets are recognized at cost. The cost of an intangible asset, acquired in a business combination, is its fair value at the date of acquisition. Intangible assets with a definite useful life are amortized over their estimated useful economic life. Intangible assets with an indefinite useful life are not amortized. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Generally, the identified intangible assets of the Organization have a definite useful life. At each reporting date, intangible assets are reviewed for indications of impairment or changes in estimated future economic benefits - see Note 2(k) below.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill (or bargain purchase gain) arises on the acquisition of subsidiaries, associates and joint ventures.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill reflects the excess of the cost of acquisition in relation to the Organization&amp;#39;s share of the fair value of net identifiable assets or liabilities of an acquired subsidiary, associate or joint venture on the date of acquisition. Goodwill originated from the acquisition of subsidiaries is recognized as &amp;#8220;Intangible Assets&amp;#8221;, and the goodwill from acquisition of associates and joint ventures is included in the carrying amount of the investment, (see Note 2(b)(ii)). When the difference between the cost of acquisition and the Organization&amp;#39;s share of the fair value of net identifiable assets or liabilities is negative (bargain purchase gain), it is immediately recognized in the consolidated statement of income as a gain on the acquisition date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill is tested annually, as well as whenever a trigger event has been observed, for impairment (see Note 2(k) below). Gains and losses realized in the sale of an entity include consideration of the carrying amount of goodwill relating to the entity sold. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Software&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Software acquired by the Organization is recorded at cost, less accumulated amortization and accumulated impairment losses, if any. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Internal software-development expenses are recognized as assets when the Organization can demonstrate its intention and ability to complete the development, and use the software in order to generate future economic benefits. The capitalized costs of internally developed software include all costs directly attributable to development and are amortized over their useful lives. Internally developed software is recorded at its capitalized cost less amortization and impairment losses (see Note 2(k) below).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsequent software expenses are capitalized only when they increase the future economic benefits incorporated in the specific asset to which it relates. All other expenses are recorded as expenses as incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Amortization is recognized in the consolidated statement of income using the straight-line method over the estimated useful life of the software, beginning on the date that it becomes available for use. The estimated useful life of software is from two to five years. Useful lives and residual values are reviewed at each reporting date and adjusted, if necessary.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other intangible assets&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other intangible assets refer basically to the customer portfolio and acquisition of banking service rights. They are recorded at cost less amortization and impairment losses, if any, and are amortized for the period in which the asset is expected to contribute, directly or indirectly, to the future cash flows. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These intangible assets are reviewed annually, or whenever events or changes in circumstances occur which could indicate that the carrying amount of the assets cannot be recovered. If necessary, the write-off or impairment (see Note 2(k) below) is immediately recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923260&quot; /&gt;&lt;a name=&quot;_Toc474919311&quot; /&gt;&lt;a name=&quot;_Toc415565838&quot; /&gt;&lt;a name=&quot;_Toc415499817&quot; /&gt;&lt;a name=&quot;_Toc415498652&quot; /&gt;&lt;a name=&quot;_Toc415498528&quot; /&gt;&lt;a name=&quot;_Toc415498299&quot; /&gt;&lt;a name=&quot;_Toc413337827&quot; /&gt;&lt;a name=&quot;_Toc412626159&quot; /&gt;&lt;a name=&quot;_Toc381783341&quot; /&gt;&lt;a name=&quot;_Toc379874061&quot; /&gt;&lt;a name=&quot;_Toc355707591&quot; /&gt;&lt;a name=&quot;_Toc351013972&quot; /&gt;&lt;a name=&quot;_Toc320264319&quot; /&gt;&lt;a name=&quot;_Toc318995672&quot; /&gt;&lt;a name=&quot;_Toc318995470&quot; /&gt;&lt;a name=&quot;_Toc316896252&quot; /&gt;&lt;a name=&quot;_Toc312767227&quot; /&gt;&lt;a name=&quot;_Toc289782408&quot; /&gt;&lt;a name=&quot;_Toc285698322&quot; /&gt;&lt;a name=&quot;_Toc285642803&quot; /&gt;&lt;a name=&quot;_Toc285538669&quot; /&gt;&lt;a name=&quot;_Toc285477030&quot; /&gt;&lt;a name=&quot;_Toc285472569&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.10&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Leasing&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has both operating and finance leases and operates as a lessee and a lessor.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Leases in which a significant part of the risks and benefits of the asset is borne by the lessor are classified as operating leases. For leases in which a significant part of the risks and benefits of the asset is borne by the lessee, the leases are classified as financial lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Leases under the terms of which the Organization assumes substantially all the risks and rewards of ownership are classified as finance leases. Upon initial recognition, the leased asset is measured at an amount equal to the lower of its fair value and the present value of the minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that asset.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As a lessee, the Organization classifies its leasing operations mainly as operating leases, and the monthly payments are recognized in the financial statements using the straight-line method over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term of the lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When an operating lease is terminated before the contract expires, any payment that may be made to the lessor in the form of a penalty is recognized as an expense for the period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent lease payments are accounted for by revising the minimum lease payments over&amp;#160; the remaining term of the lease when the lease adjustment is confirmed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As a lessor, the Organization has substantial finance lease contracts, both in value and total number of contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Finance Leases&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:28.35pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Finance lease assets in the consolidated statement of financial position are initially recognized in the &amp;#8220;loans and advances&amp;#8221; account at an amount equal to the net investment in the lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The initial direct costs generally incurred by the Organization are included in the initial measurement of the lease receivable and recognized as part of the effective interest rate of the contract, decreasing the amount of income recognized over the lease term. These initial costs include amounts for commissions, legal fees and internal costs. The costs incurred in relation to the negotiation, structuring and sales of leases are excluded from the definition of initial direct costs and therefore are recognized as expenses at the beginning of the lease term.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition of financial revenue reflects a constant rate of return on the net investment made by the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The estimated non-guaranteed residual values used in the calculation of the gross investment of the lessor in the lease are reviewed at least annually. If there is a decrease in the estimated non-guaranteed residual value, the income allocated over the period of the lease is also reviewed periodically and any decrease in relation to the accumulated values is immediately recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:28.35pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Operating leases&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The assets&lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;leased under operating leases, where the Organization acts as lessor, are recognized in the consolidated statement of financial position as property and equipment according to the nature of the item leased.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The initial direct costs incurred by the Organization are added to the carrying amount of the leased asset and are recognized as expenses over the period of the lease and on the same basis as the income recognition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenue from lease is recognized using the straight-line method over the term of the lease, even if the payments are not made on the same basis. Costs, including depreciation and maintenance, incurred in the generation of income are recognized as expenses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The depreciation policy for leased assets is the same as the depreciation policy used by the Organization for similar assets.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-33.55pt;&quot;&gt;&lt;a name=&quot;_Toc474923261&quot; /&gt;&lt;a name=&quot;_Toc474919312&quot; /&gt;&lt;a name=&quot;_Toc415565839&quot; /&gt;&lt;a name=&quot;_Toc415499818&quot; /&gt;&lt;a name=&quot;_Toc415498653&quot; /&gt;&lt;a name=&quot;_Toc415498529&quot; /&gt;&lt;a name=&quot;_Toc415498300&quot; /&gt;&lt;a name=&quot;_Toc413337828&quot; /&gt;&lt;a name=&quot;_Toc412626160&quot; /&gt;&lt;a name=&quot;_Toc381783342&quot; /&gt;&lt;a name=&quot;_Toc379874062&quot; /&gt;&lt;a name=&quot;_Toc355707592&quot; /&gt;&lt;a name=&quot;_Toc351013973&quot; /&gt;&lt;a name=&quot;_Toc320264320&quot; /&gt;&lt;a name=&quot;_Toc318995673&quot; /&gt;&lt;a name=&quot;_Toc318995471&quot; /&gt;&lt;a name=&quot;_Toc316896253&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.11&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Impairment losses on non-financial assets (except for deferred tax assets)&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets that have an indefinite useful life such as goodwill are not subject to amortization and are tested, at least, annually at the same date to verify the existence of impairment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets, which are subject to amortization or depreciation, are reviewed to verify impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized based on the excess the carrying amount of the &amp;#160;asset or the cash generating unit (CGU) over its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its fair value, less costs to sell, and its value in use.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the purpose of impairment testing, the assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to a ceiling of the operating segments, for the purpose of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGU&amp;#39;s that are expected to benefit from the synergies of the combination. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The recoverable amount is the higher of an asset/CGU&amp;#39;s fair value less costs to sell and its value in use. When assessing the value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects the current market conditions of the time value of money and the specific risks of the asset or CGU.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s corporate assets do not generate separate cash inflows and are utilized by more than one CGU. Corporate assets are allocated to CGU&amp;#39;s on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment losses are recognized in the consolidated Statement of Income. Impairment losses recognized in respect of CGU&amp;#39;s are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGU&amp;#39;s) and then to reduce the carrying amount of the other assets in the CGU (group of CGU&amp;#39;s) on a pro rata basis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;An impairment of goodwill cannot be reversed. With regard to other assets, an impairment loss recognized in previous periods is reassessed at each reporting date for any indications that the impairment has decreased or no longer exists. An impairment loss will be reversed if there has been a change in the estimates used to determine the recoverable amount or to the extent that the carrying amount of the asset does not exceed the carrying amount that would have been determined, net of depreciation and amortization, if no impairment had been recognized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923262&quot; /&gt;&lt;a name=&quot;_Toc474919313&quot; /&gt;&lt;a name=&quot;_Toc415565840&quot; /&gt;&lt;a name=&quot;_Toc415499819&quot; /&gt;&lt;a name=&quot;_Toc415498654&quot; /&gt;&lt;a name=&quot;_Toc415498530&quot; /&gt;&lt;a name=&quot;_Toc415498301&quot; /&gt;&lt;a name=&quot;_Toc413337829&quot; /&gt;&lt;a name=&quot;_Toc412626161&quot; /&gt;&lt;a name=&quot;_Toc381783343&quot; /&gt;&lt;a name=&quot;_Toc379874063&quot; /&gt;&lt;a name=&quot;_Toc355707593&quot; /&gt;&lt;a name=&quot;_Toc351013974&quot; /&gt;&lt;a name=&quot;_Toc320264321&quot; /&gt;&lt;a name=&quot;_Toc318995674&quot; /&gt;&lt;a name=&quot;_Toc318995472&quot; /&gt;&lt;a name=&quot;_Toc316896254&quot; /&gt;&lt;a name=&quot;_Toc312767229&quot; /&gt;&lt;a name=&quot;_Toc289782410&quot; /&gt;&lt;a name=&quot;_Toc285698324&quot; /&gt;&lt;a name=&quot;_Toc285642805&quot; /&gt;&lt;a name=&quot;_Toc285538671&quot; /&gt;&lt;a name=&quot;_Toc285477032&quot; /&gt;&lt;a name=&quot;_Toc285472571&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.12&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Deposits, debt securities issued and subordinated liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deposits, debt securities issued and subordinated liabilities are the main sources of funding used by the Organization to finance its operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;They are initially recorded at fair value plus transaction costs and are subsequently measured at amortized cost using the effective interest method.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923263&quot; /&gt;&lt;a name=&quot;_Toc474919314&quot; /&gt;&lt;a name=&quot;_Toc415565841&quot; /&gt;&lt;a name=&quot;_Toc415499820&quot; /&gt;&lt;a name=&quot;_Toc415498655&quot; /&gt;&lt;a name=&quot;_Toc415498531&quot; /&gt;&lt;a name=&quot;_Toc415498302&quot; /&gt;&lt;a name=&quot;_Toc413337830&quot; /&gt;&lt;a name=&quot;_Toc412626162&quot; /&gt;&lt;a name=&quot;_Toc381783344&quot; /&gt;&lt;a name=&quot;_Toc379874064&quot; /&gt;&lt;a name=&quot;_Toc355707594&quot; /&gt;&lt;a name=&quot;_Toc351013975&quot; /&gt;&lt;a name=&quot;_Toc320264322&quot; /&gt;&lt;a name=&quot;_Toc318995675&quot; /&gt;&lt;a name=&quot;_Toc318995473&quot; /&gt;&lt;a name=&quot;_Toc316896255&quot; /&gt;&lt;a name=&quot;_Toc312767230&quot; /&gt;&lt;a name=&quot;_Toc289782411&quot; /&gt;&lt;a name=&quot;_Toc285698325&quot; /&gt;&lt;a name=&quot;_Toc285642806&quot; /&gt;&lt;a name=&quot;_Toc285538672&quot; /&gt;&lt;a name=&quot;_Toc285477033&quot; /&gt;&lt;a name=&quot;_Toc285472572&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.13&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Provisions, contingent liabilities and contingent assets&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A provision is recognized when, as a result of a past event, the Organization has a present legal or constructive obligation that can be reliably estimated and it is probable that an outflow of resources will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Provisions were established by Management whenever it considers that there is a probable loss taking into account the opinion of their legal advisors; the nature of the actions; the similarity to previous suits; the complexity and the positioning of the Courts. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent Liabilities are not recognized, since their existence will only be confirmed by the occurrence or not of one or more future and uncertain events that are not totally under the control of the Management. Contingent liabilities do not meet the criteria for recognition, since they are considered as possible losses and should only be disclosed in explanatory notes, when relevant. Obligations classified as remote are neither provisioned nor disclosed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent assets are recorded only when there are real guarantees or favorable and non-appealable court decisions, and when the gain is considered to be virtually certain. Contingent assets for which the expectation is the outcome will be favorable are only disclosed in the financial statements, when material. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923264&quot; /&gt;&lt;a name=&quot;_Toc474919315&quot; /&gt;&lt;a name=&quot;_Toc415565842&quot; /&gt;&lt;a name=&quot;_Toc415499821&quot; /&gt;&lt;a name=&quot;_Toc415498656&quot; /&gt;&lt;a name=&quot;_Toc415498532&quot; /&gt;&lt;a name=&quot;_Toc415498303&quot; /&gt;&lt;a name=&quot;_Toc413337831&quot; /&gt;&lt;a name=&quot;_Toc412626163&quot; /&gt;&lt;a name=&quot;_Toc381783345&quot; /&gt;&lt;a name=&quot;_Toc379874065&quot; /&gt;&lt;a name=&quot;_Toc355707595&quot; /&gt;&lt;a name=&quot;_Toc351013976&quot; /&gt;&lt;a name=&quot;_Toc320264323&quot; /&gt;&lt;a name=&quot;_Toc318995676&quot; /&gt;&lt;a name=&quot;_Toc318995474&quot; /&gt;&lt;a name=&quot;_Toc316896256&quot; /&gt;&lt;a name=&quot;_Toc312767231&quot; /&gt;&lt;a name=&quot;_Toc289782412&quot; /&gt;&lt;a name=&quot;_Toc285698326&quot; /&gt;&lt;a name=&quot;_Toc285642807&quot; /&gt;&lt;a name=&quot;_Toc285538673&quot; /&gt;&lt;a name=&quot;_Toc285477034&quot; /&gt;&lt;a name=&quot;_Toc285472573&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.14&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Classification of insurance contracts and investments&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;An insurance contract is a contract in which the Organization accepts a significant insurance risk from the policy holder by agreeing to compensate the policyholder if a specific, uncertain, future event adversely affects the policy holder. Reinsurance contracts are also treated as insurance contracts because they transfer significant insurance risk. Contracts in the Insurance segment classified as investment contracts are related to our capitalization bonds, which do not transfer significant insurance risk and are accounted for as financial instruments in accordance with IAS 39 - Financial Instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923265&quot; /&gt;&lt;a name=&quot;_Toc474919316&quot; /&gt;&lt;a name=&quot;_Toc415565843&quot; /&gt;&lt;a name=&quot;_Toc415499822&quot; /&gt;&lt;a name=&quot;_Toc415498657&quot; /&gt;&lt;a name=&quot;_Toc415498533&quot; /&gt;&lt;a name=&quot;_Toc415498304&quot; /&gt;&lt;a name=&quot;_Toc413337832&quot; /&gt;&lt;a name=&quot;_Toc412626164&quot; /&gt;&lt;a name=&quot;_Toc381783346&quot; /&gt;&lt;a name=&quot;_Toc379874066&quot; /&gt;&lt;a name=&quot;_Toc355707596&quot; /&gt;&lt;a name=&quot;_Toc351013977&quot; /&gt;&lt;a name=&quot;_Toc320264324&quot; /&gt;&lt;a name=&quot;_Toc318995677&quot; /&gt;&lt;a name=&quot;_Toc318995475&quot; /&gt;&lt;a name=&quot;_Toc316896257&quot; /&gt;&lt;a name=&quot;_Toc312767232&quot; /&gt;&lt;a name=&quot;_Toc289782413&quot; /&gt;&lt;a name=&quot;_Toc285698327&quot; /&gt;&lt;a name=&quot;_Toc285642808&quot; /&gt;&lt;a name=&quot;_Toc285538674&quot; /&gt;&lt;a name=&quot;_Toc285477035&quot; /&gt;&lt;a name=&quot;_Toc285472574&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.15&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Insurance and pension plan technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property damage&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts less initial contracting costs. &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The portion of these reserves corresponding to the estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &amp;#8216;PPNG-RVNE&amp;#39;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Incurred But Not Reported (IBNR) is constituted based on the claims incurred and not yet paid (IBNP), subtracting the balance of the Provision for Claims to be settled (PSL) at the base date of calculation. To calculate the IBNP, the final estimate of claims that have not yet been paid based on semiannual run-off triangles, which consider the historical development of the claims paid in the last 10 semesters for the branches of damages and the last 11 quarters for the extended guarantee business, in order to establish a future projection by period of occurrence of occurrence and also considers the estimate of claims Incurred But Not Enough Reported (IBNER), reflecting the expectation of alteration of the provisioned amount throughout the regulation process. Until the base date of December 2016, only IBNR was constituted, without IBNER segregation. This change in methodology was made in January 2017 in the automobile portfolio in order to allow better allocation of capital among the loss provisions, and had no impact on the results of the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) is determined based on the indemnity payment estimates, considering all administrative and judicial claims existing at the reporting date, restated monetarily, net of salvage and payments expected to be received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for related expenses (PDR) is recorded on a monthly basis to cover expenses related to estimated claims and benefits. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;It covers both costs that can be individually allocated to each claim as well as claims costs not discriminated, meaning those incurred at the portfolio level.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;shall be established when there is insufficiency of the technical provisions required under the legislation, as determined in the Liability Adequacy Test (see Note 2(o)(vi) below). At the reporting date management did not identify the need for PCC on property damage contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other technical provisions (OPT) correspond to the Provision for Administrative Expenses (PDA) arising on the Mandatory Insurance For Personal Injury Caused by Motor Vehicles (DPVAT) insurance operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Life insurance, excluding life insurance with survival coverage (VGBL product)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, but including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts and includes an&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &amp;#8216;PPNG-RVNE&amp;#39;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Mathematical Provision for Benefits to be Granted (PMBaC) is calculated by the difference between the present value of the future benefits and the present value of the future contributions to be received for these benefits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Redemptions and other Amounts to be Settled (PVR) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters, to establish a future projection per period of occurrence. A residual cause study is carried out to forecast the claims reported after 10 semesters of the date of occurrence.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The change in the calculation methodology of IBNP, which considered 16 semesters of claims development, to reflect a higher level of precison in the estimate within the current portfolio of the Organization . The change generated a reduction of approximately R$ 180 million in the provision of IBNR, net of reinsurance. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation and includes all claims in litigation&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) refers to the amount necessary to complement technical reserves, as calculated through the Liability Adequacy Test. &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;LAT is calculated&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; using statistical and actuarial methods based on realistic considerations, taking into account the biometric table BR-EMS of both genders, adjusted by longevity development criteria compatible with the latest published versions and improvement using a risk free forward interest rate structures which was approved by SUSEP to discount the future cash flows. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Technical Surplus Provision (PET) corresponds to the difference between the value of the expected cost and the actual cost of claims that occurred during the period for contracts of individual life insurance with rights to participate in technical surplus.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For products structured under a capitalization regime, the reserve covers the expected expenses related to incurred claims and also claims expected to be incurred in the future.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Health and Dental Insurance&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for claims incurred but not reported (IBNR) is calculated from the final estimate of claims already incurred and still not reported, based on monthly run-off triangles that consider the historical development of claims reported in the last 12 months for health insurance and 18 months for dental insurance, to establish a future projection per period of occurrence&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The provision for unsettled claims (PSL) is based on claims received up to the reporting date, including judicial claims and related costs adjusted for inflation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBAC) relates to the individual health care plan portfolio and accounts for the risk related to the cover of the holder&amp;#39;s dependents for five years following the death of the holder. It is calculated using: a 4.5% annual&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;discount rate &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;; the period over which holders are expected to remain in the plan up to their death; and the projected costs of the five-year-period cover in which no premiums will be received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve of benefits granted (PMBC) is constituted by the obligations arising from the contractual clauses of remission of installments in cash, regarding the coverage of health assistance and by the premiums through payment of insured persons participating in the Bradesco Sa&amp;#250;de insurance - &quot;GBS Plan&quot;, and considering a discount rate of 4.5% per annum &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The unearned premium or contribution reserve (PPCNG) is calculated on the currently effective contracts on a daily pro-rata basis based on the portion of health insurance premiums corresponding to the remaining period of coverage.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The other provisions for the individual health portfolio are constituted to cover differences between the expected present value of claims and related future costs and the expected present value of future premiums, considering a discount rate of 4.5% per year &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Operations with DPVAT Insurance&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenues from DPVAT premiums and the related technical reserves are recorded gross, based on reports received from Seguradora Lider S.A. which acts as the &amp;#8220;lead insurer&amp;#8221; of the Consortium of Insurance DPVAT S.A. in proportion to the percentage of Bradesco&amp;#39;s stake in the consortium. It is the function of the lead insurer to collect the premiums, coordinate policy issuance, settle claims and manage the administrative costs within the consortium, in accordance with the CNSP Normative Resolution n&amp;#186; 332/15. As defined in the regulations of the consortium, 50% of the monthly net income is distributed to the consortium&amp;#39;s members in the following month. The remaining 50% of the monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Open pension plans and life insurance with survival coverage (VGBL product)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The unearned premium reserve (PPNG) is calculated on a daily pro-rata basis, using net premiums and is comprised of the portion corresponding to the remaining period of coverage and includes an estimate for risks covered but not yet issued (RVNE).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBaC) is constituted to the participants who have not yet received any benefit. In defined benefit pension plans, the reserve represents the difference between the present value of future benefits and the present value of future contributions, corresponding to obligations assumed in the form of retirement, disability, pension and annuity plans. The reserve is calculated using methodologies and assumptions set forth in the actuarial technical notes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBaC) related to life insurance with survival coverage and unrestricted benefit pension plans (VGBL and PGBL), and defined contribution plans, includes the contributions, received from participants, net of costs and other contractual charges, plus the financial return generated through the investment of these amounts in units of specially constituted investment funds (FIE).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Redemptions and other Amounts to be Settled (PVR) comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for vested benefits (PMBC) is recognized for participants already receiving benefits and corresponds to the present value of future obligations related to the payment of those on-going benefits&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) refers to the amount necessary to complement technical reserves, as calculated through the Liability Adequacy Test (see Note 2(n)(vi)).&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; LAT is prepared using statistical and actuarial methods based on realistic assumptions, taking into account the biometric table BR-EMS of both genders,&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;adjusted by longevity development criteria compatible with the latest versions disclosed improvement and forward interest rate curves (ETTJ) free from risk as authorized by SUSEP. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For plans structured under a capitalization regime, the reserve is made to cover the expected expenses related to incurred claims and also claims expected to be incurred in the future. The projections are performed through the passive adequacy test (LAT).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Financial Surplus Provision (PEF) corresponds to the financial result, which exceeds the guaranteed minimum profitability of contracts with a financial surplus participation clause.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters (16 semesters in 2016) to establish a future projection by period of occurrence. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Liability Adequacy Test (LAT)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization conducted the liability adequacy test for all the contracts that meet the definition of an insurance contract according to IFRS 4 and which are in force on the date of execution of the test. This test is conducted every six months and the liability of insurance contracts, gross of reinsurance, is calculated as the sum of the carrying amount, deducting the deferred acquisition costs and the related intangibles. This is compared to the expected cash flows arising from the obligations under commercialized contracts and certificates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The test considerers projections of claims and benefits that have occurred and are to occur, administrative expenses, allocable expenses related to the claims, intrinsic options and financial surpluses, salvage and recoveries&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;and other income and expense directly related to the insurance contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To calculate the present value of projected cash flows, the Organization &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;used the risk free forward (ETTJ) rate which was approved by SUSEP.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;According to SUSEP Circular n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 517/2015&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;and subsequent changes, the test was segmented between life insurance and pension products and property coverage, and liabilities related to DPVAT insurance were not included in the adequacy test.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Life and pension products&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For private pension products and Life Insurance with Coverage for Survival, &lt;/font&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the contracts are grouped based on similar risks or when the insurance risk is managed jointly by the Administration.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cash flows related to future premiums not recorded in the PPNG were only included in the projections when the result of the LAT without these values was negative.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The projected average loss ratio was 42% for individual and collective individuals, obtained from analysis based on triangles for the development of Company claims generated with information from January 2007.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of LAT made for the base date December 2017, considered the update of the assumption of Rate of Conversion into Income (TCR) of PGBL and VGBL pension plans. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The result of the liability adequacy test for life insurance was fully recognized in the income statement, as set out in SUSEP Circular No. 517/15 (note 35a). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Property Coverage&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The expected present value of cash flows relating to claims incurred - primarily claims costs and salvage recoveries - was compared to the technical provisions for claims incurred - PSL and IBNR.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The expected present value of cash flows relating to claims to be incurred on the policies in force, plus any administrative expenses and other expenses relating to products in run-off, was compared to the sum of the related technical provisions - PPNG and PPNG-RVNE.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The projected average loss ratio was 15.19% for the Extended Guarantee segment and 50.21% for the elementary lines, which were strongly influenced by the estimate of the future premium of the housing insurance portfolio, which is characterized by low loss ratio and long terms , since it accompanies the period of financing of the property.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The average reinsurance projected in the study, calculated on the basis of reported claims was 2.05%.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The result of the liability adequacy test, for property coverage, did not present insufficiency and, consequently, no additional PCC provisions were recorded.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923266&quot; /&gt;&lt;a name=&quot;_Toc474919317&quot; /&gt;&lt;a name=&quot;_Toc415565844&quot; /&gt;&lt;a name=&quot;_Toc415499823&quot; /&gt;&lt;a name=&quot;_Toc415498658&quot; /&gt;&lt;a name=&quot;_Toc415498534&quot; /&gt;&lt;a name=&quot;_Toc415498305&quot; /&gt;&lt;a name=&quot;_Toc413337833&quot; /&gt;&lt;a name=&quot;_Toc412626165&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.16&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Reinsurance contracts&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reinsurance contracts are used in the normal course of operations with the purpose of limiting potential losses, by spreading risks. Liabilities relating to contracts that have been reinsured are presented gross of their respective recoveries, which are booked as assets since the existence of the reinsurance contract does not nullify the Organization&amp;#39;s obligations with the insured parties.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As required by the regulators, reinsurance companies with headquarters abroad must have a minimum rating from a risk classification agency to reinsure risks all other reinsurance operations must be with national missing If there are indications that the amounts recorded will not be realized by its carrying amount, these assets will be adjusted for impairment. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923267&quot; /&gt;&lt;a name=&quot;_Toc474919318&quot; /&gt;&lt;a name=&quot;_Toc415565845&quot; /&gt;&lt;a name=&quot;_Toc415499824&quot; /&gt;&lt;a name=&quot;_Toc415498659&quot; /&gt;&lt;a name=&quot;_Toc415498535&quot; /&gt;&lt;a name=&quot;_Toc415498306&quot; /&gt;&lt;a name=&quot;_Toc413337834&quot; /&gt;&lt;a name=&quot;_Toc412626166&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.17&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Deferred acquisition costs&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These comprise deferred acquisition costs including commissions and brokers&amp;#39; fees related to the sale of insurance policies. Deferred commissions are recognized in the consolidated statement of income over the life of the respective policies and pension plan contracts or over an average period of twelve months. Expenses relating to insurance agency operations relating to the sale of health plans are amortized over a twenty-four month period and life assurance expenses are appropriated in the twelve-month period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923268&quot; /&gt;&lt;a name=&quot;_Toc474919319&quot; /&gt;&lt;a name=&quot;_Toc415565846&quot; /&gt;&lt;a name=&quot;_Toc415499825&quot; /&gt;&lt;a name=&quot;_Toc415498660&quot; /&gt;&lt;a name=&quot;_Toc415498536&quot; /&gt;&lt;a name=&quot;_Toc415498307&quot; /&gt;&lt;a name=&quot;_Toc413337835&quot; /&gt;&lt;a name=&quot;_Toc412626167&quot; /&gt;&lt;a name=&quot;_Toc381783347&quot; /&gt;&lt;a name=&quot;_Toc379874067&quot; /&gt;&lt;a name=&quot;_Toc355707597&quot; /&gt;&lt;a name=&quot;_Toc351013978&quot; /&gt;&lt;a name=&quot;_Toc320264325&quot; /&gt;&lt;a name=&quot;_Toc318995678&quot; /&gt;&lt;a name=&quot;_Toc318995476&quot; /&gt;&lt;a name=&quot;_Toc316896258&quot; /&gt;&lt;a name=&quot;_Toc312767233&quot; /&gt;&lt;a name=&quot;_Toc289782414&quot; /&gt;&lt;a name=&quot;_Toc285698328&quot; /&gt;&lt;a name=&quot;_Toc285642809&quot; /&gt;&lt;a name=&quot;_Toc285538675&quot; /&gt;&lt;a name=&quot;_Toc285477036&quot; /&gt;&lt;a name=&quot;_Toc285472575&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.18&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Financial guarantees&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial guarantees are contracts that require the Organization to make specific payments under the guarantee for a loss incurred when a specific debtor fails to make a payment when due in accordance with the terms of the debt instrument.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial guarantees are initially recognized in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Organization&amp;#39;s obligations under such guarantees are measured as the higher of the initial amount, less the accumulated amortization, and the best estimate of the amount required to settle the guarantee if management deems such expenditure to be probable. These estimates are determined based on experience of similar transactions and history of past losses, supplemented by the judgment of Management. The fee income earned is recognized on a straight-line basis over the life of the guarantee. Any increase in the liability relating to guarantees is reported in the consolidated statement of income within &amp;#8220;Other operating income/ (expenses)&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923269&quot; /&gt;&lt;a name=&quot;_Toc474919320&quot; /&gt;&lt;a name=&quot;_Toc415565847&quot; /&gt;&lt;a name=&quot;_Toc415499826&quot; /&gt;&lt;a name=&quot;_Toc415498661&quot; /&gt;&lt;a name=&quot;_Toc415498537&quot; /&gt;&lt;a name=&quot;_Toc415498308&quot; /&gt;&lt;a name=&quot;_Toc413337836&quot; /&gt;&lt;a name=&quot;_Toc412626168&quot; /&gt;&lt;a name=&quot;_Toc381783348&quot; /&gt;&lt;a name=&quot;_Toc379874068&quot; /&gt;&lt;a name=&quot;_Toc355707598&quot; /&gt;&lt;a name=&quot;_Toc351013979&quot; /&gt;&lt;a name=&quot;_Toc320264326&quot; /&gt;&lt;a name=&quot;_Toc318995679&quot; /&gt;&lt;a name=&quot;_Toc318995477&quot; /&gt;&lt;a name=&quot;_Toc316896259&quot; /&gt;&lt;a name=&quot;_Toc312767234&quot; /&gt;&lt;a name=&quot;_Toc289782415&quot; /&gt;&lt;a name=&quot;_Toc285698329&quot; /&gt;&lt;a name=&quot;_Toc285642810&quot; /&gt;&lt;a name=&quot;_Toc285538676&quot; /&gt;&lt;a name=&quot;_Toc285477037&quot; /&gt;&lt;a name=&quot;_Toc285472576&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.19&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Employee benefits&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;IAS 19 establishes that the employer must recognize prospectively the surplus or deficit of its defined benefit plans and post-retirement plans as an asset or an obligation in its consolidated statement of financial position, and must recognize the changes in the financial condition during the year in which the changes occurred, in profit or loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Defined contribution plan&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Bradesco and its subsidiaries sponsor pension plans for their employees and Management of the &amp;#8220;Free Benefit Generator Plan (PGBL)&amp;#8221; type. The PGBL is a pension plan with defined contributions which allows financial resources to be accumulated throughout the professional career of the participants based on contributions paid by them and the sponsoring company, the funds of which are invested in an Exclusive Mutual Fund (FIE). The actuarial obligations of PGBL are fully covered by the corresponding FIE. The PGBL is managed by the subsidiaries Bradesco Vida e Previd&amp;#234;ncia S.A.. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contribution obligations for defined contribution pension plans are recognized as expenses in profit or loss as incurred. Once the contributions are paid, Bradesco, in the capacity of employer, has no obligation to make any additional payment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition to the PGBL previously presented, the participants transferred from the defined benefit plan are assured a deferred proportional benefit until the date of migration. For participants in the defined benefit plan, whether or not transferred to the PGBL, retired participants and pensioners, the present value of the actuarial liabilities of the plan is fully covered by guarantee assets applied in the FIEs.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Defined benefit plans&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s net obligation, in relation to the defined benefit plans, refers exclusively to institutions acquired are calculated separately for each plan, estimating the future benefit that the employees have earned in return for their service during the current and prior periods. The benefit is discounted to determine its present value and deducted by the fair value of any plan assets. The discount rate is the yield at the reporting date on &amp;#8220;AA&amp;#8221; credit rated bonds, which have maturity dates approximating the terms of the Organization&amp;#39;s obligations. The calculation is made by an actuary, using the projected unit credit method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Termination benefits&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Severance benefits are required to be paid when the employment relationship is terminated by the Organization before the employee&amp;#39;s normal date of retirement or whenever the employee accepts voluntary redundancy in return for such benefits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Benefits which are payable twelve months or more after the reporting date are discounted to their present value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Short-term benefits&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Benefits such as wages, salaries, social security contributions, paid annual leave and paid sick leave, profit sharing and bonuses (if payable within twelve months of the reporting date) and non-monetary benefits such as health care, etc. are recorded as expenses in the consolidated statement of income, without any discount to present value, if the Organization has a present legal or constructive obligation to pay the amount as a result of past service provided&amp;#160; by the employee and the obligation can be reliably estimated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc285698330&quot; /&gt;&lt;a name=&quot;_Toc285642811&quot; /&gt;&lt;a name=&quot;_Toc285538677&quot; /&gt;&lt;a name=&quot;_Toc285477038&quot; /&gt;&lt;a name=&quot;_Toc285472577&quot; /&gt;&lt;a name=&quot;_Toc474923270&quot; /&gt;&lt;a name=&quot;_Toc474919321&quot; /&gt;&lt;a name=&quot;_Toc415565848&quot; /&gt;&lt;a name=&quot;_Toc415499827&quot; /&gt;&lt;a name=&quot;_Toc415498662&quot; /&gt;&lt;a name=&quot;_Toc415498538&quot; /&gt;&lt;a name=&quot;_Toc415498309&quot; /&gt;&lt;a name=&quot;_Toc413337837&quot; /&gt;&lt;a name=&quot;_Toc412626169&quot; /&gt;&lt;a name=&quot;_Toc381783349&quot; /&gt;&lt;a name=&quot;_Toc379874069&quot; /&gt;&lt;a name=&quot;_Toc355707599&quot; /&gt;&lt;a name=&quot;_Toc351013980&quot; /&gt;&lt;a name=&quot;_Toc320264327&quot; /&gt;&lt;a name=&quot;_Toc318995680&quot; /&gt;&lt;a name=&quot;_Toc318995478&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.20&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The liability for capitalization bonds is registered in the line &amp;#8216;Other liabilities&amp;#39;. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities and revenues from capitalization bonds are accrued at the time bonds are issued. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Bonds are issued according to the types of payments, monthly or single payment. Each bond bears a nominal value and the deposit portion of each payment is remunerated at the referential rate (TR) plus 0.5% per month, which is used to determine the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capitalization bond beneficiaries are eligible for a prize draw. At the end of a certain period that is determined at the time the capitalization bond is issued, a beneficiary may redeem the nominal value paid plus the referential rate (TR) +0.5% of interest, even&amp;#160; if they have not won in the draw.&amp;#160; These products are regulated by the insurance regulator in Brazil; however, they do not meet the definition of an insurance contract in accordance with IFRS 4 and, therefore, are classified as financial liabilities in accordance with IAS 39.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Unclaimed amounts from &amp;#8220;capitalization plans&amp;#8221; are derecognized when the obligation legally expires, in accordance with IAS 39 as it relates to the derecognition of a financial liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expenses for placement of &amp;#8220;capitalization plans&amp;#8221;, are recognized as they are incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923271&quot; /&gt;&lt;a name=&quot;_Toc474919322&quot; /&gt;&lt;a name=&quot;_Toc415565849&quot; /&gt;&lt;a name=&quot;_Toc415499828&quot; /&gt;&lt;a name=&quot;_Toc415498663&quot; /&gt;&lt;a name=&quot;_Toc415498539&quot; /&gt;&lt;a name=&quot;_Toc415498310&quot; /&gt;&lt;a name=&quot;_Toc413337838&quot; /&gt;&lt;a name=&quot;_Toc412626170&quot; /&gt;&lt;a name=&quot;_Toc381783350&quot; /&gt;&lt;a name=&quot;_Toc379874070&quot; /&gt;&lt;a name=&quot;_Toc355707600&quot; /&gt;&lt;a name=&quot;_Toc351013981&quot; /&gt;&lt;a name=&quot;_Toc320264328&quot; /&gt;&lt;a name=&quot;_Toc318995681&quot; /&gt;&lt;a name=&quot;_Toc318995479&quot; /&gt;&lt;a name=&quot;_Toc316896261&quot; /&gt;&lt;a name=&quot;_Toc312767236&quot; /&gt;&lt;a name=&quot;_Toc289782417&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.21&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Interest&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest income and expenses are recognized on an accrual basis in the consolidated statement of income using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash payments and receipts throughout the expected life of the financial asset or liability (or, when appropriate, a shorter period) to the carrying amount of the financial asset or liability. When calculating the effective rate, the Organization estimates future cash flows considering all contractual terms of the financial instrument, but not future credit losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of the effective interest rate includes all commissions, transaction costs, discounts or bonuses which are an integral part of such rate. Transaction costs are incremental costs directly attributable to the acquisition, issuance or disposal of a financial asset or liability.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923272&quot; /&gt;&lt;a name=&quot;_Toc474919323&quot; /&gt;&lt;a name=&quot;_Toc415565850&quot; /&gt;&lt;a name=&quot;_Toc415499829&quot; /&gt;&lt;a name=&quot;_Toc415498664&quot; /&gt;&lt;a name=&quot;_Toc415498540&quot; /&gt;&lt;a name=&quot;_Toc415498311&quot; /&gt;&lt;a name=&quot;_Toc413337839&quot; /&gt;&lt;a name=&quot;_Toc412626171&quot; /&gt;&lt;a name=&quot;_Toc381783351&quot; /&gt;&lt;a name=&quot;_Toc379874071&quot; /&gt;&lt;a name=&quot;_Toc355707601&quot; /&gt;&lt;a name=&quot;_Toc351013982&quot; /&gt;&lt;a name=&quot;_Toc320264329&quot; /&gt;&lt;a name=&quot;_Toc318995682&quot; /&gt;&lt;a name=&quot;_Toc318995480&quot; /&gt;&lt;a name=&quot;_Toc316896263&quot; /&gt;&lt;a name=&quot;_Toc312767237&quot; /&gt;&lt;a name=&quot;_Toc289782418&quot; /&gt;&lt;a name=&quot;_Toc285698331&quot; /&gt;&lt;a name=&quot;_Toc285642812&quot; /&gt;&lt;a name=&quot;_Toc285538678&quot; /&gt;&lt;a name=&quot;_Toc285477039&quot; /&gt;&lt;a name=&quot;_Toc285472578&quot; /&gt;&lt;a name=&quot;_Toc316896262&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.22&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Fees and commissions&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fees and commission income and expense which are part of and are directly allocable to the effective interest rate on a financial asset or liability are included in the calculation of the effective interest rate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other fee and commission income, including account service fees, asset management fees, credit card annual charges, and collection and consortium fees are recognized as the related services are rendered. When a loan commitment is not expected to result in the drawdown of a loan, the related commitment fees are recognized on a straight-line basis over the commitment period. Other fees and commissions expense relate mainly to transaction as the services are received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923273&quot; /&gt;&lt;a name=&quot;_Toc474919324&quot; /&gt;&lt;a name=&quot;_Toc415565851&quot; /&gt;&lt;a name=&quot;_Toc415499830&quot; /&gt;&lt;a name=&quot;_Toc415498665&quot; /&gt;&lt;a name=&quot;_Toc415498541&quot; /&gt;&lt;a name=&quot;_Toc415498312&quot; /&gt;&lt;a name=&quot;_Toc413337840&quot; /&gt;&lt;a name=&quot;_Toc412626172&quot; /&gt;&lt;a name=&quot;_Toc381783352&quot; /&gt;&lt;a name=&quot;_Toc379874072&quot; /&gt;&lt;a name=&quot;_Toc355707602&quot; /&gt;&lt;a name=&quot;_Toc351013983&quot; /&gt;&lt;a name=&quot;_Toc320264330&quot; /&gt;&lt;a name=&quot;_Toc318995683&quot; /&gt;&lt;a name=&quot;_Toc318995481&quot; /&gt;&lt;a name=&quot;_Toc316896264&quot; /&gt;&lt;a name=&quot;_Toc312767238&quot; /&gt;&lt;a name=&quot;_Toc289782419&quot; /&gt;&lt;a name=&quot;_Toc285698332&quot; /&gt;&lt;a name=&quot;_Toc285642813&quot; /&gt;&lt;a name=&quot;_Toc285538679&quot; /&gt;&lt;a name=&quot;_Toc285477040&quot; /&gt;&lt;a name=&quot;_Toc285472579&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.23&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Net insurance income&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance and coinsurance premiums, net of premiums transferred through coinsurance and reinsurance and related commissions, are recognized as income upon issuance of the respective policies / certificates / endorsements and invoices, or at the beginning of the risk period for cases in which the cover begins before issue date, and accounted for on a straight-line basis, over the duration of the policies, through the upfront recognition and subsequent reversal of the provision for unearned premiums and the deferred acquisition costs.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income from premiums and the acquisition costs related to risks already assumed whose respective policies have not yet been issued are recognized in the consolidated statement of income at the start of the risk coverage period on an estimated basis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The health insurance premiums are recorded in the premium account (result) or unearned premium or contribution reserve (PPCNG), according to the coverage period of the contracts in effect at the balance sheet date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenues and expenses related to DPVAT insurance operations are recorded on the basis of information received from the Seguradora L&amp;#237;der dos Cons&amp;#243;rcios do Seguro DPVAT S.A.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Accepted co-insurance contracts and retrocession operations are recorded on the basis of information received from the lead co-insurer and IRB - Brasil Resseguros S.A., respectively.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reinsurance operations are recorded based on the provision of accounts, which are subject to review by reinsurers. The deferral of reinsurance premiums granted under proportional contracts is carried out in a manner consistent with the related insurance premium, while the deferral of premiums for non-proportional reinsurance contracts is carried out according to the period of validity of the respective reinsurance contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The receipts from insurance agency operations are deferred and recognized in income linearly, for a period of twenty-four months in health insurance operations and by the term of twelve months in the other operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contributions to pension plans and life insurance premiums with survivor coverage are recognized in income upon their effective receipt.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923274&quot; /&gt;&lt;a name=&quot;_Toc474919325&quot; /&gt;&lt;a name=&quot;_Toc415565852&quot; /&gt;&lt;a name=&quot;_Toc415499831&quot; /&gt;&lt;a name=&quot;_Toc415498666&quot; /&gt;&lt;a name=&quot;_Toc415498542&quot; /&gt;&lt;a name=&quot;_Toc415498313&quot; /&gt;&lt;a name=&quot;_Toc413337841&quot; /&gt;&lt;a name=&quot;_Toc412626173&quot; /&gt;&lt;a name=&quot;_Toc381783353&quot; /&gt;&lt;a name=&quot;_Toc379874073&quot; /&gt;&lt;a name=&quot;_Toc355707603&quot; /&gt;&lt;a name=&quot;_Toc351013984&quot; /&gt;&lt;a name=&quot;_Toc320264331&quot; /&gt;&lt;a name=&quot;_Toc318995684&quot; /&gt;&lt;a name=&quot;_Toc318995482&quot; /&gt;&lt;a name=&quot;_Toc316896265&quot; /&gt;&lt;a name=&quot;_Toc312767239&quot; /&gt;&lt;a name=&quot;_Toc289782420&quot; /&gt;&lt;a name=&quot;_Toc285698333&quot; /&gt;&lt;a name=&quot;_Toc285642814&quot; /&gt;&lt;a name=&quot;_Toc285538680&quot; /&gt;&lt;a name=&quot;_Toc285477041&quot; /&gt;&lt;a name=&quot;_Toc285472580&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.24&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax and social contribution deferred tax assets, calculated on income tax losses, social contribution losses and temporary differences, are recorded in &amp;#8220;Other Receivables - Sundry&amp;#8221; and the deferred tax liabilities on tax differences in lease depreciation (applicable only for income tax),&lt;br /&gt; mark-to-market adjustments on securities, restatement of judicial deposits, among others, are recorded in &amp;#8220;Other Liabilities - Tax and Social Security&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax assets on temporary differences are realized when the difference between the accounting treatment and the income tax treatment reverses. Deferred tax assets on income tax and social contribution losses are realizable when taxable income is generated, up to the 30% limit of the taxable profit for the period. Deferred tax assets are recorded based on current expectations of realization considering technical studies and analyses carried out by Management.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The provision for income tax is calculated at 15% of taxable income plus a 10% surcharge. For financial companies, financial company equivalent and of the insurance industry, the social contribution on the profit was calculated until August 2015, considering the rate of 15%. For the period between September 2015 and December 2018, the rate was changed to 20%, according to Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 13,169/15, returning to the rate of 15% as from January 2019. For the other companies, the social contribution is calculated considering the rate of 9%.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;By virtue of the amendment of the rate, the Organization Bradesco constituted, in September 2015, a supplement to the deferred tax asset of social contribution, considering the annual expectations of realization and the respective rates in force in each period, according to the technical study conducted.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Tax expense comprises current and deferred tax. Current and deferred tax are recorded in the consolidated statement of income except when the result of a transaction is recognized directly in equity, in which case the related tax effect is also recorded in equity or in other comprehensive income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Current tax assets are amounts of taxes to be recovered through restitution or offset with taxes due from excess of taxes paid in relation to the current and / or previous period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Current tax expenses are the expected amounts payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Current tax payable also includes any tax liability arising from the declaration of dividends. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amount used for taxation purposes. Deferred tax is not recognized for:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-28.35pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-28.35pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;temporary differences related to investments in subsidiaries, associates and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;taxable temporary differences arising on the initial recognition of goodwill. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In determining the amount of current and deferred tax the Organization takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Organization believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of various factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve judgments about future events. New information may become available that causes the Organization to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the tax expense in the period that such a determination is made.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities against current tax assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Additional taxes that arise from the distribution of dividends by the Bank are recognized at the same time as the liability to pay the related dividend is recognized. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc316896266&quot; /&gt;&lt;a name=&quot;_Toc316896267&quot; /&gt;&lt;a name=&quot;_Toc316896268&quot; /&gt;&lt;a name=&quot;_Toc316896269&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.25&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&lt;a name=&quot;_Toc474923275&quot; /&gt;&lt;a name=&quot;_Toc474919326&quot; /&gt;&lt;a name=&quot;_Toc415565853&quot; /&gt;&lt;a name=&quot;_Toc415499832&quot; /&gt;&lt;a name=&quot;_Toc415498667&quot; /&gt;&lt;a name=&quot;_Toc415498543&quot; /&gt;&lt;a name=&quot;_Toc415498314&quot; /&gt;&lt;a name=&quot;_Toc413337842&quot; /&gt;&lt;a name=&quot;_Toc412626174&quot; /&gt;&lt;a name=&quot;_Toc381783354&quot; /&gt;&lt;a name=&quot;_Toc379874074&quot; /&gt;&lt;a name=&quot;_Toc355707604&quot; /&gt;&lt;a name=&quot;_Toc351013985&quot; /&gt;&lt;a name=&quot;_Toc320264332&quot; /&gt;&lt;a name=&quot;_Toc318995685&quot; /&gt;&lt;a name=&quot;_Toc318995483&quot; /&gt;&lt;a name=&quot;_Toc316896270&quot; /&gt;&lt;a name=&quot;_Toc312767240&quot; /&gt;&lt;a name=&quot;_Toc289782421&quot; /&gt;&lt;a name=&quot;_Toc285698334&quot; /&gt;&lt;a name=&quot;_Toc285642815&quot; /&gt;&lt;a name=&quot;_Toc285538681&quot; /&gt;&lt;a name=&quot;_Toc285477042&quot; /&gt;&lt;a name=&quot;_Toc285472581&quot; /&gt;Segment reporting&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Information for operating segments is consistent with the internal reports provided to the Executive Officers (being the Chief Operating Decision Makers), which are comprised by the Chief Executive Officer, Executive Vice-Presidents, Managing Directors and Deputy Directors. The Organization operates mainly in the banking and insurance segments. The banking operations include operations in retail, middle market and corporate activities, lease, international bank operations, investment banking and private banking. The Organization&amp;#39;s banking activities are performed through its own branches located throughout the country, in branches abroad and through subsidiaries, as well as by means of our shareholding interest in other companies. The insurance segment consists of insurance operations, supplementary pension plans and capitalization plans which are undertaken through a subsidiary, Bradesco Seguros S.A., and its subsidiaries.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923276&quot; /&gt;&lt;a name=&quot;_Toc474919327&quot; /&gt;&lt;a name=&quot;_Toc415565854&quot; /&gt;&lt;a name=&quot;_Toc415499833&quot; /&gt;&lt;a name=&quot;_Toc415498668&quot; /&gt;&lt;a name=&quot;_Toc415498544&quot; /&gt;&lt;a name=&quot;_Toc415498315&quot; /&gt;&lt;a name=&quot;_Toc413337843&quot; /&gt;&lt;a name=&quot;_Toc412626175&quot; /&gt;&lt;a name=&quot;_Toc381783355&quot; /&gt;&lt;a name=&quot;_Toc379874075&quot; /&gt;&lt;a name=&quot;_Toc355707605&quot; /&gt;&lt;a name=&quot;_Toc351013986&quot; /&gt;&lt;a name=&quot;_Toc320264333&quot; /&gt;&lt;a name=&quot;_Toc318995686&quot; /&gt;&lt;a name=&quot;_Toc318995484&quot; /&gt;&lt;a name=&quot;_Toc316896271&quot; /&gt;&lt;a name=&quot;_Toc312767241&quot; /&gt;&lt;a name=&quot;_Toc289782422&quot; /&gt;&lt;a name=&quot;_Toc285698335&quot; /&gt;&lt;a name=&quot;_Toc285642816&quot; /&gt;&lt;a name=&quot;_Toc285538682&quot; /&gt;&lt;a name=&quot;_Toc285477043&quot; /&gt;&lt;a name=&quot;_Toc285472582&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.26&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Equity&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Preferred shares have no voting rights, but have priority over common shares in reimbursement of capital, in the event of liquidation, up to the amount of the capital represented by such preferred shares, and the right to receive a minimum dividend per share that is ten percent (10%) higher than the dividend distributed per share to the holders of common shares.&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923277&quot; /&gt;&lt;a name=&quot;_Toc474919328&quot; /&gt;&lt;a name=&quot;_Toc415565855&quot; /&gt;&lt;a name=&quot;_Toc415499834&quot; /&gt;&lt;a name=&quot;_Toc415498669&quot; /&gt;&lt;a name=&quot;_Toc415498545&quot; /&gt;&lt;a name=&quot;_Toc415498316&quot; /&gt;&lt;a name=&quot;_Toc413337844&quot; /&gt;&lt;a name=&quot;_Toc412626176&quot; /&gt;&lt;a name=&quot;_Toc381783356&quot; /&gt;&lt;a name=&quot;_Toc379874076&quot; /&gt;&lt;a name=&quot;_Toc355707606&quot; /&gt;&lt;a name=&quot;_Toc351013987&quot; /&gt;&lt;a name=&quot;_Toc320264334&quot; /&gt;&lt;a name=&quot;_Toc318995687&quot; /&gt;&lt;a name=&quot;_Toc318995485&quot; /&gt;&lt;a name=&quot;_Toc316896272&quot; /&gt;&lt;a name=&quot;_Toc312767242&quot; /&gt;&lt;a name=&quot;_Toc289782423&quot; /&gt;&lt;a name=&quot;_Toc285698336&quot; /&gt;&lt;a name=&quot;_Toc285642817&quot; /&gt;&lt;a name=&quot;_Toc285538683&quot; /&gt;&lt;a name=&quot;_Toc285477044&quot; /&gt;&lt;a name=&quot;_Toc285472583&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Share issue costs&lt;/font&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Incremental costs directly attributable to the issuance of shares are shown net of taxes in equity, thus reducing the initial share value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923278&quot; /&gt;&lt;a name=&quot;_Toc474919329&quot; /&gt;&lt;a name=&quot;_Toc415565856&quot; /&gt;&lt;a name=&quot;_Toc415499835&quot; /&gt;&lt;a name=&quot;_Toc415498670&quot; /&gt;&lt;a name=&quot;_Toc415498546&quot; /&gt;&lt;a name=&quot;_Toc415498317&quot; /&gt;&lt;a name=&quot;_Toc413337845&quot; /&gt;&lt;a name=&quot;_Toc412626177&quot; /&gt;&lt;a name=&quot;_Toc381783357&quot; /&gt;&lt;a name=&quot;_Toc379874077&quot; /&gt;&lt;a name=&quot;_Toc355707607&quot; /&gt;&lt;a name=&quot;_Toc351013988&quot; /&gt;&lt;a name=&quot;_Toc320264335&quot; /&gt;&lt;a name=&quot;_Toc318995688&quot; /&gt;&lt;a name=&quot;_Toc318995486&quot; /&gt;&lt;a name=&quot;_Toc316896273&quot; /&gt;&lt;a name=&quot;_Toc312767243&quot; /&gt;&lt;a name=&quot;_Toc289782424&quot; /&gt;&lt;a name=&quot;_Toc285698337&quot; /&gt;&lt;a name=&quot;_Toc285642818&quot; /&gt;&lt;a name=&quot;_Toc285538684&quot; /&gt;&lt;a name=&quot;_Toc285477045&quot; /&gt;&lt;a name=&quot;_Toc285472584&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Earnings per share&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization presents basic and diluted earnings per share data. Basic earnings per share is calculated by dividing the net income attributable to shareholders of the Organization by the weighted average number of shares outstanding during the year, excluding the average number of shares purchased by the Organization and held as treasury shares. Diluted earnings per share are the same as basic earnings per share, as there are no potentially dilutive instruments.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923279&quot; /&gt;&lt;a name=&quot;_Toc474919330&quot; /&gt;&lt;a name=&quot;_Toc415565857&quot; /&gt;&lt;a name=&quot;_Toc415499836&quot; /&gt;&lt;a name=&quot;_Toc415498671&quot; /&gt;&lt;a name=&quot;_Toc415498547&quot; /&gt;&lt;a name=&quot;_Toc415498318&quot; /&gt;&lt;a name=&quot;_Toc413337846&quot; /&gt;&lt;a name=&quot;_Toc412626178&quot; /&gt;&lt;a name=&quot;_Toc381783358&quot; /&gt;&lt;a name=&quot;_Toc379874078&quot; /&gt;&lt;a name=&quot;_Toc355707608&quot; /&gt;&lt;a name=&quot;_Toc351013989&quot; /&gt;&lt;a name=&quot;_Toc320264336&quot; /&gt;&lt;a name=&quot;_Toc318995689&quot; /&gt;&lt;a name=&quot;_Toc318995487&quot; /&gt;&lt;a name=&quot;_Toc316896275&quot; /&gt;&lt;a name=&quot;_Toc312767244&quot; /&gt;&lt;a name=&quot;_Toc289782425&quot; /&gt;&lt;a name=&quot;_Toc285698338&quot; /&gt;&lt;a name=&quot;_Toc285642819&quot; /&gt;&lt;a name=&quot;_Toc285538685&quot; /&gt;&lt;a name=&quot;_Toc285477046&quot; /&gt;&lt;a name=&quot;_Toc285472585&quot; /&gt;&lt;a name=&quot;_Toc316896274&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(iii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Dividends payable&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:28.4pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Dividends on shares are paid and provisioned during the year. In the Meeting of Shareholders are destined at &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt;least the equivalent of 30% of the annual net income, in accordance with the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the Company&amp;#39;s Bylaws&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Dividends approved and declared after the reporting date of the financial statements, are disclosed in the notes as subsequent events.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923280&quot; /&gt;&lt;a name=&quot;_Toc474919331&quot; /&gt;&lt;a name=&quot;_Toc415565858&quot; /&gt;&lt;a name=&quot;_Toc415499837&quot; /&gt;&lt;a name=&quot;_Toc415498672&quot; /&gt;&lt;a name=&quot;_Toc415498548&quot; /&gt;&lt;a name=&quot;_Toc415498319&quot; /&gt;&lt;a name=&quot;_Toc413337847&quot; /&gt;&lt;a name=&quot;_Toc412626179&quot; /&gt;&lt;a name=&quot;_Toc381783359&quot; /&gt;&lt;a name=&quot;_Toc379874079&quot; /&gt;&lt;a name=&quot;_Toc355707609&quot; /&gt;&lt;a name=&quot;_Toc351013990&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(iv)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Capital transactions&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital transactions are transactions between partners qualified as investment owners. These transactions modify the equity held by the controlling shareholder in a subsidiary. Since there is no loss of control, the difference between the amount paid and the fair value of the transaction is recognized directly in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923313&quot; /&gt;&lt;a name=&quot;_Toc318995520&quot; /&gt;&lt;a name=&quot;_Toc284885082&quot; /&gt;&lt;a name=&quot;_Toc176337463&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;4.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Estimates and judgments&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization makes estimates and judgments that can affect the reported amount of assets and liabilities within the next financial year including the assets and liabilities arising from the acquisition of HSBC Brasil. All estimates and judgments required in conformity with IFRS are best estimates undertaken in accordance with the applicable standard. Such estimates and judgments are continually evaluated and based in our historical experience and a number of other factors including future event expectations, regarded as reasonable, under the current circumstances. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The estimates and judgments that have a significant risk and might have a relevant impact on the amounts of assets and liabilities within the next financial year are disclosed below. The actual results may be different from those established by these estimates and premises.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair value of financial instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial instruments recognized at fair value in our consolidated financial statements consist primarily of financial assets held for trading, including derivatives and financial assets classified as available for sale. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participant at the management date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These financial instruments are categorized within a hierarchy based on the lowest level of input that is significant to the fair value measurement. For instruments classified as level 3, we have to apply a significant amount of our own judgment in arriving at the fair value measurement. We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes. Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. For a detailed discussion of the determination of fair value of financial instruments, see Note 3.4.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:46.75pt;text-indent:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Periodically, the existence of a reduction in the recoverable value of available-for-sale financial assets is evaluated (see Note 2(f)(viii)(b)). This determination of what is significant or prolonged requires judgment. In making this judgment, the Organization evaluates, among other factors, the volatility in share price, where such variations involve equity securities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In addition, valuations are obtained through market prices or valuation models that require the use of certain assumptions or judgments to estimate fair value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Allowance for impairment on loans and advances&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Periodically, the Organization reviews its portfolio of loans and advances evaluating the estimated loss for the impairment of its operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The determination of the amount of the allowance for impairment, by its nature, requires judgments and uses assumptions regarding the loan portfolio, both on a portfolio basis and on an individual basis. When we review our loan portfolio as a whole, several factors can affect our estimate of the likely range of losses, including which methodology we use in measuring historical delinquency rates and what historical period we consider in making those measurements. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Additional factors that can affect our determination of the allowance for impairment include:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;General economic conditions and conditions in the relevant industry;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Past experience with the relevant debtor or industry, including recent loss experience;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit quality trends;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Amounts of loan collateral;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The volume, composition and growth of our loan portfolio;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Brazilian government&amp;#39;s monetary policy; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Any delays in the receipt of information needed to evaluate loans or to confirm existing credit deterioration.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses models to assist analysis of the loan portfolio and in determining what impairment should be made. It applies statistical loss factors and other risk indicators to loan pools with similar risk characteristics to arrive at an estimate of incurred losses in the portfolio. Although the models are frequently revised and improved, they are by nature dependent on judgment in relation to &amp;#160;the information and estimates. In addition, the volatility of the Brazilian economy is one of the factors that may lead to greater uncertainty in our models than would be expected in more stable macroeconomic environments. Accordingly, our allowance for impairment may not be indicative of future charge-offs. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For a sensitivity analysis, we assess the impact of an increase in the probability of default (PD) on the allowance. In this assessment an increase in 10% of the PD on December 31, 2017, would have increased the allowance for impairment by R$ 503,667 thousand. This sensitivity analysis is hypothetical, and is only meant to illustrate the impact that the expectation of defaults have on determining the allowance for loan losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The process to determine the level of provision for losses from impairment requires estimates and the use of judgment; it is possible that actual losses presented in subsequent periods will differ from those calculated according to current estimates and assumptions.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of goodwill&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has to consider at least annually whether the current carrying value of goodwill is impaired. The first step of the process requires the identification of independent Cash-Generating Units and the allocation of goodwill to these units. The carrying amount of the CGU, including the allocated goodwill, is compared to its recoverable amount to determine whether any impairment exists. If the value in use of a cash-generating unit is less than its carrying value, goodwill will be impaired. Detailed calculations may need to be carried out taking into consideration changes in the market in which a business operates (e.g. competitive activity, regulatory change). The value in use is based upon discounting expected pre-tax cash flows at a risk-adjusted interest rate appropriate to the operating unit, the determination of both requires one to exercise one&amp;#39;s judgment. While forecasts are compared with actual performance and external economic data, expected cash flows naturally reflect the Organization&amp;#39;s view of future performance.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The determination of the amount of our income tax liability is complex, and our assessment is related to our analysis of our deferred tax assets and liabilities and income tax payable. In general, our evaluation requires that we estimate future amounts of current and deferred taxes. Our assessment of the possibility that deferred tax assets are realized is subjective and involves assessments and assumptions that are inherently uncertain in nature. The realization of deferred tax assets is subject to changes in future tax rates and developments in our strategies. The underlying support for our assessments and assumptions could change over time as a result of unforeseen events or circumstances, affecting our determination of the amount of our tax liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Significant judgment is required in determining whether it is more likely than not that an income tax position will be sustained upon examination, even after the outcome of any related administrative or judicial proceedings based on technical merits. Further judgment is then required to determine the amount of benefit eligible for recognition in our consolidated financial statements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition, we have monitored the interpretation of tax laws by, and decisions of, the tax authorities and Courts so that we can adjust any prior judgment of accrued income taxes. These adjustments may also result from our own income tax planning or resolution of income tax controversies, and may be material to our operating results for any given period. For additional information about income tax, see Note 17.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Technical insurance provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance technical provisions (reserves) are liabilities representing estimates of the amounts that will become due at a future date, to or on behalf of our policyholders - see Note 2(o). Expectations of loss ratio, mortality, longevity, length of stay and interest rate are used. These assumptions are based on our experience and are periodically reviewed against industry standards to ensure actuarial credibility. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provisions are regularly reviewed and constituted, where the loss is deemed probable, based on the opinion of the legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing. Contingencies classified as Probable Loss are recorded in the Consolidated Statements of Financial Position under &quot;Other Provisions&quot;. &lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory>
  <ifrs-full:DisclosureOfOperatingSegmentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923314&quot; /&gt;&lt;a name=&quot;_Toc318995521&quot; /&gt;&lt;a name=&quot;_Toc284885083&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;5.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Operating segments&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization operates mainly in the banking and insurance segments. Our banking operations include operations in the retail, middle-market and corporate sectors, lease, international bank operations, investment bank operations and as a private bank. The Organization also conducts banking segment operations through its branches located throughout the country, in branches abroad and through subsidiaries as well as by means of shareholding interests in other companies. Additionally we are engaged in insurance, supplemental pension plans and capitalization bonds through our subsidiary, Bradesco Seguros S.A. and its subsidiaries.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The following segment information was prepared based on reports made available to Management to evaluate performance and make decisions regarding the allocation of resources for investments and other purposes. Our Management uses a variety of accounting information, which includes the proportional consolidation of affiliates and joint ventures. Accordingly, the information of the segments shown in the following tables was prepared in accordance with the specific procedures and other provisions of the Financial Institutions Accounting Plan and the total amounts, which correspond to the consolidated information, were prepared in accordance with IFRS, issued by the IASB .&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main assumptions for the segmentation of income and expenses include (i) surplus cash invested by the entities operating in insurance, supplemental pension and capitalization bonds are included in this segment, resulting in an increase in net interest income; (ii) salaries and benefits and administrative costs included in the insurance, supplemental pension and capitalization bonds segment consist only of cost directly related to these operations, and (iii) costs incurred in the banking operations segment related to the infrastructure of the branch network and other general indirect expenses have not been allocated between segments.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;a name=&quot;_Toc284885145&quot; /&gt;&lt;a name=&quot;_Toc284327648&quot; /&gt;&lt;a name=&quot;_Toc285697941&quot; /&gt;&lt;a name=&quot;_Toc289424823&quot; /&gt;&lt;a name=&quot;_Toc289782972&quot; /&gt;&lt;a name=&quot;_Toc284327649&quot; /&gt;&lt;a name=&quot;_Toc285697942&quot; /&gt;&lt;a name=&quot;_Toc289424824&quot; /&gt;&lt;a name=&quot;_Toc289782973&quot; /&gt;&lt;a name=&quot;_Toc284327650&quot; /&gt;&lt;a name=&quot;_Toc285697943&quot; /&gt;&lt;a name=&quot;_Toc289424825&quot; /&gt;&lt;a name=&quot;_Toc289782974&quot; /&gt;&lt;a name=&quot;_Toc284327651&quot; /&gt;&lt;a name=&quot;_Toc285697944&quot; /&gt;&lt;a name=&quot;_Toc289424826&quot; /&gt;&lt;a name=&quot;_Toc289782975&quot; /&gt;&lt;a name=&quot;_Toc284327652&quot; /&gt;&lt;a name=&quot;_Toc285697945&quot; /&gt;&lt;a name=&quot;_Toc289424827&quot; /&gt;&lt;a name=&quot;_Toc289782976&quot; /&gt;&lt;a name=&quot;_Toc284327653&quot; /&gt;&lt;a name=&quot;_Toc285697946&quot; /&gt;&lt;a name=&quot;_Toc289424828&quot; /&gt;&lt;a name=&quot;_Toc289782977&quot; /&gt;&lt;a name=&quot;_Toc284327654&quot; /&gt;&lt;a name=&quot;_Toc285697947&quot; /&gt;&lt;a name=&quot;_Toc289424829&quot; /&gt;&lt;a name=&quot;_Toc289782978&quot; /&gt;&lt;a name=&quot;_Toc284327655&quot; /&gt;&lt;a name=&quot;_Toc285697948&quot; /&gt;&lt;a name=&quot;_Toc289424830&quot; /&gt;&lt;a name=&quot;_Toc289782979&quot; /&gt;&lt;a name=&quot;_Toc284327656&quot; /&gt;&lt;a name=&quot;_Toc285697949&quot; /&gt;&lt;a name=&quot;_Toc289424831&quot; /&gt;&lt;a name=&quot;_Toc289782980&quot; /&gt;&lt;a name=&quot;_Toc284327657&quot; /&gt;&lt;a name=&quot;_Toc285697950&quot; /&gt;&lt;a name=&quot;_Toc289424832&quot; /&gt;&lt;a name=&quot;_Toc289782981&quot; /&gt;&lt;a name=&quot;_Toc284327658&quot; /&gt;&lt;a name=&quot;_Toc285697951&quot; /&gt;&lt;a name=&quot;_Toc289424833&quot; /&gt;&lt;a name=&quot;_Toc289782982&quot; /&gt;&lt;a name=&quot;_Toc284327659&quot; /&gt;&lt;a name=&quot;_Toc285697952&quot; /&gt;&lt;a name=&quot;_Toc289424834&quot; /&gt;&lt;a name=&quot;_Toc289782983&quot; /&gt;&lt;a name=&quot;_Toc284327660&quot; /&gt;&lt;a name=&quot;_Toc285697953&quot; /&gt;&lt;a name=&quot;_Toc289424835&quot; /&gt;&lt;a name=&quot;_Toc289782984&quot; /&gt;&lt;a name=&quot;_Toc284327661&quot; /&gt;&lt;a name=&quot;_Toc285697954&quot; /&gt;&lt;a name=&quot;_Toc289424836&quot; /&gt;&lt;a name=&quot;_Toc289782985&quot; /&gt;&lt;a name=&quot;_Toc284327662&quot; /&gt;&lt;a name=&quot;_Toc285697955&quot; /&gt;&lt;a name=&quot;_Toc289424837&quot; /&gt;&lt;a name=&quot;_Toc289782986&quot; /&gt;&lt;a name=&quot;_Toc284327663&quot; /&gt;&lt;a name=&quot;_Toc285697956&quot; /&gt;&lt;a name=&quot;_Toc289424838&quot; /&gt;&lt;a name=&quot;_Toc289782987&quot; /&gt;&lt;a name=&quot;_Toc284327664&quot; /&gt;&lt;a name=&quot;_Toc285697957&quot; /&gt;&lt;a name=&quot;_Toc289424839&quot; /&gt;&lt;a name=&quot;_Toc289782988&quot; /&gt;&lt;a name=&quot;_Toc284327665&quot; /&gt;&lt;a name=&quot;_Toc285697958&quot; /&gt;&lt;a name=&quot;_Toc289424840&quot; /&gt;&lt;a name=&quot;_Toc289782989&quot; /&gt;&lt;a name=&quot;_Toc284327666&quot; /&gt;&lt;a name=&quot;_Toc285697959&quot; /&gt;&lt;a name=&quot;_Toc289424841&quot; /&gt;&lt;a name=&quot;_Toc289782990&quot; /&gt;&lt;a name=&quot;_Toc284327667&quot; /&gt;&lt;a name=&quot;_Toc285697960&quot; /&gt;&lt;a name=&quot;_Toc289424842&quot; /&gt;&lt;a name=&quot;_Toc289782991&quot; /&gt;&lt;a name=&quot;_Toc284327668&quot; /&gt;&lt;a name=&quot;_Toc285697961&quot; /&gt;&lt;a name=&quot;_Toc289424843&quot; /&gt;&lt;a name=&quot;_Toc289782992&quot; /&gt;&lt;a name=&quot;_Toc284327669&quot; /&gt;&lt;a name=&quot;_Toc285697962&quot; /&gt;&lt;a name=&quot;_Toc289424844&quot; /&gt;&lt;a name=&quot;_Toc289782993&quot; /&gt;&lt;a name=&quot;_Toc284327670&quot; /&gt;&lt;a name=&quot;_Toc285697963&quot; /&gt;&lt;a name=&quot;_Toc289424845&quot; /&gt;&lt;a name=&quot;_Toc289782994&quot; /&gt;&lt;a name=&quot;_Toc284327671&quot; /&gt;&lt;a name=&quot;_Toc285697964&quot; /&gt;&lt;a name=&quot;_Toc289424846&quot; /&gt;&lt;a name=&quot;_Toc289782995&quot; /&gt;&lt;a name=&quot;_Toc284327672&quot; /&gt;&lt;a name=&quot;_Toc285697965&quot; /&gt;&lt;a name=&quot;_Toc289424847&quot; /&gt;&lt;a name=&quot;_Toc289782996&quot; /&gt;&lt;a name=&quot;_Toc284327673&quot; /&gt;&lt;a name=&quot;_Toc285697966&quot; /&gt;&lt;a name=&quot;_Toc289424848&quot; /&gt;&lt;a name=&quot;_Toc289782997&quot; /&gt;&lt;a name=&quot;_Toc284327674&quot; /&gt;&lt;a name=&quot;_Toc285697967&quot; /&gt;&lt;a name=&quot;_Toc289424849&quot; /&gt;&lt;a name=&quot;_Toc289782998&quot; /&gt;&lt;a name=&quot;_Toc284327675&quot; /&gt;&lt;a name=&quot;_Toc285697968&quot; /&gt;&lt;a name=&quot;_Toc289424850&quot; /&gt;&lt;a name=&quot;_Toc289782999&quot; /&gt;&lt;a name=&quot;_Toc284327676&quot; /&gt;&lt;a name=&quot;_Toc285697969&quot; /&gt;&lt;a name=&quot;_Toc289424851&quot; /&gt;&lt;a name=&quot;_Toc289783000&quot; /&gt;&lt;a name=&quot;_Toc284327677&quot; /&gt;&lt;a name=&quot;_Toc285697970&quot; /&gt;&lt;a name=&quot;_Toc289424852&quot; /&gt;&lt;a name=&quot;_Toc289783001&quot; /&gt;&lt;a name=&quot;_Toc284327678&quot; /&gt;&lt;a name=&quot;_Toc285697971&quot; /&gt;&lt;a name=&quot;_Toc289424853&quot; /&gt;&lt;a name=&quot;_Toc289783002&quot; /&gt;&lt;a name=&quot;_Toc284327679&quot; /&gt;&lt;a name=&quot;_Toc285697972&quot; /&gt;&lt;a name=&quot;_Toc289424854&quot; /&gt;&lt;a name=&quot;_Toc289783003&quot; /&gt;&lt;a name=&quot;_Toc284327680&quot; /&gt;&lt;a name=&quot;_Toc285697973&quot; /&gt;&lt;a name=&quot;_Toc289424855&quot; /&gt;&lt;a name=&quot;_Toc289783004&quot; /&gt;&lt;a name=&quot;_Toc284327681&quot; /&gt;&lt;a name=&quot;_Toc285697974&quot; /&gt;&lt;a name=&quot;_Toc289424856&quot; /&gt;&lt;a name=&quot;_Toc289783005&quot; /&gt;&lt;a name=&quot;_Toc284327682&quot; /&gt;&lt;a name=&quot;_Toc285697975&quot; /&gt;&lt;a name=&quot;_Toc289424857&quot; /&gt;&lt;a name=&quot;_Toc289783006&quot; /&gt;&lt;a name=&quot;_Toc284327683&quot; /&gt;&lt;a name=&quot;_Toc285697976&quot; /&gt;&lt;a name=&quot;_Toc289424858&quot; /&gt;&lt;a name=&quot;_Toc289783007&quot; /&gt;&lt;a name=&quot;_Toc284327684&quot; /&gt;&lt;a name=&quot;_Toc285697977&quot; /&gt;&lt;a name=&quot;_Toc289424859&quot; /&gt;&lt;a name=&quot;_Toc289783008&quot; /&gt;&lt;a name=&quot;_Toc284327685&quot; /&gt;&lt;a name=&quot;_Toc285697978&quot; /&gt;&lt;a name=&quot;_Toc289424860&quot; /&gt;&lt;a name=&quot;_Toc289783009&quot; /&gt;&lt;a name=&quot;_Toc284327686&quot; /&gt;&lt;a name=&quot;_Toc285697979&quot; /&gt;&lt;a name=&quot;_Toc289424861&quot; /&gt;&lt;a name=&quot;_Toc289783010&quot; /&gt;&lt;a name=&quot;_Toc284327687&quot; /&gt;&lt;a name=&quot;_Toc285697980&quot; /&gt;&lt;a name=&quot;_Toc289424862&quot; /&gt;&lt;a name=&quot;_Toc289783011&quot; /&gt;&lt;a name=&quot;_Toc284327688&quot; /&gt;&lt;a name=&quot;_Toc285697981&quot; /&gt;&lt;a name=&quot;_Toc289424863&quot; /&gt;&lt;a name=&quot;_Toc289783012&quot; /&gt;&lt;a name=&quot;_Toc284327689&quot; /&gt;&lt;a name=&quot;_Toc285697982&quot; /&gt;&lt;a name=&quot;_Toc289424864&quot; /&gt;&lt;a name=&quot;_Toc289783013&quot; /&gt;&lt;a name=&quot;_Toc284327690&quot; /&gt;&lt;a name=&quot;_Toc285697983&quot; /&gt;&lt;a name=&quot;_Toc289424865&quot; /&gt;&lt;a name=&quot;_Toc289783014&quot; /&gt;&lt;a name=&quot;_Toc284327691&quot; /&gt;&lt;a name=&quot;_Toc285697984&quot; /&gt;&lt;a name=&quot;_Toc289424866&quot; /&gt;&lt;a name=&quot;_Toc289783015&quot; /&gt;&lt;a name=&quot;_Toc284327692&quot; /&gt;&lt;a name=&quot;_Toc285697985&quot; /&gt;&lt;a name=&quot;_Toc289424867&quot; /&gt;&lt;a name=&quot;_Toc289783016&quot; /&gt;&lt;a name=&quot;_Toc284327693&quot; /&gt;&lt;a name=&quot;_Toc285697986&quot; /&gt;&lt;a name=&quot;_Toc289424868&quot; /&gt;&lt;a name=&quot;_Toc289783017&quot; /&gt;&lt;a name=&quot;_Toc284327694&quot; /&gt;&lt;a name=&quot;_Toc285697987&quot; /&gt;&lt;a name=&quot;_Toc289424869&quot; /&gt;&lt;a name=&quot;_Toc289783018&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Information by operating segment, reviewed by the Organization and corresponding to the years 2017, 2016 and 2015, is shown below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_DRE_Segmento_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEE7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEF7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEG7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,997,327&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,857,926&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,787,660&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,642,913&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,143,561&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;787,014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,181,747)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,011,351&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,641,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,623,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(685,560)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;542,493&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;570,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gain / (loss) on held-to-maturity investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(54,520)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(54,520)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,422,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,422,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,694,228&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,595,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,801,893&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,895,929)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,035,094&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,860,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,261,590)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,589,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,402&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,723,265)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,175,352)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,391,439)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,684,330&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,882,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,555,033)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(393,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,380,083&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,568,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,282,411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(889,065)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,133,357)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,170,315)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,263,199)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,265,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,168,486)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,664,801&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,976,782&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,383,565&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,025,148&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,497,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;217,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,162,069&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,193,817&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,387,673&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,743,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,289)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,156,153)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,385,514)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,274,780&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,037,664&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,002,159&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,314,603&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,272,962&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,812,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,003,977&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,089,364&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;225,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,818)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;225,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;988,063,541&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;295,699,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(59,410,052)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,364,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,847,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,039&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;875,887,257&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;257,329,282&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,556,803)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,106,659,736&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,156,109&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,374,229&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,132,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,662,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,696,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;651,482&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,007,216)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,918,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,250,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,402,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,417,647)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;805,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(728,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,400)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,652,044&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,211,453&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(495,607)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,367,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,829,460)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,479,182&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,350,278)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,733,611)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,387,935)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,003,783)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,979,689)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,331,349)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,149,563)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,786,599)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(365,656)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,842&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,658,413)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,421,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;173,359&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,004,162)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(67,750,511)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,841,309)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,425,621&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(66,166,199)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and Share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,754,427&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,395,855&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,055,449&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,205,731&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,538,058&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,024)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,292,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,564,546&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,048,425&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,905,456&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,995,420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,915,822)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,001,488)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,297,065&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,648,724&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,046,937&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,992,726&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,293,766&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,550,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,821&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,894,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,299&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,062&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,884)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;921,916,290&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,642,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,471,169&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,512,372&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,617&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,789&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;821,182,152&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,143,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(775,682)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,086,550,449&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,934,849&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,973,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,727,499&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,636,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,195,003&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,497,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,872,223)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,820,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,199,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(627,343)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(425,315)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,252,055)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(370,947)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(353,679)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(671,810)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,523,095)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,523,095)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,496,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,497,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,093,439)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,515,125&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(371,141)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,949,455)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,479,985)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,758,833&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,721,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,103,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,217,211)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,679&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,058,047)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,076,913)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,137,706)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;492,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,721,970)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,752,946)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(321,462)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,405&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,942,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,726,387)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(963,525)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(298,641)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,988,553)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,139,746)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,639,904)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,347,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(58,431,725)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and Share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,103,333)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,346,805&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,832,060&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,075,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,865&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,139&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(745,286)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,513,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,835,199&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,603,583&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,621,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,192,918)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(793,929)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,875,883&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,320,752&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,041,270&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,237,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,874,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,215,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,042,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,132,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,987&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,262)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;894,579,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;209,789,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(77,666,292)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,026,703,522&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,479,642&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,255,326&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,357&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;804,576,173&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;188,809,573&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,596,986)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;935,788,760&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:46.35pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Our operations are substantially conducted in Brazil. Additionally, as of December 31, 2017, we have a branch in New York, one branch in Grand Cayman, and one branch in London, mainly to complement our banking services and assist in import and export operations for Brazilian customers. Moreover we also have subsidiaries abroad, namely: Banco Bradesco Argentina S.A. (Buenos Aires), Banco Bradesco Europe S.A. (Luxembourg), Bradesco North America LLC (New York), Bradesco Securities, Inc. (New York), Bradesco Securities UK Limited (London), Cidade Capital Markets Ltd. (Grand Cayman), Bradesco Securities Hong Kong Limited (Hong Kong), Bradesco Trade Services Limited (Hong Kong) and Bradescard Mexico, Sociedad de Responsabilidad Limitada (Mexico).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;No income from transactions with a single customer or counterparty abroad represented 10% of the Organization&amp;#39;s income in the period of 2017, 2016 and 2015.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All transactions between operating segments are conducted on an arm&amp;#39;s length basis, with intra-segment revenue and costs being eliminated in &quot;Other operations, adjustments and eliminations&quot;. Income and expenses directly associated with each segment are included in determining business-segment performance.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfOperatingSegmentsExplanatory>
<!-- ELement Id ifrs-full_DisclosureOfInterestIncomeExplanatory -->
  <ifrs-full:DisclosureOfInterestIncomeExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923324&quot; /&gt;&lt;a name=&quot;_Toc284885084&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;6.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Resultado_Liquido_Juros&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Resultado_Liquido_Juros&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,073,435&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,689,348&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,349,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,767,081&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,530,396&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,472,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Leasing transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;254,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;343,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;444,502&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- For trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,684,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,576,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,982,927&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,351,320&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,572,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,629,493&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,883,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,514,933&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,253,616&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,268,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,739,202&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,270,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Compulsory deposits with the Central Bank&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,881,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,667,516&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,587,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial interest income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,553&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,210&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,905&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,232,328&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;147,700,375&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,048,252&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Interbank deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(152,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(127,617)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(74,814)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Funding in the open market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,564,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,767,039)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,509,785)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Borrowings and onlending&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,068,552)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,865,411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,092,184)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Savings accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,730,457)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,712,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,450,258)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Time deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,536,161)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,746,203)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,942,386)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,262,613)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,124,502)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,570,606)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,100,017)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,298,555)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,669,830)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,174,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,395,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,102,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(75,589,415)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(91,037,386)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(71,412,210)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,642,913&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,662,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,636,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfInterestIncomeExplanatory>
  <ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923325&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;7.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,848,855&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,251,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,875,029&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,652,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,030,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,941,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collections&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,965,601&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,777,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,573,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Guarantees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,570,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,438,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,265,356&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,463,469&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,079,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,054,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,526,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,278,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,040,109&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Custody and brokerage services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;754,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;618,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;556,701&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Underwriting&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,219&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;733,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;540,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;409,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;382,427&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;755,558&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;758,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;626,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,087&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,856,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fee and commission expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial system services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,203)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,203)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,820,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory>
  <bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885085&quot; /&gt;&lt;a name=&quot;_Toc474923326&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;8.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ganhos_Perdas_Ativos_Financ&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ganhos_Perdas_Ativos_Financ&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,862,617&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,654,959&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,174,739)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,426,160)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,887,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,267,748)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;860,011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,190,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,623,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,402,770&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,252,055)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTextBlock>
  <bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885086&quot; /&gt;&lt;a name=&quot;_Toc474923327&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;9.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ganhos_Perdas_Dispon_Venda&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ganhos_Perdas_Dispon_Venda&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income securities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,918,595)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(346,032)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity securities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;437,054&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;459,223&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(577,401)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dividends received&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;570,358&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,400)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(671,810)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleTextBlock>
  <bbd:NetGainslossesOnForeignCurrencyTransactionsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885087&quot; /&gt;&lt;a name=&quot;_Toc474923328&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;10.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains/(losses) on foreign currency transactions &lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains and losses on foreign currency transactions primarily consists of gains or losses from currency trading and translation of monetary items from a foreign currency into the functional currency. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:NetGainslossesOnForeignCurrencyTransactionsTextBlock>
  <bbd:NetIncomeFromInsuranceAndPensionPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923329&quot; /&gt;&lt;a name=&quot;_Toc284885089&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;11.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Result_Seguros_Previdencia&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Result_Seguros_Previdencia&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Written premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,864,591&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,470,571&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,920,681&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Supplemental pension plan contributions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,090,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,679,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,795,219&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Granted coinsurance premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49,715)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(70,862)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(88,612)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refunded premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(667,196)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(746,244)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(522,309)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net written premiums earned&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,237,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,333,387&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,104,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reinsurance premiums paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(191,088)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(306,265)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(344,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums retained from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,046,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,027,122&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,760,780&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the provision for insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,435,868)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,729,884)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,528,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the provision for private pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,369,903)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,052,034)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,757,963)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the technical&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; provisions for insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(34,805,771)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,781,918)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,286,039)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reported indemnities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,924,687)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,877,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,658,594)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Claims expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,068)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(119,201)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,599)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of ceded coinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of reinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,913&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;407,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salvage recoveries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;488,057&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;451,930&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;402,718&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the IBNR provision&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(274,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(204,354)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(892,816)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retained claims&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,594,962)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,542,433)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,724,043)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commissions on premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,700,131)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,696,002)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,985,426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of commissions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,334&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,927&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,700&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(403,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(489,279)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,201,216)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage expenses - private pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(153,552)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,654)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(188,037)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in deferred commissions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,728)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224,000)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Selling expenses for insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,405,912)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,547,008)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,253,193)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,497,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:NetIncomeFromInsuranceAndPensionPlansTextBlock>
  <bbd:ImpairmentOfLoansAndAdvancesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;12.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;a name=&quot;_Toc474923330&quot; /&gt;&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,780,383)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,357,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,527,976)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of credits charged-off as losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,034,857&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,507,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,144,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversal of impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,884,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,499,257&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;661,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,860,835)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,350,278)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,721,152)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:ImpairmentOfLoansAndAdvancesTextBlock>
  <ifrs-full:DisclosureOfExpensesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923331&quot; /&gt;&lt;a name=&quot;_Toc284885091&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;13.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Despesas_de_Pessoal&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Despesas_de_Pessoal&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salaries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,170,556)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,236,617)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,369,727)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,385,133)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,625,796)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,994,155)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social security charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,505,290)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,862,067)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,402,112)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employee profit sharing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,572,472)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,451,310)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,304,958)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for labor claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(927,136)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(663,124)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(853,660)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Training&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(162,678)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(164,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(133,435)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,723,265)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,003,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,058,047)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes the effects of the Special Voluntary Termination Plan (Note 43).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfExpensesExplanatory>
  <ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923332&quot; /&gt;&lt;a name=&quot;_Toc284885092&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;14.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outras_Desps_Adiministrativas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outras_Desps_Adiministrativas&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outsourced services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,748,308)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,871,194)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,139,058)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Communication&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,684,153)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,653,055)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,427,685)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,117,085)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,612,454)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,222,433)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Advertising and marketing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(942,851)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,124,659)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(963,308)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset maintenance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,158,840)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,060,856)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(926,001)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial system&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,033,017)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,047,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(830,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rental&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,142,166)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,027,561)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,412)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and surveillance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(818,221)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(736,547)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(606,292)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transport&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(782,444)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(631,085)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Water, electricity and gas&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(405,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(384,069)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(339,267)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Advances to FGC (Deposit Guarantee Association)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(418,670)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(355,540)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(303,094)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Supplies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(263,527)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(321,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(315,135)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Travel&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(261,911)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(174,772)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(157,723)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,105,753)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,059,887)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(973,278)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,882,461)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,149,563)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,721,970)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory>
  <bbd:DepreciationAndAmortizationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923333&quot; /&gt;&lt;a name=&quot;_Toc284885093&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;15.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,331,240)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,516,777)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,884,281)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,237,328)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,141,636)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,057,722)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,568,568)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,658,413)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,942,003)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DepreciationAndAmortizationTextBlock>
<!-- ELement Id ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory -->
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923334&quot; /&gt;&lt;a name=&quot;_Toc284885094&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;16.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Out_Receitas_Desp_Operacionais&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Out_Receitas_Desp_Operacionais&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,960,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,331,651)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,791,754)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Legal provision&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,238,057)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,927,734)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,439,460)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Variation in monetary liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(699,719)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(597,240)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income from sales of non-current assets, investments, and property and equipment, net&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(412,957)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(467,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(277,232)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,553,435)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,578,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,882,867)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,133,357)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,004,162)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,988,553)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-.25in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$&amp;#160;(484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923335&quot; /&gt;&lt;a name=&quot;_Toc284885095&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;17.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;left&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Calculation of income tax and social contribution charges&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;left&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Demons_Calc_Enc_Contrib_Social&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Demons_Calc_Enc_Contrib_Social&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,743,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,905,456&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,603,583&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total burden of income tax and social contribution at the current rates (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,684,602)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,357,455)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,321,612)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect of additions and exclusions in the tax calculation:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Earnings (losses) of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;773,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;764,876&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;687,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest on shareholders&amp;#39; equity (paid and payable)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,241,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,139,102&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,305,695&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net tax credit of deferred liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,341,220&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other amounts (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,459,253)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,621,396&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution for the period&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effective rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-89.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt; 13,169/15; and (iii) of 9% for the other companies (Note 2w);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:106%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;13,169/15; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(3)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition of income tax and social contribution in the consolidated statement of income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Comp_Result_Contrib_Social&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Comp_Result_Contrib_Social&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current taxes:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution payable&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,788,060)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,852,947)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,075,948)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred taxes:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net Addition/(realization) of temporary differences&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,950,961&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,106,008)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,424,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Use of opening balances of:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(430,584)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(647,282)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(127,214)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(331,512)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(879,276)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(65,224)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Addition on:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;234,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;272,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;338,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;731,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Activation of the tax credit - Law No. 13,169/15:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;422,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Temporary additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,051,048&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,359,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,059,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,710,270&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;left&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred income tax and social contribution presented in the consolidated statement of financial position&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Origem_dos_Creditos_Trib&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Origem_dos_Creditos_Trib&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount recorded&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Realized / Decrease (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions of impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,011,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,264,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,771,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,503,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for contingencies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,351,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,782,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,907,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,226,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,488,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,724,016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,268,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,943,875&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,681,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,773,082&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,644,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,809,566&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total tax assets on temporary differences (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,532,826&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,543,626&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,592,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,483,787&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses in Brazil and abroad (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,595,729&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;762,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of available for sale (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;576,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,069,900&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax assets (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,621,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,290,597&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,424,661&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,487,659&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred tax liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,557,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;817,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,007,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net deferred taxes (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,353,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,732,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,606,830&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,480,064&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Origem_dos_Creditos_Trib_Anterior&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc474923337&quot; /&gt;&lt;a name=&quot;_Toc474919388&quot; /&gt;&lt;a name=&quot;IFRS_IR_Origem_dos_Creditos_Trib_Anterio&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount recorded&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Realized / Decrease&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions of impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,617,097&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,938,976&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,948,736&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,493,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,011,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for contingencies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,720,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,209,685&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,498,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,077,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,351,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,090,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,501&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;282,741&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,994,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,488,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,511,581&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;440,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,135,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,406,216&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,681,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total tax assets on temporary differences (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,940,215&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,698,619&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,865,330&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,971,338&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,532,826&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses in Brazil and abroad (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,761,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;787,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;572,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,526,558&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,595,729&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of available for sale (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,704,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;393,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,636,805&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution - MP 2,158-35 (change in tax law)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax assets (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,520,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,518,617&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,831,482&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,248,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,621,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred tax liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,894,367&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,920,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,550,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net deferred taxes (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,625,741&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,515,025&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,911,003&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,697,854&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,353,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;HSBC Brasil (Note 2a);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;d)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Prov_Reali_Cred_Trib&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Prov_Reali_Cred_Trib&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Temporary differences&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,189,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,778,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,794&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,429,576&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,106,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,500,573&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;143,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,058&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,830,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,444,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,163,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,825&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,826,514&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,408,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,609,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;620,279&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,005,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,470,379&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;732,490&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;478,318&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,215,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;After 2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,100,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,176,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;824,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,078,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,179,930&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,784,302&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,699,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,385,863&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,487,659&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;e)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Deferidos_Passivos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Deferidos_Passivos&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Timing differences of depreciation - finance leasing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;381,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,215,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,404&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Judicial deposit and others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,508,775&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,673,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,007,595&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;left&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;a name=&quot;_Toc474923342&quot; /&gt;&lt;a name=&quot;_Toc474919393&quot; /&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The deferred tax liabilities of companies in the financial and insurance sectors were established considering the increased social contribution rate, established by Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;11,727/08 and Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;13,169/15 (Note 2x).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;f)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax and social contribution on adjustments recognized directly in equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_CS_Ajuste_Patrim_Liquido&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_CS_Ajuste_Patrim_Liquido&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;85%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;28%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets recorded as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,418,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,231,202)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,187,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,298,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,587,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,711,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,677,902)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,273,982&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,403,920)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange differences on translations of foreign operations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,992&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,002&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(194,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(107,011)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,485&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,788)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,441,577&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,225,210)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,216,367&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,103,537&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,499,521)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,604,016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,559,417)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,216,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,343,223)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;g)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Taxes to be offset&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;text-indent:32.2pt;&quot;&gt;&lt;a name=&quot;_Toc284885102&quot; /&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Refers basically to amount of income tax and social contribution to be offset.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <ifrs-full:DisclosureOfEarningsPerShareExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923343&quot; /&gt;&lt;a name=&quot;_Toc316896325&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;18.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Earnings per share&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h1 align=&quot;left&quot; style=&quot;margin-bottom:0in;margin-left:283.65pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-247.65pt;&quot;&gt;&lt;a name=&quot;_Toc474923344&quot; /&gt;&lt;a name=&quot;_Toc474919395&quot; /&gt;&lt;a name=&quot;_Toc415565912&quot; /&gt;&lt;a name=&quot;_Toc415499891&quot; /&gt;&lt;a name=&quot;_Toc415498726&quot; /&gt;&lt;a name=&quot;_Toc415498602&quot; /&gt;&lt;a name=&quot;_Toc415498373&quot; /&gt;&lt;a name=&quot;_Toc413337901&quot; /&gt;&lt;a name=&quot;_Toc412626233&quot; /&gt;&lt;a name=&quot;_Toc381783414&quot; /&gt;&lt;a name=&quot;_Toc379874134&quot; /&gt;&lt;a name=&quot;_Toc355707664&quot; /&gt;&lt;a name=&quot;_Toc351014049&quot; /&gt;&lt;a name=&quot;_Toc320264385&quot; /&gt;&lt;a name=&quot;_Toc318995740&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;1.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Basic earnings per share&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of basic earnings per share was calculated based on the weighted average number of common and preferred shares outstanding, as shown in the calculations below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net earnings attributable to the Organization&amp;#39;s common shareholders (R$ thousand)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,157,920&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,542,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,652,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net earnings attributable to the Organization&amp;#39;s&amp;#160; preferred shareholders (R$ thousand)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,931,444&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,352,102&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,480,001&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted average number of common shares outstanding (thousands)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,991&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,991&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,050,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted average number of preferred shares outstanding (thousands)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,037,917&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basic earnings per share attributable to common shareholders of the Organization (in Reais)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.67&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.80&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.84&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basic earnings per share attributable to preferred shareholders of the Organization (in Reais)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.94&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.08&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&amp;#39; Meeting&amp;#160; of March 10, 2017, in the proportion of one new share for every 10 shares held.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h1 align=&quot;left&quot; style=&quot;margin-bottom:0in;margin-left:283.65pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-247.65pt;&quot;&gt;&lt;a name=&quot;_Toc474923345&quot; /&gt;&lt;a name=&quot;_Toc474919396&quot; /&gt;&lt;a name=&quot;_Toc415565913&quot; /&gt;&lt;a name=&quot;_Toc415499892&quot; /&gt;&lt;a name=&quot;_Toc415498727&quot; /&gt;&lt;a name=&quot;_Toc415498603&quot; /&gt;&lt;a name=&quot;_Toc415498374&quot; /&gt;&lt;a name=&quot;_Toc413337902&quot; /&gt;&lt;a name=&quot;_Toc412626234&quot; /&gt;&lt;a name=&quot;_Toc381783415&quot; /&gt;&lt;a name=&quot;_Toc379874135&quot; /&gt;&lt;a name=&quot;_Toc355707665&quot; /&gt;&lt;a name=&quot;_Toc351014050&quot; /&gt;&lt;a name=&quot;_Toc320264386&quot; /&gt;&lt;a name=&quot;_Toc318995741&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;2.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Diluted earnings per share&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Diluted earnings per share are the same as basic earnings per share since there are no potentially dilutive instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfEarningsPerShareExplanatory>
  <ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;19.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash and cash equivalents&lt;a name=&quot;_Toc474923347&quot; /&gt;&lt;a name=&quot;_Toc474919398&quot; /&gt;&lt;a name=&quot;_Toc415565915&quot; /&gt;&lt;a name=&quot;_Toc415499894&quot; /&gt;&lt;a name=&quot;_Toc415498729&quot; /&gt;&lt;a name=&quot;_Toc415498605&quot; /&gt;&lt;a name=&quot;_Toc415498376&quot; /&gt;&lt;a name=&quot;_Toc413337904&quot; /&gt;&lt;a name=&quot;_Toc412626236&quot; /&gt;&lt;a name=&quot;_Toc381783417&quot; /&gt;&lt;a name=&quot;_Toc379874137&quot; /&gt;&lt;a name=&quot;_Toc355707667&quot; /&gt;&lt;a name=&quot;_Toc351014052&quot; /&gt;&lt;a name=&quot;_Toc285698392&quot; /&gt;&lt;a name=&quot;_Toc285642873&quot; /&gt;&lt;a name=&quot;_Toc285538739&quot; /&gt;&lt;a name=&quot;_Toc284885104&quot; /&gt;&lt;a name=&quot;_Toc284697610&quot; /&gt;&lt;a name=&quot;_Toc320264388&quot; /&gt;&lt;a name=&quot;_Toc318995743&quot; /&gt;&lt;a name=&quot;_Toc316896328&quot; /&gt;&lt;a name=&quot;_Toc312767294&quot; /&gt;&lt;a name=&quot;_Toc289782477&quot; /&gt;&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a) Cash and balances with banks&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Caixa_Disp_em_Bancos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Caixa_Disp_em_Bancos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in domestic currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,939,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,432,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,088,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,085,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Compulsory deposits with the Central Bank (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,714,226&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,036,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;a name=&quot;_Toc176337481&quot; /&gt;&lt;a name=&quot;_Toc474923348&quot; /&gt;&lt;a name=&quot;_Toc474919399&quot; /&gt;&lt;a name=&quot;_Toc415565916&quot; /&gt;&lt;a name=&quot;_Toc415499895&quot; /&gt;&lt;a name=&quot;_Toc415498730&quot; /&gt;&lt;a name=&quot;_Toc415498606&quot; /&gt;&lt;a name=&quot;_Toc415498377&quot; /&gt;&lt;a name=&quot;_Toc413337905&quot; /&gt;&lt;a name=&quot;_Toc412626237&quot; /&gt;&lt;a name=&quot;_Toc381783418&quot; /&gt;&lt;a name=&quot;_Toc379874138&quot; /&gt;&lt;a name=&quot;_Toc355707668&quot; /&gt;&lt;a name=&quot;_Toc351014053&quot; /&gt;&lt;a name=&quot;_Toc320264389&quot; /&gt;&lt;a name=&quot;_Toc318995744&quot; /&gt;&lt;a name=&quot;_Toc316896329&quot; /&gt;&lt;a name=&quot;_Toc312767295&quot; /&gt;&lt;a name=&quot;_Toc289782478&quot; /&gt;&lt;a name=&quot;_Toc285698393&quot; /&gt;&lt;a name=&quot;_Toc285642874&quot; /&gt;&lt;a name=&quot;_Toc285538740&quot; /&gt;&lt;a name=&quot;_Toc284885105&quot; /&gt;&lt;a name=&quot;_Toc284697611&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Cash and cash equivalents&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Caixa_Equivalente_de_Caixa&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Caixa_Equivalente_de_Caixa&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in domestic currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,939,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,432,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,088,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,085,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,025,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,712,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156,054,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,230,427&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:.3pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 - R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 - R$ 81,983,717 thousand) as Loans and advances to banks.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:.3pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory>
  <ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923349&quot; /&gt;&lt;a name=&quot;_Toc284885108&quot; /&gt;&lt;a name=&quot;_Toc176337478&quot; /&gt;&lt;a name=&quot;_DV_M1035&quot; /&gt;&lt;a name=&quot;_DV_M1036&quot; /&gt;&lt;a name=&quot;_DV_M1037&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;20.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets and liabilities held for trading&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a) Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;202,249,272&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,103,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,348,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,600,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,339,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,383,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,303,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,617,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,002,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,527,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,589,655&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of five to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,763,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,299,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,409,723&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,537,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity not stated&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,391,854&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,710,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial instruments provided as collateral and classified as &quot;held for trading&amp;#8221;, totaled R$ 801,182&amp;#160;&amp;#160; thousand and R$ 6,282,141 thousand in 2017 and December 2016, respectively, as disclosed in Note 23 &quot;Financial assets pledged as collateral&amp;#8221;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The total assets held for trading pledged as a guarantee of liabilities was R$ 5,874,620 thousand (December 2016 - R$&amp;#160;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;5,846,093&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Unrealized gains/(losses) on securities and trading securities totaled R$ (4,745,888) thousand in 2017 (2016 - R$ (9,404,052) thousand and 2015 - R$ R$ 7,425,562 thousand). Net variation in unrealized gains/(losses) from securities and trading securities totaled R$ (4,658,164) thousand in 2017 (2016 - R$ (1,978,490) thousand and 2015 - R$ (8,303,360) thousand). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Financial liabilities held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc176337480&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;c) Derivative financial instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization enters into transactions involving derivative financial instruments with a number of customers for the purpose of mitigating their overall risk exposure as well as managing risk exposure. The derivative financial instruments most often used are highly-liquid instruments traded on the futures market (B3).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(i)&amp;#160;&amp;#160;&amp;#160; Swap contracts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign currency and interest rate swaps are agreements to exchange one set of cash flows for another and result in an economic exchange of foreign currencies or interest rates (for example fixed or variable) or in combinations (i.e. foreign currency and interest rate swaps). There is no exchange of the principal except in certain foreign currency swaps. The Organization&amp;#39;s foreign currency risk reflects the potential cost of replacing swap contracts and whether the counterparties fail to comply with their obligations. This risk is continually monitored in relation to the current fair value, the proportion of the notional value of the contracts and the market liquidity. The Organization, to control the level of credit risk assumed, evaluates the counterparties of the contracts using the same techniques used in its loan operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;(ii)&amp;#160; Foreign exchange options&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign exchange options are contracts according to which the seller (option issuer) gives to the buyer (option holder) the right, but not the obligation, to buy (call option) or sell (put option) on a certain date or during a certain period, a specific value in foreign currency. The seller receives from the buyer a premium for assuming the exchange or interest-rate risk. The options can be arranged between the Organization and a customer. The Organization is exposed to credit risk only on purchased options and only for the carrying amount, which is the fair market value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(iii)&amp;#160; Foreign currency and interest rate futures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign currency and interest rate futures are contractual obligations for the payment or receipt of a net amount based on changes in foreign exchange and interest rates or the purchase or sale of a financial instrument on a future date at a specific price, established by an organized financial market. The credit risk is minimal, since the future contracts are guaranteed in cash or securities and changes in the value of the contracts are settled on a daily basis. Contracts with a forward rate are interest-rate futures operations traded individually which require settlement of the difference between the contracted rate and the current market rate over the value of the principal to be paid in cash at a future date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(iv)&amp;#160; Forward transactions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A forward operation is a contract of purchase or sale, at a fixed price, for settlement on a certain date. Because it is a futures market, in which the purchase of the share will only be made on the date of maturity, a margin deposit is necessary to guarantee the contract. This margin can be in cash or in securities. The value of the margin varies during the contract according to the variation of the share involved in the operation, to the changes of volatility and liquidity, besides the possible additional margins that the broker could request.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading by the Organization is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc474923350&quot; /&gt;&lt;a name=&quot;_Toc474919401&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Notional amounts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset/(liability)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Futures contracts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Interest rate futures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,081,180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,026,397&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,586&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,837,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,677,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(154,188)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,163)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,376,597&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,399,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,238,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,690,018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;163,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(114)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Options&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Interest rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,663,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,467,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;260,565&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,616,129&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,755,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(535,748)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(193,768)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,335,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,567,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;605,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,274,094&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,836,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(409,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(62,356)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;443,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,013&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;228,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,188)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,533)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Forward operations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,372,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,633,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,599,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,947,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,036,706&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(358,995)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,088,041)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;497,987&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,586,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,588,245&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,138)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,581,169)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Swap contracts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Asset position&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,636,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,297,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,065,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,799,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Currency swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,161,641&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,276,143&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,340,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,645,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Liability position&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,454,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,746,464&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,030,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,718,282)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Currency swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,288,568&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,201,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,618,035)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,766,366)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Swaps are contracts of interest rates, foreign currency and cross currency and interest rates in which payments of interest or the principal or in one or two different currencies are exchanged for a contractual period. The risks of swap contracts refer to the potential inability or unwillingness of the counterparties to comply with the contractual terms and the risk associated with changes in market conditions due to changes in the interest rates and the currency exchange rates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The interest rate and currency futures and the forward contracts of interest rates call for subsequent delivery of an instrument at a specific price or specific profitability. The reference values constitute a nominal value of the respective instrument whose variations in price are settled daily. The credit risk associated with futures contracts is minimized due to these daily settlements. Futures contracts are also subject to risk of changes in interest rates or in the value of the respective instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has the following economic hedging transactions:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair-value hedge of interest-rate risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses interest-rate swaps to protect its exposure to changes in the fair value of its fixed income issuances and certain loans and advances. The interest rate swaps are matched with specific issuances or fixed-income loans.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash-flow hedge of debt securities issued in foreign currency&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses interest-rate swaps in foreign currencies to protect itself against exchange and interest-rate risks arising from the issuance of floating rate debt securities denominated in foreign currencies. The cash flows of foreign-currency interest-rate swaps are compatible with the cash flows of the floating rate debt securities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market risk hedge &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The gains and losses, realized or not, of the financial instruments classified in this category, are recorded in the Statement of Income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Hedge of net foreign investments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses a combination of forward exchange contracts and foreign currency denominated debt to mitigate the exchange-rate risk of its net investments in subsidiaries abroad.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair value of forward contracts used to protect the net investments in foreign subsidiaries is shown in the previous table. Foreign currency denominated debts used to protect net investments of the Organization in subsidiaries abroad act as a natural hedge of the foreign currency risk and are included in funds from securities issuances (Note 33).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other derivatives designated as hedges&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses this category of instruments to manage its exposure to currency, interest rate, equity market and credit risks. Instruments used include interest-rate swaps, interest-rate swaps in foreign currency, forward contracts, futures, options, credit swaps and stock swaps. The fair value of these derivatives are presented in the previous table.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Unobservable gains on initial recognition&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When the valuation depends on unobservable data any initial gain or loss on financial instruments is deferred over the life of the contract or until the instrument is redeemed, transferred, sold or the fair value becomes observable. All derivatives which are part of the hedge relationships are valued on the basis of observable market data.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The nominal values do not reflect the actual risk assumed by the Organization, since the net position of these financial instruments arises from compensation and/or combination thereof. The net position is used by the Organization especially to protect interest rates, the price of the underlying assets or exchange risk. The result of these financial instruments are recognized in &amp;#8220;Net gains and losses of financial assets held for trading&amp;#8221;, in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory>
  <ifrs-full:DisclosureOfAvailableforsaleAssetsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923351&quot; /&gt;&lt;a name=&quot;_Toc284885109&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;21.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Financ_Disp_Venda&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Financ_Disp_Venda&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized gains&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,822,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,881,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(422,079)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,281,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,875,928&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;836,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,734,013)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,978,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,251,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,142&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(236,355)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;719,494&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,693)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,210,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;175&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,182)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,302,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;620,896&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(885,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,182,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,535,331&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,305,245)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,484,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,323,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(609,193)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,198,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,821,686&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,011,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,690,253)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,142,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,626,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;121,745&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(188,913)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;395,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,731)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,966,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;389,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(538,602)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,294,460&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,852,786&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,028,692)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Venda_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Venda_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,635,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,167,067&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,690,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,905,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,579,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,816,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,071,806&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,251,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 5 to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,004,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,363,350&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,677,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,994,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,660,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,028,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,888,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,148,476&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,302,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,966,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,182,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,294,460&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Financial instruments pledged as collateral and classified as available for sale, totaled R$ 59,482,796&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;thousand and R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;64,275,415 &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;thousand in 2017 and 2016, respectively, as disclosed in Note 23 &quot;Financial Assets Pledged as Collateral&quot;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In 2017, the Organization maintained a total of R$ 4,391,259 thousand (2016 - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;5,517,516 &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;thousand) financial assets available for sale pledged as a guarantee for liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;We have applied our policy for impairment testing described in Note 2(f)(viii)(b) and in 2017 there was objective evidence of loss registered in financial assets available for sale in the amount of R$ 1,729,039 thousand in 2017 (2016 - R$&amp;#160;2,106,107 thousand and 2015 - R$ 424,522 thousand), included in Note 9.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfAvailableforsaleAssetsExplanatory>
  <bbd:InvestmentsHeldToMaturityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923352&quot; /&gt;&lt;a name=&quot;_Toc284885110&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;22.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Invest_Mantidos_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Invest_Mantidos_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized gains&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,738,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,442,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,489)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,175,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,259,564&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(421,874)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,963,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,568,936&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(428,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,241,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,918,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(306,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,853,654&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,739,187&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,388,614)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,379,323&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,894&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,947,901&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,695,180)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Invest_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Invest_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,998&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,284,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,070,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,932,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,133,746&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 5 to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,933,866&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,840,428&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,068,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,905,497&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,757,900&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,206,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,000,608&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,215,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Financial instruments pledged as collateral and classified as held to maturity, totaled R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;431 &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;thousand in 2016, as disclosed in Note 23 - &quot;Assets Pledged as Collateral&quot;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In 2017, the Organization maintained a total of R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;2,005&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; thousand (R$1,825 thousand in 2016) as investments held to maturity&amp;#160;&amp;#160; pledged as a guarantee for liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;We applied our Impairment policy, described in Note 2(f)(viii)(b), and in 2017 there was objective evidence of loss in our investments held to maturity in the amount of R$ 54,520 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:InvestmentsHeldToMaturityTextBlock>
  <bbd:FinancialAssetsPledgedAsCollateralTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923353&quot; /&gt;&lt;a name=&quot;_Toc284885111&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;23.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Cedidos_Garantia&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Cedidos_Garantia&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,182&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,282,141&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,182&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,282,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available for sale (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,482,796&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,275,415&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,039,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,530,423&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;431&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;431&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,975,173&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,286,577&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$&amp;#160;557,974 &amp;#160;thousand (2016 - R$ 1,443,642 thousand); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Refers to reverse repurchase agreements in which the underlying security has subsequently been sold &amp;#160;in a separate repurchase agreement.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied with. In these agreements, the amount of R$ 178,964,158 thousand (2016 - R$&amp;#160;147,673,043 thousand) may be repledged and R$ 5,011,015 thousand (2016 - R$ 7,613,534 thousand), sold or repledged.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:FinancialAssetsPledgedAsCollateralTextBlock>
  <ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923354&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;24.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emprest_Adiant_inst_Financeiras&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emprest_Adiant_inst_Financeiras&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Repurchase agreements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,045,591&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;85,178,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans to financial institutions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,207,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,667,388&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,481)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,398)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:6.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory>
  <bbd:LoansAndAdvancesToCustomersTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923355&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;25.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emprest_Adiant_Cliente&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emprest_Adiant_Cliente&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Working capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,700,584&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,390,890&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personal credit (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,570,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,255,740&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Housing loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,963,375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,458,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financing and export&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,272,982&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,983,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending BNDES/Finame&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,655,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,816,560&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,568,984&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,407,733&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicle loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,741,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,699,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rural loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,642,478&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,422,799&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Import&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,318,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,140,346&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for corporates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,587,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,583,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receivable insurance premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,301,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,517,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for individuals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,582,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,209,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leasing&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,249,859&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,738,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,659,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,459,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of net loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Allowance for loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Perdas_Emp_Adiant_Clientes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Perdas_Emp_Adiant_Clientes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,780,839&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,455,204&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,860,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,350,278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of credits charged-off as losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,034,857&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,507,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,620,965)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,532,150)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,055,566&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,780,839&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Finance lease receivables&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-7.05pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to customers include the following finance lease receivables.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Arrend_Financeiros_Receber&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Arrend_Financeiros_Receber&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross investments in financial leases receivable:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,118,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,418,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,082,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,279,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,718&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment loss on finance leases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(146,812)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(186,594)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net investment&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,552,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net investments in finance leases:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,034,188&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,300,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,021,089&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,212,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,552,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:LoansAndAdvancesToCustomersTextBlock>
<!-- ELement Id ifrs-full_DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory -->
  <ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923356&quot; /&gt;&lt;a name=&quot;_Toc284885112&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;26.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Nao_Correntes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc176337484&quot; /&gt;&lt;a name=&quot;IFRS_Ativos_Nao_Correntes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets not for own use&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,250,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,262,126&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicles and similar&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,774&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;308,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Machinery and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,037&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,529&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,954&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The properties or other non-current assets received in total or partial settlement of the payment obligations of debtors are considered as non-operating assets held for sale in auctions, which normally occur in up to one year. Therefore, non-current assets held for sale include the book value of the items the Organization intends to sell, which in their current condition is highly probable and expected to occur within a year.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory>
  <bbd:InvestmentsInAssociatesAndJointVenturesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;div style=&quot;page:WordSection6;&quot;&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923357&quot; /&gt;&lt;a name=&quot;_Toc284885113&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;27.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Breakdown of investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Invest_Coligadas_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:876.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;29&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A. (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,832,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,219,202&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;76,403,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,151,540&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,020,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,833,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,561,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,056,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.23%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.23%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;543,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,512,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,124,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,138,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;947,514&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,550,438&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (3) (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.28%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.28%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;692,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,791&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,389,026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,224,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;615,510&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,263,331&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,609,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,414&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Aquarius Participa&amp;#231;&amp;#245;es S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;263,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;242,617&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;532,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;237,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,637)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,588,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,283,453&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,565,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;726,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,432,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(113,185)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,871&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,320&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil Ind&amp;#250;stria de Equipamentos para Automa&amp;#231;&amp;#227;o S.A. (3) (9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,039&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;221,809&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,270&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tecnologia Banc&amp;#225;ria S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;108,752&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;242,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;75,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;590,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;496,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Swiss Re Corporate Solutions Brasil (Nota 43-5) (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;463,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,437)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,178,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,511,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,411,600&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;437,278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;490,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(66,093)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gestora de Intelig&amp;#234;ncia de Cr&amp;#233;dito S.A. (Nota 43-1) (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,642)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,961&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,253&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,210)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,129&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,210,958&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,543,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,183,908&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,094,434&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,773,103&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,712,492&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,241,126&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,665,582&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A. (10)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;978,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;420,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,776,837&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;324,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,231&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,393&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;339,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;119,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;324,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,107&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(39)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,198&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(78)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,046,426&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;174,424&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;762,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,855&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;421,529&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,848&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,783&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,946,146&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,992,289&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;89,194,631&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,720,340&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,421,168&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,014,365&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;a name=&quot;_Toc176337485&quot; /&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Anterior&quot; /&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;28&quot; width=&quot;69%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;28&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,204,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,699,378&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,654,621&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,004,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,167&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,007,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;662,460&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,484,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,828,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,238,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;844,876&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;646,823&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (3) (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;651,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,343,162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,021,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;429,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,166,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,045,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Aquarius Participa&amp;#231;&amp;#245;es S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;263,632&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;538,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,474&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,041,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,243,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,517&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;247,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,890&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,246&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tecnologia Banc&amp;#225;ria S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,543&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;193,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,117,398&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;499,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;406,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;686,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;292,862&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil Ind&amp;#250;stria de Equipamentos para Automa&amp;#231;&amp;#227;o S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,789&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,024)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;171,823&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,780&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,755&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,985&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,335)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Empresa Brasileira de Solda El&amp;#233;trica S.A. (3) (9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,089,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,515,823&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,478,006&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,790,895&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,520,113&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,725,119&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,241,924&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;849,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,596,527&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,627&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;396,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,174&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,721&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;443,978&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,883&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;317,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(98)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leader S.A. Adm. de Cart&amp;#245;es de Cr&amp;#233;dito (3) (8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,227)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;913,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,902&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;799,695&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,600,410&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;428,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,161&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;414,179&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,277,701&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,391,305&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,948,570&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,908,280&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,656,103&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;30&quot; width=&quot;70%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;30&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,302,071&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,043,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,755,540&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,806,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,199,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,696,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,386&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,472,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;658,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,165&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,768&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,144&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;673,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,262&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,124,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;268,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;299,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,408,157&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,845&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fidelity Processadora S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;254,785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;450,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;402,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;332,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;130,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,377)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,227,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;563,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,140,656&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,834,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,886)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,735&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;203,030&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,986&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,247&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,101&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;206,315&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,177&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,492&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Empresa Brasileira de Solda El&amp;#233;trica S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,954&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,769)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,151&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,519&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;115,874&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,774)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Integritas Participa&amp;#231;&amp;#245;es S.A. (3) (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;741,803&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;828&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,983&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,056,741&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,274,875&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,088,607&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,957,986&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,203,184&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,143,864&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,299,598&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,360,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;686,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,438,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;486,049&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,030&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;439,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;312,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;380,801&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;379,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;313,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leader S.A. Adm. de Cart&amp;#245;es de Cr&amp;#233;dito (3) (8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,013)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,920&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,026)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;758,584&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;253,176&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,046,647&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,454,929&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;838,361&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;487,648&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;506,255&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,135,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,412,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,041,545&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,143,879&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,787,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,866,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;29%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;5%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:3.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:53.5pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Revenues from financial intermediation or services; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(5)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Partial spin-off in October, 2015;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(6)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&amp;#231;&amp;#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(7)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In January 2016, Aquarius Participa&amp;#231;&amp;#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&amp;#231;os S.A.;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(8)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In April 2016, it was consolidated after acquisition of 50% of the company;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(9)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE - Empresa Brasileira de Solda El&amp;#233;trica S.A.); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(10)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participa&amp;#231;&amp;#245;es S.A. presented R$ 8,109 thousand of other comprehensive income.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.5pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In 2017, with the exception of Cielo S.A., IRB - Brasil Resseguros S.A. (IRB) and Fleury S.A, the other investments mentioned in the table above were not traded regularly on any stock exchange. The market value of investments totaled R$22,340,660 thousand (2016 - R$ 18,980,026 thousand). The Organization does not have any contingent liability for investments in Associates, in which it is responsible for, in part or in full.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:3.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Moviment_Invest_Coligadas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc284885114&quot; /&gt;&lt;a name=&quot;IFRS_Moviment_Invest_Coligadas&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Initial balances&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;524,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;376,434&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Spin-off of associates (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(170,006)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(166,294)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income of associates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dividends/Interest on capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(802,662)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(655,920)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (4)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(31,868)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(37,122)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,370)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Intelig&amp;#234;ncia de Cr&amp;#233;dito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cart&amp;#245;es de Cr&amp;#233;dito);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Disposal partial sale of the IRB (Note 43-6);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2016, the investment of Cia. Leader S.A. Administradora de Cart&amp;#245;es de Cr&amp;#233;dito began to be consolidated after acquisition of 50% of the company; and &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:InvestmentsInAssociatesAndJointVenturesTextBlock>
  <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923358&quot; /&gt;&lt;a name=&quot;_Toc284885115&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;28.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property and equipment&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;Composition of &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Classe_Imobilizado_Uso&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Classe_Imobilizado_Uso&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Annual rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Accumulated depreciation&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,153,407&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(483,266)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,670,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,450,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,667,455)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,783,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communication systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;349,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(213,879)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,950,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,329,028)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,621,597&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(48,246)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial leasing of data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,431,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,231,143)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,200,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,405,492&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,973,017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,153,351&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(454,426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,187,160&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,314,715)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communication systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;325,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,974)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,504,229&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,067,981)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,436,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,034)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial leasing of data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,229,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,047,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,182,497&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,514,262&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,117,146)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation charges in 2017 amounted to R$ 1,237,328 thousand (2016 - R$ 1,141,636 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We enter into finance lease agreements as a lessee for data processing equipment, which are recorded as leased equipment in property and equipment. According to this accounting method, both the asset and the obligation are recognized in the consolidated financial statements and the depreciation of the asset is calculated based on the same depreciation policy as for similar assets. See Note 38 for disclosure of the obligation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Change in &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Liquida_Imob_Uso_Classe&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Liquida_Imob_Uso_Classe&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;66%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communications systems&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,745&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,888&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;754,606&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;947,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,645&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(53,151)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(86,592)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(323,217)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,540)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(86,469)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(100)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(552,069)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(73,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,836)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,288)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(79,194)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,840)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(521,663)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,270)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(649,583)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,972)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,237,328)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,887&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,815&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,670,141&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,783,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,349&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,822,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;582,602&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;448,020&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,788,330&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,086&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,556,160&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,237&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,504,435&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;752,619&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;586,971&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;320,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,196&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,809&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;974,089&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,721&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,696,318&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,779,321&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,341)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,353)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(402,316)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(62,386)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,627)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(509,827)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,543)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,434)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,977)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,179)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(466,192)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,338)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(610,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,058)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,141,636)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(342,415)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,745&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;Includes financial lease of data processing systems; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;HSBC Brasil.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923359&quot; /&gt;&lt;a name=&quot;_Toc284885116&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;29.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Intangible assets and goodwill&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:32.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Change in intangible assets and goodwill by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Ativos_Intangiveis_Agio&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Ativos_Intangiveis_Agio&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisition of financial service rights (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Software (1)&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Customer portfolio (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,503,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,945,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,358,923&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,589&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions/(reductions)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,549,335&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,203,313&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,944)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,743,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,683)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,683)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,000,894)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,327,456)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,000,234)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,656)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,331,240)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,051,898&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,790,418&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,358,689&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;723,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,260,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,639,825&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;709,463&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;76,788&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,409,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;288,826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,840&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,773,545&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions/(reductions)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;930,190&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,284,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;129,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,343,497&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,374)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,374)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(951,115)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,055,074)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(344,283)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(166,305)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,516,777)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,503,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,945,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,358,923&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,589&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;HSBC Brasil; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Impairment losses were recognized in the consolidated statement of income, within &amp;#8220;Other operating income/(expenses)&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;a name=&quot;_Toc284885117&quot; /&gt;&lt;a name=&quot;_Toc474923360&quot; /&gt;&lt;a name=&quot;_Toc474919411&quot; /&gt;&lt;a name=&quot;_Toc415565927&quot; /&gt;&lt;a name=&quot;_Toc415499906&quot; /&gt;&lt;a name=&quot;_Toc415498741&quot; /&gt;&lt;a name=&quot;_Toc415498617&quot; /&gt;&lt;a name=&quot;_Toc415498388&quot; /&gt;&lt;a name=&quot;_Toc413337916&quot; /&gt;&lt;a name=&quot;_Toc381783429&quot; /&gt;&lt;a name=&quot;_Toc379874149&quot; /&gt;&lt;a name=&quot;_Toc355707679&quot; /&gt;&lt;a name=&quot;_Toc351014067&quot; /&gt;&lt;a name=&quot;_Toc320264403&quot; /&gt;&lt;a name=&quot;_Toc318995758&quot; /&gt;&lt;a name=&quot;_Toc316896343&quot; /&gt;&lt;a name=&quot;_Toc312767310&quot; /&gt;&lt;a name=&quot;_Toc289782494&quot; /&gt;&lt;a name=&quot;_Toc285698406&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Composition of goodwill by segment&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Agio_Por_Segmento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Agio_Por_Segmento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,651,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,651,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Cash Generation Units allocated to the banking segment and the insurance, pension and capitalization bonds segment are tested annually for impairment of goodwill. We did not incur any goodwill impairment losses in 2017,2016 and 2015.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The recoverable amount from the Banking Segment has been determined based on a value-in-use calculation. The calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate of 7.1% p.a. (7.6% p.a. in 2016). The forecast cash flows have been discounted at a rate of 13.6% p.a. (12.9% p.a. in 2016). &amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The key assumptions described above may change as economic and market conditions change. The Organization estimates that reasonably possible changes in these assumptions within the current economic environment are not expected to cause the recoverable amount of either unit to decline below the carrying amount.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory>
  <ifrs-full:DisclosureOfOtherAssetsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923361&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;30.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other assets&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outros_Ativos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outros_Ativos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign exchange transactions (1)(4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,279,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,455,821&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Debtors for guarantee deposits (2)(4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,840,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,372,044&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Negotiation and intermediation of securities (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,741,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,954,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trade and credit receivables (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,016,225&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,813,144&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred acquisition cost (insurance) - Note 35f&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other debtors&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,736,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,781,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prepaid expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,244,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,324,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income receivable (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,841,709&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,575,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank and interdepartmental accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,480,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;949,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,602,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,193,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,853,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,170,370&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution&amp;#39;s domestic currency, resulting from exchange sale operations; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Financial assets are recorded at amortized cost.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfOtherAssetsExplanatory>
  <ifrs-full:DisclosureOfDepositsFromBanksExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923362&quot; /&gt;&lt;a name=&quot;_Toc284885118&quot; /&gt;&lt;a name=&quot;_Toc289782496&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;31.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;a name=&quot;_Toc176337489&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities called &amp;#8220;Deposits from banks&amp;#8221; are initially measured at fair value and, subsequently, at amortized cost, using the effective interest rate method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by nature&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Demand deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,030,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;898,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,168,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;588,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Borrowings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,521,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,165,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,769,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,030,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfDepositsFromBanksExplanatory>
  <ifrs-full:DisclosureOfDepositsFromCustomersExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923363&quot; /&gt;&lt;a name=&quot;_Toc284885119&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;32.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;a name=&quot;_Toc176337490&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities called &amp;#8220;Deposits from customers&amp;#8221; are initially measured at fair value and subsequently at amortized cost, using the effective interest rate method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by nature &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Recursos_de_Clientes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Recursos_de_Clientes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Demand deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,058,324&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,521,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Savings deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,332,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,088,828&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Time deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,617,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,137,867&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfDepositsFromCustomersExplanatory>
  <bbd:FundsFromSecuritiesIssuedTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923364&quot; /&gt;&lt;a name=&quot;_Toc284885120&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;33.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Funds from securities issued&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by type of security issued and location&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Tipo_Papel_Emitido&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Tipo_Papel_Emitido&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Instruments Issued - Brazil:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate credit notes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,020,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,955,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Agribusiness notes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,973,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,116,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial bills&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,570,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;108,512,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,564,734&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,584,774&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities - Overseas:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Euronotes (1)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;634,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,785,654&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities issued through securitization - (item (b))&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,606,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,286,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,240,871&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,071,996&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Structured Operations Certificates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;368,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;445,168&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;(1)&amp;#160;&amp;#160; Issuance of securities in the foreign market to fund customers&amp;#39; foreign exchange operations, export pre-financing, import financing and working capital financing, substantially in the medium and long terms. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;a name=&quot;_Toc176337491&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Securities issued through securitization&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Since 2003, the Organization uses certain arrangements to optimize its activities of funding and liquidity management by means of an Specific Purpose Entity (SPE). This SPE, which is called International Diversified Payment Rights Company, is financed with long-term bonds which are settled with the future cash flow of the corresponding assets, basically comprising current and future flow of payment orders sent by individuals and legal entities abroad to beneficiaries in Brazil for whom Bradesco acts as payor.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The long-term instruments issued by the SPE and sold to investors will be settled with funds from the payment orders flows. The Organization is required to redeem the instruments in specific cases of default or upon closing of the operations of the SPE.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The funds deriving from the sale of current and future payment orders flows, received by the SPE, must be maintained in a specific bank account until they reach a given minimum level.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We show below the amounts of the securities issued by the SPE, which appear in the &amp;#8220;Funding from issuance of securities&amp;#8221; line item:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Date of Issue&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Nominal amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;11&quot; width=&quot;42%&quot; style=&quot;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securitization of the future flow of payment orders received from abroad&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;06,3,2008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;836,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,5,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,12,2008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,168,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,2,2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;698,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,12,2009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;89,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,2,2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,8,2010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,8,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,9,2010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,8,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,810&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,11,2011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,860&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,11,2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,989&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,11,2011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;133,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,11,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;177,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,12,2015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,11,2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,12,2015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,11,2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;318,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;02,2,2016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;889,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,2,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;871,260&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;872,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,3,2016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;533,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,2,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;521,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;522,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,998,763&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,606,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,286,342&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:382.7pt;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Prepaid.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:FundsFromSecuritiesIssuedTextBlock>
  <ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923365&quot; /&gt;&lt;a name=&quot;_Toc284885121&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;34.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:39.1pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Composition of subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Dividas_Subordinadas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc289782503&quot; /&gt;&lt;a name=&quot;_Toc285698414&quot; /&gt;&lt;a name=&quot;_Toc285642893&quot; /&gt;&lt;a name=&quot;_Toc285538759&quot; /&gt;&lt;a name=&quot;_Toc284885124&quot; /&gt;&lt;a name=&quot;_Toc284697630&quot; /&gt;&lt;a name=&quot;_Toc311210604&quot; /&gt;&lt;a name=&quot;_Toc311128505&quot; /&gt;&lt;a name=&quot;_Toc312767387&quot; /&gt;&lt;a name=&quot;_Toc311210603&quot; /&gt;&lt;a name=&quot;_Toc311128504&quot; /&gt;&lt;a name=&quot;_Toc320264480&quot; /&gt;&lt;a name=&quot;_Toc318995835&quot; /&gt;&lt;a name=&quot;_Toc316896420&quot; /&gt;&lt;a name=&quot;_Toc351014073&quot; /&gt;&lt;a name=&quot;_Toc474923366&quot; /&gt;&lt;a name=&quot;_Toc474919417&quot; /&gt;&lt;a name=&quot;IFRS_Dividas_Subordinadas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 - R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Original term in years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Nominal amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;In Brazil:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated CDB:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,303&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial bills:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017 (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,630,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,075,463&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,262,799&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,130,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,875,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,858&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,139&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,402&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017 (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,100&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,050&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,172,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,734&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,423,463&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,700&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,801&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,305,011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,597,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,050,633&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,359,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,522,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,450&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;119,417&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;112,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,735&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,184&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,212&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,556&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,383&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,896&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,706,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,265,488&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,015,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;136,695&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;143,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,193,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,624,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,125&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,813&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,806&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;400,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;457,679&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;417,641&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,429&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,143&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;688,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,011,423&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;284,137&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,376&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;361,196&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;438,776&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2027 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;258,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;273,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,046&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,996&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,566&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2028 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Perpetual&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,000,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,004,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,015,870&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal in Brazil&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,541,679&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,155,877&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overseas:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,333,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,520,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,482,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,886,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,697,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,333,373&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,766,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,419,644&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,639,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal overseas&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,637,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,455,187&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt transactions that matured in 2017; and &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;&quot;&gt;&lt;a name=&quot;_Toc474923367&quot; /&gt;&lt;a name=&quot;_Toc474919418&quot; /&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;New issuances of financial bills in 2017, referring to subordinated debt.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:2.5pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:25.1pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Net movement of subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;font lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;font-weight:normal;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;662&quot; style=&quot;border-collapse:collapse;width:517.099976pt;&quot;&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Initial balances&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,282,936 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,401,348 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Issuances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,594,610 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,787,207 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,100,017 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,298,555 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments and other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,126,290)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,158,982)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory>
  <bbd:DisclosureOfInsuranceTechnicalProvisionsAndPensionPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;div style=&quot;page:WordSection10;&quot;&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923371&quot; /&gt;&lt;a name=&quot;_Toc415498397&quot; /&gt;&lt;a name=&quot;_Toc284885127&quot; /&gt;&lt;a name=&quot;_Toc316896426&quot; /&gt;&lt;a name=&quot;_Toc289782506&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;35.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance technical provisions and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; 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&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnicas_por_Conta&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc320264487&quot; /&gt;&lt;a name=&quot;_Toc318995842&quot; /&gt;&lt;a name=&quot;_Toc316896428&quot; /&gt;&lt;a name=&quot;_Toc312767392&quot; /&gt;&lt;a name=&quot;_Toc289782508&quot; /&gt;&lt;a name=&quot;_Toc285698418&quot; /&gt;&lt;a name=&quot;_Toc285642897&quot; /&gt;&lt;a name=&quot;_Toc285538763&quot; /&gt;&lt;a name=&quot;_Toc284885128&quot; /&gt;&lt;a name=&quot;_Toc284697634&quot; /&gt;&lt;a name=&quot;IFRS_Prov_Tecnicas_por_Conta&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; valign=&quot;bottom&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and Pension (2)(3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current and long-term liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mathematical reserve for unvested benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,051,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;912,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,818,859&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;184,594,055&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,870,366&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;185,506,819&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mathematical reserve for vested benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;265,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;210,855&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,367,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,989,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,633,439&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,200,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for claims incurred but not reported (IBNR)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,159,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,770,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,030,107&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,264,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,190,074&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,034,622&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Unearned premium reserve&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,068,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,265,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;567,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;574,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,636,085&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,839,699&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for unsettled claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,291,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,645,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,588,489&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,682,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,879,921&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,327,615&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for financial surplus&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;514,199&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;514,199&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other technical provisions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,996,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,048,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,369,300&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,328,048&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,365,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,376,403&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total reserves&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) &amp;#160;&amp;#8220;Other technical provisions&amp;#8221; - Insurance basically refers to the technical provisions of the &amp;#8220;personal health&amp;#8221; portfolio; &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&amp;#160; Includes personal insurance and pension plans; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3) &amp;#8220;Other technical provisions&amp;#8221; - Life and Pension Plan mainly includes the &amp;#8220;Reserve for redemption and other amounts to be settled&amp;#8221;, &amp;#8220;Reserve for related expenses&amp;#8221;. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Technical provisions by product&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnica_por_Produto&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Tecnica_por_Produto&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and Pension (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,754,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,559,137&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,754,024&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,559,137&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto / Liability Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,156,847&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,126,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,156,847&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,126,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;DPVAT (Personal Injury Caused by Automotive Vehicles)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;506,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;471,288&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,100&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;509,261&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;474,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,018,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,336,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,018,884&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,336,759&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,523&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,447&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,523&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Free Benefits Generating Plan - PGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,087,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,605,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,087,618&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,605,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Free Benefits Generating Life - VGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,400,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,370,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,400,228&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,370,995&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(1) Includes personal and pension insurance operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Technical provisions by aggregated products&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnicas_Agregadas_Produto&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Tecnicas_Agregadas_Produto&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance - Vehicle, Elementary Lines, Life and Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,855,539&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,192,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance - Life with Survival Coverage (VGBL)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pensions - PGBL and Traditional Plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,623,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pensions - Risk Traditional Plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,864,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,418,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;/div&gt; &lt;div style=&quot;page:WordSection11;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;d)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Changes in the insurance and pension technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(i)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Segs_Planos_Trad_Riscos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Segs_Planos_Trad_Riscos&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,611,733&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,844,231&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) DPVAT insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(473,579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(333,699)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal at beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,138,154&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,510,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,542,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,700,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of claims, benefits and redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,156,197)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,449,844)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;648,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,376,701&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Partial spin-off of large risk portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(961,513)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal at end of the period&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,211,965&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,138,154&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(+) DPVAT insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;508,098&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,579&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,720,063&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,611,733&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(ii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Insurance - Life with Survival Coverage (VGBL)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Segs_Vida_Cobertura_Sobrev&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Segs_Vida_Cobertura_Sobrev&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,248,597&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receipt of premiums net of fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,577,437&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,824,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,758)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(47,379)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,985,242)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,674,828)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,468,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,660,738&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,956,372)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,040)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(iii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pensions - PGBL and Traditional Plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prev_PGBL_Planos_Trad_Renda&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prev_PGBL_Planos_Trad_Renda&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,848,112&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receipt of premiums net of fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,446,148&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,412,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(759,949)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(696,056)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,962,505)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,438,351)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,656,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,808,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,314,352)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(377,330)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,623,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;/div&gt; &lt;div style=&quot;page:WordSection12;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;e)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Guarantees for the technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Garantias_Provisoes_Tecnicas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc474923373&quot; /&gt;&lt;a name=&quot;_Toc474919424&quot; /&gt;&lt;a name=&quot;_Toc415565940&quot; /&gt;&lt;a name=&quot;_Toc415499919&quot; /&gt;&lt;a name=&quot;_Toc415498754&quot; /&gt;&lt;a name=&quot;_Toc415498630&quot; /&gt;&lt;a name=&quot;_Toc415498401&quot; /&gt;&lt;a name=&quot;_Toc413337930&quot; /&gt;&lt;a name=&quot;_Toc412626262&quot; /&gt;&lt;a name=&quot;_Toc381783444&quot; /&gt;&lt;a name=&quot;_Toc379874164&quot; /&gt;&lt;a name=&quot;_Toc355707699&quot; /&gt;&lt;a name=&quot;_Toc351014082&quot; /&gt;&lt;a name=&quot;_Toc320264490&quot; /&gt;&lt;a name=&quot;_Toc318995845&quot; /&gt;&lt;a name=&quot;_Toc316896431&quot; /&gt;&lt;a name=&quot;_Toc312767395&quot; /&gt;&lt;a name=&quot;_Toc289782512&quot; /&gt;&lt;a name=&quot;_Toc285698421&quot; /&gt;&lt;a name=&quot;_Toc285642900&quot; /&gt;&lt;a name=&quot;_Toc285538766&quot; /&gt;&lt;a name=&quot;_Toc284885131&quot; /&gt;&lt;a name=&quot;_Toc284697637&quot; /&gt;&lt;a name=&quot;_Toc289782511&quot; /&gt;&lt;a name=&quot;IFRS_Garantias_Provisoes_Tecnicas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; valign=&quot;bottom&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Deferred acquisition cost PPNG reducers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(138,780)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(237,104)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(138,780)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(237,104)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Portion corresponding to contracted reinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(153,137)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(947,159)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,123)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,191)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,260)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(988,350)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Deposits retained at IRB and court deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(925,999)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,068,329)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(925,999)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,068,329)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Unearned premium reserve - Health and dental insurance (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,268,243)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,182,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,268,243)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,182,152)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Reserves from DPVAT agreements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502,491)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(465,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502,491)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(465,568)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;To be insured&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,844,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,952,776&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,241,912&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,945,705&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,086,817&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;211,898,481&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment fund quotas (VGBL and PGBL) (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,639,798&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,337,785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,639,798&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,337,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment fund quotas (excluding VGBL and PGBL)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,076,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,164,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,639,087&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,273,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,715,093&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,437,664&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,011,657&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,882,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,608,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,187,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,619,851&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,069,021&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Private securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,203&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,541&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,727&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,716,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,728,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,719,628&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,731,181&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provision guarantees&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,109,093&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,142,261&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,767,818&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,696,117&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;246,876,911&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;220,838,378&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;The investment funds &quot;VGBL&quot; and &quot;PGBL&quot; were consolidated in the financial statements.&lt;/font&gt;&lt;/p&gt; &lt;/div&gt; &lt;div style=&quot;page:WordSection13;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;f)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Changes in deferred acquisition cost (insurance assets)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,945,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,586,888&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,940,226&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,250,844)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,135,220)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Partial spin-off of large risk portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,180)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;g)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Changes in reinsurance assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Ativos_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Ativos_Resseguro&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,144,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186,867&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;667,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(139,641)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(485,724)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovered insurance losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(259,433)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(173,908)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(754,362)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,378)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;219,214&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes the transfer of part of the operation of the large risk portfolio (Note 43).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;h)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Claim information&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The purpose of the table below is to show the inherent insurance risk, comparing the insurance claims paid with their provisions. Starting from the year in which the claim was reported, the upper part of the table shows the changes in the provision over the years. The provision varies as more precise information concerning the frequency and severity of the claims is obtained. The lower part of the table shows the reconciliation of the amounts with the amounts presented in the financial statements.&lt;/font&gt;&lt;/p&gt; &lt;/div&gt; &lt;div style=&quot;page:WordSection14;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance, Vehicle/RCF and Elementary Lines - Claims, gross reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sinistros_Brutos_de_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sinistros_Brutos_de_Resseguro&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for the claims:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,482,979&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,152,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,058,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,414,674&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,647,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,134,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,020,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,708,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,160,984&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,821,255&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,481,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,679,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,108,270&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,037,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,394,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,626,356&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,848,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,456,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,028,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,640,897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,711,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,088,069&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,018,329&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,387,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,604,738&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,021,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,809,942&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,464,389&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,989,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,783,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,094,795&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,015,921&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,403,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,604,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,041,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,839,210&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,845,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,102,364&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,046,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,418,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,600,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,071,989&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,813,496&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,902,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,102,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,044,644&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,428,252&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,625,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,888,296&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,956,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,127,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,056,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,431,363&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,621,044&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,982,993&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,140,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,072,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,419,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,028,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,158,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,057,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,074,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,149,106&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,086,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,086,824&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,149,106&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,057,911&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,419,614&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,621,044&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,888,296&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,813,496&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,234&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,989,904&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,640,897&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,481,275&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,584,601&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,064,293)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,022,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,042,673)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,390,739)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,586,371)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,835,738)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,753,035)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,355,681)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,879,707)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,491,476)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,766,457)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,188,369)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outstanding Claims&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,531&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,907&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,875&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,673&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,558&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,553&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;110,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;149,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;714,818&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,396,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance, Vehicle/RCF and Elementary Lines - Claims, net reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;a name=&quot;IFRS_Sinistros_Liquidos_de_Resseguro&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sinistros_Liquidos_de_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for net claims for reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,049,408&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;859,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,791,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,260,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,440,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,804,706&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,815,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,523,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,805,260&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,661,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,443,486&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,107,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;846,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,773,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,235,404&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,695,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,648,135&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,306,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,695,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,541,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,157,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;835,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,766,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,232,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,401,407&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,091&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,622,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,317,745&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,671,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,225,589&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;844,636&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,769,942&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,251,003&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,418,057&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,705,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,658,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,323,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,285,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;850,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,791,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,268,293&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,425,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,729,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,659,375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,338,449&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,121&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,281,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,452,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,746,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,390,840&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;868,958&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,810,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,291,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,459,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,426,256&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;873,978&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,822,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,292,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,466,917&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;884,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,824,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,510,383&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;890,132&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,527,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,527,764&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;890,132&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,824,085&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,292,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,459,251&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,746,804&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,659,375&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,323,339&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,671,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,541,988&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,443,486&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,380,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,505,614)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(880,207)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,809,102)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,265,943)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,424,679)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,694,553)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,599,885)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,243,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,563,269)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,393,389)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,736,036)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,116,019)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liquid outstanding claims for reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,150&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,983&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,708&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,572&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,251&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,490&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;79,997&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,955&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;148,599&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;707,450&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,264,080&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Life - Insurance claims, gross reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Vida_Sinistros_Liquidos_Resseguro&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; width=&quot;80%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;80%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for net claims for reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,987,288&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;987,998&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,062,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,185,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,403,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,448,969&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,509,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,536,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,653,008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,741,563&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,771,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,004,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,000,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,082,779&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,386,518&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,431,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,491,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,568,941&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,648,842&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,755,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,038,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,105,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,195,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,393,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,447,741&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,525,941&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,570,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,644,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,075,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,018,008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,100,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,185,871&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,406,376&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,450,511&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,514,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,495,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,079,897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,017,316&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,109,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,198,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,406,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,454,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,516,747&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,081,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,015,902&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,119,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,198,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,459,181&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,086,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,017,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,118,181&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,417,352&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,068,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,021,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,112,583&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,189,843&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,076,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,024,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,115,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,094,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,756&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,140,849&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,140,849&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,756&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,115,707&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,189,843&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,417,352&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,459,181&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,516,747&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,495,266&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,644,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,755,802&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,771,294&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,526,848&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,074,102)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,003,673)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,098,409)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,151,732)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,361,271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,398,760)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,428,669)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,307,155)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,337,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,499,651)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,280,837)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,941,458)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liquid outstanding claims for reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,747&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,083&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,298&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,111&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,081&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,078&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;188,111&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;306,852&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,151&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;490,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,585,390&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:40.8pt;margin-right:0in;margin-top:6.0pt;&quot;&gt;&lt;a name=&quot;_Toc381783445&quot; /&gt;&lt;a name=&quot;_Toc379874165&quot; /&gt;&lt;a name=&quot;_Toc355707700&quot; /&gt;&lt;a name=&quot;_Toc474923374&quot; /&gt;&lt;a name=&quot;_Toc474919425&quot; /&gt;&lt;a name=&quot;_Toc415565941&quot; /&gt;&lt;a name=&quot;_Toc415499920&quot; /&gt;&lt;a name=&quot;_Toc415498755&quot; /&gt;&lt;a name=&quot;_Toc415498631&quot; /&gt;&lt;a name=&quot;_Toc415498402&quot; /&gt;&lt;a name=&quot;_Toc413337931&quot; /&gt;&lt;a name=&quot;_Toc412626263&quot; /&gt;&lt;a name=&quot;IFRS_Vida_Sinistros_Liquidos_Resseguro&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) The claims table does not include the products &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health and Dental &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;insurance - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,906,361&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand, DPVAT insurance - R$&amp;#160;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,592&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand, Retrocession - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,722&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand and salvage and reimbursement estimates - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(163,923)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand.&lt;/font&gt;&lt;/p&gt; &lt;/div&gt;</bbd:DisclosureOfInsuranceTechnicalProvisionsAndPensionPlansTextBlock>
<!-- ELement Id ifrs-full_DisclosureOfAdditionalInformationAboutDefinedBenefitPlansExplanatory -->
  <ifrs-full:DisclosureOfAdditionalInformationAboutDefinedBenefitPlansExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923375&quot; /&gt;&lt;a name=&quot;_Toc284885132&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;36.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Supplemental pension plans&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco and its subsidiaries sponsor a private defined contribution pension for employees and directors, that allows financial resources to be accumulated by participants throughout their careers by means of employee and employer contributions and invested in an Exclusive Investment Fund (FIE). The Plan is managed by Bradesco Vida e Previd&amp;#234;ncia S.A. and BRAM - Bradesco Asset Management S.A. DTVM is responsible for the financial management of the FIEs funds.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Supplementary Pension Plan counts on contributions from employees and directors of Bradesco and its subsidiaries equivalent to at least 4% of their salary and, from the company, 5% of the salary, plus the percentage allocated to covers of risk benefits (invalidity and death). Actuarial obligations of the defined contribution plan are fully covered by the plan assets of the corresponding FIE. In addition to the plan, in 2001, participants who chose to migrate from the defined benefit plan are guaranteed a proportional deferred benefit, corresponding to their accumulated rights in that plan. For the active participants, retirees and pensioners of the defined benefit plan, now closed to new members, in run-off, the present value of the actuarial obligations of the plan is completely covered by collateral assets.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Banco Alvorada S.A. (successor from the spin-off of Banco Baneb S.A.) maintains defined contribution and defined benefit retirement plans, to the former employees of Baneb, through Funda&amp;#231;&amp;#227;o Baneb de Seguridade Social - Bases.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco sponsors both defined benefit and defined contribution retirement plans, through Caixa de Assist&amp;#234;ncia e Aposentadoria dos Funcion&amp;#225;rios do Banco do Estado do Maranh&amp;#227;o (Capof), to employees originating from Banco BEM S.A.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco sponsors a defined benefit plan through Caixa de Previd&amp;#234;ncia Privada Bec - Cabec, for former employees of Banco do Estado do Cear&amp;#225; S.A.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;With the acquisition of HSBC Bank Brasil S.A. (current Kirton Bank S.A. - Banco M&amp;#250;ltiplo), the open pension plan, which was offered to employees of that institution, in the modality of defined contribution, has been discontinued. From October 2016, the employees transferred can adhere to the Supplementary Pension Plan offered to the employees of Bradesco. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Kirton Bank S.A. - Banco M&amp;#250;ltiplo, Kirton Capitaliza&amp;#231;&amp;#227;o S.A., Kirton Corretora de Seguros S.A., Bradesco Kirton Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A. and Kirton Seguros S.A. sponsor a defined benefit plan called APABA to employees originating from Banco Bamerindus do Brasil S.A., and Kirton Administra&amp;#231;&amp;#227;o de Servi&amp;#231;os para Fundos de Pens&amp;#227;o Ltda. sponsors to its employees the Kirton Prev Benefits Plan (&lt;/font&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Plano de Benef&amp;#237;cios Kirton Prev)&lt;/font&gt;&lt;/i&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;), both managed by MultiBRA - Pension Fund.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Banco Losango S.A., Kirton Bank S.A. - Banco M&amp;#250;ltiplo and Credival - Participa&amp;#231;&amp;#245;es, Administra&amp;#231;&amp;#227;o e Assessoria Ltda. sponsor three pension plans for its employees, which are Losango I Benefits Plan - Basic Part (modality of defined contribution), Losango I - Supplementary Part and PREVMAIS Losango Plan (modality variable contribution), all managed by MultiBRA - Settlor - Multiple Fund.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco took on the obligations of Kirton Bank S.A. - Banco M&amp;#250;ltiplo with regard to Life Insurance, Health Insurance Plans, and Retirement Compensation for employees coming from Banco Bamerindus do Brasil S.A. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco, in its overseas facilities, provides for its employees and administrators a pension plan, according to the norms established by the local authorities, that allows to accumulate financial resources throughout the professional career of the participant.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Expenses related to contributions made in the year ending December 31, 2017, totaled R$&amp;#160;988,905&amp;#160;thousand (2016 - R$&amp;#160;584,438 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training. These expenses, including the aforementioned contributions, totaled the amount of R$&amp;#160;5,594,368 thousand in the year ending December 31, 2017 (2016 - R$ 3,826,715 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;red&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Planos_Previdencia_Complementar&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc284885133&quot; /&gt;&lt;a name=&quot;IFRS_Planos_Previdencia_Complementar&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(i)&amp;#160;&amp;#160;&amp;#160;&amp;#160; Projected benefit obligations:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,141,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,162,005&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;761,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of current service&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest cost&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Participant&amp;#39;s contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Actuarial gain/(loss)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,624&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,762&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefit paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,323,338&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,141,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(ii)&amp;#160;&amp;#160;&amp;#160; Plan assets comprise:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,047,782&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;883,858&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected earnings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;423,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307,728&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Contributions received:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefit paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,043)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,375,529&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(iii)&amp;#160;&amp;#160; Financial position:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Plans in deficit&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(149,571)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(130,293)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Plans in surplus&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,762&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,191&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,521)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-weight:normal;line-height:normal;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The net cost/(benefit) of the pension plans recognized in the consolidated statement of income includes the following components:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Custo_Beneficio_Pensao&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Custo_Beneficio_Pensao&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Projected benefit obligations:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of service&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of interest on actuarial obligations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;133,385&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected earnings from the assets of the plan&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(227,360)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(174,937)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(120,960)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net cost/(benefit) of the pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;806&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,581&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The accumulated obligations of the pension plans are included in &amp;#8220;Other Liabilities&amp;#8221;, in our consolidated statement of financial position.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;a name=&quot;_DV_C238&quot; /&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Benefit obligations and net periodic benefit cost for the years 2017 and 2016 for our subsidiaries, were determined using the following assumptions:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Obrig_Benef_Custo_Periodico&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Obrig_Benef_Custo_Periodico&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Discount rate (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5% - 10% p.a. &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.1% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected long-term rate of return on the assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5% - 10% p.a. &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.1% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Increase in salary levels&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.3% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.8% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The long-term rate of return on plan assets is based on the following:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:11.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Medium- to long-term expectations of the asset managers; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:11.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Public and private securities, with short to long-term maturities which represent a significant portion of the investment portfolios of our subsidiaries, the return on which is higher than inflation plus interest.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The assets of pension plans are invested in compliance with the applicable legislation (government securities and private securities, listed company shares and real estate properties) and the weighted-average allocation of the pension plan&amp;#39;s assets by category is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Alvorada Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Bradesco Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Kirton Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Losango Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset categories&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;92.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;82.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Below is the sensitivity analysis of the benefit plan obligations, showing the impact on the actuarial exposure (8.5 - 10.0% p.a.) assuming a 1 b.p. change in the discount rate:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sensib_Obrig_Planos_de_Beneficio&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sensib_Obrig_Planos_de_Beneficio&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Discount rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sensitivity Analysis&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect on actuarial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect on the present value of the obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9.5% - 11.0% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Increase of 1 p.p.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;reduction&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(256,532)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7.5% - 9.0% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Decrease of 1 b.p.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;increase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,154&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-weight:normal;line-height:normal;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfAdditionalInformationAboutDefinedBenefitPlansExplanatory>
  <bbd:DisclosureOfProvisionsContingentLiabilitiesAndContingentAssetsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923376&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;37.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Provisions, contingent liabilities and contingent assets&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent assets are not recognized in the financial statements. However, there are ongoing proceedings where the chance of success is considered probable, but of immaterial values, such as: a) Social Integration Program (PIS), Bradesco has made a claim to offset PIS against Gross Operating Income, paid under Decree-Laws n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;2,445/88 and n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;2,449/88, regarding the payment that exceeded the amount due under Supplementary Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;07/70 (PIS Repique); and b) other taxes, the legality and/or constitutionality of which is being challenged, where the decision may lead to reimbursement of amounts paid.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent liabilities and tax and social security obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization is a party to a number of labor, civil and tax lawsuits, arising from the normal course of business.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Management recorded provisions based on their opinion and that of their legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing, where the loss is deemed probable.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Management considers that the provision is sufficient to cover losses generated by the respective lawsuits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Liability related to litigation is held until the conclusion to the lawsuit, represented by judicial decisions, with no further appeals or due to the statute of limitation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;I -&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Labor claims&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;These are claims brought by former employees and outsourced employees seeking indemnifications, most significantly for unpaid &amp;#8220;overtime&amp;#8221;, pursuant to Article 224 of the Consolidation of Labor Laws (CLT). In proceedings in which a judicial deposit is used to guarantee the execution of the judgment, the labor provision is made considering the estimated loss of these deposits. For proceedings with similar characteristics and for which there has been no official court decision, the provision is recorded based on the average calculated value of payments made for labor complaints settled in the past 12 months and for proceedings originating from acquired banks, with unique characteristics, the calculation and assessment of the required balance is conducted periodically, &lt;a name=&quot;_DV_C157&quot; /&gt;based on the updated recent loss history.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Overtime is monitored by using electronic time cards and paid regularly during the employment contract and, accordingly, the claims filed by former employees do not represent significant amounts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;II -&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Civil proceedings&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;These are claims for pain and suffering and property damages, mainly relating to protests, returned checks, the inclusion of information about debtors in the credit restriction registry and the replacement of inflation adjustments excluded as a result of government economic plans. These lawsuits are individually controlled using a computer-based system and provisioned whenever the loss is deemed as probable, considering the opinion of Management and their legal counsel, the nature of the lawsuits, similarity with previous lawsuits, complexity and positioning of the courts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Most of these lawsuits are brought to the Special Civil Court (JEC), in which the claims are limited to 40 times the minimum wage and do not have a significant impact on&amp;#160; the Organization&amp;#39;s financial position.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;There are a significant number of legal claims pleading alleged differences in adjustment for inflation on savings account balances due to the implementation of economic plans that were part of the federal government&amp;#39;s economic policy to reduce inflation in the &amp;#8216;80s and &amp;#8216;90s. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Although Bradesco complied with the law and regulation in force at the time, these lawsuits have been recorded in provisions, taking into consideration the claims where the Bradesco is the defendant and the perspective of loss, which is considered after the analysis of each demand, based on the current decision of the Superior Court of Justice (STJ).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In December 2017, with the mediation of the Attorney&amp;#39;s General Office (AGU), the entities representing the bank and the savings accounts, entered into an agreement related to litigation of economic plans, with the purpose of closing these claims, in which conditions and schedule were established for savings accounts holders may to accede the agreement. This agreement was approved by the Federal Supreme Court (STF) on March 1, 2018, pending final decision of the approval decision. As this is a voluntary agreement, Bradesco is unable to predict how many savings account holders will choose to accept the settlement offer.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Note that, regarding disputes relating to economic plans, the Federal Supreme Court (STF) suspended the prosecution of all lawsuits on cognizance stage, until the Court issues a final decision on the right under litigation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Tax and social security obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization is disputing the legality and constitutionality of certain taxes and contributions in court, for which provisions have been recorded in full, although there is good chance of a favorable outcome, based on the opinion of Management and their legal counsel. The processing of these legal obligations and the provisions for cases for which the risk of loss is deemed as probable is regularly monitored in the legal court. During or after the conclusion of each case, a favorable outcome may arise for the Organization, resulting in the reversal of the related provisions. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The main cases are:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman,serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;PIS and COFINS - R$ 2,489,247&amp;#160;thousand (R$ 2,320,261 thousand in 2016): a request for authorization to calculate and pay PIS and COFINS based on effective billing, as set forth in Article 2 of Supplementary Law&amp;#160;n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; 70/91, removing from the calculation base the unconstitutional inclusion of other revenues other than those billed;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman,serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IRPJ/CSLL on losses of credits - R$ 1,614,663 thousand (R$ 1,913,208 thousand in 2016): we are requesting to deduct from income tax and social contributions payable (IRPJ and CSLL, respectively) amounts of actual and definite loan losses related to unconditional discounts granted during collections, regardless of compliance with the terms and conditions provided for in Articles 9 to 14 of Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;9,430/96 that only apply to temporary losses;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman,serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pension Contributions - R$ 1,466,469 thousand (R$ 1,385,456 thousand in 2016): official notifications related to the pension contributions on financial contributions in private pension plans, considered by the authorities to be compensatory sums subject to the incidence of pension contributions and to an isolated fine for not withholding IRRF on the financial contributions;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman,serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;INSS Autonomous Brokers - R$ 643,655&amp;#160;thousand (R$ 901,171 thousand in 2016): The Bradesco Organization is questioning the charging of social security contribution on remunerations paid to third-party service providers, established by Supplementary Law No.&amp;#160;84/96 and subsequent regulations/amendments, at 20.0% with an additional 2.5%, on the grounds that services are not provided to insurance companies but to policyholders, thus being outside the scope of such a contribution as provided for in item I, Article 22 of Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;8,212/91, as new wording in Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;9,876/99; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman,serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;INSS - Contribution to SAT - R$ 401,018 thousand (R$ 374,620 thousand in 2016): &amp;#160;thousand: in an ordinary lawsuit filed by the Brazilian Federation of Banks - Febraban, since April 2007, on behalf of its members, is questioning the classification of banks at the highest level of risk, with respect to Work Accident Risk - RAT, which eventually raised the rate of the respective contribution from 1% to 3%, in accordance with Decree n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; 6,042/07; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In general, the provisions relating to lawsuits are classified as non-current, due to the unpredictability of the duration of the proceedings in the Brazilian justice system. For this reason, the estimate has not been disclosed with relation to the specific year in which these lawsuits will be closed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In 2017, the Organization adhered to the Special Tax Regularization Program (PERT), established by Provisional Measure (MP) No. 783/17, which provides for the settlement by means of payment and installment payment of its tax and social security obligations with the Brazilian Federal Revenue Service and the National Treasury Attorney-General&amp;#39;s Office (PGFN) of debts due up to April 30, 2017, resulting in a negative net effect of R$241,141 thousand in the Consolidated statement of income. On October 24, 2017, the MP No. 783/17 was converted into Law No. 1396/17 and was amended; however, no relevant impacts on the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In addition to this, Bradesco also adhered to the Incentivized Installment Payment Program (PPI-SP), Law No. 16,680/17 in order to promote the settlement of debts regarding such law as to taxable events occurred up to December 31,2016, resulting in the net negative effect of R$61,814 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;d)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in other provision&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Outras_Provisoes&quot; width=&quot;590&quot; style=&quot;border-collapse:collapse;margin-left:42.55pt;width:450.799988pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Outras_Provisoes&quot; /&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:2.85pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Labor&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Civil&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax and Social Security (1) (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,101,732 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,440 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,237 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Indexation charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;637,263 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;484,447 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;500,719 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,002,559 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;830,642 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(984,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,186,758)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(971,966)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(114,246)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,554,796 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,346,563 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,589,368 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,048,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,202,950&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,112,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Indexation charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;454,045&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;409,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;705,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;876,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,310,333&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,236,705)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution &lt;sup&gt;(3)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,684,370&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;703,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(961,941)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,464,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,986)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,101,732&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,237&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;Mainly include legal liabilities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Sa&amp;#250;de subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;HSBC Brasil.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;e)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent liabilities classified as possible losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization maintains a system to monitor all administrative and judicial proceedings in which the institution is plaintiff or defendant and, based on the opinion of legal counsel, classifies the lawsuits according to the expectation of loss. Case law trends are periodically analyzed and, if necessary, the related risk is reclassified. In this respect, contingent lawsuits deemed to have a possible risk of loss are not recorded as a liability in the financial statements. The main proceedings in this category are the following: a) 2006 to 2013 income tax and social contribution, relating to goodwill amortization being disallowed on the acquisition of investments, for the amount of R$ 6,264,741 thousand (R$ 5,894,504 thousand in 2016); b) Fines and disallowances of Cofins loan compensations, released after a favorable decision in a judicial proceeding, where the unconstitutionality of the expansion of the intended calculation base was discussed for revenues other than those from billing (Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; 9,718/98), in the amount of R$ 4,902,151 thousand (R$ 3,999,185 thousand in 2016); c) Leases companies&amp;#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond to R$&amp;#160;2,394,087 thousand (R$ 2,398,185 thousand in 2016) which relates to the municipal tax demands from municipalities other than those in which the company is located and where, under law, tax is collected; d) IRPJ and CSLL deficiency note relating to disallowance of exclusions of revenues from the mark-to-market of securities from 2007 to 2013, differences in depreciation expenses, insufficient depreciation expenses, expenses with depreciation of leased assets, operating expenses and income and disallowance of tax loss compensation, in the amount of R$&amp;#160;2,431,844 thousand (R$ 1,653,942 thousand in 2016); e) Notifications and disallowances of compensations of PIS and Cofins related to the unconstitutional extension of the basis of calculation intended for other income other than the billing (Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; 9,718/98), from acquired companies, amounting to R$ 1,399,506 thousand (R$ 1,317,238 thousand in 2016); f) IRPJ and CSLL deficiency notice relating to the disallowance of loan loss deductions, for the amount of R$ 969,713 thousand (R$&amp;#160;760,436&amp;#160;thousand in 2016); and g) IRPJ and CSLL deficiency note, amounting to R$ 489,687 thousand (R$ 459,962 thousand in 2016) relating to profit of subsidiaries based overseas, for the calendar years of 2008 and 2009.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DisclosureOfProvisionsContingentLiabilitiesAndContingentAssetsTextBlock>
  <ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923377&quot; /&gt;&lt;a name=&quot;_Toc284885135&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;38.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outros_Passivos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outros_Passivos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card transactions (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,163,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,717,936&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign exchange transactions (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,085,029&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,975,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loan assignment obligations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,454,076&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,761,827&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,562,974&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,502,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,317,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,569,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities for acquisition of assets - financial leasing (Note 38 a)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,212&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Third party funds in transit (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,211,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,068,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for payments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,743,428&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,997,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sundry creditors&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,205,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,843,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social and statutory&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,524,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,631,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other taxes payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,466,306&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities for acquisition of assets and rights&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,480,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,452,568&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,745,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,853,333&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,816,824&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,965,515&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to amounts payable to merchants;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mainly refers to the institution&amp;#39;s sales in foreign currency to customers and its right&amp;#39;s in domestic currency, resulting from exchange sale operations; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:39.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Composition by maturity of financial leases and details of operating leases&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Arrend_Financ_Arrend_Operacionais&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Arrend_Financ_Arrend_Operacionais&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;564,337&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;578,965&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 2 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 2 to 3 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,548&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,212&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,649&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Total non-cancellable minimum future payments due on operating leases in 2017 are R$ 7,923,649 &amp;#160;thousand, of which R$ 832,991 thousand is due within 1 year, R$ 3,325,401 thousand between 1-5 years and R$ 3,765,257 thousand with more than 5 years. &lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory>
  <bbd:DisclosureOfEquityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923378&quot; /&gt;&lt;a name=&quot;_Toc284885136&quot; /&gt;&lt;a name=&quot;_Toc289782517&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;39.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Equity&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:76.55pt;text-indent:-76.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:-50.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital and shareholders&amp;#39; rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:76.55pt;text-indent:-76.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;i.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition of share capital in number of shares&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The share capital, which is fully subscribed and paid, is divided into registered shares with no par value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,481,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,481,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,480,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,480,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,108,961,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,108,961,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Treasury (common shares)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,032,549)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,032,549)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Treasury (preferred shares)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,855,746)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,855,746)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total outstanding shares&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;ii.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in capital stock, in number of shares&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2015 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,050,040,493&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,665,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shares acquired and not canceled&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(591,930)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(591,930)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,448,563&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,448,563&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;(1) All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&amp;#39; Meeting&amp;#160; of March 10, 2017 in proportion of one new share for every 10 shares held.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the Extraordinary General Meeting of March 10, 2016, the approval was proposed by the Board of Directors to increase the capital stock by R$ 8,000,000 thousand, increasing it from R$&amp;#160;43,100,000 thousand to R$ 51,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &amp;#8220;Profit Reserves - Statutory Reserve&amp;#8221;, in compliance with the provisions in Article 169 of Law &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 6,404/76, by issuing 504,872,885 new nominative-book entry shares, with no nominal value, whereby 252,436,456 are common and 252,436,429 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the Extraordinary General Meeting of March 10, 2017, the approval was proposed by the Board of Directors to increase the capital stock by R$8,000,000 thousand, increasing it from R$51,100,000 thousand to R$59,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &amp;#8220;Profit Reserves - Statutory Reserve&amp;#8221;, in compliance with the provisions in Article 169 of Law No. 6,404/76, by issuing 555,360,173 new nominative-book entry shares, with no nominal value, whereby 277,680,101 are common and 277,680,072 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date, and was approved by the Bacen on April 18, 2017.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All of the shareholders are entitled to receive, in total, a mandatory dividend of at least 30% of Bradesco&amp;#39;s annual net income, as shown in the statutory accounting records, adjusted by transfers to reserves. The Organization has no obligation that is exchangeable for or convertible into shares of capital. As a result, its diluted earnings per share is the same as the basic earnings per share.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In occurring any operation that changes the number of shares, simultaneously with the transaction in the Brazilian Market, and with the same timeframes, an identical procedure is adopted in the International Market, for the ADRs/GDRs traded in New York, USA, and Madrid, Spain.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Treasury shares are recorded at cost, which is approximately equivalent to the market prices on the date they are acquired. Cancellation of treasury shares is recorded as a reduction of unappropriated retained earnings. Treasury shares are acquired for subsequent sale or cancellation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:-43.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reserves&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital reserve&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The capital reserve consists mainly of premiums paid by the shareholders upon subscription of shares. The capital reserve is used for (i) absorption of any losses in excess of accumulated losses and revenue reserves, (ii) redemption, reimbursement of purchase of shares, (iii) redemption of founders&amp;#180; shares, (iv) transfer to share capital, and (v) payment of dividends to preferred shares, when this privilege is granted to them.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenue reserves&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In accordance with Corporate Legislation, Bradesco and its Brazilian subsidiaries must allocate 5% of their annual statutory net income, after absorption of accumulated losses, to a legal reserve, the distribution of which is subject to certain limitations. The reserve can be used to increase capital or to absorb losses, but cannot be distributed in the form of dividends.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Statutory Reserve aims to maintain an operating margin that is compatible with the development of the Organization&amp;#39;s active operations and may be formed by up to 100% of net income remaining after statutory allocations if proposed by the Board of Executive Officers, approved by the Board of Directors and ratified at the Shareholders&amp;#39; Meeting, with the accumulated value limited to 95% of the Organization&amp;#39;s paid-in capital share amount.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:-43.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest on shareholders&amp;#39; equity / Dividends &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest on shareholders&amp;#39; equity are calculated on the net income as determined in the financial statements prepared in accordance with Brazilian generally accepted accounting principles (BR GAAP) applicable to financial institutions authorized to operate by the Central Bank of Brazil. The dividends are paid in &lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reais&lt;/font&gt;&lt;/i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; and can be converted into US dollars and remitted to shareholders abroad, provided that the equity participation of the non-resident shareholder is registered with the Central Bank of Brazil, Brazilian companies may pay interest on equity to shareholders based on the net equity and treat these payments as deductible expenses in the Brazilian income tax and social contribution calculations. The interest cost is treated for accounting purposes as a deduction from equity in a manner similar to dividends. Withholding income tax is levied and paid at the time that the interest on equity is paid to the shareholders.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In 2017 the Organization distributed interest on shareholders&amp;#39; equity of R$ 7,204,344 &amp;#160;thousand, being attributed to the shareholders, the gross amount per share of R$ 1.13 for common shares and R$ 1.25 for preferred shares (2016 - R$ 6,975,782 thousand, R$ 1.09 for common shares and R$ 1.20 for preferred shares).&lt;/font&gt;&lt;/p&gt;</bbd:DisclosureOfEquityTextBlock>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;div style=&quot;page:WordSection16;&quot;&gt; &lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923379&quot; /&gt;&lt;a name=&quot;_Toc284885137&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;40.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transactions with related parties&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Related party transactions are carried out under conditions and at rates consistent with those entered into with third parties, when applicable, and effective on the dates of the operations. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main transactions with related parties are presented as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; valign=&quot;bottom&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Controllers (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and Jointly controlled companies (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Key Management Personnel (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;724,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,033,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;724,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,033,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,572&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,128&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,572&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,128&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;931,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,374,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,734&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,928&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,213&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,122,088&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,524,462&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,632,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,755,615&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;244,082&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;398,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,405,203&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;823,527&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,282,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,977,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social and statutory&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,275,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,770,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,275,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,770,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,827,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,827,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Controllers (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and Jointly controlled companies (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Key Management Personnel (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenues and expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,059)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,129,931)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(78,813)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,814)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(84,818)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(108,333)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(88,344)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(931,206)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,280,078)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,583)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other revenues&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,652)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,391)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,160)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(289,100)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224,444)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(246,504)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(291,752)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(226,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(248,664)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1) Cidade de Deus Cia. Cial. de Participa&amp;#231;&amp;#245;es, Funda&amp;#231;&amp;#227;o Bradesco, NCF Participa&amp;#231;&amp;#245;es S.A., Titanium Holdings S.A., BBD Participa&amp;#231;&amp;#245;es S.A. and Nova Cidade de Deus Participa&amp;#231;&amp;#245;es S.A.;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2) Companies listed in Note 2; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3) Members of the Board of Directors and the Board of Executive Officers.&lt;/font&gt;&lt;/p&gt; &lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a) Remuneration of key management personnel&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:53.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The following is established each year at the Annual Shareholders&amp;#39; Meeting:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The annual grand total amount of management compensation, set forth at the Board of Directors Meetings, to be paid to board members and members of the Board of Executive Officers, as determined by the Company&amp;#39;s Bylaws; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The amount allocated to finance Management pension plans, within the Employee and Management pension plan of the Bradesco.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For 2017, the maximum amount of R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;468,700 &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;thousand was set for Management compensation and R$ 487,700 thousand to finance defined contribution pension plans. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The current policy on Management compensation sets forth that 50% of net variable compensation, if any, must be allocated to the acquisition of PNB issued by BBD Participa&amp;#231;&amp;#245;es S.A. and / or issued PN shares of Bradesco Bank S.A., which vest in three equal, annual and successive installments, the first of which is in the year following the payment date. This procedure complies with Resolution &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 3921/10, which sets forth a management compensation policy for financial institutions.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Short-term benefits for management&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Beneficios_Curto_Prazo_Adm&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Beneficios_Curto_Prazo_Adm&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salaries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;456,262&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,864&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;456,262&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,592&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,864&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Post-employment benefits&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Beneficios_Pos_Pagos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Beneficios_Pos_Pagos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Defined contribution supplementary pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,663&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,250&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;311,670&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,663&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,250&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;311,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:53.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has no long-term benefits for the termination of employment contracts or for remuneration based on shares for its key management personnel.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other information&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Under current law, financial institutions are not allowed to grant loans or advances to:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Officers and members of the advisory, administrative, fiscal or similar councils, as well as to their respective spouses and family members up to the&lt;sup&gt; &lt;/sup&gt;second degree;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Individuals or corporations that own more than 10% of their capital; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(iii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Corporations in which the financial institution itself, any officers or administrators of the institution, as well as their spouses and respective family members up to the second degree own more than 10% of equity.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:53.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Therefore, no loans or advances are granted by the financial institutions to any subsidiary, members of the Board of Directors or Board of Executive Officers and their relatives.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Equity participation &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding in Bradesco:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;35%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;65%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total shares (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:77.4pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <ifrs-full:DisclosureOfCommitmentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923380&quot; /&gt;&lt;a name=&quot;_Toc284885138&quot; /&gt;&lt;a name=&quot;_Toc279663415&quot; /&gt;&lt;a name=&quot;_Toc316896440&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;41.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Off-balance sheet commitments&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below summarizes the total risk represented by off-balance sheet commitments:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Itens_Nao_Registrados_BP&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Itens_Nao_Registrados_BP&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commitments to extend credit (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;203,927,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;237,019,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial guarantees (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,867,348&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,949,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Letters of credit for imports&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;294,229&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;329,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,089,393&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,298,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to guarantees mostly provided for Corporate customers.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial guarantees are conditional commitments for loans issued to ensure the performance of a customer in an obligation to a third party. There is usually the right of recourse against the customer to recover any amount paid under these guarantees. Moreover, we can retain cash or other highly-liquid funds to counter-guarantee these commitments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The contracts are subject to the same credit evaluations as other loans and advances . Standby letters of credit are issued mainly to endorse public and private debt issue agreements including commercial paper, securities financing and similar transactions. The standby letters of credit are subject to customer credit evaluation by the management.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We issue letters of credit in connection with foreign trade transactions to guarantee the performance of a customer with a third party. These instruments are short-term commitments to pay the third-party beneficiary under certain contractual terms for the shipment of products. The contracts are subject to the same credit evaluation as other loans and advances.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfCommitmentsExplanatory>
  <bbd:DisclosureOfNewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885139&quot; /&gt;&lt;a name=&quot;_Toc474923381&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;42.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;New standards&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; and amendments&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; and interpretations of &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;existing&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; standards &lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Standards, amendments and interpretations of existing standards in future periods&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 replaces the guidance in IAS 39 - Financial Instruments: Recognition and Measurement. IFRS 9 is applied for financial instruments and will be adopted retrospectively on the effective date of the standard on January 1, 2018. IFRS 9 includes: (i) new models for the classification and measurement of financial instruments; (ii) measurement of expected credit losses for financial assets; and (iii) new requirements on hedge accounting. The new standard maintains the principal existing guidance on the recognition and derecognition of financial instruments in IAS 39.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pursuant to analysis made by the Organization, the estimated impacts from the adoption of IFRS 9 will represent, according to the best estimates, a reduction of approximately 2% (R$ 2.2 billion) of shareholders&amp;#39; equity, net of tax effects.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(i)&amp;#160;&amp;#160;&amp;#160;&amp;#160; Classification - Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 contains a new approach of classification and measurement of financial assets, where the entity considers not only the business model for the management of financial assets but also the features of contractual cash flow of the financial asset.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 eliminates the categories existing in IAS 39 and classifies the financial assets into three categories: (i) measured at amortized cost; (ii) measured at fair value through other comprehensive income (FVTOCI); and (iii) measured at fair value through profit or loss (FVTPL).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pursuant to IFRS 9, derivatives embedded in agreements where the host asset is in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification and usually classified as FVTPL.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Based on the evaluation, the Organization does not believe that the new classification requirements, when applied from January 1, 2018, will have material impact on the recording of accounts receivable, loans and advances, investments in debt securities and investments in equity securities measured at fair value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;On December 31, 2017, the Organization had equity investments classified as available for sale with fair value of R$ 11,038 millions which are held for long-term strategic purposes. Pursuant to IFRS 9, the Organization, on current best estimates, could designate these instruments as VJORA. Thus, all fair value gains and losses should be recorded in other comprehensive income, with no impairment losses recognized in the income (loss) and no gain or loss is recycled to the income (loss) upon realization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(ii)&amp;#160;&amp;#160;&amp;#160; Impairment -Financial instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 replaces the model of &amp;#8220;incurred losses&amp;#8221; of IAS 39 with a prospective model of &amp;#8220;expected losses&amp;#8221;. This will require relevant judgment as to how changes in economic factors affect expected credit losses, which will be determined based on weighted probabilities. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The new model of expected losses will apply to the financial instruments measured at amortized cost or VJORA (except for investments in equity instruments). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pursuant to IFRS 9, the provisions for expected losses will be measured on one of the following bases:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;- Expected loan losses for 12 months, that is, loan losses resulting from all possible events of default within 12 months from the report date; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;- Expected loan losses for the entire life, that is, loan losses resulting from all possible events of default over the expected life of a financial instrument.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The measurement of expected losses for the entire life is applied when the credit risk of a financial asset, on the report date, has significantly increased since its first recognition, and the measurement of loan loss for 12 months is applied when the loan risk has not significantly increased since its first recognition. An entity may determine that the loan risk of a financial asset did not significantly increase when the asset has low credit risk on the date of the report.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization believes that impairment losses will increase and become more volatile than the current ones, for the assets assessed in the model of IFRS 9. Based on the methodology of allowance for loan losses adopted, the Organization estimated, on current best estimates, that the application of the impairment requirements of IFRS 9 on January 1, 2018 would result in additional allowance for loan losses, as described in the table below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;1&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border:none;border-collapse:collapse;margin-left:56.55pt;width:446.299988pt;&quot;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;R$ millions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Provision for additional estimated credit losses on January 1, 2018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Credit portfolio (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 3,829 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 842 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Total gross additional provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;4,671 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(1) includes commitments and financial guarantees provided&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The following analysis provides additional details on the methodology adopted and on the impact&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;estimated on January 1, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Impairment of financial instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Expected loan losses were calculated based on experience of actual loan losses in the past years. The Organization calculated the rates of expected loan losses based on the features of each portfolio, that is, it used quantitative models for loans assessed in a group and a combination of quantitative and qualitative models for large companies. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The experience of actual loan losses was adjusted to reflect the differences between economic conditions during the period in which the historical data were collected, current conditions and the Organization&amp;#39;s view of future economic conditions.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The table below, on current best estimates, provides information on the estimated exposure to loan risk and expected loan losses and advances, commitments, financial collaterals provided and Private Debt Securities, on January 1, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;1&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;567&quot; style=&quot;border:none;border-collapse:collapse;margin-left:56.55pt;width:468.200012pt;&quot;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;R$ millions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Estimated Exposure to Credit Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:250%;&quot;&gt;Expected Loss&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Expected Loss on Estimated Exposure to Credit Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 432,416 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,688 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 51,853 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,581 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;15%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 37,277 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 17,779 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;48%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 521,546 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 33,048 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;6%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;30%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;22%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;23%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;23%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Stage 1: Financial instruments that do not present significant deterioration in credit quality;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Stage 2: Financial instruments that present significant deterioration in credit quality; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Stage 3: Financial instruments that indicate that the obligation will not be fully honored.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;With respect to Government Bonds, the Organization internally developed a study for loan risk evaluation of these bonds, which is not expected to be lost for the next 12 months, that is, there is no need of allowance for loan losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(iii)&amp;#160;&amp;#160; Classification - Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 maintains most part of the requirements of IAS 39 regarding the classification of financial liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;But, pursuant to IAS 39, the fair value variations of liabilities designated as FVTPL are recognized in the income (loss), whereas pursuant to IFRS 9, these changes of fair value should be presented as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; the fair value variation that is attributable to changes in the loan risk of financial liabilities&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;should be presented in Other comprehensive income (OCI); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; the remaining value of the fair value variation should be presented in the income (loss).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization does not intend, in its best current estimates, to assign financial liabilities to the VJR. The evaluation conducted by the Organization did not indicate any material impact if the requirements of IFRS 9, regarding the classification of financial liabilities, were applied on January 1, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(iv)&amp;#160;&amp;#160; Hedge Accounting&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Upon the first adoption the Organization opted to continue to apply the requirements of IAS 39 for hedge accounting, as permitted by IFRS 9 until the conclusion by the IASB of the macro-hedge project and the finalization of the hedge accounting section.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 requires that the Organization ensures that the hedge accounting relations are aligned with its risk management purposes and strategies and that the Organization adopt a more qualitative and prospective approach to assess hedge effectiveness. IFRS 9 also introduces new requirements for re-balance of hedge relations and prohibits the voluntary discontinuance of the hedge accounting if inconsistent with the risk management strategies of the entity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(v)&amp;#160;&amp;#160;&amp;#160; Disclosures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 9 will demand new disclosures, mainly related to expected loan losses, credit risk and hedge accounting. The Organization&amp;#39;s evaluation includes an analysis to identify the disclosure detail levels of the deficiencies in relation to the information required and current processes, and also implementations and improvements of controls in order to meet the new requirements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(vi)&amp;#160;&amp;#160; Transition&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Changes in accounting policies resulting from the adoption of IFRS 9 will be applied retrospectively on the date of initial application.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;- The Organization opted for the exemption under the Standard of not restating comparative information from prior periods derived from changes in the classification and measurement of financial instruments (including expected loan). The differences in the accounting balances of financial assets and liabilities resulting from the adoption of IFRS 9 will be recognized in Retained Earnings on January 1, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;- Based on the facts and circumstances existing on the date of first adoption the Organization is performing the following evaluations:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:57.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;determination of the business model in which a financial asset is held.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:57.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;designation and cancellation of prior designations of certain financial assets and liabilities measured at VJR; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:57.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;designation of certain investments in equity instruments not held for trading as VJORA.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 15 - Revenue from Contracts with Customers - requires that revenue is recognized so as to reflect the transfer of goods or services to the client for an amount that represents the company&amp;#39;s expectation of having rights to these goods or services by way of consideration. IFRS 15 replaces IAS 18, IAS 11, and related interpretations (IFRICs 13, 15 and 18), and shall be applicable from January, 2018. We conducted a study on the recognition of revenue from customer contracts and concluded that there would be no significant impact on the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 16 - Leases. The main changes in relation to IAS 17 for lessees are: (i) there is no longer classification in operating and financial leases; and (ii) all leasing operations are accounted in liabilities, and interest and liabilities must be recognized in depreciation / amortization, using the current financial lease procedure. There are optional exemptions for short-term leases and leases of low-value items. Lessor accounting remains similar to the current standard, as lessors continue to classify leases as finance or operating leases. IFRS16 replaces IAS17 and will be applicable as of January 1, 2019 and the possible impacts arising from the adoption of this amendment are being evaluated, and will be concluded by the date of entry into force of the standard.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:57.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRS 17 - Insurance Contracts. Establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the Standard. The purpose of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts. This information provides a basis for accounting firm users to evaluate the effect that insurance contracts have on the Company&amp;#39;s financial position, financial performance and cash flows. IFRS 17 is effective for annual periods beginning on or after January 1, 2021. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:57.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;IFRIC 23 - Applies to any situation where there is uncertainty as to whether an income tax treatment is acceptable under tax law. The scope of the Interpretation includes all taxes covered by IAS 12, that is, both current and deferred tax. However, it does not apply to uncertainty regarding taxes covered by other standards. IFRIC 23 becomes operative for financial periods beginning on or after January 1, 2019. The possible impacts arising from the adoption of this amendment are being evaluated and will be concluded by the date of entry into force of the standard.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DisclosureOfNewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsTextBlock>
  <bbd:DisclosureOfOtherInformationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923382&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;43.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other information&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;ol start=&quot;1&quot; type=&quot;1&quot; style=&quot;margin-bottom:0in;margin-top:0in;&quot;&gt; &lt;li style=&quot;text-align:justify;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;&quot;&gt;In June, 2017, Bradesco has signed definitive documents with Banco do Brasil S.A., Banco Santander (Brasil) S.A., Caixa Econ&amp;#244;mica Federal and Ita&amp;#250; Unibanco S.A., in order to create a holding company of credit intelligence (&quot;GIC&quot;), which will develop a database with the goal of adding, reconciling and handling database and credit-related information, of individuals and legal entities, which expressly authorize their inclusion in the database, as required by the applicable rules.&lt;/font&gt;&lt;font lang=&quot;EN-US&quot;&gt; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;&quot;&gt;The control of the company will be shared, with each party holding 20% of its capital. The necessary capital contribution occurred in July 2017.&lt;/font&gt;&lt;/li&gt; &lt;/ol&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;2.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Unconsolidated structured entities are unconsolidated entities that the Organization does not control, but which have a contractual and non-contractual involvement, and provide variability of returns arising from the performance. The organization has an involvement with structured entities through management of investment funds and portfolios making management fees and consortium management.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The main unconsolidated structured entities are, (i) the investment funds managed by Organization, whose nature and involvement, generating management fees and investment in units for funds, the assets of managed funds and non consolidated in 2017 were R$&amp;#160;338,846,142 thousand (2016 - R$&amp;#160;426,390,575 thousand) and revenues earned in 2017 were R$&amp;#160;1,463,469 thousand (2016 - R$&amp;#160;1,079,653 thousand) and (ii) the consortium which nature and involvement is related to generation management fees of consortium quotas, represented by groups of quotaholders formed to aquire specific goods, whose assets in 2017 were R$&amp;#160;74,323,031 thousand (2016 - R$ 71,075,119 thousand) and the revenues were in 2017 R$ 1,526,660 thousand (2016 - R$&amp;#160;1,278,753&amp;#160;thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;3.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In May, 2016, occurred the&lt;/font&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;indictment of three members of its Bradesco&amp;#39;s Executive Board of Directors by the Federal Police, in the scope of the so-called &quot;Operation Zealots&quot;. On July, 2016, the Federal Public Prosecution filed an accusation against all three members of the Board of Executive Officers and a former member of its Board of Directors, which was received by the Judge of the 10th Federal Court of Judicial Section of the Federal District. The Management conducted a thorough internal evaluation of the records and documents related to the indictment and found no evidence of any illegality committed by its representatives. The executives of Bradesco have already submitted their respective &lt;/font&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;answers to the prosecution,&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; pointing out the facts and evidence demonstrating their innocence. The process has already had its investigation phase closed, now await the final allegations and sentence of the first degree trial. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In parallel to his defense, the Chairman of the Board of Executive Officers of Bradesco, Mr. Luiz Carlos Trabuco Cappi, presented a petition for habeas corpus to the Regional Federal Court (Tribunal Federal Regional) - 1st Region. After processing the motion for habeas corpus, the 4th Panel of the aforementioned Court, by unanimous decision, excluded him from criminal proceedings, due to lack of just cause. This procedure is under appeal to STJ (Superior Court of Justice). The same habeas corpus was extended to the former member of the Board of Directors, previously indicted.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Bradesco provided all the information requested to the competent regulatory bodies, in Brazil and abroad. Moreover, Bradesco was summoned by the General&amp;#180;s Office of the Ministry of Finance on the filing of an Administrative Proceeding (&quot;PAR&quot;). This process, which is in the pre-trial phase, may entail the possibility of application of a fine and/or mention on public lists, which may eventually lead to restrictions on business with public agencies.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On account of the news published in the media, on the indictment in the &quot;Operation Zealots&quot;, a class action was filed in the District Court of New York, on June 3, 2016. On September 1, 2016, Bradesco spontaneously attended the proceedings of the Class Action and agreed with the plaintiff a term for the submission of the revocation of the suit until December 23, 2016. On October 21, 2016, the Plaintiff Leader presented the addendum of the Initial Petition, appointing as defendants Bradesco and three members of its Board of Executive Officers. According to the demand, investors who purchased preferred American Depositary Shares (&amp;#8220;ADS&amp;#8221;) of Bradesco between April 30, 2012 and July 27, 2016 would have suffered losses provoked by Bradesco due to a supposed violation regarding the American law of capital markets, according to communication to the Market on May 31, June 8 and July 28, 2016. On December 23, 2016, Bradesco filed a motion to dismiss the process, which - following a reply from the Lead Plaintiff and a rejoinder from Bradesco, and on September 29, 2017, the Judge decided the following: (i) the Court partially upheld and rejected the termination request, limiting the proposed class to investors who purchased American Depositary Shares (&quot;ADS&quot;) Bradesco between August 8, 2014 and July 27, 2016; and (ii) the Court granted to the Lead Plaintiff a 30-day term to present an addendum to the initial request. After said term, on October 30, 2017, the Lead Plaintiff informed the Judge that it will not present any amendments. Thus, the demand will lead to the discovery phase, so the limitation of the aforementioned class would be maintained. Given the current phase of the demand, it is not possible to perform a risk analysis and, besides, there are no elements to support the assessment of the amount of said risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;4.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The wholly-owned subsidiaries of Bradesco, BEM - Distribuidora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios Ltda. and BRAM - Bradesco Asset Management S.A. Distribuidora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios, as well as two of its Managers, were mentioned in the scope of the so-called &quot;Greenfield operation&quot; of the Federal Police, because they were responsible for the administration and management of the Fund in Equity - FIP (Equity Investment Fund), respectively. Besides providing the documents, the Federal Court has ruled, in the course of this Operation, the blocking of these companies&amp;#39; values. As a result of this, a Commitment was signed, approved by the 10th Federal Court of the Federal District, to release the values through the provision of guarantees of up to R$104 million, without the recognition of any civil or criminal liability on the part of companies or administrators of the Organization. In the scope of this commitment, managers and officers of the Organization committed to provide any clarifications to the authorities responsible for conducting this investigation, regardless of a formal subpoena.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;5.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In July 2017, Bradesco Seguros SA (&quot;Bradesco Seguros&quot;) and Swiss Re Corporate Solutions Ltd. (&quot;Swiss Re Corso&quot;) concluded the transaction, by means of a shareholder agreement, whereby: (i) Swiss Re Corporate Solutions Brasil Seguros S/A (&quot;Swiss Re Corporate Solutions Brazil&quot;) took over part of the P&amp;amp;C (Property and Casualty) insurance operations, such as, Aeronautical, Marine, Civil Liability and shipments from Bradesco Seguros (&quot;Large Risks Insurance&quot;), with exclusive access to Bradesco customers to explore the commercialization of Large Risks Insurance; and (ii) Bradesco Seguros held a 40% interest in Swiss Re Corporate Solutions Brasil represented by a total of 172,560,054 book entry shares, common and nominative in the amount of R$363,103 thousand, and 60% remained with Swiss Re Corso. The transaction was approved by the Private Insurance Superintendence (Susep), the Administrative Council for Economic Defense (Cade) and the Central Bank (Bacen). The association includes exclusive access to the distribution network of Bradesco Seguros, comprised of more than 140 branches, more than 4,700 branches of Banco Bradesco and approximately 40,000 registered brokers and insurance agents. As part of the transaction, approximately 120 large risk experts from Bradesco Seguros, in S&amp;#227;o Paulo and Rio de Janeiro, joined Swiss Re Corporate Solutions Brasil Seguros S/A. The investment totals R$490,000 thousand, recorded by Bradesco Seguros S.A., includes goodwill on the acquisition of shares in the amount of R$126,897 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;6.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In May 2017, Bradesco - as an indirect holder of equity interest in IRB - announced to shareholders that had authorized IRB to submit: (i) application for registration as a publicly-held company and for authorization of initial public offering of IRB, pursuant to CVM Instructions 400/03 and 480/09; and (ii) application for registration of secondary public distribution of common shares issued by IRB, pursuant to CVM Instruction 400/03. In July 2017, Bradesco announced that the documents were filed in compliance with the requirements formulated by CVM in the context of the Secondary Public Offering of IRB&amp;#39;s common shares and the closing of the bookbuilding procedure of the Offering, which defined the price per share at R$27.24. 14,040,000 shares were sold in the Base Offering and then the entire supplementary lot totaling 16,206,387 shares. Bradesco indirectly holds 47,520,213 shares and a 15.23% interest in the capital stock of IRB.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;7.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In July 2017, Bradesco launched a Special Voluntary Severance Program Scheme (PDVE), in which the Organization&amp;#39;s employees who fulfilled the requirements established in the regulations of the respective plan may join. The deadline for joining the plan ended in late August 2017, with the adhesion of 7.4 thousand employees, and a total cost of R$2.3 billion. The estimated annual effect on personnel expenses is a reduction of R$1.5 billion.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DisclosureOfOtherInformationTextBlock>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;44.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsequent events&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:32.2pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;1.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In January 2018, Bradesco carried out credit assigned loans, already written off to loss, without retention of risks and benefits, with a face value of R$ 5,323,120 thousand, whose sale value was R$ 110,189 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:32.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;text-indent:.5in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:13.5pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;text-indent:.5in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923281&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;3.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk Management&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923282&quot; /&gt;&lt;a name=&quot;_Toc474919333&quot; /&gt;&lt;a name=&quot;_Toc415565860&quot; /&gt;&lt;a name=&quot;_Toc415499839&quot; /&gt;&lt;a name=&quot;_Toc415498674&quot; /&gt;&lt;a name=&quot;_Toc415498550&quot; /&gt;&lt;a name=&quot;_Toc415498321&quot; /&gt;&lt;a name=&quot;_Toc413337849&quot; /&gt;&lt;a name=&quot;_Toc412626181&quot; /&gt;&lt;a name=&quot;_Toc381783361&quot; /&gt;&lt;a name=&quot;_Toc379874081&quot; /&gt;&lt;a name=&quot;_Toc355707611&quot; /&gt;&lt;a name=&quot;_Toc351013992&quot; /&gt;&lt;a name=&quot;_Toc320264338&quot; /&gt;&lt;a name=&quot;_Toc318995692&quot; /&gt;&lt;a name=&quot;_Toc318995490&quot; /&gt;&lt;a name=&quot;_Toc316896277&quot; /&gt;&lt;a name=&quot;_Toc312767246&quot; /&gt;&lt;a name=&quot;_Toc289782427&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Risk-management structure&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk and capital management structure is made up of committees, which assist the Board of Directors, the CEO and the Board of Executive Officers in their strategic decision-making process. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has a committee known as the Integrated Risk and Capital Allocation Management Committee (COGIRAC), whose duty is to advise the Board of Directors in performing its duties in risk management, &amp;#160;capital and control. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;This committee is assisted by the Capital Management Executive Committee, and Risk Management Executive Committees in managing a) Credit risk, b) Market and Liquidity risk, c) Operational and Social and Environmental risk and d) Bradesco&amp;#39;s Insurance Group and BSP Empreendimentos Imobili&amp;#225;rios. In addition, it also has the support of the Products and Services Executive Committee and the Executive Committees in business areas, which, among other duties, suggest exposure thresholds to their respective risks and prepare mitigation plans to be submitted to the Integrated Risk and Capital Allocation Management Committee and the Board of Directors.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To comply with Resolution 4.557/17 of the National Monetary Council (CMN), the Risk Committee was implemented in order to also assist the Board of Directors in the performance of its assignments related to risk and capital management, and the position of Chief Risk Officer (CRO) was formalized, which, among other responsibilities, exercises the supervision of the development, implementation and performance of the risk management structure, including its improvement, on independent basis and reporting to the Risk Committee, CEO and Board of Directors.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Integrated Risk Control Department (DCIR), whose mission is to promote and to implementing risk control and capital allocation through robust practices and certification of existence, execution and effectiveness of controls which assure acceptable risk levels in the Organization&amp;#39;s processes, independently, consistently, on a transparent and integrated manner. This Department is also responsible for complying with the Brazilian Central Bank rules for risk management activities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk appetite&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk appetite refers to the types and levels of risks that the Organization is willing to accept in the conduct of its business and purposes. The Risk Appetite Statement - RAS is an important instrument that summarizes the risk culture of the Organization, and guides the strategic and business plans, driving the budget planning and allowing Senior Management to optimize the allocation of capital at acceptable risk levels and types.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;At the same time, RAS emphasizes the existence of an efficient process of assignments in the operational risk management and in the performance of control functions, as well as for mitigation and disciplinary actions and processes of scheduling and reporting to Senior Management upon breach of the risk limits or control processes established. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Risk Appetite Statement is reviewed on annual basis, or whenever necessary, by the Board of Directors and permanently monitored by forums of the Senior Management and business and control areas.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;RAS reinforces the dissemination of the risk culture by disclosing the main aspects of risk appetite of the Organization to all its members.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the many types of risks, whether measurable or not, the Organization established control approaches, observing the main global dimensions :&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Solvency : to maintain a proper capital level, even on prospective basis, to cover unexpected losses, situations of stress and business opportunities, in compliance with regulatory requirements, thus ensuring the soundness of the Organization;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Profitability: to remunerate its capital on sustainable basis, seeking to cover the remuneration expectation of its shareholders in relation to the risks assumed in their business;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Liquidity: to maintain diversified and low cost sources of funding through interconnected network and dynamic and proper segmentation to provide a cash structure compatible with the size of its obligations; thus, ensuring survival even in adverse scenarios;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loan: to focus on domestic public, on diversified and dispersed manner, in terms of products and segments, aiming at the security and quality of the portfolio, with guarantees consistent with the risks assumed, considering the amounts, purposes and terms of loans granted and maintaining proper levels of provisions and concentrations;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:131.25pt;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market: to align the exposures to the strategic guidelines, with specific limits established on independent basis and with risks mapped, measured and classified as to the probability and magnitude; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:131.25pt;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.55pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Operational: to mitigate operating risks related to frauds, corruption, intentional violations of legislative or regulatory requirements, as well as to mitigate human or procedural errors in the performance of supporting and business activities.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.25pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;More detailed information about the Risk Appetite Statement is available in the Risk Management Report - Pillar 3 published at http://www.bradescori.com.br.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Stress Test Program&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk management structure has a stress test program defined as a coordinated set of processes and routines, containing own methodologies, documentation and governance, whose principal purpose is to identify potential vulnerabilities of the institution. Stress tests are exercises of prospective evaluation of the potential impacts of adverse events and circumstances on capital, on liquidity or on the value of a portfolio of the Organization. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Board of Executive Officers and Board of Directors are responsible for the approval of the program, guidelines to be followed and for the approval of the scenarios and results of stress tests.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Stress tests are used as tool for the management of risks, in its identification, measurement, evaluation, monitoring, control and mitigation of risks of the institution. The results of stress tests are used for evaluation of capital and liquidity levels of the institution, for preparation of the respective contingency plans, for evaluation of the capital adequacy, and for the recovery plan. Similarly, the results are considered in the decisions related to strategic guidelines, definition of the levels and limits of risk appetite applied to the management of risks and capital, as well as in the definition of governance actions aimed at mitigation of risks identified as inconsistent with the risk appetite of the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923283&quot; /&gt;&lt;a name=&quot;_Toc284327554&quot; /&gt;&lt;a name=&quot;_Toc284323257&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.1.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Credit risk&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit risk refers to the possibility of losses associated with the borrower&amp;#39;s or counterparty&amp;#39;s failure to comply with their financial obligations under the terms agreed, as well as the fall in value of loan agreements resulting from deterioration in the borrower&amp;#39;s risk rating, the reduction in gains or remunerations, benefits granted to borrowers in renegotiations, recovery costs and other costs related to the counterparty&amp;#39;s noncompliance with the financial obligations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit risk management in the Organization is a continuous and evolving process of mapping, development, assessment and diagnosis through the use of models, instruments and procedures that require a high degree of discipline and control during the analysis of transactions in order to preserve the integrity and autonomy of the processes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization controls the exposure to credit risk which comprises mainly loans and advances, securities and derivatives. There is also the credit risk in financial obligations relating to commitments on loan or financial guarantees.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;With the objective of not compromising the quality of the portfolio, all aspects inherent to credit concession, concentration, guarantee requirements and terms, among others, are observed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization continuously maps all the activities that could possibly generate exposure to credit risk, classifying them by their probability and magnitude, identifying their managers and mitigation plans.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923284&quot; /&gt;&lt;a name=&quot;_Toc474919335&quot; /&gt;&lt;a name=&quot;_Toc415565862&quot; /&gt;&lt;a name=&quot;_Toc415499841&quot; /&gt;&lt;a name=&quot;_Toc415498676&quot; /&gt;&lt;a name=&quot;_Toc415498552&quot; /&gt;&lt;a name=&quot;_Toc415498323&quot; /&gt;&lt;a name=&quot;_Toc413337851&quot; /&gt;&lt;a name=&quot;_Toc412626183&quot; /&gt;&lt;a name=&quot;_Toc381783363&quot; /&gt;&lt;a name=&quot;_Toc379874083&quot; /&gt;&lt;a name=&quot;_Toc355707613&quot; /&gt;&lt;a name=&quot;_Toc351013994&quot; /&gt;&lt;a name=&quot;_Toc320264340&quot; /&gt;&lt;a name=&quot;_Toc318995694&quot; /&gt;&lt;a name=&quot;_Toc318995492&quot; /&gt;&lt;a name=&quot;_Toc316896279&quot; /&gt;&lt;a name=&quot;_Toc312767248&quot; /&gt;&lt;a name=&quot;_Toc289782429&quot; /&gt;&lt;a name=&quot;_Toc285698342&quot; /&gt;&lt;a name=&quot;_Toc285642823&quot; /&gt;&lt;a name=&quot;_Toc285538689&quot; /&gt;&lt;a name=&quot;_Toc285477050&quot; /&gt;&lt;a name=&quot;_Toc285472589&quot; /&gt;&lt;a name=&quot;_Toc284885054&quot; /&gt;&lt;a name=&quot;_Toc284697560&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Counterparty Credit Risk&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The counterparty credit risk to which the Organization is exposed includes the possibility of losses due to the non-compliance by counterparties with their obligations relating to the settlement of financial asset trades, including the settlement of derivative financial instruments. Counterparty credit risk also includes the risk related to a downgrade in the counterparty&amp;#39;s credit standing.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization exercises complete control over its net position (the difference between purchase and sale agreements) and potential future exposures from operations where there is counterparty risk. Each counterparty&amp;#39;s exposure to risk is treated in the same way and is part of general credit limits granted by the Organization&amp;#39;s &amp;#160;to its customers. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Usually, guarantees associated with this type of operation include margin deposits, which are made by the counterparty with the Organization or with other trustees, whose counterparty&amp;#39;s risks are also appropriately evaluated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923285&quot; /&gt;&lt;a name=&quot;_Toc474919336&quot; /&gt;&lt;a name=&quot;_Toc415565863&quot; /&gt;&lt;a name=&quot;_Toc415499842&quot; /&gt;&lt;a name=&quot;_Toc415498677&quot; /&gt;&lt;a name=&quot;_Toc415498553&quot; /&gt;&lt;a name=&quot;_Toc415498324&quot; /&gt;&lt;a name=&quot;_Toc413337852&quot; /&gt;&lt;a name=&quot;_Toc412626184&quot; /&gt;&lt;a name=&quot;_Toc381783364&quot; /&gt;&lt;a name=&quot;_Toc379874084&quot; /&gt;&lt;a name=&quot;_Toc355707614&quot; /&gt;&lt;a name=&quot;_Toc351013995&quot; /&gt;&lt;a name=&quot;_Toc320264341&quot; /&gt;&lt;a name=&quot;_Toc318995695&quot; /&gt;&lt;a name=&quot;_Toc318995493&quot; /&gt;&lt;a name=&quot;_Toc316896280&quot; /&gt;&lt;a name=&quot;_Toc312767249&quot; /&gt;&lt;a name=&quot;_Toc289782430&quot; /&gt;&lt;a name=&quot;_Toc285698343&quot; /&gt;&lt;a name=&quot;_Toc285642824&quot; /&gt;&lt;a name=&quot;_Toc285538690&quot; /&gt;&lt;a name=&quot;_Toc285477051&quot; /&gt;&lt;a name=&quot;_Toc285472590&quot; /&gt;&lt;a name=&quot;_Toc284885055&quot; /&gt;&lt;a name=&quot;_Toc284697561&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Credit Concession&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Under the responsibility of the Credit Department, lending procedures are based on the Organization&amp;#39;s credit policy emphasizing &amp;#160;the security, quality and liquidity of the lending. The process is guided by the risk-management governance and complies with the rules of the Central Bank of Brazil.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The methodologies adopted value business agility and profitability, with targeted and appropriate procedures oriented to the granting of credit transactions and establishment of operating limits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the evaluation and classification of customers or economic groups, the quantitative (economic and financial indicators) and qualitative (personal data and behaviors) aspects associated with the customers capacity to honor their obligations are considered.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All business proposals are subject to operational limits, which are included in the Loan Guidelines and Procedures. At branches, the delegation of power to grant a loan depends on its size, the total exposure to the Organization, the guarantees offered, the level of restriction and their credit risk score/rating. Business proposals with risks beyond these limits are subject to technical analysis and approval of by the Credit Department. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In its turn, the Executive Credit Committee was created to decide, within its authority, on queries about the granting of limits or loans proposed by business areas, previously analyzed and with opinion from the Credit Department. According to the size of the operations/limits proposed, this Committee, may then submit the proposal for approval by the Board of Directors, depending on the amounts involved.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loan proposals pass through an automated system with parameters set to provide important information for the analysis, granting and subsequent monitoring of loans, minimizing the risks inherent in the operations. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;There are exclusive Credit and Behavior Scoring systems for the assignment of high volume, low principal loans in the Retail segment, meant to provide speed and reliability, while standardizing the procedures for loan analysis and approval.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:3.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Business is diversified wide-spread and aimed at individuals and companies with a proven payment capacity and solvency, seeking to support them with guarantees that are adequate to the risk assumed, considering the amounts, objectives and the maturities of loan granted. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc285538691&quot; /&gt;&lt;a name=&quot;_Toc285477052&quot; /&gt;&lt;a name=&quot;_Toc285472591&quot; /&gt;&lt;a name=&quot;_Toc284885056&quot; /&gt;&lt;a name=&quot;_Toc284697562&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923286&quot; /&gt;&lt;a name=&quot;_Toc474919337&quot; /&gt;&lt;a name=&quot;_Toc415565864&quot; /&gt;&lt;a name=&quot;_Toc415499843&quot; /&gt;&lt;a name=&quot;_Toc415498678&quot; /&gt;&lt;a name=&quot;_Toc415498554&quot; /&gt;&lt;a name=&quot;_Toc415498325&quot; /&gt;&lt;a name=&quot;_Toc413337853&quot; /&gt;&lt;a name=&quot;_Toc412626185&quot; /&gt;&lt;a name=&quot;_Toc381783365&quot; /&gt;&lt;a name=&quot;_Toc379874085&quot; /&gt;&lt;a name=&quot;_Toc355707615&quot; /&gt;&lt;a name=&quot;_Toc351013996&quot; /&gt;&lt;a name=&quot;_Toc320264342&quot; /&gt;&lt;a name=&quot;_Toc318995696&quot; /&gt;&lt;a name=&quot;_Toc318995494&quot; /&gt;&lt;a name=&quot;_Toc316896281&quot; /&gt;&lt;a name=&quot;_Toc312767250&quot; /&gt;&lt;a name=&quot;_Toc289782431&quot; /&gt;&lt;a name=&quot;_Toc285698345&quot; /&gt;&lt;a name=&quot;_Toc285642826&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Credit Risk Rating&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit risk assessment methodology, in addition to providing data to establish the minimum parameters for lending and risk management, also enables the definition of Special Credit Rules and Procedures according to customer characteristics and size. Thus, the methodology provides the basis not only for the correct pricing of operations, but also for defining the appropriate guarantees.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The methodology used also follows the requirements established by (CMN) Resolution 4,327/14 and includes analysis of social and environmental risk in projects, aimed at evaluating customers&amp;#39; compliance with related laws and the Equator Principles, a set of rules that establish the minimum social and environmental criteria which must be met for lending.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In accordance with its commitment to the continuous improvement of methodologies, the credit risk rating of the Organization&amp;#39;s economic groups/customers uses an eighteen-level scale, in which fourteen levels represent performing loan operations, ensuring greater compliance with the requirements of the Basel Capital Accord.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk ratings for economic groups (legal entities) are based on standardized statistical and judgmental procedures, and on quantitative and qualitative information. Classifications are carried out in a corporate manner and periodically monitored in order to preserve the quality of the credit portfolio.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For individuals, in general, credit ratings are based on personal data variables, such as income, assets, restrictions and indebtedness, in addition to the history of their relationship with the Organization, and statistical credit evaluation models.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk classification adopted on the basis of the customers&amp;#39; capacity of honoring their commitments is shown below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Classif_Risco_Credito&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Classif_Risco_Credito&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Internal Rating&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Organization classification&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;AA1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;AA2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;AA3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;A1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;A2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Low risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;A3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;B1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;B2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;B3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;C1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;C2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;C3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;C4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;D&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;E&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;F&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;G&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:7.1pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;H&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923287&quot; /&gt;&lt;a name=&quot;_Toc474919338&quot; /&gt;&lt;a name=&quot;_Toc415565865&quot; /&gt;&lt;a name=&quot;_Toc415499844&quot; /&gt;&lt;a name=&quot;_Toc415498679&quot; /&gt;&lt;a name=&quot;_Toc415498555&quot; /&gt;&lt;a name=&quot;_Toc415498326&quot; /&gt;&lt;a name=&quot;_Toc413337854&quot; /&gt;&lt;a name=&quot;_Toc412626186&quot; /&gt;&lt;a name=&quot;_Toc381783366&quot; /&gt;&lt;a name=&quot;_Toc379874086&quot; /&gt;&lt;a name=&quot;_Toc355707616&quot; /&gt;&lt;a name=&quot;_Toc351013997&quot; /&gt;&lt;a name=&quot;_Toc320264343&quot; /&gt;&lt;a name=&quot;_Toc318995697&quot; /&gt;&lt;a name=&quot;_Toc318995495&quot; /&gt;&lt;a name=&quot;_Toc316896282&quot; /&gt;&lt;a name=&quot;_Toc312767251&quot; /&gt;&lt;a name=&quot;_Toc289782432&quot; /&gt;&lt;a name=&quot;_Toc285698346&quot; /&gt;&lt;a name=&quot;_Toc285642827&quot; /&gt;&lt;a name=&quot;_Toc285538692&quot; /&gt;&lt;a name=&quot;_Toc285477053&quot; /&gt;&lt;a name=&quot;_Toc285472592&quot; /&gt;&lt;a name=&quot;_Toc284885057&quot; /&gt;&lt;a name=&quot;_Toc284697563&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Credit-Risk Management Process&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit risk management process is conducted in a corporation-wide manner. This process involves several areas with specific duties, ensuring an efficient structure. Credit risk measurement and control are conducted in a centralized and independent manner.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit risk monitoring area actively participates in improving the customer risk rating models, following up large risks by periodically monitoring major delinquencies and the provisioning levels for expected and unexpected losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;This area continuously reviews the internal processes, including the roles and responsibilities and it training and requirements, as well as conducts periodical reviews of risk evaluation processes to incorporate new practices and methodologies.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923288&quot; /&gt;&lt;a name=&quot;_Toc474919339&quot; /&gt;&lt;a name=&quot;_Toc415565866&quot; /&gt;&lt;a name=&quot;_Toc415499845&quot; /&gt;&lt;a name=&quot;_Toc415498680&quot; /&gt;&lt;a name=&quot;_Toc415498556&quot; /&gt;&lt;a name=&quot;_Toc415498327&quot; /&gt;&lt;a name=&quot;_Toc413337855&quot; /&gt;&lt;a name=&quot;_Toc412626187&quot; /&gt;&lt;a name=&quot;_Toc381783367&quot; /&gt;&lt;a name=&quot;_Toc379874087&quot; /&gt;&lt;a name=&quot;_Toc355707617&quot; /&gt;&lt;a name=&quot;_Toc351013998&quot; /&gt;&lt;a name=&quot;_Toc320264344&quot; /&gt;&lt;a name=&quot;_Toc318995698&quot; /&gt;&lt;a name=&quot;_Toc318995496&quot; /&gt;&lt;a name=&quot;_Toc316896283&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Control and Monitoring &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.5pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit risk of the Organization has its control and corporate follow-up done in the credit risk area of the DCIR. The Department advises the Executive Committee on Credit Risk Management, where methodologies for measuring credit risk are discussed and formalized. Significant issues discussed in this committee are reported to the COGIRAC, which is subordinate to the Board of Directors.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition to committee meetings, the area holds monthly meetings with all product and segment executives and officers, with a view to inform them about the evolution of the loan portfolio, deliquency, credit recoveries, gross and net losses, limits and concentrations of portfolios, among others. This information is also reported to the Audit Committee on a monthly basis&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The area also monitors any internal or external event that may cause a significant impact on the Organization&amp;#39;s credit risk, such as spin-offs, bankruptcies and crop failures, in addition to monitoring economic activity in the sectors to which the company has significant risk exposures. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Both the governance process and existing limits are sanctioned by the Integrated Risk Management and Capital Allocation Committee, which are submitted for the approval of the Board of Directors, being reviewed at least once a year.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923289&quot; /&gt;&lt;a name=&quot;_Toc474919340&quot; /&gt;&lt;a name=&quot;_Toc415565867&quot; /&gt;&lt;a name=&quot;_Toc415499846&quot; /&gt;&lt;a name=&quot;_Toc415498681&quot; /&gt;&lt;a name=&quot;_Toc415498557&quot; /&gt;&lt;a name=&quot;_Toc415498328&quot; /&gt;&lt;a name=&quot;_Toc413337856&quot; /&gt;&lt;a name=&quot;_Toc412626188&quot; /&gt;&lt;a name=&quot;_Toc381783368&quot; /&gt;&lt;a name=&quot;_Toc379874088&quot; /&gt;&lt;a name=&quot;_Toc355707618&quot; /&gt;&lt;a name=&quot;_Toc351013999&quot; /&gt;&lt;a name=&quot;_Toc320264345&quot; /&gt;&lt;a name=&quot;_Toc318995699&quot; /&gt;&lt;a name=&quot;_Toc318995497&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Internal Report &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit risk is monitored on a daily basis in order to maintain the risk levels within the limits established by the Organization. Managerial reports on risk control are provided to all levels of business, from branches to Senior Management.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;With the objective of highlighting the risk situations that could result in the customers&amp;#39; inability to honor its obligations as contracted, the credit risk monitoring area provides daily reports, to the branches, business segments, as well as the lending and loan recovery areas. This system provides timely information about the loan portfolios and credit bureau information of customers, in addition to enabling comparison of past and current information, highlighting points requiring a more in-depth analysis by managers. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization also has an electronic corporate system of credit risk indicators to provide the lending and loan recovery areas, business areas, regional managers and branches with information on assets by segment, product, region, risk classification, delinquency and expected and unexpected losses, among others. This electronic system provides both a macro-level and detailed view of the information, and also enables a specific loan operation to be viewed. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The information is viewed and delivered via dashboards, allowing queries at several levels such as business segment, divisions, managers, regions, products, employees and customers, and under several aspects (asset, delinquency, provision, write-off, restriction levels, guarantees, portfolio quality by rating, among others).&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc285698348&quot; /&gt;&lt;a name=&quot;_Toc285642829&quot; /&gt;&lt;a name=&quot;_Toc285538694&quot; /&gt;&lt;a name=&quot;_Toc285477055&quot; /&gt;&lt;a name=&quot;_Toc285472594&quot; /&gt;&lt;a name=&quot;_Toc284885059&quot; /&gt;&lt;a name=&quot;_Toc284697565&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Credit Risk Exposure &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We present below the credit risk exposure of the financial instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Exposicao_Risco_Credito&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Exposicao_Risco_Credito&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;599,199,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;497,974,002&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total items recorded in the balance sheet (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,100,876,068&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,074,213,502&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total items not recorded in the balance sheet (Note 41)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,089,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,298,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total risk exposure&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,383,965,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,390,511,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization&amp;#39;s maximum credit risk exposure was R$ 1,383,965,461 &amp;#160;thousand in 2017, which was an reduction of 0.5% compared to 2016.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Of this exposure, R$ 81,742,951 thousand, or 5.9% is related to cash and bank deposits composed mainly of funds deposited with the Central Bank of Brazil that are assessed to have low credit risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Operations classified as &amp;#8220;Other financial assets&amp;#8221; item totaling R$ 599,199,362 thousand (43.3% of the total exposure), have a low credit risks as it primarily consists of Brazilian government bonds which, are recorded at their market value, represented by &amp;#8220;Financial assets held for trading&amp;#8221; R$ 241,710,041 thousand (2016 - R$ 213,139,846&amp;#160; thousand), &amp;#8220;Financial assets available for sale&amp;#8221; R$ 159,412,722 thousand (2016 - R$ 113,118,554 thousand) and &amp;#8220;Investments held to maturity&amp;#8221; recognized as amortized cost in the amount of R$ 39,006,118 thousand (2016 - R$&amp;#160;43,002,028 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In 2017, items not recorded in the consolidated statement of financial position (recorded in off-balance sheet accounts) amounted to R$ 283,089,393 thousand (2016 - R$ 316,298,033 thousand), reaching a level of 20.5% (2016 - 22.6%) of total exposure. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The following provides a detailed analysis of other exposures subject to credit risk totaling R$&amp;#160;419,933,755 thousand, representing 30.3% of the total exposure, including derivatives of R$&amp;#160;13,866,885 thousand, loans and advances to banks of R$ 32,253,205 thousand and loans and advances to clients of R$ 373,813,665 thousand.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivative Financial Instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Inst_Financeriros_Derivativos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Inst_Financeriros_Derivativos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Traded in the stock exchange&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,068,418&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;OTC contract&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,778,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,687,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;relation to derivatives, 99.4% of the total, refers basically to over-the-counter contracts, stock exchange depositories. &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Of the total of the Derivative financial instruments, 93.0% is assessed to have &quot;low credit risk&quot;&lt;/font&gt;&lt;i&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;by the Organization&amp;#39;s internal procedures.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923290&quot; /&gt;&lt;a name=&quot;_Toc474919341&quot; /&gt;&lt;a name=&quot;_Toc415565868&quot; /&gt;&lt;a name=&quot;_Toc415499847&quot; /&gt;&lt;a name=&quot;_Toc415498682&quot; /&gt;&lt;a name=&quot;_Toc415498558&quot; /&gt;&lt;a name=&quot;_Toc415498329&quot; /&gt;&lt;a name=&quot;_Toc413337857&quot; /&gt;&lt;a name=&quot;_Toc412626189&quot; /&gt;&lt;a name=&quot;_Toc381783369&quot; /&gt;&lt;a name=&quot;_Toc379874089&quot; /&gt;&lt;a name=&quot;_Toc355707619&quot; /&gt;&lt;a name=&quot;_Toc351014000&quot; /&gt;&lt;a name=&quot;_Toc320264346&quot; /&gt;&lt;a name=&quot;_Toc318995700&quot; /&gt;&lt;a name=&quot;_Toc318995498&quot; /&gt;&lt;a name=&quot;_Toc316896284&quot; /&gt;&lt;a name=&quot;_Toc312767252&quot; /&gt;&lt;a name=&quot;_Toc289782433&quot; /&gt;&lt;a name=&quot;_Toc285698350&quot; /&gt;&lt;a name=&quot;_Toc285642831&quot; /&gt;&lt;a name=&quot;_Toc285538696&quot; /&gt;&lt;a name=&quot;_Toc285477057&quot; /&gt;&lt;a name=&quot;_Toc285472596&quot; /&gt;&lt;a name=&quot;_Toc284885061&quot; /&gt;&lt;a name=&quot;_Toc284697567&quot; /&gt;&lt;a name=&quot;_Toc279663381&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We present below the portfolio of loans and advances to banks as rated internally by the Organization:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Low risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Ratings as assigned by the Organization: Low risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Ratings AA1 - C3; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Rating C4 - D; and &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Ratings E - H.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;None of the loans and advances to banks are classified as past-due or impaired. In addition, the portfolio has no debt-restructuring history.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923291&quot; /&gt;&lt;a name=&quot;_Toc474919342&quot; /&gt;&lt;a name=&quot;_Toc415565869&quot; /&gt;&lt;a name=&quot;_Toc415499848&quot; /&gt;&lt;a name=&quot;_Toc415498683&quot; /&gt;&lt;a name=&quot;_Toc415498559&quot; /&gt;&lt;a name=&quot;_Toc415498330&quot; /&gt;&lt;a name=&quot;_Toc413337858&quot; /&gt;&lt;a name=&quot;_Toc412626190&quot; /&gt;&lt;a name=&quot;_Toc381783370&quot; /&gt;&lt;a name=&quot;_Toc379874090&quot; /&gt;&lt;a name=&quot;_Toc355707620&quot; /&gt;&lt;a name=&quot;_Toc351014001&quot; /&gt;&lt;a name=&quot;_Toc320264347&quot; /&gt;&lt;a name=&quot;_Toc318995701&quot; /&gt;&lt;a name=&quot;_Toc318995499&quot; /&gt;&lt;a name=&quot;_Toc316896285&quot; /&gt;&lt;a name=&quot;_Toc312767253&quot; /&gt;&lt;a name=&quot;_Toc289782434&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The loans and advances to customers are classified as:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Neither past due nor impaired.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Past due but not impaired.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impaired, including loans and advances classified as impaired and loans and advances that are analyzed individually for loss classified as impaired.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s loans and advances to customers are classified as &amp;#8220;impaired&amp;#8221; when they fall in at least one of the following situations: (a) are delinquent more than 90 days, except for housing loan operations secured by residential property (overdue more than 180 days) and/or; (b) have incurred a loss and/or; (c) have been renegotiated and/or; (d) have been reclassified as a higher risk level; and/or (e) have been subject to bankruptcy events. The internal models used by the Organization are based on client or product.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Neither past due nor impaired (i)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;321,595,918&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,337,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due but not impaired (ii)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,684,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,612,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impaired (iii)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The portfolio of loans and advances to customers presented a reduction of 4.7% from 2017 to December 2016.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;&quot;&gt;&lt;a name=&quot;_Toc284697568&quot; /&gt;&lt;a name=&quot;_Toc474923292&quot; /&gt;&lt;a name=&quot;_Toc474919343&quot; /&gt;&lt;a name=&quot;_Toc415565870&quot; /&gt;&lt;a name=&quot;_Toc415499849&quot; /&gt;&lt;a name=&quot;_Toc415498684&quot; /&gt;&lt;a name=&quot;_Toc415498560&quot; /&gt;&lt;a name=&quot;_Toc415498331&quot; /&gt;&lt;a name=&quot;_Toc413337859&quot; /&gt;&lt;a name=&quot;_Toc412626191&quot; /&gt;&lt;a name=&quot;_Toc381783371&quot; /&gt;&lt;a name=&quot;_Toc379874091&quot; /&gt;&lt;a name=&quot;_Toc355707621&quot; /&gt;&lt;a name=&quot;_Toc351014002&quot; /&gt;&lt;a name=&quot;_Toc320264348&quot; /&gt;&lt;a name=&quot;_Toc318995702&quot; /&gt;&lt;a name=&quot;_Toc318995500&quot; /&gt;&lt;a name=&quot;_Toc316896287&quot; /&gt;&lt;a name=&quot;_Toc312767254&quot; /&gt;&lt;a name=&quot;_Toc289782435&quot; /&gt;&lt;a name=&quot;_Toc285698351&quot; /&gt;&lt;a name=&quot;_Toc285642832&quot; /&gt;&lt;a name=&quot;_Toc285538697&quot; /&gt;&lt;a name=&quot;_Toc285477058&quot; /&gt;&lt;a name=&quot;_Toc285472597&quot; /&gt;&lt;a name=&quot;_Toc284885062&quot; /&gt;&lt;a name=&quot;_Toc316896286&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers neither past due nor impaired &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Low risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,535,667&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;325,170,838&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,895,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,269,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,164,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;321,595,918&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,337,152&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Ratings as assigned by the Organization: Low risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Ratings AA1 - C3; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Rating C4 - D; and &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;: Ratings E - H.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The loans and advances to customers assessed to be neither past due nor impaired totaled R$ 321,595,918 thousand in &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;2017&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Of the total transactions, &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;96.2&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;% were classified as low risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;&quot;&gt;&lt;a name=&quot;_Toc474923293&quot; /&gt;&lt;a name=&quot;_Toc474919344&quot; /&gt;&lt;a name=&quot;_Toc415565871&quot; /&gt;&lt;a name=&quot;_Toc415499850&quot; /&gt;&lt;a name=&quot;_Toc415498685&quot; /&gt;&lt;a name=&quot;_Toc415498561&quot; /&gt;&lt;a name=&quot;_Toc415498332&quot; /&gt;&lt;a name=&quot;_Toc413337860&quot; /&gt;&lt;a name=&quot;_Toc412626192&quot; /&gt;&lt;a name=&quot;_Toc381783372&quot; /&gt;&lt;a name=&quot;_Toc379874092&quot; /&gt;&lt;a name=&quot;_Toc355707622&quot; /&gt;&lt;a name=&quot;_Toc351014003&quot; /&gt;&lt;a name=&quot;_Toc320264349&quot; /&gt;&lt;a name=&quot;_Toc318995703&quot; /&gt;&lt;a name=&quot;_Toc318995501&quot; /&gt;&lt;a name=&quot;_Toc316896288&quot; /&gt;&lt;a name=&quot;_Toc312767255&quot; /&gt;&lt;a name=&quot;_Toc289782436&quot; /&gt;&lt;a name=&quot;_Toc285698352&quot; /&gt;&lt;a name=&quot;_Toc285642833&quot; /&gt;&lt;a name=&quot;_Toc285538698&quot; /&gt;&lt;a name=&quot;_Toc285477059&quot; /&gt;&lt;a name=&quot;_Toc285472598&quot; /&gt;&lt;a name=&quot;_Toc284885063&quot; /&gt;&lt;a name=&quot;_Toc284697569&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers past due but not impaired &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We present below the analysis by number of days past due of the contracts for loans and advances which were not classified as being impaired in the collective analysis and those which are not impaired based on the individual analysis. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the purpose of this analysis, an asset is considered past due and included in the following table when payment is late or is not received strictly in accordance with the contractual terms. The amount included in this category comprises the total financial asset, i.e. not only the overdue installment amount but the full contractual amount plus accrued interest.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The loans and advances to customers which are not individually material, which have not been classified as impaired are presented in this category.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The individually material loans and advances may be presented in this category when, based on the individual analysis, it is not necessary to record an individual impairment loss and, accordingly, the asset is then subject to a collective loss analysis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Vencidos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Vencidos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due up to 60 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,177,461&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,737,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due between 61 and 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,302,186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,608,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due for more than 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;204,667&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,684,314&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,612,906&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The above table shows loans and advances, which despite being past due, do not provide indications of possible impairment. This amount represented 2.9% of the portfolio in 2017 (2016 - 3.2%).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;&quot;&gt;&lt;a name=&quot;_Toc474923294&quot; /&gt;&lt;a name=&quot;_Toc474919345&quot; /&gt;&lt;a name=&quot;_Toc415565872&quot; /&gt;&lt;a name=&quot;_Toc415499851&quot; /&gt;&lt;a name=&quot;_Toc415498686&quot; /&gt;&lt;a name=&quot;_Toc415498562&quot; /&gt;&lt;a name=&quot;_Toc415498333&quot; /&gt;&lt;a name=&quot;_Toc413337861&quot; /&gt;&lt;a name=&quot;_Toc412626193&quot; /&gt;&lt;a name=&quot;_Toc381783373&quot; /&gt;&lt;a name=&quot;_Toc379874093&quot; /&gt;&lt;a name=&quot;_Toc355707623&quot; /&gt;&lt;a name=&quot;_Toc351014004&quot; /&gt;&lt;a name=&quot;_Toc320264350&quot; /&gt;&lt;a name=&quot;_Toc318995704&quot; /&gt;&lt;a name=&quot;_Toc318995502&quot; /&gt;&lt;a name=&quot;_Toc316896290&quot; /&gt;&lt;a name=&quot;_Toc312767256&quot; /&gt;&lt;a name=&quot;_Toc289782437&quot; /&gt;&lt;a name=&quot;_Toc285698353&quot; /&gt;&lt;a name=&quot;_Toc285642834&quot; /&gt;&lt;a name=&quot;_Toc285538699&quot; /&gt;&lt;a name=&quot;_Toc285477060&quot; /&gt;&lt;a name=&quot;_Toc285472599&quot; /&gt;&lt;a name=&quot;_Toc284885064&quot; /&gt;&lt;a name=&quot;_Toc284697570&quot; /&gt;&lt;a name=&quot;_Toc316896289&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;(iii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers impaired&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Portfolio not yet due&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,342,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,567,703&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due up to 60 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,915,081&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,067,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due between 61 and 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,279,795&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,284,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due for more than 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,996,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,214,755&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to customers impaired reached R$ 41,533,433 thousand and accounted for 11.1% of the total portfolio in 2017 (2016 - 10.7%). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923295&quot; /&gt;&lt;a name=&quot;_Toc474919346&quot; /&gt;&lt;a name=&quot;_Toc415565873&quot; /&gt;&lt;a name=&quot;_Toc415499852&quot; /&gt;&lt;a name=&quot;_Toc415498687&quot; /&gt;&lt;a name=&quot;_Toc415498563&quot; /&gt;&lt;a name=&quot;_Toc415498334&quot; /&gt;&lt;a name=&quot;_Toc413337862&quot; /&gt;&lt;a name=&quot;_Toc412626194&quot; /&gt;&lt;a name=&quot;_Toc381783374&quot; /&gt;&lt;a name=&quot;_Toc379874094&quot; /&gt;&lt;a name=&quot;_Toc355707624&quot; /&gt;&lt;a name=&quot;_Toc351014005&quot; /&gt;&lt;a name=&quot;_Toc320264351&quot; /&gt;&lt;a name=&quot;_Toc318995705&quot; /&gt;&lt;a name=&quot;_Toc318995503&quot; /&gt;&lt;a name=&quot;_Toc316896291&quot; /&gt;&lt;a name=&quot;_Toc312767257&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;By type of loan category&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The following table presents the loans and advances impaired by category:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Por_Modalidade&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc285698354&quot; /&gt;&lt;a name=&quot;_Toc285642835&quot; /&gt;&lt;a name=&quot;_Toc285538700&quot; /&gt;&lt;a name=&quot;_Toc285477061&quot; /&gt;&lt;a name=&quot;_Toc285472600&quot; /&gt;&lt;a name=&quot;_Toc284885065&quot; /&gt;&lt;a name=&quot;_Toc284697571&quot; /&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Por_Modalidade&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,158,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,962,131&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Working capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,052,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,940,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personal credit&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,632,789&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,951,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Housing loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,071,447&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,553,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financing and export&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,770,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,456,658&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicles - CDC (Direct consumer credit)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,333,748&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,651,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rural loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;946,282&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending BNDES/Finame&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;780,985&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,052,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for individuals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;638,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;882,992&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisition of assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;295,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;459,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for corporates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;406,296&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,559,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,869,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923296&quot; /&gt;&lt;a name=&quot;_Toc474919347&quot; /&gt;&lt;a name=&quot;_Toc415565874&quot; /&gt;&lt;a name=&quot;_Toc415499853&quot; /&gt;&lt;a name=&quot;_Toc415498688&quot; /&gt;&lt;a name=&quot;_Toc415498564&quot; /&gt;&lt;a name=&quot;_Toc415498335&quot; /&gt;&lt;a name=&quot;_Toc413337863&quot; /&gt;&lt;a name=&quot;_Toc412626195&quot; /&gt;&lt;a name=&quot;_Toc381783375&quot; /&gt;&lt;a name=&quot;_Toc379874095&quot; /&gt;&lt;a name=&quot;_Toc355707625&quot; /&gt;&lt;a name=&quot;_Toc351014006&quot; /&gt;&lt;a name=&quot;_Toc320264352&quot; /&gt;&lt;a name=&quot;_Toc318995706&quot; /&gt;&lt;a name=&quot;_Toc318995504&quot; /&gt;&lt;a name=&quot;_Toc316896292&quot; /&gt;&lt;a name=&quot;_Toc312767258&quot; /&gt;&lt;a name=&quot;_Toc289782438&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Renegotiated loans and advances &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The total balance of &amp;#8220;Loans and advances to customers impaired&amp;#8221; includes renegotiated loans and advances to customers. Such loans contemplate extension of loan payment terms, grace periods, reductions in interest rates, and/or, in some cases, the forgiveness (write-off) of part of the loan principal amount. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Renegotiations may occur after debts are past due or when the Company has information about a significant deterioration in the client&amp;#39;s creditworthiness. The purpose of such renegotiations is to adapt the loan to reflect the client&amp;#39;s actual payment capacity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The following table shows changes made and our analysis of our portfolio of renegotiated loans and advances to customers:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Renegociados&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Renegociados&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Opening balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,501,423&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,728,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional renegotiated amounts, including interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,185,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,777,814&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments received&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,108,040)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,997,802)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,395,377)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,007,312)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Closing balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,183,869&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,501,423&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,853,777)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,346,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances to customers, net of impairment at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,330,092&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,155,026&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances as a percentage of the total loan portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;At the time a loan is modified, Management considers the new loan&amp;#39;s conditions and renegotiated maturity and it is no longer considered past due. From the date of modification, renegotiated interest begins to accrue, using the effective interest rate method, taking into consideration the customer&amp;#39;s capacity to pay the loan based on the analysis made by Management. If the customer fails to maintain the new negotiated terms, management considers ceasing accrual from that point.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Additionally, any balances related to renegotiated loans and advances to customers that have already been written off and recorded in off-balance sheet accounts, as well as any gains from renegotiations, are recognized only when received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc285698355&quot; /&gt;&lt;a name=&quot;_Toc285642836&quot; /&gt;&lt;a name=&quot;_Toc285538701&quot; /&gt;&lt;a name=&quot;_Toc285477062&quot; /&gt;&lt;a name=&quot;_Toc285472601&quot; /&gt;&lt;a name=&quot;_Toc284885066&quot; /&gt;&lt;a name=&quot;_Toc284697572&quot; /&gt;&lt;a name=&quot;_Toc279663382&quot; /&gt;&lt;a name=&quot;_Toc474923297&quot; /&gt;&lt;a name=&quot;_Toc474919348&quot; /&gt;&lt;a name=&quot;_Toc415565875&quot; /&gt;&lt;a name=&quot;_Toc415499854&quot; /&gt;&lt;a name=&quot;_Toc415498689&quot; /&gt;&lt;a name=&quot;_Toc415498565&quot; /&gt;&lt;a name=&quot;_Toc415498336&quot; /&gt;&lt;a name=&quot;_Toc413337864&quot; /&gt;&lt;a name=&quot;_Toc412626196&quot; /&gt;&lt;a name=&quot;_Toc381783376&quot; /&gt;&lt;a name=&quot;_Toc379874096&quot; /&gt;&lt;a name=&quot;_Toc355707626&quot; /&gt;&lt;a name=&quot;_Toc351014007&quot; /&gt;&lt;a name=&quot;_Toc320264353&quot; /&gt;&lt;a name=&quot;_Toc318995707&quot; /&gt;&lt;a name=&quot;_Toc318995505&quot; /&gt;&lt;a name=&quot;_Toc316896293&quot; /&gt;&lt;a name=&quot;_Toc312767259&quot; /&gt;&lt;a name=&quot;_Toc289782439&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Concentration of credit risk in loans and advances &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Concen_de_Risco_Cred&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Concen_de_Risco_Cred&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Largest borrower&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;a name=&quot;_Toc285698357&quot; /&gt;&lt;a name=&quot;_Toc285642838&quot; /&gt;&lt;a name=&quot;_Toc285538703&quot; /&gt;&lt;a name=&quot;_Toc285477064&quot; /&gt;&lt;a name=&quot;_Toc285472603&quot; /&gt;&lt;a name=&quot;_Toc284885068&quot; /&gt;&lt;a name=&quot;_Toc284697574&quot; /&gt;&lt;a name=&quot;_Toc312767260&quot; /&gt;&lt;a name=&quot;_Toc289782441&quot; /&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc474923298&quot; /&gt;&lt;a name=&quot;_Toc474919349&quot; /&gt;&lt;a name=&quot;_Toc415565876&quot; /&gt;&lt;a name=&quot;_Toc415499855&quot; /&gt;&lt;a name=&quot;_Toc415498690&quot; /&gt;&lt;a name=&quot;_Toc415498566&quot; /&gt;&lt;a name=&quot;_Toc415498337&quot; /&gt;&lt;a name=&quot;_Toc413337865&quot; /&gt;&lt;a name=&quot;_Toc412626197&quot; /&gt;&lt;a name=&quot;_Toc381783377&quot; /&gt;&lt;a name=&quot;_Toc379874097&quot; /&gt;&lt;a name=&quot;_Toc355707627&quot; /&gt;&lt;a name=&quot;_Toc351014008&quot; /&gt;&lt;a name=&quot;_Toc320264354&quot; /&gt;&lt;a name=&quot;_Toc318995708&quot; /&gt;&lt;a name=&quot;_Toc318995506&quot; /&gt;&lt;a name=&quot;_Toc316896294&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;By Economic Activity Sector&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit-risk concentration analysis presented below is based on the economic activity sector in which the counterpart operates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Setor_Atividade&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Setor_Atividade&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 - R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Public sector&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,676,927&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.6&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,813,581&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Oil, derivatives and aggregate activities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,410,382&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.5&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,813,581&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Production and distribution of electricity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other industries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;265,223&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Private sector&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;364,136,738&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97.4&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;383,270,292&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97.8&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,148,345&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.9&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;212,344,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54.2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate and construction activities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,383,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,888,418&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,935,638&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,346,471&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6.5&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,996,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,172,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation and concession&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,190,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,044,780&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Automotive&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,014,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,148,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Food products&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,866,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,870,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Wholesale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,045,916&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,704,646&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Production and distribution of electricity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,360,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.0&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,255,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Siderurgy and metallurgy&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,001,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,800,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.0&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sugar and alcohol&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,042,811&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,514,693&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other industries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,311,145&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,598,603&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Individuals&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;173,988,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46.5&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,925,871&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.6&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of net loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;a name=&quot;_Toc289782442&quot; /&gt;&lt;a name=&quot;_Toc285698358&quot; /&gt;&lt;a name=&quot;_Toc285642839&quot; /&gt;&lt;a name=&quot;_Toc285538705&quot; /&gt;&lt;a name=&quot;_Toc285477066&quot; /&gt;&lt;a name=&quot;_Toc285472605&quot; /&gt;&lt;a name=&quot;_Toc284885070&quot; /&gt;&lt;a name=&quot;_Toc284697576&quot; /&gt;&lt;a name=&quot;_Toc285697866&quot; /&gt;&lt;a name=&quot;_Toc284327574&quot; /&gt;&lt;a name=&quot;_Toc284323277&quot; /&gt;&lt;a name=&quot;_Toc474923299&quot; /&gt;&lt;a name=&quot;_Toc474919350&quot; /&gt;&lt;a name=&quot;_Toc415565877&quot; /&gt;&lt;a name=&quot;_Toc415499856&quot; /&gt;&lt;a name=&quot;_Toc415498691&quot; /&gt;&lt;a name=&quot;_Toc415498567&quot; /&gt;&lt;a name=&quot;_Toc415498338&quot; /&gt;&lt;a name=&quot;_Toc413337866&quot; /&gt;&lt;a name=&quot;_Toc412626198&quot; /&gt;&lt;a name=&quot;_Toc381783378&quot; /&gt;&lt;a name=&quot;_Toc379874098&quot; /&gt;&lt;a name=&quot;_Toc355707628&quot; /&gt;&lt;a name=&quot;_Toc351014009&quot; /&gt;&lt;a name=&quot;_Toc320264355&quot; /&gt;&lt;a name=&quot;_Toc318995709&quot; /&gt;&lt;a name=&quot;_Toc318995507&quot; /&gt;&lt;a name=&quot;_Toc316896295&quot; /&gt;&lt;a name=&quot;_Toc312767261&quot; /&gt;&lt;a name=&quot;_Toc289782894&quot; /&gt;&lt;a name=&quot;_Toc289424747&quot; /&gt;&lt;a name=&quot;_Toc311210482&quot; /&gt;&lt;a name=&quot;_Toc311128378&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Measurement of Credit Risk &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Periodically, the Organization evaluates the existence of objective evidence of loss in the loans and advances portfolio, taking into account its historical experience of impairment losses and employing other methodologies to consider the customer&amp;#39; quality as well as the nature of the transaction including its guarantees for estimating the expected cash flows, which are reviewed regularly in order to constantly improve the models and to ensure that&amp;#160; the provision is sufficient.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Initially, clients are classified as individually significant and individually non-significant. Following that initial classification, clients are evaluated on the basis of the existence of evidence of one or more objective loss events. As sometimes it may not be possible to identify a specific event that has caused a loss in the recoverable amount, the combined effects of several events are evaluated. In addition, loss events may be specific, that is, refer to only a particular client, such as payment defaults, renegotiation or bankruptcy event, or be collective and affect a group of assets as a result, for example, interest or exchange rate variations or a reduction in the activity level of one or more economic sectors. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For individually significant clients with specific objective evidences of impairment, the impairment loss is estimated by individual analysis, taking into account the future cash flows expected from each client, including the realization of guarantees associated with operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For individually non-significant clients with specific objective evidence of impairment, the, impairment loss is estimated using proprietary historic loss experience models which are based on observable information on the calculation date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Clients showing no specific objective evidence of impairment losses, both individually significant and individually non-significant clients, are evaluated collectively using the Organization&amp;#39;s internal models based on collective parameters of loss identified and macroeconomic parameters of economic activity and default.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For collective evaluation, Probability of Default and Loss Given Default models, as well as the Loss Identification Period factor, are used.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Probability of Default (PD): determines the probability of default perceived by the Organization with respect to the customer, according to its internal evaluation model. This risk parameter is determined differently for each segment: retail models are quantitative, while wholesale models are both quantitative and qualitative (subjective).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loss Given Default (LGD): refers to the percentage effectively lost after recovery efforts given the default of the contract, which is expressed as a percentage of exposure. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loss Identification Period (LIP): interim period between the occurrence of the loss event in groups of collectively evaluated financial assets, significant and non significant, and its identification by the institution as being impaired. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Write-offs&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credits are written off in the consolidated statement of financial position against impairment of loans and advances when they are considered uncollectible or a permanent loss. Loans and advances to banks &amp;#160;are normally written off when they are overdue for 180 to 360 days. Loans and advances to banks with remaining maturities of at least 36 months are normally written off when they are overdue for 360 to 540 days.&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit Risk Mitigation&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Potential credit losses are mitigated by the use of a variety of types of collateral formally stipulated through legal instruments, such as conditional sales, liens and mortgages, by guarantees such as third-party sureties or guarantees, and also by financial instruments such as credit derivatives. The efficiency of these instruments is evaluated considering the time to recover and realize an asset given as collateral, its market value, the guarantors&amp;#39; counterparty risk and the legal safety of the agreements. The main types of collaterals include: term deposits; financial investments and securities; residential and commercial properties; movable properties such as vehicles, aircraft. Additionally, collateral may include commercial bonds such as invoices, checks and credit card bills. Sureties and guarantees may also include bank guarantees.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit derivatives are bilateral contracts in which one of the counterparties buys protection against a credit risk of a particular financial instrument and its risk is transferred to the counterparty that sells the protection. Normally, it receives a remuneration over the life of the operation. In the event of default by the borrower, the counterparty who purchased the protection will receive a payment, the purpose of which is to compensate for the loss of value in the financial instrument. In this case, the selling counterparty receives the underlying asset in exchange for said payment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On December 31, 2017, Bradesco had credit default swaps (CDS) with the following characteristics: the risk received in credit swaps whose underlying assets are &amp;#8220;debt securities issued by companies&quot; in the amount of R$ 468,214 thousand (R$ 114,069 thousand in 2016) and &amp;#8220;bonds of the Brazilian public debt&amp;#8221; in the amount of R$ 116,773 thousand (R$ 668,115 thousand in 2016) and in 2016 the risk transferred in credit swaps whose underlying assets are &amp;#8220;securities the Brazilian public debt&amp;#8221; was R$ (16,296) thousand, amounting to a total net credit risk value of negative R$&amp;#160;584,987 thousand (R$ 765,888 thousand in 2016), with an effect on the calculation of required shareholders&amp;#39; equity of negative R$ 49,162 thousand (R$ 11,977 thousand in 2016). The contracts related to credit derivatives transactions described above are due in 2022. The mark-to-market of the protection rates that remunerates the counterparty that received the risk totaled R$ 195 thousand (R$ (1,067) thousand in 2016). There were no credit events, as defined in the agreements, during the period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Offsetting of financial assets and liabilities &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In accordance with IFRS 7, Bradesco must present the amounts related to financial instruments subject to master clearing agreements or similar agreements. In accordance with IAS 32, a financial asset and a financial liability are offset and their net value presented in the Consolidated Balance Sheet when, and only when, there is a legally enforceable right to offset the amounts recognized and the Bank intends to settle them in a liquid basis, or to realize the asset and settle the liability simultaneously.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The table below presents financial assets and liabilities subject to compensation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:559.500000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; rowspan=&quot;3&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial assets, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount offset in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial liabilities, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount offset in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial assets, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount not cleared in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial liabilities, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount not cleared in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;49%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;15%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;14%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;14%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;On December 31, 2017 and 2016, Bradesco does not have financial instruments in its balance sheet as a result of failing to meet the IAS 32 compensation criteria, or because it has no intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-.3in;&quot;&gt;&lt;a name=&quot;_Toc474923300&quot; /&gt;&lt;a name=&quot;_Toc282513944&quot; /&gt;&lt;a name=&quot;_Toc318995508&quot; /&gt;&lt;a name=&quot;_Toc318995710&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.2.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;Market risk&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market risk is represented by the possibility of financial loss due to fluctuating prices and interest rates of the Organization&amp;#39;s financial instruments, such as its asset and liability transactions that may have mismatched maturities, currencies and indexes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market risk is identified, measured, mitigated, controlled and reported. The Organization&amp;#39;s exposure to market risk profile is in line with the guidelines established by the governance process, with limits independently monitored on a timely basis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All transactions that expose the Organization to market risk are mapped, measured and classified according to probability and magnitude, and the whole process is approved by the governance structure.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk management process relies on the participation of all levels of the Organization, from the business areas to the Board of Directors.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In compliance with the best Corporate Governance practices, to preserve and strengthen the management of market risk in the Organization, as well as to meet the requirements of Resolution &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 4,557/17, of (CMN), the Board of Directors approved the Market and Liquidity Risk Management Policy, which is reviewed at least annually by the relevant Committees and by the Board of Directors itself, and provides the main guidelines for acceptance, control and management of market risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition to the policy, the Organization has specific rules to regulate the market risk management process, as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Classification of Operations;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reclassification of Operations;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Trading of Public or Private Securities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Use of Derivatives; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Hedging.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513945&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market Risk Management Process&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The market risk management process is a corporation wide process, comprising from business areas to the Board of Directors; it involves various areas, each with specific duties in the process, thereby ensuring an efficient structure. The measurement and control of market risk is conducted in a centralized and independent manner. This process permits that the Organization be the first financial institution in the country authorized by the Central Bank of Brazil to use its internal market risk models to calculate regulatory capital requirements since January 2013. This process, is also revised at least once a year by the Committees and approved the Board itself.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513946&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Determination of Limits&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Proposed market-risk limits are validated by specific Committees and submitted for approval by the Integrated Risk Management and Capital Allocation Committee, and then for approval by the Board of Directors. Based on the business&amp;#39; characteristics, they are segregated into the following Portfolios:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Trading Portfolio&lt;/font&gt;&lt;/u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;: it comprises all operations involving financial instruments, held-for-trading, including derivatives, or used to hedge other instruments in the Trading Portfolio, which have no trading restrictions. Held-for-trading operations are those intended for resale, to obtain benefits from actual or expected price variations, or for arbitrage.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Trading Portfolio is monitored with the following limits:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Value at Risk (VaR);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Stress;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial Exposure / Concentration.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Banking Portfolio&lt;/font&gt;&lt;/u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;: it comprises operations not classified in the Trading Portfolio&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;, arising from Organization&amp;#39;s other businesses and their respective hedges.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Banking Portfolio is monitored with the following limits:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest rate risk limit.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513947&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market-Risk Measurement Models&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market risk is measured and controlled using Stress, Value at Risk (VaR), Economic Value Equity (EVE) and Sensitivity Analysis methodologies, as well as limits for the Management of Results and Financial Exposure. Using several methodologies to measure and evaluate risks is of great importance, because they can complement each other and their combination allows for analysis of different scenarios and situations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513948&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Trading and Regulatory Portfolio &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Trading Portfolio risks are controlled by the Stress and VaR methodologies. The Stress methodology quantifies the negative impact of economic shocks and events that are financially unfavorable to the Organization&amp;#39;s positions. The analysis uses stress scenarios prepared by the Market Risk area and the Organization&amp;#39;s economists based on historical and prospective data for the risk factors in which the Organization portfolio.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The methodology adopted to calculate VaR is the Delta-Normal, with a confidence level of 99% and considering the number of days necessary to unwind the existing exposures. The methodology is applied to the Trading and Regulatory Portfolio (Trading Portfolio positions plus Banking Portfolio foreign currency and commodities exposures). It should be noted that for the measurement of all the risk factors of the portfolio of options are applied the historical simulation models and Delta-Gama-Vega, prevailing the most conservative between the two.&lt;/font&gt;&lt;font color=&quot;red&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A minimum 252-business-day period is adopted to calculate volatilities, correlations and historical returns.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For regulatory purposes, the capital requirements relating to shares held in the Banking Portfolio of Prudential Conglomerate (includes, in its consolidation basis, entities located in the country and abroad, financial institutions, similar to financial institutions over which the institution has direct or indirect control, in addition to investment funds pursuant to Resolution No. 4,280/13 of CMN) are determined on a credit risk basis, as per Central Bank of Brazil resolution,&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;ie, are not included in the market risk calculation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513949&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk of Interest Rate in the Banking Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The measurement and control of the interest-rate risk in the Banking Portfolio area is based on the Economic Value of Equity (EVE) methodology, which measures the economic impact on the positions, according to scenarios prepared by the Organization&amp;#39;s economists. These scenarios determine the positive and negative movements of interest rate curves that may affect Organization&amp;#39;s investments and capital-raising.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The EVE methodology consists of repricing the portfolio exposed to interest rate risk, taking into account the scenarios of increases or decreases of rates, by calculating the impact on present value and total term of assets and liabilities. The economic value of the portfolio is estimated on the basis of market interest rates on the analysis date and of scenarios projected. The difference between the values obtained for the portfolio will be EVE, that is, the interest-rate risk applicable to the Banking Portfolio.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To measure the Banking Portfolio interest rate risk, the premise of prepayment of loan is not used. For demand and savings deposits with undetermined maturity, their historical behaviors and the possibility of maintaining them are studied. After all the deductions related to demand and savings deposits, for example, the required compulsory deposits held at Brazilian Central Bank, the remaining balance (free funds) is allocated in accordance with the maturity flows of fixed-rate lending operations, and in the case of savings, the risk factor considered for its mapping is the TR coupon.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial Instrument Pricing &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To adopt the best market prices related to the assessment of financial instruments&amp;#39; market value, the Market and Liquidity Risk Management Executive Committee (CEGRIMEL) established the Mark-to-Market Commission (CMM), which is responsible for approving or submitting mark-to-market models to GEGRIMEL. CMM is composed of business, back-office and risk representatives. The risk area is responsible for the coordination of the Commission and for the submission the matters to the CEGRIMEL for reporting or approval, whichever is the case. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Whenever possible, the Bank uses prices and quotes from by the Securities, Commodities and Futures Exchange and the Secondary Markets. Failing to find such market references, prices made available by other sources (such as Bloomberg, Reuters and Brokerage Firms) are used. As a last resort, proprietary models are used to price the instruments, which also follow the same CMM approval procedure and are submitted to the Organization&amp;#39;s validation and assessment processes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Mark-to-market criteria are periodically reviewed, according to the governance process, and may vary due to changes in market conditions, creation of new classes of instruments, establishment of new sources of data or development of models considered more appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The financial instruments to be included in the Trading Portfolio must be approved by the Treasury Executive Committee or the Product and Service Executive Committee and their pricing criteria must be defined by the CMM.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The following principles for the mark-to-market process are adopted by the Organization:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Commitment: the Organization is committed to ensuring that the prices used reflect the market value of the operations. Should information not be found, the Organization uses its best efforts to estimate the market value of the financial instruments; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Frequency: the formalized mark-to-market criteria are applied on a daily basis; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Formality: the CMM is responsible for ensuring the methodological quality and the formalization of the mark-to-market criteria; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Consistency: the process to gather and apply prices should be carried out consistently, to guarantee equal prices for the same instrument within the Organization; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transparency: the methodology must be accessible by the Internal and External Audit, Independent Model Validation Areas - AVIM and by Regulatory Agencies. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In December 2014, the (CMN) published Resolution 4,389/14, which amended Resolution 4,277/13. These resolutions set forth the basic procedures that entities must follow in pricing financial instruments valued at market value and guidelines for the application of prudential adjustments for such instruments. The organization aligned with these resolutions&amp;#39; guidelines, including applying due prudential adjustments required by the regulation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Independent Risk Model Validation &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization uses models to manage and measure risks and capital, which are developed based on specialist knowledge or on statistical, economic, financial or mathematical theories, which support and facilitate the structuring of critical issues and enable standardization and fast decision-making. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To identify, mitigate and control the risks independent of the use of the models in the decision-making process, there is the AVIM, whose main purpose is to evaluate if the models work according to the intended objectives, as well as if their results are suitable for the uses for which they are intended. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Independent Validation of Models adopts a methodology that encompasses quantitative and qualitative dimensions, evaluating the adequacy of processes, governance, the construction of models and their premises, the use and monitoring of models:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;line-height:115%;&quot;&gt;Qualitative &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Scope of the model: scope or coverage of the model, which includes its goal, the type of risk addressed, companies exposed to this type of risk, portfolios, products, segments, channels, and etc; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Application of the Model:&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;aspects of the use of the model, which includes the definition of model, the reasonability in the use of the model&amp;#39;s factors, the flow and the timeliness of the information for the decision-making process; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Technological Environment and Data Consistency: structure of systems and controls involved in the calculations performed by the model and the process in which the model is inserted. It also includes data consistency, taking into consideration the functionalities of version and access controls, backup, traceability, changes in parameters, data quality, system contingency and automated controls. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;line-height:115%;&quot;&gt;Quantitative &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Measurement System: challenge to the risk measurement procedures, both base and stress, including the definition, implementation and internal validation of the method, which consists of methodology, assumptions, parameters, calculation routine, input data and results; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Backtesting: statistic procedure used to assess the model by comparing the amounts estimated by the model and the amounts observed within a previously defined period. It includes methodological, formalization and utilization aspects for model improvement. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The responsibility for executing the independent validation process, that includes the analysis and the assessment of models, it&amp;#39;s from AVIM, which uses structures that are already implemented and settled in the Organization to avoid overlapping tasks. Its results are reported to the managers and to the Committee of Integrated Risk Management and Capital Allocation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513950&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Control and Follow-Up&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Market risk is controlled and monitored by an independent area, the DCIR, which, on a daily basis, measures the risk of outstanding positions, consolidates results and prepares reports required by the existing governance process.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition to daily reports, Trading Portfolio positions are discussed once a week by the Treasury Executive Committee, while Banking Portfolio positions and liquidity reports are examined every fifteen days by the Asset and Liability Management Treasury Executive Committee. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;At both meetings, results and risks are assessed and strategies are discussed. Both the governance process and the existing thresholds are ratified by the Integrated Risk and Capital Allocation Management Committee and submitted to approval of the Board of Directors, and they are revised at least once a year.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Should any threshold controlled by the DCIR be exceeded, the head of the business area responsible for the position is informed that threshold was reached, and the Integrated Risk and Capital Allocation Management Committee is called in timely fashion to make a decision. If the Committee decides to raise the threshold and/or maintain the positions, the Board of Directors is called to approve the new threshold or revise the position strategy.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513951&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Internal Communication&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The market risk department provides daily managerial control reports on the positions to the business areas and Senior Management, in addition to weekly reports and periodic presentations to the Board of Directors. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reporting is conducted through an alert system, which determines the addressees of risk reports as previously determined risk threshold percentage is reached; therefore, the higher the risk threshold consumption, more Senior Management members receive the reports.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513952&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Hedging and Use of Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In order to standardize the use of financial instruments as hedges of transactions and the use of derivatives by the Treasury Department, the Organization created specific rules that were approved by the competent Committees. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The hedge transactions &amp;#160;executed by Bradesco&amp;#39;s Treasury Department must necessarily cancel or mitigate risks related to unmatched quantities, terms, currencies or indexes of the positions in the Treasury books, and must use assets and derivatives authorized to be traded in each of their books to:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;control and classify the transactions , &amp;#160;respecting the exposure and risk limits in effect; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;alter, modify or revert positions due to changes in the market and to operational strategies; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;reduce or mitigate exposures to transactions &amp;#160;in inactive markets, in conditions of stress or of low liquidity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For derivatives classified in the &quot;hedge accounting&quot; category, there is a monitoring of their effectiveness, as well as their accounting implications.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash flow Hedge &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On December 31, 2017, Bradesco maintained the following cash flow hedges: (i) with the objective of protecting the cash flow of interest income from securities investments, related to the risk of DI interest rates, using DI Futures contracts at B3, amounting to R$16,030,487 thousand (2016 - R$21,502,218 thousand), to hedge DI securities, amounting to R$14,708,544 thousand (2016 - R$21,476,571 thousand), with the maturity between 2018 and 2019, making the cash flows fixed. The adjustment to the market, registered in the shareholders&amp;#39; equity, of R$40,060 thousand (2016 - R$43,190 thousand), net of tax effects was R$ 24,036 thousand (2016 - R$25,914 thousand); (ii) with the objective of protecting cash flow from interest payments on capitalizations, referring to the risk of DI interest rates by using DI Futuro contracts in B3, totaling R$6,769,979 thousand, with the object of hedge as funds referenced to the DI, amounting to R$6,671,048 thousand in terms of maturities between 2018 and 2020, making the cash flows fixed. The adjustment to market, recorded in shareholders&amp;#39; equity, of R$(84,044) thousand, net of tax effects was R$(50,426) thousand; and (iii)aiming at hedging the exchange variation on future cash flows, whose functional currency is other than Reais, using Forward contracts, in the amount of R$1,110,888 thousand, with the purpose of hedging the investment abroad denominated in MXN (Mexican Peso), in the amount of R$582,567 thousand. The mark-to-market adjustment these operations, recorded in shareholders&amp;#39; equity was R$ (59,739) thousand, net of tax effects was R$(35,843) thousand. The effectiveness of the hedge portfolio was assessed in accordance with Bacen Circular Letter No. 3,082/02.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513953&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Standardized and &amp;#8220;Continuous Use&amp;#8221; Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Organization&amp;#39;s Treasury Department may use standardized (traded on an exchange) and &amp;#8220;continuous use&amp;#8221; (traded over-the-counter) derivatives for the purpose of obtaining income or as hedges. The derivatives classified as &amp;#8220;continuous use&amp;#8221; are those habitually traded over-the-counter, such as vanilla swaps (interest rates, currencies, CDS - Credit Default Swap, among others), forward operations (currencies, for example) and vanilla options (currency, Bovespa Index), among others. Non-standardized derivatives that are not classified as &amp;#8220;continuous use&amp;#8221; or structured operations cannot be traded without the authorization of the applicable Committee.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513955&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Evolution of Exposures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In this section are presented the evolution of financial exposure, the VaR calculated using the internal &amp;#160;model and its backtesting and the Stress Analysis&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513956&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial Exposure - Trading Portfolio (Fair value)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Exp_Financeira_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc282513957&quot; /&gt;&lt;a name=&quot;IFRS_Exp_Financeira_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,614,849&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,184,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,026,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,806,553&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IGP-M (General Index of market pricing) / IPCA (Consumer price index)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,053,893&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;532,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,819&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;404,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,808,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,658,084&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;997,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;878,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,808,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,005,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,024,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;461,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;468,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;560,619&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,252&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,301,628&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;906,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;257,537&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,517&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,421&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,566,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,406,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,880,333&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,020,336&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:1.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;VaR Internal Model -Trading Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The 1-day VaR of Trading Portfolio net of tax effects in end of 2017 was R$ 14,417 thousand, with the interest rate risk as the largest participation of the portfolio. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_VaR_Modelo_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_VaR_Modelo_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,956&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IGP-M (General Index of market pricing) / IPCA (Consumer price index)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;416&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;289&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Correlation/diversification effect&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,379)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,892)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,417&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,910&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,408&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font style=&quot;height:2px;left:0px;margin-left:0px;margin-top:0px;position:absolute;width:42px;z-index:251656704;&quot;&gt;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;VaR Internal Model - Regulatory Portfolio &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The capital is calculated by the normal delta VaR model based in Regulatory Portfolio, composed by Trading Portfolio and the Foreign Exchange Exposures and the Commodities Exposure of the Banking Portfolio. In addition, the historical simulation and the Delta-Gama-Vega models of risk are applied to measure all risk factors to an options portfolio, whichever is the most conservative. In this model, risk value is extrapolated to the regulatory&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; horizon&lt;sup&gt;(&lt;a href=&quot;#_ftn1&quot; name=&quot;_ftnref1&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;/font&gt;&lt;/font&gt;&lt;/a&gt;&lt;/sup&gt;&lt;/font&gt;&lt;sup&gt;&lt;a href=&quot;#_ftn1&quot; name=&quot;_ftnref1&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;u&gt;&lt;font color=&quot;blue&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;[1]&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/font&gt;&lt;/a&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;)&lt;/font&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; (at least ten days) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;by the &amp;#8216;square root of time&amp;#39; method. VaR and Stressed VaR shown below refer to a ten-day horizon and are net of tax effects.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_VaR_Modelo_Carteira_Regulatoria&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc282513958&quot; /&gt;&lt;a name=&quot;IFRS_VaR_Modelo_Carteira_Regulatoria&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stressed&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stressed&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,231&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;149,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,300&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commodity price (Commodities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Correlation/diversification effect&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,429&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,872)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,296)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,489&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;179,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,803&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,810&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;369,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,895&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,105&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;247,814&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Note: Ten-day horizon VaR net of tax effects.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To calculate regulatory capital requirement according to the internal model, it is necessary to take into consideration the rules described by Brazilian Central Bank Circular Letters &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;n&amp;#186;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 3,646/13 and 3,674/13, such as the use of VaR and Stressed VaR net of tax effects, the average in the last 60 days and its multiplier.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;VaR Internal Model - Backtesting&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk methodology applied is continuously assessed using backtesting techniques, which compare the one-day period VaR with the hypothetic P&amp;amp;L, obtained from the same positions used in the VaR calculation, and with the effective P&amp;amp;L, also considering the intraday operations for which VaR was estimated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main purpose of backtesting is to monitor, validate and assess the adherence of the VaR model, and the number of exceptions that occurred must be compatible with the number of exception accepted by the statistical tests conducted and the confidence level established. Another objective is to improve the models used by the Organization, through analyses carried out with different observation periods and confidence levels, both for Total VaR and for each risk factor. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Daily hypothetical and effective P&amp;amp;L over the last 250 business days surpassed their respective VaR only once, with a confidence level of 99%.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;According to the document published by the Basel Committee on Banking Supervision&lt;sup&gt;(&lt;/sup&gt;&lt;/font&gt;&lt;sup&gt;&lt;a href=&quot;#_ftn2&quot; name=&quot;_ftnref2&quot;&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;blue&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;[2]&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;/a&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;)&lt;/font&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;, exceptions are classified as being due to &amp;#8220;either bad luck or the markets did not behave as expected by the model&amp;#8221;, i.e. volatility was significantly higher than expected and, in certain situations, the correlations differed from those forecast by the model.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513959&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Stress Analysis - Trading Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization also assesses on a daily basis, the possible impacts on positions in stress scenarios for the next 20 business days, with limits established in the governance process. Thus, considering the effect of diversification between the risk factors and the tax effects, the average of the possible loss estimates in a stress situation would be R$ 168,751&amp;#160;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; in 2017 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(2016 - R$&amp;#160;198,274 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;, and the maximum estimated loss in the year of 2017 would be R$ 387,884 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(2016 - R$ 371,395 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Estresse_Carteira_Trading&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Estresse_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;338,004&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;387,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;371,395&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.4pt;margin-right:0in;margin-top:3.0pt;text-indent:7.15pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;Note: Values net of tax effects.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity Analysis&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Trading Portfolio is also monitored daily by sensitivity analyses that measure the effect of movements of market and price curves on our positions. Furthermore, a sensitivity analysis of the Organization&amp;#39;s financial exposures (Trading and Banking Portfolio) is performed on a quarterly basis, in compliance with CVM Rule n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 475/08.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The sensitivity analyses were carried out based on the scenarios prepared for the respective dates, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 1: &amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.17 was used, while for a 1-year fixed interest rate of 6.90%, a scenario of 6.91% &amp;#160;was applied;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 2: &amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;25.0% stresses were determined based on market information. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.93 was used, while for a 1-year fixed interest rate of 6.90%, a 8.62% scenario was applied. The scenarios for other risk factors also accounted for 25% stresses in the respective curves or prices; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 3: &amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;50.0% stresses were determined based on market information. For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also account for 50.0% stresses in the respective curves or prices.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The results show the impact for each scenario on a static portfolio position. The dynamism of the market and portfolios means that these positions change continuously and do not necessarily reflect the position demonstrated here. In addition, the Organization has a continuous market risk management process, which is always searching for ways to mitigate the associated risks, according to the strategy determined by Management Therefore, in cases of deterioration indicators in a certain position, proactive measures are taken to minimize any potential negative impact, aimed at maximizing the risk/return ratio for the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div style=&quot;page:WordSection4;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity Analysis - Trading Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;6&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading Portfolio (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in fixed interest rates and interest rate coupons&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(359)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(61,497)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(120,385)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,074)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(293,350)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(568,367)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in price index coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,576)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(33,298)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,723)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,174)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in foreign currency coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(437)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to exchange rate variations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,629)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,736)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(81,473)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(106)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,649)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,297)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variation in stock prices&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,215)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,378)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(60,757)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in the interest rate of securities traded on the international market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,469)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(61,730)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(123,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,464)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,649)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,751)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure not classified in other definitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(39)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total excluding correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,828)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,337)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420,213)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,672)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(311,614)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(606,065)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total including correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,448)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(131,662)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(259,684)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,058)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(295,900)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(574,058)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Presented below, the Sensitivity Analysis - Trading and Banking Portfolio.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity Analysis - Trading and Banking Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Cart_Trading_Banking&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;6&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Cart_Trading_Banking&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading and Banking Portfolios (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in fixed interest rates and interest rate coupons&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,339,939)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,560,181)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,994)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,466,388)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,786,687)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in price index coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(512)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,130)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(107,716)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,255)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,224,208)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,264,187)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in foreign currency coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,575)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(80,110)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(158,548)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(455)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49,446)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(93,726)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to exchange rate variations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(600)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,004)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,008)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(867)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,663)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(43,327)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variation in stock prices&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,289)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(407,237)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(814,475)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,817)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(370,420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(740,841)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in the interest rate of securities traded on the international market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,978)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(205,764)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(406,054)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,786)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,940)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure not classified in other definitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(307)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(613)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(55)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total excluding correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,545)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,104,491)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,077,595)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,175)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,148,093)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,961,624)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total including correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,678,101)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,232,466)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,893)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,691,157)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,090,253)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/div&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc282513962&quot; /&gt;&lt;a name=&quot;_Toc474923301&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.3.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;Liquidity risk &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Liquidity Risk is represented by the possibility of the institution not being able to efficiently meet its obligations, without affecting its daily operations and incurring significant losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The understanding and monitoring of this risk are crucial to enable the Organization to settle operations in a timely manner. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513963&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Management Process for Liquidity Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The management of liquidity risk is a group-wide process. This process involves several areas with specific responsibilities. The measurement and control of liquidity risk are conducted in a centralized and independent manner, including the daily monitoring of available funds, the compliance with the liquidity level according to the risk appetite defined by the board,&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;as well as&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the contingency plan and recovery for possible stress situations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has a Liquidity Risk Management Policy approved by the Board of Directors, which has as one of its objectives to ensure the existence of norms, criteria and procedures for the correct monitoring of this type of risk, as well as the existence of a strategy and of action plans for liquidity crisis situations. The policy and controls established fully comply with the provisions of CMN Resolution 4,557/17.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Control and Monitoring&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Liquidity risk management is carried out by the Treasury Department, based on the positions available, by independent area. The DCIR is responsible for the measurement methodology, control of the limits established by type of currency and company (including non-financial), review of policies, standards, criteria and procedures and studies for new recommendations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Liquidity risk is monitored daily by the business and control areas and at the meetings of the Treasury Asset and Liability Management Executive Committee, which manages liquidity reserves, with term and currency mismatches. Monitoring is also handled by the Integrated Risk and Capital Allocation Management Committee and the Board of Directors.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Since October, 2017, the Organization adopted as its main metric also for internal management, Short-Term Liquidity indicator (LCR), as provided by CMN Resolution 4,401/15 of CBB Circular Letter 3,749/16.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;LCR - Liquidity Coverage Ratio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Liquidity Coverage Ratio (LCR) is designed to ensure that the Organization maintains a sufficient level of liquid assets to cover liquidity needs in an eventual stress scenario. The LCR is the ratio between the stock of High Quality Liquid Assets (HQLA) and total net cash outflow, calculated based on a generic stress scenario. The formula below shows the main components of the indicator:&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;461&quot; style=&quot;border-collapse:collapse;margin-left:93.5pt;width:380.799988pt;&quot;&gt; &lt;tr style=&quot;height:15.0pt;&quot;&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;19%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;24%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;10%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;26%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;21%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.75pt;&quot;&gt; &lt;td nowrap=&quot;nowrap&quot; rowspan=&quot;2&quot; width=&quot;19%&quot; style=&quot;background:#D9D9D9;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;LCR =&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;60%&quot; style=&quot;background:#D9D9D9;border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;HQLA&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; rowspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#D9D9D9;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#8805; % Required&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.0pt;&quot;&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;24%&quot; style=&quot;background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Cash Outflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;10%&quot; style=&quot;background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;-&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;26%&quot; style=&quot;background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Cash Inflows*&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.0pt;&quot;&gt; &lt;td colspan=&quot;3&quot; nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;53%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;*Limited to 75% of outflows&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;26%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; width=&quot;21%&quot; style=&quot;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In accordance with the LCR implantation schedule, the level of the ratio between HQLA and total net cash outflows must comply with the following schedule:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:42.55pt;width:439.250000pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;As of 2019&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;% Required&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513964&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The stress scenarios parameterization was conducted by the Brazilian Central Bank to capture idiosyncratic and market shocks, considering the period of thirty days. The items below show some of the shocks included in the methodology: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#8226; the partial loss of retail and uncollateralized wholesale funding, as well as short-term funding capacity; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#8226; the additional outflow of funds, contractually foreseen, due to the downgrading of the institution&amp;#39;s credit rating by up to three levels, including eventual additional collateral requirements; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#8226; an increase in the volatility of factors that impact collateral quality or the potential future exposure of derivative positions, resulting in the application of larger collateral discounts or a call for additional collateral or in other liquidity requirements; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#8226; withdrawals of higher than expected amounts from credit/liquidity lines granted; and &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#8226; the potential need to repurchase debt or honor non-contractual obligations in order to mitigate reputational risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;High Quality Liquid Assets (HQLA) &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;HQLA are assets that maintain their market liquidity in periods of stress and that meet the minimum requirements established by the Brazilian Central Bank, such as, among others, being free of any legal impediment or restriction; suffering little or no loss in market value when converted into cash; having a low credit risk; easy and accurate pricing; and being traded in an active and important market, with little difference between the purchase and sale price, high traded volume and a large number of participants. These assets are subject to weighting factors which may reduce their value, for example in accordance with the risk rating of their issuer or the historic variation in their market price, among other requirements. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Verdana,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash Outflows and Inflows &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash outflows are the result of a reduction in deposits and funding; the maturity of securities issued; scheduled contractual obligations for the next 30 days; margin adjustments and calls in derivative operations; the utilization/withdrawal of credit and liquidity lines granted by the Bank; and contingent cash outflows. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash inflows for the next thirty days correspond to the expected receipt of loans and financings; deposits; securities; and margin adjustments and easing in derivative operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below shows the average LCR Prudential Conglomerate:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;100%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;100%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Information on the Liquidity Coverage Ratio (LCR)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;25%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;25%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average Amount (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted Average Amount (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average Amount (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted Average Amount (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High Quality Liquid Assets (HQLA)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total High Quality Liquid Assets (HQLA)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,596,242&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,652,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash Outlows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail funding:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;210,005,411&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,749,477&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,352,566&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,702,571&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stable funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,661,528&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,783,076&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;140,847,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,225,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Less stable funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,343,883&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,966,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,504,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,477,135&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-collateralized wholesale funding:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;112,474,083&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,716,519&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,652,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,853,687&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Operating deposits (all counterparties) and affiliated cooperative deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,152,936&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;407,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,226,398&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;192,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-operating deposits (all counterparties)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,275,838&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,263,563&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,809,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,044,388&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other non-collateralized wholesale funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,045,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,045,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;616,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;616,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collateralized wholesale funding&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,656,909&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,808,725&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional requirements:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,751,894&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,746,422&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,952,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,328,908&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to exposure to derivatives and other collateral requirements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,192,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,089,564&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,283,688&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,017,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to funding losses through the issue of debt instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;345,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;345,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to lines of credit and liquidity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;82,214,055&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,311,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,635,254&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,305,282&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other contractual obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,492,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,811,462&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,749,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,749,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other contingent obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,133,680&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,160,312&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156,190,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,581,011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total cash outflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;122,841,100&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,024,048&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash Inflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;17&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collateralized loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,500,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;189,610,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;937,935&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outstanding loans whose payments are fully up-to-date&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,424,050&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,009,387&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,529,539&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,090,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other cash inflows&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,624,328&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,429,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,079,562&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,347,511&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total cash inflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,549,018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,438,620&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;248,219,178&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,376,396&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Adjusted Amount (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Adjusted Amount (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total HQLA&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,596,242&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,652,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total net cash outflow&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,402,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,647,652&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;LCR (%) (5)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156.2%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181.8%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculated based on the simple daily average of the months that compose the quarter (61 observations);&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the total balance related to the item of cash inflows or outflows;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the value after application of the weighting factors; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the calculated value after the application of weighting factors and limits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The amount of net assets (HQLA) consists, in addition to the compulsory returns and reserves at the Brazilian Central Bank, mainly of federal government securities. These net assets resulted in R$125,596,242 thousand, the average of the year of 2017.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Related to the cash outflows, based on the regulatory stress scenario (line 16), about 54.0% are redemptions and non-renewals retail and wholesale funding without collateral (unsecured), as shown on the lines 2 and 5 of the table. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Another relevant group refers to the item &quot;Other contractual obligations&quot; (line 14), which mainly includes the output streams of onlending operations, credit cards and trade finance.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Regarding cash inflows, corresponding to R$ 42,438,620 thousand in the average of the year, stand out the receipts of loans operations (partial renewal), the inflows of Trade Finance operations, cash and cash equivalents and redemptions of securities in addition to the inflow of transfer and credit card operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513965&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Internal Communication&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the process of liquidity risk management, reports are distributed daily to the areas involved in management and control, as well as to Management. This process includes the use of several analysis instruments to monitor liquidity, such as:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Daily distribution &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;of liquidity control instruments&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Automatic &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;intra-day update of the liquidity reports for appropriate management by the Treasury Department&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Preparation of reports with past behavior and future simulations based on scenarios&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Daily verification of compliance with minimum &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;liquidity levels&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Elaboration of complementary reports where the concentrations of funding by type of product, term and counterparty are presented; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Weekly reports to the Board of Executive &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Officers, showing the behavior and expectations related to the liquidity&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; situation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The liquidity risk management process also has an alert system that selects the appropriate reporting level according to the percentage of the established limit utilized. Thus, the lower the liquidity ratios, the higher the number and echelon of Senior Management members who receive the reports.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663413&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Undiscounted cash flows of financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below presents the cash flows payable for non-derivative financial liabilities, covering the remaining contractual period to maturity as from the date of the consolidated statement of financial position. The values disclosed in this table represent the undiscounted contractual cash flows.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:617.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;197,275,471&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,199,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,240,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,251,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,593,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,559,737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,846,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,519,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,476,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,861,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;272,820,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,346,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,222,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,548,689&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,143,455&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,503,901&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,765,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;896,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,705,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,942,643&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,064,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,166,577&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,775,114&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.606.124 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.785.744 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.290.146 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.711.492 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.046.006 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62.439.512 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;386.970.874 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.432.201 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;142.498.027 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240.031.836 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45.427.229 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;865.360.167 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,104,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,369,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,893,343&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,316,125&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,602,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,285,779&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;137,186,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,655,017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,460,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,377,222&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;250,783,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,239,074&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,971,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,896,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91,190,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,850,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;194,148,983&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;439,974&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,268,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,958,373&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,756,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,110,903&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,534,166&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,547,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,025,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,516,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,837,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,663,580&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,590,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;355,517,060&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,290,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;177,725,471&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,477,698&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,331,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;894,342,738&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;37%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;9%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;11%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;(1) I&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;nclude, mainly, credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The assets available to meet all the obligations and cover the outstanding commitments include cash and cash equivalents, financial assets, loans and advances. Management may also cover unexpected cash outflows by selling securities and by having access to sources of additional funds, such as asset-backed-markets.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The previous table shows the undiscounted contractual cash flows of the financial liabilities of the Organization. The cash flows that the Organization estimates for these instruments may vary significantly from those presented. For example, it is expected that demand deposits of customers will maintain a stable or increasing balance, and it is not expected that these deposits will be withdrawn immediately.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The gross cash outflows presented in the previous table refer to the undiscounted contractual cash flow related to the financial liability. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the Organization, liquidity-risk management involves a series of controls, mainly related to the establishment of technical limits, with the ongoing evaluation of the positions assumed and the financial instruments used.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663414&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Undiscounted cash flows for derivatives &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All the derivatives of the Organization are settled at net value, and include: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign currency derivatives - over-the-counter currency options, currency futures, and currency options traded on an exchange; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest rate derivatives - interest rate swaps, foward rate contracts, interest rate options, other interest rate contracts, interest rate futures traded on an exchange and interest rate options traded on an exchange. &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below analyzes the derivative financial liabilities that will be settled at net value, grouped based on the period remaining from the reporting date to the respective maturity date. The values disclosed in the table are undiscounted cash flows.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Differential of swaps payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;279,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;536,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,169,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,276,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-deliverable forwards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,761&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;147,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Purchased&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,599&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90,914&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;284,403&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Sold&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,516&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums of options&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;551,220&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,510&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63,052&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;965,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment payables - future&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of derivative liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,774&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;234,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;718,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,299,451&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;469,975&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,909,498&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Differential of swaps payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,426,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,769&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;546,569&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,695,486&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,021,775&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-deliverable forwards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,772,919&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,887&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;542,923&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,670&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,739,946&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Purchased&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;212,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;534,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,289&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,155,258&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Sold&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,123&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,584,688&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums of options&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,154&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,658&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment payables - future&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of derivative liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,369,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;476,998&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,129,646&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,897,373&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,832&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,043,543&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Statement of financial position by maturities &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the financial assets and liabilities of the Organization segregated by maturities used for the management of liquidity risks, in accordance with the remaining contractual maturities on the reporting date:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_BP_por_Prazos_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_por_Prazos_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 30 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31 to 180 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181 to 360 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,181,714&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,934,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,501,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,527,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,173,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,391,854&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,422,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,392,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,351,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,816,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,391,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,284,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,691,766&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,977,537&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,922,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,543,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,965,417&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,565,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,975,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,136,673&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,544,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,387,187&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,754,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;424,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,830,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,715,548&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,526,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,151,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,535,303&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,375,820&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,340,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,807,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,322,882&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,872,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,719,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;229,674,750&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;217,852,842&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,137,397&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;408,822,292&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;167,655,369&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,429,661&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,126,572,311&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;197,177,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,640,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,589,994&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,221,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,328,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;142,525,722&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,400,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,531,633&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,523,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,552,386&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,643&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;305,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,422,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,299,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,540,240&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,142,979&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;768,374&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;738,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,428,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;640,536&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,767,242&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,603,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,499,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,411,996&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;939,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,239,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,606,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,785,744&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,290,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,711,492&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,046,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,439,512&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;608,522,508&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,169,344&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,612,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,739,550&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,079,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,049,123,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_por_Prazos_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 30 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31 to 180 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181 to 360 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,475,080&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,768,610&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,759,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,589,655&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,837,056&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,710,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,629,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,149,003&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,251,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,143,446&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,932,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,069,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,646,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,394,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,904,827&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,753,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,586,901&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,286,577&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,759,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,545,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,120,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,398,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,151,213&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,409,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,879,049&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,744,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,119,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,657,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;633,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,384,379&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,207,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,171,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,874,327&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,879,131&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,100,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;394,054,061&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,978,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,527,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,098,414,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162,977,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63,417,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,850,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,045,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,371,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;137,252,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,331,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,457,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,641,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,455&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,428,599&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;534,525&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;279,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;192,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,295,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,280,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,140,968&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,237,747&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,148,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;426,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,904,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,068,023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,554,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,657,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,739,608&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,342,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,306,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,451,293&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,547,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,025,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,516,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,837,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,663,580&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,590,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,667,769&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;140,836,645&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,619,800&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;231,960,711&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,905,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,028,990,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(1)&amp;#160; Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(2) Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(3) Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The tables below show the assets and liabilities of the Organization segregated by current and non-current, on the reporting date:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_BP_Circulante_Nao_Circulante_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_Circulante_Nao_Circulante_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;531,664,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;594,907,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,126,572,311&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associated companies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premises and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets and goodwill, net of accumulated amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Taxes to be offset&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,589,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,934,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,524,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,731,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,731,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,602,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,531,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,134,504&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,713,623&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;85,067,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,781,129&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,378,612&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;679,974,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;796,304,508&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;252,818,997&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,049,123,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other reserves&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,349,366&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,141,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,490,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current income tax liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,416,345&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,416,345&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,344&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,215,503&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,251,847&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,460,225&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,917,087&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,377,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,262,280&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,273,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,536,231&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,693,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,693,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;833,566,788&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,786,652&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;a name=&quot;_Toc279663407&quot; /&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_Circulante_Nao_Circulante_Anteri&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,853,712&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;569,560,305&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,098,414,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associated companies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premises and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets and goodwill, net of accumulated amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Taxes to be offset&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,114,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,608,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,723,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,116,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,116,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,278,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,720,504&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,999,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,972,250&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,643,389&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,615,639&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;538,825,962&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;653,203,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;766,124,214&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,865,819&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,028,990,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other reserves&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,293,374&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,999,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,292,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current income tax liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,130,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,130,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,943&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,726,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,762,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,917,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;457,509&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,374,773&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,377,867&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,182,549&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,560,416&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,479,207&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,479,207&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;807,502,081&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;384,527,575&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-.3in;&quot;&gt;&lt;a name=&quot;_Toc474923302&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.4.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;Fair value of financial assets and liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization applies IFRS 13 for financial instruments measured in the consolidated statement of financial position at fair value, which requires disclosure of fair-value measurements according to the following fair-value hierarchy of fair value measurement:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active market, as well as Brazilian government securities that are highly liquid and are actively traded in over-the-counter markets.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Valuation uses observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data, including but not limited to yield curves, interest rates, volatilities, equity or debt prices and foreign exchange rates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Valuation uses unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities normally include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant Management judgment or estimation. This category generally includes certain corporate and bank debt securities and certain derivative contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To fair value securities which have no consistent, regulatory updated, public price source,&amp;#160; Bradesco uses models defined by the mark-to-market Commission and documented in the mark-to-mark manual for each security type. Through the use of methods and both mathematical and financial models which capture the effects and variations in the prices of marked-to-market assets, or similar instruments, Bradesco is able to ascertain in a clear and consistent manner the determination of fair value of its level 3 assets and liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below present the composition of the financial assets and liabilities measured at fair value, classified using the hierarchical levels:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Valor_Justo_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:561.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Valor_Justo_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;57%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGED5&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;57%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,273,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,975,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;202,249,272&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,716,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,271,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,339,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,952,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,396,254&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,348,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,847,345&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,643,365&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,446&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,843,156&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (assets)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,601&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,814,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (liabilities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,264,124)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,875)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,274,999)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,601&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(449,812)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,903)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(408,114)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,237,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,123&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,281,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,786,078&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,740,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,451,696&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,978,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,086,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,380,606&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,261,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,395,469&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available-for-sale securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,421,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,099,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,891,288&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,841,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,841,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,283,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,283,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;386,599,371&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,293,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,238,831&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;447,131,742&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Valor_Justo_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,346,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,756,680&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;79&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,103,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,740,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,356,302&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,145&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,383,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;470,676&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,129,451&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,600,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,295,403&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,378&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,303,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;167,846,369&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,250,811&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;196,384,404&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (assets)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,632&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,728,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (liabilities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,427,053)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,625)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,435,678)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,632&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,301,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,617)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,319,764&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,149,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,198,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,470,652&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,431,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,240,826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,142,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,157&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;495,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,387,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,706,578&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,723,825&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available-for-sale securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,471,507&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,633,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,013,353&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,812,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,812,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,557,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,557,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;304,902,495&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,186,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,291,960&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;383,380,709&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;43%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;12%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;12%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663408&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivative Assets and Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#180;s derivative positions are determined using quantitative models that require the use of multiple inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors. The majority of market inputs are observable and can be obtained, from B3 (principal source) and the secondary market. Exchange traded derivatives valued using quoted prices are classified within Level 1 of the valuation hierarchy. However, few classes of derivative contracts are listed on an exchange; those that are not are classified as Level 2 or Level 3.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The yield curves are used to determine the fair value by the method of discounted cash flow, for currency swaps and swaps based on other risk factors. The fair value of futures and forward contracts is also determined based on quoted markets prices on the exchanges for exchanges-traded derivatives or using similar methodologies to those described for swaps. The fair value of options is determined using external quoted prices or mathematical models, such as Black-Scholes, using yield curves, implied volatilities and the fair value of the underlying asset. Current market prices are used to determine the implied volatilities. The majority of these models do not contain a high level of subjectivity as the methodologies used in the models do not require significant judgment and inputs to the model are readily observable from active quoted markets. Such instruments are generally classified within Level 2 of the valuation hierarchy. The fair values of derivative assets and liabilities also include adjustments for market liquidity, counterparty credit quality and other specific factors, where appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivatives that are valued based on mainly unobservable market parameters and that are not actively traded are classified within Level 3 of the valuation hierarchy. Level 3 derivatives include credit default swaps which have corporate debt securities as underlyings.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years 2017 and 2016:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Derivativos_Ativos_Passivos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivativos_Ativos_Passivos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;209,210&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,190&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,382)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,274,018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Included in the statement of income and other comprehensive income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,174,225)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,161,070)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,833&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,178,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,194,071&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,633)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(445,173)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(452,834)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer with categories&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;274,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(274,001)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer levels&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(205,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,356,883)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,562,225)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31,&amp;#160; 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,013,353&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,617)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,291,960&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Included in the statement of income and other comprehensive income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(735,002)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,134)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,019,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,714&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,098,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,554)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,406,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,432,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31,&amp;#160; 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,446&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,891,288&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,903)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,238,831&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In 2016, there was a transfer of securities from Level 3 to other levels of classification, mainly for &amp;#160;level 2 in the amount R$ 1,562,225 thousand. The transfer refers, basically, to Corporate debt securities, which were based on the fair value obtained from internal pricing models, mainly customer internal rating, began to be calculated based on observable market data (Anbima&amp;#39;s credit curve). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities during the years 2017, 2016 and 2015:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Derivados_Ganhos_Perdas_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(917,271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(927,370)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,868&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(735,002)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,134)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,518&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,381,389)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,384,752)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,155&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,174,225)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,161,070)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;440,791&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,399,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,840,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,496&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,094,894&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,105,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;451,287&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,494,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,945,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities, which were not settled during the years 2017, 2016 and 2015:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663409&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity analysis for financial assets classified as Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Financ_Classif_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Financ_Classif_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on income (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on shareholders&amp;#39; equity (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,931)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,482)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(63)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,873)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,345)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,269)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,394)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,351)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(33,783)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(67,567)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,825)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(445,615)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(891,231)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Financ_Classif_Anter&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on income (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on shareholders&amp;#39; equity (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(476)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,088)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,047)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,953)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,481)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(487,018)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(974,037)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:53.45pt;margin-right:21.25pt;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The sensitivity analyses were carried out based on the scenarios prepared for the dates shown, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 1:&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.17 was used, while for a 1-year fixed interest rate of 6.90%, a 6.91% scenario was applied;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 2: &amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;25.0% stresses were determined based on market information. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.93 was used, while for a 1-year fixed interest rate of 6.90%, a 8.62% scenario was applied. The scenarios for other risk factors also had 25.0% stresses in the respective curves or prices; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Scenario 3: &amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;50.0% stresses were determined based on market information. For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also had 50% stresses in the respective curves or prices.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial instruments not measured at fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below summarizes the carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value, classified using the hierarchical levels:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; securities purchased under agreements to resell&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,182,489&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,963,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Banks (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Customers (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,633,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,633,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,716,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,716,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,760,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,760,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,890,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,890,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,012,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,012,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; securities purchased under agreements to resell&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,875,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,379,323&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Banks (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Customers (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;362,156,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;362,156,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,497,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,497,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,224,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,224,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,622,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,622,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,436,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,436,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&amp;#160; Amounts of loans and receivables are presented net of the provision for impairment losses. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Below we list the methodologies used to determine the fair values presented above:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair values were estimated for groups of similar loans based upon type of loan, credit quality and maturity. &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair value for fixed-rate transactions was determined by discounted cash flow estimates using interest rates approximately equivalent to our rates for new transactions based on similar contracts.&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Where credit deterioration has occurred, estimated cash flows for fixed and floating-rate loans have been reduced to reflect estimated losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair values for performing loans are calculated by discounting scheduled principal and interest cash flows through maturity using market discount rates and yield curves that reflect the credit and interest rate risk inherent to the loan type at each reporting date. The fair values for impaired loans are based on discounting cash flows or the value of underlying collateral.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The non-performing loans were allocated into each loan category for purposes of calculating the fair-value disclosure. Assumptions regarding cash flows and discount rates are based on available market information and specific borrower information.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity are carried at amortized cost. Fair values are estimated according to the assumptions described on Note 2(f). See Note 22 for further details regarding the amortized cost and fair values of held-to-maturity securities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deposits from banks and customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair value of fixed-rate deposits with stated maturities was calculated using the contractual cash flows discounted with current market rates for instruments with similar maturities and terms. For floating-rate deposits, the carrying amount was considered to approximate fair value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Funds from securities issued&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The carrying values of funds from securities issued approximate the fair values of these instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair values for subordinated debts were estimated using a discounted cash flow calculation that applies interest rates available in the market for similar maturities and terms.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923307&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.5.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;Capital management&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital Management Corporate Process &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Capital Management provides the conditions required to meet the Organization&amp;#39;s strategic goals to support the risks inherent to its activities. It includes the preparation of the capital plan, identifying the contingency actions to be considered in stress scenarios.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In line with the strategic guidelines, the Organization manages capital, involving the control and business areas, in accordance with the guidelines of the Board of Executive Officers and Board of Directors. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The governance structure for the capital management and the Internal Capital Adequacy Assessment Process (ICAAP) is composed by Committees and its highest level body is the Board of Directors. The most important is the Planning, Budget and Control Department, whose mission is to provide the efficient and effective management of the business through strategic management and planning, supporting the Top Management by providing analyses and projections of capital requirements and availability, identifying threats and opportunities that help plan the sufficiency and optimization of capital levels. The Department is responsible for complying with the provisions of &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Brazilian Central Bank&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; regarding capital management activities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital Adequacy &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;This process is followed up daily to ensure that the Organization maintains a solid capital base in normal situations or in extreme market conditions and complying with regulatory requirements. &amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The determination of the Central Bank, is that the financial institutions permanently maintain capital and additional Common Equity Tier I (Conservation, Countercyclical and Systemic) compatible with the risks from their activities. The risks are represented by Risk-Weighted Asset (RWA), which is calculated based on, at least, the sum of Credit, market and operational risk installments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Additionally, the Organization must maintain enough capital to meet the interest rate risk from operations not included in the trading portfolio (Banking &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Portfolio&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#39;s interest rate risk), calculated using the EVE &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(Economic Value Equity)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; method.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663433&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Analysis of Reference Equity (PR)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Following is the detailed information on the Organization&amp;#39;s Capital, in compliance with the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Prudential&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Conglomerate:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Detalhamento_PR_Basileia&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc279663434&quot; /&gt;&lt;a name=&quot;_Toc474923308&quot; /&gt;&lt;a name=&quot;_Toc474919359&quot; /&gt;&lt;a name=&quot;IFRS_Detalhamento_PR_Basileia&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculation basis - Capital Adequacy Ratio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basel III&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier I capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,084,744&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,762,886&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common equity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;75,079,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,747,016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;110,457,476&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100,442,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minority / Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,072&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,615&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential adjustments (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(35,445,771)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,756,012)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional Capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,004,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,015,870&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier II capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,588,090&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,363,950&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debts (Resolution No. 4.192/13)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,947,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,803,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debts (prior to Resolution No. 4.192/13)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,641,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,560,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reference Equity (a)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,672,834&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,126,836&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Credit risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,928,771&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;589,977,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Market risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,908,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,767,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Operational risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,605,162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,443,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk-weighted assets - RWA (b)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;611,442,138&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;656,188,517&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking Book&amp;#39;s Interest Rate Risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,527,467&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,142,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Margin (Capital Buffer) (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,226,583&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,084,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basel ratio (a/b)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.1%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.4%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier I capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13.1%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Principal capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Additional capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;CMN&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; Resolution n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;4,192/13; and&lt;a name=&quot;_Toc474923309&quot; /&gt;&lt;a name=&quot;_Toc474919360&quot; /&gt;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923311&quot; /&gt;&lt;a name=&quot;_Toc474919362&quot; /&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Margin = Minimum (PR - PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Breakdown of Risk-Weighted Assets (RWA)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Below is the detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate, regulatory approach:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Detalhamento_Montante_RWA&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Detalhamento_Montante_RWA&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RWA&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,928,771&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;589,977,243&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;314,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;271,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,224,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,725,736&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 35%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,208,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,114,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 50%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,635,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,434,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 75%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,553,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,017,519&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,938,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,006,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 100%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,909,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,369,280&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 250%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,139,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,655,131&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 300%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,920,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,825,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight up to 1,250%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,085,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,555,933&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Market Risk (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,908,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,767,767&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed-rate in Reais&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,696,584&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,537,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;838,259&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,028,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price Index Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,756,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest Rate Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;637,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,392&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commodities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;449,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure to Gold, Foreign Currencies and Exchange&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,657,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,194,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Operational Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,605,162&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,443,507&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate Finance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,369,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,380,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading and Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,667,449&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,866,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,308,681&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,349,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;Commercial&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,518,843&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,699,277&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment and Settlement&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,132,749&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,143,694&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial Agent Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,628,257&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,465,556&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,827,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,392,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Risk Weighted Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;611,442,138&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;656,188,517&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Capital Requirement&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,558,398&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,798,616&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking Book&amp;#39;s Interest Rate Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,527,467&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,142,339&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Addicional Common equity (ACPS) (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,171,632&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,101,178&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;ACP Conservation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,643,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,101,178&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;ACP Systemic&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,605&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital Sufficiency &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The management of capital is aligned with the strategic planning and is forward looking, anticipating any changes in the economic and commercial environment conditions in which we operate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s capital management aims to ensure, in a permanently, solid capital composition to support the development in its activities and ensure appropriate coverage of all risks involved. The Organization maintains a managerial capital margin (buffer), which is added to the minimum regulatory requirements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The management buffer is defined according to the leading practices and regulatory requirements, observing aspects such as additional impacts generated by stress scenarios, qualitative risks and risks not captured by the regulatory model. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization considers it comfortable to maintain a Tier I Capital margin of at least 25% in relation to the minimum capital requirements in the medium and long term, pursuant to the schedule established by the Brazilian Central Bank for the full adoption of Basel III guidelines.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s regulatory capital sufficiency can be seen by calculating the capital adequacy ratio which in this period was 17.1%, of which 13.1% and 12.3% was Tier I and Common Equity Tier I respectively. In terms of margin, the amount totaled R$ 34,226,583 thousand, which would allow for an increase of up to R$ 672,758,390 thousand in loan operations (considering the current composition of the portfolio).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Since January 2015, according to the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;CMN&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Resolution n&amp;#186; 4,192/13 which deals with the methodology for calculating the ratios of Common Equity Tier 1, Tier 1 and Total Capital, the regulatory scope became the Prudential Conglomerate. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital Forecast &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Verdana,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The capital management area (ICAAP) and Recovery Plan of DPOC is responsible for making simulations and projections of the Organization&amp;#39;s capital, in accordance with the strategic guidelines, the impacts arising from variations and trends of the economic and business environment as well as regulatory changes. The results from the projections are submitted to the Top Management, pursuant to the governance established. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The projections for the next three years present adequate levels of Capital indices, considering the incorporation of net profits and the prudential adjustments due to the increase of the factors established in Article 11 of &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;CMN&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Resolution 4,192/13 for subsequent periods.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Simulation - Basel III &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Verdana,sans-serif;font-size:11.5pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Based on Basel III rules published by Brazilian Central Bank in March and October 2013, which include the definition of capital and the expansion of risk scope and are being gradually implemented up to 2019, below is the simulation based in strategic assumptions for the Prudential &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Conglomerate&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;, taking into consideration the full compliance with the rules on the reference date of December 2017, i.e., anticipating all the impacts expected throughout the implementation schedule, not considering later events (example: incorporation of results), according to &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;CMN&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Resolution n&amp;#186; 4,192/13.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:14.15pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:95.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;Published (Schedule 80%); &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:95.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;Effect of the full impact. Including the reserve of Goodwill / Intangible paid for the purchase of HSBC Brasil, net of amortization and the reallocation of resources, through the payment of dividends by the Insurance Group (Grupo Segurador); &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:95.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;Considers the anticipation of the multiplier of installments of market and operational risks, from 9.250% to 8%, in 2019; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:95.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;Refers to the minimum required, in accordance with CMN Resolution n&amp;#186; 4,193/13, in addition to the additional capital installments established by Circular Nos. 3,768/15 and 3,769/15. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:14.15pt;&quot;&gt; &lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table cellpadding=&quot;0&quot; cellspacing=&quot;0&quot;&gt; &lt;tr&gt; &lt;td height=&quot;34&quot;&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td&gt;&lt;/td&gt; &lt;td&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:14.15pt;&quot;&gt; &lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:14.15pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;font lang=&quot;EN-US&quot;&gt;&lt;br /&gt; &lt;/font&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923312&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;3.6.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;Insurance risk/subscription risk&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance risk is the risk &amp;#160;related to a possible loss event that may occur in the future and for which there is uncertainty over the amount of damages that result from it. A component of insurance risk is underwriting risk, which arises from an adverse economic situation not matching the Organization&amp;#39;s expectations at the time of drafting its underwriting policy and calculating insurance premiums. In short, it refers to the risk of the frequency or severity of loss events or benefits exceeding the Organization&amp;#39;s estimates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Underwriting risk is managed by our technical areas. Underwriting and risk acceptance policies are periodically evaluated by working groups. In addition, one of the main tasks of our technical areas is the calculation of regulatory capital for these businesses and certifies studies on the pricing of new products.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The management process seeks to diversify insurance operations, aiming to excel at balancing the portfolio, and is based on the grouping of risks with similar characteristics in order to reduce the impact of individual risks.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Uncertainties over estimated future claim payments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The organization must indemnify all covered events that occurred during the policy period, even if a loss is discovered after coverage ends. As a result, claims are reported over a period and a significant portion are accounted for in the provisions for incurred and but not reported claims (IBNR). The estimated cost of claims includes direct expenses to be incurred when settling them.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Giving the uncertainties inherent to the process for estimating claims provisions, the final settlement may be different than the original provision.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Asset and liability management (ALM)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The organization periodically analyzes future cash flows on assets and liabilities held in portfolio (ALM - Asset Liability Management). The method used for ALM analysis is to observe the sufficiency or insufficiency of the present value of the stream of assets in relation to the present value of the stream of liabilities, and the duration of assets in relation to that of liabilities. The aim is to verify that the situation of the portfolio of assets and liabilities is balanced in order to honor the Organization&amp;#39;s future commitments to its participants and insured persons.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The actuarial assumptions used to generate the flow of liabilities are in line with actuarial practices and also with the characteristics of the Organization&amp;#39;s product portfolio.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk management by product&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Monitoring the insurance contract portfolio enables us to track and adjust premiums practiced, as well as assess the need for alterations. Other monitoring tools in use include: (i) sensitivity analysis, and (ii) algorithmic checks and corporate system notifications (underwriting, issuance and claims).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main risks associated with property insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Oscillations in the incidence, frequency and severity of the claims and the indemnifications of claims in relation to the expectations;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Unpredictable claims arising from an isolated risk;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Inaccurate pricing or inadequate underwriting of risks;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Inadequate reinsurance policies or risk transfer techniques; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insufficient or excessive technical provisions.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Generally the property insurance underwritten is of short duration.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The underwriting strategies and goals are adjusted by management and informed through internal guidelines and practice and procedure manuals.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risks inherent to the main property insurance business lines are summarized as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.4pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Auto insurance includes, among other things, physical damage to the vehicle, loss of the insured vehicle and third-party liability insurance for vehicles; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.4pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Business, home and miscellaneous insurance includes, among other things, fire risks (ex: fire, explosion and business interruption), natural desasters (earthquakes, storms and floods), engineering lines (explosion of boilers, breakdown of machinery and construction) and marine (cargo and hull) as well as liability insurance.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property insurance risk management&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization monitors and evaluates risk exposure and undertakes the development, implementation and revision of guidelines related to underwriting, treatment of claims, reinsurance and constitution of technical provisions. The implementation of these guidelines and the management of these risks are supported by the technical departments of each risk area.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Technical Department has developed mechanisms, e.g. risk grouping by CPF, CNPJ and risky addresses, that identify, quantify and manage accumulated exposures in order to keep them within the limits defined in the internal guidelines. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main risks associated with life-insurance and private-pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Life-insurance and private-pension plans are long-term in nature and, accordingly, various actuarial assumptions are used to manage and estimate the risks involved, such as: assumptions about returns on investments, mortality and persistence rates in relation to each business unit. Estimates are based on historical experience and on actuarial expectations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risks associated with life insurance and private pension plans include:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Biometric risks, which includes mortality experience, adverse morbidity, longevity and disability. The mortality risk may refer to policyholders living longer than expected (longevity) or passing away before expected. This is because some products pay a lump sum if the person dies, and others pay regular amounts while the policyholder is alive;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Policyholder&amp;#39;s behavior risks, which includes persistence rate experience. Low persistence rates for certain products may result in less policies/private pension plan agreements remaining contracted to help cover fixed expenses and may reduce future positive cash flows of the underwritten business. A low persistence rate may affect liquidity of products which carry a redemption benefit;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Group life-insurance risk results from exposure to mortality and morbidity rates and to operational experience worse than expected on factors such as persistence levels and administrative expenses; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Some Life and Pension Plan products have pre-defined yield guarantees, and thereby face risk from changes in financial markets, returns on investments and interest rates that are managed as a part of market risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Life-insurance and private-pension-plan risk management&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization monitors and assesses risk exposure and is responsible for developing, implementing and reviewing policies relating to underwriting, processing claims, and technical reserves for insurance purposes. Implementation of these policies and management of these risks are supported by our technical areas;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The technical areas have developed mechanisms, such as &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;statistical reports and performance by type &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;that identify, quantify and manage accumulated exposures to keep them within limits defined by internal policies; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Longevity risks are carefully monitored in relation to the most recent data and to the trends in the environments in which the Organization and its subsidiaries and associated companies operate. Management monitors exposure to this risk and the capital implications of it in order to manage the possible impacts, as well as to ensure that business has the capital that it may require. The adminstration adopts improvement assumptions in its calculation of technical provisions in order&amp;#160; to predict and thus be covered for possible impacts generated by the improvement in life expectancy of the insured/assisted population;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Mortality and morbidity risks are partially mitigated through reinsurance contracts for catastrophes;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Persistency risk is managed through frequent monitoring of the Organization&amp;#39;s experience. Management has also defined rules on the management and monitoring of persistence and the implementation of specific initiatives to improve the renewal of policies that expire; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk of a high level of expenses is primarily monitored through the evaluation of the profitability of the business units and the frequent monitoring of expense levels. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main risks associated with health insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Variations in cause, frequency and severity of indemnities of claims compared to expectations;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Unforeseen claims resulting from isolated risk;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Incorrect pricing or inadequate subscription of risks; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insufficient or overvalued technical provisions.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For individual health insurance, for which certain provisions are calculated based on expected future cash flows (difference between expected future claims and expected future premiums), there are a number of risks, in addition to those cited above, such as biometric risk, including mortality and longevity experience and the insured&amp;#39;s behavioral risk, which covers persistency experience, as well as interest-rate risk that is managed as a part of market risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Management of health-insurance risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization monitors and evaluates risk exposure and is responsible for the development, implementation and review of policies that cover subscription, treatment of claims and technical insurance provisions. The implementation of these policies and management of risks are supported by the technical areas;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The technical areas have developed mechanisms, such as &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;statistical reports and performance by type&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;that identify, quantify and manage accumulated exposure in order to keep it within the limits defined by internal policies;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Longevity risk is carefully monitored using the most recent data and tendencies of the environment in which the Organization operates. Management monitors exposure to this risk and its capital implications in order to manage possible impacts, as well as the funding that the future business needs;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Persistency risk is managed through the frequent management of the Organization&amp;#39;s experience. Management has also established guidelines for the management of persistency in order to monitor and implement specific initiatives, when necessary, to improve retention of policies; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The risk of elevated expenses is primarily monitored through the evaluation of the profitability of business units and the frequent monitoring of expense levels.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Results of sensitivity analysis - Damages, life and health insurance and Life with Survival and Welfare Coverage and Individual Life Insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Some test results are shown below. For each sensibility scenario the impact is shown in the income and shareholders&amp;#39; equity after taxes and contributions, in a reasonable and possible change in just a single factor. We emphasize that the insurance operations are not exposed to significant currency risk.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Fator_Sensib_Aplicado&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;28%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Fator_Sensib_Aplicado&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sensitivity factor&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;72%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Description of sensitivity factor applied&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;28%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;72%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect of lowering the risk free forward yield curve rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;28%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loss events&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;72%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on the business of increased loss events and claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;28%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Longevity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;72%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact of an improved survival estimates on annuity contracts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;28%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Conversion to income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;72%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on annuity contracts of a higher rate of conversion to income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The sensitivity test for Life Insurance with &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Survival, Welfare Coverage&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; and &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Individual Life Insurance&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; was made considering the same bases of the LAT test with variation in the assumptions listed below:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sensibilidade_Seg_de_Vida_Premissas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sensibilidade_Seg_de_Vida_Premissas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Longevity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Conversion to income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Percentage adjustment to each assumption:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Variation of&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:150%;&quot;&gt;+0.2 p.p.&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;+ 5 p.p.&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-5%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans (contributing period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(60,733)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,057)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,691)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;PGBL and VGBL (contributing period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,446)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(504)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,409)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;All plans(retirement benefit period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(112,782)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(35,507)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(178,961)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,068)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,100)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;For damages, life and health insurance, except individual life, the table below shows increase in the events/claims were to rise 1 percentage point over the 12 months from the calculation base date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Seguros_Sinistralidade&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Seguros_Sinistralidade&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,940)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,809)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,893)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,333)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,146)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,358)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,050)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,277)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(89,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(89,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Limitations of sensitivity analysis&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Sensitivity analyses show the effect of a change in an important premise while other premises remain unchanged. In real situations, premises and other factors may be correlated. It should also be noted that these sensitivities are not linear and therefore greater or lesser impacts should not be interpolated or extrapolated from these results.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Sensitivity analyses do not take account of the fact that assets and liabilities are managed and controlled. Additionally, the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Organization&amp;#39;s&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; financial position may vary with any movement occurring in the market. For example, the risk management strategy aims to manage exposure to fluctuations in the market. As investment markets move, management initiatives may include sales of investments, altered portfolio allocations, and other protective measures.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Other limitations of the sensitivity analyses include the use of hypothetical market movements to show the potential risk, which only represents Management&amp;#39;s view of possible market changes in the near future, which cannot be foreseen with certainty, and they also assume that all interest rates move in the same manner.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Risk concentration&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Potential exposures are monitored, analyzing certain concentrations in some type of insurance. The table below shows risk concentration by type of insurance (except health and dental), based on net premiums, net of reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net premiums written by type of insurance, net of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,086,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,924,444&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,525,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,593,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,788,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,499,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,904,576&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,354,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,650,153&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,377,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;PGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,301,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,386,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit risk of insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit risk consists of the possible incurrence of losses associated with non-performance, by the borrower or counterparty, of its financial obligations according to agreed terms, as well as the fall in value of any credit agreement as a result of deterioration in the risk classification of the borrower, and other losses related to any non-performance of financial obligations by the counterparty.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reinsurance policy&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Credit risk is involved in purchasing reinsurance and insurance companies must be conservative and selective when choosing their partners R&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;einsurers are registered with SUSEP, and classified as local, admitted or occasional. Reinsurers classified as admitted and occasional, headquartered abroad, must meet specific minimum requirements set forth in current legislation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Bradesco Organization&amp;#39;s policy for purchasing reinsurance and approval of reinsurers are the responsibility of the executive board, observing to the minimum legal requirements and regulations, some of them aimed at minimizing the credit risk intrinsic to the operation, and considering the shareholders&amp;#39; equity consistent with amounts transferred. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Another important aspect of managing reinsurance operations is the fact that the Organization aims to work within its contractual capacity, thereby avoiding high credit risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Practically, the value of premiums transferred in reinsurance is relatively small in relation to total premiums written. However, almost all property damage portfolios, except automotive, are hedged by reinsurance which, in most cases, is a combination of proportional and non-proportional plans by risk and/or by event.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Currently, part of the reinsurance contracts (proportional and non-proportional) are transferred to IRB Brasil Resseguros S.A. Some admitted reinsurers participate with lower individual percentages, but all have minimum capital and rating higher than the minimum established by the Brazilian legislation, which, in management&amp;#39;s judgment, reduces the credit risk.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Managing credit risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Credit-risk management in the Organization is a continuous and evolving process including the mapping, development, evaluation and diagnosis of existing models, instruments and procedures that requires a high level of discipline and control in the analysi of operations to preserve the integrity and independence of processes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As noted above, credit risk is managed at the corporate level using structured, independent internal procedures based on proprietary documentation and reports, duly assessed by the risk management structures of Organization, and based on the gradual deployment of internal models for the determination, measurement and calculation of capital.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Exposure to insurance credit risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Management believes that maximum exposure to credit risk arising from premiums to be paid by insured parties is low, since, in some cases, coverage of claims may be canceled (under Brazilian regulations), if premiums are not paid by the due date. Exposure to credit risk for premium receivables differs between risks yet to be incurred and risks incurred, since there is higher exposure on incurred-risk lines for which coverage is provided in advance of payment of the insurance premium.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization is exposed to concentrations of risk with individual reinsurance companies, due to the nature of the reinsurance market and strict layer of reinsurance companies with acceptable loan ratings. The Organization manages the exposures of its reinsurance counterparties, limiting the reinsurance companies that may be used, and regularly assessing the default impact of the reinsurance companies.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
<!-- ELement Id bbd_SignificantAccountingPoliciesTextBlock -->
  <bbd:SignificantAccountingPoliciesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These consolidated financial statements of the Organization were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The consolidated financial statements include the consolidated statements of financial position, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows as well as the notes to the consolidated financial statements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These consolidated financial statements have been prepared based on historical cost, except for the following material items in the balance sheet: available for sale measured at fair value, assets and liabilities held for trading measured at fair value and financial instruments designated at fair value through profit or loss, and defined-benefit liabilities that are recognized at the present value of the defined benefit obligation less the net total of the plan assets, plus unrecognized actuarial gains less the cost of past services not recognized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has classified its expenses according to their nature.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The consolidated statement of cash flows shows the changes in cash and cash equivalents during the year arising from operating, investing and financing activities. Cash and cash equivalents include highly liquid investments. Note 19 details the accounts of the consolidated statement of financial position that comprise cash and cash equivalents. The consolidated statement of cash flows is prepared using the indirect method. Accordingly, the income before taxes was adjusted by non-cash items such as provisions, depreciation, amortization and Impairment losses on loans and advances. The interest and dividend received and paid are classified as operating, financing or investment cash flows according to the nature of the corresponding assets and liabilities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The preparation of the consolidated financial statements requires the use of estimates and assumptions which affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the profit and loss amounts for the year. The consolidated financial statements also reflect various estimates and assumptions, including, but not limited to: adjustments to the impairment provision of loans and advances; estimates of the fair value of financial instruments; depreciation and amortization rates; impairment losses on assets; the useful life of intangible assets; evaluation of the realization of tax assets; assumptions for the calculation of technical provisions for insurance, supplemental pension plans and capitalization bonds; provisions for contingencies and provisions for potential losses arising from fiscal and tax uncertainties. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The accounting policies listed below were used in all the periods presented and by all the companies of the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:SignificantAccountingPoliciesTextBlock>
  <bbd:DescriptionOfAccountingPolicyForRecentAcquisitionsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923251&quot; /&gt;&lt;a name=&quot;_Toc474919302&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;2.1&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;Recent Acquisitions &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In August, 2015, Bradesco signed the Purchase and Sale of Shares Agreement with HSBC Latin America Holdings Limited for the acquisition of 100% of the equity of HSBC Bank Brasil S.A. (&amp;#8220;HSBC Bank&amp;#8221;) and HSBC Servi&amp;#231;os e Participa&amp;#231;&amp;#245;es Ltda. (&amp;#8220;HSBC Servi&amp;#231;os&amp;#8221;). In June 2016, the final approval of regulatory agencies was given in compliance with legal formalities. With the conclusion of the acquisition, on July 1, 2016, Bradesco assumed all operations of &amp;#160;HSBC in Brazil, including retail, insurance and asset management, as well as all the branches and clients, reinforcing its presence and competitiveness throughout the national territory.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In July 2016, there was a total division of the equity of HSBC Servi&amp;#231;os, where portions of this &amp;#160;equity&amp;#160; were transferred to HSBC Bank and to Credival Participa&amp;#231;&amp;#245;es, Administra&amp;#231;&amp;#227;o e Assessoria Ltda. (Credival), that is a wholly owned subsidiary of HSBC Bank.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In October 2016, approval was granted in an Extraordinary General Meeting for the partial spin-off of HSBC Brasil, through the absorption of portions of its equity by companies of the Organization, enabling progress with the integration of operational and technological platforms, resulting in the replacement of the HSBC brand in its service network, becoming Bradesco. Thus, Bradesco began to operate with a unified platform (branches, ATMs, and systems), to which all clients have access to. Bradesco adds, from now on the products and services already offered to HSBC Brasil clients, a nationwide service network, a state-of-the-art technology platform, and an even more extensive portfolio of products and services.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&amp;#231;os (HSBC Brasil) at the date of acquisition:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;page-break-inside:avoid;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Accounting&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustments &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair Value (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and cash equivalents&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Desposits with the central banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,364,585&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,650,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,714,569&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,450&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Property and equipment, net of accumulated depreciation &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,175,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;622,246&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;558,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,551,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,808,692&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;848,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,657,391&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from securities issued&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,187,105)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(64,701)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,251,806)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sub-total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,066,683&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Total amount of s&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;hareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair value of the consideration transferred was composed as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Payment to HSBC Latin America Holding Limited, net of adjustment after closure &lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,665,367&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustment to the cost acquisition related to the fair value of the firm commitment&lt;sup&gt; (2)&lt;/sup&gt;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,623,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes the IOF collection, and withholding Income Tax; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2) Includes the results from changes to the fair value &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; h&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In December 2016, Bradesco, based on a study report on purchase price allocation (&quot;PPA&quot;), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;89%&quot; style=&quot;border-collapse:collapse;margin-left:45.95pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of assets acquired and liabilities assumed&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(221,361)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill in the acquisition of the &quot;HSBC Bank&quot; and &quot;HSBC Servi&amp;#231;os&quot; investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These acquisitions were recorded on the business combination method and the companies were consolidated from the date that the majority control was acquired.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The goodwill on acquisition, in the amount of R$ 4,221,787 thousand, recorded by Bradesco, is not amortized and is subject to annual impairment test. Goodwill is attributed to the expected future profitability of the respective businesses acquired and to the strengthening of Bradesco&amp;#39;s strategy to strengthen its presence throughout the national territory, giving a greater degree of competition in a highly competitive market, so as to take advantage of the synergies generated by the products and base of HSBC Brasil customers, which are complementary.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForRecentAcquisitionsTextBlock>
  <bbd:DescriptionOfAccountingPolicyForConsolidationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:9.0pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923252&quot; /&gt;&lt;a name=&quot;_Toc474919303&quot; /&gt;&lt;a name=&quot;_Toc415565830&quot; /&gt;&lt;a name=&quot;_Toc415499809&quot; /&gt;&lt;a name=&quot;_Toc415498644&quot; /&gt;&lt;a name=&quot;_Toc415498520&quot; /&gt;&lt;a name=&quot;_Toc415498291&quot; /&gt;&lt;a name=&quot;_Toc413337819&quot; /&gt;&lt;a name=&quot;_Toc412626151&quot; /&gt;&lt;a name=&quot;_Toc381783331&quot; /&gt;&lt;a name=&quot;_Toc379874051&quot; /&gt;&lt;a name=&quot;_Toc355707581&quot; /&gt;&lt;a name=&quot;_Toc351013962&quot; /&gt;&lt;a name=&quot;_Toc320264309&quot; /&gt;&lt;a name=&quot;_Toc318995662&quot; /&gt;&lt;a name=&quot;_Toc318995460&quot; /&gt;&lt;a name=&quot;_Toc316896239&quot; /&gt;&lt;a name=&quot;_Toc312767216&quot; /&gt;&lt;a name=&quot;_Toc289782394&quot; /&gt;&lt;a name=&quot;_Toc285698308&quot; /&gt;&lt;a name=&quot;_Toc285642789&quot; /&gt;&lt;a name=&quot;_Toc285538655&quot; /&gt;&lt;a name=&quot;_Toc285477016&quot; /&gt;&lt;a name=&quot;_Toc285472555&quot; /&gt;&lt;a name=&quot;_Toc284885019&quot; /&gt;&lt;a name=&quot;_Toc284697525&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;2.2&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;&quot;&gt;Consolidation &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The consolidated financial statements include the financial statements of Bradesco and those of its direct and indirect subsidiaries, including exclusive mutual funds and special purpose entities.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main subsidiaries included in the consolidated financial statements are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;div align=&quot;left&quot;&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;margin-left:.5in;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Activity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Country&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Alvorada S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Financiamentos S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Boavista Interatl&amp;#226;ntico S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Argentina S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Argentina&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Europa S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Luxembourg&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BERJ S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradescard S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BBI S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment bank&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.81%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Cart&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Administradora de Cons&amp;#243;rcios Ltda. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradseg Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Auto/RE Cia. de Seguros&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Capitaliza&amp;#231;&amp;#227;o S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Odontoprev S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dental care&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Leasing S.A. Arrendamento Mercantil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leasing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#193;gora Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco S.A. Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Sa&amp;#250;de S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance / Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Seguros S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesplan Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;BRAM - Bradesco Asset Management S.A. DTVM&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tempo Servi&amp;#231;os Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Uni&amp;#227;o Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Losango S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Administradora de Cons&amp;#243;rcios Ltda (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Bank Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Kirton Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Capitaliza&amp;#231;&amp;#227;o S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Seguros S.A. (4) (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.54%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.08%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Participa&amp;#231;&amp;#245;es e Investimentos Ltda (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In November, 2017, Banco Boavista Interatl&amp;#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In May 2017, Kirton Administradora de Cons&amp;#243;rcios Ltda. was merged into Bradesco Administradora de Cons&amp;#243;rcios Ltda.; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest, by means of acquisition of shares held by minority shareholders; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest by means of subscription of shares in July 2017; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(5)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Company merged into Kirton Seguros S.A., in July 2017.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsidiaries&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsidiaries are all of the companies over which the Organization, has control. The Organization has control over an investee if it is exposed to, or has rights to, variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The subsidiaries are fully consolidated from the date at which the Organization obtains control over its activities until the date this control ceases.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For acquisitions meeting the definition of a business combination, the acquisition method of accounting is used. The cost of an acquisition is measured as the fair value of the consideration, including assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date, irrespective of the extent of any non-controlling interest. The excess of the consideration given over the fair value of the Organization&amp;#39;s share of the identifiable net assets and non-controlling interest acquired is recorded as goodwill. Any goodwill arising from business combinations is tested for impairment at least once a year and whenever events or changes in circumstances may indicate the need for an impairment write-down. If the cost of acquisition is less than the fair value of the Organization&amp;#39;s share of the net assets acquired, the difference is recognized directly in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For acquisitions not meeting the definition of a business combination, the Organization allocates the cost between the individual identifiable assets and liabilities. The cost of acquired assets and liabilities is determined by (a) recognizing financial assets and liabilities at their fair value at the acquisition date; and (b) allocating the remaining balance of the cost of purchasing assets and assuming liabilities to individual assets and liabilities, other than financial instruments, based on their relative fair values&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;of these instruments at the acquisition date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Associates&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Companies are classified as associates if the Organization has significant influence, but not control, over the operating and financial management policy decisions. Normally significant influence is presumed when the Organization holds in excess of 20%, but no more than 50%, of the voting rights. Even if less than 20% of the voting rights are held, the Organization could still have significant influence through its participation in the management of the investee or representations on its Board of Directors, providing it has executive power; i.e. voting power.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments in associates are recorded in the Organization&amp;#39;s consolidated financial statements using the equity method and are initially recognized at cost. The investments in associates include goodwill (net of any impairment losses) identified at the time of acquisition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Joint ventures &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has contractual agreements in which two or more parties undertake activities subject to joint control. Joint control is the contractual sharing of control over an activity and it exists only if strategic, financial and operating decisions are made on a unanimous basis by the parties. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the arrangement, rather than rights to its assets and obligations for its liabilities. Investments in joint ventures are recorded in the consolidated financial statements of the Organization using the equity method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Structured entities &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A structured entity is an entity that has been designed such that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only and the relevant activities are directed by means of contractual arrangements.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Structured entities normally have some or all of the following features or characteristics:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;restricted activities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a narrow and well-defined objective, such as, to effect a specific structure like a tax efficient lease, to perform research and development activities, or to provide a source of capital or funding to an entity or to provide investment opportunities for investors by passing risks and rewards associated with the assets of the structured entity to investors;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;thin capitalisation, that is, the proportion of &amp;#8216;real&amp;#39; equity is too small to support the structured entity&amp;#39;s overall activities without subordinated financial support; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;financing in the form of multiple contractually linked instruments to investors that create concentrations of credit risk or other risks (tranches).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:85.05pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transactions with and interests of non-controlling shareholders &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization applies a policy of treating transactions with non-controlling interests as transactions with equity owners of the Bank. For purchases of equity from non-controlling interests, the difference between any consideration paid and the share of the carrying value of net assets of the subsidiary acquired is recorded in equity. Gains or losses on sales to non-controlling shareholders are also recorded in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Profits or losses attributable to non-controlling interests are presented in the consolidated statements of income under this title. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Balances and transactions eliminated in the consolidation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Intra-group transactions and balances (except for foreign currency transaction gains and losses) are eliminated in the consolidation process, including any unrealized profits or losses resulting from operations between the companies except when unrealized losses indicate an impairment loss of the asset transferred which should be recognized in the consolidated financial&amp;#160; statements. Consistent accounting policies as well as similar valuation methods for similar transactions, events and circumstances are used throughout the Organization for the purposes of consolidation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForConsolidationTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923253&quot; /&gt;&lt;a name=&quot;_Toc474919304&quot; /&gt;&lt;a name=&quot;_Toc415565831&quot; /&gt;&lt;a name=&quot;_Toc415499810&quot; /&gt;&lt;a name=&quot;_Toc415498645&quot; /&gt;&lt;a name=&quot;_Toc415498521&quot; /&gt;&lt;a name=&quot;_Toc415498292&quot; /&gt;&lt;a name=&quot;_Toc413337820&quot; /&gt;&lt;a name=&quot;_Toc412626152&quot; /&gt;&lt;a name=&quot;_Toc381783332&quot; /&gt;&lt;a name=&quot;_Toc379874052&quot; /&gt;&lt;a name=&quot;_Toc355707582&quot; /&gt;&lt;a name=&quot;_Toc351013963&quot; /&gt;&lt;a name=&quot;_Toc320264310&quot; /&gt;&lt;a name=&quot;_Toc318995663&quot; /&gt;&lt;a name=&quot;_Toc318995461&quot; /&gt;&lt;a name=&quot;_Toc316896242&quot; /&gt;&lt;a name=&quot;_Toc312767218&quot; /&gt;&lt;a name=&quot;_Toc289782399&quot; /&gt;&lt;a name=&quot;_Toc285698313&quot; /&gt;&lt;a name=&quot;_Toc285642794&quot; /&gt;&lt;a name=&quot;_Toc285538660&quot; /&gt;&lt;a name=&quot;_Toc285477021&quot; /&gt;&lt;a name=&quot;_Toc285472560&quot; /&gt;&lt;a name=&quot;_Toc284885024&quot; /&gt;&lt;a name=&quot;_Toc284697530&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.3&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Foreign currency translation &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Functional and presentation currency&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Items included in the financial statements of each of the Organization&amp;#39;s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in Brazilian Reais (R$), which is the Organization&amp;#39;s presentation currency. The domestic and foreign subsidiaries use the Real as their functional currency, with the exception of the subsidiary in Mexico, which uses the Mexican Peso as its functional currency.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Transactions and balances &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Foreign currency transactions, which are denominated or settled in a foreign currency, are translated into the functional currency using the exchange rates prevailing on the dates of the transactions. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Monetary items denominated in foreign currency are translated at the closing exchange rate as at the reporting date. Non-monetary items measured at historical cost denominated in a foreign currency are translated at the exchange rate on the date of initial recognition; non-monetary items in a foreign currency that are measured at fair value are translated using the exchange rates on the date when the fair value was determined. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at each period exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income as &amp;#8220;Net gains/(losses) of foreign currency transactions&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the case of changes in the fair value of monetary assets denominated in foreign currency classified as available for sale, a distinction is made between translation differences resulting from changes in amortized cost of the security and other changes in the carrying amount of the security. Translation differences related to changes in the amortized cost are recognized in the consolidated statement of income, and other changes in the carrying amount, except impairment, are recognized in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Foreign operations &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The results and financial position of all foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the reporting date; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income and expenses for each consolidated statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rate prevailing on the transaction dates, in which case income and expenses are translated at the rates in effect on the dates of the transactions); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All resulting exchange differences are recognized in other comprehensive income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Exchange differences arising from the above process are reported in equity as &amp;#8220;Foreign currency translation adjustment&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to &amp;#8216;Other comprehensive income&amp;#39;. If the operation is a non-wholly owned subsidiary, then the relevant proportion of the transaction difference is allocated to the non-controlling interest. When a foreign operation is partially sold or disposed, such exchange differences, which were recognized in equity, are recognized in the consolidated statement of income as part of the gain or loss on sale. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923254&quot; /&gt;&lt;a name=&quot;_Toc474919305&quot; /&gt;&lt;a name=&quot;_Toc415565832&quot; /&gt;&lt;a name=&quot;_Toc415499811&quot; /&gt;&lt;a name=&quot;_Toc415498646&quot; /&gt;&lt;a name=&quot;_Toc415498522&quot; /&gt;&lt;a name=&quot;_Toc415498293&quot; /&gt;&lt;a name=&quot;_Toc413337821&quot; /&gt;&lt;a name=&quot;_Toc412626153&quot; /&gt;&lt;a name=&quot;_Toc381783333&quot; /&gt;&lt;a name=&quot;_Toc379874053&quot; /&gt;&lt;a name=&quot;_Toc355707583&quot; /&gt;&lt;a name=&quot;_Toc351013964&quot; /&gt;&lt;a name=&quot;_Toc320264311&quot; /&gt;&lt;a name=&quot;_Toc318995664&quot; /&gt;&lt;a name=&quot;_Toc318995462&quot; /&gt;&lt;a name=&quot;_Toc316896243&quot; /&gt;&lt;a name=&quot;_Toc312767219&quot; /&gt;&lt;a name=&quot;_Toc289782400&quot; /&gt;&lt;a name=&quot;_Toc285698314&quot; /&gt;&lt;a name=&quot;_Toc285642795&quot; /&gt;&lt;a name=&quot;_Toc285538661&quot; /&gt;&lt;a name=&quot;_Toc285477022&quot; /&gt;&lt;a name=&quot;_Toc285472561&quot; /&gt;&lt;a name=&quot;_Toc284885025&quot; /&gt;&lt;a name=&quot;_Toc284697532&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.4&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Cash and cash equivalents&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Cash and cash equivalents include: cash, bank deposits, unrestricted balances held with the Central Bank of Brazil and other highly liquid short-term investments, with original maturities of three months or less and &amp;#160;which are subject to insignificant risk of changes in fair value, used by the Organization to manage its short-term commitments. See Note 19(b) - &amp;#8220;Cash and cash equivalents&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923255&quot; /&gt;&lt;a name=&quot;_Toc474919306&quot; /&gt;&lt;a name=&quot;_Toc415565833&quot; /&gt;&lt;a name=&quot;_Toc415499812&quot; /&gt;&lt;a name=&quot;_Toc415498647&quot; /&gt;&lt;a name=&quot;_Toc415498523&quot; /&gt;&lt;a name=&quot;_Toc415498294&quot; /&gt;&lt;a name=&quot;_Toc413337822&quot; /&gt;&lt;a name=&quot;_Toc412626154&quot; /&gt;&lt;a name=&quot;_Toc381783334&quot; /&gt;&lt;a name=&quot;_Toc379874054&quot; /&gt;&lt;a name=&quot;_Toc355707584&quot; /&gt;&lt;a name=&quot;_Toc351013965&quot; /&gt;&lt;a name=&quot;_Toc320264312&quot; /&gt;&lt;a name=&quot;_Toc318995665&quot; /&gt;&lt;a name=&quot;_Toc318995463&quot; /&gt;&lt;a name=&quot;_Toc316896245&quot; /&gt;&lt;a name=&quot;_Toc312767220&quot; /&gt;&lt;a name=&quot;_Toc289782401&quot; /&gt;&lt;a name=&quot;_Toc285698315&quot; /&gt;&lt;a name=&quot;_Toc285642796&quot; /&gt;&lt;a name=&quot;_Toc285538662&quot; /&gt;&lt;a name=&quot;_Toc285477023&quot; /&gt;&lt;a name=&quot;_Toc285472562&quot; /&gt;&lt;a name=&quot;_Toc284885026&quot; /&gt;&lt;a name=&quot;_Toc284697533&quot; /&gt;&lt;a name=&quot;_Toc316896244&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.5&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Sale and repurchase agreements&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Securities sold subject to repurchase agreements are presented in the consolidated financial statements in &amp;#8220;Financial assets pledged as collateral&amp;#8221;. The counterparty liability is included in &amp;#8220;Deposits from Banks&amp;#8221;. Securities purchased under agreements to resell are recorded in &amp;#8220;Loans and advances to banks&amp;#8221; or &amp;#8220;Loans and advances to customers&amp;#8221;, as appropriate. The difference between sale and repurchase price is treated as interest in the consolidated statement of income and recognized over the life of the agreements using the effective interest rate method. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923256&quot; /&gt;&lt;a name=&quot;_Toc474919307&quot; /&gt;&lt;a name=&quot;_Toc415565834&quot; /&gt;&lt;a name=&quot;_Toc415499813&quot; /&gt;&lt;a name=&quot;_Toc415498648&quot; /&gt;&lt;a name=&quot;_Toc415498524&quot; /&gt;&lt;a name=&quot;_Toc415498295&quot; /&gt;&lt;a name=&quot;_Toc413337823&quot; /&gt;&lt;a name=&quot;_Toc412626155&quot; /&gt;&lt;a name=&quot;_Toc381783335&quot; /&gt;&lt;a name=&quot;_Toc379874055&quot; /&gt;&lt;a name=&quot;_Toc355707585&quot; /&gt;&lt;a name=&quot;_Toc351013966&quot; /&gt;&lt;a name=&quot;_Toc320264313&quot; /&gt;&lt;a name=&quot;_Toc318995666&quot; /&gt;&lt;a name=&quot;_Toc318995464&quot; /&gt;&lt;a name=&quot;_Toc316896246&quot; /&gt;&lt;a name=&quot;_Toc312767221&quot; /&gt;&lt;a name=&quot;_Toc289782402&quot; /&gt;&lt;a name=&quot;_Toc285698316&quot; /&gt;&lt;a name=&quot;_Toc285642797&quot; /&gt;&lt;a name=&quot;_Toc285538663&quot; /&gt;&lt;a name=&quot;_Toc285477024&quot; /&gt;&lt;a name=&quot;_Toc285472563&quot; /&gt;&lt;a name=&quot;_Toc284885027&quot; /&gt;&lt;a name=&quot;_Toc284697534&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.6&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Financial assets and liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization classifies financial assets in the following four categories: measured at fair value through profit or loss; available for sale; held to maturity and loans and receivables. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of financial assets upon initial recognition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;margin-right:46.75pt;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;line-height:115%;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Measured at fair value through profit or loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets are initially recorded at fair value with subsequent changes to the fair value&amp;#160; recognized immediately in profit or loss. These assets can be subdivided into two distinct classifications at the time of initial recognition: financial assets designated&lt;/font&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;at fair value through profit or loss and financial assets held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets designated at fair value through profit or loss &lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization does not have any financial assets designated at fair value through profit or loss. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets held for trading (non-derivatives)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A financial asset is classified as held for trading if it is acquired by Management for the purpose of selling it in the short term or if it is part of a portfolio of identified financial instruments that are managed together for short-term profit or position taking. Derivative financial instruments are also categorized as held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-7.1pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets held for trading are initially recognized in the consolidated statement of financial position at fair value and the transaction costs are recorded directly in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Realized and unrealized gains and losses arising from changes in fair value of non derivative assets are recognized directly in the consolidated statement of income under &amp;#8220;Net gains and losses from financial instruments held for trading.&amp;#8221; Interest income on financial assets held for trading are included in &amp;#8220;Net interest income&amp;#8221;. For the treatment of derivative assets see Note 2(f)(iii).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available-for-sale are non-derivative financial assets that are intended to be held for an undefined period of time, which may be sold in response to needs for liquidity or changes in interest rates, exchange rates, equity prices or that are not classified as loans and receivables, held-to-maturity investments or financial assets at fair value through profit or loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available-for-sale are initially recognized at fair value, which is the cash consideration including any transaction costs and, subsequently, are measured at fair value with gains and losses being recognized in the consolidated statement of other comprehensive income, except for impairment losses and foreign exchange gains and losses on debt securities, until the financial asset is derecognized. If a financial asset available-for-sale is determined to be impaired, the cumulative gain or loss previously recognized in other comprehensive income is recognized in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest is recognized in the consolidated statement of income using the effective interest method. Dividends on available-for-sale equity instruments are recognized in the consolidated statement of income in &amp;#8216;Dividend income&amp;#39; when the Organization&amp;#39;s right to receive payment is established. Exchange gains and losses on investments in debt securities classified as available for sale are recognized in the consolidated statement of income. See Note 2(f)(viii) for more details of the treatment of impairment losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity are non-derivative financial assets with fixed or determinable payments and fixed term maturities, which the Organization has the positive intention and ability to hold to maturity, and are not designated as at fair value through profit or loss or available for sale and do not meet the definition of loans and receivables.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity are recognized initially at fair value including direct and incremental costs, and are subsequently recorded at amortized cost, using the effective interest rate method. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest on investments held-to-maturity is included in the consolidated statement of income and reported as &amp;#8216;Interest and similar income&amp;#39;. In the case of impairment, the impairment loss is reported as a deduction from the carrying value of the investment and is recognized in the consolidated statement of income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are non-derivative financial assets having fixed or determinable payments that are not quoted in an active market, that have not been designated as &amp;#8220;available for sale&amp;#8221; or &amp;#8220;at fair value through profit or loss&amp;#8221; and that the Organization has no intention of selling, either immediately or in the near term.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are initially measured at their fair value plus direct transaction costs and are subsequently valued at amortized cost using the effective interest rate method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and receivables are reported in the consolidated statement of financial position as loans and advances to banks or customers. Interest on loans is included in the consolidated statement of income and is reported as &amp;#8220;Interest and similar income&amp;#8221;. In the case of impairment, the impairment loss is reported as a deduction in carrying amount of loans and advances, and is recognized in the consolidated statement of income as &amp;#8220;Impairment of loans and advances&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization classifies its financial liabilities under the following categories: measured at fair value through profit and loss and amortized cost.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Measured at fair value through profit and loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These financial liabilities are recorded and measured at fair value and the respective changes in fair value are immediately recognized in the income statement. These liabilities can be subdivided into two different classifications upon initial recognition: financial liabilities designated at fair value through profit and loss and financial liabilities held for trading.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities designated at fair value through profit and loss&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization does not have any financial liability classified at fair value through profit and loss in income. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New (W1),serif;font-size:10.0pt;line-height:115%;&quot;&gt;-&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities held for trading recognized by the Organization are derivative financial instruments. For the treatment of derivatives see Note 2(f)(iii). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities at amortized cost&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These are financial liabilities that are not classified as at fair value through profit or loss. Initially they are recognized at fair value and, subsequently, are measured at amortized cost. They include deposits from banks and customers, securities issued and subordinated debt securities, among others.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivative financial instruments and hedge transactions&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivatives are initially recognized at fair value on the date the derivative contract is signed and are, subsequently, re-measured at their fair values with the changes recognized in the income statement under &amp;#8220;Net gains and losses from financial instruments for trading.&amp;#8221; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fair values are obtained from quoted market prices in active markets (for example, for exchange-traded options), including recent market transactions, and valuation techniques (for example for swaps and foreign currency transactions), such as discounted cash-flow models and options-pricing models, as appropriate. The calculation of fair value, the counterparty&amp;#39;s and the entity&amp;#39;s own credit risk are considered.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Certain derivatives embedded in other financial instruments are treated as separate derivatives when their economic characteristics and risks are not closely related to those of the host contract and the host contract is not recorded at fair value through profit or loss. These embedded derivatives are separately accounted for at fair value, with changes in fair value recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Initially, the Organization recognizes loans and advances, deposits, securities issued and subordinated debts and other financial assets and liabilities on the trade date, in accordance with the contractual provisions of the instrument.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derecognition&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets are derecognized when the contractual rights to receive the cash flows from these assets have ceased to exist or the assets have been transferred and substantially all the risks and rewards of ownership of the assets are also transferred. Financial liabilities are derecognized when they have been discharged, paid, redeemed, cancelled or expired. If a renegotiation or modification of terms of an existing financial asset is such that the cash flows of the modified asset are substantially different from those of the original unmodified asset, then the original financial asset is derecognised and the modified financial asset is recognised as a new financial asset and initially measured at fair value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Offsetting financial instruments &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets and liabilities are offset and the net amount reported in the consolidated statement of financial position when, the Organization has the intention and the legal enforceable right to offset the recognized amounts on a net basis or realize the asset and settle the liability simultaneously.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Determination of fair value&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The determination of the fair values for the majority of financial assets and liabilities is based on the market price or quotes of security dealers for financial instruments traded in an active market. The fair value for other instruments is determined using valuation techniques. The valuation techniques which include use of recent market transactions, discounted cash flow method, comparison with other instruments similar to those for which there are observable market prices and valuation models.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For more common other instruments the Organization uses widely accepted valuation models that consider observable market data in order to determine the fair value of financial instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For more complex instruments, the Organization uses own models that are usually developed from standard valuation models. Some of the information included in the models may not be observable in the market and is derived from market prices or rates or may be estimated on the basis of assumptions. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The value produced by a model or by a valuation technique is adjusted to reflect various factors, since the valuation techniques do not necessarily reflect all of the factors that market participants take into account during a transaction.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The valuations are adjusted to consider the risks of the models, differences between the buy and sell price, credit and liquidity risks, as well as other factors. Management believes that such valuation adjustments are necessary and appropriate for the correct evaluation of the fair value of the financial instruments recorded in the consolidated statement of financial position.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of financial assets &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.75pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(a)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets recognized at amortized cost &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;On each reporting date, the Organization assesses whether there is objective evidence that financial assets are impaired. The impairment losses are recognized only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a &amp;#8216;loss event&amp;#39;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The criteria that the Organization uses to determine that there is objective evidence of an impairment include: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;significant financial difficulty of the issuer or obligor; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a breach of contract, such as a default or delinquency in interest or principal payments;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the granting to the borrower of a concession that the lender would not otherwise consider for economic or legal reasons relating to the borrower&amp;#39;s financial difficulty; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;when it becomes probable that the borrower will enter bankruptcy or other financial reorganization; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the disappearance of an active market for that financial asset because of financial difficulties; or &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:99.8pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;observable data indicating that there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the loss event cannot yet be identified at the level of the individual financial assets in the portfolio, including:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:127.6pt;margin-right:0in;margin-top:0in;text-indent:-21.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;adverse changes in the payment status of group assessed borrowers; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:127.6pt;margin-right:0in;margin-top:0in;text-indent:-21.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;national or local economic conditions that correlate with defaults in the assets. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization takes into consideration evidence of impairment loss for both individually significant assets and groups of assets. All significant financial assets are evaluated to detect specific losses. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;All significant assets for which the assessment indicates that there is no specific impairment are assessed as a group to detect any impairment loss that may have occurred, although not yet identified. The financial assets which are not individually significant are assessed as a group to detect any collective impairment loss (recorded at the amortized cost) based on similar risk features. Assets that are individually assessed for impairment and for which an impairment loss is recognized are not included in a collective assessment of impairment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The amount of loss is measured as the difference between the asset&amp;#39;s carrying amount and the present value of estimated future cash flows (excluding future credit losses that have not been incurred) discounted at the financial asset&amp;#39;s original effective interest rate. The carrying amount of the asset is reduced through provisions and the amount of the loss is recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of the present value of the estimated future cash flows of a collateralized financial asset reflects the cash flows that may result from foreclosure less costs for obtaining and selling the collateral.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the purposes of a collective evaluation of impairment, financial assets are grouped on the basis of similar credit-risk characteristics (that is, on the basis of the Organization&amp;#39;s rating process that considers product type, market segment, geographical location, collateral type, past-due status and other related factors). Those characteristics are relevant to the estimation of future cash flows for groups of such assets by being indicative of the debtors&amp;#39; ability to pay all amounts due according to the contractual terms of the assets being evaluated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Future cash flows in a group of financial assets that are collectively evaluated for impairment are estimated on the basis of the contractual cash flows of the assets in the group and historical loss experience for assets with credit-risk characteristics similar to those in the group. Historical loss experience is adjusted on the basis of current observable data to reflect the effects of current conditions that did not affect the period on which the historical loss experience is based and to remove the effects of conditions in the historical period that do not currently exist.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The methodology and assumptions used for estimating future cash flows are reviewed regularly to mitigate any differences between loss estimates and actual loss experience.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Following impairment losses, interest income is recognized using the effective rate of interest which was used to discount the future cash flows for the purpose of measuring the impairment loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When a loan is uncollectible, it is written off against the related allowance for loan impairment. Such loans are written off after all the relevant collection procedures have been completed and the amount of the loss has been determined. Subsequent recoveries of amounts previously written off are credited to the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:74.75pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(b)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets classified as available for sale &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization assesses, at each reporting date, whether there is objective evidence that a financial asset or group of financial assets is impaired. For debt securities the Organization adopts the assessment described in item (a) above, in order to identify an impairment event.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In the case of equity investments classified as available for sale, a significant or prolonged decline in the fair value of the security below its cost is considered objective evidence of impairment resulting in the recognition of an impairment loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;If any such evidence exists for available-for- sale financial assets, the cumulative loss - measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss - is removed from equity and recognized in the income statement.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;If, in a subsequent period, the fair value increases, for debt instrument classified as available for sale, and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss is reversed through the consolidated statement of income. Impairment losses recognized in the consolidated statement of income on equity instruments are not reversed through the consolidated statement of income. Increases in the fair value of equity instruments after impairment are recognized in other comprehensive income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923257&quot; /&gt;&lt;a name=&quot;_Toc474919308&quot; /&gt;&lt;a name=&quot;_Toc415565835&quot; /&gt;&lt;a name=&quot;_Toc415499814&quot; /&gt;&lt;a name=&quot;_Toc415498649&quot; /&gt;&lt;a name=&quot;_Toc415498525&quot; /&gt;&lt;a name=&quot;_Toc415498296&quot; /&gt;&lt;a name=&quot;_Toc413337824&quot; /&gt;&lt;a name=&quot;_Toc412626156&quot; /&gt;&lt;a name=&quot;_Toc381783336&quot; /&gt;&lt;a name=&quot;_Toc379874056&quot; /&gt;&lt;a name=&quot;_Toc355707586&quot; /&gt;&lt;a name=&quot;_Toc351013967&quot; /&gt;&lt;a name=&quot;_Toc320264314&quot; /&gt;&lt;a name=&quot;_Toc318995667&quot; /&gt;&lt;a name=&quot;_Toc318995465&quot; /&gt;&lt;a name=&quot;_Toc316896247&quot; /&gt;&lt;a name=&quot;_Toc312767222&quot; /&gt;&lt;a name=&quot;_Toc289782403&quot; /&gt;&lt;a name=&quot;_Toc285698317&quot; /&gt;&lt;a name=&quot;_Toc285642798&quot; /&gt;&lt;a name=&quot;_Toc285538664&quot; /&gt;&lt;a name=&quot;_Toc285477025&quot; /&gt;&lt;a name=&quot;_Toc285472564&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.7&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Non-current assets held for sale &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Under certain circumstances, property is repossessed following foreclosure of loans that are in default. Repossessed properties are measured at the lower of their carrying amount and fair value less the costs to sell and are included within &amp;#8220;Non-current assets held for sale.&amp;#8221; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923258&quot; /&gt;&lt;a name=&quot;_Toc474919309&quot; /&gt;&lt;a name=&quot;_Toc415565836&quot; /&gt;&lt;a name=&quot;_Toc415499815&quot; /&gt;&lt;a name=&quot;_Toc415498650&quot; /&gt;&lt;a name=&quot;_Toc415498526&quot; /&gt;&lt;a name=&quot;_Toc415498297&quot; /&gt;&lt;a name=&quot;_Toc413337825&quot; /&gt;&lt;a name=&quot;_Toc412626157&quot; /&gt;&lt;a name=&quot;_Toc381783339&quot; /&gt;&lt;a name=&quot;_Toc379874059&quot; /&gt;&lt;a name=&quot;_Toc355707589&quot; /&gt;&lt;a name=&quot;_Toc351013970&quot; /&gt;&lt;a name=&quot;_Toc320264317&quot; /&gt;&lt;a name=&quot;_Toc318995670&quot; /&gt;&lt;a name=&quot;_Toc318995468&quot; /&gt;&lt;a name=&quot;_Toc316896250&quot; /&gt;&lt;a name=&quot;_Toc312767225&quot; /&gt;&lt;a name=&quot;_Toc289782406&quot; /&gt;&lt;a name=&quot;_Toc285698320&quot; /&gt;&lt;a name=&quot;_Toc285642801&quot; /&gt;&lt;a name=&quot;_Toc285538667&quot; /&gt;&lt;a name=&quot;_Toc285477028&quot; /&gt;&lt;a name=&quot;_Toc285472567&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.8&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Property and equipment&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition and valuation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses (see Note 2(k) below), if any.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cost includes expenses directly attributable to the acquisition of an asset.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cost of assets internally produced includes the cost of materials and direct labor, as well as any other costs that can be directly allocated and that are necessary for them to function. Software acquired for the operation of the related equipment is recorded as part of the equipment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When different parts of an item have different useful lives, and separate control is practical, they are recorded as separate items (main components) comprising the property and equipment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Gains and losses from the sale of &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; are determined by comparing proceeds received with the carrying amount of the asset and are recorded in the consolidated income statement under the heading &amp;#8220;Other operating income/(expenses).&amp;#8221;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsequent costs&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization for more than one year and the cost can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance costs are charged to the consolidated statement of income during the reporting period in which they are incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation is recognized in the consolidated statement of income using the straight-line basis and taking into consideration the estimated useful economic life of the assets. The depreciable amount is the gross-carrying amount, less the estimated residual value at the end of the useful economic life. Land is not depreciated. Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923259&quot; /&gt;&lt;a name=&quot;_Toc474919310&quot; /&gt;&lt;a name=&quot;_Toc415565837&quot; /&gt;&lt;a name=&quot;_Toc415499816&quot; /&gt;&lt;a name=&quot;_Toc415498651&quot; /&gt;&lt;a name=&quot;_Toc415498527&quot; /&gt;&lt;a name=&quot;_Toc415498298&quot; /&gt;&lt;a name=&quot;_Toc413337826&quot; /&gt;&lt;a name=&quot;_Toc412626158&quot; /&gt;&lt;a name=&quot;_Toc381783340&quot; /&gt;&lt;a name=&quot;_Toc379874060&quot; /&gt;&lt;a name=&quot;_Toc355707590&quot; /&gt;&lt;a name=&quot;_Toc351013971&quot; /&gt;&lt;a name=&quot;_Toc320264318&quot; /&gt;&lt;a name=&quot;_Toc318995671&quot; /&gt;&lt;a name=&quot;_Toc318995469&quot; /&gt;&lt;a name=&quot;_Toc316896251&quot; /&gt;&lt;a name=&quot;_Toc312767226&quot; /&gt;&lt;a name=&quot;_Toc289782407&quot; /&gt;&lt;a name=&quot;_Toc285698321&quot; /&gt;&lt;a name=&quot;_Toc285642802&quot; /&gt;&lt;a name=&quot;_Toc285538668&quot; /&gt;&lt;a name=&quot;_Toc285477029&quot; /&gt;&lt;a name=&quot;_Toc285472568&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.9&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Intangible assets &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Intangible assets comprise separately identifiable non-monetary items, without physical substance due to business combinations, such as goodwill and other purchase intangible assets, computer software and other such intangible assets. Intangible assets are recognized at cost. The cost of an intangible asset, acquired in a business combination, is its fair value at the date of acquisition. Intangible assets with a definite useful life are amortized over their estimated useful economic life. Intangible assets with an indefinite useful life are not amortized. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Generally, the identified intangible assets of the Organization have a definite useful life. At each reporting date, intangible assets are reviewed for indications of impairment or changes in estimated future economic benefits - see Note 2(k) below.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill (or bargain purchase gain) arises on the acquisition of subsidiaries, associates and joint ventures.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill reflects the excess of the cost of acquisition in relation to the Organization&amp;#39;s share of the fair value of net identifiable assets or liabilities of an acquired subsidiary, associate or joint venture on the date of acquisition. Goodwill originated from the acquisition of subsidiaries is recognized as &amp;#8220;Intangible Assets&amp;#8221;, and the goodwill from acquisition of associates and joint ventures is included in the carrying amount of the investment, (see Note 2(b)(ii)). When the difference between the cost of acquisition and the Organization&amp;#39;s share of the fair value of net identifiable assets or liabilities is negative (bargain purchase gain), it is immediately recognized in the consolidated statement of income as a gain on the acquisition date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Goodwill is tested annually, as well as whenever a trigger event has been observed, for impairment (see Note 2(k) below). Gains and losses realized in the sale of an entity include consideration of the carrying amount of goodwill relating to the entity sold. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Software&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Software acquired by the Organization is recorded at cost, less accumulated amortization and accumulated impairment losses, if any. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Internal software-development expenses are recognized as assets when the Organization can demonstrate its intention and ability to complete the development, and use the software in order to generate future economic benefits. The capitalized costs of internally developed software include all costs directly attributable to development and are amortized over their useful lives. Internally developed software is recorded at its capitalized cost less amortization and impairment losses (see Note 2(k) below).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Subsequent software expenses are capitalized only when they increase the future economic benefits incorporated in the specific asset to which it relates. All other expenses are recorded as expenses as incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Amortization is recognized in the consolidated statement of income using the straight-line method over the estimated useful life of the software, beginning on the date that it becomes available for use. The estimated useful life of software is from two to five years. Useful lives and residual values are reviewed at each reporting date and adjusted, if necessary.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other intangible assets&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other intangible assets refer basically to the customer portfolio and acquisition of banking service rights. They are recorded at cost less amortization and impairment losses, if any, and are amortized for the period in which the asset is expected to contribute, directly or indirectly, to the future cash flows. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These intangible assets are reviewed annually, or whenever events or changes in circumstances occur which could indicate that the carrying amount of the assets cannot be recovered. If necessary, the write-off or impairment (see Note 2(k) below) is immediately recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory>
<!-- ELement Id ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory -->
  <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923260&quot; /&gt;&lt;a name=&quot;_Toc474919311&quot; /&gt;&lt;a name=&quot;_Toc415565838&quot; /&gt;&lt;a name=&quot;_Toc415499817&quot; /&gt;&lt;a name=&quot;_Toc415498652&quot; /&gt;&lt;a name=&quot;_Toc415498528&quot; /&gt;&lt;a name=&quot;_Toc415498299&quot; /&gt;&lt;a name=&quot;_Toc413337827&quot; /&gt;&lt;a name=&quot;_Toc412626159&quot; /&gt;&lt;a name=&quot;_Toc381783341&quot; /&gt;&lt;a name=&quot;_Toc379874061&quot; /&gt;&lt;a name=&quot;_Toc355707591&quot; /&gt;&lt;a name=&quot;_Toc351013972&quot; /&gt;&lt;a name=&quot;_Toc320264319&quot; /&gt;&lt;a name=&quot;_Toc318995672&quot; /&gt;&lt;a name=&quot;_Toc318995470&quot; /&gt;&lt;a name=&quot;_Toc316896252&quot; /&gt;&lt;a name=&quot;_Toc312767227&quot; /&gt;&lt;a name=&quot;_Toc289782408&quot; /&gt;&lt;a name=&quot;_Toc285698322&quot; /&gt;&lt;a name=&quot;_Toc285642803&quot; /&gt;&lt;a name=&quot;_Toc285538669&quot; /&gt;&lt;a name=&quot;_Toc285477030&quot; /&gt;&lt;a name=&quot;_Toc285472569&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.10&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Leasing&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization has both operating and finance leases and operates as a lessee and a lessor.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Leases in which a significant part of the risks and benefits of the asset is borne by the lessor are classified as operating leases. For leases in which a significant part of the risks and benefits of the asset is borne by the lessee, the leases are classified as financial lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Leases under the terms of which the Organization assumes substantially all the risks and rewards of ownership are classified as finance leases. Upon initial recognition, the leased asset is measured at an amount equal to the lower of its fair value and the present value of the minimum lease payments. Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that asset.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As a lessee, the Organization classifies its leasing operations mainly as operating leases, and the monthly payments are recognized in the financial statements using the straight-line method over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term of the lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;When an operating lease is terminated before the contract expires, any payment that may be made to the lessor in the form of a penalty is recognized as an expense for the period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. The finance expense is allocated to each period during the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent lease payments are accounted for by revising the minimum lease payments over&amp;#160; the remaining term of the lease when the lease adjustment is confirmed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As a lessor, the Organization has substantial finance lease contracts, both in value and total number of contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Finance Leases&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:28.35pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Finance lease assets in the consolidated statement of financial position are initially recognized in the &amp;#8220;loans and advances&amp;#8221; account at an amount equal to the net investment in the lease.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The initial direct costs generally incurred by the Organization are included in the initial measurement of the lease receivable and recognized as part of the effective interest rate of the contract, decreasing the amount of income recognized over the lease term. These initial costs include amounts for commissions, legal fees and internal costs. The costs incurred in relation to the negotiation, structuring and sales of leases are excluded from the definition of initial direct costs and therefore are recognized as expenses at the beginning of the lease term.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Recognition of financial revenue reflects a constant rate of return on the net investment made by the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The estimated non-guaranteed residual values used in the calculation of the gross investment of the lessor in the lease are reviewed at least annually. If there is a decrease in the estimated non-guaranteed residual value, the income allocated over the period of the lease is also reviewed periodically and any decrease in relation to the accumulated values is immediately recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:28.35pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:1.0pt;margin-left:42.55pt;margin-right:0in;margin-top:1.0pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Operating leases&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The assets&lt;/font&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;leased under operating leases, where the Organization acts as lessor, are recognized in the consolidated statement of financial position as property and equipment according to the nature of the item leased.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The initial direct costs incurred by the Organization are added to the carrying amount of the leased asset and are recognized as expenses over the period of the lease and on the same basis as the income recognition.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenue from lease is recognized using the straight-line method over the term of the lease, even if the payments are not made on the same basis. Costs, including depreciation and maintenance, incurred in the generation of income are recognized as expenses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The depreciation policy for leased assets is the same as the depreciation policy used by the Organization for similar assets.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-33.55pt;&quot;&gt;&lt;a name=&quot;_Toc474923261&quot; /&gt;&lt;a name=&quot;_Toc474919312&quot; /&gt;&lt;a name=&quot;_Toc415565839&quot; /&gt;&lt;a name=&quot;_Toc415499818&quot; /&gt;&lt;a name=&quot;_Toc415498653&quot; /&gt;&lt;a name=&quot;_Toc415498529&quot; /&gt;&lt;a name=&quot;_Toc415498300&quot; /&gt;&lt;a name=&quot;_Toc413337828&quot; /&gt;&lt;a name=&quot;_Toc412626160&quot; /&gt;&lt;a name=&quot;_Toc381783342&quot; /&gt;&lt;a name=&quot;_Toc379874062&quot; /&gt;&lt;a name=&quot;_Toc355707592&quot; /&gt;&lt;a name=&quot;_Toc351013973&quot; /&gt;&lt;a name=&quot;_Toc320264320&quot; /&gt;&lt;a name=&quot;_Toc318995673&quot; /&gt;&lt;a name=&quot;_Toc318995471&quot; /&gt;&lt;a name=&quot;_Toc316896253&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.11&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Impairment losses on non-financial assets (except for deferred tax assets)&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets that have an indefinite useful life such as goodwill are not subject to amortization and are tested, at least, annually at the same date to verify the existence of impairment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Assets, which are subject to amortization or depreciation, are reviewed to verify impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized based on the excess the carrying amount of the &amp;#160;asset or the cash generating unit (CGU) over its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its fair value, less costs to sell, and its value in use.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For the purpose of impairment testing, the assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to a ceiling of the operating segments, for the purpose of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGU&amp;#39;s that are expected to benefit from the synergies of the combination. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The recoverable amount is the higher of an asset/CGU&amp;#39;s fair value less costs to sell and its value in use. When assessing the value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects the current market conditions of the time value of money and the specific risks of the asset or CGU.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s corporate assets do not generate separate cash inflows and are utilized by more than one CGU. Corporate assets are allocated to CGU&amp;#39;s on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment losses are recognized in the consolidated Statement of Income. Impairment losses recognized in respect of CGU&amp;#39;s are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGU&amp;#39;s) and then to reduce the carrying amount of the other assets in the CGU (group of CGU&amp;#39;s) on a pro rata basis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;An impairment of goodwill cannot be reversed. With regard to other assets, an impairment loss recognized in previous periods is reassessed at each reporting date for any indications that the impairment has decreased or no longer exists. An impairment loss will be reversed if there has been a change in the estimates used to determine the recoverable amount or to the extent that the carrying amount of the asset does not exceed the carrying amount that would have been determined, net of depreciation and amortization, if no impairment had been recognized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory>
  <bbd:DescriptionOfAccountingPolicyForDepositsDebtSecuritiesIssuedAndSubordinatedLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923262&quot; /&gt;&lt;a name=&quot;_Toc474919313&quot; /&gt;&lt;a name=&quot;_Toc415565840&quot; /&gt;&lt;a name=&quot;_Toc415499819&quot; /&gt;&lt;a name=&quot;_Toc415498654&quot; /&gt;&lt;a name=&quot;_Toc415498530&quot; /&gt;&lt;a name=&quot;_Toc415498301&quot; /&gt;&lt;a name=&quot;_Toc413337829&quot; /&gt;&lt;a name=&quot;_Toc412626161&quot; /&gt;&lt;a name=&quot;_Toc381783343&quot; /&gt;&lt;a name=&quot;_Toc379874063&quot; /&gt;&lt;a name=&quot;_Toc355707593&quot; /&gt;&lt;a name=&quot;_Toc351013974&quot; /&gt;&lt;a name=&quot;_Toc320264321&quot; /&gt;&lt;a name=&quot;_Toc318995674&quot; /&gt;&lt;a name=&quot;_Toc318995472&quot; /&gt;&lt;a name=&quot;_Toc316896254&quot; /&gt;&lt;a name=&quot;_Toc312767229&quot; /&gt;&lt;a name=&quot;_Toc289782410&quot; /&gt;&lt;a name=&quot;_Toc285698324&quot; /&gt;&lt;a name=&quot;_Toc285642805&quot; /&gt;&lt;a name=&quot;_Toc285538671&quot; /&gt;&lt;a name=&quot;_Toc285477032&quot; /&gt;&lt;a name=&quot;_Toc285472571&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.12&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Deposits, debt securities issued and subordinated liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deposits, debt securities issued and subordinated liabilities are the main sources of funding used by the Organization to finance its operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;They are initially recorded at fair value plus transaction costs and are subsequently measured at amortized cost using the effective interest method.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForDepositsDebtSecuritiesIssuedAndSubordinatedLiabilitiesTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923263&quot; /&gt;&lt;a name=&quot;_Toc474919314&quot; /&gt;&lt;a name=&quot;_Toc415565841&quot; /&gt;&lt;a name=&quot;_Toc415499820&quot; /&gt;&lt;a name=&quot;_Toc415498655&quot; /&gt;&lt;a name=&quot;_Toc415498531&quot; /&gt;&lt;a name=&quot;_Toc415498302&quot; /&gt;&lt;a name=&quot;_Toc413337830&quot; /&gt;&lt;a name=&quot;_Toc412626162&quot; /&gt;&lt;a name=&quot;_Toc381783344&quot; /&gt;&lt;a name=&quot;_Toc379874064&quot; /&gt;&lt;a name=&quot;_Toc355707594&quot; /&gt;&lt;a name=&quot;_Toc351013975&quot; /&gt;&lt;a name=&quot;_Toc320264322&quot; /&gt;&lt;a name=&quot;_Toc318995675&quot; /&gt;&lt;a name=&quot;_Toc318995473&quot; /&gt;&lt;a name=&quot;_Toc316896255&quot; /&gt;&lt;a name=&quot;_Toc312767230&quot; /&gt;&lt;a name=&quot;_Toc289782411&quot; /&gt;&lt;a name=&quot;_Toc285698325&quot; /&gt;&lt;a name=&quot;_Toc285642806&quot; /&gt;&lt;a name=&quot;_Toc285538672&quot; /&gt;&lt;a name=&quot;_Toc285477033&quot; /&gt;&lt;a name=&quot;_Toc285472572&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.13&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Provisions, contingent liabilities and contingent assets&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A provision is recognized when, as a result of a past event, the Organization has a present legal or constructive obligation that can be reliably estimated and it is probable that an outflow of resources will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Provisions were established by Management whenever it considers that there is a probable loss taking into account the opinion of their legal advisors; the nature of the actions; the similarity to previous suits; the complexity and the positioning of the Courts. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent Liabilities are not recognized, since their existence will only be confirmed by the occurrence or not of one or more future and uncertain events that are not totally under the control of the Management. Contingent liabilities do not meet the criteria for recognition, since they are considered as possible losses and should only be disclosed in explanatory notes, when relevant. Obligations classified as remote are neither provisioned nor disclosed.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contingent assets are recorded only when there are real guarantees or favorable and non-appealable court decisions, and when the gain is considered to be virtually certain. Contingent assets for which the expectation is the outcome will be favorable are only disclosed in the financial statements, when material. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923264&quot; /&gt;&lt;a name=&quot;_Toc474919315&quot; /&gt;&lt;a name=&quot;_Toc415565842&quot; /&gt;&lt;a name=&quot;_Toc415499821&quot; /&gt;&lt;a name=&quot;_Toc415498656&quot; /&gt;&lt;a name=&quot;_Toc415498532&quot; /&gt;&lt;a name=&quot;_Toc415498303&quot; /&gt;&lt;a name=&quot;_Toc413337831&quot; /&gt;&lt;a name=&quot;_Toc412626163&quot; /&gt;&lt;a name=&quot;_Toc381783345&quot; /&gt;&lt;a name=&quot;_Toc379874065&quot; /&gt;&lt;a name=&quot;_Toc355707595&quot; /&gt;&lt;a name=&quot;_Toc351013976&quot; /&gt;&lt;a name=&quot;_Toc320264323&quot; /&gt;&lt;a name=&quot;_Toc318995676&quot; /&gt;&lt;a name=&quot;_Toc318995474&quot; /&gt;&lt;a name=&quot;_Toc316896256&quot; /&gt;&lt;a name=&quot;_Toc312767231&quot; /&gt;&lt;a name=&quot;_Toc289782412&quot; /&gt;&lt;a name=&quot;_Toc285698326&quot; /&gt;&lt;a name=&quot;_Toc285642807&quot; /&gt;&lt;a name=&quot;_Toc285538673&quot; /&gt;&lt;a name=&quot;_Toc285477034&quot; /&gt;&lt;a name=&quot;_Toc285472573&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.14&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Classification of insurance contracts and investments&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;An insurance contract is a contract in which the Organization accepts a significant insurance risk from the policy holder by agreeing to compensate the policyholder if a specific, uncertain, future event adversely affects the policy holder. Reinsurance contracts are also treated as insurance contracts because they transfer significant insurance risk. Contracts in the Insurance segment classified as investment contracts are related to our capitalization bonds, which do not transfer significant insurance risk and are accounted for as financial instruments in accordance with IAS 39 - Financial Instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForInsuranceContracts>
  <bbd:DescriptionOfAccountingPolicyForInsuranceAndPensionPlanTechnicalProvisionsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923265&quot; /&gt;&lt;a name=&quot;_Toc474919316&quot; /&gt;&lt;a name=&quot;_Toc415565843&quot; /&gt;&lt;a name=&quot;_Toc415499822&quot; /&gt;&lt;a name=&quot;_Toc415498657&quot; /&gt;&lt;a name=&quot;_Toc415498533&quot; /&gt;&lt;a name=&quot;_Toc415498304&quot; /&gt;&lt;a name=&quot;_Toc413337832&quot; /&gt;&lt;a name=&quot;_Toc412626164&quot; /&gt;&lt;a name=&quot;_Toc381783346&quot; /&gt;&lt;a name=&quot;_Toc379874066&quot; /&gt;&lt;a name=&quot;_Toc355707596&quot; /&gt;&lt;a name=&quot;_Toc351013977&quot; /&gt;&lt;a name=&quot;_Toc320264324&quot; /&gt;&lt;a name=&quot;_Toc318995677&quot; /&gt;&lt;a name=&quot;_Toc318995475&quot; /&gt;&lt;a name=&quot;_Toc316896257&quot; /&gt;&lt;a name=&quot;_Toc312767232&quot; /&gt;&lt;a name=&quot;_Toc289782413&quot; /&gt;&lt;a name=&quot;_Toc285698327&quot; /&gt;&lt;a name=&quot;_Toc285642808&quot; /&gt;&lt;a name=&quot;_Toc285538674&quot; /&gt;&lt;a name=&quot;_Toc285477035&quot; /&gt;&lt;a name=&quot;_Toc285472574&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.15&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Insurance and pension plan technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Property damage&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts less initial contracting costs. &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The portion of these reserves corresponding to the estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &amp;#8216;PPNG-RVNE&amp;#39;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Incurred But Not Reported (IBNR) is constituted based on the claims incurred and not yet paid (IBNP), subtracting the balance of the Provision for Claims to be settled (PSL) at the base date of calculation. To calculate the IBNP, the final estimate of claims that have not yet been paid based on semiannual run-off triangles, which consider the historical development of the claims paid in the last 10 semesters for the branches of damages and the last 11 quarters for the extended guarantee business, in order to establish a future projection by period of occurrence of occurrence and also considers the estimate of claims Incurred But Not Enough Reported (IBNER), reflecting the expectation of alteration of the provisioned amount throughout the regulation process. Until the base date of December 2016, only IBNR was constituted, without IBNER segregation. This change in methodology was made in January 2017 in the automobile portfolio in order to allow better allocation of capital among the loss provisions, and had no impact on the results of the Organization.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) is determined based on the indemnity payment estimates, considering all administrative and judicial claims existing at the reporting date, restated monetarily, net of salvage and payments expected to be received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for related expenses (PDR) is recorded on a monthly basis to cover expenses related to estimated claims and benefits. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;It covers both costs that can be individually allocated to each claim as well as claims costs not discriminated, meaning those incurred at the portfolio level.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;shall be established when there is insufficiency of the technical provisions required under the legislation, as determined in the Liability Adequacy Test (see Note 2(o)(vi) below). At the reporting date management did not identify the need for PCC on property damage contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other technical provisions (OPT) correspond to the Provision for Administrative Expenses (PDA) arising on the Mandatory Insurance For Personal Injury Caused by Motor Vehicles (DPVAT) insurance operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Life insurance, excluding life insurance with survival coverage (VGBL product)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, but including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts and includes an&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &amp;#8216;PPNG-RVNE&amp;#39;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Mathematical Provision for Benefits to be Granted (PMBaC) is calculated by the difference between the present value of the future benefits and the present value of the future contributions to be received for these benefits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Redemptions and other Amounts to be Settled (PVR) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters, to establish a future projection per period of occurrence. A residual cause study is carried out to forecast the claims reported after 10 semesters of the date of occurrence.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The change in the calculation methodology of IBNP, which considered 16 semesters of claims development, to reflect a higher level of precison in the estimate within the current portfolio of the Organization . The change generated a reduction of approximately R$ 180 million in the provision of IBNR, net of reinsurance. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation and includes all claims in litigation&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) refers to the amount necessary to complement technical reserves, as calculated through the Liability Adequacy Test. &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;LAT is calculated&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; using statistical and actuarial methods based on realistic considerations, taking into account the biometric table BR-EMS of both genders, adjusted by longevity development criteria compatible with the latest published versions and improvement using a risk free forward interest rate structures which was approved by SUSEP to discount the future cash flows. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Technical Surplus Provision (PET) corresponds to the difference between the value of the expected cost and the actual cost of claims that occurred during the period for contracts of individual life insurance with rights to participate in technical surplus.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For products structured under a capitalization regime, the reserve covers the expected expenses related to incurred claims and also claims expected to be incurred in the future.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Health and Dental Insurance&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for claims incurred but not reported (IBNR) is calculated from the final estimate of claims already incurred and still not reported, based on monthly run-off triangles that consider the historical development of claims reported in the last 12 months for health insurance and 18 months for dental insurance, to establish a future projection per period of occurrence&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The provision for unsettled claims (PSL) is based on claims received up to the reporting date, including judicial claims and related costs adjusted for inflation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBAC) relates to the individual health care plan portfolio and accounts for the risk related to the cover of the holder&amp;#39;s dependents for five years following the death of the holder. It is calculated using: a 4.5% annual&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;discount rate &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;; the period over which holders are expected to remain in the plan up to their death; and the projected costs of the five-year-period cover in which no premiums will be received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve of benefits granted (PMBC) is constituted by the obligations arising from the contractual clauses of remission of installments in cash, regarding the coverage of health assistance and by the premiums through payment of insured persons participating in the Bradesco Sa&amp;#250;de insurance - &quot;GBS Plan&quot;, and considering a discount rate of 4.5% per annum &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The unearned premium or contribution reserve (PPCNG) is calculated on the currently effective contracts on a daily pro-rata basis based on the portion of health insurance premiums corresponding to the remaining period of coverage.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The other provisions for the individual health portfolio are constituted to cover differences between the expected present value of claims and related future costs and the expected present value of future premiums, considering a discount rate of 4.5% per year &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(5.1% in 2016)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Operations with DPVAT Insurance&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenues from DPVAT premiums and the related technical reserves are recorded gross, based on reports received from Seguradora Lider S.A. which acts as the &amp;#8220;lead insurer&amp;#8221; of the Consortium of Insurance DPVAT S.A. in proportion to the percentage of Bradesco&amp;#39;s stake in the consortium. It is the function of the lead insurer to collect the premiums, coordinate policy issuance, settle claims and manage the administrative costs within the consortium, in accordance with the CNSP Normative Resolution n&amp;#186; 332/15. As defined in the regulations of the consortium, 50% of the monthly net income is distributed to the consortium&amp;#39;s members in the following month. The remaining 50% of the monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Open pension plans and life insurance with survival coverage (VGBL product)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The unearned premium reserve (PPNG) is calculated on a daily pro-rata basis, using net premiums and is comprised of the portion corresponding to the remaining period of coverage and includes an estimate for risks covered but not yet issued (RVNE).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBaC) is constituted to the participants who have not yet received any benefit. In defined benefit pension plans, the reserve represents the difference between the present value of future benefits and the present value of future contributions, corresponding to obligations assumed in the form of retirement, disability, pension and annuity plans. The reserve is calculated using methodologies and assumptions set forth in the actuarial technical notes.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for unvested benefits (PMBaC) related to life insurance with survival coverage and unrestricted benefit pension plans (VGBL and PGBL), and defined contribution plans, includes the contributions, received from participants, net of costs and other contractual charges, plus the financial return generated through the investment of these amounts in units of specially constituted investment funds (FIE).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for Redemptions and other Amounts to be Settled (PVR) comprises amounts related to redemptions to settle, premium refunds owed and portability (transfer-outs) requested but not yet transferred to the recipient insurer.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The mathematical reserve for vested benefits (PMBC) is recognized for participants already receiving benefits and corresponds to the present value of future obligations related to the payment of those on-going benefits&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Complementary Reserve for Coverage (PCC) refers to the amount necessary to complement technical reserves, as calculated through the Liability Adequacy Test (see Note 2(n)(vi)).&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; LAT is prepared using statistical and actuarial methods based on realistic assumptions, taking into account the biometric table BR-EMS of both genders,&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;adjusted by longevity development criteria compatible with the latest versions disclosed improvement and forward interest rate curves (ETTJ) free from risk as authorized by SUSEP. The improvement rate is calculated from automatic updates of the biometric table, considering the expected increase in future life expectancy.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision of Related Expenses (PDR) is recorded to cover expenses related to estimated claims and benefits. For products structured in self-funding and partially regimes, the reserve covers claims incurred. For plans structured under a capitalization regime, the reserve is made to cover the expected expenses related to incurred claims and also claims expected to be incurred in the future. The projections are performed through the passive adequacy test (LAT).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Financial Surplus Provision (PEF) corresponds to the financial result, which exceeds the guaranteed minimum profitability of contracts with a financial surplus participation clause.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Provision for IBNR is calculated based on semiannual run-off triangles, which consider the historical development of claims paid and outstanding in the last 10 semesters (16 semesters in 2016) to establish a future projection by period of occurrence. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The reserve for unsettled claims (PSL) considers all claim notifications received up to the end of the reporting period. The reserve is adjusted for inflation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:116%;&quot;&gt;Liability Adequacy Test (LAT)&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;vertical-align:middle;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization conducted the liability adequacy test for all the contracts that meet the definition of an insurance contract according to IFRS 4 and which are in force on the date of execution of the test. This test is conducted every six months and the liability of insurance contracts, gross of reinsurance, is calculated as the sum of the carrying amount, deducting the deferred acquisition costs and the related intangibles. This is compared to the expected cash flows arising from the obligations under commercialized contracts and certificates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The test considerers projections of claims and benefits that have occurred and are to occur, administrative expenses, allocable expenses related to the claims, intrinsic options and financial surpluses, salvage and recoveries&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;and other income and expense directly related to the insurance contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;To calculate the present value of projected cash flows, the Organization &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;used the risk free forward (ETTJ) rate which was approved by SUSEP.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;According to SUSEP Circular n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 517/2015&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;and subsequent changes, the test was segmented between life insurance and pension products and property coverage, and liabilities related to DPVAT insurance were not included in the adequacy test.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Life and pension products&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;For private pension products and Life Insurance with Coverage for Survival, &lt;/font&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the contracts are grouped based on similar risks or when the insurance risk is managed jointly by the Administration.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The cash flows related to future premiums not recorded in the PPNG were only included in the projections when the result of the LAT without these values was negative.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The projected average loss ratio was 42% for individual and collective individuals, obtained from analysis based on triangles for the development of Company claims generated with information from January 2007.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of LAT made for the base date December 2017, considered the update of the assumption of Rate of Conversion into Income (TCR) of PGBL and VGBL pension plans. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The result of the liability adequacy test for life insurance was fully recognized in the income statement, as set out in SUSEP Circular No. 517/15 (note 35a). &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;&quot;&gt;&amp;#8226;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Property Coverage&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The expected present value of cash flows relating to claims incurred - primarily claims costs and salvage recoveries - was compared to the technical provisions for claims incurred - PSL and IBNR.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The expected present value of cash flows relating to claims to be incurred on the policies in force, plus any administrative expenses and other expenses relating to products in run-off, was compared to the sum of the related technical provisions - PPNG and PPNG-RVNE.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The projected average loss ratio was 15.19% for the Extended Guarantee segment and 50.21% for the elementary lines, which were strongly influenced by the estimate of the future premium of the housing insurance portfolio, which is characterized by low loss ratio and long terms , since it accompanies the period of financing of the property.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The average reinsurance projected in the study, calculated on the basis of reported claims was 2.05%.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The result of the liability adequacy test, for property coverage, did not present insufficiency and, consequently, no additional PCC provisions were recorded.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForInsuranceAndPensionPlanTechnicalProvisionsTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForReinsuranceExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923266&quot; /&gt;&lt;a name=&quot;_Toc474919317&quot; /&gt;&lt;a name=&quot;_Toc415565844&quot; /&gt;&lt;a name=&quot;_Toc415499823&quot; /&gt;&lt;a name=&quot;_Toc415498658&quot; /&gt;&lt;a name=&quot;_Toc415498534&quot; /&gt;&lt;a name=&quot;_Toc415498305&quot; /&gt;&lt;a name=&quot;_Toc413337833&quot; /&gt;&lt;a name=&quot;_Toc412626165&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.16&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Reinsurance contracts&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reinsurance contracts are used in the normal course of operations with the purpose of limiting potential losses, by spreading risks. Liabilities relating to contracts that have been reinsured are presented gross of their respective recoveries, which are booked as assets since the existence of the reinsurance contract does not nullify the Organization&amp;#39;s obligations with the insured parties.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;As required by the regulators, reinsurance companies with headquarters abroad must have a minimum rating from a risk classification agency to reinsure risks all other reinsurance operations must be with national missing If there are indications that the amounts recorded will not be realized by its carrying amount, these assets will be adjusted for impairment. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForReinsuranceExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923267&quot; /&gt;&lt;a name=&quot;_Toc474919318&quot; /&gt;&lt;a name=&quot;_Toc415565845&quot; /&gt;&lt;a name=&quot;_Toc415499824&quot; /&gt;&lt;a name=&quot;_Toc415498659&quot; /&gt;&lt;a name=&quot;_Toc415498535&quot; /&gt;&lt;a name=&quot;_Toc415498306&quot; /&gt;&lt;a name=&quot;_Toc413337834&quot; /&gt;&lt;a name=&quot;_Toc412626166&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.17&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Deferred acquisition costs&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;These comprise deferred acquisition costs including commissions and brokers&amp;#39; fees related to the sale of insurance policies. Deferred commissions are recognized in the consolidated statement of income over the life of the respective policies and pension plan contracts or over an average period of twelve months. Expenses relating to insurance agency operations relating to the sale of health plans are amortized over a twenty-four month period and life assurance expenses are appropriated in the twelve-month period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923268&quot; /&gt;&lt;a name=&quot;_Toc474919319&quot; /&gt;&lt;a name=&quot;_Toc415565846&quot; /&gt;&lt;a name=&quot;_Toc415499825&quot; /&gt;&lt;a name=&quot;_Toc415498660&quot; /&gt;&lt;a name=&quot;_Toc415498536&quot; /&gt;&lt;a name=&quot;_Toc415498307&quot; /&gt;&lt;a name=&quot;_Toc413337835&quot; /&gt;&lt;a name=&quot;_Toc412626167&quot; /&gt;&lt;a name=&quot;_Toc381783347&quot; /&gt;&lt;a name=&quot;_Toc379874067&quot; /&gt;&lt;a name=&quot;_Toc355707597&quot; /&gt;&lt;a name=&quot;_Toc351013978&quot; /&gt;&lt;a name=&quot;_Toc320264325&quot; /&gt;&lt;a name=&quot;_Toc318995678&quot; /&gt;&lt;a name=&quot;_Toc318995476&quot; /&gt;&lt;a name=&quot;_Toc316896258&quot; /&gt;&lt;a name=&quot;_Toc312767233&quot; /&gt;&lt;a name=&quot;_Toc289782414&quot; /&gt;&lt;a name=&quot;_Toc285698328&quot; /&gt;&lt;a name=&quot;_Toc285642809&quot; /&gt;&lt;a name=&quot;_Toc285538675&quot; /&gt;&lt;a name=&quot;_Toc285477036&quot; /&gt;&lt;a name=&quot;_Toc285472575&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.18&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Financial guarantees&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial guarantees are contracts that require the Organization to make specific payments under the guarantee for a loss incurred when a specific debtor fails to make a payment when due in accordance with the terms of the debt instrument.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Financial guarantees are initially recognized in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Organization&amp;#39;s obligations under such guarantees are measured as the higher of the initial amount, less the accumulated amortization, and the best estimate of the amount required to settle the guarantee if management deems such expenditure to be probable. These estimates are determined based on experience of similar transactions and history of past losses, supplemented by the judgment of Management. The fee income earned is recognized on a straight-line basis over the life of the guarantee. Any increase in the liability relating to guarantees is reported in the consolidated statement of income within &amp;#8220;Other operating income/ (expenses)&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923269&quot; /&gt;&lt;a name=&quot;_Toc474919320&quot; /&gt;&lt;a name=&quot;_Toc415565847&quot; /&gt;&lt;a name=&quot;_Toc415499826&quot; /&gt;&lt;a name=&quot;_Toc415498661&quot; /&gt;&lt;a name=&quot;_Toc415498537&quot; /&gt;&lt;a name=&quot;_Toc415498308&quot; /&gt;&lt;a name=&quot;_Toc413337836&quot; /&gt;&lt;a name=&quot;_Toc412626168&quot; /&gt;&lt;a name=&quot;_Toc381783348&quot; /&gt;&lt;a name=&quot;_Toc379874068&quot; /&gt;&lt;a name=&quot;_Toc355707598&quot; /&gt;&lt;a name=&quot;_Toc351013979&quot; /&gt;&lt;a name=&quot;_Toc320264326&quot; /&gt;&lt;a name=&quot;_Toc318995679&quot; /&gt;&lt;a name=&quot;_Toc318995477&quot; /&gt;&lt;a name=&quot;_Toc316896259&quot; /&gt;&lt;a name=&quot;_Toc312767234&quot; /&gt;&lt;a name=&quot;_Toc289782415&quot; /&gt;&lt;a name=&quot;_Toc285698329&quot; /&gt;&lt;a name=&quot;_Toc285642810&quot; /&gt;&lt;a name=&quot;_Toc285538676&quot; /&gt;&lt;a name=&quot;_Toc285477037&quot; /&gt;&lt;a name=&quot;_Toc285472576&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.19&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Employee benefits&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;IAS 19 establishes that the employer must recognize prospectively the surplus or deficit of its defined benefit plans and post-retirement plans as an asset or an obligation in its consolidated statement of financial position, and must recognize the changes in the financial condition during the year in which the changes occurred, in profit or loss.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Defined contribution plan&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Bradesco and its subsidiaries sponsor pension plans for their employees and Management of the &amp;#8220;Free Benefit Generator Plan (PGBL)&amp;#8221; type. The PGBL is a pension plan with defined contributions which allows financial resources to be accumulated throughout the professional career of the participants based on contributions paid by them and the sponsoring company, the funds of which are invested in an Exclusive Mutual Fund (FIE). The actuarial obligations of PGBL are fully covered by the corresponding FIE. The PGBL is managed by the subsidiaries Bradesco Vida e Previd&amp;#234;ncia S.A.. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contribution obligations for defined contribution pension plans are recognized as expenses in profit or loss as incurred. Once the contributions are paid, Bradesco, in the capacity of employer, has no obligation to make any additional payment.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In addition to the PGBL previously presented, the participants transferred from the defined benefit plan are assured a deferred proportional benefit until the date of migration. For participants in the defined benefit plan, whether or not transferred to the PGBL, retired participants and pensioners, the present value of the actuarial liabilities of the plan is fully covered by guarantee assets applied in the FIEs.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Defined benefit plans&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s net obligation, in relation to the defined benefit plans, refers exclusively to institutions acquired are calculated separately for each plan, estimating the future benefit that the employees have earned in return for their service during the current and prior periods. The benefit is discounted to determine its present value and deducted by the fair value of any plan assets. The discount rate is the yield at the reporting date on &amp;#8220;AA&amp;#8221; credit rated bonds, which have maturity dates approximating the terms of the Organization&amp;#39;s obligations. The calculation is made by an actuary, using the projected unit credit method.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Termination benefits&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Severance benefits are required to be paid when the employment relationship is terminated by the Organization before the employee&amp;#39;s normal date of retirement or whenever the employee accepts voluntary redundancy in return for such benefits.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Benefits which are payable twelve months or more after the reporting date are discounted to their present value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Short-term benefits&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Benefits such as wages, salaries, social security contributions, paid annual leave and paid sick leave, profit sharing and bonuses (if payable within twelve months of the reporting date) and non-monetary benefits such as health care, etc. are recorded as expenses in the consolidated statement of income, without any discount to present value, if the Organization has a present legal or constructive obligation to pay the amount as a result of past service provided&amp;#160; by the employee and the obligation can be reliably estimated.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
<!-- ELement Id bbd_DescriptionOfAccountingPolicyForCapitalizationBondsTextBlock -->
  <bbd:DescriptionOfAccountingPolicyForCapitalizationBondsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc285698330&quot; /&gt;&lt;a name=&quot;_Toc285642811&quot; /&gt;&lt;a name=&quot;_Toc285538677&quot; /&gt;&lt;a name=&quot;_Toc285477038&quot; /&gt;&lt;a name=&quot;_Toc285472577&quot; /&gt;&lt;a name=&quot;_Toc474923270&quot; /&gt;&lt;a name=&quot;_Toc474919321&quot; /&gt;&lt;a name=&quot;_Toc415565848&quot; /&gt;&lt;a name=&quot;_Toc415499827&quot; /&gt;&lt;a name=&quot;_Toc415498662&quot; /&gt;&lt;a name=&quot;_Toc415498538&quot; /&gt;&lt;a name=&quot;_Toc415498309&quot; /&gt;&lt;a name=&quot;_Toc413337837&quot; /&gt;&lt;a name=&quot;_Toc412626169&quot; /&gt;&lt;a name=&quot;_Toc381783349&quot; /&gt;&lt;a name=&quot;_Toc379874069&quot; /&gt;&lt;a name=&quot;_Toc355707599&quot; /&gt;&lt;a name=&quot;_Toc351013980&quot; /&gt;&lt;a name=&quot;_Toc320264327&quot; /&gt;&lt;a name=&quot;_Toc318995680&quot; /&gt;&lt;a name=&quot;_Toc318995478&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.20&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The liability for capitalization bonds is registered in the line &amp;#8216;Other liabilities&amp;#39;. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial liabilities and revenues from capitalization bonds are accrued at the time bonds are issued. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Bonds are issued according to the types of payments, monthly or single payment. Each bond bears a nominal value and the deposit portion of each payment is remunerated at the referential rate (TR) plus 0.5% per month, which is used to determine the liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capitalization bond beneficiaries are eligible for a prize draw. At the end of a certain period that is determined at the time the capitalization bond is issued, a beneficiary may redeem the nominal value paid plus the referential rate (TR) +0.5% of interest, even&amp;#160; if they have not won in the draw.&amp;#160; These products are regulated by the insurance regulator in Brazil; however, they do not meet the definition of an insurance contract in accordance with IFRS 4 and, therefore, are classified as financial liabilities in accordance with IAS 39.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Unclaimed amounts from &amp;#8220;capitalization plans&amp;#8221; are derecognized when the obligation legally expires, in accordance with IAS 39 as it relates to the derecognition of a financial liability.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expenses for placement of &amp;#8220;capitalization plans&amp;#8221;, are recognized as they are incurred.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForCapitalizationBondsTextBlock>
  <bbd:DescriptionOfAccountingPolicyForInterestTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923271&quot; /&gt;&lt;a name=&quot;_Toc474919322&quot; /&gt;&lt;a name=&quot;_Toc415565849&quot; /&gt;&lt;a name=&quot;_Toc415499828&quot; /&gt;&lt;a name=&quot;_Toc415498663&quot; /&gt;&lt;a name=&quot;_Toc415498539&quot; /&gt;&lt;a name=&quot;_Toc415498310&quot; /&gt;&lt;a name=&quot;_Toc413337838&quot; /&gt;&lt;a name=&quot;_Toc412626170&quot; /&gt;&lt;a name=&quot;_Toc381783350&quot; /&gt;&lt;a name=&quot;_Toc379874070&quot; /&gt;&lt;a name=&quot;_Toc355707600&quot; /&gt;&lt;a name=&quot;_Toc351013981&quot; /&gt;&lt;a name=&quot;_Toc320264328&quot; /&gt;&lt;a name=&quot;_Toc318995681&quot; /&gt;&lt;a name=&quot;_Toc318995479&quot; /&gt;&lt;a name=&quot;_Toc316896261&quot; /&gt;&lt;a name=&quot;_Toc312767236&quot; /&gt;&lt;a name=&quot;_Toc289782417&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.21&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Interest&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Interest income and expenses are recognized on an accrual basis in the consolidated statement of income using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash payments and receipts throughout the expected life of the financial asset or liability (or, when appropriate, a shorter period) to the carrying amount of the financial asset or liability. When calculating the effective rate, the Organization estimates future cash flows considering all contractual terms of the financial instrument, but not future credit losses.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of the effective interest rate includes all commissions, transaction costs, discounts or bonuses which are an integral part of such rate. Transaction costs are incremental costs directly attributable to the acquisition, issuance or disposal of a financial asset or liability.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForInterestTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923272&quot; /&gt;&lt;a name=&quot;_Toc474919323&quot; /&gt;&lt;a name=&quot;_Toc415565850&quot; /&gt;&lt;a name=&quot;_Toc415499829&quot; /&gt;&lt;a name=&quot;_Toc415498664&quot; /&gt;&lt;a name=&quot;_Toc415498540&quot; /&gt;&lt;a name=&quot;_Toc415498311&quot; /&gt;&lt;a name=&quot;_Toc413337839&quot; /&gt;&lt;a name=&quot;_Toc412626171&quot; /&gt;&lt;a name=&quot;_Toc381783351&quot; /&gt;&lt;a name=&quot;_Toc379874071&quot; /&gt;&lt;a name=&quot;_Toc355707601&quot; /&gt;&lt;a name=&quot;_Toc351013982&quot; /&gt;&lt;a name=&quot;_Toc320264329&quot; /&gt;&lt;a name=&quot;_Toc318995682&quot; /&gt;&lt;a name=&quot;_Toc318995480&quot; /&gt;&lt;a name=&quot;_Toc316896263&quot; /&gt;&lt;a name=&quot;_Toc312767237&quot; /&gt;&lt;a name=&quot;_Toc289782418&quot; /&gt;&lt;a name=&quot;_Toc285698331&quot; /&gt;&lt;a name=&quot;_Toc285642812&quot; /&gt;&lt;a name=&quot;_Toc285538678&quot; /&gt;&lt;a name=&quot;_Toc285477039&quot; /&gt;&lt;a name=&quot;_Toc285472578&quot; /&gt;&lt;a name=&quot;_Toc316896262&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.22&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Fees and commissions&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Fees and commission income and expense which are part of and are directly allocable to the effective interest rate on a financial asset or liability are included in the calculation of the effective interest rate.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other fee and commission income, including account service fees, asset management fees, credit card annual charges, and collection and consortium fees are recognized as the related services are rendered. When a loan commitment is not expected to result in the drawdown of a loan, the related commitment fees are recognized on a straight-line basis over the commitment period. Other fees and commissions expense relate mainly to transaction as the services are received.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory>
  <bbd:DescriptionOfAccountingPolicyForNetInsuranceIncomeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923273&quot; /&gt;&lt;a name=&quot;_Toc474919324&quot; /&gt;&lt;a name=&quot;_Toc415565851&quot; /&gt;&lt;a name=&quot;_Toc415499830&quot; /&gt;&lt;a name=&quot;_Toc415498665&quot; /&gt;&lt;a name=&quot;_Toc415498541&quot; /&gt;&lt;a name=&quot;_Toc415498312&quot; /&gt;&lt;a name=&quot;_Toc413337840&quot; /&gt;&lt;a name=&quot;_Toc412626172&quot; /&gt;&lt;a name=&quot;_Toc381783352&quot; /&gt;&lt;a name=&quot;_Toc379874072&quot; /&gt;&lt;a name=&quot;_Toc355707602&quot; /&gt;&lt;a name=&quot;_Toc351013983&quot; /&gt;&lt;a name=&quot;_Toc320264330&quot; /&gt;&lt;a name=&quot;_Toc318995683&quot; /&gt;&lt;a name=&quot;_Toc318995481&quot; /&gt;&lt;a name=&quot;_Toc316896264&quot; /&gt;&lt;a name=&quot;_Toc312767238&quot; /&gt;&lt;a name=&quot;_Toc289782419&quot; /&gt;&lt;a name=&quot;_Toc285698332&quot; /&gt;&lt;a name=&quot;_Toc285642813&quot; /&gt;&lt;a name=&quot;_Toc285538679&quot; /&gt;&lt;a name=&quot;_Toc285477040&quot; /&gt;&lt;a name=&quot;_Toc285472579&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.23&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Net insurance income&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance and coinsurance premiums, net of premiums transferred through coinsurance and reinsurance and related commissions, are recognized as income upon issuance of the respective policies / certificates / endorsements and invoices, or at the beginning of the risk period for cases in which the cover begins before issue date, and accounted for on a straight-line basis, over the duration of the policies, through the upfront recognition and subsequent reversal of the provision for unearned premiums and the deferred acquisition costs.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income from premiums and the acquisition costs related to risks already assumed whose respective policies have not yet been issued are recognized in the consolidated statement of income at the start of the risk coverage period on an estimated basis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The health insurance premiums are recorded in the premium account (result) or unearned premium or contribution reserve (PPCNG), according to the coverage period of the contracts in effect at the balance sheet date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Revenues and expenses related to DPVAT insurance operations are recorded on the basis of information received from the Seguradora L&amp;#237;der dos Cons&amp;#243;rcios do Seguro DPVAT S.A.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Accepted co-insurance contracts and retrocession operations are recorded on the basis of information received from the lead co-insurer and IRB - Brasil Resseguros S.A., respectively.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Reinsurance operations are recorded based on the provision of accounts, which are subject to review by reinsurers. The deferral of reinsurance premiums granted under proportional contracts is carried out in a manner consistent with the related insurance premium, while the deferral of premiums for non-proportional reinsurance contracts is carried out according to the period of validity of the respective reinsurance contracts.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The receipts from insurance agency operations are deferred and recognized in income linearly, for a period of twenty-four months in health insurance operations and by the term of twelve months in the other operations.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Contributions to pension plans and life insurance premiums with survivor coverage are recognized in income upon their effective receipt.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForNetInsuranceIncomeTextBlock>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923274&quot; /&gt;&lt;a name=&quot;_Toc474919325&quot; /&gt;&lt;a name=&quot;_Toc415565852&quot; /&gt;&lt;a name=&quot;_Toc415499831&quot; /&gt;&lt;a name=&quot;_Toc415498666&quot; /&gt;&lt;a name=&quot;_Toc415498542&quot; /&gt;&lt;a name=&quot;_Toc415498313&quot; /&gt;&lt;a name=&quot;_Toc413337841&quot; /&gt;&lt;a name=&quot;_Toc412626173&quot; /&gt;&lt;a name=&quot;_Toc381783353&quot; /&gt;&lt;a name=&quot;_Toc379874073&quot; /&gt;&lt;a name=&quot;_Toc355707603&quot; /&gt;&lt;a name=&quot;_Toc351013984&quot; /&gt;&lt;a name=&quot;_Toc320264331&quot; /&gt;&lt;a name=&quot;_Toc318995684&quot; /&gt;&lt;a name=&quot;_Toc318995482&quot; /&gt;&lt;a name=&quot;_Toc316896265&quot; /&gt;&lt;a name=&quot;_Toc312767239&quot; /&gt;&lt;a name=&quot;_Toc289782420&quot; /&gt;&lt;a name=&quot;_Toc285698333&quot; /&gt;&lt;a name=&quot;_Toc285642814&quot; /&gt;&lt;a name=&quot;_Toc285538680&quot; /&gt;&lt;a name=&quot;_Toc285477041&quot; /&gt;&lt;a name=&quot;_Toc285472580&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.24&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax and social contribution deferred tax assets, calculated on income tax losses, social contribution losses and temporary differences, are recorded in &amp;#8220;Other Receivables - Sundry&amp;#8221; and the deferred tax liabilities on tax differences in lease depreciation (applicable only for income tax),&lt;br /&gt; mark-to-market adjustments on securities, restatement of judicial deposits, among others, are recorded in &amp;#8220;Other Liabilities - Tax and Social Security&amp;#8221;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax assets on temporary differences are realized when the difference between the accounting treatment and the income tax treatment reverses. Deferred tax assets on income tax and social contribution losses are realizable when taxable income is generated, up to the 30% limit of the taxable profit for the period. Deferred tax assets are recorded based on current expectations of realization considering technical studies and analyses carried out by Management.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The provision for income tax is calculated at 15% of taxable income plus a 10% surcharge. For financial companies, financial company equivalent and of the insurance industry, the social contribution on the profit was calculated until August 2015, considering the rate of 15%. For the period between September 2015 and December 2018, the rate was changed to 20%, according to Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; 13,169/15, returning to the rate of 15% as from January 2019. For the other companies, the social contribution is calculated considering the rate of 9%.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;By virtue of the amendment of the rate, the Organization Bradesco constituted, in September 2015, a supplement to the deferred tax asset of social contribution, considering the annual expectations of realization and the respective rates in force in each period, according to the technical study conducted.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Tax expense comprises current and deferred tax. Current and deferred tax are recorded in the consolidated statement of income except when the result of a transaction is recognized directly in equity, in which case the related tax effect is also recorded in equity or in other comprehensive income.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Current tax assets are amounts of taxes to be recovered through restitution or offset with taxes due from excess of taxes paid in relation to the current and / or previous period.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Current tax expenses are the expected amounts payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Current tax payable also includes any tax liability arising from the declaration of dividends. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and amount used for taxation purposes. Deferred tax is not recognized for:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-28.35pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;temporary differences on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;text-indent:-28.35pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;temporary differences related to investments in subsidiaries, associates and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Symbol;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#183;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;taxable temporary differences arising on the initial recognition of goodwill. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax is measured at the tax rates that are expected to be applied to the temporary differences when they reverse, based on the laws that have been enacted or substantively enacted by the reporting date. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In determining the amount of current and deferred tax the Organization takes into account the impact of uncertain tax positions and whether additional taxes and interest may be due. The Organization believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of various factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve judgments about future events. New information may become available that causes the Organization to change its judgment regarding the adequacy of existing tax liabilities; such changes to tax liabilities will impact the tax expense in the period that such a determination is made.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities against current tax assets, and they relate to taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Additional taxes that arise from the distribution of dividends by the Bank are recognized at the same time as the liability to pay the related dividend is recognized. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc316896266&quot; /&gt;&lt;a name=&quot;_Toc316896267&quot; /&gt;&lt;a name=&quot;_Toc316896268&quot; /&gt;&lt;a name=&quot;_Toc316896269&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.25&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&lt;a name=&quot;_Toc474923275&quot; /&gt;&lt;a name=&quot;_Toc474919326&quot; /&gt;&lt;a name=&quot;_Toc415565853&quot; /&gt;&lt;a name=&quot;_Toc415499832&quot; /&gt;&lt;a name=&quot;_Toc415498667&quot; /&gt;&lt;a name=&quot;_Toc415498543&quot; /&gt;&lt;a name=&quot;_Toc415498314&quot; /&gt;&lt;a name=&quot;_Toc413337842&quot; /&gt;&lt;a name=&quot;_Toc412626174&quot; /&gt;&lt;a name=&quot;_Toc381783354&quot; /&gt;&lt;a name=&quot;_Toc379874074&quot; /&gt;&lt;a name=&quot;_Toc355707604&quot; /&gt;&lt;a name=&quot;_Toc351013985&quot; /&gt;&lt;a name=&quot;_Toc320264332&quot; /&gt;&lt;a name=&quot;_Toc318995685&quot; /&gt;&lt;a name=&quot;_Toc318995483&quot; /&gt;&lt;a name=&quot;_Toc316896270&quot; /&gt;&lt;a name=&quot;_Toc312767240&quot; /&gt;&lt;a name=&quot;_Toc289782421&quot; /&gt;&lt;a name=&quot;_Toc285698334&quot; /&gt;&lt;a name=&quot;_Toc285642815&quot; /&gt;&lt;a name=&quot;_Toc285538681&quot; /&gt;&lt;a name=&quot;_Toc285477042&quot; /&gt;&lt;a name=&quot;_Toc285472581&quot; /&gt;Segment reporting&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Information for operating segments is consistent with the internal reports provided to the Executive Officers (being the Chief Operating Decision Makers), which are comprised by the Chief Executive Officer, Executive Vice-Presidents, Managing Directors and Deputy Directors. The Organization operates mainly in the banking and insurance segments. The banking operations include operations in retail, middle market and corporate activities, lease, international bank operations, investment banking and private banking. The Organization&amp;#39;s banking activities are performed through its own branches located throughout the country, in branches abroad and through subsidiaries, as well as by means of our shareholding interest in other companies. The insurance segment consists of insurance operations, supplementary pension plans and capitalization plans which are undertaken through a subsidiary, Bradesco Seguros S.A., and its subsidiaries.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory>
  <bbd:DescriptionOfAccountingPolicyForEquityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;&quot;&gt;&lt;a name=&quot;_Toc474923276&quot; /&gt;&lt;a name=&quot;_Toc474919327&quot; /&gt;&lt;a name=&quot;_Toc415565854&quot; /&gt;&lt;a name=&quot;_Toc415499833&quot; /&gt;&lt;a name=&quot;_Toc415498668&quot; /&gt;&lt;a name=&quot;_Toc415498544&quot; /&gt;&lt;a name=&quot;_Toc415498315&quot; /&gt;&lt;a name=&quot;_Toc413337843&quot; /&gt;&lt;a name=&quot;_Toc412626175&quot; /&gt;&lt;a name=&quot;_Toc381783355&quot; /&gt;&lt;a name=&quot;_Toc379874075&quot; /&gt;&lt;a name=&quot;_Toc355707605&quot; /&gt;&lt;a name=&quot;_Toc351013986&quot; /&gt;&lt;a name=&quot;_Toc320264333&quot; /&gt;&lt;a name=&quot;_Toc318995686&quot; /&gt;&lt;a name=&quot;_Toc318995484&quot; /&gt;&lt;a name=&quot;_Toc316896271&quot; /&gt;&lt;a name=&quot;_Toc312767241&quot; /&gt;&lt;a name=&quot;_Toc289782422&quot; /&gt;&lt;a name=&quot;_Toc285698335&quot; /&gt;&lt;a name=&quot;_Toc285642816&quot; /&gt;&lt;a name=&quot;_Toc285538682&quot; /&gt;&lt;a name=&quot;_Toc285477043&quot; /&gt;&lt;a name=&quot;_Toc285472582&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;2.26&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Equity&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Preferred shares have no voting rights, but have priority over common shares in reimbursement of capital, in the event of liquidation, up to the amount of the capital represented by such preferred shares, and the right to receive a minimum dividend per share that is ten percent (10%) higher than the dividend distributed per share to the holders of common shares.&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923277&quot; /&gt;&lt;a name=&quot;_Toc474919328&quot; /&gt;&lt;a name=&quot;_Toc415565855&quot; /&gt;&lt;a name=&quot;_Toc415499834&quot; /&gt;&lt;a name=&quot;_Toc415498669&quot; /&gt;&lt;a name=&quot;_Toc415498545&quot; /&gt;&lt;a name=&quot;_Toc415498316&quot; /&gt;&lt;a name=&quot;_Toc413337844&quot; /&gt;&lt;a name=&quot;_Toc412626176&quot; /&gt;&lt;a name=&quot;_Toc381783356&quot; /&gt;&lt;a name=&quot;_Toc379874076&quot; /&gt;&lt;a name=&quot;_Toc355707606&quot; /&gt;&lt;a name=&quot;_Toc351013987&quot; /&gt;&lt;a name=&quot;_Toc320264334&quot; /&gt;&lt;a name=&quot;_Toc318995687&quot; /&gt;&lt;a name=&quot;_Toc318995485&quot; /&gt;&lt;a name=&quot;_Toc316896272&quot; /&gt;&lt;a name=&quot;_Toc312767242&quot; /&gt;&lt;a name=&quot;_Toc289782423&quot; /&gt;&lt;a name=&quot;_Toc285698336&quot; /&gt;&lt;a name=&quot;_Toc285642817&quot; /&gt;&lt;a name=&quot;_Toc285538683&quot; /&gt;&lt;a name=&quot;_Toc285477044&quot; /&gt;&lt;a name=&quot;_Toc285472583&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Share issue costs&lt;/font&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Incremental costs directly attributable to the issuance of shares are shown net of taxes in equity, thus reducing the initial share value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923278&quot; /&gt;&lt;a name=&quot;_Toc474919329&quot; /&gt;&lt;a name=&quot;_Toc415565856&quot; /&gt;&lt;a name=&quot;_Toc415499835&quot; /&gt;&lt;a name=&quot;_Toc415498670&quot; /&gt;&lt;a name=&quot;_Toc415498546&quot; /&gt;&lt;a name=&quot;_Toc415498317&quot; /&gt;&lt;a name=&quot;_Toc413337845&quot; /&gt;&lt;a name=&quot;_Toc412626177&quot; /&gt;&lt;a name=&quot;_Toc381783357&quot; /&gt;&lt;a name=&quot;_Toc379874077&quot; /&gt;&lt;a name=&quot;_Toc355707607&quot; /&gt;&lt;a name=&quot;_Toc351013988&quot; /&gt;&lt;a name=&quot;_Toc320264335&quot; /&gt;&lt;a name=&quot;_Toc318995688&quot; /&gt;&lt;a name=&quot;_Toc318995486&quot; /&gt;&lt;a name=&quot;_Toc316896273&quot; /&gt;&lt;a name=&quot;_Toc312767243&quot; /&gt;&lt;a name=&quot;_Toc289782424&quot; /&gt;&lt;a name=&quot;_Toc285698337&quot; /&gt;&lt;a name=&quot;_Toc285642818&quot; /&gt;&lt;a name=&quot;_Toc285538684&quot; /&gt;&lt;a name=&quot;_Toc285477045&quot; /&gt;&lt;a name=&quot;_Toc285472584&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(ii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Earnings per share&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization presents basic and diluted earnings per share data. Basic earnings per share is calculated by dividing the net income attributable to shareholders of the Organization by the weighted average number of shares outstanding during the year, excluding the average number of shares purchased by the Organization and held as treasury shares. Diluted earnings per share are the same as basic earnings per share, as there are no potentially dilutive instruments.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923279&quot; /&gt;&lt;a name=&quot;_Toc474919330&quot; /&gt;&lt;a name=&quot;_Toc415565857&quot; /&gt;&lt;a name=&quot;_Toc415499836&quot; /&gt;&lt;a name=&quot;_Toc415498671&quot; /&gt;&lt;a name=&quot;_Toc415498547&quot; /&gt;&lt;a name=&quot;_Toc415498318&quot; /&gt;&lt;a name=&quot;_Toc413337846&quot; /&gt;&lt;a name=&quot;_Toc412626178&quot; /&gt;&lt;a name=&quot;_Toc381783358&quot; /&gt;&lt;a name=&quot;_Toc379874078&quot; /&gt;&lt;a name=&quot;_Toc355707608&quot; /&gt;&lt;a name=&quot;_Toc351013989&quot; /&gt;&lt;a name=&quot;_Toc320264336&quot; /&gt;&lt;a name=&quot;_Toc318995689&quot; /&gt;&lt;a name=&quot;_Toc318995487&quot; /&gt;&lt;a name=&quot;_Toc316896275&quot; /&gt;&lt;a name=&quot;_Toc312767244&quot; /&gt;&lt;a name=&quot;_Toc289782425&quot; /&gt;&lt;a name=&quot;_Toc285698338&quot; /&gt;&lt;a name=&quot;_Toc285642819&quot; /&gt;&lt;a name=&quot;_Toc285538685&quot; /&gt;&lt;a name=&quot;_Toc285477046&quot; /&gt;&lt;a name=&quot;_Toc285472585&quot; /&gt;&lt;a name=&quot;_Toc316896274&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(iii)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Dividends payable&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:28.4pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Dividends on shares are paid and provisioned during the year. In the Meeting of Shareholders are destined at &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt;least the equivalent of 30% of the annual net income, in accordance with the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;the Company&amp;#39;s Bylaws&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;&quot;&gt;. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Dividends approved and declared after the reporting date of the financial statements, are disclosed in the notes as subsequent events.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;&quot;&gt;&lt;a name=&quot;_Toc474923280&quot; /&gt;&lt;a name=&quot;_Toc474919331&quot; /&gt;&lt;a name=&quot;_Toc415565858&quot; /&gt;&lt;a name=&quot;_Toc415499837&quot; /&gt;&lt;a name=&quot;_Toc415498672&quot; /&gt;&lt;a name=&quot;_Toc415498548&quot; /&gt;&lt;a name=&quot;_Toc415498319&quot; /&gt;&lt;a name=&quot;_Toc413337847&quot; /&gt;&lt;a name=&quot;_Toc412626179&quot; /&gt;&lt;a name=&quot;_Toc381783359&quot; /&gt;&lt;a name=&quot;_Toc379874079&quot; /&gt;&lt;a name=&quot;_Toc355707609&quot; /&gt;&lt;a name=&quot;_Toc351013990&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;(iv)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;&quot;&gt;Capital transactions&lt;/font&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Capital transactions are transactions between partners qualified as investment owners. These transactions modify the equity held by the controlling shareholder in a subsidiary. Since there is no loss of control, the difference between the amount paid and the fair value of the transaction is recognized directly in equity.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;</bbd:DescriptionOfAccountingPolicyForEquityTextBlock>
  <bbd:SummarizedBalanceForTheAcquisitionTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&amp;#231;os (HSBC Brasil) at the date of acquisition:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;page-break-inside:avoid;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Accounting&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustments &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair Value (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and cash equivalents&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,476,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Desposits with the central banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,895,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,364,585&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,650,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,714,569&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,881,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,745,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,450&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Property and equipment, net of accumulated depreciation &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,175,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;622,246&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;558,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,551,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,808,692&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;848,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,657,391&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,808,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,766,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,790,048)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from securities issued&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,187,105)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(64,701)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,251,806)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,401,348)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,429,291)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(42,242,831)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sub-total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,066,683&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;50%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Total amount of s&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;hareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.&lt;/font&gt;&lt;/p&gt;</bbd:SummarizedBalanceForTheAcquisitionTextBlock>
  <ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The fair value of the consideration transferred was composed as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Payment to HSBC Latin America Holding Limited, net of adjustment after closure &lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,665,367&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Adjustment to the cost acquisition related to the fair value of the firm commitment&lt;sup&gt; (2)&lt;/sup&gt;&lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,623,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;83%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:5.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes the IOF collection, and withholding Income Tax; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2) Includes the results from changes to the fair value &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt; h&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfFairValueMeasurementOfAssetsExplanatory>
  <ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In December 2016, Bradesco, based on a study report on purchase price allocation (&quot;PPA&quot;), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;89%&quot; style=&quot;border-collapse:collapse;margin-left:45.95pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholders&amp;#39; equity acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,294,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of assets acquired and liabilities assumed&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(221,361)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets acquired&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill in the acquisition of the &quot;HSBC Bank&quot; and &quot;HSBC Servi&amp;#231;os&quot; investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;84%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value of the consideration transferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,288,470&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory>
<!-- ELement Id ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory -->
  <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main subsidiaries included in the consolidated financial statements are as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;margin-left:.5in;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Base_de_Consolidacao_Controladas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Activity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Country&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Alvorada S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Financiamentos S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Boavista Interatl&amp;#226;ntico S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Argentina S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Argentina&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.99%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Europa S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Luxembourg&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BERJ S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradescard S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco BBI S.A. (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment bank&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.81%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Bradesco Cart&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Administradora de Cons&amp;#243;rcios Ltda. &lt;/font&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradseg Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Auto/RE Cia. de Seguros&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Capitaliza&amp;#231;&amp;#227;o S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Odontoprev S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dental care&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Leasing S.A. Arrendamento Mercantil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leasing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#193;gora Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco S.A. Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Sa&amp;#250;de S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance / Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Seguros S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesplan Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;BRAM - Bradesco Asset Management S.A. DTVM&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tempo Servi&amp;#231;os Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Uni&amp;#227;o Participa&amp;#231;&amp;#245;es Ltda.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banco Losango S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Administradora de Cons&amp;#243;rcios Ltda (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Bank Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bradesco Kirton Corretora de T&amp;#237;tulos e Valores Mobili&amp;#225;rios S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Capitaliza&amp;#231;&amp;#227;o S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99.97%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Seguros S.A. (4) (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.54%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98.08%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Vida e Previd&amp;#234;ncia S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pension plan/Insurer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Kirton Participa&amp;#231;&amp;#245;es e Investimentos Ltda (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Holding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazil&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In November, 2017, Banco Boavista Interatl&amp;#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In May 2017, Kirton Administradora de Cons&amp;#243;rcios Ltda. was merged into Bradesco Administradora de Cons&amp;#243;rcios Ltda.; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest, by means of acquisition of shares held by minority shareholders; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Increase in interest by means of subscription of shares in July 2017; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(5)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Company merged into Kirton Seguros S.A., in July 2017.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
  <ifrs-full:DisclosureOfCreditRiskExposureExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We present below the credit risk exposure of the financial instruments.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Exposicao_Risco_Credito&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Exposicao_Risco_Credito&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;599,199,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;497,974,002&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total items recorded in the balance sheet (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,100,876,068&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,074,213,502&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total items not recorded in the balance sheet (Note 41)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,089,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,298,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total risk exposure&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,383,965,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,390,511,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfCreditRiskExposureExplanatory>
  <bbd:DerivativeFinancialInstrumentsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Derivative Financial Instruments&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Inst_Financeriros_Derivativos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Inst_Financeriros_Derivativos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Traded in the stock exchange&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,068,418&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;OTC contract&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,778,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,687,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:DerivativeFinancialInstrumentsTextBlock>
  <bbd:PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We present below the portfolio of loans and advances to banks as rated internally by the Organization:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Low risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,253,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,845,534&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock>
  <bbd:TheOrganizationsLoansAndAdvancesToCustomersTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization&amp;#39;s loans and advances to customers are classified as &amp;#8220;impaired&amp;#8221; when they fall in at least one of the following situations: (a) are delinquent more than 90 days, except for housing loan operations secured by residential property (overdue more than 180 days) and/or; (b) have incurred a loss and/or; (c) have been renegotiated and/or; (d) have been reclassified as a higher risk level; and/or (e) have been subject to bankruptcy events. The internal models used by the Organization are based on client or product.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Neither past due nor impaired (i)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;321,595,918&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,337,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due but not impaired (ii)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,684,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,612,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impaired (iii)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheOrganizationsLoansAndAdvancesToCustomersTextBlock>
  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpairedTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;&quot;&gt;&lt;a name=&quot;_Toc284697568&quot; /&gt;&lt;a name=&quot;_Toc474923292&quot; /&gt;&lt;a name=&quot;_Toc474919343&quot; /&gt;&lt;a name=&quot;_Toc415565870&quot; /&gt;&lt;a name=&quot;_Toc415499849&quot; /&gt;&lt;a name=&quot;_Toc415498684&quot; /&gt;&lt;a name=&quot;_Toc415498560&quot; /&gt;&lt;a name=&quot;_Toc415498331&quot; /&gt;&lt;a name=&quot;_Toc413337859&quot; /&gt;&lt;a name=&quot;_Toc412626191&quot; /&gt;&lt;a name=&quot;_Toc381783371&quot; /&gt;&lt;a name=&quot;_Toc379874091&quot; /&gt;&lt;a name=&quot;_Toc355707621&quot; /&gt;&lt;a name=&quot;_Toc351014002&quot; /&gt;&lt;a name=&quot;_Toc320264348&quot; /&gt;&lt;a name=&quot;_Toc318995702&quot; /&gt;&lt;a name=&quot;_Toc318995500&quot; /&gt;&lt;a name=&quot;_Toc316896287&quot; /&gt;&lt;a name=&quot;_Toc312767254&quot; /&gt;&lt;a name=&quot;_Toc289782435&quot; /&gt;&lt;a name=&quot;_Toc285698351&quot; /&gt;&lt;a name=&quot;_Toc285642832&quot; /&gt;&lt;a name=&quot;_Toc285538697&quot; /&gt;&lt;a name=&quot;_Toc285477058&quot; /&gt;&lt;a name=&quot;_Toc285472597&quot; /&gt;&lt;a name=&quot;_Toc284885062&quot; /&gt;&lt;a name=&quot;_Toc316896286&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;(i)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers neither past due nor impaired &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Low risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,535,667&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;325,170,838&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Medium risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,895,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,269,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,164,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;321,595,918&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,337,152&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpairedTextBlock>
  <bbd:TheIndividuallyMaterialLoansAndAdvancesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The individually material loans and advances may be presented in this category when, based on the individual analysis, it is not necessary to record an individual impairment loss and, accordingly, the asset is then subject to a collective loss analysis.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Vencidos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Vencidos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due up to 60 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,177,461&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,737,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due between 61 and 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,302,186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,608,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due for more than 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;204,667&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,684,314&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,612,906&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheIndividuallyMaterialLoansAndAdvancesTextBlock>
  <bbd:LoansAndAdvancesToCustomersImpairedTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;&quot;&gt;&lt;a name=&quot;_Toc474923294&quot; /&gt;&lt;a name=&quot;_Toc474919345&quot; /&gt;&lt;a name=&quot;_Toc415565872&quot; /&gt;&lt;a name=&quot;_Toc415499851&quot; /&gt;&lt;a name=&quot;_Toc415498686&quot; /&gt;&lt;a name=&quot;_Toc415498562&quot; /&gt;&lt;a name=&quot;_Toc415498333&quot; /&gt;&lt;a name=&quot;_Toc413337861&quot; /&gt;&lt;a name=&quot;_Toc412626193&quot; /&gt;&lt;a name=&quot;_Toc381783373&quot; /&gt;&lt;a name=&quot;_Toc379874093&quot; /&gt;&lt;a name=&quot;_Toc355707623&quot; /&gt;&lt;a name=&quot;_Toc351014004&quot; /&gt;&lt;a name=&quot;_Toc320264350&quot; /&gt;&lt;a name=&quot;_Toc318995704&quot; /&gt;&lt;a name=&quot;_Toc318995502&quot; /&gt;&lt;a name=&quot;_Toc316896290&quot; /&gt;&lt;a name=&quot;_Toc312767256&quot; /&gt;&lt;a name=&quot;_Toc289782437&quot; /&gt;&lt;a name=&quot;_Toc285698353&quot; /&gt;&lt;a name=&quot;_Toc285642834&quot; /&gt;&lt;a name=&quot;_Toc285538699&quot; /&gt;&lt;a name=&quot;_Toc285477060&quot; /&gt;&lt;a name=&quot;_Toc285472599&quot; /&gt;&lt;a name=&quot;_Toc284885064&quot; /&gt;&lt;a name=&quot;_Toc284697570&quot; /&gt;&lt;a name=&quot;_Toc316896289&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;(iii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Loans and advances to customers impaired&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Portfolio not yet due&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,342,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,567,703&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due up to 60 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,915,081&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,067,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#333333&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due between 61 and 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,279,795&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,284,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Past due for more than 90 days&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,996,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,214,755&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:LoansAndAdvancesToCustomersImpairedTextBlock>
  <bbd:LoansAndAdvancesImpairedByCategoryTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The following table presents the loans and advances impaired by category:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Por_Modalidade&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc285698354&quot; /&gt;&lt;a name=&quot;_Toc285642835&quot; /&gt;&lt;a name=&quot;_Toc285538700&quot; /&gt;&lt;a name=&quot;_Toc285477061&quot; /&gt;&lt;a name=&quot;_Toc285472600&quot; /&gt;&lt;a name=&quot;_Toc284885065&quot; /&gt;&lt;a name=&quot;_Toc284697571&quot; /&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Por_Modalidade&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,158,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,962,131&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Working capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,052,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,940,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personal credit&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,632,789&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,951,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Housing loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,071,447&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,553,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financing and export&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,770,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,456,658&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicles - CDC (Direct consumer credit)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,333,748&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,651,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rural loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;946,282&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending BNDES/Finame&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;780,985&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,052,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for individuals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;638,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;882,992&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisition of assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;295,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;459,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for corporates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;406,296&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,559,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,869,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,533,433&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,133,815&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:LoansAndAdvancesImpairedByCategoryTextBlock>
  <bbd:ChangesMadeAndOurAnalysisOfOurPortfolioOfRenegotiatedLoansAndAdvancesToCustomersTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The following table shows changes made and our analysis of our portfolio of renegotiated loans and advances to customers:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Clientes_Renegociados&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Clientes_Renegociados&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Opening balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,501,423&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,728,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional renegotiated amounts, including interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,185,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,777,814&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments received&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,108,040)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,997,802)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,395,377)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,007,312)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Closing balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,183,869&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,501,423&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,853,777)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,346,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances to customers, net of impairment at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,330,092&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,155,026&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances as a percentage of the total loan portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ChangesMadeAndOurAnalysisOfOurPortfolioOfRenegotiatedLoansAndAdvancesToCustomersTextBlock>
<!-- ELement Id bbd_ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock -->
  <bbd:ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;a name=&quot;_Toc285698355&quot; /&gt;&lt;a name=&quot;_Toc285642836&quot; /&gt;&lt;a name=&quot;_Toc285538701&quot; /&gt;&lt;a name=&quot;_Toc285477062&quot; /&gt;&lt;a name=&quot;_Toc285472601&quot; /&gt;&lt;a name=&quot;_Toc284885066&quot; /&gt;&lt;a name=&quot;_Toc284697572&quot; /&gt;&lt;a name=&quot;_Toc279663382&quot; /&gt;&lt;a name=&quot;_Toc474923297&quot; /&gt;&lt;a name=&quot;_Toc474919348&quot; /&gt;&lt;a name=&quot;_Toc415565875&quot; /&gt;&lt;a name=&quot;_Toc415499854&quot; /&gt;&lt;a name=&quot;_Toc415498689&quot; /&gt;&lt;a name=&quot;_Toc415498565&quot; /&gt;&lt;a name=&quot;_Toc415498336&quot; /&gt;&lt;a name=&quot;_Toc413337864&quot; /&gt;&lt;a name=&quot;_Toc412626196&quot; /&gt;&lt;a name=&quot;_Toc381783376&quot; /&gt;&lt;a name=&quot;_Toc379874096&quot; /&gt;&lt;a name=&quot;_Toc355707626&quot; /&gt;&lt;a name=&quot;_Toc351014007&quot; /&gt;&lt;a name=&quot;_Toc320264353&quot; /&gt;&lt;a name=&quot;_Toc318995707&quot; /&gt;&lt;a name=&quot;_Toc318995505&quot; /&gt;&lt;a name=&quot;_Toc316896293&quot; /&gt;&lt;a name=&quot;_Toc312767259&quot; /&gt;&lt;a name=&quot;_Toc289782439&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;&quot;&gt;Concentration of credit risk in loans and advances &lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;h3 style=&quot;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/h3&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Concen_de_Risco_Cred&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Concen_de_Risco_Cred&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Largest borrower&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100 largest borrowers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock>
  <bbd:TheCreditriskConcentrationAnalysisTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The credit-risk concentration analysis presented below is based on the economic activity sector in which the counterpart operates.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emp_e_Adiant_Setor_Atividade&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emp_e_Adiant_Setor_Atividade&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 - R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Public sector&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,676,927&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.6&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,813,581&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Oil, derivatives and aggregate activities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,410,382&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.5&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,813,581&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Production and distribution of electricity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other industries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;265,223&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Private sector&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;364,136,738&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97.4&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;383,270,292&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97.8&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,148,345&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.9&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;212,344,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54.2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate and construction activities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,383,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,888,418&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,935,638&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,346,471&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6.5&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,996,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,172,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation and concession&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,190,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,044,780&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Automotive&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,014,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,148,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Food products&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,866,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,870,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Wholesale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,045,916&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,704,646&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Production and distribution of electricity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,360,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.0&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,255,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Siderurgy and metallurgy&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,001,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,800,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.0&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sugar and alcohol&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,042,811&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,514,693&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other industries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,311,145&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14.8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,598,603&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Individuals&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;173,988,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46.5&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,925,871&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.6&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;52%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of net loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheCreditriskConcentrationAnalysisTextBlock>
  <bbd:FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The table below presents financial assets and liabilities subject to compensation.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:559.500000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; rowspan=&quot;3&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;48%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial assets, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount offset in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;9&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial liabilities, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount offset in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;50%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial assets, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount not cleared in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;10&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount of financial liabilities, gross&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related amount not cleared in the Balance Sheet&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;49%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;15%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;14%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;14%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock>
  <bbd:FinancialExposureTradingPortfolioTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc282513956&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial Exposure - Trading Portfolio (Fair value)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Exp_Financeira_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc282513957&quot; /&gt;&lt;a name=&quot;IFRS_Exp_Financeira_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,614,849&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,184,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,026,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,806,553&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IGP-M (General Index of market pricing) / IPCA (Consumer price index)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,053,893&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;532,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,819&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;404,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,808,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,658,084&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;997,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;878,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,808,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,005,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,024,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;461,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;468,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;560,619&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,252&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,301,628&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;906,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;257,537&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,517&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,421&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,566,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,406,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,880,333&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,020,336&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:FinancialExposureTradingPortfolioTextBlock>
  <bbd:TheDayVarOfTradingPortfolioNetOfTaxEffectsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The 1-day VaR of Trading Portfolio net of tax effects in end of 2017 was R$ 14,417 thousand, with the interest rate risk as the largest participation of the portfolio. &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_VaR_Modelo_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_VaR_Modelo_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,956&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IGP-M (General Index of market pricing) / IPCA (Consumer price index)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;416&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;289&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Correlation/diversification effect&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,379)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,892)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,417&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,910&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,408&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheDayVarOfTradingPortfolioNetOfTaxEffectsTextBlock>
  <bbd:TheCapitalIsCalculatedByTheNormalDeltaVarModelBasedInRegulatoryPortfolioTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The capital is calculated by the normal delta VaR model based in Regulatory Portfolio, composed by Trading Portfolio and the Foreign Exchange Exposures and the Commodities Exposure of the Banking Portfolio. In addition, the historical simulation and the Delta-Gama-Vega models of risk are applied to measure all risk factors to an options portfolio, whichever is the most conservative. In this model, risk value is extrapolated to the regulatory&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; horizon&lt;sup&gt;(&lt;a href=&quot;#_ftn1&quot; name=&quot;_ftnref1&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;/font&gt;&lt;/font&gt;&lt;/a&gt;&lt;/sup&gt;&lt;/font&gt;&lt;sup&gt;&lt;a href=&quot;#_ftn1&quot; name=&quot;_ftnref1&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;font style=&quot;font-family:Times New Roman,serif;vertical-align:super;&quot;&gt;&lt;u&gt;&lt;font color=&quot;blue&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;[1]&lt;/font&gt;&lt;/u&gt;&lt;/font&gt;&lt;/font&gt;&lt;/a&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;)&lt;/font&gt;&lt;/sup&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; (at least ten days) &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;by the &amp;#8216;square root of time&amp;#39; method. VaR and Stressed VaR shown below refer to a ten-day horizon and are net of tax effects.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_VaR_Modelo_Carteira_Regulatoria&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc282513958&quot; /&gt;&lt;a name=&quot;IFRS_VaR_Modelo_Carteira_Regulatoria&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stressed&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stressed&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,231&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;149,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,300&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commodity price (Commodities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Correlation/diversification effect&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,429&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,872)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,296)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VaR at the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,489&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;179,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,803&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,810&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum VaR in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;369,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,895&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,105&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;247,814&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheCapitalIsCalculatedByTheNormalDeltaVarModelBasedInRegulatoryPortfolioTextBlock>
  <bbd:ThePossibleImpactsOnPositionsInStressScenariosTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The Organization also assesses on a daily basis, the possible impacts on positions in stress scenarios for the next 20 business days, with limits established in the governance process. Thus, considering the effect of diversification between the risk factors and the tax effects, the average of the possible loss estimates in a stress situation would be R$ 168,751&amp;#160;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; in 2017 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(2016 - R$&amp;#160;198,274 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;, and the maximum estimated loss in the year of 2017 would be R$ 387,884 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(2016 - R$ 371,395 &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;thousand&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Estresse_Carteira_Trading&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Estresse_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;338,004&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minimum in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maximum in the year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;387,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;371,395&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ThePossibleImpactsOnPositionsInStressScenariosTextBlock>
  <bbd:SensitivityAnalysisTradingPortfolioTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity Analysis - Trading Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Carteira_Trading&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;6&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Carteira_Trading&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading Portfolio (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in fixed interest rates and interest rate coupons&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(359)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(61,497)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(120,385)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,074)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(293,350)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(568,367)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in price index coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,576)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(33,298)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,723)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,174)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in foreign currency coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(437)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to exchange rate variations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,629)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,736)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(81,473)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(106)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,649)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,297)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variation in stock prices&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,215)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,378)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(60,757)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in the interest rate of securities traded on the international market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,469)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(61,730)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(123,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,464)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,649)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,751)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure not classified in other definitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(39)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total excluding correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,828)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,337)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420,213)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,672)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(311,614)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(606,065)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total including correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,448)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(131,662)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(259,684)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,058)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(295,900)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(574,058)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt;</bbd:SensitivityAnalysisTradingPortfolioTextBlock>
  <bbd:SensitivityAnalysisTradingAndBankingPortfolioTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity Analysis - Trading and Banking Portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Cart_Trading_Banking&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;6&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Cart_Trading_Banking&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading and Banking Portfolios (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Scenarios&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in fixed interest rates and interest rate coupons&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,339,939)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,560,181)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,994)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,466,388)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,786,687)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in price index coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(512)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(56,130)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(107,716)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,255)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,224,208)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,264,187)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in foreign currency coupon rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,575)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(80,110)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(158,548)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(455)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49,446)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(93,726)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to exchange rate variations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(600)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,004)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,008)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(867)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,663)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(43,327)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variation in stock prices&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,289)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(407,237)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(814,475)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,817)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(370,420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(740,841)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sovereign/Eurobonds and Treasuries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure subject to variations in the interest rate of securities traded on the international market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,978)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(205,764)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(406,054)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,786)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,940)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,801)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure not classified in other definitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(307)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(613)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(55)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total excluding correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,545)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,104,491)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,077,595)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,175)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,148,093)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,961,624)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total including correlation of risk factors&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,678,101)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,232,466)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,893)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,691,157)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,090,253)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt;</bbd:SensitivityAnalysisTradingAndBankingPortfolioTextBlock>
  <bbd:TheLevelOfTheRatioBetweenHighQualityLiquidAssetsAndTotalNetCashOutflowsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;In accordance with the LCR implantation schedule, the level of the ratio between HQLA and total net cash outflows must comply with the following schedule:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;586&quot; style=&quot;border-collapse:collapse;margin-left:42.55pt;width:439.250000pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;As of 2019&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;% Required&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheLevelOfTheRatioBetweenHighQualityLiquidAssetsAndTotalNetCashOutflowsTextBlock>
<!-- ELement Id bbd_TheAverageLcrPrudentialConglomerateTextBlock -->
  <bbd:TheAverageLcrPrudentialConglomerateTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below shows the average LCR Prudential Conglomerate:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;100%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;100%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Information on the Liquidity Coverage Ratio (LCR)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;25%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;25%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average Amount (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted Average Amount (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Average Amount (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted Average Amount (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;High Quality Liquid Assets (HQLA)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total High Quality Liquid Assets (HQLA)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,596,242&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,652,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash Outlows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail funding:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;210,005,411&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,749,477&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,352,566&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,702,571&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Stable funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,661,528&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,783,076&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;140,847,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,225,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Less stable funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,343,883&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,966,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,504,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,477,135&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-collateralized wholesale funding:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;112,474,083&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,716,519&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,652,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,853,687&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Operating deposits (all counterparties) and affiliated cooperative deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,152,936&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;407,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,226,398&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;192,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-operating deposits (all counterparties)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,275,838&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,263,563&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,809,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,044,388&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other non-collateralized wholesale funding&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,045,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,045,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;616,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;616,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collateralized wholesale funding&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,656,909&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,808,725&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional requirements:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,751,894&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,746,422&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,952,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,328,908&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to exposure to derivatives and other collateral requirements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,192,265&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,089,564&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,283,688&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,017,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to funding losses through the issue of debt instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;345,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;345,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Related to lines of credit and liquidity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;82,214,055&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,311,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,635,254&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,305,282&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other contractual obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,492,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,811,462&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,749,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,749,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other contingent obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,133,680&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,160,312&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156,190,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,581,011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total cash outflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;122,841,100&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,024,048&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of Line&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash Inflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;17&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collateralized loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,500,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;189,610,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;937,935&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outstanding loans whose payments are fully up-to-date&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,424,050&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,009,387&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,529,539&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,090,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other cash inflows&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,624,328&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,429,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,079,562&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,347,511&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total cash inflows&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,549,018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,438,620&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;248,219,178&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,376,396&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Adjusted Amount (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Adjusted Amount (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total HQLA&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,596,242&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,652,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total net cash outflow&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,402,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,647,652&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;44%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;LCR (%) (5)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156.2%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181.8%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculated based on the simple daily average of the months that compose the quarter (61 observations);&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the total balance related to the item of cash inflows or outflows;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the value after application of the weighting factors; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corresponds to the calculated value after the application of weighting factors and limits.&lt;/font&gt;&lt;/p&gt;</bbd:TheAverageLcrPrudentialConglomerateTextBlock>
  <bbd:TheCashFlowsPayableForNonderivativeFinancialLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below presents the cash flows payable for non-derivative financial liabilities, covering the remaining contractual period to maturity as from the date of the consolidated statement of financial position. The values disclosed in this table represent the undiscounted contractual cash flows.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:617.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;197,275,471&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,199,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,240,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,251,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,593,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,559,737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,846,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,519,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,476,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,861,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;272,820,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,346,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,222,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,548,689&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,143,455&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,503,901&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,765,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;896,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,705,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,942,643&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,064,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,166,577&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,775,114&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.606.124 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.785.744 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.290.146 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.711.492 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.046.006 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62.439.512 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;386.970.874 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.432.201 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;142.498.027 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240.031.836 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45.427.229 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;865.360.167 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;10&quot; width=&quot;61%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,104,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,369,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,893,343&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,316,125&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,602,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,285,779&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;137,186,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,655,017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,460,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,377,222&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;250,783,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,239,074&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,971,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,896,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91,190,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,850,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;194,148,983&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;439,974&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,268,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,958,373&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,756,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,110,903&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,534,166&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,547,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,025,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,516,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,837,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,663,580&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,590,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;355,517,060&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,290,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;177,725,471&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,477,698&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,331,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;894,342,738&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;1%&quot; style=&quot;padding:0in 0in 0in 0in;&quot;&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;37%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;9%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;11%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheCashFlowsPayableForNonderivativeFinancialLiabilitiesTextBlock>
  <bbd:TheDerivativeFinancialLiabilitiesThatWillBeSettledAtNetValueTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below analyzes the derivative financial liabilities that will be settled at net value, grouped based on the period remaining from the reporting date to the respective maturity date. The values disclosed in the table are undiscounted cash flows.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Differential of swaps payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;279,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;536,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,169,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,276,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-deliverable forwards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,761&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;147,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Purchased&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,599&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90,914&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;737&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;284,403&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Sold&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,516&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums of options&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;551,220&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,510&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63,052&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;965,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment payables - future&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of derivative liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,774&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;234,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;718,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,299,451&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;469,975&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,909,498&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 1 month&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 3 months&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 3 months to 1 year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Differential of swaps payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,426,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,769&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;546,569&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,695,486&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,021,775&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-deliverable forwards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,772,919&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,887&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;542,923&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,670&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,739,946&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Purchased&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;212,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;534,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,289&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,155,258&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226; Sold&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,123&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,584,688&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums of options&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,154&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,658&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment payables - future&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of derivative liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,369,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;476,998&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,129,646&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,897,373&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,832&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,043,543&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheDerivativeFinancialLiabilitiesThatWillBeSettledAtNetValueTextBlock>
  <bbd:TheFinancialAssetsAndLiabilitiesOfTheOrganizationSegregatedByMaturitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the financial assets and liabilities of the Organization segregated by maturities used for the management of liquidity risks, in accordance with the remaining contractual maturities on the reporting date:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_BP_por_Prazos_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_por_Prazos_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 30 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31 to 180 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181 to 360 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,181,714&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,934,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,501,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,527,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,173,284&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,391,854&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,422,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,392,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,351,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,816,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,391,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,284,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,691,766&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,977,537&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,922,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,543,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,965,417&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,565,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,975,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,136,673&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,544,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,387,187&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,754,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;424,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,830,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,715,548&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,526,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,151,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,535,303&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,375,820&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,340,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,807,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,322,882&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,872,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,719,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;229,674,750&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;217,852,842&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,137,397&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;408,822,292&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;167,655,369&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,429,661&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,126,572,311&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;197,177,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,640,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,589,994&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,221,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,328,751&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;142,525,722&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,400,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,531,633&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,523,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,552,386&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,643&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;305,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,422,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,299,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,540,240&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,142,979&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;768,374&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;738,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,428,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;640,536&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,767,242&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,603,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,499,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,411,996&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;939,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,239,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,606,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,785,744&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,290,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,711,492&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,046,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,439,512&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;608,522,508&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,169,344&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,612,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,739,550&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,079,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,049,123,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_por_Prazos_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;73%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 30 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31 to 180 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181 to 360 days&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1 to 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;More than 5 years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and balances with banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,475,080&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,768,610&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,759,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,589,655&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,837,056&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,710,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,629,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,149,003&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,251,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,143,446&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,932,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,069,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,646,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,394,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,904,827&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,753,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,586,901&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,286,577&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,759,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,545,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,120,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,398,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,151,213&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,409,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,879,049&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,744,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,119,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial assets (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,657,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;633,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,384,379&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,207,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,171,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,874,327&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,879,131&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,100,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;394,054,061&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,978,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,527,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,098,414,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162,977,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;63,417,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,850,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,045,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,371,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;137,252,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,331,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,457,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,641,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,455&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,428,599&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;534,525&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;279,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;192,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,295,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,280,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,140,968&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,237,747&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,148,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;426,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,904,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,068,023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,554,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,657,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,739,608&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,342,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,306,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,451,293&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial liabilities (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,547,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,025,726&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,516,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,837,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,663,580&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,590,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,667,769&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;140,836,645&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,619,800&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;231,960,711&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,905,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,028,990,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(1)&amp;#160; Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(2) Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(3) Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.&lt;/font&gt;&lt;/p&gt;</bbd:TheFinancialAssetsAndLiabilitiesOfTheOrganizationSegregatedByMaturitiesTextBlock>
  <bbd:TheAssetsAndLiabilitiesOfTheCompanySegregatedByCurrentAndNoncurrentTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The tables below show the assets and liabilities of the Organization segregated by current and non-current, on the reporting date:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_BP_Circulante_Nao_Circulante_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_Circulante_Nao_Circulante_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;531,664,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;594,907,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,126,572,311&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associated companies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premises and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets and goodwill, net of accumulated amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Taxes to be offset&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,589,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,934,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,524,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,731,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,731,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,602,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,531,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,134,504&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,713,623&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;85,067,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,781,129&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,378,612&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;679,974,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;796,304,508&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;252,818,997&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,049,123,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other reserves&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,349,366&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,141,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,490,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current income tax liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,416,345&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,416,345&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,344&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,215,503&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,251,847&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,460,225&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,917,087&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,377,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,262,280&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,273,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,536,231&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,693,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,693,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;833,566,788&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,786,652&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;a name=&quot;_Toc279663407&quot; /&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_BP_Circulante_Nao_Circulante_Anteri&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,853,712&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;569,560,305&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,098,414,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associated companies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premises and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible assets and goodwill, net of accumulated amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Taxes to be offset&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,114,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,608,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,723,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,116,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,116,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,278,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,720,504&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,999,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,972,250&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,643,389&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,615,639&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;538,825,962&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;653,203,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;766,124,214&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,865,819&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,028,990,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other reserves&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,293,374&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,999,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,292,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current income tax liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,130,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,130,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred income tax assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,943&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,726,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,762,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,917,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;457,509&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,374,773&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total non-financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,377,867&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,182,549&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,560,416&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,479,207&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,479,207&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;807,502,081&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;384,527,575&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheAssetsAndLiabilitiesOfTheCompanySegregatedByCurrentAndNoncurrentTextBlock>
  <bbd:TheCompositionOfTheFinancialAssetsAndLiabilitiesMeasuredAtFairValueTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below present the composition of the financial assets and liabilities measured at fair value, classified using the hierarchical levels:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Valor_Justo_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:561.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Valor_Justo_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; width=&quot;57%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGED5&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;57%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,273,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,975,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;202,249,272&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,716,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,271,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,339,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,952,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,396,254&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,348,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,847,345&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,643,365&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,446&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,843,156&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (assets)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,601&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,814,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (liabilities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,264,124)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,875)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,274,999)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,601&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(449,812)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,903)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(408,114)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,237,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,123&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,281,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,786,078&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,740,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,451,696&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,978,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,086,454&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,380,606&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,261,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,395,469&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available-for-sale securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,421,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,099,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,891,288&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,841,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,841,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,283,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,283,978&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;43%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;386,599,371&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,293,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,238,831&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;447,131,742&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Valor_Justo_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;7&quot; width=&quot;55%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,346,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,756,680&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;79&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,103,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,740,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,356,302&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,145&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,383,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;470,676&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,129,451&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,600,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,295,403&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,378&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,303,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;167,846,369&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,250,811&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;196,384,404&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (assets)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,632&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,728,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments (liabilities)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,427,053)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,625)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,435,678)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,632&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,301,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,617)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,319,764&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,149,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,198,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,470,652&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,431,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,240,826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,142,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,157&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;495,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,387,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,706,578&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,723,825&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available-for-sale securities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,471,507&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,633,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,013,353&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,812,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,812,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,557,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,557,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;304,902,495&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,186,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,291,960&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;383,380,709&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;43%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;12%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;2%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;12%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheCompositionOfTheFinancialAssetsAndLiabilitiesMeasuredAtFairValueTextBlock>
  <bbd:ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years 2017 and 2016:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Derivativos_Ativos_Passivos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivativos_Ativos_Passivos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivatives&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;209,210&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,190&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,382)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,274,018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Included in the statement of income and other comprehensive income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,174,225)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,161,070)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,833&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,178,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,194,071&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,633)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(445,173)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(452,834)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer with categories&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;274,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(274,001)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer levels&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(205,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,356,883)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,562,225)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31,&amp;#160; 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,013,353&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,617)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,291,960&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Included in the statement of income and other comprehensive income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(735,002)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,134)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,019,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,714&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,098,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,554)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,406,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,432,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31,&amp;#160; 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,446&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,891,288&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,903)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,238,831&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock>
  <bbd:TheGainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities during the years 2017, 2016 and 2015:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Derivados_Ganhos_Perdas_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(917,271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(927,370)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,868&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(735,002)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,134)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,518&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,164&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,381,389)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,384,752)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,155&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,174,225)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,161,070)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Derivados_Ganhos_Perdas_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;440,791&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,399,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,840,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net trading gains/(losses) realized and unrealized&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,496&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,094,894&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,105,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;451,287&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,494,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,945,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheGainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock>
  <bbd:TheGainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The tables below show the gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities, which were not settled during the years 2017, 2016 and 2015:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,099)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,363)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;45%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) due to changes in fair value&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,420&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheGainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock>
  <ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;a name=&quot;_Toc279663409&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Sensitivity analysis for financial assets classified as Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Analise_Sensib_Financ_Classif_Atual&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Financ_Classif_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on income (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on shareholders&amp;#39; equity (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,931)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,482)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(63)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,873)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,345)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,269)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,394)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,351)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(33,783)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(67,567)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,825)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(445,615)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(891,231)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Analise_Sensib_Financ_Classif_Anter&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on income (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impact on shareholders&amp;#39; equity (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(476)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,088)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price indexes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,047)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,953)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,481)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(487,018)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(974,037)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:12.0pt;margin-left:53.45pt;margin-right:21.25pt;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Values net of taxes.&lt;/font&gt;&lt;/p&gt;</ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory>
<!-- ELement Id bbd_CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock -->
  <bbd:CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below summarizes the carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value, classified using the hierarchical levels:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; securities purchased under agreements to resell&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,182,489&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,963,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Banks (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Customers (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,633,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,633,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,716,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,716,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,760,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,760,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,890,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,890,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,012,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;51,012,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair Value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 1&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 2&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Level 3&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; securities purchased under agreements to resell&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,875,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,379,323&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Banks (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Customers (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;362,156,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;362,156,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,497,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,497,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,224,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,224,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,622,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,622,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,436,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,436,792&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock>
  <bbd:DetailedInformationOnTheOrganizationsCapitalInComplianceWithThePrudentialConglomerateTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Following is the detailed information on the Organization&amp;#39;s Capital, in compliance with the &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Prudential&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; Conglomerate:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Detalhamento_PR_Basileia&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;5&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc279663434&quot; /&gt;&lt;a name=&quot;_Toc474923308&quot; /&gt;&lt;a name=&quot;_Toc474919359&quot; /&gt;&lt;a name=&quot;IFRS_Detalhamento_PR_Basileia&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Calculation basis - Capital Adequacy Ratio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basel III&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier I capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,084,744&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,762,886&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common equity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;75,079,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,747,016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholders&amp;#39; equity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;110,457,476&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100,442,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Minority / Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,072&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,615&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential adjustments (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(35,445,771)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,756,012)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additional Capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,004,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,015,870&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier II capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,588,090&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,363,950&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debts (Resolution No. 4.192/13)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,947,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,803,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debts (prior to Resolution No. 4.192/13)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,641,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,560,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reference Equity (a)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,672,834&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,126,836&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Credit risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,928,771&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;589,977,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Market risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,908,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,767,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Operational risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,605,162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,443,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk-weighted assets - RWA (b)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;611,442,138&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;656,188,517&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking Book&amp;#39;s Interest Rate Risk&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,527,467&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,142,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Margin (Capital Buffer) (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,226,583&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,084,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basel ratio (a/b)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.1%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.4%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tier I capital&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13.1%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Principal capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Additional capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;CMN&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; Resolution n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;4,192/13; and&lt;a name=&quot;_Toc474923309&quot; /&gt;&lt;a name=&quot;_Toc474919360&quot; /&gt;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923311&quot; /&gt;&lt;a name=&quot;_Toc474919362&quot; /&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Margin = Minimum (PR - PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.&lt;/font&gt;&lt;/p&gt;</bbd:DetailedInformationOnTheOrganizationsCapitalInComplianceWithThePrudentialConglomerateTextBlock>
  <bbd:DetailedComparisonOfTheRiskweightedAssetsRwaOfThePrudentialConglomerateTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Below is the detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate, regulatory approach:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Detalhamento_Montante_RWA&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Detalhamento_Montante_RWA&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RWA&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prudential&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,928,771&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;589,977,243&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;314,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;271,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,224,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,725,736&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 35%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,208,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,114,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 50%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,635,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,434,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 75%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,553,059&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,017,519&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,938,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,006,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 100%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;261,909,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,369,280&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 250%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,139,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,655,131&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight of 300%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,920,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,825,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Risk Weight up to 1,250%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,085,264&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,555,933&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Market Risk (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,908,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,767,767&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed-rate in Reais&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,696,584&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,537,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign Currency Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;838,259&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,028,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Price Index Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,756,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest Rate Coupon&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;637,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,392&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commodities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;449,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exposure to Gold, Foreign Currencies and Exchange&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,657,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,194,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Operational Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,605,162&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,443,507&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate Finance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,369,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,380,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trading and Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,667,449&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,866,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,308,681&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,349,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;Commercial&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,518,843&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,699,277&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment and Settlement&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,132,749&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,143,694&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial Agent Services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,628,257&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,465,556&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset Management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,827,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,392,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retail Brokerage&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Risk Weighted Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;611,442,138&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;656,188,517&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total Capital Requirement&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,558,398&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,798,616&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking Book&amp;#39;s Interest Rate Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,527,467&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,142,339&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Addicional Common equity (ACPS) (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,171,632&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,101,178&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;ACP Conservation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,643,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,101,178&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;ACP Systemic&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,605&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.&lt;/font&gt;&lt;/p&gt;</bbd:DetailedComparisonOfTheRiskweightedAssetsRwaOfThePrudentialConglomerateTextBlock>
  <bbd:TheSensibilityTestForLifeInsuranceWithSurvivalTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The sensitivity test for Life Insurance with &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Survival, Welfare Coverage&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; and &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Individual Life Insurance&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt; was made considering the same bases of the LAT test with variation in the assumptions listed below:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sensibilidade_Seg_de_Vida_Premissas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sensibilidade_Seg_de_Vida_Premissas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Longevity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Conversion to income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Percentage adjustment to each assumption:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Variation of&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:150%;&quot;&gt;+0.2 p.p.&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;+ 5 p.p.&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-5%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans (contributing period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(60,733)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,057)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,691)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;PGBL and VGBL (contributing period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,446)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(504)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,409)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;All plans(retirement benefit period)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(112,782)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(35,507)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(178,961)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,068)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,100)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheSensibilityTestForLifeInsuranceWithSurvivalTextBlock>
  <bbd:ForDamagesLifeAndHealthInsuranceExceptIndividualLifeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;For damages, life and health insurance, except individual life, the table below shows increase in the events/claims were to rise 1 percentage point over the 12 months from the calculation base date.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Seguros_Sinistralidade&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Seguros_Sinistralidade&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,205)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,940)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,809)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,893)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,333)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,146)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,358)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,050)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,277)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(89,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(89,907)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ForDamagesLifeAndHealthInsuranceExceptIndividualLifeTextBlock>
  <ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Potential exposures are monitored, analyzing certain concentrations in some type of insurance. The table below shows risk concentration by type of insurance (except health and dental), based on net premiums, net of reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net premiums written by type of insurance, net of reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,086,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,924,444&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,525,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,593,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,788,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,499,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,904,576&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,354,034&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;VGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,650,153&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,377,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;PGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,301,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,386,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory>
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/&gt;&lt;a name=&quot;_Toc289782993&quot; /&gt;&lt;a name=&quot;_Toc284327670&quot; /&gt;&lt;a name=&quot;_Toc285697963&quot; /&gt;&lt;a name=&quot;_Toc289424845&quot; /&gt;&lt;a name=&quot;_Toc289782994&quot; /&gt;&lt;a name=&quot;_Toc284327671&quot; /&gt;&lt;a name=&quot;_Toc285697964&quot; /&gt;&lt;a name=&quot;_Toc289424846&quot; /&gt;&lt;a name=&quot;_Toc289782995&quot; /&gt;&lt;a name=&quot;_Toc284327672&quot; /&gt;&lt;a name=&quot;_Toc285697965&quot; /&gt;&lt;a name=&quot;_Toc289424847&quot; /&gt;&lt;a name=&quot;_Toc289782996&quot; /&gt;&lt;a name=&quot;_Toc284327673&quot; /&gt;&lt;a name=&quot;_Toc285697966&quot; /&gt;&lt;a name=&quot;_Toc289424848&quot; /&gt;&lt;a name=&quot;_Toc289782997&quot; /&gt;&lt;a name=&quot;_Toc284327674&quot; /&gt;&lt;a name=&quot;_Toc285697967&quot; /&gt;&lt;a name=&quot;_Toc289424849&quot; /&gt;&lt;a name=&quot;_Toc289782998&quot; /&gt;&lt;a name=&quot;_Toc284327675&quot; /&gt;&lt;a name=&quot;_Toc285697968&quot; /&gt;&lt;a name=&quot;_Toc289424850&quot; 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/&gt;&lt;a name=&quot;_Toc289783011&quot; /&gt;&lt;a name=&quot;_Toc284327688&quot; /&gt;&lt;a name=&quot;_Toc285697981&quot; /&gt;&lt;a name=&quot;_Toc289424863&quot; /&gt;&lt;a name=&quot;_Toc289783012&quot; /&gt;&lt;a name=&quot;_Toc284327689&quot; /&gt;&lt;a name=&quot;_Toc285697982&quot; /&gt;&lt;a name=&quot;_Toc289424864&quot; /&gt;&lt;a name=&quot;_Toc289783013&quot; /&gt;&lt;a name=&quot;_Toc284327690&quot; /&gt;&lt;a name=&quot;_Toc285697983&quot; /&gt;&lt;a name=&quot;_Toc289424865&quot; /&gt;&lt;a name=&quot;_Toc289783014&quot; /&gt;&lt;a name=&quot;_Toc284327691&quot; /&gt;&lt;a name=&quot;_Toc285697984&quot; /&gt;&lt;a name=&quot;_Toc289424866&quot; /&gt;&lt;a name=&quot;_Toc289783015&quot; /&gt;&lt;a name=&quot;_Toc284327692&quot; /&gt;&lt;a name=&quot;_Toc285697985&quot; /&gt;&lt;a name=&quot;_Toc289424867&quot; /&gt;&lt;a name=&quot;_Toc289783016&quot; /&gt;&lt;a name=&quot;_Toc284327693&quot; /&gt;&lt;a name=&quot;_Toc285697986&quot; /&gt;&lt;a name=&quot;_Toc289424868&quot; /&gt;&lt;a name=&quot;_Toc289783017&quot; /&gt;&lt;a name=&quot;_Toc284327694&quot; /&gt;&lt;a name=&quot;_Toc285697987&quot; /&gt;&lt;a name=&quot;_Toc289424869&quot; /&gt;&lt;a name=&quot;_Toc289783018&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Information by operating segment, reviewed by the Organization and corresponding to the years 2017, 2016 and 2015, is shown below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_DRE_Segmento_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEE7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEF7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEG7&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,997,327&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,857,926&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,787,660&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,642,913&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,143,561&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;787,014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,181,747)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,011,351&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,641,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,623,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(685,560)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;542,493&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;570,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gain / (loss) on held-to-maturity investments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(54,520)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(54,520)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,422,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,422,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,694,228&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,595,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,624&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,801,893&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,895,929)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,035,094&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,860,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,261,590)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,589,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,402&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,723,265)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,175,352)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,391,439)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,684,330&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,882,461)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,555,033)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(393,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,380,083&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,568,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,282,411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(889,065)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,133,357)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,170,315)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,263,199)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,265,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,168,486)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,664,801&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,976,782&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,383,565&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,025,148&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,497,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;217,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,162,069&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,193,817&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,387,673&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,743,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,289)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,156,153)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,385,514)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,274,780&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,037,664&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,002,159&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,314,603&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,272,962&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,812,425&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,003,977&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,089,364&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;225,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,818)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;225,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;988,063,541&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;295,699,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(59,410,052)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,224,353,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,364,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,847,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,039&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;875,887,257&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;257,329,282&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,556,803)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,106,659,736&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Anterior&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,156,109&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,374,229&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,132,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,662,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,696,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;651,482&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,007,216)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,918,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,250,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,402,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,417,647)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;805,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(728,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,400)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,652,044&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,211,453&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(495,607)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,367,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,829,460)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,479,182&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,350,278)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,733,611)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,387,935)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,003,783)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,979,689)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,331,349)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,149,563)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,786,599)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(365,656)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,842&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,658,413)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,421,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;173,359&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,004,162)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(67,750,511)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,841,309)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,425,621&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(66,166,199)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and Share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,754,427&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,395,855&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,055,449&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,205,731&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,538,058&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,024)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,292,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,564,546&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,048,425&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,905,456&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,995,420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,915,822)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,001,488)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,297,065&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,648,724&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,046,937&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,992,726&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,293,766&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,550,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,821&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,894,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,299&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,062&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,884)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;921,916,290&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,642,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,471,169&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,192,029,656&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,512,372&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,617&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,789&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;821,182,152&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;266,143,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(775,682)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,086,550,449&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_DRE_Segmento_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year ended December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operations (1), adjustments and eliminations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,934,849&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,973,694&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,727,499&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,636,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,195,003&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,497,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,872,223)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,820,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,199,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(627,343)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(425,315)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,252,055)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(370,947)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(353,679)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(671,810)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net gains/(losses) on foreign currency transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,523,095)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,523,095)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,496,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,497,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,093,439)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,515,125&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(371,141)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,949,455)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,479,985)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,758,833&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,721,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,103,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,217,211)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,679&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,058,047)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,076,913)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,137,706)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;492,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,721,970)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,752,946)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(321,462)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,405&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,942,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,726,387)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(963,525)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(298,641)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,988,553)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other operating expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,139,746)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,639,904)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,347,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(58,431,725)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes and Share of profit of associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,103,333)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,346,805&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,832,060&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,075,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Share of profit of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,865&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,139&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income taxes&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(745,286)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,513,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,835,199&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,603,583&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,621,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,192,918)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(793,929)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,875,883&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,320,752&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,041,270&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,237,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to controlling shareholders&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,874,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,215,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,042,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,132,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Attributable to non-controlling interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,987&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,262)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;104,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;894,579,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;209,789,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(77,666,292)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,026,703,522&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,479,642&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,255,326&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,357&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;804,576,173&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;188,809,573&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,596,986)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;935,788,760&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.&lt;/font&gt;&lt;/p&gt;</bbd:InformationByOperatingSegmentReviewedTextBlock>
  <bbd:NetInterestIncomeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923324&quot; /&gt;&lt;a name=&quot;_Toc284885084&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;6.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Resultado_Liquido_Juros&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Resultado_Liquido_Juros&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,073,435&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,689,348&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,349,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to customers:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,767,081&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;69,530,396&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,472,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Leasing transactions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;254,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;343,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;444,502&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- For trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,684,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,576,526&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,982,927&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,351,320&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,572,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,629,493&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Held to maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,883,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,514,933&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,253,616&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pledged as collateral&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,268,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,739,202&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,270,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Compulsory deposits with the Central Bank&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,881,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,667,516&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,587,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other financial interest income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,553&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,210&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,905&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,232,328&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;147,700,375&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,048,252&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest and similar expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from banks:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Interbank deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(152,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(127,617)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(74,814)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Funding in the open market&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,564,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,767,039)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,509,785)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Borrowings and onlending&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,068,552)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,865,411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,092,184)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Savings accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,730,457)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,712,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,450,258)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;- Time deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,536,161)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,746,203)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,942,386)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,262,613)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,124,502)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,570,606)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,100,017)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,298,555)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,669,830)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance technical provisions and pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,174,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,395,550)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,102,347)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(75,589,415)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(91,037,386)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(71,412,210)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,642,913&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,662,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,636,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NetInterestIncomeTextBlock>
  <bbd:NetFeeAndCommissionIncomeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923325&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;7.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit cards&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,848,855&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,251,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,875,029&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,652,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,030,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,941,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Collections&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,965,601&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,777,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,573,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Guarantees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,570,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,438,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,265,356&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,463,469&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,079,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,054,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Consortium management&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,526,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,278,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,040,109&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Custody and brokerage services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;754,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;618,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;556,701&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Underwriting&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,219&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;733,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;540,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;409,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;382,427&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;755,558&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;758,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;626,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,087&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,856,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fee and commission expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial system services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,203)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,203)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net fee and commission income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,748,828&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,341,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,820,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NetFeeAndCommissionIncomeTextBlock>
  <bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTablesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885085&quot; /&gt;&lt;a name=&quot;_Toc474923326&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;8.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains/(losses) on financial instruments classified as held for trading&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ganhos_Perdas_Ativos_Financ&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ganhos_Perdas_Ativos_Financ&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,862,617&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,654,959&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,174,739)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,426,160)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,887,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,267,748)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;860,011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,190,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,623,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,402,770&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,252,055)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTablesTextBlock>
<!-- ELement Id bbd_NetGainslossesOnFinancialInstrumentsTextBlock -->
  <bbd:NetGainslossesOnFinancialInstrumentsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc284885086&quot; /&gt;&lt;a name=&quot;_Toc474923327&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;9.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net gains/(losses) on financial instruments classified as available for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ganhos_Perdas_Dispon_Venda&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ganhos_Perdas_Dispon_Venda&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income securities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,918,595)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(346,032)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity securities (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;437,054&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;459,223&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(577,401)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dividends received&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;570,358&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,400)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(671,810)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).&lt;/font&gt;&lt;/p&gt;</bbd:NetGainslossesOnFinancialInstrumentsTextBlock>
  <bbd:NetIncomeFromInsuranceAndPensionPlanTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923329&quot; /&gt;&lt;a name=&quot;_Toc284885089&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;11.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Result_Seguros_Previdencia&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Result_Seguros_Previdencia&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Written premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,864,591&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,470,571&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,920,681&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Supplemental pension plan contributions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,090,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,679,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,795,219&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Granted coinsurance premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49,715)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(70,862)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(88,612)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refunded premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(667,196)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(746,244)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(522,309)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net written premiums earned&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,237,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,333,387&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,104,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reinsurance premiums paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(191,088)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(306,265)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(344,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Premiums retained from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,046,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,027,122&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,760,780&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the provision for insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,435,868)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,729,884)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,528,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the provision for private pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,369,903)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,052,034)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,757,963)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the technical&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; provisions for insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(34,805,771)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,781,918)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,286,039)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reported indemnities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,924,687)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,877,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,658,594)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Claims expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(36,068)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(119,201)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(69,599)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of ceded coinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of reinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,913&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;407,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salvage recoveries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;488,057&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;451,930&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;402,718&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in the IBNR provision&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(274,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(204,354)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(892,816)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Retained claims&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,594,962)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,542,433)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,724,043)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commissions on premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,700,131)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,696,002)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,985,426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of commissions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,334&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,927&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,700&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(403,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(489,279)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,201,216)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brokerage expenses - private pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(153,552)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,654)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(188,037)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Changes in deferred commissions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,728)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224,000)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Selling expenses for insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,405,912)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,547,008)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,253,193)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net income from insurance and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,239,990&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,155,763&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,497,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NetIncomeFromInsuranceAndPensionPlanTextBlock>
  <ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;12.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;a name=&quot;_Toc474923330&quot; /&gt;&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and receivables:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(25,780,383)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,357,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,527,976)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of credits charged-off as losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,034,857&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,507,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,144,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversal of impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,884,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,499,257&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;661,945&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,860,835)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(15,350,278)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,721,152)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</ifrs-full:DisclosureOfImpairmentLossAndReversalOfImpairmentLossExplanatory>
  <bbd:PersonnelExpensesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923331&quot; /&gt;&lt;a name=&quot;_Toc284885091&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;13.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Personnel expenses&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Despesas_de_Pessoal&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Despesas_de_Pessoal&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salaries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,170,556)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,236,617)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,369,727)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,385,133)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,625,796)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,994,155)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social security charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,505,290)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,862,067)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,402,112)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employee profit sharing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,572,472)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,451,310)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,304,958)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for labor claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(927,136)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(663,124)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(853,660)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Training&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(162,678)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(164,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(133,435)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,723,265)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(17,003,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,058,047)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes the effects of the Special Voluntary Termination Plan (Note 43).&lt;/font&gt;&lt;/p&gt;</bbd:PersonnelExpensesTextBlock>
  <bbd:OtherAdministrativeExpensesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923332&quot; /&gt;&lt;a name=&quot;_Toc284885092&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;14.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other administrative expenses&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outras_Desps_Adiministrativas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outras_Desps_Adiministrativas&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outsourced services&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,748,308)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,871,194)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,139,058)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Communication&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,684,153)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,653,055)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,427,685)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,117,085)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,612,454)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,222,433)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Advertising and marketing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(942,851)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,124,659)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(963,308)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset maintenance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,158,840)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,060,856)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(926,001)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial system&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,033,017)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,047,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(830,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rental&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,142,166)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,027,561)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,412)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and surveillance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(818,221)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(736,547)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(606,292)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transport&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(782,444)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(719,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(631,085)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Water, electricity and gas&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(405,515)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(384,069)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(339,267)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Advances to FGC (Deposit Guarantee Association)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(418,670)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(355,540)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(303,094)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Supplies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(263,527)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(321,509)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(315,135)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Travel&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(261,911)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(174,772)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(157,723)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,105,753)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,059,887)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(973,278)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,882,461)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,149,563)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,721,970)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:OtherAdministrativeExpensesTextBlock>
  <bbd:DepreciationAmortizationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923333&quot; /&gt;&lt;a name=&quot;_Toc284885093&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;15.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Depreciation and amortization&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,331,240)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,516,777)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,884,281)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,237,328)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,141,636)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,057,722)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,568,568)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,658,413)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,942,003)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:DepreciationAmortizationTextBlock>
  <bbd:OtherOperatingIncomeexpensesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923334&quot; /&gt;&lt;a name=&quot;_Toc284885094&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;16.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other operating income/(expenses)&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Out_Receitas_Desp_Operacionais&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Out_Receitas_Desp_Operacionais&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,960,618)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,331,651)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,791,754)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Legal provision&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,238,057)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,927,734)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,439,460)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Variation in monetary liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(699,719)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(597,240)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income from sales of non-current assets, investments, and property and equipment, net&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(412,957)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(467,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(277,232)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,553,435)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,578,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,882,867)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,133,357)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,004,162)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,988,553)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-.25in;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$&amp;#160;(484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).&lt;/font&gt;&lt;/p&gt;</bbd:OtherOperatingIncomeexpensesTextBlock>
  <bbd:CalculationOfIncomeTaxAndSocialContributionChargesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Calculation of income tax and social contribution charges&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;left&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Demons_Calc_Enc_Contrib_Social&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Demons_Calc_Enc_Contrib_Social&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income before income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,743,559&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,905,456&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,603,583&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total burden of income tax and social contribution at the current rates (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,684,602)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,357,455)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,321,612)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect of additions and exclusions in the tax calculation:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Earnings (losses) of associates and joint ventures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;773,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;764,876&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;687,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest on shareholders&amp;#39; equity (paid and payable)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,241,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,139,102&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,305,695&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net tax credit of deferred liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,341,220&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other amounts (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;240,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,459,253)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,621,396&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution for the period&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effective rate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-89.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt; 13,169/15; and (iii) of 9% for the other companies (Note 2w);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n&lt;/font&gt;&lt;sup&gt;&lt;u&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;o&lt;/font&gt;&lt;/u&gt;&lt;/sup&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:106%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;13,169/15; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;(3)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:106%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;&quot;&gt;Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.&lt;/font&gt;&lt;/p&gt;</bbd:CalculationOfIncomeTaxAndSocialContributionChargesTextBlock>
  <bbd:CompositionOfIncomeTaxAndSocialContributionInTheConsolidatedStatementOfIncomeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition of income tax and social contribution in the consolidated statement of income&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Comp_Result_Contrib_Social&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Comp_Result_Contrib_Social&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current taxes:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution payable&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,788,060)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,852,947)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,075,948)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred taxes:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net Addition/(realization) of temporary differences&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,950,961&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,106,008)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,424,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Use of opening balances of:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(430,584)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(647,282)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(127,214)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(331,512)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(879,276)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(65,224)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Addition on:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;234,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;272,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;338,053&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;731,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Activation of the tax credit - Law No. 13,169/15:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution loss&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;422,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Temporary additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,051,048&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax expense&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,359,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,059,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,710,270&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,428,956)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,912,730)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,634,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionOfIncomeTaxAndSocialContributionInTheConsolidatedStatementOfIncomeTextBlock>
  <bbd:DeferredIncomeTaxAndSocialContributionPresentedInTheConsolidatedStatementOfFinancialPositionTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred income tax and social contribution presented in the consolidated statement of financial position&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td nowrap=&quot;nowrap&quot; width=&quot;36%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;a name=&quot;_Toc474923337&quot; /&gt;&lt;a name=&quot;_Toc474919388&quot; /&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;15%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEA2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:23.25pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount recorded&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Realized / Decrease (4)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions of impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,011,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,264,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,771,818&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,503,863&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for contingencies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,351,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,782,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,907,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,226,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,488,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,724,016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,268,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,943,875&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,681,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,773,082&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,644,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,809,566&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total tax assets on temporary differences (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,532,826&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,543,626&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,592,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,483,787&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses in Brazil and abroad (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,595,729&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;762,096&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of available for sale (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;576,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,069,900&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax assets (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,621,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,290,597&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,424,661&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,487,659&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred tax liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,557,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;817,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,007,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net deferred taxes (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,353,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,732,979&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,606,830&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,480,064&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td nowrap=&quot;nowrap&quot; width=&quot;36%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;15%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td nowrap=&quot;nowrap&quot; valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;RANGEA15&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:34.5pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount recorded&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Realized / Decrease&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provisions of impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,617,097&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,938,976&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,948,736&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,493,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,011,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for contingencies&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,720,598&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,209,685&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,498,218&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,077,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,351,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,090,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,501&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;282,741&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,994,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,488,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,511,581&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;440,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,135,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,406,216&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,681,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total tax assets on temporary differences (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,940,215&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,698,619&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,865,330&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,971,338&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,532,826&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses in Brazil and abroad (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,761,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;787,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;572,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,526,558&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,595,729&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of available for sale (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,704,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,120&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;393,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,636,805&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution - MP 2,158-35 (change in tax law)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,783&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total deferred tax assets (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,520,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,518,617&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,831,482&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,248,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,621,723&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred tax liabilities (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,894,367&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,920,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,550,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:15.95pt;&quot;&gt; &lt;td width=&quot;36%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net deferred taxes (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,625,741&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,515,025&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,911,003&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,697,854&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,353,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;HSBC Brasil (Note 2a);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.&lt;/font&gt;&lt;/p&gt;</bbd:DeferredIncomeTaxAndSocialContributionPresentedInTheConsolidatedStatementOfFinancialPositionTextBlock>
<!-- ELement Id bbd_ExpectedRealizationOfDeferredTaxAssetsOnTemporaryDifferencesTaxLossAndNegativeBasisOfSocialContributionTextBlock -->
  <bbd:ExpectedRealizationOfDeferredTaxAssetsOnTemporaryDifferencesTaxLossAndNegativeBasisOfSocialContributionTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;d)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Prov_Reali_Cred_Trib&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Prov_Reali_Cred_Trib&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Temporary differences&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax and social contribution losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;3&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social contribution&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,189,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,778,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;157,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,794&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,429,576&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,106,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,500,573&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;143,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,058&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,830,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,444,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,163,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,825&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,826,514&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,408,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,609,808&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;620,279&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,005,268&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,470,379&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;732,490&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;478,318&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,215,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;After 2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,100,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,176,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;824,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,078,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,179,930&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,784,302&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,699,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,385,863&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,487,659&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ExpectedRealizationOfDeferredTaxAssetsOnTemporaryDifferencesTaxLossAndNegativeBasisOfSocialContributionTextBlock>
  <bbd:DeferredTaxLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;e)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Deferred tax liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_Deferidos_Passivos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_Deferidos_Passivos&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Timing differences of depreciation - finance leasing&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;381,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment to market value of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,215,588&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,404&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Judicial deposit and others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,508,775&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,673,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,007,595&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,267,808&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:DeferredTaxLiabilitiesTextBlock>
  <bbd:IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;f)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Income tax and social contribution on adjustments recognized directly in equity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_IR_CS_Ajuste_Patrim_Liquido&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_IR_CS_Ajuste_Patrim_Liquido&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;9&quot; width=&quot;85%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;28%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Before tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax (expense)/ benefit&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net of tax&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets recorded as available for sale&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,418,567&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,231,202)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,187,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,298,103&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,587,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,711,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,677,902)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,273,982&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,403,920)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Exchange differences on translations of foreign operations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,992&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,002&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(194,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(107,011)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,485&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(57,788)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,441,577&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,225,210)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,216,367&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,103,537&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,499,521)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,604,016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,559,417)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,216,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,343,223)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityTextBlock>
  <bbd:TheCalculationOfBasicEarningsPerShareTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The calculation of basic earnings per share was calculated based on the weighted average number of common and preferred shares outstanding, as shown in the calculations below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net earnings attributable to the Organization&amp;#39;s common shareholders (R$ thousand)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,157,920&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,542,147&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,652,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net earnings attributable to the Organization&amp;#39;s&amp;#160; preferred shareholders (R$ thousand)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,931,444&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,352,102&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,480,001&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted average number of common shares outstanding (thousands)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,991&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,991&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,050,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Weighted average number of preferred shares outstanding (thousands)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,037,917&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basic earnings per share attributable to common shareholders of the Organization (in Reais)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.67&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.80&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.84&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Basic earnings per share attributable to preferred shareholders of the Organization (in Reais)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.94&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.08&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.12&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&amp;#39; Meeting&amp;#160; of March 10, 2017, in the proportion of one new share for every 10 shares held.&lt;/font&gt;&lt;/p&gt;</bbd:TheCalculationOfBasicEarningsPerShareTextBlock>
  <bbd:CashAndBalancesWithBanksTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a) Cash and balances with banks&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Caixa_Disp_em_Bancos&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Caixa_Disp_em_Bancos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in domestic currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,939,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,432,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,088,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,085,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Compulsory deposits with the Central Bank (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,714,226&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,036,531&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,742,951&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,554,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.&lt;/font&gt;&lt;/p&gt;</bbd:CashAndBalancesWithBanksTextBlock>
  <bbd:CashAndCashEquivalentsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;a name=&quot;_Toc176337481&quot; /&gt;&lt;a name=&quot;_Toc474923348&quot; /&gt;&lt;a name=&quot;_Toc474919399&quot; /&gt;&lt;a name=&quot;_Toc415565916&quot; /&gt;&lt;a name=&quot;_Toc415499895&quot; /&gt;&lt;a name=&quot;_Toc415498730&quot; /&gt;&lt;a name=&quot;_Toc415498606&quot; /&gt;&lt;a name=&quot;_Toc415498377&quot; /&gt;&lt;a name=&quot;_Toc413337905&quot; /&gt;&lt;a name=&quot;_Toc412626237&quot; /&gt;&lt;a name=&quot;_Toc381783418&quot; /&gt;&lt;a name=&quot;_Toc379874138&quot; /&gt;&lt;a name=&quot;_Toc355707668&quot; /&gt;&lt;a name=&quot;_Toc351014053&quot; /&gt;&lt;a name=&quot;_Toc320264389&quot; /&gt;&lt;a name=&quot;_Toc318995744&quot; /&gt;&lt;a name=&quot;_Toc316896329&quot; /&gt;&lt;a name=&quot;_Toc312767295&quot; /&gt;&lt;a name=&quot;_Toc289782478&quot; /&gt;&lt;a name=&quot;_Toc285698393&quot; /&gt;&lt;a name=&quot;_Toc285642874&quot; /&gt;&lt;a name=&quot;_Toc285538740&quot; /&gt;&lt;a name=&quot;_Toc284885105&quot; /&gt;&lt;a name=&quot;_Toc284697611&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Cash and cash equivalents&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Caixa_Equivalente_de_Caixa&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Caixa_Equivalente_de_Caixa&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in domestic currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,939,852&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,432,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cash and due from banks in foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,088,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,085,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,025,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;166,712,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;156,054,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,230,427&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:.3pt;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 - R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 - R$ 81,983,717 thousand) as Loans and advances to banks.&lt;/font&gt;&lt;/p&gt;</bbd:CashAndCashEquivalentsTextBlock>
  <bbd:FinancialAssetsHeldForTradingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a) Financial assets held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;202,249,272&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,103,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,348,269&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,600,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt and marketable equity securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,339,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,383,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mutual funds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,377,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,303,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,358,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;528,010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,866,885&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,755,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:FinancialAssetsHeldForTradingTextBlock>
  <bbd:MaturityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,617,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,002,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;146,527,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,589,655&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of five to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,763,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,299,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity of over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,409,723&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,537,358&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity not stated&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,391,854&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,710,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,710,041&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;213,139,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:MaturityTextBlock>
  <bbd:FinancialLiabilitiesHeldForTradingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Financial liabilities held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc176337480&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Derivative financial instruments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,274,999&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,435,678&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:FinancialLiabilitiesHeldForTradingTextBlock>
  <bbd:TheBreakdownOfTheNotionalAndorContractualValuesAndTheFairValueOfDerivativesHeldForTradingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading by the Organization is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc474923350&quot; /&gt;&lt;a name=&quot;_Toc474919401&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Notional amounts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset/(liability)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Futures contracts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Interest rate futures&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,081,180&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,026,397&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,586&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,837,699&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,677,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(154,188)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(19,163)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,376,597&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,399,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,238,635&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,690,018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;163,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(114)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Options&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Interest rates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,663,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,467,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;260,565&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,616,129&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,755,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(535,748)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(193,768)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,335,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,567,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;605,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;57,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,274,094&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,836,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(409,587)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(62,356)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;443,443&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,013&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;228,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,188)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,533)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Forward operations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; In foreign currency&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,372,477&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,633,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;218,019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,599,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,947,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,036,706&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(358,995)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,088,041)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Purchases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;497,987&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,586,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sales&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;635,522&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,588,245&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,138)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,581,169)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Swap contracts&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Asset position&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,636,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;72,297,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,065,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,799,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Currency swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,161,641&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,276,143&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,340,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,645,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#8226;&amp;#160;&amp;#160;&amp;#160;&amp;#160; Liability position&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest rate swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,454,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,746,464&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,030,003)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,718,282)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Currency swaps&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,288,568&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,201,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,618,035)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,766,366)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheBreakdownOfTheNotionalAndorContractualValuesAndTheFairValueOfDerivativesHeldForTradingTextBlock>
<!-- ELement Id bbd_FinancialAssetsAvailableForSaleTextBlock -->
  <bbd:FinancialAssetsAvailableForSaleTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923351&quot; /&gt;&lt;a name=&quot;_Toc284885109&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;21.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets available for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Financ_Disp_Venda&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Financ_Disp_Venda&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized gains&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,822,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,881,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(422,079)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,281,758&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,875,928&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;836,715&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,734,013)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,978,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,251,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,142&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(236,355)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,853&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;719,494&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,693)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;728,127&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign governments securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,210,554&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;175&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,182)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,202,547&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,302,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;620,896&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(885,923)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,182,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,535,331&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,305,245)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;58,484,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,323,156&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(609,193)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,198,028&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,821,686&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,011,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,690,253)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,142,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,626,211&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;121,745&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(188,913)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,559,043&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;395,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,319&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,731)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;401,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Marketable equity securities and other stocks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,966,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;389,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(538,602)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,294,460&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,852,786&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,028,692)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:FinancialAssetsAvailableForSaleTextBlock>
  <ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Venda_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Venda_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,635,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,167,067&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,690,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,905,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,579,399&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,816,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,071,806&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,251,675&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 5 to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,004,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,363,350&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,677,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,994,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,660,955&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,028,413&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,888,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,148,476&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;No stated maturity&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,302,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,037,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,966,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,817,561&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,182,636&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,412,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;114,294,460&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;113,118,554&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</ifrs-full:MaturityAnalysisForNonderivativeFinancialLiabilities>
  <bbd:InvestmentsHeldMaturityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923352&quot; /&gt;&lt;a name=&quot;_Toc284885110&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;22.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Investments held to maturity&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Invest_Mantidos_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Invest_Mantidos_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized gains&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross unrealized losses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,738,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,442,844&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(6,489)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,175,295&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,259,564&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(421,874)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,963,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(420)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,568,936&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(428,783)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,241,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,918,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(306,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,853,654&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,739,187&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,388,614)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,379,323&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,894&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,947,901&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,695,180)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InvestmentsHeldMaturityTextBlock>
  <bbd:MaturityInvestmentsHeldToMaturityTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Invest_Vencimento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Invest_Vencimento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;27%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;26%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortized cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fair value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,998&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 5 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,284,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,070,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,932,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,133,746&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 5 to 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,933,866&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,840,428&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,068,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,905,497&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over 10 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,757,900&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,206,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,000,608&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,215,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,006,118&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,146,271&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,002,028&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,254,749&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:MaturityInvestmentsHeldToMaturityTextBlock>
  <bbd:FinancialAssetPledgedAsCollateralTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923353&quot; /&gt;&lt;a name=&quot;_Toc284885111&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;23.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Financial assets pledged as collateral&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Cedidos_Garantia&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Ativos_Cedidos_Garantia&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held for trading&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,182&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,282,141&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;801,182&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,282,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Available for sale (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,482,796&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,275,415&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,039,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;55,530,423&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Corporate debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;825,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,899,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Bank debt securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,904,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,742,273&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian sovereign bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;713,555&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,841&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Held to maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;431&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Brazilian government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;431&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank investments (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;123,691,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;84,728,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,975,173&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;155,286,577&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$&amp;#160;557,974 &amp;#160;thousand (2016 - R$ 1,443,642 thousand); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Refers to reverse repurchase agreements in which the underlying security has subsequently been sold &amp;#160;in a separate repurchase agreement.&lt;/font&gt;&lt;/p&gt;</bbd:FinancialAssetPledgedAsCollateralTextBlock>
  <bbd:LoansAndAdvancesToBanksTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923354&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;24.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emprest_Adiant_inst_Financeiras&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emprest_Adiant_inst_Financeiras&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Repurchase agreements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,045,591&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;85,178,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans to financial institutions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,207,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,667,388&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,481)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,398)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,247,724&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;94,838,136&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:LoansAndAdvancesToBanksTextBlock>
  <bbd:LoansAndAdvancesToCustomerTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923355&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;25.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Emprest_Adiant_Cliente&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Emprest_Adiant_Cliente&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Working capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,700,584&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,390,890&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Personal credit (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,570,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,255,740&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Housing loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,963,375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,458,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financing and export&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,272,982&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,983,307&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending BNDES/Finame&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,655,666&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,816,560&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,568,984&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,407,733&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicle loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,741,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,699,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Rural loans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,642,478&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,422,799&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Import&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,318,042&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,140,346&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for corporates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,587,239&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,583,285&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receivable insurance premiums&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,301,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,517,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overdraft for individuals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,582,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,209,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leasing&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,249,859&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,738,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,659,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,459,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total portfolio&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;373,813,665&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,083,873&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,055,566)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,780,839)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total of net loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;346,758,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;367,303,034&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).&lt;/font&gt;&lt;/p&gt;</bbd:LoansAndAdvancesToCustomerTextBlock>
  <bbd:AllowanceForLoansAndAdvancesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Allowance for loans and advances to customers&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Perdas_Emp_Adiant_Clientes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Perdas_Emp_Adiant_Clientes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,780,839&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,455,204&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment of loans and advances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,860,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,350,278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovery of credits charged-off as losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,034,857&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,507,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,620,965)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,532,150)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,055,566&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,780,839&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:AllowanceForLoansAndAdvancesTextBlock>
  <bbd:LoansAndAdvanceToCustomersTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-7.05pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Loans and advances to customers include the following finance lease receivables.&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Arrend_Financeiros_Receber&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Arrend_Financeiros_Receber&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gross investments in financial leases receivable:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,118,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,418,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,082,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,279,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,718&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment loss on finance leases&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(146,812)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(186,594)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net investment&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,552,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net investments in finance leases:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,034,188&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,300,659&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From one to five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,021,089&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,212,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Over five years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,103,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,552,017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:LoansAndAdvanceToCustomersTextBlock>
  <bbd:NoncurrentAssetsHeldForSaleTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923356&quot; /&gt;&lt;a name=&quot;_Toc284885112&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;26.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Non-current assets held for sale&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Ativos_Nao_Correntes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc176337484&quot; /&gt;&lt;a name=&quot;IFRS_Ativos_Nao_Correntes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets not for own use&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,250,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,262,126&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Vehicles and similar&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,774&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;308,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Machinery and equipment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,037&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,529&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,782&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,954&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,520,973&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,578,966&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NoncurrentAssetsHeldForSaleTextBlock>
<!-- ELement Id bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesTextBlock -->
  <bbd:BreakdownOfInvestmentsInAssociatesAndJointVenturesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Breakdown of investments in associates and joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Invest_Coligadas_Atual&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:876.000000pt;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;3&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Atual&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;29&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A. (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,832,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,219,202&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;76,403,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,151,540&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,020,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,833,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,561,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,056,077&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.23%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15.23%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;543,025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,512,491&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,124,173&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,138,711&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;947,514&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,550,438&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (3) (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.28%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.28%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;692,380&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,791&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,389,026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,224,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;615,510&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,263,331&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,609,717&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;287,414&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Aquarius Participa&amp;#231;&amp;#245;es S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;263,630&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;242,617&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;532,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;237,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,878&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;105,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(22,637)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,588,848&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,283,453&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,565,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;726,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,432,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(113,185)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,871&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,320&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;61,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;39,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil Ind&amp;#250;stria de Equipamentos para Automa&amp;#231;&amp;#227;o S.A. (3) (9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,039&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;221,809&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,270&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,384&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tecnologia Banc&amp;#225;ria S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;108,752&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;242,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;75,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;590,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;496,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534,235&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Swiss Re Corporate Solutions Brasil (Nota 43-5) (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;463,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,437)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,178,209&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,511,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,411,600&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;437,278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;490,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(66,093)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Gestora de Intelig&amp;#234;ncia de Cr&amp;#233;dito S.A. (Nota 43-1) (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,642)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;118,961&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,253&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,210)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,129&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,210,958&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,543,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,183,908&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,094,434&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,773,103&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,712,492&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,241,126&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,665,582&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A. (10)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;978,195&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;162,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;420,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,776,837&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,763&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;324,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,231&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,393&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;339,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;119,406&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;324,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;161,107&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,786&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(39)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,198&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(78)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,046,426&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;174,424&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;762,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,855&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;421,529&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,848&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;180,042&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,783&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,946,146&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,992,289&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;89,194,631&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,720,340&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,421,168&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,014,365&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;a name=&quot;_Toc176337485&quot; /&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Anterior&quot; /&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;28&quot; width=&quot;69%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;28&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,108,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,204,520&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,699,378&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,654,621&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,004,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,167&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,007,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;662,460&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,668&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,484,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,828,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,238,221&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;844,876&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,185&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;646,823&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (3) (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;651,906&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,343,162&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,021,981&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;429,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,166,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,045,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Aquarius Participa&amp;#231;&amp;#245;es S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;263,632&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,640&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,233&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;538,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,474&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;150,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;127,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,596&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;493,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,041,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,243,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;102,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,517&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;247,475&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,390&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,890&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,246&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tecnologia Banc&amp;#225;ria S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24.32%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;98,543&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;193,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,117,398&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;499,341&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;406,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;686,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;292,862&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil Ind&amp;#250;stria de Equipamentos para Automa&amp;#231;&amp;#227;o S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,789&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,024)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;171,823&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,780&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;111,755&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,985&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,335)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Empresa Brasileira de Solda El&amp;#233;trica S.A. (3) (9)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,089,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,515,823&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,478,006&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,790,895&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,520,113&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,725,119&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,241,924&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;849,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;198,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;352,179&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,596,527&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,627&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,879&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;396,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;64,174&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,721&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;443,978&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,883&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;317,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(49)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,538&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(98)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leader S.A. Adm. de Cart&amp;#245;es de Cr&amp;#233;dito (3) (8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(23,227)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;913,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,902&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;799,695&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,600,410&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;428,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;183,161&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;414,179&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;30%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,277,701&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,391,305&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,948,570&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,942&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,908,280&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,656,103&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;30&quot; width=&quot;70%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Invest_Coligadas_Anterior2&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Companies&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;30&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity interest&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shareholding interest with voting rights&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment book value&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income (loss)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures non - current liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenue (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; rowspan=&quot;2&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and joint ventures net income (loss) for the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.2pt;&quot;&gt; &lt;td height=&quot;16&quot; style=&quot;height:12.2pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cielo S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30.06%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,302,071&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,043,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,755,540&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,806,140&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,199,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,696,767&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,386&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,472,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;IRB - Brasil Resseguros S.A. (3) (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.51%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;658,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,165&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,922&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,768&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,144&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;673,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fleury S.A. (6)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16.39%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;512,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,262&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,124,788&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;268,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;299,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,408,157&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,845&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fidelity Processadora S.A. (7)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;254,785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;68,312&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;450,267&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;402,702&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;332,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,412&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Haitong Banco de Investimento do Brasil S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;130,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,377)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,227,947&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;563,950&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,140,656&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,834,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,886)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cia. Brasileira de Gest&amp;#227;o e Servi&amp;#231;os S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41.85%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;83,735&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,660&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;203,030&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,986&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,590&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,247&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;42,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;NCR Brasil S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,101&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;206,315&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,146&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;134,533&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;71,177&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,492&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Empresa Brasileira de Solda El&amp;#233;trica S.A. (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,954&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,769)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;101,151&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,519&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,499&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;115,874&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(11,774)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Integritas Participa&amp;#231;&amp;#245;es S.A. (3) (5)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,647&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;741,803&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,534&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;828&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,983&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,056,741&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,274,875&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,088,607&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,957,986&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,203,184&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,143,864&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,299,598&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,360,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Elo Participa&amp;#231;&amp;#245;es S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.01%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;686,951&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;243,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;223,332&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,438,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;486,049&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Crediare S.A. - Cr&amp;#233;dito, Financiamento e Investimento&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;65,030&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;439,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;312,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;MPO - Processadora de Pagamentos M&amp;#243;veis S.A.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;380,801&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;379,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;313,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Leader S.A. Adm. de Cart&amp;#245;es de Cr&amp;#233;dito (3) (8)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50.00%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,013)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,920&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;278&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,026)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total investments in joint ventures&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;758,584&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;253,176&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,046,647&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,454,929&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;838,361&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;487,648&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;506,255&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;29%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,135,254&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,412,915&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,041,545&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,143,879&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,787,246&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,866,890&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td height=&quot;15&quot; style=&quot;height:11.6pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;29%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;5%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;13%&quot;&gt;&lt;/td&gt; &lt;td&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Univers 45 Light;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:3.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:53.5pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Revenues from financial intermediation or services; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(5)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Partial spin-off in October, 2015;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(6)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&amp;#231;&amp;#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(7)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In January 2016, Aquarius Participa&amp;#231;&amp;#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&amp;#231;os S.A.;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(8)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In April 2016, it was consolidated after acquisition of 50% of the company;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(9)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE - Empresa Brasileira de Solda El&amp;#233;trica S.A.); and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(10)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participa&amp;#231;&amp;#245;es S.A. presented R$ 8,109 thousand of other comprehensive income.&lt;/font&gt;&lt;/p&gt;</bbd:BreakdownOfInvestmentsInAssociatesAndJointVenturesTextBlock>
  <bbd:ChangesInAssociatesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in associates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:3.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Moviment_Invest_Coligadas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc284885114&quot; /&gt;&lt;a name=&quot;IFRS_Moviment_Invest_Coligadas&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Initial balances&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,815,325&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisitions (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;524,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;376,434&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Spin-off of associates (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(170,006)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(166,294)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equity in net income of associates&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,718,411&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Dividends/Interest on capital&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(802,662)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(655,920)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (4)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(31,868)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(37,122)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(29,370)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,257,384&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,002,778&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Intelig&amp;#234;ncia de Cr&amp;#233;dito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cart&amp;#245;es de Cr&amp;#233;dito);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;Disposal partial sale of the IRB (Note 43-6);&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2016, the investment of Cia. Leader S.A. Administradora de Cart&amp;#245;es de Cr&amp;#233;dito began to be consolidated after acquisition of 50% of the company; and &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;&quot;&gt;In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).&lt;/font&gt;&lt;/p&gt;</bbd:ChangesInAssociatesTextBlock>
  <bbd:CompositionOfPropertyAndEquipmentByClassTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;Composition of &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Classe_Imobilizado_Uso&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Classe_Imobilizado_Uso&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; width=&quot;53%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Annual rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Accumulated depreciation&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,153,407&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(483,266)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,670,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,450,939&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,667,455)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,783,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communication systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;349,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(213,879)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,950,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,329,028)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,621,597&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,705&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(48,246)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial leasing of data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,431,868&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,231,143)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,200,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,405,492&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,973,017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,153,351&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(454,426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,187,160&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,314,715)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communication systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;325,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,974)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,504,229&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,067,981)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,436,248&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,639&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(40,034)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial leasing of data processing systems&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,229,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,047,016)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,182,497&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;47%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,514,262&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(7,117,146)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionOfPropertyAndEquipmentByClassTextBlock>
  <bbd:ChangeInPropertyAndEquipmentByClassTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Change in &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;property and equipment&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt; by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Liquida_Imob_Uso_Classe&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Liquida_Imob_Uso_Classe&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;7&quot; width=&quot;66%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Buildings&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Land&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Installations, properties and equipment for use&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Security and communications systems&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Data processing systems (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transportation systems&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,745&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;117,888&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;754,606&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,134&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;947,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,897,645&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(53,151)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(86,592)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(323,217)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,540)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(86,469)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(100)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(552,069)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(73,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,836)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,288)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(79,194)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,840)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(521,663)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(24,270)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(649,583)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,972)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,237,328)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,887&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,815&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,397)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,305&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,670,141&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;982,720&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,783,484&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,349&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,822,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,432,475&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;582,602&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;448,020&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,788,330&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,086&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,556,160&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;70,237&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,504,435&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;752,619&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;586,971&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;320,949&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,196&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,065&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81,809&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;974,089&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,721&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,696,318&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,779,321&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Write-offs&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,341)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,353)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(402,316)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,804)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(62,386)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,627)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(509,827)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(20,543)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(12,434)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,977)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Depreciation&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,179)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(466,192)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(21,338)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(610,869)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,058)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,141,636)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Transfer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(342,415)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;34%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,698,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,027,535&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,872,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;132,861&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,618,745&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;46,605&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,397,116&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;Includes financial lease of data processing systems; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;HSBC Brasil.&lt;/font&gt;&lt;/p&gt;</bbd:ChangeInPropertyAndEquipmentByClassTextBlock>
  <bbd:ChangeInIntangibleAssetsAndGoodwillByClassTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Change in intangible assets and goodwill by class&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Ativos_Intangiveis_Agio&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Ativos_Intangiveis_Agio&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Goodwill&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; width=&quot;52%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Intangible Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Acquisition of financial service rights (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Software (1)&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Customer portfolio (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,503,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,945,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,358,923&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,589&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions/(reductions)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,549,335&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,203,313&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(8,944)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,743,704&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,683)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,683)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,000,894)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,327,456)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,000,234)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,656)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,331,240)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,051,898&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,790,418&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,358,689&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,989&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,179,307&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;723,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,260,033&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,639,825&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;709,463&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;76,788&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,409,635&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,221,787&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;264,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;288,826&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,993,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,840&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,773,545&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions/(reductions)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;930,190&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,284,041&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;129,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,343,497&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Impairment (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,374)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(212,374)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amortization&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(951,115)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,055,074)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(344,283)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(166,305)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,516,777)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,503,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,945,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,358,923&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;44,589&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,797,526&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;HSBC Brasil; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Impairment losses were recognized in the consolidated statement of income, within &amp;#8220;Other operating income/(expenses)&amp;#8221;.&lt;/font&gt;&lt;/p&gt;</bbd:ChangeInIntangibleAssetsAndGoodwillByClassTextBlock>
  <bbd:CompositionOfGoodwillBySegmentTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;&quot;&gt;&lt;a name=&quot;_Toc284885117&quot; /&gt;&lt;a name=&quot;_Toc474923360&quot; /&gt;&lt;a name=&quot;_Toc474919411&quot; /&gt;&lt;a name=&quot;_Toc415565927&quot; /&gt;&lt;a name=&quot;_Toc415499906&quot; /&gt;&lt;a name=&quot;_Toc415498741&quot; /&gt;&lt;a name=&quot;_Toc415498617&quot; /&gt;&lt;a name=&quot;_Toc415498388&quot; /&gt;&lt;a name=&quot;_Toc413337916&quot; /&gt;&lt;a name=&quot;_Toc381783429&quot; /&gt;&lt;a name=&quot;_Toc379874149&quot; /&gt;&lt;a name=&quot;_Toc355707679&quot; /&gt;&lt;a name=&quot;_Toc351014067&quot; /&gt;&lt;a name=&quot;_Toc320264403&quot; /&gt;&lt;a name=&quot;_Toc318995758&quot; /&gt;&lt;a name=&quot;_Toc316896343&quot; /&gt;&lt;a name=&quot;_Toc312767310&quot; /&gt;&lt;a name=&quot;_Toc289782494&quot; /&gt;&lt;a name=&quot;_Toc285698406&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;b) Composition of goodwill by segment&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Agio_Por_Segmento&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Agio_Por_Segmento&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Banking&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,651,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,651,347&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance, pension and capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,966&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,945,313&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionOfGoodwillBySegmentTextBlock>
  <bbd:OtherAssetsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923361&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;30.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other assets&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outros_Ativos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outros_Ativos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign exchange transactions (1)(4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,279,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,455,821&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Debtors for guarantee deposits (2)(4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,840,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,372,044&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Negotiation and intermediation of securities (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,741,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,954,484&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Trade and credit receivables (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,016,225&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,813,144&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deferred acquisition cost (insurance) - Note 35f&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other debtors&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,736,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,781,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Prepaid expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,244,602&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,324,362&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Income receivable (4)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,841,709&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,575,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank and interdepartmental accounts&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,480,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;949,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,602,760&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,193,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,853,987&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,170,370&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution&amp;#39;s domestic currency, resulting from exchange sale operations; &lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;&quot;&gt;(4)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Financial assets are recorded at amortized cost.&lt;/font&gt;&lt;/p&gt;</bbd:OtherAssetsTextBlock>
  <bbd:CompositionByNatureTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by nature&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Demand deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,030,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;898,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interbank deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,168,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;588,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities sold under agreements to repurchase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;233,467,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;241,978,931&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Borrowings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,521,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,165,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Onlending&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,769,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,030,587&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;285,957,468&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;301,662,682&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionByNatureTextBlock>
  <bbd:CompositionByNatureDepositsFromCustomersTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by nature &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Recursos_de_Clientes&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Recursos_de_Clientes&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Demand deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,058,324&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,521,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Savings deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,332,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,088,828&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Time deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;125,617,424&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,137,867&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,008,445&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,747,929&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionByNatureDepositsFromCustomersTextBlock>
  <bbd:CompositionByTypeOfSecurityIssuedAndLocationTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Composition by type of security issued and location&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Comp_Tipo_Papel_Emitido&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Comp_Tipo_Papel_Emitido&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Instruments Issued - Brazil:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate credit notes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,020,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,955,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Agribusiness notes&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,973,682&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,116,292&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial bills&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,570,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;108,512,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;131,564,734&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,584,774&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities - Overseas:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Euronotes (1)&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;634,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,785,654&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities issued through securitization - (item (b))&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,606,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,286,342&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,240,871&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,071,996&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Structured Operations Certificates&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;368,485&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;445,168&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;135,174,090&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;151,101,938&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionByTypeOfSecurityIssuedAndLocationTextBlock>
<!-- ELement Id bbd_TheAmountsOfTheSecuritiesIssuedByTheSpeTextBlock -->
  <bbd:TheAmountsOfTheSecuritiesIssuedByTheSpeTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;We show below the amounts of the securities issued by the SPE, which appear in the &amp;#8220;Funding from issuance of securities&amp;#8221; line item:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;58%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Date of Issue&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Nominal amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td rowspan=&quot;2&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Maturity&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;11&quot; width=&quot;42%&quot; style=&quot;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securitization of the future flow of payment orders received from abroad&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;06,3,2008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;836,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,5,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,12,2008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,168,500&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,2,2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;698,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,12,2009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;89,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,2,2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,487&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,8,2010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307,948&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,8,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;29,9,2010&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;170,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,8,2017&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,810&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,11,2011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,860&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,11,2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,068&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,989&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,11,2011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;133,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,11,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;139,678&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;177,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,12,2015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,11,2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;330,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,110&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,12,2015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;390,480&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,11,2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;318,934&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;348,662&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;02,2,2016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;889,725&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,2,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;871,260&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;872,710&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;12%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,3,2016&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;533,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,2,2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;521,953&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;522,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;42%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,998,763&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,606,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,286,342&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:382.7pt;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Prepaid.&lt;/font&gt;&lt;/p&gt;</bbd:TheAmountsOfTheSecuritiesIssuedByTheSpeTextBlock>
  <bbd:CompositionOfSubordinatedDebtTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:39.1pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Composition of subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Dividas_Subordinadas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc289782503&quot; /&gt;&lt;a name=&quot;_Toc285698414&quot; /&gt;&lt;a name=&quot;_Toc285642893&quot; /&gt;&lt;a name=&quot;_Toc285538759&quot; /&gt;&lt;a name=&quot;_Toc284885124&quot; /&gt;&lt;a name=&quot;_Toc284697630&quot; /&gt;&lt;a name=&quot;_Toc311210604&quot; /&gt;&lt;a name=&quot;_Toc311128505&quot; /&gt;&lt;a name=&quot;_Toc312767387&quot; /&gt;&lt;a name=&quot;_Toc311210603&quot; /&gt;&lt;a name=&quot;_Toc311128504&quot; /&gt;&lt;a name=&quot;_Toc320264480&quot; /&gt;&lt;a name=&quot;_Toc318995835&quot; /&gt;&lt;a name=&quot;_Toc316896420&quot; /&gt;&lt;a name=&quot;_Toc351014073&quot; /&gt;&lt;a name=&quot;_Toc474923366&quot; /&gt;&lt;a name=&quot;_Toc474919417&quot; /&gt;&lt;a name=&quot;IFRS_Dividas_Subordinadas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31 - R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Original term in years&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Nominal amount&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;In Brazil:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated CDB:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,303&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial bills:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017 (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,630,999&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,075,463&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,262,799&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,130,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,875,551&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,858&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,139&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,402&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017 (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,100&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;95,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;141,050&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,757&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;293,357&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,172,835&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,734&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,423,463&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,700&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,801&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,305,011&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,597,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,050,633&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,359,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,699,872&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,522,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;67,450&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;73,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2018&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;119,417&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;112,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;12,735&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,184&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;25,212&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,556&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,383&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;49,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,896&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,706,846&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,265,488&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,015,625&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;136,695&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;159,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;143,415&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,193,653&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,624,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,125&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,813&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,924&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,806&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;400,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;457,679&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;417,641&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;19,200&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,429&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;37,191&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;54,143&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;99,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91,314&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2023&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;688,064&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,011,423&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2025&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;284,137&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,376&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;342,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;361,196&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;438,776&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;392,886&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2027 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;258,743&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;273,498&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2026&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,400&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,271&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,001&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,046&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;53,996&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;48,566&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2028 (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;74,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;77,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Perpetual&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,000,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,004,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,015,870&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal in Brazil&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,541,679&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;41,155,877&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Overseas:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2019&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,333,575&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,520,963&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,482,631&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2022&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,886,720&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,697,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,333,373&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2021&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,766,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,419,644&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,639,183&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal overseas&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,637,722&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,455,187&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:9.05pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;8%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;14%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;13%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;&quot;&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subordinated debt transactions that matured in 2017; and &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;&quot;&gt;&lt;a name=&quot;_Toc474923367&quot; /&gt;&lt;a name=&quot;_Toc474919418&quot; /&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;New issuances of financial bills in 2017, referring to subordinated debt.&lt;/font&gt;&lt;/p&gt;</bbd:CompositionOfSubordinatedDebtTextBlock>
  <bbd:NetMovementOfSubordinatedDebtTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:25.1pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Net movement of subordinated debt&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-indent:0in;&quot;&gt;&lt;font lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;font-weight:normal;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;662&quot; style=&quot;border-collapse:collapse;width:517.099976pt;&quot;&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Initial balances&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,282,936 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,401,348 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Issuances&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,594,610 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,787,207 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,100,017 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,298,555 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments and other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,126,290)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(9,158,982)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.95pt;&quot;&gt; &lt;td width=&quot;70%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;50,179,401 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;14%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,611,064 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:NetMovementOfSubordinatedDebtTextBlock>
  <bbd:TechnicalProvisionsByAccountTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:7.05pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Technical provisions by account&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnicas_por_Conta&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc320264487&quot; /&gt;&lt;a name=&quot;_Toc318995842&quot; /&gt;&lt;a name=&quot;_Toc316896428&quot; /&gt;&lt;a name=&quot;_Toc312767392&quot; /&gt;&lt;a name=&quot;_Toc289782508&quot; /&gt;&lt;a name=&quot;_Toc285698418&quot; /&gt;&lt;a name=&quot;_Toc285642897&quot; /&gt;&lt;a name=&quot;_Toc285538763&quot; /&gt;&lt;a name=&quot;_Toc284885128&quot; /&gt;&lt;a name=&quot;_Toc284697634&quot; /&gt;&lt;a name=&quot;IFRS_Prov_Tecnicas_por_Conta&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; valign=&quot;bottom&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and Pension (2)(3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Current and long-term liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mathematical reserve for unvested benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,051,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;912,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,818,859&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;184,594,055&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;208,870,366&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;185,506,819&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mathematical reserve for vested benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;265,727&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;210,855&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,367,712&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,989,482&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,633,439&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,200,337&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for claims incurred but not reported (IBNR)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,159,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,770,507&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,030,107&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,264,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,190,074&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,034,622&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Unearned premium reserve&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,068,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,265,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;567,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;574,544&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,636,085&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,839,699&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for unsettled claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,291,432&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,645,468&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,588,489&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,682,147&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,879,921&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,327,615&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reserve for financial surplus&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;514,199&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,505&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;514,199&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;554,505&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other technical provisions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,996,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,048,355&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,369,300&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,328,048&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,365,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,376,403&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total reserves&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) &amp;#160;&amp;#8220;Other technical provisions&amp;#8221; - Insurance basically refers to the technical provisions of the &amp;#8220;personal health&amp;#8221; portfolio; &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&amp;#160; Includes personal insurance and pension plans; and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3) &amp;#8220;Other technical provisions&amp;#8221; - Life and Pension Plan mainly includes the &amp;#8220;Reserve for redemption and other amounts to be settled&amp;#8221;, &amp;#8220;Reserve for related expenses&amp;#8221;. &lt;/font&gt;&lt;/p&gt;</bbd:TechnicalProvisionsByAccountTextBlock>
  <bbd:TechnicalProvisionsByProductTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;b)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Technical provisions by product&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnica_por_Produto&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Tecnica_por_Produto&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and Pension (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,754,024&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,559,137&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,754,024&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,559,137&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Auto / Liability Insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,156,847&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,126,232&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,156,847&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,126,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;DPVAT (Personal Injury Caused by Automotive Vehicles)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;506,161&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;471,288&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,100&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,944&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;509,261&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;474,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,018,884&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,336,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,018,884&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,336,759&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;RE (Elementary branch)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,523&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,447&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,523&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,447&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Free Benefits Generating Plan - PGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,087,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,605,459&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,087,618&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,605,459&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Free Benefits Generating Life - VGBL&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tradicional plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,400,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,370,995&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,400,228&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,370,995&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;#222222&quot; lang=&quot;EN&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;(1) Includes personal and pension insurance operations.&lt;/font&gt;&lt;/p&gt;</bbd:TechnicalProvisionsByProductTextBlock>
  <bbd:TechnicalProvisionsByAggregatedProductsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;c)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Technical provisions by aggregated products&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prov_Tecnicas_Agregadas_Produto&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prov_Tecnicas_Agregadas_Produto&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance - Vehicle, Elementary Lines, Life and Health&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,855,539&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;24,192,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance - Life with Survival Coverage (VGBL)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pensions - PGBL and Traditional Plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,623,322&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Pensions - Risk Traditional Plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,864,524&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,418,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TechnicalProvisionsByAggregatedProductsTextBlock>
  <bbd:InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(i)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Segs_Planos_Trad_Riscos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Segs_Planos_Trad_Riscos&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,611,733&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,844,231&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) DPVAT insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(473,579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(333,699)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal at beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,138,154&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,510,532&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,542,623&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,700,765&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of claims, benefits and redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(27,156,197)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(26,449,844)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;648,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,376,701&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Partial spin-off of large risk portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(961,513)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal at end of the period&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,211,965&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,138,154&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(+) DPVAT insurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;508,098&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,579&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;32,720,063&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,611,733&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansTextBlock>
  <bbd:InsuranceLifeWithSurvivalCoverageVgblTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(ii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Insurance - Life with Survival Coverage (VGBL)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Segs_Vida_Cobertura_Sobrev&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Segs_Vida_Cobertura_Sobrev&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;106,248,597&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receipt of premiums net of fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,577,437&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;35,824,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(28,758)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(47,379)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,985,242)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,674,828)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,468,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,660,738&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,956,372)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,341,040)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;158,746,205&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;138,670,739&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InsuranceLifeWithSurvivalCoverageVgblTextBlock>
  <bbd:PensionsPgblAndTraditionalPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(iii)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Pensions - PGBL and Traditional Plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Prev_PGBL_Planos_Trad_Renda&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Prev_PGBL_Planos_Trad_Renda&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,848,112&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Receipt of premiums net of fees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,446,148&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,412,759&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of benefits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(759,949)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(696,056)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payment of redemptions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,962,505)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,438,351)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,656,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,808,394&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Others&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,314,352)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(377,330)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;47,623,322&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;45,557,528&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:PensionsPgblAndTraditionalPlansTextBlock>
  <bbd:GuaranteesForTheTechnicalProvisionsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;e)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Guarantees for the technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Garantias_Provisoes_Tecnicas&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc474923373&quot; /&gt;&lt;a name=&quot;_Toc474919424&quot; /&gt;&lt;a name=&quot;_Toc415565940&quot; /&gt;&lt;a name=&quot;_Toc415499919&quot; /&gt;&lt;a name=&quot;_Toc415498754&quot; /&gt;&lt;a name=&quot;_Toc415498630&quot; /&gt;&lt;a name=&quot;_Toc415498401&quot; /&gt;&lt;a name=&quot;_Toc413337930&quot; /&gt;&lt;a name=&quot;_Toc412626262&quot; /&gt;&lt;a name=&quot;_Toc381783444&quot; /&gt;&lt;a name=&quot;_Toc379874164&quot; /&gt;&lt;a name=&quot;_Toc355707699&quot; /&gt;&lt;a name=&quot;_Toc351014082&quot; /&gt;&lt;a name=&quot;_Toc320264490&quot; /&gt;&lt;a name=&quot;_Toc318995845&quot; /&gt;&lt;a name=&quot;_Toc316896431&quot; /&gt;&lt;a name=&quot;_Toc312767395&quot; /&gt;&lt;a name=&quot;_Toc289782512&quot; /&gt;&lt;a name=&quot;_Toc285698421&quot; /&gt;&lt;a name=&quot;_Toc285642900&quot; /&gt;&lt;a name=&quot;_Toc285538766&quot; /&gt;&lt;a name=&quot;_Toc284885131&quot; /&gt;&lt;a name=&quot;_Toc284697637&quot; /&gt;&lt;a name=&quot;_Toc289782511&quot; /&gt;&lt;a name=&quot;IFRS_Garantias_Provisoes_Tecnicas&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;6&quot; valign=&quot;bottom&quot; width=&quot;63%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Insurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Life and pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,833,555&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,853,104&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,256,035&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,986,896&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;239,089,590&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;215,840,000&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Deferred acquisition cost PPNG reducers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(138,780)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(237,104)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(138,780)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(237,104)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Portion corresponding to contracted reinsurance&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(153,137)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(947,159)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,123)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,191)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,260)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(988,350)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Deposits retained at IRB and court deposits&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Receivables&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(925,999)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,068,329)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(925,999)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,068,329)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Unearned premium reserve - Health and dental insurance (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,268,243)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,182,152)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,268,243)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,182,152)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(-) Reserves from DPVAT agreements&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502,491)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(465,568)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(502,491)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(465,568)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;To be insured&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,844,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;10,952,776&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;224,241,912&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;200,945,705&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;236,086,817&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;211,898,481&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment fund quotas (VGBL and PGBL) (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,639,798&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,337,785&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;190,639,798&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;168,337,785&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Investment fund quotas (excluding VGBL and PGBL)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,076,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,164,637&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,639,087&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,273,027&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,715,093&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;30,437,664&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Government securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,011,657&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,882,012&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,608,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,187,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;27,619,851&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;20,069,021&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Private securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18,203&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93,287&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;164,338&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;169,440&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,541&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;262,727&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,325&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,716,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,728,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,719,628&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,731,181&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;37%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total technical provision guarantees&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,109,093&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,142,261&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;232,767,818&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;207,696,117&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;246,876,911&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;12%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;220,838,378&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;The investment funds &quot;VGBL&quot; and &quot;PGBL&quot; were consolidated in the financial statements.&lt;/font&gt;&lt;/p&gt;</bbd:GuaranteesForTheTechnicalProvisionsTextBlock>
<!-- ELement Id bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock -->
  <bbd:ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;f)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Changes in deferred acquisition cost (insurance assets)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,945,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,586,888&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,940,226&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,250,844)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,135,220)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Partial spin-off of large risk portfolio&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(16,180)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,070,108&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,750,244&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock>
  <bbd:ChangesInReinsuranceAssetsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;g)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;&quot;&gt;Changes in reinsurance assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Ativos_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Ativos_Resseguro&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,144,506&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186,867&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;667,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(139,641)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(485,724)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Recovered insurance losses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(259,433)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(173,908)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Adjustment for inflation and interest&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(411)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;43,790&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(754,362)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(10,378)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;219,214&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,186,194&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style=&quot;margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;Includes the transfer of part of the operation of the large risk portfolio (Note 43).&lt;/font&gt;&lt;/p&gt;</bbd:ChangesInReinsuranceAssetsTextBlock>
  <bbd:InsuranceVehicleRCFAndElementaryLinesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance, Vehicle/RCF and Elementary Lines - Claims, gross reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;sup&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/sup&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sinistros_Brutos_de_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sinistros_Brutos_de_Resseguro&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for the claims:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,482,979&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,152,371&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,058,559&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,414,674&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,647,298&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,134,409&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,020,829&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,708,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,160,984&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,821,255&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,481,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,679,108&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,108,270&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,037,365&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,394,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,626,356&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,716&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,848,361&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,456,642&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,028,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,640,897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,711,861&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,088,069&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,018,329&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,387,075&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,604,738&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,021,698&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,809,942&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,464,389&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,989,904&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,783,290&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,094,795&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,015,921&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,403,020&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,604,061&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,041,626&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,839,210&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,234&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,845,834&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,102,364&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,046,000&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,418,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,600,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,071,989&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,813,496&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,902,275&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,102,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,044,644&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,428,252&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,625,442&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,888,296&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,956,618&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,127,609&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,056,612&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,431,363&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,621,044&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,982,993&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,140,708&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,072,169&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,419,614&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,028,742&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,158,436&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,057,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,074,360&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,149,106&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,086,824&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,086,824&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,149,106&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,057,911&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,419,614&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,621,044&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,888,296&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,813,496&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,436,234&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,989,904&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,640,897&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,481,275&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,584,601&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,064,293)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,022,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,042,673)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,390,739)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,586,371)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,835,738)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,753,035)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,355,681)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,879,707)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,491,476)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,766,457)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(32,188,369)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Outstanding Claims&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,531&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;126,907&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;15,238&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;28,875&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,673&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,558&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,461&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;80,553&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;110,197&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;149,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;714,818&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,396,232&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InsuranceVehicleRCFAndElementaryLinesTextBlock>
  <bbd:InsuranceVehiclercfAndElementaryLinesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Insurance, Vehicle/RCF and Elementary Lines - Claims, net reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;a name=&quot;IFRS_Sinistros_Liquidos_de_Resseguro&quot; /&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sinistros_Liquidos_de_Resseguro&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up to 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for net claims for reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,049,408&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;859,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,791,249&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,260,194&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,440,426&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,804,706&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,815,311&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,523,133&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,805,260&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,661,006&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,443,486&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,107,420&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;846,124&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,773,092&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,235,404&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,417,095&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,695,513&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,648,135&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,306,665&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,695,713&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,541,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,157,532&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;835,214&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,766,152&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,232,926&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,401,407&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,696,091&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,622,005&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,317,745&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,671,224&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,225,589&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;844,636&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,769,942&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,251,003&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,418,057&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,705,326&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,658,925&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,323,339&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,285,309&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;850,115&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,791,739&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,268,293&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,425,973&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,729,230&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,659,375&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,338,449&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,121&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,797,090&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,281,206&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,452,938&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,746,804&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,390,840&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;868,958&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,810,770&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,291,650&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,459,251&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,426,256&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;873,978&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,822,466&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,292,651&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,466,917&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;884,796&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,824,085&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,510,383&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;890,132&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,527,764&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,527,764&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;890,132&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,824,085&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,292,651&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,459,251&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,746,804&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,659,375&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,323,339&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,671,224&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,541,988&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,443,486&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;31,380,099&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(4,505,614)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(880,207)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,809,102)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,265,943)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,424,679)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,694,553)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,599,885)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,243,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,563,269)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(3,393,389)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,736,036)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(30,116,019)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liquid outstanding claims for reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;22,150&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,983&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,708&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;34,572&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,251&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;59,490&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;79,997&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;107,955&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;148,599&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;707,450&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,264,080&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InsuranceVehiclercfAndElementaryLinesTextBlock>
  <bbd:LifeInsuranceClaimsGrossReinsuranceTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Life - Insurance claims, gross reinsurance&lt;sup&gt;(1) &lt;/sup&gt;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Vida_Sinistros_Liquidos_Resseguro&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.96%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; width=&quot;80%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;80%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Year claims were notified&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Up 2007&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2008&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2009&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2010&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2011&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2012&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2013&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2014&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Amount estimated for net claims for reinsurance:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; In the year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,987,288&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;987,998&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,062,753&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,185,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,403,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,448,969&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,509,781&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,536,697&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,653,008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,741,563&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,771,294&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; One year after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,004,988&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,000,730&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,082,779&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,183,274&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,386,518&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,431,243&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,491,911&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,568,941&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,648,842&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,755,802&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Two years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,038,732&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,530&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,105,401&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,195,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,393,915&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,447,741&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,525,941&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,570,227&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,644,051&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Three years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,075,972&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,018,008&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,100,970&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,185,871&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,406,376&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,450,511&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,514,898&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,495,266&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Four years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,079,897&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,017,316&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,109,079&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,198,856&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,406,472&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,454,750&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,516,747&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Five years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,081,301&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,015,902&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,119,669&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,198,607&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,416,009&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,459,181&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Six years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,086,778&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,017,807&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,118,181&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197,508&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,417,352&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Seven years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,068,574&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,021,908&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,112,583&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,189,843&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Eight years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,076,228&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,024,349&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,115,707&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Nine years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,094,047&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,756&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#183;&amp;#160; Ten years after notification&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,140,849&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Estimate of claims on the reporting date (2017)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,140,849&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,020,756&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,115,707&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,189,843&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,417,352&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,459,181&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,516,747&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,495,266&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,644,051&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,755,802&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,771,294&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;16,526,848&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments of claims&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,074,102)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,003,673)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,098,409)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,151,732)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,361,271)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,398,760)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,428,669)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,307,155)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,337,199)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,499,651)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,280,837)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(14,941,458)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;20%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liquid outstanding claims for reinsurance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;66,747&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,083&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,298&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;38,111&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;56,081&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;60,421&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;88,078&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;188,111&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;306,852&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,151&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;490,457&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;13%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,585,390&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:40.8pt;margin-right:0in;margin-top:6.0pt;&quot;&gt;&lt;a name=&quot;_Toc381783445&quot; /&gt;&lt;a name=&quot;_Toc379874165&quot; /&gt;&lt;a name=&quot;_Toc355707700&quot; /&gt;&lt;a name=&quot;_Toc474923374&quot; /&gt;&lt;a name=&quot;_Toc474919425&quot; /&gt;&lt;a name=&quot;_Toc415565941&quot; /&gt;&lt;a name=&quot;_Toc415499920&quot; /&gt;&lt;a name=&quot;_Toc415498755&quot; /&gt;&lt;a name=&quot;_Toc415498631&quot; /&gt;&lt;a name=&quot;_Toc415498402&quot; /&gt;&lt;a name=&quot;_Toc413337931&quot; /&gt;&lt;a name=&quot;_Toc412626263&quot; /&gt;&lt;a name=&quot;IFRS_Vida_Sinistros_Liquidos_Resseguro&quot; /&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1) The claims table does not include the products &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Health and Dental &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;insurance - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,906,361&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand, DPVAT insurance - R$&amp;#160;&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,592&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand, Retrocession - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;21,722&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand and salvage and reimbursement estimates - R$ &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(163,923)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt; thousand.&lt;/font&gt;&lt;/p&gt;</bbd:LifeInsuranceClaimsGrossReinsuranceTextBlock>
  <bbd:InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training. These expenses, including the aforementioned contributions, totaled the amount of R$&amp;#160;5,594,368 thousand in the year ending December 31, 2017 (2016 - R$ 3,826,715 thousand).&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;red&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Planos_Previdencia_Complementar&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;_Toc284885133&quot; /&gt;&lt;a name=&quot;IFRS_Planos_Previdencia_Complementar&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(i)&amp;#160;&amp;#160;&amp;#160;&amp;#160; Projected benefit obligations:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,141,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,162,005&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;761,119&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of current service&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Interest cost&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Participant&amp;#39;s contribution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Actuarial gain/(loss)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;144,624&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;182,762&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefit paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,042)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,323,338&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,141,393&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(ii)&amp;#160;&amp;#160;&amp;#160; Plan assets comprise:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the beginning of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,047,782&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance from an acquired institution&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;883,858&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected earnings&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;423,546&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;307,728&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Contributions received:&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employer&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;14,957&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;33,515&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Employees&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,197&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,831&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Benefit paid&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(192,043)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(147,842)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;At the end of the year&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,375,529&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,127,872&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(iii)&amp;#160;&amp;#160; Financial position:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Plans in deficit&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(149,571)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(130,293)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Plans in surplus&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;201,762&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;116,772&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net balance&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;52,191&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(13,521)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock>
  <bbd:TheNetCostbenefitOfThePensionPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The net cost/(benefit) of the pension plans recognized in the consolidated statement of income includes the following components:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Custo_Beneficio_Pensao&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Custo_Beneficio_Pensao&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Projected benefit obligations:&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;i&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of service&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;186&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,077)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(579)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Cost of interest on actuarial obligations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;227,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;181,595&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;133,385&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected earnings from the assets of the plan&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(227,360)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(174,937)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(120,960)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net cost/(benefit) of the pension plans&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;806&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,581&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11,846&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheNetCostbenefitOfThePensionPlansTextBlock>
  <bbd:BenefitObligationsAndNetPeriodicBenefitCostTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Benefit obligations and net periodic benefit cost for the years 2017 and 2016 for our subsidiaries, were determined using the following assumptions:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Obrig_Benef_Custo_Periodico&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Obrig_Benef_Custo_Periodico&quot; /&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Discount rate (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5% - 10% p.a. &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.1% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Expected long-term rate of return on the assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8.5% - 10% p.a. &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;11.1% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Increase in salary levels&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.3% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.8% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).&lt;/font&gt;&lt;/p&gt;</bbd:BenefitObligationsAndNetPeriodicBenefitCostTextBlock>
  <bbd:TheAssetsOfPensionPlansTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The assets of pension plans are invested in compliance with the applicable legislation (government securities and private securities, listed company shares and real estate properties) and the weighted-average allocation of the pension plan&amp;#39;s assets by category is as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;99%&quot; style=&quot;border-collapse:collapse;width:99.94%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Alvorada Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Bradesco Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Kirton Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets of the Losango Plan&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;21%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Asset categories&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Equities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;18.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Fixed income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;92.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;93.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;90.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;91.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;82.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;81.2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Real estate&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5.3%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.6%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;11%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;10%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;100.0%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheAssetsOfPensionPlansTextBlock>
  <bbd:TheSensitivityAnalysisOfTheBenefitPlanObligationsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Below is the sensitivity analysis of the benefit plan obligations, showing the impact on the actuarial exposure (8.5 - 10.0% p.a.) assuming a 1 b.p. change in the discount rate:&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Sensib_Obrig_Planos_de_Beneficio&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Sensib_Obrig_Planos_de_Beneficio&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Discount rate&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sensitivity Analysis&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect on actuarial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Effect on the present value of the obligations&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;9.5% - 11.0% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Increase of 1 p.p.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;reduction&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(256,532)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;41%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7.5% - 9.0% p.a.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Decrease of 1 b.p.&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;increase&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;303,154&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:TheSensitivityAnalysisOfTheBenefitPlanObligationsTextBlock>
<!-- ELement Id bbd_ChangesInOtherProvisionTextBlock -->
  <bbd:ChangesInOtherProvisionTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;d)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in other provision&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Mov_Outras_Provisoes&quot; width=&quot;590&quot; style=&quot;border-collapse:collapse;margin-left:42.55pt;width:450.799988pt;&quot;&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt;&lt;a name=&quot;IFRS_Mov_Outras_Provisoes&quot; /&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;49%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:2.85pt;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Labor&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Civil&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Tax and Social Security (1) (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,101,732 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,440 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,237 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Indexation charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;637,263 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;484,447 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;500,719 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,002,559 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;830,642 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(984,342)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,186,758)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(971,966)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(114,246)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,554,796 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,346,563 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,589,368 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,048,442&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,202,950&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,112,925&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Indexation charges&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;454,045&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;409,236&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;705,036&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Additions, net of reversals&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;876,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,310,333&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,236,705)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance originating from an acquired institution &lt;sup&gt;(3)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,684,370&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;544,997&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;703,967&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Payments &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(961,941)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,464,076)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(97,986)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:14.15pt;&quot;&gt; &lt;td valign=&quot;bottom&quot; width=&quot;51%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Balance on &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;&quot;&gt;December 31, 2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;17%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,101,732&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,003,440&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,187,237&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;Mainly include legal liabilities;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Sa&amp;#250;de subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;&quot;&gt;HSBC Brasil.&lt;/font&gt;&lt;/p&gt;</bbd:ChangesInOtherProvisionTextBlock>
  <bbd:OtherLiabilitiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;h1 style=&quot;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;&quot;&gt;&lt;a name=&quot;_Toc474923377&quot; /&gt;&lt;a name=&quot;_Toc284885135&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;38.&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/b&gt;&lt;/h1&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Outros_Passivos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Outros_Passivos&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Credit card transactions (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;26,163,066&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;23,717,936&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Foreign exchange transactions (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,085,029&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;17,975,291&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loan assignment obligations&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,454,076&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,761,827&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Capitalization bonds&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,562,974&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,502,158&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Securities trading&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,317,155&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,569,881&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities for acquisition of assets - financial leasing (Note 38 a)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,212&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,649&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Third party funds in transit (3)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,211,038&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;7,068,452&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Provision for payments&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,743,428&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,997,168&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Sundry creditors&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,205,800&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,843,035&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social and statutory&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,524,457&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,631,237&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other taxes payable&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,466,306&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,528,980&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities for acquisition of assets and rights&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,480,777&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,452,568&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,745,506&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;4,853,333&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;97,816,824&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;96,965,515&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to amounts payable to merchants;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mainly refers to the institution&amp;#39;s sales in foreign currency to customers and its right&amp;#39;s in domestic currency, resulting from exchange sale operations; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:7.0pt;&quot;&gt;(3)&lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.&lt;/font&gt;&lt;/p&gt;</bbd:OtherLiabilitiesTextBlock>
  <bbd:CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:39.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;a)&lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;Composition by maturity of financial leases and details of operating leases&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Arrend_Financ_Arrend_Operacionais&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Arrend_Financ_Arrend_Operacionais&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Due within one year&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;564,337&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;578,965&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 1 to 2 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;256,327&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;375,073&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;From 2 to 3 years&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;36,548&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;109,611&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;857,212&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,063,649&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock>
  <bbd:CompositionOfShareCapitalInNumberOfSharesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The share capital, which is fully subscribed and paid, is divided into registered shares with no par value.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,481,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,481,112&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,480,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,054,480,793&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Subtotal&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,108,961,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,108,961,905&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Treasury (common shares)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,032,549)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(5,032,549)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Treasury (preferred shares)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,855,746)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(18,855,746)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total outstanding shares&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:CompositionOfShareCapitalInNumberOfSharesTextBlock>
  <bbd:ChangesInCapitalStockInNumberOfSharesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;ii.&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;line-height:115%;&quot;&gt;&amp;#160;&amp;#160; &lt;/font&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Changes in capital stock, in number of shares&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2015 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,050,040,493&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,665,540&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Shares acquired and not canceled&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(591,930)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(591,930)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2016 (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,448,563&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Number of shares outstanding on December 31, 2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,049,448,563&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,035,625,047&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,085,073,610&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ChangesInCapitalStockInNumberOfSharesTextBlock>
  <ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The main transactions with related parties are presented as follows:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;8&quot; valign=&quot;bottom&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Controllers (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and Jointly controlled companies (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Key Management Personnel (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td colspan=&quot;8&quot; width=&quot;69%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Assets&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Loans and advances to banks&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;724,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,033,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;724,369&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,033,479&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other assets&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,572&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,128&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;3,572&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,128&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Liabilities&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Deposits from customers&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;931,141&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,374,940&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;103,734&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;62,928&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;87,213&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;86,594&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,122,088&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,524,462&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Funds from issuance of securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,632,932&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;5,755,615&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;244,082&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;398,549&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,405,203&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;823,527&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,282,217&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;6,977,691&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Social and statutory&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,275,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,770,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2,275,419&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1,770,149&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:10.2pt;&quot;&gt; &lt;td width=&quot;31%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other liabilities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,827,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;8%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;8,827,877&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;9%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;13,704&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory>
  <bbd:MainTransactionsWithRelatedPartiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td rowspan=&quot;4&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;12&quot; valign=&quot;bottom&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Controllers (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Associates and Jointly controlled companies (2)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Key Management Personnel (3)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; width=&quot;20%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td colspan=&quot;12&quot; width=&quot;77%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Revenues and expenses&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Net interest income&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(887,059)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,129,931)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(78,813)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;40,671&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(41,814)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(426)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(84,818)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(108,333)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(88,344)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(931,206)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1,280,078)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(167,583)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other revenues&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,381&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;360,286&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;337,070&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.05pt;&quot;&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Other expenses&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,652)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,391)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2,160)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(289,100)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(224,444)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(246,504)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;-&amp;#160; &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;6%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(291,752)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(226,835)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;7%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(248,664)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(1) Cidade de Deus Cia. Cial. de Participa&amp;#231;&amp;#245;es, Funda&amp;#231;&amp;#227;o Bradesco, NCF Participa&amp;#231;&amp;#245;es S.A., Titanium Holdings S.A., BBD Participa&amp;#231;&amp;#245;es S.A. and Nova Cidade de Deus Participa&amp;#231;&amp;#245;es S.A.;&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(2) Companies listed in Note 2; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;&quot;&gt;(3) Members of the Board of Directors and the Board of Executive Officers.&lt;/font&gt;&lt;/p&gt;</bbd:MainTransactionsWithRelatedPartiesTextBlock>
  <bbd:ShorttermBenefitsForManagementTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Short-term benefits for management&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Beneficios_Curto_Prazo_Adm&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Beneficios_Curto_Prazo_Adm&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Salaries&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;456,262&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,592&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,864&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;16%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;456,262&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;441,592&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;15%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;309,864&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:ShorttermBenefitsForManagementTextBlock>
  <bbd:PostemploymentBenefitsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Post-employment benefits&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Beneficios_Pos_Pagos&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Beneficios_Pos_Pagos&quot; /&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;3&quot; width=&quot;54%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Years ended December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2015&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Defined contribution supplementary pension plans&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,663&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,250&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;311,670&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;46%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;473,663&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;17%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;251,250&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;19%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;311,670&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:PostemploymentBenefitsTextBlock>
  <bbd:TogetherDirectlyMembersOfTheBoardOfDirectorsAndBoardOfTheExecutiveOfficersHadTheFollowingShareholdingTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding in Bradesco:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;2&quot; width=&quot;35%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Calibri,sans-serif;font-size:11.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;65%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Common shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.5%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.7%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Preferred shares&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.0%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;1.1%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;35%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total shares (1)&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;32%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.8%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;33%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;0.9%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).&lt;/font&gt;&lt;/p&gt;</bbd:TogetherDirectlyMembersOfTheBoardOfDirectorsAndBoardOfTheExecutiveOfficersHadTheFollowingShareholdingTextBlock>
<!-- ELement Id bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock -->
  <bbd:TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;The table below summarizes the total risk represented by off-balance sheet commitments:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;0&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; title=&quot;IFRS_Itens_Nao_Registrados_BP&quot; width=&quot;100%&quot; style=&quot;border-collapse:collapse;width:100.0%;&quot;&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td rowspan=&quot;3&quot; width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;a name=&quot;IFRS_Itens_Nao_Registrados_BP&quot; /&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;R$ thousand&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td colspan=&quot;2&quot; width=&quot;36%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;On December 31&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2017&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;2016&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Commitments to extend credit (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;203,927,816&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;237,019,535&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Financial guarantees (2)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,867,348&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;78,949,483&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Letters of credit for imports&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;294,229&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;329,015&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:11.6pt;&quot;&gt; &lt;td width=&quot;64%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;windowtext&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;283,089,393&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;18%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;316,298,033&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(1)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;(2)&lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Times New Roman;font-size:7.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;font color=&quot;black&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:8.0pt;&quot;&gt;Refers to guarantees mostly provided for Corporate customers.&lt;/font&gt;&lt;/p&gt;</bbd:TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock>
  <bbd:AdditionalAllowanceForLoanLossesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The Organization believes that impairment losses will increase and become more volatile than the current ones, for the assets assessed in the model of IFRS 9. Based on the methodology of allowance for loan losses adopted, the Organization estimated, on current best estimates, that the application of the impairment requirements of IFRS 9 on January 1, 2018 would result in additional allowance for loan losses, as described in the table below:&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;1&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; style=&quot;border:none;border-collapse:collapse;margin-left:56.55pt;width:446.299988pt;&quot;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;R$ millions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Provision for additional estimated credit losses on January 1, 2018&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Credit portfolio (1)&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 3,829 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Securities&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 842 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;62%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Total gross additional provisions&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;38%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;/font&gt;&lt;/b&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;4,671 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;(1) includes commitments and financial guarantees provided&lt;/font&gt;&lt;/p&gt;</bbd:AdditionalAllowanceForLoanLossesTextBlock>
  <bbd:OnCurrentBestEstimatesProvidesInformationOnTheEstimatedExposureToLoanRiskAndExpectedLoanLossesAndAdvancesCommitmentsFinancialCollateralsProvidedAndPrivateDebtSecuritiesTextBlock contextRef="Context1">&lt;!--DOCTYPE html PUBLIC &quot;-//W3C//DTD XHTML 1.0 Transitional//EN&quot; &quot;http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd&quot; --&gt;&lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;The table below, on current best estimates, provides information on the estimated exposure to loan risk and expected loan losses and advances, commitments, financial collaterals provided and Private Debt Securities, on January 1, 2018.&lt;/font&gt;&lt;/p&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;&quot;&gt;&lt;font color=&quot;windowtext&quot; lang=&quot;EN-US&quot; style=&quot;font-family:Arial,sans-serif;font-size:10.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt; &lt;table border=&quot;1&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; width=&quot;567&quot; style=&quot;border:none;border-collapse:collapse;margin-left:56.55pt;width:468.200012pt;&quot;&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;top&quot; width=&quot;22%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;top&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;R$ millions&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr&gt; &lt;td valign=&quot;top&quot; width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;justify&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;i&gt;&lt;font color=&quot;black&quot; lang=&quot;PT-BR&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Estimated Exposure to Credit Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;line-height:250%;&quot;&gt;Expected Loss&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td valign=&quot;bottom&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;center&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Expected Loss on Estimated Exposure to Credit Risk&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 1&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 432,416 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,688 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;2%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 2&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 51,853 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,581 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;15%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Stage 3&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 37,277 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 17,779 &lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;48%&lt;/font&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:12.75pt;&quot;&gt; &lt;td width=&quot;30%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;Total&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 521,546 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td colspan=&quot;2&quot; width=&quot;24%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;&amp;#160;&amp;#160; 33,048 &lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;td width=&quot;23%&quot; style=&quot;background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;&quot;&gt; &lt;p align=&quot;right&quot; style=&quot;margin:0in;margin-bottom:.0001pt;&quot;&gt;&lt;b&gt;&lt;font color=&quot;black&quot; style=&quot;font-family:Arial,sans-serif;font-size:9.0pt;&quot;&gt;6%&lt;/font&gt;&lt;/b&gt;&lt;/p&gt; &lt;/td&gt; &lt;/tr&gt; &lt;tr style=&quot;height:0;&quot;&gt; &lt;td width=&quot;30%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;22%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;23%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;1%&quot;&gt;&lt;/td&gt; &lt;td width=&quot;23%&quot;&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;</bbd:OnCurrentBestEstimatesProvidesInformationOnTheEstimatedExposureToLoanRiskAndExpectedLoanLossesAndAdvancesCommitmentsFinancialCollateralsProvidedAndPrivateDebtSecuritiesTextBlock>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents contextRef="Context119" unitRef="Unit2" decimals="-3">8476708000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact17">8476708000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks contextRef="Context119" unitRef="Unit2" decimals="-3">14895767000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact18">14895767000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks contextRef="Context119" unitRef="Unit2" decimals="-3">69364585000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks contextRef="Context120" unitRef="Unit2" decimals="-3">-1650016000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact19">67714569000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading contextRef="Context119" unitRef="Unit2" decimals="-3">20881824000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact20">20881824000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale contextRef="Context119" unitRef="Unit2" decimals="-3">23745717000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact21">23745717000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity contextRef="Context119" unitRef="Unit2" decimals="-3">13450000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity contextRef="Context120" unitRef="Unit2" decimals="-3">22411000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact22">35861000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation contextRef="Context119" unitRef="Unit2" decimals="-3">1175554000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation contextRef="Context120" unitRef="Unit2" decimals="-3">622246000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact23">1797800000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation>
<!-- ELement Id bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets -->
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets contextRef="Context119" unitRef="Unit2" decimals="-3">558015000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets contextRef="Context120" unitRef="Unit2" decimals="-3">3993743000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact24">4551758000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets contextRef="Context119" unitRef="Unit2" decimals="-3">25808692000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets contextRef="Context120" unitRef="Unit2" decimals="-3">848699000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact25">26657391000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks contextRef="Context119" unitRef="Unit2" decimals="-3">-7808801000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact26">-7808801000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers contextRef="Context119" unitRef="Unit2" decimals="-3">-56766587000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact27">-56766587000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading contextRef="Context119" unitRef="Unit2" decimals="-3">-3790048000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact28">-3790048000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued contextRef="Context119" unitRef="Unit2" decimals="-3">-40187105000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued contextRef="Context120" unitRef="Unit2" decimals="-3">-64701000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact29">-40251806000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt contextRef="Context119" unitRef="Unit2" decimals="-3">-1401348000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact30">-1401348000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions contextRef="Context119" unitRef="Unit2" decimals="-3">-3429291000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact31">-3429291000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities contextRef="Context119" unitRef="Unit2" decimals="-3">-42242831000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact32">-42242831000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities>
  <bbd:BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal contextRef="Context119" unitRef="Unit2" decimals="-3">9294301000</bbd:BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal>
  <bbd:BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact33">13066683000</bbd:BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal>
<!-- ELement Id bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill -->
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill contextRef="Context120" unitRef="Unit2" decimals="-3">4221787000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill>
  <bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact34">4221787000</bbd:AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill>
  <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="Context119" unitRef="Unit2" decimals="-3">9294301000</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
  <ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact35">17288470000</ifrs-full:AcquisitiondateFairValueOfTotalConsiderationTransferred>
  <ifrs-full:CashTransferred contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact36">15665367000</ifrs-full:CashTransferred>
  <ifrs-full:LiabilitiesIncurred contextRef="Context13" unitRef="Unit2" decimals="-3" id="Fact37">1623103000</ifrs-full:LiabilitiesIncurred>
  <ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary contextRef="Context7" unitRef="Unit2" decimals="-3">9294301000</ifrs-full:IncreaseDecreaseThroughAcquisitionOfSubsidiary>
  <ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed contextRef="Context13" unitRef="Unit2" decimals="-3">-221361000</ifrs-full:IdentifiableAssetsAcquiredLiabilitiesAssumed>
  <ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate contextRef="Context13" unitRef="Unit2" decimals="-3">3993743000</ifrs-full:IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate>
  <ifrs-full:NameOfSubsidiary contextRef="Context121">Banco Alvorada S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context122">Banco Alvorada S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context121">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context122">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context121">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context122">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context121" unitRef="Unit3" decimals="4">0.9999</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context122" unitRef="Unit3" decimals="4">0.9999</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context123">Banco Bradesco Financiamentos S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context124">Banco Bradesco Financiamentos S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context123">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context124">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context123">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context124">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context123" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context124" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context125" id="Fact38">Banco Boavista Interatl&#226;ntico S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context126" id="Fact39">Banco Boavista Interatl&#226;ntico S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context125" id="Fact40">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context126" id="Fact41">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context125" id="Fact42">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context126" id="Fact43">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context125" unitRef="Unit3" decimals="2" id="Fact44">0.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context126" unitRef="Unit3" decimals="4" id="Fact45">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context127">Banco Bradesco Argentina S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context128">Banco Bradesco Argentina S.A.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context127">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context128">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context127">Argentina</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context128">Argentina</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context127" unitRef="Unit3" decimals="4">0.9999</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context128" unitRef="Unit3" decimals="4">0.9999</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context129">Banco Bradesco Europa S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context130">Banco Bradesco Europa S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context129">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context130">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context129">Luxembourg</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context130">Luxembourg</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context129" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context130" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context131">Banco Bradesco BERJ S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context132">Banco Bradesco BERJ S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context131">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context132">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context131">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context132">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context131" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context132" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context133">Banco Bradescard S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context134">Banco Bradescard S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context133">Cards</bbd:Activity>
  <bbd:Activity contextRef="Context134">Cards</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context133">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context134">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context133" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context134" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context135" id="Fact46">Banco Bradesco BBI S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context136" id="Fact47">Banco Bradesco BBI S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context135" id="Fact48">Investment Bank</bbd:Activity>
  <bbd:Activity contextRef="Context136" id="Fact49">Investment Bank</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context135" id="Fact50">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context136" id="Fact51">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context135" unitRef="Unit3" decimals="4" id="Fact52">0.9985</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context136" unitRef="Unit3" decimals="4" id="Fact53">0.9981</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context137">Banco Bradesco Cart&#245;es S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context138">Banco Bradesco Cart&#245;es S.A.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context137">Cards</bbd:Activity>
  <bbd:Activity contextRef="Context138">Cards</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context137">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context138">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context137" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context138" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context139" id="Fact54">Bradesco Administradora de Cons&#243;rcios Ltda.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context140" id="Fact55">Bradesco Administradora de Cons&#243;rcios Ltda.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context139" id="Fact56">Consortium Management</bbd:Activity>
  <bbd:Activity contextRef="Context140" id="Fact57">Consortium Management</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context139" id="Fact58">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context140" id="Fact59">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context139" unitRef="Unit3" decimals="4" id="Fact60">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context140" unitRef="Unit3" decimals="4" id="Fact61">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context141">Bradseg Participa&#231;&#245;es S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context142">Bradseg Participa&#231;&#245;es S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context141">Holding</bbd:Activity>
  <bbd:Activity contextRef="Context142">Holding</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context141">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context142">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context141" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context142" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context143">Bradesco Auto/RE Cia. de Seguros</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context144">Bradesco Auto/RE Cia. de Seguros</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context143">Insurance</bbd:Activity>
  <bbd:Activity contextRef="Context144">Insurance</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context143">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context144">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context143" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context144" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context145">Bradesco Capitaliza&#231;&#227;o S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context146">Bradesco Capitaliza&#231;&#227;o S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context145">Capitalization bonds</bbd:Activity>
  <bbd:Activity contextRef="Context146">Capitalization bonds</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context145">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context146">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context145" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context146" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context147">Odontoprev S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context148">Odontoprev S.A.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context147">Dental care</bbd:Activity>
  <bbd:Activity contextRef="Context148">Dental care</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context147">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context148">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context147" unitRef="Unit3" decimals="4">0.5001</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context148" unitRef="Unit3" decimals="4">0.5001</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context149">Bradesco Leasing S.A. Arrendamento Mercantil</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context150">Bradesco Leasing S.A. Arrendamento Mercantil</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context149">Leasing</bbd:Activity>
  <bbd:Activity contextRef="Context150">Leasing</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context149">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context150">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context149" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context150" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context151">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context152">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context151">Brokerage</bbd:Activity>
  <bbd:Activity contextRef="Context152">Brokerage</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context151">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context152">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context151" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context152" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context153">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context154">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context153">Brokerage</bbd:Activity>
  <bbd:Activity contextRef="Context154">Brokerage</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context153">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context154">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context153" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context154" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context155">Bradesco Sa&#250;de S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context156">Bradesco Sa&#250;de S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context155">Insurance / Health</bbd:Activity>
  <bbd:Activity contextRef="Context156">Insurance / Health</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context155">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context156">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context155" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context156" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context157">Bradesco Seguros S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context158">Bradesco Seguros S.A.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context157">Insurance</bbd:Activity>
  <bbd:Activity contextRef="Context158">Insurance</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context157">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context158">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context157" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context158" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context159">Bradesco Vida e Previd&#234;ncia S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context160">Bradesco Vida e Previd&#234;ncia S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context159">Pension plan/Insurer</bbd:Activity>
  <bbd:Activity contextRef="Context160">Pension plan/Insurer</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context159">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context160">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context159" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context160" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context161">Bradesplan Participa&#231;&#245;es Ltda.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context162">Bradesplan Participa&#231;&#245;es Ltda.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context161">Holding</bbd:Activity>
  <bbd:Activity contextRef="Context162">Holding</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context161">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context162">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context161" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context162" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context163">BRAM - Bradesco Asset Management S.A. DTVM</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context164">BRAM - Bradesco Asset Management S.A. DTVM</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context163">Asset Management</bbd:Activity>
  <bbd:Activity contextRef="Context164">Asset Management</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context163">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context164">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context163" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context164" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context165">Tempo Servi&#231;os Ltda.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context166">Tempo Servi&#231;os Ltda.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context165">Services</bbd:Activity>
  <bbd:Activity contextRef="Context166">Services</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context165">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context166">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context165" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context166" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context167">Uni&#227;o Participa&#231;&#245;es Ltda.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context168">Uni&#227;o Participa&#231;&#245;es Ltda.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context167">Holding</bbd:Activity>
  <bbd:Activity contextRef="Context168">Holding</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context167">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context168">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context167" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context168" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context169">Banco Losango S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context170">Banco Losango S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context169">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context170">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context169">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context170">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context169" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context170" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context171" id="Fact62">Kirton Administradora de Cons&#243;rcios Ltda.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context172" id="Fact63">Kirton Administradora de Cons&#243;rcios Ltda.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context171" id="Fact64">Consortium management</bbd:Activity>
  <bbd:Activity contextRef="Context172" id="Fact65">Consortium management</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context171" id="Fact66">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context172" id="Fact67">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context171" unitRef="Unit3" decimals="2" id="Fact68">0.00</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context172" unitRef="Unit3" decimals="4" id="Fact69">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context173">kirton Bank Brasil S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context174">kirton Bank Brasil S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context173">Banking</bbd:Activity>
  <bbd:Activity contextRef="Context174">Banking</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context173">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context174">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context173" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context174" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context175">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context176">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</ifrs-full:NameOfSubsidiary>
  <bbd:Activity contextRef="Context175">Brokerage</bbd:Activity>
  <bbd:Activity contextRef="Context176">Brokerage</bbd:Activity>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context175">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context176">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context175" unitRef="Unit3" decimals="4">0.9997</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context176" unitRef="Unit3" decimals="4">0.9997</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context177" id="Fact70">Kirton Capitaliza&#231;&#227;o S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context178" id="Fact71">Kirton Capitaliza&#231;&#227;o S.A.</ifrs-full:NameOfSubsidiary>
<!-- ELement Id bbd_Activity -->
  <bbd:Activity contextRef="Context177" id="Fact72">Capitalization bonds</bbd:Activity>
  <bbd:Activity contextRef="Context178" id="Fact73">Capitalization bonds</bbd:Activity>
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  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context177" unitRef="Unit3" decimals="4" id="Fact76">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context178" unitRef="Unit3" decimals="4" id="Fact77">0.9997</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context179" id="Fact78">Kirton Seguros S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context180" id="Fact79">Kirton Seguros S.A.</ifrs-full:NameOfSubsidiary>
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  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context180" id="Fact83">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context179" unitRef="Unit3" decimals="4" id="Fact84">0.9854</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context180" unitRef="Unit3" decimals="4" id="Fact85">0.9808</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context181">Kirton Vida e Previd&#234;ncia S.A.</ifrs-full:NameOfSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context182">Kirton Vida e Previd&#234;ncia S.A.</ifrs-full:NameOfSubsidiary>
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  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context181">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
  <ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary contextRef="Context182">Brazil</ifrs-full:CountryOfIncorporationOrResidenceOfSubsidiary>
<!-- ELement Id ifrs-full_ProportionOfOwnershipInterestInSubsidiary -->
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  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context182" unitRef="Unit3" decimals="4">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
  <ifrs-full:NameOfSubsidiary contextRef="Context183" id="Fact86">Kirton Participa&#231;&#245;es e Investimentos Ltda.</ifrs-full:NameOfSubsidiary>
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  <ifrs-full:ProportionOfOwnershipInterestInSubsidiary contextRef="Context184" unitRef="Unit3" decimals="4" id="Fact93">1.0000</ifrs-full:ProportionOfOwnershipInterestInSubsidiary>
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  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="Context195" unitRef="Unit3" decimals="2">0.20</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <ifrs-full:ProportionOfOwnershipInterestInAssociate contextRef="Context196" unitRef="Unit3" decimals="2">0.50</ifrs-full:ProportionOfOwnershipInterestInAssociate>
  <bbd:SubsequentCosts contextRef="Context191">one year</bbd:SubsequentCosts>
  <bbd:TheEstimatedUsefulLifeOfSoftware contextRef="Context191">two to five years</bbd:TheEstimatedUsefulLifeOfSoftware>
  <bbd:RiskRelatedToTheCoverOfTheHoldersDependentsFollowingTheDeathOfTheHolder contextRef="Context191">five years</bbd:RiskRelatedToTheCoverOfTheHoldersDependentsFollowingTheDeathOfTheHolder>
<!-- ELement Id ifrs-full_ActuarialAssumptionOfDiscountRates -->
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="Context185" unitRef="Unit3" decimals="3">0.045</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="Context186" unitRef="Unit3" decimals="3">0.051</ifrs-full:ActuarialAssumptionOfDiscountRates>
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  <ifrs-full:ActuarialAssumptionOfDiscountRates contextRef="Context190" unitRef="Unit3" decimals="3">0.051</ifrs-full:ActuarialAssumptionOfDiscountRates>
  <bbd:ConsortiumNetIncome contextRef="Context193" unitRef="Unit3" decimals="2">0.50</bbd:ConsortiumNetIncome>
  <bbd:ConsortiumNetIncome contextRef="Context194" unitRef="Unit3" decimals="2">0.50</bbd:ConsortiumNetIncome>
  <bbd:TheProjectedAverageLossRatio contextRef="Context2" unitRef="Unit3" decimals="2">0.42</bbd:TheProjectedAverageLossRatio>
  <bbd:TheProjectedAverageLossRatioExtendedGuaranteeSegment contextRef="Context2" unitRef="Unit3" decimals="4">0.1519</bbd:TheProjectedAverageLossRatioExtendedGuaranteeSegment>
  <bbd:TheProjectedAverageLossRatioForTheElementaryLines contextRef="Context2" unitRef="Unit3" decimals="4">0.5021</bbd:TheProjectedAverageLossRatioForTheElementaryLines>
  <bbd:TheAverageReinsuranceProjectedInTheStudyCalculatedOnTheBasisOfReportedClaims contextRef="Context2" unitRef="Unit3" decimals="4">0.0205</bbd:TheAverageReinsuranceProjectedInTheStudyCalculatedOnTheBasisOfReportedClaims>
  <bbd:DeferredTaxAssetsOnIncomeTaxAndSocialContributionLossesAreRealizableWhenTaxableIncomeIsGenerated contextRef="Context191" unitRef="Unit3" decimals="2">0.30</bbd:DeferredTaxAssetsOnIncomeTaxAndSocialContributionLossesAreRealizableWhenTaxableIncomeIsGenerated>
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  <ifrs-full:ApplicableTaxRate contextRef="Context204" unitRef="Unit3" decimals="2">0.10</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="Context205" unitRef="Unit3" decimals="2">0.15</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="Context206" unitRef="Unit3" decimals="2">0.20</ifrs-full:ApplicableTaxRate>
  <ifrs-full:ApplicableTaxRate contextRef="Context207" unitRef="Unit3" decimals="2">0.15</ifrs-full:ApplicableTaxRate>
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  <bbd:TotalItemsRecordedInTheBalanceSheet contextRef="Context2" unitRef="Unit2" decimals="-3" id="Fact94">1100876068000</bbd:TotalItemsRecordedInTheBalanceSheet>
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  <ifrs-full:MaximumExposureToCreditRisk contextRef="Context2" unitRef="Unit2" decimals="-3">1383965461000</ifrs-full:MaximumExposureToCreditRisk>
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  <bbd:TradedInTheStockExchange contextRef="Context2" unitRef="Unit2" decimals="-3">88120000</bbd:TradedInTheStockExchange>
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<!-- ELement Id bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired -->
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  <bbd:LoansAndAdvancesToCustomersPastDueButNotImpaired contextRef="Context13" unitRef="Unit2" decimals="-3">12612906000</bbd:LoansAndAdvancesToCustomersPastDueButNotImpaired>
  <bbd:LoansAndAdvancesToCustomersImpaired contextRef="Context2" unitRef="Unit2" decimals="-3">41533433000</bbd:LoansAndAdvancesToCustomersImpaired>
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  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired contextRef="Context216" unitRef="Unit2" decimals="-3">325170838000</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired>
  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired contextRef="Context217" unitRef="Unit2" decimals="-3">9895319000</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired>
  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired contextRef="Context218" unitRef="Unit2" decimals="-3">10269218000</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired>
  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired contextRef="Context219" unitRef="Unit2" decimals="-3">2164932000</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired>
  <bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired contextRef="Context220" unitRef="Unit2" decimals="-3">1897096000</bbd:LoansAndAdvancesToCustomersNeitherPastDueNorImpaired>
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  <bbd:LoansAndAdvancesToCustomersPastDueButNotImpaired contextRef="Context226" unitRef="Unit2" decimals="-3">266904000</bbd:LoansAndAdvancesToCustomersPastDueButNotImpaired>
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  <bbd:LoansAndAdvancesToCustomersImpairedPersonalCredit contextRef="Context2" unitRef="Unit2" decimals="-3">4632789000</bbd:LoansAndAdvancesToCustomersImpairedPersonalCredit>
  <bbd:LoansAndAdvancesToCustomersImpairedPersonalCredit contextRef="Context13" unitRef="Unit2" decimals="-3">4951949000</bbd:LoansAndAdvancesToCustomersImpairedPersonalCredit>
<!-- ELement Id bbd_LoansAndAdvancesToCustomersImpairedHousingLoans -->
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  <bbd:LoansAndAdvancesToCustomersImpairedFinancingAndExport contextRef="Context2" unitRef="Unit2" decimals="-3">2770221000</bbd:LoansAndAdvancesToCustomersImpairedFinancingAndExport>
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  <bbd:LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit contextRef="Context2" unitRef="Unit2" decimals="-3">1333748000</bbd:LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit>
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  <bbd:LoansAndAdvancesToCustomersImpairedRuralLoans contextRef="Context13" unitRef="Unit2" decimals="-3">946282000</bbd:LoansAndAdvancesToCustomersImpairedRuralLoans>
  <bbd:LoansAndAdvancesToCustomersImpairedOnlendingBndesfiname contextRef="Context2" unitRef="Unit2" decimals="-3">780985000</bbd:LoansAndAdvancesToCustomersImpairedOnlendingBndesfiname>
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  <bbd:LoansAndAdvancesToCustomersImpairedOverdraftForIndividuals contextRef="Context2" unitRef="Unit2" decimals="-3">638506000</bbd:LoansAndAdvancesToCustomersImpairedOverdraftForIndividuals>
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  <bbd:LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets contextRef="Context2" unitRef="Unit2" decimals="-3">295944000</bbd:LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets>
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  <bbd:LoansAndAdvancesToCustomersImpairedOverdraftForCorporate contextRef="Context2" unitRef="Unit2" decimals="-3">256271000</bbd:LoansAndAdvancesToCustomersImpairedOverdraftForCorporate>
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<!-- ELement Id bbd_AdditionalRenegotiatedAmountsIncludingInterest -->
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  <bbd:RenegotiatedLoansAndAdvancesToCustomersPaymentsReceived contextRef="Context13" unitRef="Unit2" decimals="-3">-8997802000</bbd:RenegotiatedLoansAndAdvancesToCustomersPaymentsReceived>
  <bbd:RenegotiatedLoansAndAdvancesToCustomersWriteoffs contextRef="Context2" unitRef="Unit2" decimals="-3">-6395377000</bbd:RenegotiatedLoansAndAdvancesToCustomersWriteoffs>
  <bbd:RenegotiatedLoansAndAdvancesToCustomersWriteoffs contextRef="Context13" unitRef="Unit2" decimals="-3">-5007312000</bbd:RenegotiatedLoansAndAdvancesToCustomersWriteoffs>
  <bbd:RenegotiatedLoansAndAdvancesAtTheEndOfTheYear contextRef="Context2" unitRef="Unit2" decimals="-3">17183869000</bbd:RenegotiatedLoansAndAdvancesAtTheEndOfTheYear>
  <bbd:RenegotiatedLoansAndAdvancesAtTheEndOfTheYear contextRef="Context13" unitRef="Unit2" decimals="-3">17501423000</bbd:RenegotiatedLoansAndAdvancesAtTheEndOfTheYear>
  <bbd:RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances contextRef="Context2" unitRef="Unit2" decimals="-3">10853777000</bbd:RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances>
  <bbd:RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances contextRef="Context13" unitRef="Unit2" decimals="-3">10346397000</bbd:RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances>
  <bbd:TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear contextRef="Context2" unitRef="Unit2" decimals="-3">6330092000</bbd:TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear>
  <bbd:TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear contextRef="Context13" unitRef="Unit2" decimals="-3">7155026000</bbd:TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear>
  <bbd:ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio contextRef="Context2" unitRef="Unit3" decimals="4">0.6320</bbd:ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio>
  <bbd:ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio contextRef="Context13" unitRef="Unit3" decimals="4">0.5910</bbd:ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio>
  <bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio contextRef="Context2" unitRef="Unit3" decimals="4">0.0460</bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio>
  <bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio contextRef="Context13" unitRef="Unit3" decimals="4">0.0450</bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio>
  <bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment contextRef="Context2" unitRef="Unit3" decimals="4">0.0180</bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment>
  <bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment contextRef="Context13" unitRef="Unit3" decimals="4">0.0190</bbd:TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment>
  <bbd:LargestBorrower contextRef="Context2" unitRef="Unit3" decimals="4">0.0250</bbd:LargestBorrower>
  <bbd:LargestBorrower contextRef="Context13" unitRef="Unit3" decimals="4">0.0230</bbd:LargestBorrower>
<!-- ELement Id bbd_TenLargestBorrowers -->
  <bbd:TenLargestBorrowers contextRef="Context2" unitRef="Unit3" decimals="4">0.0820</bbd:TenLargestBorrowers>
  <bbd:TenLargestBorrowers contextRef="Context13" unitRef="Unit3" decimals="4">0.0850</bbd:TenLargestBorrowers>
  <bbd:TwentyLargestBorrowers contextRef="Context2" unitRef="Unit3" decimals="4">0.1220</bbd:TwentyLargestBorrowers>
  <bbd:TwentyLargestBorrowers contextRef="Context13" unitRef="Unit3" decimals="4">0.1260</bbd:TwentyLargestBorrowers>
  <bbd:FiftyLargestBorrowers contextRef="Context2" unitRef="Unit3" decimals="4">0.1780</bbd:FiftyLargestBorrowers>
  <bbd:FiftyLargestBorrowers contextRef="Context13" unitRef="Unit3" decimals="4">0.1850</bbd:FiftyLargestBorrowers>
  <bbd:HundredLargestBorrowers contextRef="Context2" unitRef="Unit3" decimals="4">0.2220</bbd:HundredLargestBorrowers>
  <bbd:HundredLargestBorrowers contextRef="Context13" unitRef="Unit3" decimals="4">0.2300</bbd:HundredLargestBorrowers>
  <bbd:LoansAndAdvancesToCustomersPublicSector contextRef="Context2" unitRef="Unit2" decimals="-3">9676927000</bbd:LoansAndAdvancesToCustomersPublicSector>
  <bbd:LoansAndAdvancesToCustomersPublicSector contextRef="Context13" unitRef="Unit2" decimals="-3">8813581000</bbd:LoansAndAdvancesToCustomersPublicSector>
  <bbd:LoansAndAdvancesToCustomersPercentagePublicSector contextRef="Context2" unitRef="Unit3" decimals="3">0.026</bbd:LoansAndAdvancesToCustomersPercentagePublicSector>
  <bbd:LoansAndAdvancesToCustomersPercentagePublicSector contextRef="Context13" unitRef="Unit3" decimals="3">0.022</bbd:LoansAndAdvancesToCustomersPercentagePublicSector>
  <bbd:LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities contextRef="Context2" unitRef="Unit2" decimals="-3">9410382000</bbd:LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities>
  <bbd:LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities contextRef="Context13" unitRef="Unit2" decimals="-3">8813581000</bbd:LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities>
  <bbd:LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities contextRef="Context2" unitRef="Unit3" decimals="3">0.025</bbd:LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities>
  <bbd:LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities contextRef="Context13" unitRef="Unit3" decimals="3">0.022</bbd:LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities>
  <bbd:LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity contextRef="Context2" unitRef="Unit2" decimals="-3">1322000</bbd:LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity>
  <bbd:LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity contextRef="Context13" unitRef="Unit2" decimals="-3">0</bbd:LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity>
  <bbd:LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity contextRef="Context2" unitRef="Unit3" decimals="2">0.00</bbd:LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity>
  <bbd:LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity contextRef="Context13" unitRef="Unit3" decimals="2">0.00</bbd:LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity>
<!-- ELement Id bbd_LoansAndAdvancesToCustomersOtherIndustries -->
  <bbd:LoansAndAdvancesToCustomersOtherIndustries contextRef="Context2" unitRef="Unit2" decimals="-3">265223000</bbd:LoansAndAdvancesToCustomersOtherIndustries>
  <bbd:LoansAndAdvancesToCustomersOtherIndustries contextRef="Context13" unitRef="Unit2" decimals="-3">0</bbd:LoansAndAdvancesToCustomersOtherIndustries>
  <bbd:LoansAndAdvancesToCustomersPercentageOtherIndustries contextRef="Context2" unitRef="Unit3" decimals="3">0.001</bbd:LoansAndAdvancesToCustomersPercentageOtherIndustries>
  <bbd:LoansAndAdvancesToCustomersPercentageOtherIndustries contextRef="Context13" unitRef="Unit3" decimals="2">0.00</bbd:LoansAndAdvancesToCustomersPercentageOtherIndustries>
  <bbd:LoansAndAdvancesToCustomersPrivateSector contextRef="Context2" unitRef="Unit2" decimals="-3">364136738000</bbd:LoansAndAdvancesToCustomersPrivateSector>
  <bbd:LoansAndAdvancesToCustomersPrivateSector contextRef="Context13" unitRef="Unit2" decimals="-3">383270292000</bbd:LoansAndAdvancesToCustomersPrivateSector>
  <bbd:LoansAndAdvancesToCustomersPercentagePrivateSector contextRef="Context2" unitRef="Unit3" decimals="3">0.974</bbd:LoansAndAdvancesToCustomersPercentagePrivateSector>
  <bbd:LoansAndAdvancesToCustomersPercentagePrivateSector contextRef="Context13" unitRef="Unit3" decimals="3">0.978</bbd:LoansAndAdvancesToCustomersPercentagePrivateSector>
  <bbd:LoansAndAdvancesToCustomersCompanies contextRef="Context2" unitRef="Unit2" decimals="-3">190148345000</bbd:LoansAndAdvancesToCustomersCompanies>
  <bbd:LoansAndAdvancesToCustomersCompanies contextRef="Context13" unitRef="Unit2" decimals="-3">212344421000</bbd:LoansAndAdvancesToCustomersCompanies>
  <bbd:LoansAndAdvancesToCustomersPercentageCompanies contextRef="Context2" unitRef="Unit3" decimals="3">0.509</bbd:LoansAndAdvancesToCustomersPercentageCompanies>
  <bbd:LoansAndAdvancesToCustomersPercentageCompanies contextRef="Context13" unitRef="Unit3" decimals="3">0.542</bbd:LoansAndAdvancesToCustomersPercentageCompanies>
  <bbd:LoansAndAdvancesToCustomersRealEstateAndConstructionActivities contextRef="Context2" unitRef="Unit2" decimals="-3">29383442000</bbd:LoansAndAdvancesToCustomersRealEstateAndConstructionActivities>
  <bbd:LoansAndAdvancesToCustomersRealEstateAndConstructionActivities contextRef="Context13" unitRef="Unit2" decimals="-3">33888418000</bbd:LoansAndAdvancesToCustomersRealEstateAndConstructionActivities>
  <bbd:LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities contextRef="Context2" unitRef="Unit3" decimals="3">0.079</bbd:LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities>
  <bbd:LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities contextRef="Context13" unitRef="Unit3" decimals="3">0.086</bbd:LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities>
  <bbd:LoansAndAdvancesToCustomersRetail contextRef="Context2" unitRef="Unit2" decimals="-3">23935638000</bbd:LoansAndAdvancesToCustomersRetail>
  <bbd:LoansAndAdvancesToCustomersRetail contextRef="Context13" unitRef="Unit2" decimals="-3">25346471000</bbd:LoansAndAdvancesToCustomersRetail>
  <bbd:LoansAndAdvancesToCustomersPercentageRetail contextRef="Context2" unitRef="Unit3" decimals="3">0.064</bbd:LoansAndAdvancesToCustomersPercentageRetail>
  <bbd:LoansAndAdvancesToCustomersPercentageRetail contextRef="Context13" unitRef="Unit3" decimals="3">0.065</bbd:LoansAndAdvancesToCustomersPercentageRetail>
<!-- ELement Id bbd_LoansAndAdvancesToCustomersServices -->
  <bbd:LoansAndAdvancesToCustomersServices contextRef="Context2" unitRef="Unit2" decimals="-3">17996533000</bbd:LoansAndAdvancesToCustomersServices>
  <bbd:LoansAndAdvancesToCustomersServices contextRef="Context13" unitRef="Unit2" decimals="-3">18172147000</bbd:LoansAndAdvancesToCustomersServices>
  <bbd:LoansAndAdvancesToCustomersPercentageServices contextRef="Context2" unitRef="Unit3" decimals="3">0.048</bbd:LoansAndAdvancesToCustomersPercentageServices>
  <bbd:LoansAndAdvancesToCustomersPercentageServices contextRef="Context13" unitRef="Unit3" decimals="3">0.046</bbd:LoansAndAdvancesToCustomersPercentageServices>
  <bbd:LoansAndAdvancesToCustomersTransportationAndConcession contextRef="Context2" unitRef="Unit2" decimals="-3">14190284000</bbd:LoansAndAdvancesToCustomersTransportationAndConcession>
  <bbd:LoansAndAdvancesToCustomersTransportationAndConcession contextRef="Context13" unitRef="Unit2" decimals="-3">17044780000</bbd:LoansAndAdvancesToCustomersTransportationAndConcession>
  <bbd:LoansAndAdvancesToCustomersPercentageTransportationAndConcession contextRef="Context2" unitRef="Unit3" decimals="3">0.038</bbd:LoansAndAdvancesToCustomersPercentageTransportationAndConcession>
  <bbd:LoansAndAdvancesToCustomersPercentageTransportationAndConcession contextRef="Context13" unitRef="Unit3" decimals="3">0.043</bbd:LoansAndAdvancesToCustomersPercentageTransportationAndConcession>
  <bbd:LoansAndAdvancesToCustomersAutomotive contextRef="Context2" unitRef="Unit2" decimals="-3">10014454000</bbd:LoansAndAdvancesToCustomersAutomotive>
  <bbd:LoansAndAdvancesToCustomersAutomotive contextRef="Context13" unitRef="Unit2" decimals="-3">13148526000</bbd:LoansAndAdvancesToCustomersAutomotive>
  <bbd:LoansAndAdvancesToCustomersPercentageAutomotive contextRef="Context2" unitRef="Unit3" decimals="3">0.027</bbd:LoansAndAdvancesToCustomersPercentageAutomotive>
  <bbd:LoansAndAdvancesToCustomersPercentageAutomotive contextRef="Context13" unitRef="Unit3" decimals="3">0.034</bbd:LoansAndAdvancesToCustomersPercentageAutomotive>
  <bbd:LoansAndAdvancesToCustomersFoodProducts contextRef="Context2" unitRef="Unit2" decimals="-3">8866028000</bbd:LoansAndAdvancesToCustomersFoodProducts>
  <bbd:LoansAndAdvancesToCustomersFoodProducts contextRef="Context13" unitRef="Unit2" decimals="-3">10870635000</bbd:LoansAndAdvancesToCustomersFoodProducts>
  <bbd:LoansAndAdvancesToCustomersPercentageFoodProducts contextRef="Context2" unitRef="Unit3" decimals="3">0.024</bbd:LoansAndAdvancesToCustomersPercentageFoodProducts>
  <bbd:LoansAndAdvancesToCustomersPercentageFoodProducts contextRef="Context13" unitRef="Unit3" decimals="3">0.028</bbd:LoansAndAdvancesToCustomersPercentageFoodProducts>
  <bbd:LoansAndAdvancesToCustomersWholesale contextRef="Context2" unitRef="Unit2" decimals="-3">9045916000</bbd:LoansAndAdvancesToCustomersWholesale>
  <bbd:LoansAndAdvancesToCustomersWholesale contextRef="Context13" unitRef="Unit2" decimals="-3">10704646000</bbd:LoansAndAdvancesToCustomersWholesale>
  <bbd:LoansAndAdvancesToCustomersPercentageWholesale contextRef="Context2" unitRef="Unit3" decimals="3">0.024</bbd:LoansAndAdvancesToCustomersPercentageWholesale>
  <bbd:LoansAndAdvancesToCustomersPercentageWholesale contextRef="Context13" unitRef="Unit3" decimals="3">0.027</bbd:LoansAndAdvancesToCustomersPercentageWholesale>
<!-- ELement Id bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity -->
  <bbd:PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity contextRef="Context2" unitRef="Unit2" decimals="-3">7360804000</bbd:PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity contextRef="Context13" unitRef="Unit2" decimals="-3">8255265000</bbd:PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity contextRef="Context2" unitRef="Unit3" decimals="2">0.02</bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity contextRef="Context13" unitRef="Unit3" decimals="3">0.021</bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity>
  <bbd:LoansAndAdvancesToCustomersSiderurgyAndMetallurgy contextRef="Context2" unitRef="Unit2" decimals="-3">7001290000</bbd:LoansAndAdvancesToCustomersSiderurgyAndMetallurgy>
  <bbd:LoansAndAdvancesToCustomersSiderurgyAndMetallurgy contextRef="Context13" unitRef="Unit2" decimals="-3">7800237000</bbd:LoansAndAdvancesToCustomersSiderurgyAndMetallurgy>
  <bbd:LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy contextRef="Context2" unitRef="Unit3" decimals="3">0.019</bbd:LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy>
  <bbd:LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy contextRef="Context13" unitRef="Unit3" decimals="2">0.02</bbd:LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy>
  <bbd:LoansAndAdvancesToCustomersSugarAndAlcohol contextRef="Context2" unitRef="Unit2" decimals="-3">7042811000</bbd:LoansAndAdvancesToCustomersSugarAndAlcohol>
  <bbd:LoansAndAdvancesToCustomersSugarAndAlcohol contextRef="Context13" unitRef="Unit2" decimals="-3">7514693000</bbd:LoansAndAdvancesToCustomersSugarAndAlcohol>
  <bbd:LoansAndAdvancesToCustomersPercentageSugarAndAlcohol contextRef="Context2" unitRef="Unit3" decimals="3">0.019</bbd:LoansAndAdvancesToCustomersPercentageSugarAndAlcohol>
  <bbd:LoansAndAdvancesToCustomersPercentageSugarAndAlcohol contextRef="Context13" unitRef="Unit3" decimals="3">0.019</bbd:LoansAndAdvancesToCustomersPercentageSugarAndAlcohol>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersOtherIndustries contextRef="Context2" unitRef="Unit2" decimals="-3">55311145000</bbd:PrivateSectorLoansAndAdvancesToCustomersOtherIndustries>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersOtherIndustries contextRef="Context13" unitRef="Unit2" decimals="-3">59598603000</bbd:PrivateSectorLoansAndAdvancesToCustomersOtherIndustries>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries contextRef="Context2" unitRef="Unit3" decimals="3">0.148</bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries>
  <bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries contextRef="Context13" unitRef="Unit3" decimals="3">0.152</bbd:PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries>
  <bbd:LoansAndAdvancesToCustomersIndividuals contextRef="Context2" unitRef="Unit2" decimals="-3">173988393000</bbd:LoansAndAdvancesToCustomersIndividuals>
  <bbd:LoansAndAdvancesToCustomersIndividuals contextRef="Context13" unitRef="Unit2" decimals="-3">170925871000</bbd:LoansAndAdvancesToCustomersIndividuals>
  <bbd:LoansAndAdvancesToCustomersPercentageIndividuals contextRef="Context2" unitRef="Unit3" decimals="3">0.465</bbd:LoansAndAdvancesToCustomersPercentageIndividuals>
  <bbd:LoansAndAdvancesToCustomersPercentageIndividuals contextRef="Context13" unitRef="Unit3" decimals="3">0.436</bbd:LoansAndAdvancesToCustomersPercentageIndividuals>
<!-- ELement Id bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio -->
  <bbd:LoansAndAdvancesToCustomersPercentageTotalPortfolio contextRef="Context2" unitRef="Unit3" decimals="3">1.000</bbd:LoansAndAdvancesToCustomersPercentageTotalPortfolio>
  <bbd:LoansAndAdvancesToCustomersPercentageTotalPortfolio contextRef="Context13" unitRef="Unit3" decimals="3">1.000</bbd:LoansAndAdvancesToCustomersPercentageTotalPortfolio>
  <ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context235" unitRef="Unit2" decimals="-3">123691195000</ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context236" unitRef="Unit2" decimals="-3">13866885000</ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context239" unitRef="Unit2" decimals="-3">84728590000</ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context240" unitRef="Unit2" decimals="-3">16755442000</ifrs-full:GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets contextRef="Context235" unitRef="Unit2" decimals="-3">0</ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets>
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  <ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context235" unitRef="Unit2" decimals="-3">123691195000</ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
  <ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context236" unitRef="Unit2" decimals="-3">13866885000</ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
  <ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context239" unitRef="Unit2" decimals="-3">84728590000</ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
  <ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context240" unitRef="Unit2" decimals="-3">16755442000</ifrs-full:NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
  <ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context237" unitRef="Unit2" decimals="-3">233467544000</ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context238" unitRef="Unit2" decimals="-3">14274999000</ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context241" unitRef="Unit2" decimals="-3">241978931000</ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements contextRef="Context242" unitRef="Unit2" decimals="-3">13435678000</ifrs-full:GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements>
  <ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities contextRef="Context237" unitRef="Unit2" decimals="-3">0</ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities>
  <ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities contextRef="Context238" unitRef="Unit2" decimals="-3">0</ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities>
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  <ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities contextRef="Context242" unitRef="Unit2" decimals="-3">0</ifrs-full:FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities>
  <ifrs-full:NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context237" unitRef="Unit2" decimals="-3">233467544000</ifrs-full:NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
  <ifrs-full:NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition contextRef="Context238" unitRef="Unit2" decimals="-3">14274999000</ifrs-full:NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition>
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  <ifrs-full:ValueAtRisk contextRef="Context335" unitRef="Unit2" decimals="-3">369342000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context336" unitRef="Unit2" decimals="-3">236895000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context337" unitRef="Unit2" decimals="-3">131105000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context338" unitRef="Unit2" decimals="-3">247814000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context339" unitRef="Unit2" decimals="-3">103949000</ifrs-full:ValueAtRisk>
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  <ifrs-full:ValueAtRisk contextRef="Context359" unitRef="Unit2" decimals="-3" id="Fact96">-359000</ifrs-full:ValueAtRisk>
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  <ifrs-full:ValueAtRisk contextRef="Context369" unitRef="Unit2" decimals="-3" id="Fact101">-568367000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context360">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context362">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context364">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context366">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context368">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context370">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context371" unitRef="Unit2" decimals="-3" id="Fact102">-147000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context373" unitRef="Unit2" decimals="-3" id="Fact103">-17576000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context375" unitRef="Unit2" decimals="-3" id="Fact104">-33298000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context377" unitRef="Unit2" decimals="-3" id="Fact105">-26000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context379" unitRef="Unit2" decimals="-3" id="Fact106">-3723000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context381" unitRef="Unit2" decimals="-3" id="Fact107">-7174000</ifrs-full:ValueAtRisk>
<!-- ELement Id ifrs-full_DescriptionOfExposureToRisk -->
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context372">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context374">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context376">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context378">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context380">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context382">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context383" unitRef="Unit2" decimals="-3" id="Fact108">-9000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context385" unitRef="Unit2" decimals="-3" id="Fact109">-420000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context387" unitRef="Unit2" decimals="-3" id="Fact110">-839000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context389" unitRef="Unit2" decimals="-3" id="Fact111">-2000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context391" unitRef="Unit2" decimals="-3" id="Fact112">-224000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context393" unitRef="Unit2" decimals="-3" id="Fact113">-437000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context384">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context386">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context388">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context390">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context392">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context394">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context395" unitRef="Unit2" decimals="-3" id="Fact114">-1629000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context397" unitRef="Unit2" decimals="-3" id="Fact115">-40736000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context399" unitRef="Unit2" decimals="-3" id="Fact116">-81473000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context401" unitRef="Unit2" decimals="-3" id="Fact117">-106000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context403" unitRef="Unit2" decimals="-3" id="Fact118">-2649000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context405" unitRef="Unit2" decimals="-3" id="Fact119">-5297000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context396">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context398">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context400">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context402">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context404">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context406">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context407" unitRef="Unit2" decimals="-3" id="Fact120">-1215000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context409" unitRef="Unit2" decimals="-3" id="Fact121">-30378000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context411" unitRef="Unit2" decimals="-3" id="Fact122">-60757000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context413" unitRef="Unit2" decimals="-3" id="Fact123">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context415" unitRef="Unit2" decimals="-3" id="Fact124">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context417" unitRef="Unit2" decimals="-3" id="Fact125">0</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context408">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context410">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context412">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context414">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context416">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context418">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context419" unitRef="Unit2" decimals="-3" id="Fact126">-2469000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context421" unitRef="Unit2" decimals="-3" id="Fact127">-61730000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context423" unitRef="Unit2" decimals="-3" id="Fact128">-123461000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context425" unitRef="Unit2" decimals="-3" id="Fact129">-1464000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context427" unitRef="Unit2" decimals="-3" id="Fact130">-11649000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context429" unitRef="Unit2" decimals="-3" id="Fact131">-24751000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context420">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context422">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context424">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context426">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context428">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context430">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context431" unitRef="Unit2" decimals="-3" id="Fact132">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context433" unitRef="Unit2" decimals="-3" id="Fact133">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context435" unitRef="Unit2" decimals="-3" id="Fact134">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context437" unitRef="Unit2" decimals="-3" id="Fact135">0</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context439" unitRef="Unit2" decimals="-3" id="Fact136">-19000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context441" unitRef="Unit2" decimals="-3" id="Fact137">-39000</ifrs-full:ValueAtRisk>
<!-- ELement Id ifrs-full_DescriptionOfExposureToRisk -->
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context432">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context434">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context436">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context438">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context440">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context442">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context443" unitRef="Unit2" decimals="-3" id="Fact138">-5828000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context445" unitRef="Unit2" decimals="-3" id="Fact139">-212337000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context447" unitRef="Unit2" decimals="-3" id="Fact140">-420213000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context449" unitRef="Unit2" decimals="-3" id="Fact141">-2672000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context451" unitRef="Unit2" decimals="-3" id="Fact142">-311614000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context453" unitRef="Unit2" decimals="-3" id="Fact143">-606065000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context455" unitRef="Unit2" decimals="-3" id="Fact144">-3448000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context457" unitRef="Unit2" decimals="-3" id="Fact145">-131662000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context459" unitRef="Unit2" decimals="-3" id="Fact146">-259684000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context461" unitRef="Unit2" decimals="-3" id="Fact147">-2058000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context463" unitRef="Unit2" decimals="-3" id="Fact148">-295900000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context465" unitRef="Unit2" decimals="-3" id="Fact149">-574058000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context479" unitRef="Unit2" decimals="-3" id="Fact150">-12579000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context481" unitRef="Unit2" decimals="-3" id="Fact151">-2339939000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context483" unitRef="Unit2" decimals="-3" id="Fact152">-4560181000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context485" unitRef="Unit2" decimals="-3" id="Fact153">-8994000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context487" unitRef="Unit2" decimals="-3" id="Fact154">-2466388000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context489" unitRef="Unit2" decimals="-3" id="Fact155">-4786687000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context480">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context482">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context484">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context486">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context488">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context490">Exposure subject to variations in fixed interest rates and interest rate coupons</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context491" unitRef="Unit2" decimals="-3" id="Fact156">-512000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context493" unitRef="Unit2" decimals="-3" id="Fact157">-56130000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context495" unitRef="Unit2" decimals="-3" id="Fact158">-107716000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context497" unitRef="Unit2" decimals="-3" id="Fact159">-9255000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context499" unitRef="Unit2" decimals="-3" id="Fact160">-1224208000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context501" unitRef="Unit2" decimals="-3" id="Fact161">-2264187000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context492">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context494">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context496">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context498">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context500">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context502">Exposure subject to variations in price index coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context503" unitRef="Unit2" decimals="-3" id="Fact162">-1575000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context505" unitRef="Unit2" decimals="-3" id="Fact163">-80110000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context507" unitRef="Unit2" decimals="-3" id="Fact164">-158548000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context509" unitRef="Unit2" decimals="-3" id="Fact165">-455000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context511" unitRef="Unit2" decimals="-3" id="Fact166">-49446000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context513" unitRef="Unit2" decimals="-3" id="Fact167">-93726000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context504">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context506">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context508">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context510">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context512">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context514">Exposure subject to variations in foreign currency coupon rates</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context515" unitRef="Unit2" decimals="-3" id="Fact168">-600000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context517" unitRef="Unit2" decimals="-3" id="Fact169">-15004000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context519" unitRef="Unit2" decimals="-3" id="Fact170">-30008000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context521" unitRef="Unit2" decimals="-3" id="Fact171">-867000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context523" unitRef="Unit2" decimals="-3" id="Fact172">-21663000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context525" unitRef="Unit2" decimals="-3" id="Fact173">-43327000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context516">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context518">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context520">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context522">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context524">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context526">Exposure subject to exchange rate variations</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context527" unitRef="Unit2" decimals="-3" id="Fact174">-16289000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context529" unitRef="Unit2" decimals="-3" id="Fact175">-407237000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context531" unitRef="Unit2" decimals="-3" id="Fact176">-814475000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context533" unitRef="Unit2" decimals="-3" id="Fact177">-14817000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context535" unitRef="Unit2" decimals="-3" id="Fact178">-370420000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context537" unitRef="Unit2" decimals="-3" id="Fact179">-740841000</ifrs-full:ValueAtRisk>
<!-- ELement Id ifrs-full_DescriptionOfExposureToRisk -->
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context528">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context530">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context532">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context534">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context536">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context538">Exposure subject to variation in stock prices</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context539" unitRef="Unit2" decimals="-3" id="Fact180">-4978000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context541" unitRef="Unit2" decimals="-3" id="Fact181">-205764000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context543" unitRef="Unit2" decimals="-3" id="Fact182">-406054000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context545" unitRef="Unit2" decimals="-3" id="Fact183">-1786000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context547" unitRef="Unit2" decimals="-3" id="Fact184">-15940000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context549" unitRef="Unit2" decimals="-3" id="Fact185">-32801000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context540">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context542">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context544">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context546">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context548">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context550">Exposure subject to variations in the interest rate of securities traded on the international market</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context551" unitRef="Unit2" decimals="-3" id="Fact186">-12000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context553" unitRef="Unit2" decimals="-3" id="Fact187">-307000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context555" unitRef="Unit2" decimals="-3" id="Fact188">-613000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context557" unitRef="Unit2" decimals="-3" id="Fact189">-1000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context559" unitRef="Unit2" decimals="-3" id="Fact190">-28000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context561" unitRef="Unit2" decimals="-3" id="Fact191">-55000</ifrs-full:ValueAtRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context552">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context554">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context556">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context558">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context560">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:DescriptionOfExposureToRisk contextRef="Context562">Exposure not classified in other definitions</ifrs-full:DescriptionOfExposureToRisk>
  <ifrs-full:ValueAtRisk contextRef="Context563" unitRef="Unit2" decimals="-3" id="Fact192">-36545000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context565" unitRef="Unit2" decimals="-3" id="Fact193">-3104491000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context567" unitRef="Unit2" decimals="-3" id="Fact194">-6077595000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context569" unitRef="Unit2" decimals="-3" id="Fact195">-36175000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context571" unitRef="Unit2" decimals="-3" id="Fact196">-4148093000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context573" unitRef="Unit2" decimals="-3" id="Fact197">-7961624000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context575" unitRef="Unit2" decimals="-3" id="Fact198">-26956000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context577" unitRef="Unit2" decimals="-3" id="Fact199">-2678101000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context579" unitRef="Unit2" decimals="-3" id="Fact200">-5232466000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context581" unitRef="Unit2" decimals="-3" id="Fact201">-26893000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context583" unitRef="Unit2" decimals="-3" id="Fact202">-3691157000</ifrs-full:ValueAtRisk>
  <ifrs-full:ValueAtRisk contextRef="Context585" unitRef="Unit2" decimals="-3" id="Fact203">-7090253000</ifrs-full:ValueAtRisk>
  <bbd:Required contextRef="Context587" unitRef="Unit3" decimals="2">0.70</bbd:Required>
  <bbd:Required contextRef="Context588" unitRef="Unit3" decimals="2">0.80</bbd:Required>
  <bbd:Required contextRef="Context589" unitRef="Unit3" decimals="2">0.90</bbd:Required>
  <bbd:Required contextRef="Context590" unitRef="Unit3" decimals="2">1.00</bbd:Required>
  <bbd:TotalHighQualityLiquidAssetsHqla contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact204">125596242000</bbd:TotalHighQualityLiquidAssetsHqla>
  <bbd:TotalHighQualityLiquidAssetsHqla contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact205">146652484000</bbd:TotalHighQualityLiquidAssetsHqla>
  <bbd:RatailFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact206">210005411000</bbd:RatailFunding>
  <bbd:RatailFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact207">17749477000</bbd:RatailFunding>
  <bbd:RatailFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact208">227352566000</bbd:RatailFunding>
  <bbd:RatailFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact209">16702571000</bbd:RatailFunding>
  <bbd:StableFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact210">135661528000</bbd:StableFunding>
  <bbd:StableFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact211">6783076000</bbd:StableFunding>
  <bbd:StableFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact212">140847861000</bbd:StableFunding>
  <bbd:StableFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact213">4225436000</bbd:StableFunding>
<!-- ELement Id bbd_LessStableFunding -->
  <bbd:LessStableFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact214">74343883000</bbd:LessStableFunding>
  <bbd:LessStableFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact215">10966401000</bbd:LessStableFunding>
  <bbd:LessStableFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact216">86504705000</bbd:LessStableFunding>
  <bbd:LessStableFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact217">12477135000</bbd:LessStableFunding>
  <bbd:NoncollateralizedWholesaleFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact218">112474083000</bbd:NoncollateralizedWholesaleFunding>
  <bbd:NoncollateralizedWholesaleFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact219">50716519000</bbd:NoncollateralizedWholesaleFunding>
  <bbd:NoncollateralizedWholesaleFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact220">102652197000</bbd:NoncollateralizedWholesaleFunding>
  <bbd:NoncollateralizedWholesaleFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact221">49853687000</bbd:NoncollateralizedWholesaleFunding>
  <bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact222">8152936000</bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits>
  <bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact223">407647000</bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits>
  <bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact224">6226398000</bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits>
  <bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact225">192711000</bbd:OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits>
  <bbd:NonoperatingDepositsAllCounterparties contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact226">103275838000</bbd:NonoperatingDepositsAllCounterparties>
  <bbd:NonoperatingDepositsAllCounterparties contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact227">49263563000</bbd:NonoperatingDepositsAllCounterparties>
  <bbd:NonoperatingDepositsAllCounterparties contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact228">95809211000</bbd:NonoperatingDepositsAllCounterparties>
  <bbd:NonoperatingDepositsAllCounterparties contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact229">49044388000</bbd:NonoperatingDepositsAllCounterparties>
  <bbd:OtherNoncollateralizedWholesaleFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact230">1045309000</bbd:OtherNoncollateralizedWholesaleFunding>
  <bbd:OtherNoncollateralizedWholesaleFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact231">1045309000</bbd:OtherNoncollateralizedWholesaleFunding>
  <bbd:OtherNoncollateralizedWholesaleFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact232">616588000</bbd:OtherNoncollateralizedWholesaleFunding>
  <bbd:OtherNoncollateralizedWholesaleFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact233">616588000</bbd:OtherNoncollateralizedWholesaleFunding>
  <bbd:CollateralizedWholesaleFunding contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact234">0</bbd:CollateralizedWholesaleFunding>
  <bbd:CollateralizedWholesaleFunding contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact235">6656909000</bbd:CollateralizedWholesaleFunding>
  <bbd:CollateralizedWholesaleFunding contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact236">0</bbd:CollateralizedWholesaleFunding>
  <bbd:CollateralizedWholesaleFunding contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact237">5808725000</bbd:CollateralizedWholesaleFunding>
  <bbd:AdditionalRequirements contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact238">97751894000</bbd:AdditionalRequirements>
  <bbd:AdditionalRequirements contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact239">13746422000</bbd:AdditionalRequirements>
  <bbd:AdditionalRequirements contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact240">99952624000</bbd:AdditionalRequirements>
  <bbd:AdditionalRequirements contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact241">15328908000</bbd:AdditionalRequirements>
  <bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact242">15192265000</bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements>
  <bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact243">7089564000</bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements>
  <bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact244">16283688000</bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements>
  <bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact245">9017294000</bbd:RelatedToExposureToDerivativesAndOtherCollateralRequirements>
  <bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact246">345574000</bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments>
  <bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact247">345574000</bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments>
  <bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact248">33682000</bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments>
  <bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments contextRef="Context594" unitRef="Unit2" decimals="-3" id="Fact249">6332000</bbd:RelatedToFundingLossesThroughTheIssueOfDebtInstruments>
  <bbd:RelatedToLinesOfCreditAndLiquidity contextRef="Context591" unitRef="Unit2" decimals="-3" id="Fact250">82214055000</bbd:RelatedToLinesOfCreditAndLiquidity>
  <bbd:RelatedToLinesOfCreditAndLiquidity contextRef="Context592" unitRef="Unit2" decimals="-3" id="Fact251">6311284000</bbd:RelatedToLinesOfCreditAndLiquidity>
  <bbd:RelatedToLinesOfCreditAndLiquidity contextRef="Context593" unitRef="Unit2" decimals="-3" id="Fact252">83635254000</bbd:RelatedToLinesOfCreditAndLiquidity>
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<!-- ELement Id bbd_ValueAtRiskVar -->
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  <bbd:ValueAtRiskVar contextRef="Context731" unitRef="Unit3" decimals="2">0.99</bbd:ValueAtRiskVar>
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<!-- ELement Id bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso -->
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<!-- ELement Id bbd_FactorAppliedToPrudentialAdjustments -->
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  <ifrs-full:NameOfAssociate contextRef="Context1026" id="Fact553">Gestora de Intelig&#234;ncia de Cr&#233;dito S.A.</ifrs-full:NameOfAssociate>
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<!-- ELement Id bbd_AssociatesAndJointVenturesCurrentAssets -->
  <bbd:AssociatesAndJointVenturesCurrentAssets contextRef="Context1027" unitRef="Unit2" decimals="-3">118961000</bbd:AssociatesAndJointVenturesCurrentAssets>
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  <ifrs-full:NameOfAssociate contextRef="Context1034">Empresa Brasileira de Solda El&#233;trica S.A.</ifrs-full:NameOfAssociate>
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<!-- ELement Id ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates -->
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<!-- ELement Id bbd_AssociatesAndJointVenturesCurrentAssets -->
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<!-- ELement Id ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates -->
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<!-- ELement Id bbd_AssociatesAndJointVenturesNonCurrentAssets -->
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  <ifrs-full:NameOfJointVenture contextRef="Context1056" id="Fact561">Elo Participa&#231;&#245;es S.A.</ifrs-full:NameOfJointVenture>
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<!-- ELement Id bbd_AssociatesAndJointVenturesCurrentAssets -->
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<!-- ELement Id ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates -->
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  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2172" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2174" unitRef="Unit2" decimals="-3">2140849000</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2176" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2178" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2180" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2182" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2184" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2186" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2188" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2190" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2192" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2194" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests contextRef="Context2196" unitRef="Unit2" decimals="-3">0</ifrs-full:ProvisionsArisingFromLiabilityAdequacyTests>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1910" unitRef="Unit2" decimals="-3">2140849000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1912" unitRef="Unit2" decimals="-3">1020756000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1914" unitRef="Unit2" decimals="-3">1115707000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1916" unitRef="Unit2" decimals="-3">1189843000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1918" unitRef="Unit2" decimals="-3">1417352000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1920" unitRef="Unit2" decimals="-3">1459181000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1922" unitRef="Unit2" decimals="-3">1516747000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1924" unitRef="Unit2" decimals="-3">1495266000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1926" unitRef="Unit2" decimals="-3">1644051000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1928" unitRef="Unit2" decimals="-3">1755802000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1930" unitRef="Unit2" decimals="-3">1771294000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:ClaimsReportedByPolicyholders contextRef="Context1932" unitRef="Unit2" decimals="-3">16526848000</ifrs-full:ClaimsReportedByPolicyholders>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1911" unitRef="Unit2" decimals="-3">-2074102000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1913" unitRef="Unit2" decimals="-3">-1003673000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1915" unitRef="Unit2" decimals="-3">-1098409000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1917" unitRef="Unit2" decimals="-3">-1151732000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1919" unitRef="Unit2" decimals="-3">-1361271000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1921" unitRef="Unit2" decimals="-3">-1398760000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1923" unitRef="Unit2" decimals="-3">-1428669000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1925" unitRef="Unit2" decimals="-3">-1307155000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1927" unitRef="Unit2" decimals="-3">-1337199000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1929" unitRef="Unit2" decimals="-3">-1499651000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1931" unitRef="Unit2" decimals="-3">-1280837000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits contextRef="Context1933" unitRef="Unit2" decimals="-3">-14941458000</ifrs-full:PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1910" unitRef="Unit2" decimals="-3">66747000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1912" unitRef="Unit2" decimals="-3">17083000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1914" unitRef="Unit2" decimals="-3">17298000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1916" unitRef="Unit2" decimals="-3">38111000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1918" unitRef="Unit2" decimals="-3">56081000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1920" unitRef="Unit2" decimals="-3">60421000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1922" unitRef="Unit2" decimals="-3">88078000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1924" unitRef="Unit2" decimals="-3">188111000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1926" unitRef="Unit2" decimals="-3">306852000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1928" unitRef="Unit2" decimals="-3">256151000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1930" unitRef="Unit2" decimals="-3">490457000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:ClaimsIncurredButNotReported contextRef="Context1932" unitRef="Unit2" decimals="-3">1585390000</ifrs-full:ClaimsIncurredButNotReported>
  <ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued contextRef="Context2198" unitRef="Unit2" decimals="-3">2906361000</ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued>
  <ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued contextRef="Context2199" unitRef="Unit2" decimals="-3">86592000</ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued>
  <ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued contextRef="Context2200" unitRef="Unit2" decimals="-3">21722000</ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued>
  <ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued contextRef="Context2201" unitRef="Unit2" decimals="-3">-163923000</ifrs-full:OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued>
<!-- ELement Id ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits -->
  <ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits contextRef="Context2" unitRef="Unit2" decimals="-3">2323338000</ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits>
  <ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits contextRef="Context13" unitRef="Unit2" decimals="-3">2141393000</ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits>
  <ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits contextRef="Context56" unitRef="Unit2" decimals="-3">1162005000</ifrs-full:LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits>
  <bbd:ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution contextRef="Context1" unitRef="Unit2" decimals="-3">0</bbd:ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution>
  <bbd:ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution contextRef="Context7" unitRef="Unit2" decimals="-3">761119000</bbd:ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="Context1" unitRef="Unit2" decimals="-3">186000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset contextRef="Context7" unitRef="Unit2" decimals="-3">-1077000</ifrs-full:CurrentServiceCostNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="Context1" unitRef="Unit2" decimals="-3">227980000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="Context7" unitRef="Unit2" decimals="-3">181595000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset contextRef="Context1" unitRef="Unit2" decimals="-3">1197000</ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset contextRef="Context7" unitRef="Unit2" decimals="-3">2831000</ifrs-full:ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="Context1" unitRef="Unit2" decimals="-3">144624000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset contextRef="Context7" unitRef="Unit2" decimals="-3">182762000</ifrs-full:ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset>
  <bbd:ProjectedBenefitObligationsBenefitPaid contextRef="Context1" unitRef="Unit2" decimals="-3">-192042000</bbd:ProjectedBenefitObligationsBenefitPaid>
  <bbd:ProjectedBenefitObligationsBenefitPaid contextRef="Context7" unitRef="Unit2" decimals="-3">-147842000</bbd:ProjectedBenefitObligationsBenefitPaid>
  <ifrs-full:AssetsLiabilitiesOfBenefitPlan contextRef="Context2" unitRef="Unit2" decimals="-3">2375529000</ifrs-full:AssetsLiabilitiesOfBenefitPlan>
  <ifrs-full:AssetsLiabilitiesOfBenefitPlan contextRef="Context13" unitRef="Unit2" decimals="-3">2127872000</ifrs-full:AssetsLiabilitiesOfBenefitPlan>
  <ifrs-full:AssetsLiabilitiesOfBenefitPlan contextRef="Context56" unitRef="Unit2" decimals="-3">1047782000</ifrs-full:AssetsLiabilitiesOfBenefitPlan>
  <bbd:PlanAssetsCompriseBalanceFromAnAcquiredInstitution contextRef="Context1" unitRef="Unit2" decimals="-3">0</bbd:PlanAssetsCompriseBalanceFromAnAcquiredInstitution>
  <bbd:PlanAssetsCompriseBalanceFromAnAcquiredInstitution contextRef="Context7" unitRef="Unit2" decimals="-3">883858000</bbd:PlanAssetsCompriseBalanceFromAnAcquiredInstitution>
  <bbd:PlanAssetsCompriseExpectedEarnings contextRef="Context1" unitRef="Unit2" decimals="-3">423546000</bbd:PlanAssetsCompriseExpectedEarnings>
  <bbd:PlanAssetsCompriseExpectedEarnings contextRef="Context7" unitRef="Unit2" decimals="-3">307728000</bbd:PlanAssetsCompriseExpectedEarnings>
<!-- ELement Id ifrs-full_EmployerContributions -->
  <ifrs-full:EmployerContributions contextRef="Context1" unitRef="Unit2" decimals="-3">14957000</ifrs-full:EmployerContributions>
  <ifrs-full:EmployerContributions contextRef="Context7" unitRef="Unit2" decimals="-3">33515000</ifrs-full:EmployerContributions>
  <ifrs-full:EmployeeContributions contextRef="Context1" unitRef="Unit2" decimals="-3">1197000</ifrs-full:EmployeeContributions>
  <ifrs-full:EmployeeContributions contextRef="Context7" unitRef="Unit2" decimals="-3">2831000</ifrs-full:EmployeeContributions>
  <ifrs-full:BenefitsPaidOrPayable contextRef="Context1" unitRef="Unit2" decimals="-3">-192043000</ifrs-full:BenefitsPaidOrPayable>
  <ifrs-full:BenefitsPaidOrPayable contextRef="Context7" unitRef="Unit2" decimals="-3">-147842000</ifrs-full:BenefitsPaidOrPayable>
  <bbd:PlansInDeficit contextRef="Context2" unitRef="Unit2" decimals="-3">-149571000</bbd:PlansInDeficit>
  <bbd:PlansInDeficit contextRef="Context13" unitRef="Unit2" decimals="-3">-130293000</bbd:PlansInDeficit>
  <bbd:PlansInSurplus contextRef="Context2" unitRef="Unit2" decimals="-3">201762000</bbd:PlansInSurplus>
  <bbd:PlansInSurplus contextRef="Context13" unitRef="Unit2" decimals="-3">116772000</bbd:PlansInSurplus>
  <ifrs-full:SurplusDeficitInPlan contextRef="Context2" unitRef="Unit2" decimals="-3">52191000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:SurplusDeficitInPlan contextRef="Context13" unitRef="Unit2" decimals="-3">-13521000</ifrs-full:SurplusDeficitInPlan>
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  <ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset contextRef="Context8" unitRef="Unit2" decimals="-3">133385000</ifrs-full:InterestExpenseIncomeNetDefinedBenefitLiabilityAsset>
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  <bbd:ExpectedEarningsFromTheAssetsOfThePlan contextRef="Context7" unitRef="Unit2" decimals="-3">-174937000</bbd:ExpectedEarningsFromTheAssetsOfThePlan>
  <bbd:ExpectedEarningsFromTheAssetsOfThePlan contextRef="Context8" unitRef="Unit2" decimals="-3">-120960000</bbd:ExpectedEarningsFromTheAssetsOfThePlan>
  <bbd:NetCostbenefitOfThePensionPlans contextRef="Context1" unitRef="Unit2" decimals="-3">806000</bbd:NetCostbenefitOfThePensionPlans>
  <bbd:NetCostbenefitOfThePensionPlans contextRef="Context7" unitRef="Unit2" decimals="-3">5581000</bbd:NetCostbenefitOfThePensionPlans>
  <bbd:NetCostbenefitOfThePensionPlans contextRef="Context8" unitRef="Unit2" decimals="-3">11846000</bbd:NetCostbenefitOfThePensionPlans>
<!-- ELement Id bbd_DiscountRate -->
  <bbd:DiscountRate contextRef="Context1" id="Fact751">8.5% - 10% p.a.</bbd:DiscountRate>
  <bbd:DiscountRate contextRef="Context7" id="Fact752">11.1% p.a.</bbd:DiscountRate>
  <bbd:ExpectedLongtermRateOfReturnOnTheAssets contextRef="Context1">8.5% - 10% p.a.</bbd:ExpectedLongtermRateOfReturnOnTheAssets>
  <bbd:ExpectedLongtermRateOfReturnOnTheAssets contextRef="Context7">11.1% p.a.</bbd:ExpectedLongtermRateOfReturnOnTheAssets>
  <bbd:IncreaseInSalaryLevels contextRef="Context1">4.3% p.a.</bbd:IncreaseInSalaryLevels>
  <bbd:IncreaseInSalaryLevels contextRef="Context7">4.8% p.a.</bbd:IncreaseInSalaryLevels>
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  <bbd:AssetCategoriesEquities contextRef="Context2203" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesEquities>
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  <bbd:AssetCategoriesEquities contextRef="Context2205" unitRef="Unit3" decimals="3">0.039</bbd:AssetCategoriesEquities>
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  <bbd:AssetCategoriesEquities contextRef="Context2207" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesEquities>
  <bbd:AssetCategoriesEquities contextRef="Context2208" unitRef="Unit3" decimals="4">0.1730</bbd:AssetCategoriesEquities>
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  <bbd:AssetCategoriesFixedIncome contextRef="Context2209" unitRef="Unit3" decimals="3">0.812</bbd:AssetCategoriesFixedIncome>
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  <bbd:AssetCategoriesProperties contextRef="Context2203" unitRef="Unit3" decimals="3">0.053</bbd:AssetCategoriesProperties>
  <bbd:AssetCategoriesProperties contextRef="Context2204" unitRef="Unit3" decimals="4">0.0260</bbd:AssetCategoriesProperties>
  <bbd:AssetCategoriesProperties contextRef="Context2205" unitRef="Unit3" decimals="3">0.027</bbd:AssetCategoriesProperties>
  <bbd:AssetCategoriesProperties contextRef="Context2206" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesProperties>
  <bbd:AssetCategoriesProperties contextRef="Context2207" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesProperties>
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  <bbd:AssetCategoriesProperties contextRef="Context2209" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesProperties>
  <bbd:AssetCategoriesOther contextRef="Context2202" unitRef="Unit3" decimals="4">0.0160</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2203" unitRef="Unit3" decimals="3">0.016</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2204" unitRef="Unit3" decimals="4">0.0210</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2205" unitRef="Unit3" decimals="3">0.021</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2206" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2207" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2208" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesOther contextRef="Context2209" unitRef="Unit3" decimals="2">0.00</bbd:AssetCategoriesOther>
  <bbd:AssetCategoriesTotal contextRef="Context2202" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2203" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2204" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2205" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2206" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2207" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2208" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:AssetCategoriesTotal contextRef="Context2209" unitRef="Unit3" decimals="3">1.000</bbd:AssetCategoriesTotal>
  <bbd:DiscountRate contextRef="Context2210">9.5% - 11.0% p.a.</bbd:DiscountRate>
  <bbd:DiscountRate contextRef="Context2211">9.5% - 11.0% p.a.</bbd:DiscountRate>
  <ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis contextRef="Context2210">reduction</ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis>
  <ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis contextRef="Context2211">increase</ifrs-full:MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis>
<!-- ELement Id bbd_EffectOnThePresentValueOfTheObligations -->
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  <bbd:EstimatedExposureToCreditRisk contextRef="Context2330" unitRef="Unit2" decimals="-6">51853000000</bbd:EstimatedExposureToCreditRisk>
  <bbd:EstimatedExposureToCreditRisk contextRef="Context2331" unitRef="Unit2" decimals="-6">37277000000</bbd:EstimatedExposureToCreditRisk>
  <bbd:EstimatedExposureToCreditRisk contextRef="Context2332" unitRef="Unit2" decimals="-6">521546000000</bbd:EstimatedExposureToCreditRisk>
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  <bbd:ExpectedLoss contextRef="Context2330" unitRef="Unit2" decimals="-6">7581000000</bbd:ExpectedLoss>
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  <bbd:ControlOfTheCompanyWillBeSharedCapital contextRef="Context2" unitRef="Unit3" decimals="2">0.20</bbd:ControlOfTheCompanyWillBeSharedCapital>
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  <bbd:RevenuesEarnedInvestmentFundsManagedByOrganization contextRef="Context2335" unitRef="Unit2" decimals="0">1079653000</bbd:RevenuesEarnedInvestmentFundsManagedByOrganization>
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  <ifrs-full:PortfolioAndOtherManagementFeeIncome contextRef="Context2337" unitRef="Unit2" decimals="0">71075119000</ifrs-full:PortfolioAndOtherManagementFeeIncome>
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  <bbd:EquityStake contextRef="Context2338" unitRef="Unit3" decimals="2">0.40</bbd:EquityStake>
  <bbd:EquityStake contextRef="Context2339" unitRef="Unit3" decimals="2">0.60</bbd:EquityStake>
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  <!-- Footnote Section -->
  <link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote1_lbl">In 2017, consists, basically of unrealized net gains/losses of marketable securities, classified as available for sale (Notes 21 and 23), whose accumulated effect net of taxes amounts to R$ (1,070,252) thousand (December 2016 - R$ 154,958 thousand);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote2_lbl">At Special Shareholders' Meeting held on March 10, 2015, the shareholders deliberated the increase of Capital stock by R$ 5,000,000 thousand, from R$ 38,100,000 thousand to R$ 43,100,000 thousand, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with bonus of 20% in shares, with issuance of 841,454,808 new registered shares, without par value, of which 420,727,426 are common and 420,727,382 are preferred shares. These shares are granted to the shareholders, free of charge, as bonus, at the proportion of two (2) new share to each ten (10) shares of the same type held by them, which benefits the shareholders enrolled in the records of Bradesco on March 26, 2015;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote3_lbl">At Special Shareholders' Meeting held on March 10, 2016, the shareholders approved the Board of Directors' proposal to increase the capital by R$ 8,000,000 thousand, from R$ 43,100,000 thousand to R$ 51,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with issuance of 504,872,885 new registered shares, without par value, of which 252,436,456 are common and 252,436,429 are preferred shares, which will be granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote4_lbl">At Special Shareholders' Meeting held on March 10, 2017, the shareholders approved the Board of Directors' proposal to increase the capital by R$ 8,000,000 thousand, from R$ 51,100,000 thousand to R$ 59,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with issuance of 555,360,173 new registered shares, without par value, of which 277,680,101 are common and 277,680,072 are preferred, which were granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote5_lbl">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote6_lbl">Includes the IOF collection, and withholding Income Tax; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote7_lbl">Includes the results from changes to the fair value of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position hired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote8_lbl">In November, 2017, Banco Boavista Interatl&amp;#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote9_lbl">In May 2017, Kirton Administradora de Cons&amp;#243;rcios Ltda. was merged into Bradesco Administradora de Cons&amp;#243;rcios Ltda.;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote10_lbl">Increase in interest, by means of acquisition of shares held by minority shareholders;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote11_lbl">Increase in interest by means of subscription of shares in July 2017; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote12_lbl">Company merged into Kirton Seguros S.A., in July 2017.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote13_lbl">Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote14_lbl">Values net of taxes.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote15_lbl">Calculated based on the simple daily average of the months that compose the quarter (61 observations);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote16_lbl">Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote17_lbl">Corresponds to the total balance related to the item of cash inflows or outflows;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote18_lbl">Corresponds to the value after application of the weighting factors; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote19_lbl">Corresponds to the calculated value after the application of weighting factors and limits.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote20_lbl">Include, mainly, credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote21_lbl">Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote22_lbl">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote23_lbl">Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote24_lbl">Amounts of loans and receivables are presented net of the provision for impairment losses.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote25_lbl">As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of CMN Resolution no 4,192/13; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote26_lbl">Margin = Minimum (PR &amp;#8211; PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote27_lbl">For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote28_lbl">In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote29_lbl">Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote30_lbl">Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote31_lbl">Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$ (484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote32_lbl">Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law no 13,169/15; and (iii) of 9% for the other companies (Note 2w);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote33_lbl">In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law no 13,169/15; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote34_lbl">Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote35_lbl">HSBC Brasil (Note 2a);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote36_lbl">Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote37_lbl">Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote38_lbl">Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote39_lbl">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors' Meeting of March 10, 2017, in the proportion of one new share for every 10 shares held.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote40_lbl">Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote41_lbl">Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 - R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 - R$ 81,983,717 thousand) as Loans and advances to banks.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote42_lbl">In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$ 557,974 thousand (2016 - R$ 1,443,642 thousand); and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote43_lbl">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold in a separate repurchase agreement.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote44_lbl">Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote45_lbl">Revenues from financial intermediation or services;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote46_lbl">Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote47_lbl">Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote48_lbl">Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote49_lbl">Partial spin-off in October, 2015;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote50_lbl">Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&amp;#231;&amp;#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote51_lbl">In January 2016, Aquarius Participa&amp;#231;&amp;#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&amp;#231;os S.A.;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote52_lbl">In April 2016, it was consolidated after acquisition of 50% of the company;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote53_lbl">In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE - Empresa Brasileira de Solda Eletrica S.A.); and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote54_lbl">Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participacoes S.A. presented R$ 8,109 thousand of other comprehensive income.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote55_lbl">In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Inteligencia de Credito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cartoes de Credito);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote56_lbl">Disposal partial sale of the IRB (Note 43-6);</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote57_lbl">In 2016, the investment of Cia. Leader S.A. Administradora de Cartoes de Credito began to be consolidated after acquisition of 50% of the company; and </link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote58_lbl">In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote59_lbl">Includes financial lease of data processing systems; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote60_lbl">HSBC Brasil.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote61_lbl">Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%; </link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote62_lbl">HSBC Brasil; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote63_lbl">Impairment losses were recognized in the consolidated statement of income, within 'Other operating income/(expenses)'.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote64_lbl">Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution's domestic currency, resulting from exchange sale operations;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote65_lbl">Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote66_lbl">Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote67_lbl">Financial assets are recorded at amortized cost.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote68_lbl">Issuance of securities in the foreign market to fund customers foreign exchange operations, export pre-financing, import financing and working capital financing, substantially in the medium and long terms.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote69_lbl">Subordinated debt transactions that matured in 2017; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote70_lbl">New issuances of financial bills in 2017, referring to subordinated debt.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote71_lbl">'Other technical provisions' - Insurance basically refers to the technical provisions of the 'personal health' portfolio; </link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote72_lbl">Includes personal insurance and pension plans; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote73_lbl">'Other technical provisions' - Life and Pension Plan mainly includes the 'Reserve for redemption and other amounts to be settled', 'Reserve for related expenses'</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote74_lbl">Includes personal and pension insurance operations.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote75_lbl">Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote76_lbl">The investment funds 'VGBL' and 'PGBL' were consolidated in the financial statements.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote77_lbl">Includes the transfer of part of the operation of the large risk portfolio (Note 43).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote78_lbl">In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote79_lbl">Mainly include legal liabilities;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote80_lbl">In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Saude subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote81_lbl">Refers to amounts payable to merchants;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote82_lbl">Mainly refers to the institution's sales in foreign currency to customers and its right's in domestic currency, resulting from exchange sale operations; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote83_lbl">Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote84_lbl">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors' Meeting of March 10, 2017 in proportion of one new share for every 10 shares held.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote85_lbl">Cidade de Deus Cia. Cial. de Participacoes, Fundacao Bradesco, NCF Participacoes S.A., Titanium Holdings S.A., BBD Participacoes S.A. and Nova Cidade de Deus Participacoes S.A.;</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote86_lbl">Companies listed in Note 2; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote87_lbl">Members of the Board of Directors and the Board of Executive Officers.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote88_lbl">In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote89_lbl">Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote90_lbl">Refers to guarantees mostly provided for Corporate customers.</link:footnote>
    <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en" xlink:label="Footnote91_lbl">Includes commitments and financial guarantees provided</link:footnote>
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        <link:definition>04030 - Disclosure - Deposits from banks</link:definition>
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        <link:definition>04031 - Disclosure - Deposits from customers</link:definition>
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        <link:definition>04032 - Disclosure - Funds from securities issued</link:definition>
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        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes39" id="Notes39">
        <link:definition>04033 - Disclosure - Subordinated debt</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes40" id="Notes40">
        <link:definition>04034 - Disclosure - Insurance technical provisions and pension plans</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes41" id="Notes41">
        <link:definition>04035 - Disclosure - Supplemental pension plans</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes42" id="Notes42">
        <link:definition>04036 - Disclosure - Provisions, contingent liabilities and contingent assets</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes43" id="Notes43">
        <link:definition>04037 - Disclosure - Other liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes44" id="Notes44">
        <link:definition>04038 - Disclosure - Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes45" id="Notes45">
        <link:definition>04039 - Disclosure - Transactions with related parties</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes46" id="Notes46">
        <link:definition>04040 - Disclosure - Off-balance sheet commitments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes47" id="Notes47">
        <link:definition>04041 - Disclosure - New standards and amendments and interpretations of existing standards</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes48" id="Notes48">
        <link:definition>04042 - Disclosure - Other information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes49" id="Notes49">
        <link:definition>04043 - Disclosure - Subsequent events</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Notes50" id="Notes50">
        <link:definition>04044 - Disclosure - Risk Management</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/Policies51" id="Policies51">
        <link:definition>04045 - Disclosure - Significant Accounting Policies (Policies)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables52" id="NotesTables52">
        <link:definition>04046 - Disclosure - Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables53" id="NotesTables53">
        <link:definition>04047 - Disclosure - Risk Management (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables54" id="NotesTables54">
        <link:definition>04048 - Disclosure - Operating segments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables55" id="NotesTables55">
        <link:definition>04049 - Disclosure - Net interest income (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables56" id="NotesTables56">
        <link:definition>04050 - Disclosure - Net fee and commission income (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables57" id="NotesTables57">
        <link:definition>04051 - Disclosure - Net gains/(losses) on financial instruments classified as held for trading (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables58" id="NotesTables58">
        <link:definition>04052 - Disclosure - Net gains/(losses) on financial instruments classified as available for sale (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables59" id="NotesTables59">
        <link:definition>04053 - Disclosure - Net income from insurance and pension plans (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables60" id="NotesTables60">
        <link:definition>04054 - Disclosure - Impairment of loans and advances (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables61" id="NotesTables61">
        <link:definition>04055 - Disclosure - Personnel expenses (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables62" id="NotesTables62">
        <link:definition>04056 - Disclosure - Other administrative expenses (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables63" id="NotesTables63">
        <link:definition>04057 - Disclosure - Depreciation and amortization (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables64" id="NotesTables64">
        <link:definition>04058 - Disclosure - Other operating income/(expenses) (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables65" id="NotesTables65">
        <link:definition>04059 - Disclosure - Income tax and social contribution (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables66" id="NotesTables66">
        <link:definition>04060 - Disclosure - Earnings per share (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables67" id="NotesTables67">
        <link:definition>04061 - Disclosure - Cash and cash equivalents (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables68" id="NotesTables68">
        <link:definition>04062 - Disclosure - Financial assets and liabilities held for trading (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables69" id="NotesTables69">
        <link:definition>04063 - Disclosure - Financial assets available for sale (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables70" id="NotesTables70">
        <link:definition>04064 - Disclosure - Investments held to maturity (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables71" id="NotesTables71">
        <link:definition>04065 - Disclosure - Financial assets pledged as collateral (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables72" id="NotesTables72">
        <link:definition>04066 - Disclosure - Loans and advances to banks (Tables)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables73" id="NotesTables73">
        <link:definition>04067 - Disclosure - Loans and advances to customers (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables74" id="NotesTables74">
        <link:definition>04068 - Disclosure - Non-current assets held for sale (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables75" id="NotesTables75">
        <link:definition>04069 - Disclosure - Investments in associates and joint ventures (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables76" id="NotesTables76">
        <link:definition>04070 - Disclosure - Property and equipment (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables77" id="NotesTables77">
        <link:definition>04071 - Disclosure - Intangible assets and goodwill (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables78" id="NotesTables78">
        <link:definition>04072 - Disclosure - Other assets (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables79" id="NotesTables79">
        <link:definition>04073 - Disclosure - Deposits from banks (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables80" id="NotesTables80">
        <link:definition>04074 - Disclosure - Deposits from customers (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables81" id="NotesTables81">
        <link:definition>04075 - Disclosure - Funds from securities issued (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables82" id="NotesTables82">
        <link:definition>04076 - Disclosure - Subordinated debt (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables83" id="NotesTables83">
        <link:definition>04077 - Disclosure - Insurance technical provisions and pension plans (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables84" id="NotesTables84">
        <link:definition>04078 - Disclosure - Supplemental pension plans (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables85" id="NotesTables85">
        <link:definition>04079 - Disclosure - Provisions, contingent liabilities and contingent assets (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables86" id="NotesTables86">
        <link:definition>04080 - Disclosure - Other liabilities (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables87" id="NotesTables87">
        <link:definition>04081 - Disclosure - Equity (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables88" id="NotesTables88">
        <link:definition>04082 - Disclosure - Transactions with related parties (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables89" id="NotesTables89">
        <link:definition>04083 - Disclosure - Off-balance sheet commitments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesTables90" id="NotesTables90">
        <link:definition>04084 - Disclosure - New standards and amendments and interpretations of existing standards (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails91" id="NotesDetails91">
        <link:definition>04085 - Disclosure - Significant Accounting Policies (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails92" id="NotesDetails92">
        <link:definition>04086 - Disclosure - Significant Accounting Policies (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails93" id="NotesDetails93">
        <link:definition>04087 - Disclosure - Significant Accounting Policies (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails94" id="NotesDetails94">
        <link:definition>04088 - Disclosure - Significant Accounting Policies (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails95" id="NotesDetails95">
        <link:definition>04089 - Disclosure - Significant Accounting Policies (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails96" id="NotesDetails96">
        <link:definition>04090 - Disclosure - Risk Management (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails97" id="NotesDetails97">
        <link:definition>04091 - Disclosure - Risk Management (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails98" id="NotesDetails98">
        <link:definition>04092 - Disclosure - Risk Management (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails99" id="NotesDetails99">
        <link:definition>04093 - Disclosure - Risk Management (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails100" id="NotesDetails100">
        <link:definition>04094 - Disclosure - Risk Management (Details 5)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails101" id="NotesDetails101">
        <link:definition>04095 - Disclosure - Risk Management (Details 6)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails102" id="NotesDetails102">
        <link:definition>04096 - Disclosure - Risk Management (Details 7)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails103" id="NotesDetails103">
        <link:definition>04097 - Disclosure - Risk Management (Details 8)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails104" id="NotesDetails104">
        <link:definition>04098 - Disclosure - Risk Management (Details 9)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails105" id="NotesDetails105">
        <link:definition>04099 - Disclosure - Risk Management (Details 10)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails106" id="NotesDetails106">
        <link:definition>04100 - Disclosure - Risk Management (Details 11)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails107" id="NotesDetails107">
        <link:definition>04101 - Disclosure - Risk Management (Details 12)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails108" id="NotesDetails108">
        <link:definition>04102 - Disclosure - Risk Management (Details 13)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails109" id="NotesDetails109">
        <link:definition>04103 - Disclosure - Risk Management (Details 14)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails110" id="NotesDetails110">
        <link:definition>04104 - Disclosure - Risk Management (Details 15)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails111" id="NotesDetails111">
        <link:definition>04105 - Disclosure - Risk Management (Details 16)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails112" id="NotesDetails112">
        <link:definition>04106 - Disclosure - Risk Management (Details 17)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails113" id="NotesDetails113">
        <link:definition>04107 - Disclosure - Risk Management (Details 18)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails114" id="NotesDetails114">
        <link:definition>04108 - Disclosure - Risk Management (Details 19)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails115" id="NotesDetails115">
        <link:definition>04109 - Disclosure - Risk Management (Details 20)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails116" id="NotesDetails116">
        <link:definition>04110 - Disclosure - Risk Management (Details 21)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails117" id="NotesDetails117">
        <link:definition>04111 - Disclosure - Risk Management (Details 22)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails118" id="NotesDetails118">
        <link:definition>04112 - Disclosure - Risk Management (Details 23)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails119" id="NotesDetails119">
        <link:definition>04113 - Disclosure - Risk Management (Details 24)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails120" id="NotesDetails120">
        <link:definition>04114 - Disclosure - Risk Management (Details 25)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails121" id="NotesDetails121">
        <link:definition>04115 - Disclosure - Risk Management (Details 26)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails122" id="NotesDetails122">
        <link:definition>04116 - Disclosure - Risk Management (Details 27)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails123" id="NotesDetails123">
        <link:definition>04117 - Disclosure - Risk Management (Details 28)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails124" id="NotesDetails124">
        <link:definition>04118 - Disclosure - Risk Management (Details 29)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails125" id="NotesDetails125">
        <link:definition>04119 - Disclosure - Risk Management (Details 30)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails126" id="NotesDetails126">
        <link:definition>04120 - Disclosure - Risk Management (Details 31)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails127" id="NotesDetails127">
        <link:definition>04121 - Disclosure - Risk Management (Details 32)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails128" id="NotesDetails128">
        <link:definition>04122 - Disclosure - Risk Management (Details 33)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails129" id="NotesDetails129">
        <link:definition>04123 - Disclosure - Risk Management (Details 34)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails130" id="NotesDetails130">
        <link:definition>04124 - Disclosure - Risk Management (Details 35)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails131" id="NotesDetails131">
        <link:definition>04125 - Disclosure - Risk Management (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails132" id="NotesDetails132">
        <link:definition>04126 - Disclosure - Estimates and judgments (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails133" id="NotesDetails133">
        <link:definition>04127 - Disclosure - Operating segments (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails134" id="NotesDetails134">
        <link:definition>04128 - Disclosure - Operating segments (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails135" id="NotesDetails135">
        <link:definition>04129 - Disclosure - Net interest income (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails136" id="NotesDetails136">
        <link:definition>04130 - Disclosure - Net fee and commission income (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails137" id="NotesDetails137">
        <link:definition>04131 - Disclosure - Net gains/(losses) on financial instruments classified as held for trading (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails138" id="NotesDetails138">
        <link:definition>04132 - Disclosure - Net gains/(losses) on financial instruments classified as available for sale (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails139" id="NotesDetails139">
        <link:definition>04133 - Disclosure - Net gains/(losses) on financial instruments classified as available for sale (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails140" id="NotesDetails140">
        <link:definition>04134 - Disclosure - Net income from insurance and pension plans (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails141" id="NotesDetails141">
        <link:definition>04135 - Disclosure - Impairment of loans and advances (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails142" id="NotesDetails142">
        <link:definition>04136 - Disclosure - Personnel expenses (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails143" id="NotesDetails143">
        <link:definition>04137 - Disclosure - Other administrative expenses (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails144" id="NotesDetails144">
        <link:definition>04138 - Disclosure - Depreciation and amortization (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails145" id="NotesDetails145">
        <link:definition>04139 - Disclosure - Other operating income/(expenses) (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails146" id="NotesDetails146">
        <link:definition>04140 - Disclosure - Other operating income/(expenses) (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails147" id="NotesDetails147">
        <link:definition>04141 - Disclosure - Income tax and social contribution (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails148" id="NotesDetails148">
        <link:definition>04142 - Disclosure - Income tax and social contribution (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails149" id="NotesDetails149">
        <link:definition>04143 - Disclosure - Income tax and social contribution (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails150" id="NotesDetails150">
        <link:definition>04144 - Disclosure - Income tax and social contribution (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails151" id="NotesDetails151">
        <link:definition>04145 - Disclosure - Income tax and social contribution (Details 5)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails152" id="NotesDetails152">
        <link:definition>04146 - Disclosure - Income tax and social contribution (Details 6)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails153" id="NotesDetails153">
        <link:definition>04147 - Disclosure - Income tax and social contribution (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails154" id="NotesDetails154">
        <link:definition>04148 - Disclosure - Earnings per share (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails155" id="NotesDetails155">
        <link:definition>04149 - Disclosure - Earnings per share (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails156" id="NotesDetails156">
        <link:definition>04150 - Disclosure - Cash and cash equivalents (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails157" id="NotesDetails157">
        <link:definition>04151 - Disclosure - Cash and cash equivalents (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails158" id="NotesDetails158">
        <link:definition>04152 - Disclosure - Cash and cash equivalents (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails159" id="NotesDetails159">
        <link:definition>04153 - Disclosure - Financial assets and liabilities held for trading (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails160" id="NotesDetails160">
        <link:definition>04154 - Disclosure - Financial assets and liabilities held for trading (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails161" id="NotesDetails161">
        <link:definition>04155 - Disclosure - Financial assets and liabilities held for trading (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails162" id="NotesDetails162">
        <link:definition>04156 - Disclosure - Financial assets and liabilities held for trading (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails163" id="NotesDetails163">
        <link:definition>04157 - Disclosure - Financial assets and liabilities held for trading (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails164" id="NotesDetails164">
        <link:definition>04158 - Disclosure - Financial assets available for sale (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails165" id="NotesDetails165">
        <link:definition>04159 - Disclosure - Financial assets available for sale (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails166" id="NotesDetails166">
        <link:definition>04160 - Disclosure - Financial assets available for sale (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails167" id="NotesDetails167">
        <link:definition>04161 - Disclosure - Investments held to maturity (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails168" id="NotesDetails168">
        <link:definition>04162 - Disclosure - Investments held to maturity (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails169" id="NotesDetails169">
        <link:definition>04163 - Disclosure - Investments held to maturity (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails170" id="NotesDetails170">
        <link:definition>04164 - Disclosure - Financial assets pledged as collateral (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails171" id="NotesDetails171">
        <link:definition>04165 - Disclosure - Financial assets pledged as collateral (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails172" id="NotesDetails172">
        <link:definition>04166 - Disclosure - Loans and advances to banks (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails173" id="NotesDetails173">
        <link:definition>04167 - Disclosure - Loans and advances to customers (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails174" id="NotesDetails174">
        <link:definition>04168 - Disclosure - Loans and advances to customers (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails175" id="NotesDetails175">
        <link:definition>04169 - Disclosure - Loans and advances to customers (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails176" id="NotesDetails176">
        <link:definition>04170 - Disclosure - Loans and advances to customers (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails177" id="NotesDetails177">
        <link:definition>04171 - Disclosure - Non-current assets held for sale (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails178" id="NotesDetails178">
        <link:definition>04172 - Disclosure - Non-current assets held for sale (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails179" id="NotesDetails179">
        <link:definition>04173 - Disclosure - Investments in associates and joint ventures (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails180" id="NotesDetails180">
        <link:definition>04174 - Disclosure - Investments in associates and joint ventures (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails181" id="NotesDetails181">
        <link:definition>04175 - Disclosure - Investments in associates and joint ventures (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails182" id="NotesDetails182">
        <link:definition>04176 - Disclosure - Property and equipment (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails183" id="NotesDetails183">
        <link:definition>04177 - Disclosure - Property and equipment (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails184" id="NotesDetails184">
        <link:definition>04178 - Disclosure - Property and equipment (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails185" id="NotesDetails185">
        <link:definition>04179 - Disclosure - Intangible assets and goodwill (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails186" id="NotesDetails186">
        <link:definition>04180 - Disclosure - Intangible assets and goodwill (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails187" id="NotesDetails187">
        <link:definition>04181 - Disclosure - Intangible assets and goodwill (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails188" id="NotesDetails188">
        <link:definition>04182 - Disclosure - Other assets (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails189" id="NotesDetails189">
        <link:definition>04183 - Disclosure - Deposits from banks (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails190" id="NotesDetails190">
        <link:definition>04184 - Disclosure - Deposits from customers (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails191" id="NotesDetails191">
        <link:definition>04185 - Disclosure - Funds from securities issued (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails192" id="NotesDetails192">
        <link:definition>04186 - Disclosure - Funds from securities issued (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails193" id="NotesDetails193">
        <link:definition>04187 - Disclosure - Subordinated debt (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails194" id="NotesDetails194">
        <link:definition>04188 - Disclosure - Subordinated debt (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails195" id="NotesDetails195">
        <link:definition>04189 - Disclosure - Insurance technical provisions and pension plans (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails196" id="NotesDetails196">
        <link:definition>04190 - Disclosure - Insurance technical provisions and pension plans (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails197" id="NotesDetails197">
        <link:definition>04191 - Disclosure - Insurance technical provisions and pension plans (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails198" id="NotesDetails198">
        <link:definition>04192 - Disclosure - Insurance technical provisions and pension plans (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails199" id="NotesDetails199">
        <link:definition>04193 - Disclosure - Insurance technical provisions and pension plans (Details 5)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails200" id="NotesDetails200">
        <link:definition>04194 - Disclosure - Insurance technical provisions and pension plans (Details 6)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails201" id="NotesDetails201">
        <link:definition>04195 - Disclosure - Insurance technical provisions and pension plans (Details 7)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails202" id="NotesDetails202">
        <link:definition>04196 - Disclosure - Insurance technical provisions and pension plans (Details 8)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails203" id="NotesDetails203">
        <link:definition>04197 - Disclosure - Insurance technical provisions and pension plans (Details 9)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails204" id="NotesDetails204">
        <link:definition>04198 - Disclosure - Insurance technical provisions and pension plans (Details 10)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails205" id="NotesDetails205">
        <link:definition>04199 - Disclosure - Insurance technical provisions and pension plans (Details 11)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails206" id="NotesDetails206">
        <link:definition>04200 - Disclosure - Insurance technical provisions and pension plans (Details 12)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails207" id="NotesDetails207">
        <link:definition>04201 - Disclosure - Insurance technical provisions and pension plans (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails208" id="NotesDetails208">
        <link:definition>04202 - Disclosure - Supplemental pension plans (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails209" id="NotesDetails209">
        <link:definition>04203 - Disclosure - Supplemental pension plans (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails210" id="NotesDetails210">
        <link:definition>04204 - Disclosure - Supplemental pension plans (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails211" id="NotesDetails211">
        <link:definition>04205 - Disclosure - Supplemental pension plans (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails212" id="NotesDetails212">
        <link:definition>04206 - Disclosure - Supplemental pension plans (Details 5)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails213" id="NotesDetails213">
        <link:definition>04207 - Disclosure - Supplemental pension plans (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails214" id="NotesDetails214">
        <link:definition>04208 - Disclosure - Provisions, contingent liabilities and contingent assets (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails215" id="NotesDetails215">
        <link:definition>04209 - Disclosure - Provisions, contingent liabilities and contingent assets (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails216" id="NotesDetails216">
        <link:definition>04210 - Disclosure - Other liabilities (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails217" id="NotesDetails217">
        <link:definition>04211 - Disclosure - Other liabilities (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails218" id="NotesDetails218">
        <link:definition>04212 - Disclosure - Other liabilities (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails219" id="NotesDetails219">
        <link:definition>04213 - Disclosure - Equity (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails220" id="NotesDetails220">
        <link:definition>04214 - Disclosure - Equity (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails221" id="NotesDetails221">
        <link:definition>04215 - Disclosure - Equity (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails222" id="NotesDetails222">
        <link:definition>04216 - Disclosure - Transactions with related parties (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails223" id="NotesDetails223">
        <link:definition>04217 - Disclosure - Transactions with related parties (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails224" id="NotesDetails224">
        <link:definition>04218 - Disclosure - Transactions with related parties (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails225" id="NotesDetails225">
        <link:definition>04219 - Disclosure - Transactions with related parties (Details 4)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails226" id="NotesDetails226">
        <link:definition>04220 - Disclosure - Transactions with related parties (Details 5)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.bradescori.com.br/role/NotesDetails227" id="NotesDetails227">
        <link:definition>04221 - Disclosure - Transactions with related parties (Details Text)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
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  <xs:element name="RecordedInOffbalanceSheetAccountsMember" id="bbd_RecordedInOffbalanceSheetAccountsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
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  <xs:element name="RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDebtSecuritiesIssuedByCompanies" id="bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDebtSecuritiesIssuedByCompanies" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:balance="debit" xbrli:periodType="instant" nillable="true" />
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  <xs:element name="FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso" id="bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" />
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  <xs:element name="InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket" id="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:balance="debit" xbrli:periodType="duration" nillable="true" />
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</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>36
<FILENAME>bbd-20171231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionAdjustmentsMember_lbl" xml:lang="en">Acquisition - Adjustments [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionDomain_lbl" xml:lang="en">Acquisition [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionDomain_lbl" xml:lang="en-US">Acquisition [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis_lbl" xml:lang="en">Acquisition of banking rights - in accordance with contract agreement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis_lbl" xml:lang="en-US">Acquisition of banking rights - in accordance with contract agreement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis_lbl" xml:lang="en">Acquisition of banking rights - in accordance with contract agreement [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementCustomerPortfolioMember_lbl" xml:lang="en-US">Acquisition Of Banking Rights In Accordance With Contract Agreement Customer Portfolio [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementCustomerPortfolioMember_lbl" xml:lang="en-US">Acquisition of banking rights - in accordance with contract agreement: Customer portfolio [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementDomain_lbl" xml:lang="en-US">Acquisition Of Banking Rights In Accordance With Contract Agreement [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementDomain_lbl" xml:lang="en">Acquisition of banking rights - in accordance with contract agreement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementDomain_lbl" xml:lang="en-US">Acquisition of banking rights - in accordance with contract agreement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementDomain_lbl" xml:lang="en">Acquisition of banking rights - in accordance with contract agreement [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementDomain_lbl" xml:lang="en-US">Acquisition of banking rights - in accordance with contract agreement [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementOthersMember_lbl" xml:lang="en">Others</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementSoftwareMember_lbl" xml:lang="en">Software</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Deposits From Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Deposits From Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en-US">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from banks</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers" xlink:to="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Deposits From Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Deposits From Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en-US">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from customers</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Desposits With The Central Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Desposits With The Central Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks_lbl" xml:lang="en">Desposits with the central banks</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Desposits with the central banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Desposits with the central banks</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale" xlink:to="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets available for sale</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading" xlink:to="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Assets Held For Trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Assets Held For Trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en-US">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets held for trading</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading" xlink:to="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Liabilities Held For Trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Financial Liabilities Held For Trading</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial liabilities held for trading</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued_lbl" xml:lang="en">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Funds From Securities Issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued_lbl" xml:lang="en-US">Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Funds From Securities Issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued_lbl" xml:lang="en">Funds from securities issued</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued_lbl" xml:lang="en">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Funds from securities issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued_lbl" xml:lang="en-US">Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Funds from securities issued</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AgribusinessNotes" xlink:label="bbd_AgribusinessNotes" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AgribusinessNotes" xlink:to="bbd_AgribusinessNotes_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en">Agribusiness Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en-US">Agribusiness Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en">Agribusiness notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en-US">Agribusiness notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en">Agribusiness notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AgribusinessNotes_lbl" xml:lang="en-US">Agribusiness notes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AllSharesMember" xlink:label="bbd_AllSharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AllSharesMember" xlink:to="bbd_AllSharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en">All Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en-US">All Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en">All shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en-US">All shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en">All shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllSharesMember_lbl" xml:lang="en-US">All shares [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AllowanceForLoansAndAdvancesTextBlock" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AllowanceForLoansAndAdvancesTextBlock" xlink:to="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en">Allowance For Loans And Advances Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en-US">Allowance For Loans And Advances Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en">Allowance for loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en-US">Allowance for loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en">Allowance for loans and advances.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesTextBlock_lbl" xml:lang="en-US">Allowance for loans and advances.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AllowanceForLoansAndAdvancesToCustomersAbstract" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract" xlink:to="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Allowance For Loans And Advances To Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Allowance For Loans And Advances To Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Allowance for loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Allowance for loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Allowance for loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Allowance for loans and advances to customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs" xlink:to="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en">Allowance For Loans And Advances To Customers Writeoffs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en-US">Allowance For Loans And Advances To Customers Writeoffs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en">Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en-US">Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en">Allowance for loans and advances to customers - Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs_lbl" xml:lang="en-US">Allowance for loans and advances to customers - Write-offs</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract" xlink:to="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en">Amount Estimated For Net Claims For Reinsurance [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en-US">Amount Estimated For Net Claims For Reinsurance [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en">Amount estimated for net claims for reinsurance:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en-US">Amount estimated for net claims for reinsurance:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en">Amount estimated for net claims for reinsurance:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract_lbl" xml:lang="en-US">Amount estimated for net claims for reinsurance:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsAbstract" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsAbstract" xlink:to="bbd_AmountEstimatedForTheClaimsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en">Amount Estimated For The Claims [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en-US">Amount Estimated For The Claims [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en">Amount estimated for the claims:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en-US">Amount estimated for the claims:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en">Amount estimated for the claims:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsAbstract_lbl" xml:lang="en-US">Amount estimated for the claims:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsAxis" xlink:label="bbd_AmountEstimatedForTheClaimsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsAxis" xlink:to="bbd_AmountEstimatedForTheClaimsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Amount Estimated For The Claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Amount Estimated For The Claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Amount estimated for the claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Amount estimated for the claims [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsDomain" xlink:label="bbd_AmountEstimatedForTheClaimsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsDomain" xlink:to="bbd_AmountEstimatedForTheClaimsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Amount Estimated For The Claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Amount Estimated For The Claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Amount estimated for the claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Amount estimated for the claims [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Eight Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Eight Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Eight years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Eight years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Eight years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Eight years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Five Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Five Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Five years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Five years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Five years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Five years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Four Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Four Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Four years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Four years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: In the year of notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: In the year of notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Nine years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Nine years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims One Year After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims One Year After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">One year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">One year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: One year after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: One year after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Seven Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Seven Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Seven years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Seven years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Seven years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Seven years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Six Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Six Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Six years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Six years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Six years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Six years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Ten Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Ten Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Ten years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Ten years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Ten years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Ten years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Three Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Three Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Three years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Three years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Three years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Three years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember" xlink:to="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Amount Estimated For The Claims Two Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount Estimated For The Claims Two Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Two years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Two years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Amount estimated for the claims: Two years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Amount estimated for the claims: Two years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountOfTheTransactionAxis" xlink:label="bbd_AmountOfTheTransactionAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountOfTheTransactionAxis" xlink:to="bbd_AmountOfTheTransactionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en">Amount Of The Transaction [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en-US">Amount Of The Transaction [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en">Amount of the transaction</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en-US">Amount of the transaction</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en">Amount of the transaction [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionAxis_lbl" xml:lang="en-US">Amount of the transaction [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountOfTheTransactionDomain" xlink:label="bbd_AmountOfTheTransactionDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountOfTheTransactionDomain" xlink:to="bbd_AmountOfTheTransactionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en">Amount Of The Transaction [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en-US">Amount Of The Transaction [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en">Amount of the transaction</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en-US">Amount of the transaction</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en">Amount of the transaction [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionDomain_lbl" xml:lang="en-US">Amount of the transaction [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AmountOfTheTransactionMember" xlink:label="bbd_AmountOfTheTransactionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AmountOfTheTransactionMember" xlink:to="bbd_AmountOfTheTransactionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en">Amount Of The Transaction [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en-US">Amount Of The Transaction [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en">Nominal amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en-US">Nominal amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en">Amount of the transaction [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AmountOfTheTransactionMember_lbl" xml:lang="en-US">Amount of the transaction [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AnnualRateOfDepreciation" xlink:label="bbd_AnnualRateOfDepreciation" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AnnualRateOfDepreciation" xlink:to="bbd_AnnualRateOfDepreciation_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en">Annual Rate Of Depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en-US">Annual Rate Of Depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en">Annual rate of depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en-US">Annual rate of depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en">Annual rate of depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AnnualRateOfDepreciation_lbl" xml:lang="en-US">Annual rate of depreciation</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis" xlink:to="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en">Application Of Deductions Of Prudential Adjustments [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en-US">Application Of Deductions Of Prudential Adjustments [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en">Application of deductions of prudential adjustments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en-US">Application of deductions of prudential adjustments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en">Application of deductions of prudential adjustments [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis_lbl" xml:lang="en-US">Application of deductions of prudential adjustments [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain" xlink:to="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en">Application Of Deductions Of Prudential Adjustments [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en-US">Application Of Deductions Of Prudential Adjustments [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en">Application of deductions of prudential adjustments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en-US">Application of deductions of prudential adjustments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en">Application of deductions of prudential adjustments [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsDomain_lbl" xml:lang="en-US">Application of deductions of prudential adjustments [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember" xlink:to="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en">Application Of Deductions Of Prudential Adjustments II [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en-US">Application Of Deductions Of Prudential Adjustments II [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en">Application of deductions of prudential adjustments II</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en-US">Application of deductions of prudential adjustments II</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en">Application of deductions of prudential adjustments II [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember_lbl" xml:lang="en-US">Application of deductions of prudential adjustments II [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember" xlink:to="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en">Application Of Deductions Of Prudential Adjustments I [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en-US">Application Of Deductions Of Prudential Adjustments I [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en">Application of deductions of prudential adjustments I</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en-US">Application of deductions of prudential adjustments I</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en">Application of deductions of prudential adjustments I [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember_lbl" xml:lang="en-US">Application of deductions of prudential adjustments I [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesAbstract" xlink:label="bbd_AssetCategoriesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesAbstract" xlink:to="bbd_AssetCategoriesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en">Asset Categories [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en-US">Asset Categories [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en">Asset categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en-US">Asset categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en">Asset categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesAbstract_lbl" xml:lang="en-US">Asset categories</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesEquities" xlink:label="bbd_AssetCategoriesEquities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesEquities" xlink:to="bbd_AssetCategoriesEquities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en">Asset Categories Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en-US">Asset Categories Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en-US">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en">Asset categories - Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesEquities_lbl" xml:lang="en-US">Asset categories - Equities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesFixedIncome" xlink:label="bbd_AssetCategoriesFixedIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesFixedIncome" xlink:to="bbd_AssetCategoriesFixedIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en">Asset Categories Fixed Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en-US">Asset Categories Fixed Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en">Fixed income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en-US">Fixed income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en">Asset categories - Fixed income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesFixedIncome_lbl" xml:lang="en-US">Asset categories - Fixed income</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesOther" xlink:label="bbd_AssetCategoriesOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesOther" xlink:to="bbd_AssetCategoriesOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en">Asset Categories Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en-US">Asset Categories Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en-US">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en">Asset categories - Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesOther_lbl" xml:lang="en-US">Asset categories - Other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesProperties" xlink:label="bbd_AssetCategoriesProperties" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesProperties" xlink:to="bbd_AssetCategoriesProperties_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en">Asset Categories Properties</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en-US">Asset Categories Properties</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en">Real estate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en-US">Real estate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en">Asset categories - Properties</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesProperties_lbl" xml:lang="en-US">Asset categories - Properties</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetCategoriesTotal" xlink:label="bbd_AssetCategoriesTotal" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetCategoriesTotal" xlink:to="bbd_AssetCategoriesTotal_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en">Asset Categories Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en-US">Asset Categories Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en">Asset categories - Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetCategoriesTotal_lbl" xml:lang="en-US">Asset categories - Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetPositionAxis" xlink:label="bbd_AssetPositionAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetPositionAxis" xlink:to="bbd_AssetPositionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en">Asset Position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en-US">Asset Position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en-US">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en">Asset position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionAxis_lbl" xml:lang="en-US">Asset position [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetPositionDomain" xlink:label="bbd_AssetPositionDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetPositionDomain" xlink:to="bbd_AssetPositionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en">Asset Position [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en-US">Asset Position [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en-US">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en">Asset position [Doamin]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionDomain_lbl" xml:lang="en-US">Asset position [Doamin]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetPositionMember" xlink:label="bbd_AssetPositionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetPositionMember" xlink:to="bbd_AssetPositionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en">Asset Position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en-US">Asset Position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en-US">Asset position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en">Asset position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetPositionMember_lbl" xml:lang="en-US">Asset position [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsFinancialPledgedAsCollateralAbstract" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsFinancialPledgedAsCollateralAbstract" xlink:to="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en">Assets Financial Pledged As Collateral [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Assets Financial Pledged As Collateral [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsFinancialPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities" xlink:to="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en">Assets Held For Trading Pledged As Guarantee Of Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en-US">Assets Held For Trading Pledged As Guarantee Of Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en">Total assets held for trading pledged as a guarantee of liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en-US">Total assets held for trading pledged as a guarantee of liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en">Assets held for trading pledged as a guarantee of liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities_lbl" xml:lang="en-US">Assets held for trading pledged as a guarantee of liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsNotForOwnUseAbstract" xlink:label="bbd_AssetsNotForOwnUseAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsNotForOwnUseAbstract" xlink:to="bbd_AssetsNotForOwnUseAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en">Assets Not For Own Use [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en-US">Assets Not For Own Use [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en">Assets not for own use</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en-US">Assets not for own use</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en">Assets not for own use</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsNotForOwnUseAbstract_lbl" xml:lang="en-US">Assets not for own use</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsOfTheAlvoradaPlanMember" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsOfTheAlvoradaPlanMember" xlink:to="bbd_AssetsOfTheAlvoradaPlanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en">Assets Of The Alvorada Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en-US">Assets Of The Alvorada Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en">Assets of the Alvorada Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en-US">Assets of the Alvorada Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en">Assets of the Alvorada Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheAlvoradaPlanMember_lbl" xml:lang="en-US">Assets of the Alvorada Plan [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsOfTheBradescoPlanMember" xlink:label="bbd_AssetsOfTheBradescoPlanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsOfTheBradescoPlanMember" xlink:to="bbd_AssetsOfTheBradescoPlanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en">Assets Of The Bradesco Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en-US">Assets Of The Bradesco Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en">Assets of the Bradesco Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en-US">Assets of the Bradesco Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en">Assets of the Bradesco Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheBradescoPlanMember_lbl" xml:lang="en-US">Assets of the Bradesco Plan [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsOfTheKirtonPlanMember" xlink:label="bbd_AssetsOfTheKirtonPlanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsOfTheKirtonPlanMember" xlink:to="bbd_AssetsOfTheKirtonPlanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en">Assets Of The Kirton Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en-US">Assets Of The Kirton Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en">Assets of the Kirton Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en-US">Assets of the Kirton Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en">Assets of the Kirton Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheKirtonPlanMember_lbl" xml:lang="en-US">Assets of the Kirton Plan [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssetsOfTheLosangoPlanMember" xlink:label="bbd_AssetsOfTheLosangoPlanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssetsOfTheLosangoPlanMember" xlink:to="bbd_AssetsOfTheLosangoPlanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en">Assets Of The Losango Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en-US">Assets Of The Losango Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en">Assets of the Losango Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en-US">Assets of the Losango Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en">Assets of the Losango Plan [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssetsOfTheLosangoPlanMember_lbl" xml:lang="en-US">Assets of the Losango Plan [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesCurrentAssets" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesCurrentAssets" xlink:to="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en">Associates And Joint Ventures Current Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en-US">Associates And Joint Ventures Current Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en">Associates and joint ventures current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en-US">Associates and joint ventures current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en">Associates and joint ventures current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesCurrentAssets_lbl" xml:lang="en-US">Associates and joint ventures current assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesCurrentLiabilities" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesCurrentLiabilities" xlink:to="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en">Associates And Joint Ventures Current Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en-US">Associates And Joint Ventures Current Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en">Associates and joint ventures current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en-US">Associates and joint ventures current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en">Associates and joint ventures current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesCurrentLiabilities_lbl" xml:lang="en-US">Associates and joint ventures current liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear" xlink:to="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en">Associates And Joint Ventures Net Income Loss For The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en-US">Associates And Joint Ventures Net Income Loss For The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en">Associates and joint ventures net income (loss) for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en-US">Associates and joint ventures net income (loss) for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en">Associates and joint ventures net income (loss) for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear_lbl" xml:lang="en-US">Associates and joint ventures net income (loss) for the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesNonCurrentAssets" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesNonCurrentAssets" xlink:to="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en">Associates And Joint Ventures Non Current Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en-US">Associates And Joint Ventures Non Current Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en">Associates and joint ventures non - current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en-US">Associates and joint ventures non - current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en">Associates and joint ventures non - current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentAssets_lbl" xml:lang="en-US">Associates and joint ventures non - current assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesNonCurrentLiabilities" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesNonCurrentLiabilities" xlink:to="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en">Associates And Joint Ventures Non Current Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en-US">Associates And Joint Ventures Non Current Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en">Associates and joint ventures non - current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en-US">Associates and joint ventures non - current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en">Associates and joint ventures non - current liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesAndJointVenturesNonCurrentLiabilities_lbl" xml:lang="en-US">Associates and joint ventures non - current liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesAndJointVenturesRevenue" xlink:label="bbd_AssociatesAndJointVenturesRevenue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesAndJointVenturesRevenue" xlink:to="bbd_AssociatesAndJointVenturesRevenue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesAndJointVenturesRevenue_lbl" xml:lang="en">Associates And Joint Ventures Revenue</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesAndJointVenturesRevenue_lbl" xml:lang="en">Revenue</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesNCRBrasilIndustriaDeEquipamentosParaAutomacaoSAMember_lbl" xml:lang="en">Associates: NCR Brasil Industria de Equipamentos para Automa&#231;&#227;o S.A. [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesNCRBrasilIndustriaDeEquipamentosParaAutomacaoSAMember_lbl" xml:lang="en-US">Associates: NCR Brasil Industria de Equipamentos para Automa&#231;&#227;o S.A. [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesOtherMember" xlink:to="bbd_AssociatesOtherMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesOtherMember_lbl" xml:lang="en">Associates Other [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesOtherMember_lbl" xml:lang="en-US">Associates Other [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesOtherMember_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesOtherMember_lbl" xml:lang="en-US">Other</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesOtherMember_lbl" xml:lang="en-US">Associates: Other [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesSwissReCorporateSolutionsBrasilMember" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en">Associates Swiss Re Corporate Solutions Brasil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en-US">Associates Swiss Re Corporate Solutions Brasil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en">Swiss Re Corporate Solutions Brasil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en-US">Swiss Re Corporate Solutions Brasil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en">Associates: Swiss Re Corporate Solutions Brasil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesSwissReCorporateSolutionsBrasilMember_lbl" xml:lang="en-US">Associates: Swiss Re Corporate Solutions Brasil [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesTecnologiaBancariaSAMember" xlink:label="bbd_AssociatesTecnologiaBancariaSAMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesTecnologiaBancariaSAMember" xlink:to="bbd_AssociatesTecnologiaBancariaSAMember_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesTecnologiaBancariaSAMember_lbl" xml:lang="en-US">Tecnologia Bancaria S.A.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesTecnologiaBancariaSAMember_lbl" xml:lang="en">Associates: Tecnologia Bancaria S.A. [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesTecnologiaBancariaSAMember_lbl" xml:lang="en-US">Associates: Tecnologia Bancaria S.A. [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AssociatesTotalInvestmentsInAssociatesMember" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AssociatesTotalInvestmentsInAssociatesMember" xlink:to="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en">Associates Total Investments In Associates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en-US">Associates Total Investments In Associates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en">Total investments in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en-US">Total investments in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en">Associates: Total investments in associates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AssociatesTotalInvestmentsInAssociatesMember_lbl" xml:lang="en-US">Associates: Total investments in associates [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AvailableForSaleBankDebtSecurities" xlink:label="bbd_AvailableForSaleBankDebtSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AvailableForSaleBankDebtSecurities" xlink:to="bbd_AvailableForSaleBankDebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en">Available For Sale Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en-US">Available For Sale Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en-US">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en">Available for sale - Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBankDebtSecurities_lbl" xml:lang="en-US">Available for sale - Bank debt securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AvailableForSaleBrazilianGovernmentSecurities" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AvailableForSaleBrazilianGovernmentSecurities" xlink:to="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en">Available For Sale Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Available For Sale Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en">Available for sale - Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Available for sale - Brazilian government securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AvailableForSaleBrazilianSovereignBonds" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AvailableForSaleBrazilianSovereignBonds" xlink:to="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en">Available For Sale Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en-US">Available For Sale Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en-US">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en">Available for sale - Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleBrazilianSovereignBonds_lbl" xml:lang="en-US">Available for sale - Brazilian sovereign bonds</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AvailableForSaleCorporateDebtSecurities" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AvailableForSaleCorporateDebtSecurities" xlink:to="bbd_AvailableForSaleCorporateDebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en">Available For Sale Corporate Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en-US">Available For Sale Corporate Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en">Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en-US">Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en">Available for sale - Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AvailableForSaleCorporateDebtSecurities_lbl" xml:lang="en-US">Available for sale - Corporate debt securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_AverageAmountMember" xlink:label="bbd_AverageAmountMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_AverageAmountMember" xlink:to="bbd_AverageAmountMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en">Average Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en-US">Average Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en">Average Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en-US">Average Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en">Average Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_AverageAmountMember_lbl" xml:lang="en-US">Average Amount [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract" xlink:to="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en">Balance Sheet For The Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en-US">Balance Sheet For The Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en-US">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract_lbl" xml:lang="en-US">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal" xlink:to="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en">Balance Sheet For The Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Subtotal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en-US">Balance Sheet For The Acquisition With Hsbc Bank And Hsbc Servios Hsbc Brasil Subtotal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en">Sub-total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en-US">Sub-total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Sub-total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal_lbl" xml:lang="en-US">Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Sub-total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_BankingPortfoliosInterestRateRisk" xlink:label="bbd_BankingPortfoliosInterestRateRisk" />
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CashOutflowsPercent" xlink:label="bbd_CashOutflowsPercent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CashOutflowsPercent" xlink:to="bbd_CashOutflowsPercent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en">Cash Outflows Percent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en-US">Cash Outflows Percent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en">Redemptions and non-renewals retail and wholesale funding without collateral (unsecured)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en-US">Redemptions and non-renewals retail and wholesale funding without collateral (unsecured)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en">Related to the cash outflows, based on the regulatory stress scenario (item 16), about 54.0% are redemptions and non-renewals retail and wholesale funding without collateral (unsecured), as shown in item 2 and 5 of the table</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CashOutflowsPercent_lbl" xml:lang="en-US">Related to the cash outflows, based on the regulatory stress scenario (item 16), about 54.0% are redemptions and non-renewals retail and wholesale funding without collateral (unsecured), as shown in item 2 and 5 of the table</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CashOutlowsAbstract" xlink:label="bbd_CashOutlowsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CashOutlowsAbstract" xlink:to="bbd_CashOutlowsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en">Cash Outlows [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en-US">Cash Outlows [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en">Cash Outlows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en-US">Cash Outlows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en">Cash Outlows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CashOutlowsAbstract_lbl" xml:lang="en-US">Cash Outlows</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock" xlink:to="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en">Change In Intangible Assets And Goodwill By Class Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en-US">Change In Intangible Assets And Goodwill By Class Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en">Change in intangible assets and goodwill by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en-US">Change in intangible assets and goodwill by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en">Change in intangible assets and goodwill by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock_lbl" xml:lang="en-US">Change in intangible assets and goodwill by class</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangeInPropertyAndEquipmentByClassTextBlock" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangeInPropertyAndEquipmentByClassTextBlock" xlink:to="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en">Change In Property And Equipment By Class Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en-US">Change In Property And Equipment By Class Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en">Change in property and equipment by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en-US">Change in property and equipment by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en">Change in property and equipment by class</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangeInPropertyAndEquipmentByClassTextBlock_lbl" xml:lang="en-US">Change in property and equipment by class</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssetsAndLiabilitiesAbstract" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssetsAndLiabilitiesAbstract" xlink:to="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en">Changes In Assets And Liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Changes In Assets And Liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en">Changes in assets and liabilities:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Changes in assets and liabilities:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en">Changes in assets and liabilities [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Changes in assets and liabilities [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesAbstract" xlink:label="bbd_ChangesInAssociatesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesAbstract" xlink:to="bbd_ChangesInAssociatesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en">Changes In Associates [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en-US">Changes In Associates [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en-US">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesAbstract_lbl" xml:lang="en-US">Changes in associates</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesAcquisitions" xlink:label="bbd_ChangesInAssociatesAcquisitions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesAcquisitions" xlink:to="bbd_ChangesInAssociatesAcquisitions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en">Changes In Associates Acquisitions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en-US">Changes In Associates Acquisitions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en">Acquisitions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en-US">Acquisitions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en">Changes in associates - Acquisitions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesAcquisitions_lbl" xml:lang="en-US">Changes in associates - Acquisitions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesImpairment" xlink:label="bbd_ChangesInAssociatesImpairment" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesImpairment" xlink:to="bbd_ChangesInAssociatesImpairment_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en">Changes In Associates Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en-US">Changes In Associates Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en">Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en-US">Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en">Changes in associates - Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesImpairment_lbl" xml:lang="en-US">Changes in associates - Impairment</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesOther" xlink:label="bbd_ChangesInAssociatesOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesOther" xlink:to="bbd_ChangesInAssociatesOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en">Changes In Associates Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en-US">Changes In Associates Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en-US">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en">Changes in associates - Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesOther_lbl" xml:lang="en-US">Changes in associates - Other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesSpinoffOfAssociates" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesSpinoffOfAssociates" xlink:to="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en">Changes In Associates Spinoff Of Associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en-US">Changes In Associates Spinoff Of Associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en">Spin-off of associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en-US">Spin-off of associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en">Changes in associates - Spin-off of associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesSpinoffOfAssociates_lbl" xml:lang="en-US">Changes in associates - Spin-off of associates</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesTextBlock" xlink:label="bbd_ChangesInAssociatesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesTextBlock" xlink:to="bbd_ChangesInAssociatesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en">Changes In Associates Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en-US">Changes In Associates Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en-US">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en">Changes in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesTextBlock_lbl" xml:lang="en-US">Changes in associates</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInAssociatesTransfer" xlink:label="bbd_ChangesInAssociatesTransfer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInAssociatesTransfer" xlink:to="bbd_ChangesInAssociatesTransfer_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en">Changes In Associates Transfer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en-US">Changes In Associates Transfer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en">Transfer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en-US">Transfer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en">Changes in associates - Transfer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInAssociatesTransfer_lbl" xml:lang="en-US">Changes in associates - Transfer</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInCapitalStockInNumberOfSharesTextBlock" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock" xlink:to="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en">Changes In Capital Stock In Number Of Shares Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en-US">Changes In Capital Stock In Number Of Shares Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en">Changes in capital stock, in number of shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en-US">Changes in capital stock, in number of shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en">Changes in capital stock, in number of shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInCapitalStockInNumberOfSharesTextBlock_lbl" xml:lang="en-US">Changes in capital stock, in number of shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en">Changes In Deferred Acquisition Cost Insurance Assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en-US">Changes In Deferred Acquisition Cost Insurance Assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en-US">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract_lbl" xml:lang="en-US">Changes in deferred acquisition cost (insurance assets)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio" xlink:to="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Changes In Deferred Acquisition Cost Insurance Assets Partial Spinoff Of Large Risk Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Changes In Deferred Acquisition Cost Insurance Assets Partial Spinoff Of Large Risk Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Changes in deferred acquisition cost (insurance assets) - Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Changes in deferred acquisition cost (insurance assets) - Partial spin-off of large risk portfolio</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en">Changes In Deferred Acquisition Cost Insurance Assets Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en-US">Changes In Deferred Acquisition Cost Insurance Assets Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en-US">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en">Changes in deferred acquisition cost (insurance assets)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock_lbl" xml:lang="en-US">Changes in deferred acquisition cost (insurance assets)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution" xlink:to="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en">Changes In Other Provision Balance Originating From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en-US">Changes In Other Provision Balance Originating From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en">Balance originating from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en-US">Balance originating from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en">Changes in other provision - Balance originating from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution_lbl" xml:lang="en-US">Changes in other provision - Balance originating from an acquired institution</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionCivilMember" xlink:label="bbd_ChangesInOtherProvisionCivilMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionCivilMember" xlink:to="bbd_ChangesInOtherProvisionCivilMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en">Changes In Other Provision Civil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en-US">Changes In Other Provision Civil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en">Civil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en-US">Civil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en">Changes in other provision: Civil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionCivilMember_lbl" xml:lang="en-US">Changes in other provision: Civil [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionLaborMember" xlink:label="bbd_ChangesInOtherProvisionLaborMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionLaborMember" xlink:to="bbd_ChangesInOtherProvisionLaborMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en">Changes In Other Provision Labor [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en-US">Changes In Other Provision Labor [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en">Labor</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en-US">Labor</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en">Changes in other provision: Labor [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionLaborMember_lbl" xml:lang="en-US">Changes in other provision: Labor [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionPayments" xlink:label="bbd_ChangesInOtherProvisionPayments" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionPayments" xlink:to="bbd_ChangesInOtherProvisionPayments_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en">Changes In Other Provision Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en-US">Changes In Other Provision Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en">Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en-US">Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en">Changes in other provision - Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionPayments_lbl" xml:lang="en-US">Changes in other provision - Payments</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember" xlink:to="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en">Changes In Other Provision Tax And Social Security [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en-US">Changes In Other Provision Tax And Social Security [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en">Tax and Social Security</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en-US">Tax and Social Security</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en">Changes in other provision: Tax and Social Security [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember_lbl" xml:lang="en-US">Changes in other provision: Tax and Social Security [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInOtherProvisionTextBlock" xlink:label="bbd_ChangesInOtherProvisionTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInOtherProvisionTextBlock" xlink:to="bbd_ChangesInOtherProvisionTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en">Changes In Other Provision Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en-US">Changes In Other Provision Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en">Changes in other provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en-US">Changes in other provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en">Changes in other provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInOtherProvisionTextBlock_lbl" xml:lang="en-US">Changes in other provision</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest" xlink:to="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en">Changes In Reinsurance Assets Adjustment Of Inflation And Interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en-US">Changes In Reinsurance Assets Adjustment Of Inflation And Interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en">Adjustment for inflation and interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en-US">Adjustment for inflation and interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en">Changes in reinsurance assets - Adjustment of inflation and interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest_lbl" xml:lang="en-US">Changes in reinsurance assets - Adjustment of inflation and interest</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses" xlink:to="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en">Changes In Reinsurance Assets Recovered Insurance Losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en-US">Changes In Reinsurance Assets Recovered Insurance Losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en">Recovered insurance losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en-US">Recovered insurance losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en">Changes in reinsurance assets - Recovered insurance losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses_lbl" xml:lang="en-US">Changes in reinsurance assets - Recovered insurance losses</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ChangesInReinsuranceAssetsReversals" xlink:label="bbd_ChangesInReinsuranceAssetsReversals" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ChangesInReinsuranceAssetsReversals" xlink:to="bbd_ChangesInReinsuranceAssetsReversals_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsReversals_lbl" xml:lang="en">Changes In Reinsurance Assets Reversals</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ChangesInReinsuranceAssetsReversals_lbl" xml:lang="en-US">Changes In Reinsurance Assets Reversals</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Four Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Four years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Four years after notification [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: In the year of notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: In the year of notification [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Nine years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Nine years after notification [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims One Year After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims One Year After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">One year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">One year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: One year after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: One year after notification [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Seven Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Seven Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Seven years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Seven years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Seven years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSevenYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Seven years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Six Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Six Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Six years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Six years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Six years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsSixYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Six years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Ten Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Ten Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Ten years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Ten years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Ten years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTenYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Ten years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Three Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Three Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Three years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Three years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Three years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Three years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember" xlink:to="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Claims Net Reinsurance Amount Estimated For The Claims Two Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims Net Reinsurance Amount Estimated For The Claims Two Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Two years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Two years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en">Claims, net reinsurance - Amount estimated for the claims: Two years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember_lbl" xml:lang="en-US">Claims, net reinsurance - Amount estimated for the claims: Two years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en">Claims Net Reinsurance Year Claims Were Notified 2008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en-US">Claims Net Reinsurance Year Claims Were Notified 2008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en">Year claims were notified - 2008</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en-US">Year claims were notified - 2008</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en">Claims, net reinsurance - Year claims were notified - 2008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member_lbl" xml:lang="en-US">Claims, net reinsurance - Year claims were notified - 2008 [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member" xlink:to="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member_lbl" xml:lang="en">Claims Net Reinsurance Year Claims Were Notified 2009 [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember_lbl" xml:lang="en-US">Year claims were notified - Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember_lbl" xml:lang="en">Claims, net reinsurance - Year claims were notified - Total [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember_lbl" xml:lang="en-US">Claims, net reinsurance - Year claims were notified - Total [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember" xlink:to="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en">Claims Net Reinsurance Year Claims Were Notified Up To [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en-US">Claims Net Reinsurance Year Claims Were Notified Up To [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en">Year claims were notified - Up to 2007</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en-US">Year claims were notified - Up to 2007</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en">Claims, net reinsurance - Year claims were notified - Up to 2007 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember_lbl" xml:lang="en-US">Claims, net reinsurance - Year claims were notified - Up to 2007 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeAxis" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeAxis" xlink:to="bbd_ClaimsTableDoesNotIncludeAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en">Claims Table Does Not Include [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en-US">Claims Table Does Not Include [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en">Claims table does not include</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en-US">Claims table does not include</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en">Claims table does not include [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeAxis_lbl" xml:lang="en-US">Claims table does not include [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember" xlink:to="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en">Claims Table Does Not Include DPVAT Insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en-US">Claims Table Does Not Include DPVAT Insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en">DPVAT insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en-US">DPVAT insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en">Claims table does not include - DPVAT insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember_lbl" xml:lang="en-US">Claims table does not include - DPVAT insurance [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeDomain" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeDomain" xlink:to="bbd_ClaimsTableDoesNotIncludeDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en">Claims Table Does Not Include [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en-US">Claims Table Does Not Include [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en">Claims table does not include</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en-US">Claims table does not include</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en">Claims table does not include [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeDomain_lbl" xml:lang="en-US">Claims table does not include [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember" xlink:to="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en">Claims Table Does Not Include Health And Dental Insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en-US">Claims Table Does Not Include Health And Dental Insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en">Health and Dental insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en-US">Health and Dental insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en">Claims table does not include - Health and Dental insurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember_lbl" xml:lang="en-US">Claims table does not include - Health and Dental insurance [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeRetrocessionMember" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeRetrocessionMember" xlink:to="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en">Claims Table Does Not Include Retrocession [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en-US">Claims Table Does Not Include Retrocession [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en">Retrocession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en-US">Retrocession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en">Claims table does not include - Retrocession [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeRetrocessionMember_lbl" xml:lang="en-US">Claims table does not include - Retrocession [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember" xlink:to="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en">Claims Table Does Not Include Salvage And Reimbursement Estimates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en-US">Claims Table Does Not Include Salvage And Reimbursement Estimates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en">Salvage and reimbursement estimates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en-US">Salvage and reimbursement estimates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en">Claims table does not include - Salvage and reimbursement estimates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember_lbl" xml:lang="en-US">Claims table does not include - Salvage and reimbursement estimates [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClassifiedAsAssociatesAxis" xlink:label="bbd_ClassifiedAsAssociatesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClassifiedAsAssociatesAxis" xlink:to="bbd_ClassifiedAsAssociatesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en">Classified As Associates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en-US">Classified As Associates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en">Classified as associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en-US">Classified as associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en">Classified as associates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesAxis_lbl" xml:lang="en-US">Classified as associates [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClassifiedAsAssociatesBiggerThanMember" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClassifiedAsAssociatesBiggerThanMember" xlink:to="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en">Classified As Associates Bigger Than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en-US">Classified As Associates Bigger Than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en">Bigger than</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en-US">Bigger than</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en">Classified as associates: Bigger than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesBiggerThanMember_lbl" xml:lang="en-US">Classified as associates: Bigger than [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClassifiedAsAssociatesDomain" xlink:label="bbd_ClassifiedAsAssociatesDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClassifiedAsAssociatesDomain" xlink:to="bbd_ClassifiedAsAssociatesDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en">Classified As Associates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en-US">Classified As Associates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en">Classified as associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en-US">Classified as associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en">Classified as associates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesDomain_lbl" xml:lang="en-US">Classified as associates [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ClassifiedAsAssociatesLessThanMember" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ClassifiedAsAssociatesLessThanMember" xlink:to="bbd_ClassifiedAsAssociatesLessThanMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en">Classified As Associates Less Than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en-US">Classified As Associates Less Than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en">Less than</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en-US">Less than</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en">Classified as associates: Less than [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ClassifiedAsAssociatesLessThanMember_lbl" xml:lang="en-US">Classified as associates: Less than [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralAxis" xlink:label="bbd_CollateralAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralAxis" xlink:to="bbd_CollateralAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en">Collateral [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en-US">Collateral [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en">Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en-US">Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en">Collateral [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralAxis_lbl" xml:lang="en-US">Collateral [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralDomain" xlink:label="bbd_CollateralDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralDomain" xlink:to="bbd_CollateralDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en">Collateral [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en-US">Collateral [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en">Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en-US">Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en">Collateral [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralDomain_lbl" xml:lang="en-US">Collateral [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied" xlink:to="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en">Collateral Is Conditional Commitment To Ensure That The Contractual Clauses Of Repurchase Agreements Are Complied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en-US">Collateral Is Conditional Commitment To Ensure That The Contractual Clauses Of Repurchase Agreements Are Complied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en-US">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied_lbl" xml:lang="en-US">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralMayBeRepledgedMember" xlink:label="bbd_CollateralMayBeRepledgedMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralMayBeRepledgedMember" xlink:to="bbd_CollateralMayBeRepledgedMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en">Collateral May Be Repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en-US">Collateral May Be Repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en">May be repledged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en-US">May be repledged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en">Collateral: May be repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralMayBeRepledgedMember_lbl" xml:lang="en-US">Collateral: May be repledged [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralSoldOrRepledgedMember" xlink:label="bbd_CollateralSoldOrRepledgedMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralSoldOrRepledgedMember" xlink:to="bbd_CollateralSoldOrRepledgedMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en">Collateral Sold Or Repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en-US">Collateral Sold Or Repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en">Sold or repledged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en-US">Sold or repledged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en">Collateral: Sold or repledged [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralSoldOrRepledgedMember_lbl" xml:lang="en-US">Collateral: Sold or repledged [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralizedLoans" xlink:label="bbd_CollateralizedLoans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralizedLoans" xlink:to="bbd_CollateralizedLoans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en">Collateralized Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en-US">Collateralized Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en">Collateralized loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en-US">Collateralized loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en">Collateralized loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralizedLoans_lbl" xml:lang="en-US">Collateralized loans</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CollateralizedWholesaleFunding" xlink:label="bbd_CollateralizedWholesaleFunding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CollateralizedWholesaleFunding" xlink:to="bbd_CollateralizedWholesaleFunding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en">Collateralized Wholesale Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en-US">Collateralized Wholesale Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en">Collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en-US">Collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en">Collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CollateralizedWholesaleFunding_lbl" xml:lang="en-US">Collateralized wholesale funding</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock" xlink:to="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en">Composition By Maturity Of Financial Leases And Details Of Operating Leases Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en-US">Composition By Maturity Of Financial Leases And Details Of Operating Leases Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en">Composition by maturity of financial leases and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en-US">Composition by maturity of financial leases and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en">Composition by maturity of financial leases and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock_lbl" xml:lang="en-US">Composition by maturity of financial leases and details of operating leases</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract" xlink:to="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en">Composition By Maturity Of Financial Leasing And Details Of Operating Leases [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en-US">Composition By Maturity Of Financial Leasing And Details Of Operating Leases [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en">Composition by maturity of financial leasing and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en-US">Composition by maturity of financial leasing and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en">Composition by maturity of financial leasing and details of operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract_lbl" xml:lang="en-US">Composition by maturity of financial leasing and details of operating leases</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionByNatureDepositsFromCustomersTextBlock" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionByNatureDepositsFromCustomersTextBlock" xlink:to="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en">Composition By Nature Deposits From Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en-US">Composition By Nature Deposits From Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en">Composition by nature</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en-US">Composition by nature</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en">Composition by nature.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByNatureDepositsFromCustomersTextBlock_lbl" xml:lang="en-US">Composition by nature.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionByNatureTextBlock" xlink:label="bbd_CompositionByNatureTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionByNatureTextBlock" xlink:to="bbd_CompositionByNatureTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en">Composition By Nature Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en-US">Composition By Nature Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en">Composition by nature</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en-US">Composition by nature</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en">Composition by nature.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByNatureTextBlock_lbl" xml:lang="en-US">Composition by nature.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock" xlink:to="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en">Composition By Type Of Security Issued And Location Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en-US">Composition By Type Of Security Issued And Location Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en">Composition by type of security issued and location</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en-US">Composition by type of security issued and location</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en">Composition by type of security issued and location</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock_lbl" xml:lang="en-US">Composition by type of security issued and location</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CompositionOfGoodwillBySegmentAbstract" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CompositionOfGoodwillBySegmentAbstract" xlink:to="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" xml:lang="en">Composition Of Goodwill By Segment [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" xml:lang="en-US">Composition Of Goodwill By Segment [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" xml:lang="en">Composition of goodwill by segment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" xml:lang="en-US">Composition of goodwill by segment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CompositionOfGoodwillBySegmentAbstract_lbl" xml:lang="en">Composition of goodwill by segment</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsolidatedAfterAcquisition_lbl" xml:lang="en">Consolidated After Acquisition</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsolidatedAfterAcquisition_lbl" xml:lang="en-US">Consolidated After Acquisition</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsolidatedAfterAcquisition_lbl" xml:lang="en">Consolidated after acquisition the company</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsolidatedAfterAcquisition_lbl" xml:lang="en">Consolidated after acquisition</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsolidatedAfterAcquisition_lbl" xml:lang="en-US">Consolidated after acquisition</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en">Consortium [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en-US">Consortium [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en-US">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en">Consortium [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumAxis_lbl" xml:lang="en-US">Consortium [Axis]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ConsortiumDomain" xlink:to="bbd_ConsortiumDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en">Consortium [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en-US">Consortium [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en-US">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en">Consortium [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumDomain_lbl" xml:lang="en-US">Consortium [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ConsortiumNetIncome" xlink:label="bbd_ConsortiumNetIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ConsortiumNetIncome" xlink:to="bbd_ConsortiumNetIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en">Consortium Net Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en-US">Consortium Net Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en-US">Consortium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en">Consortium - Net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumNetIncome_lbl" xml:lang="en-US">Consortium - Net income</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en">Consortium Net Income Is Distributed To The Consortiums Members [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en-US">Consortium Net Income Is Distributed To The Consortiums Members [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en">Net income is distributed to the consortium&#39;s members</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en-US">Net income is distributed to the consortium&#39;s members</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en">Consortium - Net income is distributed to the consortium&#39;s members [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember_lbl" xml:lang="en-US">Consortium - Net income is distributed to the consortium&#39;s members [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en">Consortium Remaining Monthly Income Is Retained By The Lead Insurer Over The Year And Transferred To The Members Of The Consortium At The Start Of The Following Year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en-US">Consortium Remaining Monthly Income Is Retained By The Lead Insurer Over The Year And Transferred To The Members Of The Consortium At The Start Of The Following Year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en">Remaining monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en-US">Remaining monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en">Consortium - Remaining monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember_lbl" xml:lang="en-US">Consortium - Remaining monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues_lbl" xml:lang="en-US">Consortium Which Nature And Involvement Is Related To Generation Management Fees Of Consortium Quotas Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues_lbl" xml:lang="en">Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues_lbl" xml:lang="en-US">Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues_lbl" xml:lang="en">Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues_lbl" xml:lang="en-US">Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionAxis" xlink:to="bbd_ContributionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en">Contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en-US">Contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en-US">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en">Contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionAxis_lbl" xml:lang="en-US">Contribution [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionDomain" xlink:to="bbd_ContributionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en">Contribution [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en-US">Contribution [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en-US">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en">Contribution [Doamin]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionDomain_lbl" xml:lang="en-US">Contribution [Doamin]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionIncreaseToMember" xlink:to="bbd_ContributionIncreaseToMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en">Contribution Increase To [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en-US">Contribution Increase To [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en">Increase to</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en-US">Increase to</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en">Contribution - Increase to [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionIncreaseToMember_lbl" xml:lang="en-US">Contribution - Increase to [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionMember" xlink:label="bbd_ContributionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionMember" xlink:to="bbd_ContributionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionMember_lbl" xml:lang="en">Contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionMember_lbl" xml:lang="en-US">Contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionMember_lbl" xml:lang="en">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionMember_lbl" xml:lang="en-US">Contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionMember_lbl" xml:lang="en">Contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionMember_lbl" xml:lang="en-US">Contribution [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionsAxis" xlink:label="bbd_ContributionsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionsAxis" xlink:to="bbd_ContributionsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en">Contributions [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en-US">Contributions [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en">Contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en-US">Contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en">Contributions [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsAxis_lbl" xml:lang="en-US">Contributions [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionsDomain" xlink:label="bbd_ContributionsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionsDomain" xlink:to="bbd_ContributionsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en">Contributions [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en-US">Contributions [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en">Contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en-US">Contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en">Contributions [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsDomain_lbl" xml:lang="en-US">Contributions [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember" xlink:to="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en">Contributions From Bradesco And Its Subsidiaries Increased [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en-US">Contributions From Bradesco And Its Subsidiaries Increased [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en">Contributions from Bradesco and its subsidiaries increased</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en-US">Contributions from Bradesco and its subsidiaries increased</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en">Contributions from Bradesco and its subsidiaries increased [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsFromBradescoAndItsSubsidiariesIncreasedMember_lbl" xml:lang="en-US">Contributions from Bradesco and its subsidiaries increased [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionsReceivedAbstract" xlink:label="bbd_ContributionsReceivedAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionsReceivedAbstract" xlink:to="bbd_ContributionsReceivedAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en">Contributions Received [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en-US">Contributions Received [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en">Contributions received:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en-US">Contributions received:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en">Contributions received:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsReceivedAbstract_lbl" xml:lang="en-US">Contributions received:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ContributionsSupplementaryPensionPlan" xlink:label="bbd_ContributionsSupplementaryPensionPlan" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ContributionsSupplementaryPensionPlan" xlink:to="bbd_ContributionsSupplementaryPensionPlan_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en">Contributions Supplementary Pension Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en-US">Contributions Supplementary Pension Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en">Contributions - Supplementary Pension Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en-US">Contributions - Supplementary Pension Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en">Contributions - Supplementary Pension Plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ContributionsSupplementaryPensionPlan_lbl" xml:lang="en-US">Contributions - Supplementary Pension Plan</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ControlOfTheCompanyWillBeSharedCapital" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ControlOfTheCompanyWillBeSharedCapital" xlink:to="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en">Control Of The Company Will Be Shared Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en-US">Control Of The Company Will Be Shared Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en">Control of the company will be shared - Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en-US">Control of the company will be shared - Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en">Control of the company will be shared - Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ControlOfTheCompanyWillBeSharedCapital_lbl" xml:lang="en-US">Control of the company will be shared - Capital</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ControllersMember" xlink:label="bbd_ControllersMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ControllersMember" xlink:to="bbd_ControllersMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ControllersMember_lbl" xml:lang="en">Controllers [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ControllersMember_lbl" xml:lang="en-US">Controllers [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ControllersMember_lbl" xml:lang="en">Controllers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ControllersMember_lbl" xml:lang="en-US">Controllers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ControllersMember_lbl" xml:lang="en">Controllers [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ControllersMember_lbl" xml:lang="en-US">Controllers [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditAssignedLoans" xlink:label="bbd_CreditAssignedLoans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditAssignedLoans" xlink:to="bbd_CreditAssignedLoans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en">Credit Assigned Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en-US">Credit Assigned Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en">Credit assigned loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en-US">Credit assigned loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en">Credit assigned loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditAssignedLoans_lbl" xml:lang="en-US">Credit assigned loans</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditAssignedLoansWhoseSaleValue" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditAssignedLoansWhoseSaleValue" xlink:to="bbd_CreditAssignedLoansWhoseSaleValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en">Credit Assigned Loans Whose Sale Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en-US">Credit Assigned Loans Whose Sale Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en">Credit assigned loans - Whose sale value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en-US">Credit assigned loans - Whose sale value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en">Credit assigned loans - Whose sale value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditAssignedLoansWhoseSaleValue_lbl" xml:lang="en-US">Credit assigned loans - Whose sale value</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale" xlink:to="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en">Credit Operations Transferred To Noncurrent Assets Held For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en-US">Credit Operations Transferred To Noncurrent Assets Held For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en">Credit operations transferred to non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en-US">Credit operations transferred to non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en">Credit operations transferred to non-current assets held for sale.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale_lbl" xml:lang="en-US">Credit operations transferred to non-current assets held for sale.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditRiskExposure" xlink:label="bbd_CreditRiskExposure" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditRiskExposure" xlink:to="bbd_CreditRiskExposure_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en">Credit Risk Exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en-US">Credit Risk Exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en-US">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposure_lbl" xml:lang="en-US">Credit risk exposure</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditRiskExposureAxis" xlink:label="bbd_CreditRiskExposureAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditRiskExposureAxis" xlink:to="bbd_CreditRiskExposureAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en">Credit Risk Exposure [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en-US">Credit Risk Exposure [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en-US">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en">Credit risk exposure [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureAxis_lbl" xml:lang="en-US">Credit risk exposure [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditRiskExposureDomain" xlink:label="bbd_CreditRiskExposureDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditRiskExposureDomain" xlink:to="bbd_CreditRiskExposureDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en">Credit Risk Exposure [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en-US">Credit Risk Exposure [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en-US">Credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en">Credit risk exposure [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureDomain_lbl" xml:lang="en-US">Credit risk exposure [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditRiskExposureLoansAndAdvances" xlink:label="bbd_CreditRiskExposureLoansAndAdvances" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditRiskExposureLoansAndAdvances" xlink:to="bbd_CreditRiskExposureLoansAndAdvances_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en">Credit Risk Exposure Loans And Advances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en-US">Credit Risk Exposure Loans And Advances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en">Loans and advances, which despite being past due, do not provide indications of possible impairment - Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en-US">Loans and advances, which despite being past due, do not provide indications of possible impairment - Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en">Credit risk exposure - Loans and advances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureLoansAndAdvances_lbl" xml:lang="en-US">Credit risk exposure - Loans and advances</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers" xlink:to="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en">Credit Risk Exposure The Portfolio Of Loans And Advances To Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Credit Risk Exposure The Portfolio Of Loans And Advances To Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en">Portfolio of loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Portfolio of loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en">Credit risk exposure - The portfolio of loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Credit risk exposure - The portfolio of loans and advances to customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrencySwapsAxis" xlink:label="bbd_CurrencySwapsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrencySwapsAxis" xlink:to="bbd_CurrencySwapsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en">Currency Swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en-US">Currency Swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en-US">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en">Currency swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsAxis_lbl" xml:lang="en-US">Currency swaps [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrencySwapsDomain" xlink:label="bbd_CurrencySwapsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrencySwapsDomain" xlink:to="bbd_CurrencySwapsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en">Currency Swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en-US">Currency Swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en-US">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en">Currency swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsDomain_lbl" xml:lang="en-US">Currency swaps [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrencySwapsMember" xlink:label="bbd_CurrencySwapsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrencySwapsMember" xlink:to="bbd_CurrencySwapsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en">Currency Swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en-US">Currency Swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en-US">Currency swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en">Currency swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrencySwapsMember_lbl" xml:lang="en-US">Currency swaps [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentBestEstimatesAbstract" xlink:label="bbd_CurrentBestEstimatesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentBestEstimatesAbstract" xlink:to="bbd_CurrentBestEstimatesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en">Current Best Estimates [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en-US">Current Best Estimates [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en">Current best estimates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en-US">Current best estimates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en">Current best estimates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentBestEstimatesAbstract_lbl" xml:lang="en-US">Current best estimates</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatesAxis" xlink:label="bbd_CurrentRatesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatesAxis" xlink:to="bbd_CurrentRatesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en">Current Rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en-US">Current Rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en">Current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en-US">Current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en">Current rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesAxis_lbl" xml:lang="en-US">Current rates [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatesDomain" xlink:label="bbd_CurrentRatesDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatesDomain" xlink:to="bbd_CurrentRatesDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en">Current Rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en-US">Current Rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en">Current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en-US">Current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en">Current rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesDomain_lbl" xml:lang="en-US">Current rates [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatesIncomeTaxMember" xlink:label="bbd_CurrentRatesIncomeTaxMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatesIncomeTaxMember" xlink:to="bbd_CurrentRatesIncomeTaxMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en">Current Rates Income Tax [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en-US">Current Rates Income Tax [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en">Income tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en-US">Income tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en">Current rates: Income tax [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesIncomeTaxMember_lbl" xml:lang="en-US">Current rates: Income tax [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatesSocialContributionInsuranceIndustryMember" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatesSocialContributionInsuranceIndustryMember" xlink:to="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en">Current Rates Social Contribution Insurance Industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en-US">Current Rates Social Contribution Insurance Industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en">Social contribution - Insurance industry</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en-US">Social contribution - Insurance industry</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en">Current rates: Social contribution - Insurance industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesSocialContributionInsuranceIndustryMember_lbl" xml:lang="en-US">Current rates: Social contribution - Insurance industry [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatesSocialContributionMember" xlink:label="bbd_CurrentRatesSocialContributionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatesSocialContributionMember" xlink:to="bbd_CurrentRatesSocialContributionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en">Current Rates Social Contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en-US">Current Rates Social Contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en-US">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en">Current rates: Social contribution [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatesSocialContributionMember_lbl" xml:lang="en-US">Current rates: Social contribution [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentRatessocialContributionOtherCompaniesMember" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentRatessocialContributionOtherCompaniesMember" xlink:to="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en">Current Ratessocial Contribution Other Companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en-US">Current Ratessocial Contribution Other Companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en">Social contribution - Other companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en-US">Social contribution - Other companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en">Current rates:Social contribution - Other companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentRatessocialContributionOtherCompaniesMember_lbl" xml:lang="en-US">Current rates:Social contribution - Other companies [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentTaxesAbstract" xlink:label="bbd_CurrentTaxesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentTaxesAbstract" xlink:to="bbd_CurrentTaxesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en">Current Taxes [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en-US">Current Taxes [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en">Current taxes:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en-US">Current taxes:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en">Current taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentTaxesAbstract_lbl" xml:lang="en-US">Current taxes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_CurrentTaxesIncomeTaxAndSocialContributionDue" xlink:label="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue" xlink:to="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue_lbl" xml:lang="en">Current Taxes Income Tax And Social Contribution Due</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue_lbl" xml:lang="en-US">Current Taxes Income Tax And Social Contribution Due</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue_lbl" xml:lang="en-US">Current taxes - Income tax and social contribution due</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_CurrentTaxesIncomeTaxAndSocialContributionDue_lbl" xml:lang="en-US">Income tax and social contribution payable</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DailyHypotheticalAndEffectivePLAxis_lbl" xml:lang="en-US">Daily Hypothetical And Effective PL [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLAxis_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLAxis_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLAxis_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLAxis_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DailyHypotheticalAndEffectivePLDomain_lbl" xml:lang="en-US">Daily Hypothetical And Effective PL [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLDomain_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLDomain_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLDomain_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLDomain_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember_lbl" xml:lang="en-US">Daily Hypothetical And Effective PL Over The Last 250 Business Days [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L over the last 250 business days</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L over the last 250 business days</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember_lbl" xml:lang="en">Daily hypothetical and effective P&amp;L over the last 250 business days [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember_lbl" xml:lang="en-US">Daily hypothetical and effective P&amp;L over the last 250 business days [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Data Processing Systems And Financial Leasing Of Data Processing Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en">Data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en">Data processing systems and Financial leasing of data processing systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Data processing systems and Financial leasing of data processing systems [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DataProcessingSystemsMember" xlink:to="bbd_DataProcessingSystemsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en">Data Processing Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en-US">Data Processing Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en">Data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en-US">Data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en">Data processing systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DataProcessingSystemsMember_lbl" xml:lang="en-US">Data processing systems [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredAcquisitionCostInsurance" xlink:to="bbd_DeferredAcquisitionCostInsurance_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostInsurance_lbl" xml:lang="en-US">Deferred Acquisition Cost Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostInsurance_lbl" xml:lang="en">Deferred acquisition cost (insurance)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostInsurance_lbl" xml:lang="en-US">Deferred acquisition cost (insurance)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostInsurance_lbl" xml:lang="en">Deferred acquisition cost (insurance).</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostInsurance_lbl" xml:lang="en-US">Deferred acquisition cost (insurance).</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en">Deferred Acquisition Cost Ppng Reducers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en-US">Deferred Acquisition Cost Ppng Reducers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en">(-) Deferred acquisition cost PPNG reducers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en-US">(-) Deferred acquisition cost PPNG reducers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en">(-) Deferred acquisition cost PPNG reducers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostPpngReducers_lbl" xml:lang="en-US">(-) Deferred acquisition cost PPNG reducers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en">Deferred Acquisition Costs [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en-US">Deferred Acquisition Costs [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en">Deferred acquisition costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en-US">Deferred acquisition costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en">Deferred acquisition costs [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsAxis_lbl" xml:lang="en-US">Deferred acquisition costs [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsContractsTotalingMember_lbl" xml:lang="en-US">Deferred Acquisition Costs Contracts Totaling [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsContractsTotalingMember_lbl" xml:lang="en">Contracts totaling</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsContractsTotalingMember_lbl" xml:lang="en-US">Contracts totaling</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsContractsTotalingMember_lbl" xml:lang="en">Deferred acquisition costs: Contracts totaling [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsContractsTotalingMember_lbl" xml:lang="en-US">Deferred acquisition costs: Contracts totaling [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en">Deferred Acquisition Costs [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en-US">Deferred Acquisition Costs [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en">Deferred acquisition costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en-US">Deferred acquisition costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en">Deferred acquisition costs [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsDomain_lbl" xml:lang="en-US">Deferred acquisition costs [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en">Deferred Acquisition Costs For An Initial Period [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en-US">Deferred Acquisition Costs For An Initial Period [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en">For an initial period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en-US">For an initial period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en">Deferred acquisition costs: For an initial period [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredAcquisitionCostsForAnInitialPeriodMember_lbl" xml:lang="en-US">Deferred acquisition costs: For an initial period [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredAcquisitionCostsForTheInitialPeriodMember_lbl" xml:lang="en">Deferred Acquisition Costs For The Initial Period [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets" xlink:to="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en">Deferred Tax Liabilities Adjustment To Market Values Of Financial Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en-US">Deferred Tax Liabilities Adjustment To Market Values Of Financial Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en">Adjustment to market value of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en-US">Adjustment to market value of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en">Deferred tax liabilities - Adjustment to market values of financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets_lbl" xml:lang="en-US">Deferred tax liabilities - Adjustment to market values of financial assets</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers" xlink:to="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en">Deferred Tax Liabilities Judicial Deposit And Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en-US">Deferred Tax Liabilities Judicial Deposit And Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en">Judicial deposit and others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en-US">Judicial deposit and others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en">Deferred tax liabilities - Judicial deposit and others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers_lbl" xml:lang="en-US">Deferred tax liabilities - Judicial deposit and others</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DeferredTaxLiabilitiesTextBlock" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxLiabilitiesTextBlock" xlink:to="bbd_DeferredTaxLiabilitiesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en">Deferred Tax Liabilities Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en-US">Deferred Tax Liabilities Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en">Deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en">Deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesTextBlock_lbl" xml:lang="en-US">Deferred tax liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing" xlink:to="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en">Deferred Tax Liabilities Timing Differences Of Depreciation Finance Leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en-US">Deferred Tax Liabilities Timing Differences Of Depreciation Finance Leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en">Timing differences of depreciation - finance leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en-US">Timing differences of depreciation - finance leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en">Deferred tax liabilities - Timing differences of depreciation - finance leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing_lbl" xml:lang="en-US">Deferred tax liabilities - Timing differences of depreciation - finance leasing</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DeferredTaxesAbstract" xlink:label="bbd_DeferredTaxesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxesAbstract" xlink:to="bbd_DeferredTaxesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en">Deferred Taxes [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en-US">Deferred Taxes [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en">Deferred taxes:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en-US">Deferred taxes:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en">Deferred taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxesAbstract_lbl" xml:lang="en-US">Deferred taxes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences" xlink:to="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en">Deferred Taxes Net Additionrealization Of Temporary Differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en-US">Deferred Taxes Net Additionrealization Of Temporary Differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en">Deferred taxes - Net Addition/(realization) of temporary differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en-US">Deferred taxes - Net Addition/(realization) of temporary differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en">Net Addition/(realization) of temporary differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences_lbl" xml:lang="en-US">Net Addition/(realization) of temporary differences</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsFromBanksAbstract" xlink:label="bbd_DepositsFromBanksAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsFromBanksAbstract" xlink:to="bbd_DepositsFromBanksAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en">Deposits from banks [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en-US">Deposits from banks [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en-US">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en">Deposits from banks [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksAbstract_lbl" xml:lang="en-US">Deposits from banks [Abstract]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsFromBanksDemandDeposits" xlink:label="bbd_DepositsFromBanksDemandDeposits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsFromBanksDemandDeposits" xlink:to="bbd_DepositsFromBanksDemandDeposits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en">Deposits From Banks Demand Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en-US">Deposits From Banks Demand Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en">Demand deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en-US">Demand deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en">Deposits from banks - Demand deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksDemandDeposits_lbl" xml:lang="en-US">Deposits from banks - Demand deposits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsFromBanksInterbankDeposits" xlink:label="bbd_DepositsFromBanksInterbankDeposits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsFromBanksInterbankDeposits" xlink:to="bbd_DepositsFromBanksInterbankDeposits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en">Deposits From Banks Interbank Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en-US">Deposits From Banks Interbank Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en">Interbank deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en-US">Interbank deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en">Deposits from banks - Interbank deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksInterbankDeposits_lbl" xml:lang="en-US">Deposits from banks - Interbank deposits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsFromBanksOnlending" xlink:label="bbd_DepositsFromBanksOnlending" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsFromBanksOnlending" xlink:to="bbd_DepositsFromBanksOnlending_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en">Deposits From Banks Onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en-US">Deposits From Banks Onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en">Onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en-US">Onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en">Deposits from banks - Onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksOnlending_lbl" xml:lang="en-US">Deposits from banks - Onlending</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsFromBanksTablesAbstract" xlink:label="bbd_DepositsFromBanksTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsFromBanksTablesAbstract" xlink:to="bbd_DepositsFromBanksTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksTablesAbstract_lbl" xml:lang="en">Deposits from banks (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsFromBanksTablesAbstract_lbl" xml:lang="en-US">Deposits from banks (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksTablesAbstract_lbl" xml:lang="en">Deposits from banks (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsFromBanksTablesAbstract_lbl" xml:lang="en-US">Deposits from banks (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepositsRetainedAtIrbAndCourtDeposits" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepositsRetainedAtIrbAndCourtDeposits" xlink:to="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en">Deposits Retained At Irb And Court Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en-US">Deposits Retained At Irb And Court Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en">(-) Deposits retained at IRB and court deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en-US">(-) Deposits retained at IRB and court deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en">(-) Deposits retained at IRB and court deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DepositsRetainedAtIrbAndCourtDeposits_lbl" xml:lang="en-US">(-) Deposits retained at IRB and court deposits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_DepreciationAmortizationTextBlock" xlink:label="bbd_DepreciationAmortizationTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_DepreciationAmortizationTextBlock" xlink:to="bbd_DepreciationAmortizationTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepreciationAmortizationTextBlock_lbl" xml:lang="en">Depreciation Amortization Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DepreciationAmortizationTextBlock_lbl" xml:lang="en-US">Depreciation Amortization Text Block</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DerivativeFinancialInstrumentsAssetsMember_lbl" xml:lang="en-US">Derivative Financial Instruments Assets [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DerivativeFinancialInstrumentsAxis_lbl" xml:lang="en-US">Derivative Financial Instruments [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DerivativeFinancialInstrumentsAxis_lbl" xml:lang="en-US">Derivative financial instruments</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DerivativeFinancialInstrumentsAxis_lbl" xml:lang="en-US">Derivative financial instruments [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DerivativeFinancialInstrumentsDomain_lbl" xml:lang="en-US">Derivative Financial Instruments [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DerivativeFinancialInstrumentsDomain_lbl" xml:lang="en-US">Derivative financial instruments [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsAndInterestOnEquityDeclaredButNotYetPaid_lbl" xml:lang="en-US">Dividends and interest on equity declared but not yet paid.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesAxis_lbl" xml:lang="en">Dividends On Shares [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesAxis_lbl" xml:lang="en-US">Dividends On Shares [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesAxis_lbl" xml:lang="en">Dividends on shares [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesAxis_lbl" xml:lang="en-US">Dividends on shares [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en">Dividends On Shares [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en-US">Dividends On Shares [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en">Dividends on shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en-US">Dividends on shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en">Dividends on shares [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesDomain_lbl" xml:lang="en-US">Dividends on shares [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember_lbl" xml:lang="en-US">Dividends On Shares Of The Annual Net Income In Accordance With The The Companys Bylaws [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember_lbl" xml:lang="en">Of the annual net income, in accordance with the the Company&#8217;s Bylaws</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember_lbl" xml:lang="en-US">Of the annual net income, in accordance with the the Company&#8217;s Bylaws</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember_lbl" xml:lang="en">Dividends on shares - Of the annual net income, in accordance with the the Company&#39;s Bylaws [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember_lbl" xml:lang="en-US">Dividends on shares - Of the annual net income, in accordance with the the Company&#39;s Bylaws [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en">Dividends On Shares The Right To Receive Minimum Dividend Per Share [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en-US">Dividends On Shares The Right To Receive Minimum Dividend Per Share [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en">The right to receive a minimum dividend per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en-US">The right to receive a minimum dividend per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en">Dividends on shares - The right to receive a minimum dividend per share [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember_lbl" xml:lang="en-US">Dividends on shares - The right to receive a minimum dividend per share [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EarningsLossesOfAssociatesAndJointVentures" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures_lbl" xml:lang="en-US">Earnings Losses Of Associates And Joint Ventures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures_lbl" xml:lang="en">Earnings (losses) of associates and joint ventures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures_lbl" xml:lang="en-US">Earnings (losses) of associates and joint ventures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures_lbl" xml:lang="en">Earnings (losses) of associates and joint ventures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EarningsLossesOfAssociatesAndJointVentures_lbl" xml:lang="en-US">Earnings (losses) of associates and joint ventures</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EarningsPerShareDetailsTextAbstract" xlink:label="bbd_EarningsPerShareDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EarningsPerShareDetailsTextAbstract" xlink:to="bbd_EarningsPerShareDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en">Earnings Per Share Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en-US">Earnings Per Share Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en">Earnings per share (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en-US">Earnings per share (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en">Earnings per share (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EarningsPerShareDetailsTextAbstract_lbl" xml:lang="en-US">Earnings per share (Details Text)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract" xlink:to="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en">Effect Of Additions And Exclusions In The Tax Calculation [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en-US">Effect Of Additions And Exclusions In The Tax Calculation [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en">Effect of additions and exclusions in the tax calculation:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en-US">Effect of additions and exclusions in the tax calculation:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en">Effect of additions and exclusions in the tax calculation:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract_lbl" xml:lang="en-US">Effect of additions and exclusions in the tax calculation:</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative" xlink:to="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en">Effect On The Calculation Of Required Shareholders Equity Of Negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en-US">Effect On The Calculation Of Required Shareholders Equity Of Negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en">Effect on the calculation of required shareholders&#39; equity of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en-US">Effect on the calculation of required shareholders&#39; equity of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en">Effect on the calculation of required shareholders&#39; equity of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative_lbl" xml:lang="en-US">Effect on the calculation of required shareholders&#39; equity of negative</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EffectOnThePresentValueOfTheObligations" xlink:to="bbd_EffectOnThePresentValueOfTheObligations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en">Effect On The Present Value Of The Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en-US">Effect On The Present Value Of The Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en">Effect on the present value of the obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en-US">Effect on the present value of the obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en">Effect on the present value of the obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EffectOnThePresentValueOfTheObligations_lbl" xml:lang="en-US">Effect on the present value of the obligations</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate_lbl" xml:lang="en-US">Equalization of the effective rate of social contribution in relation to the rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate_lbl" xml:lang="en">Equalization of the effective rate of social contribution in relation to the rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate_lbl" xml:lang="en-US">Equalization of the effective rate of social contribution in relation to the rate</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Equities_lbl" xml:lang="en">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Equities_lbl" xml:lang="en-US">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Equities_lbl" xml:lang="en">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Equities_lbl" xml:lang="en-US">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Equities_lbl" xml:lang="en">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Equities_lbl" xml:lang="en-US">Equities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityDetailsTextAbstract" xlink:to="bbd_EquityDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en">Equity Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en-US">Equity Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en">Equity (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en-US">Equity (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en">Equity (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityDetailsTextAbstract_lbl" xml:lang="en-US">Equity (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes" xlink:to="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en">Equity Investments Classified As Available For Sale With Fair Value Held For Longterm Strategic Purposes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en-US">Equity Investments Classified As Available For Sale With Fair Value Held For Longterm Strategic Purposes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en">Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en-US">Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en">Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes_lbl" xml:lang="en-US">Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityParticipationAbstract" xlink:label="bbd_EquityParticipationAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityParticipationAbstract" xlink:to="bbd_EquityParticipationAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en">Equity Participation [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en-US">Equity Participation [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en">Equity participation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en-US">Equity participation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en">Equity participation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationAbstract_lbl" xml:lang="en-US">Equity participation</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityParticipationCommonShares" xlink:label="bbd_EquityParticipationCommonShares" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityParticipationCommonShares" xlink:to="bbd_EquityParticipationCommonShares_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en">Equity Participation Common Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en-US">Equity Participation Common Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en">Common shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en-US">Common shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en">Equity participation - Common shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationCommonShares_lbl" xml:lang="en-US">Equity participation - Common shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityParticipationPreferredShares" xlink:label="bbd_EquityParticipationPreferredShares" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityParticipationPreferredShares" xlink:to="bbd_EquityParticipationPreferredShares_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en">Equity Participation Preferred Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en-US">Equity Participation Preferred Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en">Preferred shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en-US">Preferred shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en">Equity participation - Preferred shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationPreferredShares_lbl" xml:lang="en-US">Equity participation - Preferred shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityParticipationTotalShares" xlink:label="bbd_EquityParticipationTotalShares" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityParticipationTotalShares" xlink:to="bbd_EquityParticipationTotalShares_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en">Equity Participation Total Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en-US">Equity Participation Total Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en">Total shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en-US">Total shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en">Equity participation - Total shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityParticipationTotalShares_lbl" xml:lang="en-US">Equity participation - Total shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityStake" xlink:label="bbd_EquityStake" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityStake" xlink:to="bbd_EquityStake_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStake_lbl" xml:lang="en">Equity Stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStake_lbl" xml:lang="en-US">Equity Stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStake_lbl" xml:lang="en">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStake_lbl" xml:lang="en-US">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStake_lbl" xml:lang="en">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStake_lbl" xml:lang="en-US">Equity stake</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityStakeAxis" xlink:label="bbd_EquityStakeAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityStakeAxis" xlink:to="bbd_EquityStakeAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en">Equity Stake [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en-US">Equity Stake [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en-US">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en">Equity stake [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeAxis_lbl" xml:lang="en-US">Equity stake [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityStakeBradescoSegurosMember" xlink:label="bbd_EquityStakeBradescoSegurosMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityStakeBradescoSegurosMember" xlink:to="bbd_EquityStakeBradescoSegurosMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en">Equity Stake Bradesco Seguros [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en-US">Equity Stake Bradesco Seguros [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en">Bradesco Seguros</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en-US">Bradesco Seguros</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en">Equity stake - Bradesco Seguros [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeBradescoSegurosMember_lbl" xml:lang="en-US">Equity stake - Bradesco Seguros [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityStakeDomain" xlink:label="bbd_EquityStakeDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityStakeDomain" xlink:to="bbd_EquityStakeDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en">Equity Stake [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en-US">Equity Stake [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en-US">Equity stake</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en">Equity stake [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeDomain_lbl" xml:lang="en-US">Equity stake [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EquityStakeSwissReCorsoMember" xlink:label="bbd_EquityStakeSwissReCorsoMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EquityStakeSwissReCorsoMember" xlink:to="bbd_EquityStakeSwissReCorsoMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en">Equity Stake Swiss Re Corso [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en-US">Equity Stake Swiss Re Corso [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en">Swiss Re Corso</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en-US">Swiss Re Corso</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en">Equity stake - Swiss Re Corso [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EquityStakeSwissReCorsoMember_lbl" xml:lang="en-US">Equity stake - Swiss Re Corso [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EstimatedExposureToCreditRisk" xlink:label="bbd_EstimatedExposureToCreditRisk" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EstimatedExposureToCreditRisk" xlink:to="bbd_EstimatedExposureToCreditRisk_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en">Estimated Exposure To Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en-US">Estimated Exposure To Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en">Estimated Exposure to Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en-US">Estimated Exposure to Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en">Estimated Exposure to Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_EstimatedExposureToCreditRisk_lbl" xml:lang="en-US">Estimated Exposure to Credit Risk</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_EstimatesAndJudgmentsDetailsTextAbstract" xlink:label="bbd_EstimatesAndJudgmentsDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_EstimatesAndJudgmentsDetailsTextAbstract" xlink:to="bbd_EstimatesAndJudgmentsDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EstimatesAndJudgmentsDetailsTextAbstract_lbl" xml:lang="en">Estimates And Judgments Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_EstimatesAndJudgmentsDetailsTextAbstract_lbl" xml:lang="en-US">Estimates And Judgments Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_EstimatesAndJudgmentsDetailsTextAbstract_lbl" xml:lang="en">Estimates and judgments (Details Text)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueMember_lbl" xml:lang="en-US">Fair Value [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueMember_lbl" xml:lang="en">Fair Value [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueMember_lbl" xml:lang="en-US">Fair Value [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en">Fair Value Of Financial Assets And Liabilities Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en-US">Fair Value Of Financial Assets And Liabilities Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en-US">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en">Total</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en">Fair value of financial assets and liabilities - Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal_lbl" xml:lang="en-US">Fair value of financial assets and liabilities - Total</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels_lbl" xml:lang="en-US">Fair Value Of Financial Assets And Liabilities Transfer Levels</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels_lbl" xml:lang="en">Transfer levels</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels_lbl" xml:lang="en-US">Transfer levels</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels_lbl" xml:lang="en">Fair value of financial assets and liabilities - Transfer levels</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels_lbl" xml:lang="en-US">Fair value of financial assets and liabilities - Transfer levels</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories_lbl" xml:lang="en-US">Fair Value Of Financial Assets And Liabilities Transfer With Categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories_lbl" xml:lang="en">Transfer with categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories_lbl" xml:lang="en-US">Transfer with categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories_lbl" xml:lang="en">Fair value of financial assets and liabilities - Transfer with categories</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories_lbl" xml:lang="en-US">Fair value of financial assets and liabilities - Transfer with categories</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en">Fair Value Of Financial Assets And Liabilities Writeoffs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en-US">Fair Value Of Financial Assets And Liabilities Writeoffs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en">Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en-US">Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en">Fair value of financial assets and liabilities - Write-offs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs_lbl" xml:lang="en-US">Fair value of financial assets and liabilities - Write-offs</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed_lbl" xml:lang="en-US">Favorable Decision In The Process Of Social Security Contribution On The Remuneration Paid To Accredited Dentists Inss Of Selfemployed</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed_lbl" xml:lang="en">Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed_lbl" xml:lang="en-US">Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed_lbl" xml:lang="en">Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed_lbl" xml:lang="en-US">Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeCollectionOfTaxesUtilityBillsAndSimilar_lbl" xml:lang="en-US">Payments</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeCollections_lbl" xml:lang="en">Fee And Commission Income Collections</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeCollections_lbl" xml:lang="en">Collections</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeCollections_lbl" xml:lang="en-US">Collections</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeCollections_lbl" xml:lang="en">Fee and commission income - Collections</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeCollections_lbl" xml:lang="en-US">Fee and commission income - Collections</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeConsortiumManagement_lbl" xml:lang="en-US">Fee And Commission Income Consortium Management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeConsortiumManagement_lbl" xml:lang="en">Consortium management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeConsortiumManagement_lbl" xml:lang="en-US">Consortium management</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeConsortiumManagement_lbl" xml:lang="en-US">Fee and commission income - Consortium management</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeCurrentAccounts_lbl" xml:lang="en-US">Fee And Commission Income Current Accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeCurrentAccounts_lbl" xml:lang="en">Current accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeCurrentAccounts_lbl" xml:lang="en-US">Current accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeCurrentAccounts_lbl" xml:lang="en">Fee and commission income - Current accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeCurrentAccounts_lbl" xml:lang="en-US">Fee and commission income - Current accounts</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en">Fee And Commission Income Guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en-US">Fee And Commission Income Guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en">Guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en-US">Guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en">Fee and commission income - Guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeGuarantees_lbl" xml:lang="en-US">Fee and commission income - Guarantees</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FeeAndCommissionIncomeUnderwriting" xlink:to="bbd_FeeAndCommissionIncomeUnderwriting_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en">Fee And Commission Income Underwriting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en-US">Fee And Commission Income Underwriting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en">Underwriting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en-US">Underwriting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en">Fee and commission income - Underwriting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FeeAndCommissionIncomeUnderwriting_lbl" xml:lang="en-US">Fee and commission income - Underwriting</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FiftyLargestBorrowers" xlink:label="bbd_FiftyLargestBorrowers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FiftyLargestBorrowers" xlink:to="bbd_FiftyLargestBorrowers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en">Fifty Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en-US">Fifty Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en">50 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en-US">50 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en">Fifty largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FiftyLargestBorrowers_lbl" xml:lang="en-US">Fifty largest borrowers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetPledgedAsCollateralTextBlock" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetPledgedAsCollateralTextBlock" xlink:to="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en">Financial Asset Pledged As Collateral Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial Asset Pledged As Collateral Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en">Financial assets pledged as colateral.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial assets pledged as colateral.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract" xlink:to="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract" xlink:to="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en">Financial Assets And Liabilities Held For Trading Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en-US">Financial Assets And Liabilities Held For Trading Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading (Details Text)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract" xlink:to="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract_lbl" xml:lang="en">Financial assets and liabilities held for trading (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesHeldForTradingTablesAbstract_lbl" xml:lang="en-US">Financial assets and liabilities held for trading (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract" xlink:to="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Financial Assets And Liabilities Measured At Fair Value [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Financial Assets And Liabilities Measured At Fair Value [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Financial assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Financial assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Financial assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Financial assets and liabilities measured at fair value</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock" xlink:to="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en">Financial Assets And Liabilities Subject To Compensation Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en-US">Financial Assets And Liabilities Subject To Compensation Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en">Financial assets and liabilities subject to compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en-US">Financial assets and liabilities subject to compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en">Financial assets and liabilities subject to compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock_lbl" xml:lang="en-US">Financial assets and liabilities subject to compensation</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSale" xlink:label="bbd_FinancialAssetsAvailableForSale" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSale" xlink:to="bbd_FinancialAssetsAvailableForSale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en">Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en">Financial assets available for sale.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Financial assets available for sale.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract" xlink:to="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en">Financial Assets Available For Sale Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en-US">Financial Assets Available For Sale Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en">Financial assets available for sale (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets available for sale (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en">Financial assets available for sale (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets available for sale (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en-US">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Bank debt securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Brazilian government securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Brazilian sovereign bonds</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Corporate Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Corporate Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en">Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en-US">Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Corporate debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Corporate debt securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Foreign Governments Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Foreign Governments Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en">Foreign governments securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en-US">Foreign governments securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Foreign governments securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Foreign governments securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks" xlink:to="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en">Financial Assets Available For Sale Fair Value Marketable Equity Securities And Other Stocks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en-US">Financial Assets Available For Sale Fair Value Marketable Equity Securities And Other Stocks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en">Marketable equity securities and other stocks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en-US">Marketable equity securities and other stocks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en">Financial assets available for sale - Fair Value - Marketable equity securities and other stocks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks_lbl" xml:lang="en-US">Financial assets available for sale - Fair Value - Marketable equity securities and other stocks</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleMaturityAbstract" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleMaturityAbstract" xlink:to="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en">Financial Assets Available For Sale Maturity [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en-US">Financial Assets Available For Sale Maturity [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en">Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en-US">Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en">Financial assets available for sale - Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleMaturityAbstract_lbl" xml:lang="en-US">Financial assets available for sale - Maturity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember" xlink:to="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en">Financial Assets Available For Sale No Stated Maturity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en-US">Financial Assets Available For Sale No Stated Maturity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en">No stated maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en-US">No stated maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en">Financial assets available for sale - No stated maturity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember_lbl" xml:lang="en-US">Financial assets available for sale - No stated maturity [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities" xlink:to="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en">Financial Assets Available For Sale Pledged As Guarantee For Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en-US">Financial Assets Available For Sale Pledged As Guarantee For Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en">Financial assets available for sale pledged as a guarantee for liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en-US">Financial assets available for sale pledged as a guarantee for liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en">Financial assets available for sale pledged as a guarantee for liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities_lbl" xml:lang="en-US">Financial assets available for sale pledged as a guarantee for liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsAvailableForSaleTextBlock" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsAvailableForSaleTextBlock" xlink:to="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en">Financial Assets Available For Sale Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en-US">Financial Assets Available For Sale Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en">Financial assets available for sale.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsAvailableForSaleTextBlock_lbl" xml:lang="en-US">Financial assets available for sale.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract" xlink:to="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en">Financial Assets Financial Assets Pledged As Collateral [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Financial Assets Financial Assets Pledged As Collateral [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en">Financial assets - Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Financial assets - Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en">Financial assets - Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract_lbl" xml:lang="en-US">Financial assets - Financial assets pledged as collateral</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsHeldForTradingAbstract" xlink:label="bbd_FinancialAssetsHeldForTradingAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsHeldForTradingAbstract" xlink:to="bbd_FinancialAssetsHeldForTradingAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingAbstract_lbl" xml:lang="en">Financial Assets Held For Trading [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingAbstract_lbl" xml:lang="en-US">Financial Assets Held For Trading [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years_lbl" xml:lang="en-US">Maturity of over 10 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years_lbl" xml:lang="en">Financial assets held for trading - Maturity of over 10 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years_lbl" xml:lang="en-US">Financial assets held for trading - Maturity of over 10 years</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en">Financial Assets Held For Trading Maturity Of Up To One Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en-US">Financial Assets Held For Trading Maturity Of Up To One Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en">Maturity of up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en-US">Maturity of up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en">Financial assets held for trading - Maturity of up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear_lbl" xml:lang="en-US">Financial assets held for trading - Maturity of up to one year</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsHeldForTradingNoStatedMaturity" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en">Financial Assets Held For Trading No Stated Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en-US">Financial Assets Held For Trading No Stated Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en">Maturity not stated</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en-US">Maturity not stated</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en">Financial assets held for trading - No stated maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingNoStatedMaturity_lbl" xml:lang="en-US">Financial assets held for trading - No stated maturity</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsHeldForTradingTextBlock" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en">Financial Assets Held For Trading Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial Assets Held For Trading Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial assets held for trading</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsLoansAndReceivablesAbstract" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en">Financial Assets Loans And Receivables [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en-US">Financial Assets Loans And Receivables [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en">Loans and receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en-US">Loans and receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en">Financial assets - Loans and receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsLoansAndReceivablesAbstract_lbl" xml:lang="en-US">Financial assets - Loans and receivables</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateral" xlink:label="bbd_FinancialAssetsPledgedAsCollateral" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en">Financial Assets Pledged As Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateral_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en">Financial Assets Pledged As Collateral Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en">Financial assets pledged as collateral (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en">Financial assets pledged as collateral (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral (Details Text)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralFairValue" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsPledgedAsCollateralFairValue" xlink:to="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en">Financial Assets Pledged As Collateral Fair Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Fair Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en">Financial assets pledged as collateral - Fair Value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValue_lbl" xml:lang="en-US">Financial assets pledged as collateral - Fair Value</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en">Financial Assets Pledged As Collateral Fair Value Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Fair Value Bank Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en-US">Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en">Financial assets pledged as collateral - Fair Value - Bank debt securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities_lbl" xml:lang="en-US">Financial assets pledged as collateral - Fair Value - Bank debt securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities" xlink:to="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Financial Assets Pledged As Collateral Fair Value Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Fair Value Brazilian Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en">Financial assets pledged as collateral - Fair Value - Brazilian government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Financial assets pledged as collateral - Fair Value - Brazilian government securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds" xlink:to="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Financial Assets Pledged As Collateral Fair Value Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Fair Value Brazilian Sovereign Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en">Financial assets pledged as collateral - Fair Value - Brazilian sovereign bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds_lbl" xml:lang="en-US">Financial assets pledged as collateral - Fair Value - Brazilian sovereign bonds</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities_lbl" xml:lang="en">Financial Assets Pledged As Collateral Fair Value Corporate Debt Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Fair Value Corporate Debt Securities</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralMember_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralMember_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralMember_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralMember_lbl" xml:lang="en">Financial assets pledged as collateral [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralMember_lbl" xml:lang="en-US">Financial assets pledged as collateral [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralTablesAbstract" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTablesAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTablesAbstract_lbl" xml:lang="en">Financial assets pledged as collateral (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTablesAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral (Tables) [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTablesAbstract_lbl" xml:lang="en-US">Financial assets pledged as collateral (Tables) [Abstract].</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialAssetsPledgedAsCollateralTextBlock" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial Assets Pledged As Collateral Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock_lbl" xml:lang="en">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial assets pledged as collateral</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock_lbl" xml:lang="en">Financial assets pledged as colateral.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialAssetsPledgedAsCollateralTextBlock_lbl" xml:lang="en-US">Financial assets pledged as colateral.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialExposureTradingPortfolioFairValueAbstract_lbl" xml:lang="en">Financial Exposure Trading Portfolio Fair Value [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialExposureTradingPortfolioFairValueAbstract_lbl" xml:lang="en-US">Financial Exposure Trading Portfolio Fair Value [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialExposureTradingPortfolioFairValueAbstract_lbl" xml:lang="en-US">Financial Exposure - Trading Portfolio (Fair value)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialExposureTradingPortfolioFairValueAssetsMember_lbl" xml:lang="en-US">Financial Exposure Trading Portfolio Fair Value Assets [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialExposureTradingPortfolioFairValueAssetsMember_lbl" xml:lang="en">Assets</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en">Financial Leasing [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en-US">Financial Leasing [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en">Financial leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en-US">Financial leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en">Financial leasing [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingAxis_lbl" xml:lang="en-US">Financial leasing [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLeasingDomain" xlink:label="bbd_FinancialLeasingDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLeasingDomain" xlink:to="bbd_FinancialLeasingDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en">Financial Leasing [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en-US">Financial Leasing [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en">Financial leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en-US">Financial leasing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en">Financial leasing [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingDomain_lbl" xml:lang="en-US">Financial leasing [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLeasingDueWithinOneYearMember" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLeasingDueWithinOneYearMember" xlink:to="bbd_FinancialLeasingDueWithinOneYearMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en">Financial Leasing Due Within One Year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en-US">Financial Leasing Due Within One Year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en">Due within one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en-US">Due within one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en">Financial leasing: Due within one year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingDueWithinOneYearMember_lbl" xml:lang="en-US">Financial leasing: Due within one year [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLeasingFrom1To2YearsMember" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLeasingFrom1To2YearsMember" xlink:to="bbd_FinancialLeasingFrom1To2YearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en">Financial Leasing From 1 To 2 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en-US">Financial Leasing From 1 To 2 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en">From 1 to 2 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en-US">From 1 to 2 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en">Financial leasing: From 1 to 2 years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingFrom1To2YearsMember_lbl" xml:lang="en-US">Financial leasing: From 1 to 2 years [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLeasingFrom2To3YearsMember" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLeasingFrom2To3YearsMember" xlink:to="bbd_FinancialLeasingFrom2To3YearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en">Financial Leasing From 2 To 3 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en-US">Financial Leasing From 2 To 3 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en">From 2 to 3 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en-US">From 2 to 3 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en">Financial leasing: From 2 to 3 years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingFrom2To3YearsMember_lbl" xml:lang="en-US">Financial leasing: From 2 to 3 years [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLeasingOfDataProcessingSystemsMember" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLeasingOfDataProcessingSystemsMember" xlink:to="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en">Financial Leasing Of Data Processing Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Financial Leasing Of Data Processing Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en">Financial leasing of data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Financial leasing of data processing systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en">Financial leasing of data processing systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLeasingOfDataProcessingSystemsMember_lbl" xml:lang="en-US">Financial leasing of data processing systems [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesCapitalizationBonds" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesCapitalizationBonds" xlink:to="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en">Financial Liabilities Capitalization Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en-US">Financial Liabilities Capitalization Bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en">Capitalization bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en-US">Capitalization bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en">Financial liabilities - Capitalization bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesCapitalizationBonds_lbl" xml:lang="en-US">Financial liabilities - Capitalization bonds</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesCreditCardTransactions" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesCreditCardTransactions" xlink:to="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en">Financial Liabilities Credit Card Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en-US">Financial Liabilities Credit Card Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en">Credit card transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en-US">Credit card transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en">Financial liabilities - Credit card transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesCreditCardTransactions_lbl" xml:lang="en-US">Financial liabilities - Credit card transactions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesForeignExchangeTransactions" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesForeignExchangeTransactions" xlink:to="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en">Financial Liabilities Foreign Exchange Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en-US">Financial Liabilities Foreign Exchange Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en">Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en-US">Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en">Financial liabilities - Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesForeignExchangeTransactions_lbl" xml:lang="en-US">Financial liabilities - Foreign exchange transactions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesHeldForTradingAbstract" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesHeldForTradingAbstract" xlink:to="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en">Financial Liabilities Held For Trading [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en-US">Financial Liabilities Held For Trading [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en-US">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesHeldForTradingAbstract_lbl" xml:lang="en-US">Financial liabilities held for trading</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesHeldForTradingTextBlock" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesHeldForTradingTextBlock" xlink:to="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en">Financial Liabilities Held For Trading Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial Liabilities Held For Trading Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesHeldForTradingTextBlock_lbl" xml:lang="en-US">Financial liabilities held for trading</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialLiabilitiesSecuritiesTrading" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialLiabilitiesSecuritiesTrading" xlink:to="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en">Financial Liabilities Securities Trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en-US">Financial Liabilities Securities Trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en">Securities trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en-US">Securities trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en">Financial liabilities - Securities trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialLiabilitiesSecuritiesTrading_lbl" xml:lang="en-US">Financial liabilities - Securities trading</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialNotes" xlink:label="bbd_FinancialNotes" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialNotes" xlink:to="bbd_FinancialNotes_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en">Financial Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en-US">Financial Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en">Financial bills</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en-US">Financial bills</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en">Financial notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_FinancialNotes_lbl" xml:lang="en-US">Financial notes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_FinancialNotesAxis" xlink:label="bbd_FinancialNotesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_FinancialNotesAxis" xlink:to="bbd_FinancialNotesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialNotesAxis_lbl" xml:lang="en">Financial Notes [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_FinancialNotesAxis_lbl" xml:lang="en-US">Financial Notes [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GeneralInformationAbstract_lbl" xml:lang="en-US">General information [Abstract].</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GovernmentSecurities" xlink:label="bbd_GovernmentSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GovernmentSecurities" xlink:to="bbd_GovernmentSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en">Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en-US">Government Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en">Government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en-US">Government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en">Government securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GovernmentSecurities_lbl" xml:lang="en-US">Government securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract" xlink:to="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en">Gross Investments In Financial Leases Receivable [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en-US">Gross Investments In Financial Leases Receivable [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en">Gross investments in financial leases receivable:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en-US">Gross investments in financial leases receivable:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en">Gross investments in financial leases receivable:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract_lbl" xml:lang="en-US">Gross investments in financial leases receivable:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears" xlink:to="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en">Gross Investments In Financial Leases Receivable From One To Five Years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en-US">Gross Investments In Financial Leases Receivable From One To Five Years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en">From one to five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en-US">From one to five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en">Gross investments in financial leases receivable - From one to five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears_lbl" xml:lang="en-US">Gross investments in financial leases receivable - From one to five years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears" xlink:to="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en">Gross Investments In Financial Leases Receivable Over Five Years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en-US">Gross Investments In Financial Leases Receivable Over Five Years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en">Over five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en-US">Over five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en">Gross investments in financial leases receivable - Over five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears_lbl" xml:lang="en-US">Gross investments in financial leases receivable - Over five years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear" xlink:to="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en">Gross Investments In Financial Leases Receivable Up To One Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en-US">Gross Investments In Financial Leases Receivable Up To One Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en">Up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en-US">Up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en">Gross investments in financial leases receivable - Up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear_lbl" xml:lang="en-US">Gross investments in financial leases receivable - Up to one year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossUnrealizedGainsMember" xlink:label="bbd_GrossUnrealizedGainsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossUnrealizedGainsMember" xlink:to="bbd_GrossUnrealizedGainsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en">Gross Unrealized Gains [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en-US">Gross Unrealized Gains [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en">Gross unrealized gains</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en-US">Gross unrealized gains</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en">Gross unrealized gains [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossUnrealizedGainsMember_lbl" xml:lang="en-US">Gross unrealized gains [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GrossUnrealizedLossesMember" xlink:label="bbd_GrossUnrealizedLossesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GrossUnrealizedLossesMember" xlink:to="bbd_GrossUnrealizedLossesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en">Gross Unrealized Losses [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en-US">Gross Unrealized Losses [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en">Gross unrealized losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en-US">Gross unrealized losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en">Gross unrealized losses [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GrossUnrealizedLossesMember_lbl" xml:lang="en-US">Gross unrealized losses [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GuaranteesForTheTechnicalProvisionsAbstract" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GuaranteesForTheTechnicalProvisionsAbstract" xlink:to="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en">Guarantees For The Technical Provisions [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en-US">Guarantees For The Technical Provisions [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en-US">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsAbstract_lbl" xml:lang="en-US">Guarantees for the technical provisions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GuaranteesForTheTechnicalProvisionsTextBlock" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GuaranteesForTheTechnicalProvisionsTextBlock" xlink:to="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en">Guarantees For The Technical Provisions Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en-US">Guarantees For The Technical Provisions Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en-US">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en">Guarantees for the technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesForTheTechnicalProvisionsTextBlock_lbl" xml:lang="en-US">Guarantees for the technical provisions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_GuaranteesOfTechnicalReservesEquities" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_GuaranteesOfTechnicalReservesEquities" xlink:to="bbd_GuaranteesOfTechnicalReservesEquities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en">Guarantees Of Technical Reserves Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en-US">Guarantees Of Technical Reserves Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en">Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en-US">Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en">Guarantees of technical reserves - Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_GuaranteesOfTechnicalReservesEquities_lbl" xml:lang="en-US">Guarantees of technical reserves - Equities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_HealthAndDentalInsuranceAxis" xlink:label="bbd_HealthAndDentalInsuranceAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_HealthAndDentalInsuranceAxis" xlink:to="bbd_HealthAndDentalInsuranceAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en">Health And Dental Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en-US">Health And Dental Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en">Health and Dental Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en-US">Health and Dental Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en">Health and Dental Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HealthAndDentalInsuranceAxis_lbl" xml:lang="en-US">Health and Dental Insurance [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_HealthAndDentalInsuranceDomain" xlink:label="bbd_HealthAndDentalInsuranceDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_HealthAndDentalInsuranceDomain" xlink:to="bbd_HealthAndDentalInsuranceDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en">Health And Dental Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en-US">Health And Dental Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en">Health and Dental Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en-US">Health and Dental Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en">Health and Dental Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HealthAndDentalInsuranceDomain_lbl" xml:lang="en-US">Health and Dental Insurance [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember_lbl" xml:lang="en">Health And Dental Insurance The Mathematical Reserve For Unvested Benefits PMBAC [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember_lbl" xml:lang="en-US">Health And Dental Insurance The Mathematical Reserve For Unvested Benefits PMBAC [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember_lbl" xml:lang="en">The mathematical reserve for unvested benefits (PMBAC)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember_lbl" xml:lang="en-US">Health and Dental Insurance: The mathematical reserve for unvested benefits (PMBAC) [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveOfBenefitsGrantedPMBCMember_lbl" xml:lang="en">Health And Dental Insurance The Mathematical Reserve Of Benefits Granted PMBC [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HealthAndDentalInsuranceTheMathematicalReserveOfBenefitsGrantedPMBCMember_lbl" xml:lang="en-US">Health And Dental Insurance The Mathematical Reserve Of Benefits Granted PMBC [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HedgeDiSecurities_lbl" xml:lang="en-US">Hedge Di Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HedgeDiSecurities_lbl" xml:lang="en">Hedge DI securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HedgeDiSecurities_lbl" xml:lang="en-US">Hedge DI securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HedgeDiSecurities_lbl" xml:lang="en">Hedge DI securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HedgeDiSecurities_lbl" xml:lang="en-US">Hedge DI securities</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_HeldForTradingBrazilianGovernmentSecurities" xlink:label="bbd_HeldForTradingBrazilianGovernmentSecurities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HeldForTradingBrazilianGovernmentSecurities_lbl" xml:lang="en">Brazilian government securities</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HeldForTradingBrazilianGovernmentSecurities_lbl" xml:lang="en-US">Held for trading - Brazilian government securities</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_HighRiskMember" xlink:to="bbd_HighRiskMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en">High Risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en-US">High Risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en">High risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en-US">High risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en">High risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HighRiskMember_lbl" xml:lang="en-US">High risk [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en">Hundred Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en-US">Hundred Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en">100 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en-US">100 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en">Hundred largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_HundredLargestBorrowers_lbl" xml:lang="en-US">Hundred largest borrowers</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_IProjectedBenefitObligationsAbstract" xlink:label="bbd_IProjectedBenefitObligationsAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IProjectedBenefitObligationsAbstract_lbl" xml:lang="en">I Projected Benefit Obligations [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">I Projected Benefit Obligations [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">(i) Projected benefit obligations:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IProjectedBenefitObligationsAbstract_lbl" xml:lang="en">(i) Projected benefit obligations:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">(i) Projected benefit obligations:</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IiPlanAssetsCompriseAbstract_lbl" xml:lang="en">Ii Plan Assets Comprise [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IiPlanAssetsCompriseAbstract_lbl" xml:lang="en-US">Ii Plan Assets Comprise [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IiPlanAssetsCompriseAbstract_lbl" xml:lang="en">(ii) Plan assets comprise:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IiPlanAssetsCompriseAbstract_lbl" xml:lang="en-US">(ii) Plan assets comprise:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IiPlanAssetsCompriseAbstract_lbl" xml:lang="en">(ii) Plan assets comprise:</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IiiFinancialPositionAbstract_lbl" xml:lang="en">Iii Financial Position [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IiiFinancialPositionAbstract_lbl" xml:lang="en-US">Iii Financial Position [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IiiFinancialPositionAbstract_lbl" xml:lang="en-US">(iii) Financial position:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IiiFinancialPositionAbstract_lbl" xml:lang="en">(iii) Financial position:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IiiFinancialPositionAbstract_lbl" xml:lang="en-US">(iii) Financial position:</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ImpactOnTheActuarialExposure" xlink:label="bbd_ImpactOnTheActuarialExposure" />
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ImpairmentLossOnFinanceLeases" xlink:label="bbd_ImpairmentLossOnFinanceLeases" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ImpairmentLossOnFinanceLeases_lbl" xml:lang="en">Impairment loss on finance leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ImpairmentLossOnFinanceLeases_lbl" xml:lang="en-US">Impairment loss on finance leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ImpairmentLossOnFinanceLeases_lbl" xml:lang="en">Impairment loss on finance leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ImpairmentLossOnFinanceLeases_lbl" xml:lang="en-US">Impairment loss on finance leases</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ImpairmentOfLoansAndAdvances_lbl" xml:lang="en">Impairment of loans and advances</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ImpairmentOfLoansAndAdvancesAbstract_lbl" xml:lang="en-US">Impairment of loans and advances [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ImpairmentOfLoansAndAdvancesNote_lbl" xml:lang="en-US">Impairment of loans and advances</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio_lbl" xml:lang="en-US">Impairment On Renegotiated Loans And Advances As Percentage Of The Renegotiated Portfolio</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio_lbl" xml:lang="en-US">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio_lbl" xml:lang="en">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio_lbl" xml:lang="en-US">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock_lbl" xml:lang="en-US">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock_lbl" xml:lang="en">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock_lbl" xml:lang="en-US">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome" xlink:label="bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome_lbl" xml:lang="en-US">In Financial Statements Cielo Sa Other Comprehensive Income</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en">In Foreign Currency [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en-US">In Foreign Currency [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en">In foreign currency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en-US">In foreign currency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en">In foreign currency [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InForeignCurrencyAxis_lbl" xml:lang="en-US">In foreign currency [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en">In Foreign Currency [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en-US">In Foreign Currency [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en">In foreign currency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en-US">In foreign currency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en">In foreign currency [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InForeignCurrencyDomain_lbl" xml:lang="en-US">In foreign currency [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInFinancialAssetsHeldForTrading_lbl" xml:lang="en">(Increase)/decrease in financial assets held for trading.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInFinancialAssetsHeldForTrading_lbl" xml:lang="en-US">(Increase)/decrease in financial assets held for trading.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en">Increase/(decrease) in financial liabilities held for trading</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en">Increase/(decrease) in financial liabilities held for trading.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading_lbl" xml:lang="en-US">Increase/(decrease) in financial liabilities held for trading.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IncreasedecreaseInInsuranceTechnicalProvisionsAndPensionPlans_lbl" xml:lang="en-US">Increase/(decrease) in technical provisions for insurance and pension plans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInInsuranceTechnicalProvisionsAndPensionPlans_lbl" xml:lang="en-US">Increase/(decrease) in insurance technical provisions and pension plans.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_IncreasedecreaseInReserveRequirementCentralBank_lbl" xml:lang="en-US">Increasedecrease In Reserve Requirement Central Bank</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IncreasedecreaseInReserveRequirementCentralBank_lbl" xml:lang="en">(Increase)/Decrease in reserve requirement - Central Bank</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IncreasedecreaseInReserveRequirementCentralBank_lbl" xml:lang="en-US">(Increase)/Decrease in reserve requirement - Central Bank</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInReserveRequirementCentralBank_lbl" xml:lang="en">(Increase)/Decrease in reserve requirement - Central Bank</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_IncreasedecreaseInReserveRequirementCentralBank_lbl" xml:lang="en-US">(Increase)/Decrease in reserve requirement - Central Bank</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract_lbl" xml:lang="en-US">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract_lbl" xml:lang="en-US">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis_lbl" xml:lang="en-US">Informatio On The Liquidity Coverage Ratio Lcr [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis_lbl" xml:lang="en-US">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR) [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis_lbl" xml:lang="en-US">Informatio on the Liquidity Coverage Ratio (LCR) [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrDomain_lbl" xml:lang="en-US">Informatio On The Liquidity Coverage Ratio Lcr [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrDomain_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrDomain_lbl" xml:lang="en">Informatio on the Liquidity Coverage Ratio (LCR) [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformatioOnTheLiquidityCoverageRatioLcrDomain_lbl" xml:lang="en-US">Informatio on the Liquidity Coverage Ratio (LCR) [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InformationByOperatingSegmentAbstract_lbl" xml:lang="en-US">Information By Operating Segment [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InformationByOperatingSegmentAbstract_lbl" xml:lang="en-US">Information by operating segment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformationByOperatingSegmentAbstract_lbl" xml:lang="en">Information by operating segment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformationByOperatingSegmentAbstract_lbl" xml:lang="en-US">Information by operating segment</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InformationByOperatingSegmentReviewedTextBlock_lbl" xml:lang="en-US">Information By Operating Segment Reviewed Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InformationByOperatingSegmentReviewedTextBlock_lbl" xml:lang="en">Information by operating segment, reviewed</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InformationByOperatingSegmentReviewedTextBlock_lbl" xml:lang="en-US">Information by operating segment, reviewed</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformationByOperatingSegmentReviewedTextBlock_lbl" xml:lang="en">Information by operating segment, reviewed.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InformationByOperatingSegmentReviewedTextBlock_lbl" xml:lang="en-US">Information by operating segment, reviewed.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InstrumentsIssuedBrazilAbstract" xlink:label="bbd_InstrumentsIssuedBrazilAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InstrumentsIssuedBrazilAbstract" xlink:to="bbd_InstrumentsIssuedBrazilAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en">Instruments Issued Brazil [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en-US">Instruments Issued Brazil [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en">Instruments Issued - Brazil:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en-US">Instruments Issued - Brazil:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en">Instruments Issued - Brazil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InstrumentsIssuedBrazilAbstract_lbl" xml:lang="en-US">Instruments Issued - Brazil</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceAutoMember" xlink:label="bbd_InsuranceAutoMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceAutoMember" xlink:to="bbd_InsuranceAutoMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en">Insurance Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en-US">Insurance Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en">Auto</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en-US">Auto</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en">Insurance: Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceAutoMember_lbl" xml:lang="en-US">Insurance: Auto [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceAxis" xlink:label="bbd_InsuranceAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceAxis" xlink:to="bbd_InsuranceAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en">Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en-US">Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en-US">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en">Insurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceAxis_lbl" xml:lang="en-US">Insurance [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsDomain_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Eight Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Eight Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Eight years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Eight years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims: Eight years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsEightYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims: Eight years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Five Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Five Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Five years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Five years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims: Five years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFiveYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims: Five years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Four Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Four Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Four years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims: Four years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims: Four years after notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims In The Year Of Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">In the year after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims: In the year of notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims: In the year of notification [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember" xlink:to="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance Claims Gross Reinsurance Amount Estimated For The Claims Nine Years After Notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Nine years after notification</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en">Insurance claims, gross reinsurance - Amount estimated for the claims: Nine years after notification [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsNineYearsAfterNotificationMember_lbl" xml:lang="en-US">Insurance claims, gross reinsurance - Amount estimated for the claims: Nine years after notification [Member]</link:label>
  </link:labelLink>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en">Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en-US">Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en-US">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en">Insurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceDomain_lbl" xml:lang="en-US">Insurance [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceInterestRateMember" xlink:label="bbd_InsuranceInterestRateMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceInterestRateMember" xlink:to="bbd_InsuranceInterestRateMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en">Insurance Interest Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en-US">Insurance Interest Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en">Interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en-US">Interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en">Insurance: Interest rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceInterestRateMember_lbl" xml:lang="en-US">Insurance: Interest rate [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear" xlink:to="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en">Insurance Life With Survival Coverage VGBL At The Beginning Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Insurance Life With Survival Coverage VGBL At The Beginning Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en">Insurance - Life with Survival Coverage (VGBL)At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Insurance - Life with Survival Coverage (VGBL)At the beginning of the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceLifeWithSurvivalCoverageVGBLMember" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en">Insurance Life With Survival Coverage VGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en-US">Insurance Life With Survival Coverage VGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en">Insurance &#8211; Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en-US">Insurance &#8211; Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en">Insurance &#8211; Life with Survival Coverage (VGBL) [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVGBLMember_lbl" xml:lang="en-US">Insurance &#8211; Life with Survival Coverage (VGBL) [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en">Insurance Life With Survival Coverage Vgbl Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en-US">Insurance Life With Survival Coverage Vgbl Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en">Insurance - Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en-US">Insurance - Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en">Insurance - Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock_lbl" xml:lang="en-US">Insurance - Life with Survival Coverage (VGBL)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceLongevityMember" xlink:label="bbd_InsuranceLongevityMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceLongevityMember" xlink:to="bbd_InsuranceLongevityMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en">Insurance Longevity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en-US">Insurance Longevity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en">Longevity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en-US">Longevity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en">Insurance: Longevity [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceLongevityMember_lbl" xml:lang="en-US">Insurance: Longevity [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsurancePGBLMember" xlink:label="bbd_InsurancePGBLMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsurancePGBLMember" xlink:to="bbd_InsurancePGBLMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en">Insurance PGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en-US">Insurance PGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en">PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en-US">PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en">Insurance: PGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsurancePGBLMember_lbl" xml:lang="en-US">Insurance: PGBL [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceREElementaryBranchMember" xlink:label="bbd_InsuranceREElementaryBranchMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceREElementaryBranchMember" xlink:to="bbd_InsuranceREElementaryBranchMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en">Insurance RE Elementary Branch [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en-US">Insurance RE Elementary Branch [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en-US">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en">Insurance: RE (Elementary branch) [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceREElementaryBranchMember_lbl" xml:lang="en-US">Insurance: RE (Elementary branch) [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract" xlink:to="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans [Abstract]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract" xlink:to="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en">Insurance Technical Provisions And Pension Plans Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en-US">Insurance Technical Provisions And Pension Plans Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract" xlink:to="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract_lbl" xml:lang="en">Insurance technical provisions and pension plans (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract_lbl" xml:lang="en-US">Insurance technical provisions and pension plans (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceTradicionalPlansMember" xlink:label="bbd_InsuranceTradicionalPlansMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceTradicionalPlansMember" xlink:to="bbd_InsuranceTradicionalPlansMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en">Insurance Tradicional Plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en-US">Insurance Tradicional Plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en">Tradicional plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en-US">Tradicional plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en">Insurance: Tradicional plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InsuranceTradicionalPlansMember_lbl" xml:lang="en-US">Insurance: Tradicional plans [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InsuranceVGBLMember" xlink:label="bbd_InsuranceVGBLMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InsuranceVGBLMember" xlink:to="bbd_InsuranceVGBLMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceVGBLMember_lbl" xml:lang="en">Insurance VGBL [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InsuranceVGBLMember_lbl" xml:lang="en-US">Insurance VGBL [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract_lbl" xml:lang="en">Deposits from banks:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract_lbl" xml:lang="en-US">Deposits from banks:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract_lbl" xml:lang="en">Interest and similar expenses - Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract_lbl" xml:lang="en-US">Interest and similar expenses - Deposits from banks</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en">Interest And Similar Expenses Deposits From Banks Funding In The Open Market</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en-US">Interest And Similar Expenses Deposits From Banks Funding In The Open Market</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en">Interest and similar expenses - Deposits from banks - Funding in the open market</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en-US">Interest and similar expenses - Deposits from banks - Funding in the open market</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en">- Funding in the open market</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket_lbl" xml:lang="en-US">- Funding in the open market</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en">Interest And Similar Expenses Deposits From Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en-US">Interest And Similar Expenses Deposits From Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en">Deposits from customers:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en-US">Deposits from customers:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en">Interest and similar expenses - Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract_lbl" xml:lang="en-US">Interest and similar expenses - Deposits from customers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en">Interest And Similar Expenses Deposits From Customers Savings Accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en-US">Interest And Similar Expenses Deposits From Customers Savings Accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en">Interest and similar expenses - Deposits from customers - Savings accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en-US">Interest and similar expenses - Deposits from customers - Savings accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en">- Savings accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts_lbl" xml:lang="en-US">- Savings accounts</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits" xlink:to="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en">Interest And Similar Expenses Deposits From Customers Time Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en-US">Interest And Similar Expenses Deposits From Customers Time Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en">Interest and similar expenses - Deposits from customers - Time deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en-US">Interest and similar expenses - Deposits from customers - Time deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en">- Time deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits_lbl" xml:lang="en-US">- Time deposits</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarIncomeAbstract" xlink:label="bbd_InterestAndSimilarIncomeAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarIncomeAbstract" xlink:to="bbd_InterestAndSimilarIncomeAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en">Interest And Similar Income [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en-US">Interest And Similar Income [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en">Interest and similar income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en-US">Interest and similar income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en">Interest and similar income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeAbstract_lbl" xml:lang="en-US">Interest and similar income</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarIncomeFinancialAssetsAbstract" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract" xlink:to="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en">Interest And Similar Income Financial Assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en-US">Interest And Similar Income Financial Assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en">Financial assets:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en-US">Financial assets:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en">Interest and similar income - Financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeFinancialAssetsAbstract_lbl" xml:lang="en-US">Interest and similar income - Financial assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract" xlink:to="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Interest And Similar Income Loans And Advances To Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Interest And Similar Income Loans And Advances To Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Loans and advances to customers:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Loans and advances to customers:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Interest and similar income - Loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Interest and similar income - Loans and advances to customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions" xlink:to="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en">Interest And Similar Income Loans And Advances To Customers Leasing Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en-US">Interest And Similar Income Loans And Advances To Customers Leasing Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en">- Leasing transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en-US">- Leasing transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en">Interest and similar income - Loans and advances to customers - Leasing transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions_lbl" xml:lang="en-US">Interest and similar income - Loans and advances to customers - Leasing transactions</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations" xlink:to="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en">Interest And Similar Income Loans And Advances To Customers Loan Operations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en-US">Interest And Similar Income Loans And Advances To Customers Loan Operations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en">- Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en-US">- Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en">Interest and similar income - Loans and advances to customers - Loan operations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations_lbl" xml:lang="en-US">Interest and similar income - Loans and advances to customers - Loan operations</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestInTheCapitalStockOfIrb" xlink:to="bbd_InterestInTheCapitalStockOfIrb_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en">Interest In The Capital Stock Of Irb</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en-US">Interest In The Capital Stock Of Irb</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en">Interest in the capital stock of IRB</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en-US">Interest in the capital stock of IRB</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en">Interest in the capital stock of IRB</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestInTheCapitalStockOfIrb_lbl" xml:lang="en-US">Interest in the capital stock of IRB</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestOnEquity" xlink:label="bbd_InterestOnEquity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestOnEquity" xlink:to="bbd_InterestOnEquity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en">Interest On Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en-US">Interest On Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en">Interest on shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en-US">Interest on shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en">Interest on equity and dividends.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquity_lbl" xml:lang="en-US">Interest on equity and dividends.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestOnEquityAndDividends" xlink:label="bbd_InterestOnEquityAndDividends" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestOnEquityAndDividends" xlink:to="bbd_InterestOnEquityAndDividends_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en">Interest On Equity And Dividends</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en-US">Interest On Equity And Dividends</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en">Interest on equity and dividends</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en-US">Interest on equity and dividends</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en">Interest on equity and dividends.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquityAndDividends_lbl" xml:lang="en-US">Interest on equity and dividends.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestOnEquityPaidAndPayable" xlink:label="bbd_InterestOnEquityPaidAndPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestOnEquityPaidAndPayable" xlink:to="bbd_InterestOnEquityPaidAndPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en">Interest On Equity Paid And Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en-US">Interest On Equity Paid And Payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en">Interest on shareholders&#39; equity (paid and payable)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en-US">Interest on shareholders&#39; equity (paid and payable)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en">Interest on equity (paid and payable)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestOnEquityPaidAndPayable_lbl" xml:lang="en-US">Interest on equity (paid and payable)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestPaidCashFlowsFromUsedInInvestingActivities" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities" xlink:to="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en">Interest Paid Cash Flows From Used In Investing Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Interest Paid Cash Flows From Used In Investing Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en">Interest paid.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Interest paid.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en">Interest paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_InterestPaidCashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Interest paid</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateFuturesAxis" xlink:label="bbd_InterestRateFuturesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateFuturesAxis" xlink:to="bbd_InterestRateFuturesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en">Interest Rate Futures [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en-US">Interest Rate Futures [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en-US">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en">Interest rate futures [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesAxis_lbl" xml:lang="en-US">Interest rate futures [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateFuturesDomain" xlink:label="bbd_InterestRateFuturesDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateFuturesDomain" xlink:to="bbd_InterestRateFuturesDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en">Interest Rate Futures [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en-US">Interest Rate Futures [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en-US">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en">Interest rate futures [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesDomain_lbl" xml:lang="en-US">Interest rate futures [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateFuturesMember" xlink:label="bbd_InterestRateFuturesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateFuturesMember" xlink:to="bbd_InterestRateFuturesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en">Interest Rate Futures [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en-US">Interest Rate Futures [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en-US">Interest rate futures</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en">Interest rate futures [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateFuturesMember_lbl" xml:lang="en-US">Interest rate futures [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateInBrl" xlink:label="bbd_InterestRateInBrl" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateInBrl" xlink:to="bbd_InterestRateInBrl_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en">Interest Rate In Brl</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en-US">Interest Rate In Brl</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en">Interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en-US">Interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en">Interest rate in BRL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateInBrl_lbl" xml:lang="en-US">Interest rate in BRL</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateSwapsAxis" xlink:label="bbd_InterestRateSwapsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateSwapsAxis" xlink:to="bbd_InterestRateSwapsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en">Interest Rate Swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en-US">Interest Rate Swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en-US">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en">Interest rate swaps [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsAxis_lbl" xml:lang="en-US">Interest rate swaps [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateSwapsDomain" xlink:label="bbd_InterestRateSwapsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateSwapsDomain" xlink:to="bbd_InterestRateSwapsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en">Interest Rate Swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en-US">Interest Rate Swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en-US">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en">Interest rate swaps [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsDomain_lbl" xml:lang="en-US">Interest rate swaps [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRateSwapsMember" xlink:label="bbd_InterestRateSwapsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRateSwapsMember" xlink:to="bbd_InterestRateSwapsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en">Interest Rate Swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en-US">Interest Rate Swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en-US">Interest rate swaps</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en">Interest rate swaps [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRateSwapsMember_lbl" xml:lang="en-US">Interest rate swaps [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRatesAxis" xlink:label="bbd_InterestRatesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRatesAxis" xlink:to="bbd_InterestRatesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en">Interest Rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en-US">Interest Rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en-US">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en">Interest rates [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesAxis_lbl" xml:lang="en-US">Interest rates [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRatesDomain" xlink:label="bbd_InterestRatesDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRatesDomain" xlink:to="bbd_InterestRatesDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en">Interest Rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en-US">Interest Rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en-US">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en">Interest rates [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesDomain_lbl" xml:lang="en-US">Interest rates [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InterestRatesMember" xlink:label="bbd_InterestRatesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_InterestRatesMember" xlink:to="bbd_InterestRatesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en">Interest Rates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en-US">Interest Rates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en-US">Interest rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en">Interest rates [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InterestRatesMember_lbl" xml:lang="en-US">Interest rates [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_InvestmentFundQuotasExcludingVGBLAndPGBL" xlink:label="bbd_InvestmentFundQuotasExcludingVGBLAndPGBL" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_InvestmentFundQuotasExcludingVGBLAndPGBL_lbl" xml:lang="en">Investment Fund Quotas Excluding VGBL And PGBL</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InvestmentsHeldToMaturityTextBlock_lbl" xml:lang="en">Investments held to maturity.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_InvestmentsInAssociatesAndJointVenturesTextBlock_lbl" xml:lang="en">Investments in associates and joint ventures</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_InvestmentsInAssociatesAndJointVenturesTextBlock_lbl" xml:lang="en">Investments in associates and joint ventures.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_IrbsBradescoIndirectlyHoldsShares_lbl" xml:lang="en-US">IRB&#39;s - Bradesco indirectly holds shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LCRLiquidityCoverageRatioAbstract" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LCRLiquidityCoverageRatioAbstract" xlink:to="bbd_LCRLiquidityCoverageRatioAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en">LCR Liquidity Coverage Ratio [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en-US">LCR Liquidity Coverage Ratio [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en">LCR - Liquidity Coverage Ratio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en-US">LCR - Liquidity Coverage Ratio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en">LCR - Liquidity Coverage Ratio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LCRLiquidityCoverageRatioAbstract_lbl" xml:lang="en-US">LCR - Liquidity Coverage Ratio</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LargestBorrower" xlink:label="bbd_LargestBorrower" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LargestBorrower" xlink:to="bbd_LargestBorrower_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en">Largest Borrower</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en-US">Largest Borrower</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en">Largest borrower</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en-US">Largest borrower</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en">Largest borrower</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LargestBorrower_lbl" xml:lang="en-US">Largest borrower</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Lcr" xlink:label="bbd_Lcr" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Lcr" xlink:to="bbd_Lcr_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Lcr_lbl" xml:lang="en">Lcr</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Lcr_lbl" xml:lang="en-US">Lcr</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Lcr_lbl" xml:lang="en">LCR (%)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Lcr_lbl" xml:lang="en-US">LCR (%)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Lcr_lbl" xml:lang="en">LCR (%)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Lcr_lbl" xml:lang="en-US">LCR (%)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond" xlink:to="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en">Leasing Companies Tax On Services Of Any Nature Issqn Total Lawsuits Correspond</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en-US">Leasing Companies Tax On Services Of Any Nature Issqn Total Lawsuits Correspond</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en">Leasing companies&#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en-US">Leasing companies&#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en">Leasing companies&#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond_lbl" xml:lang="en-US">Leasing companies&#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LegalReserveAnnualStatutoryNetIncome" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LegalReserveAnnualStatutoryNetIncome" xlink:to="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en">Legal Reserve Annual Statutory Net Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en-US">Legal Reserve Annual Statutory Net Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en">Legal reserve - annual statutory net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en-US">Legal reserve - annual statutory net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en">Legal reserve - annual statutory net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LegalReserveAnnualStatutoryNetIncome_lbl" xml:lang="en-US">Legal reserve - annual statutory net income</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LessDPVATInsurance" xlink:label="bbd_LessDPVATInsurance" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LessDPVATInsurance" xlink:to="bbd_LessDPVATInsurance_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en">Less DPVAT Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en-US">Less DPVAT Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en">(-) DPVAT insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en-US">(-) DPVAT insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en">(Less) DPVAT insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LessDPVATInsurance_lbl" xml:lang="en-US">(Less) DPVAT insurance</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LessStableFunding" xlink:label="bbd_LessStableFunding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LessStableFunding" xlink:to="bbd_LessStableFunding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en">Less Stable Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en-US">Less Stable Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en">Less stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en-US">Less stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en">Less stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LessStableFunding_lbl" xml:lang="en-US">Less stable funding</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LiabilitiesForAcquisitionOfAssetsAndRights" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LiabilitiesForAcquisitionOfAssetsAndRights" xlink:to="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en">Liabilities For Acquisition Of Assets And Rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en-US">Liabilities For Acquisition Of Assets And Rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en">Liabilities for acquisition of assets and rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en-US">Liabilities for acquisition of assets and rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en">Liabilities for acquisition of assets and rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilitiesForAcquisitionOfAssetsAndRights_lbl" xml:lang="en-US">Liabilities for acquisition of assets and rights</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LiabilityPositionAxis" xlink:label="bbd_LiabilityPositionAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LiabilityPositionAxis" xlink:to="bbd_LiabilityPositionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en">Liability Position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en-US">Liability Position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en-US">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en">Liability position [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionAxis_lbl" xml:lang="en-US">Liability position [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LiabilityPositionDomain" xlink:label="bbd_LiabilityPositionDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LiabilityPositionDomain" xlink:to="bbd_LiabilityPositionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en">Liability Position [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en-US">Liability Position [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en-US">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en">Liability position [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionDomain_lbl" xml:lang="en-US">Liability position [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LiabilityPositionMember" xlink:label="bbd_LiabilityPositionMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LiabilityPositionMember" xlink:to="bbd_LiabilityPositionMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en">Liability Position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en-US">Liability Position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en-US">Liability position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en">Liability position [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LiabilityPositionMember_lbl" xml:lang="en-US">Liability position [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock" xlink:to="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en">Life Insurance Claims Gross Reinsurance Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en-US">Life Insurance Claims Gross Reinsurance Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en">Life - Insurance claims, gross reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en-US">Life - Insurance claims, gross reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en">Life - Insurance claims, gross reinsurance.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock_lbl" xml:lang="en-US">Life - Insurance claims, gross reinsurance.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvanceToCustomersTextBlock" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LoansAndAdvanceToCustomersTextBlock" xlink:to="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" xml:lang="en">Loans And Advance To Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" xml:lang="en-US">Loans And Advance To Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" xml:lang="en">Loans and advances to customers include the following finance lease receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" xml:lang="en-US">Loans and advances to customers include the following finance lease receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvanceToCustomersTextBlock_lbl" xml:lang="en">Loans and advances to customers.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersCompanies_lbl" xml:lang="en-US">Loans And Advances To Customers Companies</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersCreditCard_lbl" xml:lang="en-US">Loans And Advances To Customers Credit Card</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersCreditCard_lbl" xml:lang="en">Credit card</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersCreditCard_lbl" xml:lang="en-US">Loans and advances to customers - Credit card</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en">Loans And Advances To Customers Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en-US">Loans And Advances To Customers Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en">Loans and advances to customers (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en-US">Loans and advances to customers (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en">Loans and advances to customers (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersDetailsTextAbstract_lbl" xml:lang="en-US">Loans and advances to customers (Details Text)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersFinancingAndExport" xlink:label="bbd_LoansAndAdvancesToCustomersFinancingAndExport" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersFinancingAndExport_lbl" xml:lang="en-US">Loans And Advances To Customers Financing And Export</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersFinancingAndExport_lbl" xml:lang="en">Financing and export</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersFinancingAndExport_lbl" xml:lang="en-US">Loans and advances to customers - Financing and export</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersFoodProducts_lbl" xml:lang="en-US">Loans And Advances To Customers Food Products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersFoodProducts_lbl" xml:lang="en">Food products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersFoodProducts_lbl" xml:lang="en-US">Food products</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersFoodProducts_lbl" xml:lang="en-US">Loans and advances to customers - Food products</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersHousingLoans_lbl" xml:lang="en-US">Loans And Advances To Customers Housing Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersHousingLoans_lbl" xml:lang="en">Housing loans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersHousingLoans_lbl" xml:lang="en-US">Loans and advances to customers - Housing loans</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en">Loans And Advances To Customers Impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en-US">Loans And Advances To Customers Impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en">Impaired (iii)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en-US">Impaired (iii)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en-US">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en">Total</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpaired_lbl" xml:lang="en-US">Loans and advances to customers - Impaired</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en">Loans And Advances To Customers Impaired [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en-US">Loans And Advances To Customers Impaired [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en-US">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAbstract_lbl" xml:lang="en-US">Loans and advances to customers impaired</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets_lbl" xml:lang="en-US">Loans And Advances To Customers Impaired Acquisition Of Assets</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets_lbl" xml:lang="en">Loans and advances to customers impaired - Acquisition of assets</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedPortfolioNotYetDueMember_lbl" xml:lang="en-US">Loans and advances to customers - Impaired: Portfolio not yet due [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedRuralLoans_lbl" xml:lang="en">Loans and advances to customers impaired - Rural loans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedTextBlock_lbl" xml:lang="en">Loans and advances to customers impaired</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedTextBlock_lbl" xml:lang="en-US">Loans and advances to customers impaired</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en">Vehicles - CDC (Direct consumer credit)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en">Loans and advances to customers impaired - Vehicles &#8211; CDC (Direct consumer credit)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en-US">Loans and advances to customers impaired - Vehicles &#8211; CDC (Direct consumer credit)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersImpairedWorkingCapital_lbl" xml:lang="en-US">Loans And Advances To Customers Impaired Working Capital</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageCompanies" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en">Loans And Advances To Customers Percentage Companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en">Companies %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en-US">Companies %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en">Loans and advances to customers - Percentage - Companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageCompanies_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Companies</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageFoodProducts" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts_lbl" xml:lang="en">Loans And Advances To Customers Percentage Food Products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Food Products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts_lbl" xml:lang="en">Food products %</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts_lbl" xml:lang="en">Loans and advances to customers - Percentage - Food products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageFoodProducts_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Food products</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageIndividuals" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en">Loans And Advances To Customers Percentage Individuals</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Individuals</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en">Individuals %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en-US">Individuals %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en">Loans and advances to customers - Percentage - Individuals</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageIndividuals_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Individuals</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en">Loans And Advances To Customers Percentage Oil Derivatives And Aggregate Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Oil Derivatives And Aggregate Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en">Oil, derivatives and aggregate activities %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en-US">Oil, derivatives and aggregate activities %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en">Loans and advances to customers - Percentage - Oil, derivatives and aggregate activities %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Oil, derivatives and aggregate activities %</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Loans And Advances To Customers Percentage Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Other industries %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Other industries %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Loans and advances to customers - Percentage - Other industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Other industries</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentagePrivateSector" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en">Loans And Advances To Customers Percentage Private Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Private Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en">Private sector %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en-US">Private sector %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en">Loans and advances to customers - Percentage - Private sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePrivateSector_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Private sector</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en">Loans And Advances To Customers Percentage Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Production And Distribution Of Electricity</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Production and distribution of electricity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePublicSector_lbl" xml:lang="en">Loans And Advances To Customers Percentage Public Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePublicSector_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Public Sector</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePublicSector_lbl" xml:lang="en">Loans and advances to customers - Percentage - Public sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentagePublicSector_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Public sector</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Real Estate And Construction Activities</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Real estate and construction activities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageRetail" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageRetail" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageRetail_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Retail</link:label>
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  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageServices_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Services</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Siderurgy And Metallurgy</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy_lbl" xml:lang="en">Siderurgy and metallurgy %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Siderurgy and metallurgy %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy_lbl" xml:lang="en">Loans and advances to customers - Percentage - Siderurgy and metallurgy</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Siderurgy and metallurgy</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en">Loans And Advances To Customers Percentage Sugar And Alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Sugar And Alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en">Sugar and alcohol %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en-US">Sugar and alcohol %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en">Loans and advances to customers - Percentage - Sugar and alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Sugar and alcohol</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en">Loans And Advances To Customers Percentage Total Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Total Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en">Total portfolio %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en-US">Total portfolio %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en">Loans and advances to customers - Percentage - Total portfolio %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Total portfolio %</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en">Loans And Advances To Customers Percentage Transportation And Concession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Transportation And Concession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en">Transportation and concession %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en-US">Transportation and concession %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en">Loans and advances to customers - Percentage - Transportation and concession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Transportation and concession</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPercentageWholesale" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en">Loans And Advances To Customers Percentage Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en-US">Loans And Advances To Customers Percentage Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en">Wholesale %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en-US">Wholesale %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en">Loans and advances to customers - Percentage - Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPercentageWholesale_lbl" xml:lang="en-US">Loans and advances to customers - Percentage - Wholesale</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans" xlink:to="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en">Loans And Advances To Customers Personal Credit Related To Payroll Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en-US">Loans And Advances To Customers Personal Credit Related To Payroll Loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en">Personal credit - payroll loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en-US">Personal credit - payroll loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en">Loans and advances to customers - Personal credit - Related to payroll loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans_lbl" xml:lang="en-US">Loans and advances to customers - Personal credit - Related to payroll loans</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPrivateSector" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en">Loans And Advances To Customers Private Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en-US">Loans And Advances To Customers Private Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en">Private sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en-US">Private sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en">Loans and advances to customers - Private sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPrivateSector_lbl" xml:lang="en-US">Loans and advances to customers - Private sector</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity" xlink:to="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Loans And Advances To Customers Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Loans And Advances To Customers Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Loans and advances to customers - Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Loans and advances to customers - Production and distribution of electricity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersPublicSector" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en">Loans And Advances To Customers Public Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en-US">Loans And Advances To Customers Public Sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en">Public sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en-US">Public sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en">Loans and advances to customers - Public sector</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersPublicSector_lbl" xml:lang="en-US">Loans and advances to customers - Public sector</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en">Loans And Advances To Customers Real Estate And Construction Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en-US">Loans And Advances To Customers Real Estate And Construction Activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en">Real estate and construction activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en-US">Real estate and construction activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en">Loans and advances to customers - Real estate and construction activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities_lbl" xml:lang="en-US">Loans and advances to customers - Real estate and construction activities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en">Loans And Advances To Customers Receivable Insurance Premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en-US">Loans And Advances To Customers Receivable Insurance Premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en">Receivable insurance premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en-US">Receivable insurance premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en">Loans and advances to customers - Receivable insurance premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums_lbl" xml:lang="en-US">Loans and advances to customers - Receivable insurance premiums</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersRetail_lbl" xml:lang="en">Loans And Advances To Customers Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersRetail_lbl" xml:lang="en-US">Loans And Advances To Customers Retail</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersRuralLoans_lbl" xml:lang="en-US">Loans And Advances To Customers Rural Loans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersServices_lbl" xml:lang="en">Loans And Advances To Customers Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersServices_lbl" xml:lang="en-US">Loans And Advances To Customers Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersServices_lbl" xml:lang="en">Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersServices_lbl" xml:lang="en-US">Services</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Loans And Advances To Customers Siderurgy And Metallurgy</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Siderurgy and metallurgy</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy_lbl" xml:lang="en-US">Loans and advances to customers - Siderurgy and metallurgy</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en">Loans And Advances To Customers Sugar And Alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en-US">Loans And Advances To Customers Sugar And Alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en">Sugar and alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en-US">Sugar and alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en">Loans and advances to customers - Sugar and alcohol</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersSugarAndAlcohol_lbl" xml:lang="en-US">Loans and advances to customers - Sugar and alcohol</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTablesAbstract_lbl" xml:lang="en">Loans and advances to customers (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTablesAbstract_lbl" xml:lang="en-US">Loans and advances to customers (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTablesAbstract_lbl" xml:lang="en">Loans and advances to customers (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTablesAbstract_lbl" xml:lang="en-US">Loans and advances to customers (Tables) [Abstract].</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en">Loans And Advances To Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en-US">Loans And Advances To Customers Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en">Loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en-US">Loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en">Loans and advances to customers.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTextBlock_lbl" xml:lang="en-US">Loans and advances to customers.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en">Loans And Advances To Customers The Internal Models Used By The Organization Are Based On Client Or Product [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en-US">Loans And Advances To Customers The Internal Models Used By The Organization Are Based On Client Or Product [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en">Loans and advances to customers - The internal models used by the Organization are based on client or product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en-US">Loans and advances to customers - The internal models used by the Organization are based on client or product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en">Loans and advances to customers - The internal models used by the Organization are based on client or product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract_lbl" xml:lang="en-US">Loans and advances to customers - The internal models used by the Organization are based on client or product</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersTransportationAndConcession" xlink:label="bbd_LoansAndAdvancesToCustomersTransportationAndConcession" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersTransportationAndConcession_lbl" xml:lang="en-US">Loans And Advances To Customers Transportation And Concession</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTransportationAndConcession_lbl" xml:lang="en">Loans and advances to customers - Transportation and concession</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersTransportationAndConcession_lbl" xml:lang="en-US">Loans and advances to customers - Transportation and concession</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en">Loans And Advances To Customers Vehicles Cdc Direct Consumer Credit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en-US">Loans And Advances To Customers Vehicles Cdc Direct Consumer Credit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en">Vehicle loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en-US">Vehicle loans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en">Loans and advances to customers - Vehicles - CDC (Direct consumer credit)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit_lbl" xml:lang="en-US">Loans and advances to customers - Vehicles - CDC (Direct consumer credit)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LoansAndAdvancesToCustomersWholesale" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en">Loans And Advances To Customers Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en-US">Loans And Advances To Customers Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en">Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en-US">Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en">Loans and advances to customers - Wholesale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersWholesale_lbl" xml:lang="en-US">Loans and advances to customers - Wholesale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en">Loans And Advances To Customers Working Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en-US">Loans And Advances To Customers Working Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en">Working capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en-US">Working capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en">Loans and advances to customers - Working capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_LoansAndAdvancesToCustomersWorkingCapital_lbl" xml:lang="en-US">Loans and advances to customers - Working capital</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_LowRiskMember" xlink:label="bbd_LowRiskMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_LowRiskMember_lbl" xml:lang="en">Low Risk [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_NetInterestIncomeAbstract_lbl" xml:lang="en">Net interest income [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_NetInterestIncomeAbstract_lbl" xml:lang="en-US">Net interest income [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeAbstract_lbl" xml:lang="en">Net interest income [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeAbstract_lbl" xml:lang="en-US">Net interest income [Abstract].</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeTablesAbstract_lbl" xml:lang="en">Net interest income (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeTablesAbstract_lbl" xml:lang="en-US">Net interest income (Tables) [Abstract].</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_NetInterestIncomeTextBlock_lbl" xml:lang="en-US">Net Interest Income Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_NetInterestIncomeTextBlock_lbl" xml:lang="en">Net interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_NetInterestIncomeTextBlock_lbl" xml:lang="en-US">Net interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeTextBlock_lbl" xml:lang="en">Net interest income.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInterestIncomeTextBlock_lbl" xml:lang="en-US">Net interest income.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_NetInvestmentsInFinanceLeasesAbstract_lbl" xml:lang="en">Net investments in finance leases:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_NetInvestmentsInFinanceLeasesAbstract_lbl" xml:lang="en-US">Net investments in finance leases:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesAbstract_lbl" xml:lang="en">Net investments in finance leases:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesAbstract_lbl" xml:lang="en-US">Net investments in finance leases:</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_NetInvestmentsInFinanceLeasesOverFiveYears_lbl" xml:lang="en-US">Net Investments In Finance Leases Over Five Years</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesOverFiveYears_lbl" xml:lang="en">Net investments in finance leases - Over five years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesOverFiveYears_lbl" xml:lang="en-US">Net investments in finance leases - Over five years</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_NetInvestmentsInFinanceLeasesUpToOneYear_lbl" xml:lang="en-US">Net Investments In Finance Leases Up To One Year</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesUpToOneYear_lbl" xml:lang="en">Net investments in finance leases - Up to one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetInvestmentsInFinanceLeasesUpToOneYear_lbl" xml:lang="en-US">Net investments in finance leases - Up to one year</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_NetLossesFromDisposalOfPropertyAndEquipment" xlink:label="bbd_NetLossesFromDisposalOfPropertyAndEquipment" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetLossesFromDisposalOfPropertyAndEquipment_lbl" xml:lang="en">Net losses from disposal of property and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetLossesFromDisposalOfPropertyAndEquipment_lbl" xml:lang="en-US">Net losses from disposal of property and equipment</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_NetMovementOfSubordinatedDebtAbstract_lbl" xml:lang="en-US">Net movement of subordinated debt</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetMovementOfSubordinatedDebtAbstract_lbl" xml:lang="en">Net movement of subordinated debt</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetMovementOfSubordinatedDebtAbstract_lbl" xml:lang="en-US">Net movement of subordinated debt</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract" xlink:label="bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract_lbl" xml:lang="en">Net premiums written by type of insurance, net of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract_lbl" xml:lang="en-US">Net premiums written by type of insurance, net of reinsurance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_NetTradingGainslossesRealizedAndUnrealized" xlink:label="bbd_NetTradingGainslossesRealizedAndUnrealized" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_NoncurrentAssetsHeldForSaleTablesAbstract_lbl" xml:lang="en">Non-current assets held for sale (Tables) [Abstract].</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OffbalanceSheetCommitmentsAbstract_lbl" xml:lang="en">Off-balance sheet commitments</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OrganizationsCapitalPrudentialMember_lbl" xml:lang="en-US">Organization&#39;s Capital: Prudential [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears10Member" xlink:label="bbd_OriginalTermInYears10Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears10Member" xlink:to="bbd_OriginalTermInYears10Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en">Original Term In Years 10 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en-US">Original Term In Years 10 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en">Original term in years: 10</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en-US">Original term in years: 10</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en">Original term in years: 10 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears10Member_lbl" xml:lang="en-US">Original term in years: 10 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears11Member" xlink:label="bbd_OriginalTermInYears11Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears11Member" xlink:to="bbd_OriginalTermInYears11Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en">Original Term In Years 11 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en-US">Original Term In Years 11 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en">Original term in years: 11</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en-US">Original term in years: 11</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en">Original term in years: 11 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears11Member_lbl" xml:lang="en-US">Original term in years: 11 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears6Member" xlink:label="bbd_OriginalTermInYears6Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears6Member" xlink:to="bbd_OriginalTermInYears6Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en">Original Term In Years 6 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en-US">Original Term In Years 6 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en">Original term in years: 6</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en-US">Original term in years: 6</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en">Original term in years: 6 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears6Member_lbl" xml:lang="en-US">Original term in years: 6 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears7Member" xlink:label="bbd_OriginalTermInYears7Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears7Member" xlink:to="bbd_OriginalTermInYears7Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en">Original Term In Years 7 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en-US">Original Term In Years 7 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en">Original term in years: 7</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en-US">Original term in years: 7</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en">Original term in years: 7 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears7Member_lbl" xml:lang="en-US">Original term in years: 7 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears8Member" xlink:label="bbd_OriginalTermInYears8Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears8Member" xlink:to="bbd_OriginalTermInYears8Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en">Original Term In Years 8 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en-US">Original Term In Years 8 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en">Original term in years: 8</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en-US">Original term in years: 8</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en">Original term in years: 8 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears8Member_lbl" xml:lang="en-US">Original term in years: 8 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYears9Member" xlink:label="bbd_OriginalTermInYears9Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYears9Member" xlink:to="bbd_OriginalTermInYears9Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en">Original Term In Years 9 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en-US">Original Term In Years 9 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en">Original term in years: 9</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en-US">Original term in years: 9</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en">Original term in years: 9 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYears9Member_lbl" xml:lang="en-US">Original term in years: 9 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYearsAxis" xlink:label="bbd_OriginalTermInYearsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYearsAxis" xlink:to="bbd_OriginalTermInYearsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en">Original Term In Years [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en-US">Original Term In Years [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en">Original term in years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en-US">Original term in years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en">Original term in years [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYearsAxis_lbl" xml:lang="en-US">Original term in years [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OriginalTermInYearsDomain" xlink:label="bbd_OriginalTermInYearsDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OriginalTermInYearsDomain" xlink:to="bbd_OriginalTermInYearsDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en">Original Term In Years [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en-US">Original Term In Years [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en">Original term in years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en-US">Original term in years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en">Original term in years [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OriginalTermInYearsDomain_lbl" xml:lang="en-US">Original term in years [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpenseAbstract" xlink:label="bbd_OtherAdministrativeExpenseAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpenseAbstract" xlink:to="bbd_OtherAdministrativeExpenseAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en">Other Administrative Expense [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en-US">Other Administrative Expense [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en-US">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpenseAbstract_lbl" xml:lang="en-US">Other administrative expenses</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation" xlink:to="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en">Other Administrative Expenses Advances To Fgc Deposit Guarantee Association</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en-US">Other Administrative Expenses Advances To Fgc Deposit Guarantee Association</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en">Other administrative expenses - Advances to FGC (Deposit Guarantee Association)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en-US">Other administrative expenses - Advances to FGC (Deposit Guarantee Association)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en">Advances to FGC (Deposit Guarantee Association)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation_lbl" xml:lang="en-US">Advances to FGC (Deposit Guarantee Association)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations" xlink:to="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en">Other Administrative Expenses Advertising Promotions And Public Relations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en-US">Other Administrative Expenses Advertising Promotions And Public Relations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en">Other administrative expenses - Advertising, promotions and public relations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en-US">Other administrative expenses - Advertising, promotions and public relations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en">Advertising and marketing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations_lbl" xml:lang="en-US">Advertising and marketing</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesDataProcessing" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesDataProcessing" xlink:to="bbd_OtherAdministrativeExpensesDataProcessing_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en">Other Administrative Expenses Data Processing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en-US">Other Administrative Expenses Data Processing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en">Other administrative expenses - Data processing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en-US">Other administrative expenses - Data processing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en">Data processing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesDataProcessing_lbl" xml:lang="en-US">Data processing</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesFinancialSystem" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesFinancialSystem" xlink:to="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en">Other Administrative Expenses Financial System</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en-US">Other Administrative Expenses Financial System</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en">Other administrative expenses - Financial system</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en-US">Other administrative expenses - Financial system</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en">Financial system</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesFinancialSystem_lbl" xml:lang="en-US">Financial system</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets" xlink:to="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en">Other Administrative Expenses Maintenance And Conservation Of Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en-US">Other Administrative Expenses Maintenance And Conservation Of Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en">Other administrative expenses - Maintenance and conservation of assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en-US">Other administrative expenses - Maintenance and conservation of assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en">Asset maintenance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets_lbl" xml:lang="en-US">Asset maintenance</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesMaterials" xlink:label="bbd_OtherAdministrativeExpensesMaterials" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesMaterials" xlink:to="bbd_OtherAdministrativeExpensesMaterials_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en">Other Administrative Expenses Materials</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en-US">Other Administrative Expenses Materials</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en">Other administrative expenses - Materials</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en-US">Other administrative expenses - Materials</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en">Supplies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesMaterials_lbl" xml:lang="en-US">Supplies</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesOther" xlink:label="bbd_OtherAdministrativeExpensesOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesOther" xlink:to="bbd_OtherAdministrativeExpensesOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en">Other Administrative Expenses Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en-US">Other Administrative Expenses Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en">Other administrative expenses - Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en-US">Other administrative expenses - Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesOther_lbl" xml:lang="en-US">Other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesRent" xlink:label="bbd_OtherAdministrativeExpensesRent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesRent" xlink:to="bbd_OtherAdministrativeExpensesRent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en">Other Administrative Expenses Rent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en-US">Other Administrative Expenses Rent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en">Other administrative expenses - Rent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en-US">Other administrative expenses - Rent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en">Rental</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesRent_lbl" xml:lang="en-US">Rental</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesSecurityAndSurveillance" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesSecurityAndSurveillance" xlink:to="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en">Other Administrative Expenses Security And Surveillance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en-US">Other Administrative Expenses Security And Surveillance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en">Other administrative expenses - Security and surveillance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en-US">Other administrative expenses - Security and surveillance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en">Security and surveillance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_OtherAdministrativeExpensesSecurityAndSurveillance_lbl" xml:lang="en-US">Security and surveillance</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesTablesAbstract" xlink:label="bbd_OtherAdministrativeExpensesTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesTablesAbstract" xlink:to="bbd_OtherAdministrativeExpensesTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesTablesAbstract_lbl" xml:lang="en">Other administrative expenses (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesTablesAbstract_lbl" xml:lang="en-US">Other administrative expenses (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesTablesAbstract_lbl" xml:lang="en">Other administrative expenses (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesTablesAbstract_lbl" xml:lang="en-US">Other administrative expenses (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAdministrativeExpensesTextBlock" xlink:label="bbd_OtherAdministrativeExpensesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAdministrativeExpensesTextBlock" xlink:to="bbd_OtherAdministrativeExpensesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en">Other Administrative Expenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en-US">Other Administrative Expenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en-US">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en">Other administrative expenses.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAdministrativeExpensesTextBlock_lbl" xml:lang="en-US">Other administrative expenses.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsAbstract" xlink:label="bbd_OtherAssetsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsAbstract" xlink:to="bbd_OtherAssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en">Other assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en-US">Other assets [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsAbstract_lbl" xml:lang="en-US">Other assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsDebtorsForGuaranteeDeposits" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsDebtorsForGuaranteeDeposits" xlink:to="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en">Other Assets Debtors For Guarantee Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en-US">Other Assets Debtors For Guarantee Deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en">Debtors for guarantee deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en-US">Debtors for guarantee deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en">Other assets - Debtors for guarantee deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsDebtorsForGuaranteeDeposits_lbl" xml:lang="en-US">Other assets - Debtors for guarantee deposits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsForeignExchangeTransactions" xlink:label="bbd_OtherAssetsForeignExchangeTransactions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsForeignExchangeTransactions" xlink:to="bbd_OtherAssetsForeignExchangeTransactions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en">Other Assets Foreign Exchange Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en-US">Other Assets Foreign Exchange Transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en">Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en-US">Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en">Other assets - Foreign exchange transactions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsForeignExchangeTransactions_lbl" xml:lang="en-US">Other assets - Foreign exchange transactions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsInterbankAndInterbranchReceivables" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsInterbankAndInterbranchReceivables" xlink:to="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en">Other Assets Interbank And Interbranch Receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en-US">Other Assets Interbank And Interbranch Receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en">Interbank and interdepartmental accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en-US">Interbank and interdepartmental accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en">Other assets - Interbank and interbranch receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsInterbankAndInterbranchReceivables_lbl" xml:lang="en-US">Other assets - Interbank and interbranch receivables</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsNegotiationAndIntermediationOfSecurities" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities" xlink:to="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en">Other Assets Negotiation And Intermediation Of Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en-US">Other Assets Negotiation And Intermediation Of Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en">Negotiation and intermediation of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en-US">Negotiation and intermediation of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en">Other assets - Negotiation and intermediation of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsNegotiationAndIntermediationOfSecurities_lbl" xml:lang="en-US">Other assets - Negotiation and intermediation of securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsOthers" xlink:label="bbd_OtherAssetsOthers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsOthers" xlink:to="bbd_OtherAssetsOthers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en">Other Assets Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en-US">Other Assets Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en-US">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en">Other assets - Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsOthers_lbl" xml:lang="en-US">Other assets - Others</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsSundryBorrowers" xlink:label="bbd_OtherAssetsSundryBorrowers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsSundryBorrowers" xlink:to="bbd_OtherAssetsSundryBorrowers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en">Other Assets Sundry Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en-US">Other Assets Sundry Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en">Other debtors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en-US">Other debtors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en">Other assets - Sundry borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsSundryBorrowers_lbl" xml:lang="en-US">Other assets - Sundry borrowers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsTablesAbstract" xlink:label="bbd_OtherAssetsTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsTablesAbstract" xlink:to="bbd_OtherAssetsTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsTablesAbstract_lbl" xml:lang="en">Other assets (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsTablesAbstract_lbl" xml:lang="en-US">Other assets (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsTablesAbstract_lbl" xml:lang="en">Other assets (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsTablesAbstract_lbl" xml:lang="en-US">Other assets (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherAssetsTextBlock" xlink:label="bbd_OtherAssetsTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherAssetsTextBlock" xlink:to="bbd_OtherAssetsTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en">Other Assets Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en-US">Other Assets Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en">Other assets.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherAssetsTextBlock_lbl" xml:lang="en-US">Other assets.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherCashInflows" xlink:label="bbd_OtherCashInflows" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherCashInflows" xlink:to="bbd_OtherCashInflows_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en">Other Cash Inflows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en-US">Other Cash Inflows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en">Other cash inflows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en-US">Other cash inflows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en">Other cash inflows</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherCashInflows_lbl" xml:lang="en-US">Other cash inflows</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherComprehensiveIncomeMember" xlink:label="bbd_OtherComprehensiveIncomeMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherComprehensiveIncomeMember" xlink:to="bbd_OtherComprehensiveIncomeMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en">Other Comprehensive Income [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en-US">Other Comprehensive Income [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en">Other comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en-US">Other comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en">Other comprehensive income [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherComprehensiveIncomeMember_lbl" xml:lang="en-US">Other comprehensive income [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherContingentObligations" xlink:label="bbd_OtherContingentObligations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherContingentObligations" xlink:to="bbd_OtherContingentObligations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en">Other Contingent Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en-US">Other Contingent Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en">Other contingent obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en-US">Other contingent obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en">Other contingent obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherContingentObligations_lbl" xml:lang="en-US">Other contingent obligations</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherContractualObligations" xlink:label="bbd_OtherContractualObligations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherContractualObligations" xlink:to="bbd_OtherContractualObligations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en">Other Contractual Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en-US">Other Contractual Obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en">Other contractual obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en-US">Other contractual obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en">Other contractual obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherContractualObligations_lbl" xml:lang="en-US">Other contractual obligations</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherExposuresSubjectToCreditRisk" xlink:label="bbd_OtherExposuresSubjectToCreditRisk" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherExposuresSubjectToCreditRisk" xlink:to="bbd_OtherExposuresSubjectToCreditRisk_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en">Other Exposures Subject To Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en-US">Other Exposures Subject To Credit Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en">Other exposures subject to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en-US">Other exposures subject to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en">Other exposures subject to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherExposuresSubjectToCreditRisk_lbl" xml:lang="en-US">Other exposures subject to credit risk</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherExposuresSubjectToCreditRiskMember" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherExposuresSubjectToCreditRiskMember" xlink:to="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en">Other Exposures Subject To Credit Risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en-US">Other Exposures Subject To Credit Risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en">Other exposures subject to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en-US">Other exposures subject to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en">Other exposures subject to credit risk [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherExposuresSubjectToCreditRiskMember_lbl" xml:lang="en-US">Other exposures subject to credit risk [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherFinancialAssetsMember" xlink:label="bbd_OtherFinancialAssetsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherFinancialAssetsMember" xlink:to="bbd_OtherFinancialAssetsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en">Other Financial Assets [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en-US">Other Financial Assets [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en-US">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en">Other financial assets [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherFinancialAssetsMember_lbl" xml:lang="en-US">Other financial assets [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherInformationDetailsTextAbstract" xlink:label="bbd_OtherInformationDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherInformationDetailsTextAbstract" xlink:to="bbd_OtherInformationDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en">Other Information Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en-US">Other Information Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en">Other information (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en-US">Other information (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en">Other information (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherInformationDetailsTextAbstract_lbl" xml:lang="en-US">Other information (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesAbstract" xlink:label="bbd_OtherLiabilitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesAbstract" xlink:to="bbd_OtherLiabilitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en">Other liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en-US">Other liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en">Other liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesAbstract_lbl" xml:lang="en-US">Other liabilities [Abstract]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesDetailsTextAbstract" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesDetailsTextAbstract" xlink:to="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en">Other Liabilities Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en-US">Other Liabilities Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en">Other liabilities (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en-US">Other liabilities (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en">Other liabilities (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesDetailsTextAbstract_lbl" xml:lang="en-US">Other liabilities (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesOthers" xlink:label="bbd_OtherLiabilitiesOthers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesOthers" xlink:to="bbd_OtherLiabilitiesOthers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en">Other Liabilities Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en-US">Other Liabilities Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en-US">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en">Other liabilities - Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesOthers_lbl" xml:lang="en-US">Other liabilities - Others</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesProvisionForPayments" xlink:label="bbd_OtherLiabilitiesProvisionForPayments" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesProvisionForPayments" xlink:to="bbd_OtherLiabilitiesProvisionForPayments_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en">Other Liabilities Provision For Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en-US">Other Liabilities Provision For Payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en">Provision for payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en-US">Provision for payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en">Other liabilities - Provision for payments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesProvisionForPayments_lbl" xml:lang="en-US">Other liabilities - Provision for payments</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesSundryCreditors" xlink:label="bbd_OtherLiabilitiesSundryCreditors" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesSundryCreditors" xlink:to="bbd_OtherLiabilitiesSundryCreditors_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en">Other Liabilities Sundry Creditors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en-US">Other Liabilities Sundry Creditors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en">Sundry creditors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en-US">Sundry creditors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en">Other liabilities - Sundry creditors</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesSundryCreditors_lbl" xml:lang="en-US">Other liabilities - Sundry creditors</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesTablesAbstract" xlink:label="bbd_OtherLiabilitiesTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesTablesAbstract" xlink:to="bbd_OtherLiabilitiesTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesTablesAbstract_lbl" xml:lang="en">Other liabilities (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesTablesAbstract_lbl" xml:lang="en-US">Other liabilities (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesTablesAbstract_lbl" xml:lang="en">Other liabilities (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesTablesAbstract_lbl" xml:lang="en-US">Other liabilities (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesTextBlock" xlink:label="bbd_OtherLiabilitiesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesTextBlock" xlink:to="bbd_OtherLiabilitiesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en">Other Liabilities Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en-US">Other Liabilities Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesTextBlock_lbl" xml:lang="en-US">Other liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherLiabilitiesThirdPartyFundsInTransit" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherLiabilitiesThirdPartyFundsInTransit" xlink:to="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en">Other Liabilities Third Party Funds In Transit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en-US">Other Liabilities Third Party Funds In Transit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en">Third party funds in transit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en-US">Third party funds in transit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en">Other liabilities - Third party funds in transit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherLiabilitiesThirdPartyFundsInTransit_lbl" xml:lang="en-US">Other liabilities - Third party funds in transit</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherNoncollateralizedWholesaleFunding" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherNoncollateralizedWholesaleFunding" xlink:to="bbd_OtherNoncollateralizedWholesaleFunding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en">Other Noncollateralized Wholesale Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en-US">Other Noncollateralized Wholesale Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en">Other non-collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en-US">Other non-collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en">Other non-collateralized wholesale funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherNoncollateralizedWholesaleFunding_lbl" xml:lang="en-US">Other non-collateralized wholesale funding</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesAbstract" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesAbstract" xlink:to="bbd_OtherOperatingIncomeexpensesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en">Other operating income/(expenses) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en-US">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en">Other operating income/(expenses) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesDetailsTextAbstract" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract" xlink:to="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en">Other Operating Incomeexpenses Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en-US">Other Operating Incomeexpenses Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en">Other operating income/(expenses) (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en">Other operating income/(expenses) (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesDetailsTextAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax" xlink:to="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en">Other Operating Incomeexpenses Expenses With Taxes Other Than Income Tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en-US">Other Operating Incomeexpenses Expenses With Taxes Other Than Income Tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en">Tax expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en-US">Tax expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en">Other operating income/(expenses) - Expenses with taxes other than income tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax_lbl" xml:lang="en-US">Other operating income/(expenses) - Expenses with taxes other than income tax</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesLegalProvision" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesLegalProvision" xlink:to="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en">Other Operating Incomeexpenses Legal Provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en-US">Other Operating Incomeexpenses Legal Provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en">Legal provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en-US">Legal provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en">Other operating income/(expenses) - Legal provision</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesLegalProvision_lbl" xml:lang="en-US">Other operating income/(expenses) - Legal provision</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesOther" xlink:label="bbd_OtherOperatingIncomeexpensesOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesOther" xlink:to="bbd_OtherOperatingIncomeexpensesOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en">Other Operating Incomeexpenses Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en-US">Other Operating Incomeexpenses Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en-US">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en">Other operating income/(expenses) - Other (1)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesOther_lbl" xml:lang="en-US">Other operating income/(expenses) - Other (1)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesTablesAbstract" xlink:label="bbd_OtherOperatingIncomeexpensesTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesTablesAbstract" xlink:to="bbd_OtherOperatingIncomeexpensesTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesTablesAbstract_lbl" xml:lang="en">Other operating income/(expenses) (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesTablesAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesTablesAbstract_lbl" xml:lang="en">Other operating income/(expenses) (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesTablesAbstract_lbl" xml:lang="en-US">Other operating income/(expenses) (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesTextBlock" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesTextBlock" xlink:to="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en">Other Operating Incomeexpenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en-US">Other Operating Incomeexpenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en-US">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en">Other operating income/(expenses).</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesTextBlock_lbl" xml:lang="en-US">Other operating income/(expenses).</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities" xlink:to="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en">Other Operating Incomeexpenses Variation In Monetary Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en-US">Other Operating Incomeexpenses Variation In Monetary Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en">Variation in monetary liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en-US">Variation in monetary liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en">Other operating income/(expenses) - Variation in monetary liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities_lbl" xml:lang="en-US">Other operating income/(expenses) - Variation in monetary liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OtherOperation" xlink:label="bbd_OtherOperation" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OtherOperation" xlink:to="bbd_OtherOperation_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperation_lbl" xml:lang="en">Other Operation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OtherOperation_lbl" xml:lang="en-US">Other Operation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherOperation_lbl" xml:lang="en">Total assets/liabilities and the net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_OtherOperation_lbl" xml:lang="en-US">Total assets/liabilities and the net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperation_lbl" xml:lang="en">Other operation represents less than 1% of total assets/liabilities and the net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OtherOperation_lbl" xml:lang="en-US">Other operation represents less than 1% of total assets/liabilities and the net income for the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OthersAxis" xlink:label="bbd_OthersAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OthersAxis" xlink:to="bbd_OthersAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersAxis_lbl" xml:lang="en">Others [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersAxis_lbl" xml:lang="en-US">Others [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersAxis_lbl" xml:lang="en">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersAxis_lbl" xml:lang="en-US">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersAxis_lbl" xml:lang="en">Others [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersAxis_lbl" xml:lang="en-US">Others [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OthersDomain" xlink:label="bbd_OthersDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OthersDomain" xlink:to="bbd_OthersDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersDomain_lbl" xml:lang="en">Others [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersDomain_lbl" xml:lang="en-US">Others [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersDomain_lbl" xml:lang="en">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersDomain_lbl" xml:lang="en-US">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersDomain_lbl" xml:lang="en">Others [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersDomain_lbl" xml:lang="en-US">Others [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OthersMember" xlink:label="bbd_OthersMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OthersMember" xlink:to="bbd_OthersMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersMember_lbl" xml:lang="en">Others [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OthersMember_lbl" xml:lang="en-US">Others [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersMember_lbl" xml:lang="en">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OthersMember_lbl" xml:lang="en-US">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersMember_lbl" xml:lang="en">Others [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OthersMember_lbl" xml:lang="en-US">Others [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_OutstandingLoansWhosePaymentsAreFullyUptodate" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate" xlink:to="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en">Outstanding Loans Whose Payments Are Fully Uptodate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en-US">Outstanding Loans Whose Payments Are Fully Uptodate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en">Outstanding loans whose payments are fully up-to-date</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en-US">Outstanding loans whose payments are fully up-to-date</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en">Outstanding loans whose payments are fully up-to-date</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_OutstandingLoansWhosePaymentsAreFullyUptodate_lbl" xml:lang="en-US">Outstanding loans whose payments are fully up-to-date</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PartialSpinoffOfLargeRiskPortfolio" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PartialSpinoffOfLargeRiskPortfolio" xlink:to="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Partial Spinoff Of Large Risk Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Partial Spinoff Of Large Risk Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en">Partial spin-off of large risk portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PartialSpinoffOfLargeRiskPortfolio_lbl" xml:lang="en-US">Partial spin-off of large risk portfolio</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PaymentsOnSecuritiesIssued" xlink:label="bbd_PaymentsOnSecuritiesIssued" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PaymentsOnSecuritiesIssued" xlink:to="bbd_PaymentsOnSecuritiesIssued_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en">Payments On Securities Issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en-US">Payments On Securities Issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en">Payments on securities issued.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en-US">Payments on securities issued.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en">Payments on securities issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="bbd_PaymentsOnSecuritiesIssued_lbl" xml:lang="en-US">Payments on securities issued</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear" xlink:to="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en">Pensions PGBL And Traditional Plans At The Beginning Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Pensions PGBL And Traditional Plans At The Beginning Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en">Pensions - PGBL and Traditional Plans - At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Pensions - PGBL and Traditional Plans - At the beginning of the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PensionsPGBLAndTraditionalPlansMember" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PensionsPGBLAndTraditionalPlansMember" xlink:to="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en">Pensions PGBL And Traditional Plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en-US">Pensions PGBL And Traditional Plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en">Pensions &#8211; PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en-US">Pensions &#8211; PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en">Pensions &#8211; PGBL and Traditional Plans [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPGBLAndTraditionalPlansMember_lbl" xml:lang="en-US">Pensions &#8211; PGBL and Traditional Plans [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PensionsPgblAndTraditionalPlansTextBlock" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PensionsPgblAndTraditionalPlansTextBlock" xlink:to="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en">Pensions Pgbl And Traditional Plans Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en-US">Pensions Pgbl And Traditional Plans Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en">Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en-US">Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en">Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PensionsPgblAndTraditionalPlansTextBlock_lbl" xml:lang="en-US">Pensions - PGBL and Traditional Plans</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PercentAdditionalCapital" xlink:label="bbd_PercentAdditionalCapital" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PercentAdditionalCapital" xlink:to="bbd_PercentAdditionalCapital_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en">Percent Additional Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en-US">Percent Additional Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en">- Additional Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en-US">- Additional Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en">Additional Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentAdditionalCapital_lbl" xml:lang="en-US">Additional Capital</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PercentCapitalAdequacyRatioAB" xlink:to="bbd_PercentCapitalAdequacyRatioAB_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en">Percent Capital Adequacy Ratio AB</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en-US">Percent Capital Adequacy Ratio AB</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en">Basel ratio (a/b)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en-US">Basel ratio (a/b)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en">Capital adequacy ratio (a / b)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentCapitalAdequacyRatioAB_lbl" xml:lang="en-US">Capital adequacy ratio (a / b)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PercentCommonEquity" xlink:label="bbd_PercentCommonEquity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PercentCommonEquity" xlink:to="bbd_PercentCommonEquity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en">Percent Common Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en-US">Percent Common Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en">- Common equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en-US">- Common equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en">Common equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentCommonEquity_lbl" xml:lang="en-US">Common equity</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PercentTierCapital" xlink:label="bbd_PercentTierCapital" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PercentTierCapital" xlink:to="bbd_PercentTierCapital_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en">Percent Tier Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en-US">Percent Tier Capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en">Tier I capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en-US">Tier I capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en">Tier I capital</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentTierCapital_lbl" xml:lang="en-US">Tier I capital</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PercentageAdjustmentToEachAssumption" xlink:label="bbd_PercentageAdjustmentToEachAssumption" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PercentageAdjustmentToEachAssumption" xlink:to="bbd_PercentageAdjustmentToEachAssumption_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en">Percentage Adjustment To Each Assumption</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en-US">Percentage Adjustment To Each Assumption</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en">Percentage adjustment to each assumption:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en-US">Percentage adjustment to each assumption:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en">Percentage adjustment to each assumption:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PercentageAdjustmentToEachAssumption_lbl" xml:lang="en-US">Percentage adjustment to each assumption:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PersonnelExpensesAbstract" xlink:label="bbd_PersonnelExpensesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PersonnelExpensesAbstract" xlink:to="bbd_PersonnelExpensesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesAbstract_lbl" xml:lang="en">Personnel expenses [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesAbstract_lbl" xml:lang="en-US">Personnel expenses [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesAbstract_lbl" xml:lang="en">Personnel expenses [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesAbstract_lbl" xml:lang="en-US">Personnel expenses [Abstract].</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PersonnelExpensesTablesAbstract" xlink:label="bbd_PersonnelExpensesTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PersonnelExpensesTablesAbstract" xlink:to="bbd_PersonnelExpensesTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesTablesAbstract_lbl" xml:lang="en">Personnel expenses (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesTablesAbstract_lbl" xml:lang="en-US">Personnel expenses (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesTablesAbstract_lbl" xml:lang="en">Personnel expenses (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesTablesAbstract_lbl" xml:lang="en-US">Personnel expenses (Tables) [Abstract].</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PersonnelExpensesTextBlock" xlink:label="bbd_PersonnelExpensesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PersonnelExpensesTextBlock" xlink:to="bbd_PersonnelExpensesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en">Personnel Expenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en-US">Personnel Expenses Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en">Personnel expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en-US">Personnel expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en">Personnel expenses.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PersonnelExpensesTextBlock_lbl" xml:lang="en-US">Personnel expenses.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid" xlink:to="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en">Pis Process Related To The Remuneration Of Amounts Unduly Paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en-US">Pis Process Related To The Remuneration Of Amounts Unduly Paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en">PIS process, related to the remuneration of amounts unduly paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en-US">PIS process, related to the remuneration of amounts unduly paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en">PIS process, related to the remuneration of amounts unduly paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid_lbl" xml:lang="en-US">PIS process, related to the remuneration of amounts unduly paid</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution" xlink:to="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Plan Assets Comprise Balance From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Plan Assets Comprise Balance From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Plan assets comprise - Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Plan assets comprise - Balance from an acquired institution</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PlanAssetsCompriseExpectedEarnings" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PlanAssetsCompriseExpectedEarnings" xlink:to="bbd_PlanAssetsCompriseExpectedEarnings_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en">Plan Assets Comprise Expected Earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en-US">Plan Assets Comprise Expected Earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en">Expected earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en-US">Expected earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en">Plan assets comprise - Expected earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlanAssetsCompriseExpectedEarnings_lbl" xml:lang="en-US">Plan assets comprise - Expected earnings</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PlansInDeficit" xlink:label="bbd_PlansInDeficit" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PlansInDeficit" xlink:to="bbd_PlansInDeficit_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en">Plans In Deficit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en-US">Plans In Deficit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en">Plans in deficit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en-US">Plans in deficit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en">Plans in deficit</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlansInDeficit_lbl" xml:lang="en-US">Plans in deficit</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PlansInSurplus" xlink:label="bbd_PlansInSurplus" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PlansInSurplus" xlink:to="bbd_PlansInSurplus_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en">Plans In Surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en-US">Plans In Surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en">Plans in surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en-US">Plans in surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en">Plans in surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PlansInSurplus_lbl" xml:lang="en-US">Plans in surplus</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PolicyOnManagementCompensation" xlink:label="bbd_PolicyOnManagementCompensation" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PolicyOnManagementCompensation" xlink:to="bbd_PolicyOnManagementCompensation_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en">Policy On Management Compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en-US">Policy On Management Compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en">Policy on Management compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en-US">Policy on Management compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en">Policy on Management compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PolicyOnManagementCompensation_lbl" xml:lang="en-US">Policy on Management compensation</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock" xlink:to="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en">Portfolio Of Loans And Advances To Banks As Rated Internally Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en-US">Portfolio Of Loans And Advances To Banks As Rated Internally Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en">Portfolio of loans and advances to banks as rated internally.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en-US">Portfolio of loans and advances to banks as rated internally.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en">Portfolio of loans and advances to banks as rated internally</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock_lbl" xml:lang="en-US">Portfolio of loans and advances to banks as rated internally</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en">Portion Concerning Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en-US">Portion Concerning Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en">Portion concerning Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en-US">Portion concerning Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en">Portion concerning Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortionConcerningMarketRisk_lbl" xml:lang="en-US">Portion concerning Market Risk</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PortionCorrespondingToContractedReinsurance_lbl" xml:lang="en-US">(-) Portion corresponding to contracted reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortionCorrespondingToContractedReinsurance_lbl" xml:lang="en">(-) Portion corresponding to contracted reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PortionCorrespondingToContractedReinsurance_lbl" xml:lang="en-US">(-) Portion corresponding to contracted reinsurance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PostemploymentBenefitsAbstract" xlink:label="bbd_PostemploymentBenefitsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PostemploymentBenefitsAbstract" xlink:to="bbd_PostemploymentBenefitsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en">Postemployment Benefits [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en-US">Postemployment Benefits [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en">Post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en-US">Post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en">Post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsAbstract_lbl" xml:lang="en-US">Post-employment benefits</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans" xlink:to="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en">Postemployment Benefits Defined Contribution Supplementary Pension Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en-US">Postemployment Benefits Defined Contribution Supplementary Pension Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en">Defined contribution supplementary pension plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en-US">Defined contribution supplementary pension plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en">Post-employment benefits - Defined contribution supplementary pension plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans_lbl" xml:lang="en-US">Post-employment benefits - Defined contribution supplementary pension plans</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PostemploymentBenefitsTextBlock" xlink:label="bbd_PostemploymentBenefitsTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PostemploymentBenefitsTextBlock" xlink:to="bbd_PostemploymentBenefitsTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en">Postemployment Benefits Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en-US">Postemployment Benefits Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en">Post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en-US">Post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en">Post-employment benefits.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PostemploymentBenefitsTextBlock_lbl" xml:lang="en-US">Post-employment benefits.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PremiumsOfOptions" xlink:label="bbd_PremiumsOfOptions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PremiumsOfOptions" xlink:to="bbd_PremiumsOfOptions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en">Premiums Of Options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en-US">Premiums Of Options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en">Premiums of options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en-US">Premiums of options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en">Premiums of options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PremiumsOfOptions_lbl" xml:lang="en-US">Premiums of options</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PriceIndices" xlink:label="bbd_PriceIndices" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PriceIndices" xlink:to="bbd_PriceIndices_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PriceIndices_lbl" xml:lang="en">Price Indices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PriceIndices_lbl" xml:lang="en-US">Price Indices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PriceIndices_lbl" xml:lang="en">Price indexes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PriceIndices_lbl" xml:lang="en-US">Price indexes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PriceIndices_lbl" xml:lang="en">Price indices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PriceIndices_lbl" xml:lang="en-US">Price indices</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries" xlink:to="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en">Private Sector Loans And Advances To Customers Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en-US">Private Sector Loans And Advances To Customers Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en">Other industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en-US">Other industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en">Private sector - Loans and advances to customers - Other industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries_lbl" xml:lang="en-US">Private sector - Loans and advances to customers - Other industries</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Private Sector Loans And Advances To Customers Percentage Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Private Sector Loans And Advances To Customers Percentage Other Industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Other industries %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Other industries %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en">Private sector - Loans and advances to customers - Percentage - Other industries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries_lbl" xml:lang="en-US">Private sector - Loans and advances to customers - Percentage - Other industries</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity" xlink:to="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en">Private Sector Loans And Advances To Customers Percentage Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Private Sector Loans And Advances To Customers Percentage Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en">Production and distribution of electricity %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Production and distribution of electricity %</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en">Private sector - Loans and advances to customers - Percentage - Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Private sector - Loans and advances to customers - Percentage - Production and distribution of electricity</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Private Sector Loans And Advances To Customers Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Private Sector Loans And Advances To Customers Production And Distribution Of Electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en">Private sector - Loans and advances to customers - Production and distribution of electricity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity_lbl" xml:lang="en-US">Private sector - Loans and advances to customers - Production and distribution of electricity</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PrivateSecurities" xlink:label="bbd_PrivateSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PrivateSecurities" xlink:to="bbd_PrivateSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en">Private Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en-US">Private Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en">Private securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en-US">Private securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en">Private securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PrivateSecurities_lbl" xml:lang="en-US">Private securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProbabilityOfDefaultPd" xlink:label="bbd_ProbabilityOfDefaultPd" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProbabilityOfDefaultPd" xlink:to="bbd_ProbabilityOfDefaultPd_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en">Probability Of Default Pd</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en-US">Probability Of Default Pd</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en">Probability of default (PD)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en-US">Probability of default (PD)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en">Probability of default (PD)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProbabilityOfDefaultPd_lbl" xml:lang="en-US">Probability of default (PD)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment" xlink:to="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en">Probability Of Default Pd Increased The Allowance For Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en-US">Probability Of Default Pd Increased The Allowance For Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en">Increased the allowance for impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en-US">Increased the allowance for impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en">Probability of default (PD) - Increased the allowance for impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment_lbl" xml:lang="en-US">Probability of default (PD) - Increased the allowance for impairment</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesAmountMember" xlink:label="bbd_ProfitReservesAmountMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesAmountMember" xlink:to="bbd_ProfitReservesAmountMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en">Profit Reserves Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en-US">Profit Reserves Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en">Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en-US">Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en">Profit Reserves - Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesAmountMember_lbl" xml:lang="en-US">Profit Reserves - Amount [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesAxis" xlink:label="bbd_ProfitReservesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesAxis" xlink:to="bbd_ProfitReservesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en">Profit Reserves [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en-US">Profit Reserves [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en">Profit Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en-US">Profit Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en">Profit Reserves [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesAxis_lbl" xml:lang="en-US">Profit Reserves [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesCurrentValueMember" xlink:label="bbd_ProfitReservesCurrentValueMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesCurrentValueMember" xlink:to="bbd_ProfitReservesCurrentValueMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en">Profit Reserves Current Value [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en-US">Profit Reserves Current Value [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en">Current value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en-US">Current value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en">Profit Reserves - Current value [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesCurrentValueMember_lbl" xml:lang="en-US">Profit Reserves - Current value [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesDomain" xlink:label="bbd_ProfitReservesDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesDomain" xlink:to="bbd_ProfitReservesDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en">Profit Reserves [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en-US">Profit Reserves [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en">Profit Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en-US">Profit Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en">Profit Reserves [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesDomain_lbl" xml:lang="en-US">Profit Reserves [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesIncreaseAmountMember" xlink:label="bbd_ProfitReservesIncreaseAmountMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesIncreaseAmountMember" xlink:to="bbd_ProfitReservesIncreaseAmountMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en">Profit Reserves Increase Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en-US">Profit Reserves Increase Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en">Increase amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en-US">Increase amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en">Profit Reserves - Increase amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesIncreaseAmountMember_lbl" xml:lang="en-US">Profit Reserves - Increase amount [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProfitReservesLegalMember" xlink:label="bbd_ProfitReservesLegalMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProfitReservesLegalMember" xlink:to="bbd_ProfitReservesLegalMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en">Profit Reserves Legal [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en-US">Profit Reserves Legal [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en">Profit reserves Legal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en-US">Profit reserves Legal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en">Profit reserves Legal [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProfitReservesLegalMember_lbl" xml:lang="en-US">Profit reserves Legal [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProjectedBenefitObligationsAbstract" xlink:label="bbd_ProjectedBenefitObligationsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProjectedBenefitObligationsAbstract" xlink:to="bbd_ProjectedBenefitObligationsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en">Projected Benefit Obligations [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">Projected Benefit Obligations [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en">Projected benefit obligations:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">Projected benefit obligations:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en">Projected benefit obligations:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsAbstract_lbl" xml:lang="en-US">Projected benefit obligations:</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution" xlink:to="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Projected Benefit Obligations Balance From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Projected Benefit Obligations Balance From An Acquired Institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en">Projected benefit obligations - Balance from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution_lbl" xml:lang="en-US">Projected benefit obligations - Balance from an acquired institution</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProjectedBenefitObligationsBenefitPaid" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ProjectedBenefitObligationsBenefitPaid" xlink:to="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en">Projected Benefit Obligations Benefit Paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en-US">Projected Benefit Obligations Benefit Paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en">Benefit paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en-US">Benefit paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en">Projected benefit obligations - Benefit paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ProjectedBenefitObligationsBenefitPaid_lbl" xml:lang="en-US">Projected benefit obligations - Benefit paid</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_PropertyAndEquipmentDetailsTextAbstract" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_PropertyAndEquipmentDetailsTextAbstract" xlink:to="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en">Property And Equipment Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en-US">Property And Equipment Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en">Property and equipment (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en-US">Property and equipment (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en">Property and equipment (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_PropertyAndEquipmentDetailsTextAbstract_lbl" xml:lang="en-US">Property and equipment (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ProvisionForAdditionalEstimatedCreditLossesCreditPortfolio" xlink:label="bbd_ProvisionForAdditionalEstimatedCreditLossesCreditPortfolio" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RealDiscountRate" xlink:to="bbd_RealDiscountRate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en">Real Discount Rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en-US">Real Discount Rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en">Real discount rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en-US">Real discount rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en">Real discount rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealDiscountRate_lbl" xml:lang="en-US">Real discount rate</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RealEstateCreditNotes" xlink:label="bbd_RealEstateCreditNotes" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RealEstateCreditNotes" xlink:to="bbd_RealEstateCreditNotes_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en">Real Estate Credit Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en-US">Real Estate Credit Notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en">Real estate credit notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en-US">Real estate credit notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en">Real estate credit notes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealEstateCreditNotes_lbl" xml:lang="en-US">Real estate credit notes</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale" xlink:to="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en">Realized Gainslosses On Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Realized Gainslosses On Financial Assets Available For Sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en">Realized gains/(losses) on financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Realized gains/(losses) on financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en">Realized gains/(losses) on financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale_lbl" xml:lang="en-US">Realized gains/(losses) on financial assets available for sale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract" xlink:to="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Reconciliation Of All Assets And Liabilities Measured At Fair Value [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Reconciliation Of All Assets And Liabilities Measured At Fair Value [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Reconciliation of all assets and liabilities measured at fair value</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en">Reconciliation Of All Assets And Liabilities Measured At Fair Value Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en-US">Reconciliation Of All Assets And Liabilities Measured At Fair Value Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en-US">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en">Reconciliation of all assets and liabilities measured at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock_lbl" xml:lang="en-US">Reconciliation of all assets and liabilities measured at fair value</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RecordedInOffbalanceSheetAccountsMember" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en">Recorded In Offbalance Sheet Accounts [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en-US">Recorded In Offbalance Sheet Accounts [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en">Recorded in off-balance sheet accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en-US">Recorded in off-balance sheet accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en">Recorded in off-balance sheet accounts [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RecordedInOffbalanceSheetAccountsMember_lbl" xml:lang="en-US">Recorded in off-balance sheet accounts [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RecoveryOfCreditsChargedoffAsLoss" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RecoveryOfCreditsChargedoffAsLoss" xlink:to="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en">Recovery Of Credits Chargedoff As Loss</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en-US">Recovery Of Credits Chargedoff As Loss</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en">Recovery of credits charged-off as losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en-US">Recovery of credits charged-off as losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en">Impairment of loans and advances - Recovery of credits charged-off as loss</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RecoveryOfCreditsChargedoffAsLoss_lbl" xml:lang="en-US">Impairment of loans and advances - Recovery of credits charged-off as loss</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReductionOfApproximately" xlink:label="bbd_ReductionOfApproximately" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReductionOfApproximately" xlink:to="bbd_ReductionOfApproximately_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en">Reduction Of Approximately</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en-US">Reduction Of Approximately</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en">Reduction of approximately</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en-US">Reduction of approximately</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en">Reduction of approximately</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReductionOfApproximately_lbl" xml:lang="en-US">Reduction of approximately</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">Reduction Of Approximately Shareholders Equity Net Of Tax Effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">Reduction Of Approximately Shareholders Equity Net Of Tax Effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">Reduction of approximately - Shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">Reduction of approximately - Shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">Reduction of approximately - Shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">Reduction of approximately - Shareholders&#39; equity, net of tax effects</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceAbstract" xlink:to="bbd_ReinsuranceAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en">Reinsurance [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en-US">Reinsurance [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en-US">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAbstract_lbl" xml:lang="en-US">Reinsurance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceAutoMember" xlink:label="bbd_ReinsuranceAutoMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceAutoMember" xlink:to="bbd_ReinsuranceAutoMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en">Reinsurance Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en-US">Reinsurance Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en">Auto</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en-US">Auto</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en">Reinsurance: Auto [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAutoMember_lbl" xml:lang="en-US">Reinsurance: Auto [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceAxis" xlink:label="bbd_ReinsuranceAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceAxis" xlink:to="bbd_ReinsuranceAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en">Reinsurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en-US">Reinsurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en-US">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en">Reinsurance [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceAxis_lbl" xml:lang="en-US">Reinsurance [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceDomain" xlink:label="bbd_ReinsuranceDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceDomain" xlink:to="bbd_ReinsuranceDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en">Reinsurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en-US">Reinsurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en-US">Reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en">Reinsurance [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceDomain_lbl" xml:lang="en-US">Reinsurance [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceGrossOfReinsuranceMember" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceGrossOfReinsuranceMember" xlink:to="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en">Reinsurance Gross Of Reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en-US">Reinsurance Gross Of Reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en">Gross of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en-US">Gross of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en">Reinsurance: Gross of reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceGrossOfReinsuranceMember_lbl" xml:lang="en-US">Reinsurance: Gross of reinsurance [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceHealthMember" xlink:to="bbd_ReinsuranceHealthMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en">Reinsurance Health [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en-US">Reinsurance Health [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en">Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en-US">Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en">Reinsurance: Health [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceHealthMember_lbl" xml:lang="en-US">Reinsurance: Health [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceLifeMember" xlink:label="bbd_ReinsuranceLifeMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceLifeMember" xlink:to="bbd_ReinsuranceLifeMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en">Reinsurance Life [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en-US">Reinsurance Life [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en">Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en-US">Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en">Reinsurance: Life [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceLifeMember_lbl" xml:lang="en-US">Reinsurance: Life [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceNetOfReinsuranceMember" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceNetOfReinsuranceMember" xlink:to="bbd_ReinsuranceNetOfReinsuranceMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en">Reinsurance Net Of Reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en-US">Reinsurance Net Of Reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en">Net of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en-US">Net of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en">Reinsurance: Net of reinsurance [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceNetOfReinsuranceMember_lbl" xml:lang="en-US">Reinsurance: Net of reinsurance [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsurancePremiums" xlink:label="bbd_ReinsurancePremiums" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsurancePremiums" xlink:to="bbd_ReinsurancePremiums_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en">Reinsurance Premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en-US">Reinsurance Premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en">Reinsurance premiums paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en-US">Reinsurance premiums paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en">Reinsurance premiums</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsurancePremiums_lbl" xml:lang="en-US">Reinsurance premiums</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ReinsuranceREElementaryBranchMember" xlink:label="bbd_ReinsuranceREElementaryBranchMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ReinsuranceREElementaryBranchMember" xlink:to="bbd_ReinsuranceREElementaryBranchMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en">Reinsurance RE Elementary Branch [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en-US">Reinsurance RE Elementary Branch [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en-US">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en">Reinsurance: RE (Elementary branch) [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ReinsuranceREElementaryBranchMember_lbl" xml:lang="en-US">Reinsurance: RE (Elementary branch) [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en">Related To Exposure To Derivatives And Other Collateral Requirements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en-US">Related To Exposure To Derivatives And Other Collateral Requirements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en">Related to exposure to derivatives and other collateral requirements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en-US">Related to exposure to derivatives and other collateral requirements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en">Related to exposure to derivatives and other collateral requirements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements_lbl" xml:lang="en-US">Related to exposure to derivatives and other collateral requirements</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en">Related To Funding Losses Through The Issue Of Debt Instruments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en-US">Related To Funding Losses Through The Issue Of Debt Instruments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en">Related to funding losses through the issue of debt instruments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en-US">Related to funding losses through the issue of debt instruments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en">Related to funding losses through the issue of debt instruments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments_lbl" xml:lang="en-US">Related to funding losses through the issue of debt instruments</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RelatedToLinesOfCreditAndLiquidity" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en">Related To Lines Of Credit And Liquidity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en-US">Related To Lines Of Credit And Liquidity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en">Related to lines of credit and liquidity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en-US">Related to lines of credit and liquidity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en">Related to lines of credit and liquidity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RelatedToLinesOfCreditAndLiquidity_lbl" xml:lang="en-US">Related to lines of credit and liquidity</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Renegotiated Loans And Advances At The Beginning Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear_lbl" xml:lang="en">Opening balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Opening balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear_lbl" xml:lang="en">Renegotiated loans and advances at the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear_lbl" xml:lang="en-US">Renegotiated loans and advances at the beginning of the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en">Renegotiated Loans And Advances At The End Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en-US">Renegotiated Loans And Advances At The End Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en">Closing balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en-US">Closing balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en">Renegotiated loans and advances at the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear_lbl" xml:lang="en-US">Renegotiated loans and advances at the end of the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract" xlink:label="bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract" xlink:to="bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en">Renegotiated Loans And Advances To Customers [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract_lbl" xml:lang="en-US">Renegotiated Loans And Advances To Customers [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaCreditRisk_lbl" xml:lang="en-US">Credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaCreditRisk_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaCreditRisk_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Credit risk</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaEquities" xlink:to="bbd_RiskweightedAssetsRwaEquities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en">Riskweighted Assets Rwa Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en-US">Riskweighted Assets Rwa Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en-US">Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Equities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaEquities_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Equities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange" xlink:to="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en">Riskweighted Assets Rwa Exposure To Gold Foreign Currencies And Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en-US">Riskweighted Assets Rwa Exposure To Gold Foreign Currencies And Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en">Exposure to Gold, Foreign Currencies and Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en-US">Exposure to Gold, Foreign Currencies and Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Exposure to Gold, Foreign Currencies and Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Exposure to Gold, Foreign Currencies and Exchange</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaFinancialAgentServices" xlink:to="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en">Riskweighted Assets Rwa Financial Agent Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en-US">Riskweighted Assets Rwa Financial Agent Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en">Financial Agent Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en-US">Financial Agent Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Financial Agent Services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaFinancialAgentServices_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Financial Agent Services</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaFixedrateInReais" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaFixedrateInReais" xlink:to="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en">Riskweighted Assets Rwa Fixedrate In Reais</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en-US">Riskweighted Assets Rwa Fixedrate In Reais</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en">Fixed-rate in Reais</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en-US">Fixed-rate in Reais</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Fixed-rate in Reais</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaFixedrateInReais_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Fixed-rate in Reais</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaForeignCurrencyCoupon" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon" xlink:to="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en">Riskweighted Assets Rwa Foreign Currency Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en-US">Riskweighted Assets Rwa Foreign Currency Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en">Foreign Currency Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en-US">Foreign Currency Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Foreign Currency Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaForeignCurrencyCoupon_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Foreign Currency Coupon</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaInterestRateCoupon" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaInterestRateCoupon" xlink:to="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en">Riskweighted Assets Rwa Interest Rate Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en-US">Riskweighted Assets Rwa Interest Rate Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en">Interest Rate Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en-US">Interest Rate Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Interest Rate Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaInterestRateCoupon_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Interest Rate Coupon</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaMarketRisk" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaMarketRisk" xlink:to="bbd_RiskweightedAssetsRwaMarketRisk_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en">Riskweighted Assets Rwa Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en-US">Riskweighted Assets Rwa Market Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en">Market risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en-US">Market risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Market risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaMarketRisk_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Market risk</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaOperationalRisk" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaOperationalRisk" xlink:to="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en">Riskweighted Assets Rwa Operational Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en-US">Riskweighted Assets Rwa Operational Risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en">Operational risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en-US">Operational risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Operational risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaOperationalRisk_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Operational risk</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaPaymentAndSettlement" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en">Riskweighted Assets Rwa Payment And Settlement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en-US">Riskweighted Assets Rwa Payment And Settlement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en">Payment and Settlement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en-US">Payment and Settlement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Payment and Settlement</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaPaymentAndSettlement_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Payment and Settlement</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaPriceIndexCoupon" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaPriceIndexCoupon" xlink:to="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en">Riskweighted Assets Rwa Price Index Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en-US">Riskweighted Assets Rwa Price Index Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en">Price Index Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en-US">Price Index Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Price Index Coupon</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaPriceIndexCoupon_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Price Index Coupon</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaRetail" xlink:label="bbd_RiskweightedAssetsRwaRetail" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaRetail" xlink:to="bbd_RiskweightedAssetsRwaRetail_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en">Riskweighted Assets Rwa Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en-US">Riskweighted Assets Rwa Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en">Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en-US">Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Retail</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaRetail_lbl" xml:lang="en-US">Risk-Weighted Assets (RWA) - Retail</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_RiskweightedAssetsRwaRetailBrokerage" xlink:label="bbd_RiskweightedAssetsRwaRetailBrokerage" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_RiskweightedAssetsRwaRetailBrokerage" xlink:to="bbd_RiskweightedAssetsRwaRetailBrokerage_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_RiskweightedAssetsRwaRetailBrokerage_lbl" xml:lang="en">Riskweighted Assets Rwa Retail Brokerage</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaTradingAndSales_lbl" xml:lang="en">Trading and Sales</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_RiskweightedAssetsRwaTradingAndSales_lbl" xml:lang="en-US">Trading and Sales</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_RiskweightedAssetsRwaTradingAndSales_lbl" xml:lang="en">Risk-Weighted Assets (RWA) - Trading and Sales</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en">Scenario [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en">Scenario</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en-US">Scenario</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en">Scenario [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioAxis_lbl" xml:lang="en-US">Scenario [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en">Scenario [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en">Scenario</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en-US">Scenario</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en">Scenario [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioDomain_lbl" xml:lang="en-US">Scenario [Domain]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ScenarioExchangeRateMember" xlink:to="bbd_ScenarioExchangeRateMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en">Scenario Exchange Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en-US">Scenario Exchange Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en">Exchange rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en-US">Exchange rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en">Scenario - Exchange rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioExchangeRateMember_lbl" xml:lang="en-US">Scenario - Exchange rate [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ScenarioForA1YearFixedInterestRateMember" xlink:to="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en">Scenario For A 1 Year Fixed Interest Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en-US">Scenario For A 1 Year Fixed Interest Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en">For a 1-year fixed interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en-US">For a 1-year fixed interest rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en">Scenario - For a 1-year fixed interest rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioForA1YearFixedInterestRateMember_lbl" xml:lang="en-US">Scenario - For a 1-year fixed interest rate [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en">Scenario Scenario Was Applied [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en-US">Scenario Scenario Was Applied [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en">Scenario was applied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en-US">Scenario was applied</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en">Scenario - Scenario was applied [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioScenarioWasAppliedMember_lbl" xml:lang="en-US">Scenario - Scenario was applied [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ScenarioScenarioWasUsedMember" xlink:label="bbd_ScenarioScenarioWasUsedMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en">Scenario Scenario Was Used [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en-US">Scenario Scenario Was Used [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en">Scenario was used</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en-US">Scenario was used</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en">Scenario - Scenario was used [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioScenarioWasUsedMember_lbl" xml:lang="en-US">Scenario - Scenario was used [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ScenarioVariationOnPricesMember" xlink:label="bbd_ScenarioVariationOnPricesMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en">Scenario Variation On Prices [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en-US">Scenario Variation On Prices [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en">Variation on prices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en-US">Variation on prices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en">Scenario - Variation on prices [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ScenarioVariationOnPricesMember_lbl" xml:lang="en-US">Scenario - Variation on prices [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SecuritiesIssuedThroughSecuritization" xlink:label="bbd_SecuritiesIssuedThroughSecuritization" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SecuritiesIssuedThroughSecuritization" xlink:to="bbd_SecuritiesIssuedThroughSecuritization_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en">Securities Issued Through Securitization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en-US">Securities Issued Through Securitization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en">Balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en-US">Balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en">Securities issued through securitization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritization_lbl" xml:lang="en-US">Securities issued through securitization</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member" xlink:to="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" xml:lang="en">Securities Issued Through Securitization Date Of Issue 11162011 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" xml:lang="en-US">Securities Issued Through Securitization Date Of Issue 11162011 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" xml:lang="en">Date of Issue: 11.16.2011</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" xml:lang="en">Securities issued through securitization - Date of Issue: 11.16.2011 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member_lbl" xml:lang="en-US">Securities issued through securitization - Date of Issue: 11.16.2011 [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en">Securities Issued Through Securitization Date Of Issue 12172009 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en-US">Securities Issued Through Securitization Date Of Issue 12172009 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en">Date of Issue: 12.17.2009</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en-US">Date of Issue: 12.17.2009</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en">Securities issued through securitization - Date of Issue: 12.17.2009 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member_lbl" xml:lang="en-US">Securities issued through securitization - Date of Issue: 12.17.2009 [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member" xlink:to="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en">Securities Issued Through Securitization Date Of Issue 12192008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en-US">Securities Issued Through Securitization Date Of Issue 12192008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en">Date of Issue: 12.19.2008</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en-US">Date of Issue: 12.19.2008</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en">Securities issued through securitization - Date of Issue: 12.19.2008 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member_lbl" xml:lang="en-US">Securities issued through securitization - Date of Issue: 12.19.2008 [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12232015Member_lbl" xml:lang="en">Securities Issued Through Securitization Date Of Issue 12232015 [Member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestAllPlansretirementBenefitPeriod_lbl" xml:lang="en-US">Sensibility Test All Plansretirement Benefit Period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestAllPlansretirementBenefitPeriod_lbl" xml:lang="en">All plans(retirement benefit period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestAllPlansretirementBenefitPeriod_lbl" xml:lang="en-US">All plans(retirement benefit period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestAllPlansretirementBenefitPeriod_lbl" xml:lang="en">All plans(retirement benefit period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestAllPlansretirementBenefitPeriod_lbl" xml:lang="en-US">All plans(retirement benefit period)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract_lbl" xml:lang="en-US">Sensibility Test For Life Insurance With Survival [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract_lbl" xml:lang="en">Sensibility test for Life Insurance with Survival</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract_lbl" xml:lang="en-US">Sensibility test for Life Insurance with Survival</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract_lbl" xml:lang="en">Sensibility test for Life Insurance with Survival</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract_lbl" xml:lang="en-US">Sensibility test for Life Insurance with Survival</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en">Sensibility Test For Life Insurance With Survival Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en-US">Sensibility Test For Life Insurance With Survival Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en">Sensibility test for Life Insurance with Survival - Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal_lbl" xml:lang="en-US">Sensibility test for Life Insurance with Survival - Total</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SensibilityTestPgblAndVgblContributingPeriod" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en">Sensibility Test Pgbl And Vgbl Contributing Period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en-US">Sensibility Test Pgbl And Vgbl Contributing Period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en">PGBL and VGBL (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en-US">PGBL and VGBL (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en">PGBL and VGBL (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestPgblAndVgblContributingPeriod_lbl" xml:lang="en-US">PGBL and VGBL (contributing period)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en">Sensibility Test Tradicional Plans Contributing Period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en-US">Sensibility Test Tradicional Plans Contributing Period</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en">Tradicional plans (contributing period)Tradicional plans (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en-US">Tradicional plans (contributing period)Tradicional plans (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en">Tradicional plans (contributing period)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensibilityTestTradicionalPlansContributingPeriod_lbl" xml:lang="en-US">Tradicional plans (contributing period)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en">Sensitivity Analysis [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en-US">Sensitivity Analysis [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en">Sensitivity Analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en-US">Sensitivity Analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en">Sensitivity analysis [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisAxis_lbl" xml:lang="en-US">Sensitivity analysis [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en">Sensitivity Analysis Decrease Of 1 BP [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en-US">Sensitivity Analysis Decrease Of 1 BP [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en">Sensitivity analysis: Decrease of 1 b.p.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en-US">Sensitivity analysis: Decrease of 1 b.p.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en">Sensitivity analysis: Decrease of 1 b.p. [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisDecreaseOf1BPMember_lbl" xml:lang="en-US">Sensitivity analysis: Decrease of 1 b.p. [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SensitivityAnalysisDomain" xlink:to="bbd_SensitivityAnalysisDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en">Sensitivity Analysis [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en-US">Sensitivity Analysis [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en">Sensitivity Analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en-US">Sensitivity Analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en">Sensitivity analysis [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisDomain_lbl" xml:lang="en-US">Sensitivity analysis [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en">Sensitivity Analysis For Financial Assets Classified As Level 3 [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en-US">Sensitivity Analysis For Financial Assets Classified As Level 3 [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en">Sensitivity Analysis For Financial Assets Classified As Level 3 [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en-US">Sensitivity Analysis For Financial Assets Classified As Level 3 [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3 [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3 [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en">Sensitivity Analysis For Financial Assets Classified As Level 3 [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en-US">Sensitivity Analysis For Financial Assets Classified As Level 3 [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en">Sensitivity analysis for financial assets classified as Level 3 [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Domain_lbl" xml:lang="en-US">Sensitivity analysis for financial assets classified as Level 3 [Domain]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnIncome3Member_lbl" xml:lang="en-US">Sensitivity Analysis For Financial Assets Classified As Level Impact On Income 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnIncome3Member_lbl" xml:lang="en">Impact on income</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SharesAcquiredAndNotCancelled_lbl" xml:lang="en-US">Shares acquired and not cancelled</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ShorttermBenefitsForManagementAbstract" xlink:label="bbd_ShorttermBenefitsForManagementAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ShorttermBenefitsForManagementAbstract" xlink:to="bbd_ShorttermBenefitsForManagementAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en">Shortterm Benefits For Management [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en-US">Shortterm Benefits For Management [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en">Short-term benefits for management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en-US">Short-term benefits for management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en">Short-term benefits for management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementAbstract_lbl" xml:lang="en-US">Short-term benefits for management</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ShorttermBenefitsForManagementSalaries" xlink:label="bbd_ShorttermBenefitsForManagementSalaries" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ShorttermBenefitsForManagementSalaries" xlink:to="bbd_ShorttermBenefitsForManagementSalaries_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en">Shortterm Benefits For Management Salaries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en-US">Shortterm Benefits For Management Salaries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en">Salaries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en-US">Salaries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en">Short-term benefits for management - Salaries</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementSalaries_lbl" xml:lang="en-US">Short-term benefits for management - Salaries</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_ShorttermBenefitsForManagementTextBlock" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_ShorttermBenefitsForManagementTextBlock" xlink:to="bbd_ShorttermBenefitsForManagementTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en">Shortterm Benefits For Management Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en-US">Shortterm Benefits For Management Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en">Short-term benefits for management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en-US">Short-term benefits for management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en">Short-term benefits for management.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ShorttermBenefitsForManagementTextBlock_lbl" xml:lang="en-US">Short-term benefits for management.</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SignificantAccountingPoliciesAbstract" xlink:label="bbd_SignificantAccountingPoliciesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SignificantAccountingPoliciesAbstract" xlink:to="bbd_SignificantAccountingPoliciesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesAbstract_lbl" xml:lang="en">Significant Accounting Policies [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesAbstract_lbl" xml:lang="en">Significant Accounting Policies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SignificantAccountingPoliciesDetailsTextAbstract" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SignificantAccountingPoliciesDetailsTextAbstract" xlink:to="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en">Significant Accounting Policies Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en-US">Significant Accounting Policies Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en">Significant Accounting Policies (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en">Significant Accounting Policies (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesDetailsTextAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Details Text)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SignificantAccountingPoliciesPoliciesAbstract" xlink:label="bbd_SignificantAccountingPoliciesPoliciesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SignificantAccountingPoliciesPoliciesAbstract" xlink:to="bbd_SignificantAccountingPoliciesPoliciesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en">Significant Accounting Policies (Policies) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Policies) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en">Significant Accounting Policies (Policies) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Policies) [Abstract]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SignificantAccountingPoliciesTablesAbstract" xlink:label="bbd_SignificantAccountingPoliciesTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SignificantAccountingPoliciesTablesAbstract" xlink:to="bbd_SignificantAccountingPoliciesTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en">Significant Accounting Policies (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en">Significant Accounting Policies (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Tables) [Abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SignificantAccountingPoliciesTextBlock" xlink:label="bbd_SignificantAccountingPoliciesTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SignificantAccountingPoliciesTextBlock" xlink:to="bbd_SignificantAccountingPoliciesTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en">Significant Accounting Policies Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en">Significant Accounting Policies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en">Significant Accounting Policies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Significant Accounting Policies</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionAxis" xlink:label="bbd_SocialContributionAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionAxis" xlink:to="bbd_SocialContributionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en">Social Contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en-US">Social Contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en-US">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en">Social contribution [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionAxis_lbl" xml:lang="en-US">Social contribution [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionChangedAccordingToLawNo1316915Member" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionChangedAccordingToLawNo1316915Member" xlink:to="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en">Social Contribution Changed According To Law No 1316915 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en-US">Social Contribution Changed According To Law No 1316915 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en">Changed according to Law no 13,169/15</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en-US">Changed according to Law no 13,169/15</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en">Social contribution - Changed according to Law no 13,169/15 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionChangedAccordingToLawNo1316915Member_lbl" xml:lang="en-US">Social contribution - Changed according to Law no 13,169/15 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionDomain" xlink:label="bbd_SocialContributionDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionDomain" xlink:to="bbd_SocialContributionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en">Social Contribution [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en-US">Social Contribution [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en-US">Social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en">Social contribution [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionDomain_lbl" xml:lang="en-US">Social contribution [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember" xlink:to="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en">Social Contribution For Financial Companies Financial Company Equivalent And Of The Insurance Industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en-US">Social Contribution For Financial Companies Financial Company Equivalent And Of The Insurance Industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en">For financial companies, financial company equivalent and of the insurance industry</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en-US">For financial companies, financial company equivalent and of the insurance industry</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en">Social contribution - For financial companies, financial company equivalent and of the insurance industry [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember_lbl" xml:lang="en-US">Social contribution - For financial companies, financial company equivalent and of the insurance industry [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionForTheOtherCompaniesMember" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionForTheOtherCompaniesMember" xlink:to="bbd_SocialContributionForTheOtherCompaniesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en">Social Contribution For The Other Companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en-US">Social Contribution For The Other Companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en">For the other companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en-US">For the other companies</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en">Social contribution - For the other companies [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionForTheOtherCompaniesMember_lbl" xml:lang="en-US">Social contribution - For the other companies [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialContributionReturningToTheRateMember" xlink:label="bbd_SocialContributionReturningToTheRateMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialContributionReturningToTheRateMember" xlink:to="bbd_SocialContributionReturningToTheRateMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en">Social Contribution Returning To The Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en-US">Social Contribution Returning To The Rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en">Returning to the rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en-US">Returning to the rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en">Social contribution - Returning to the rate [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialContributionReturningToTheRateMember_lbl" xml:lang="en-US">Social contribution - Returning to the rate [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders" xlink:to="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en">Social Security Contribution On Remunerations Paid To Thirdparty Service Providers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en-US">Social Security Contribution On Remunerations Paid To Thirdparty Service Providers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en">Social security contribution on remunerations paid to third-party service providers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en-US">Social security contribution on remunerations paid to third-party service providers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en">Social security contribution on remunerations paid to third-party service providers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders_lbl" xml:lang="en-US">Social security contribution on remunerations paid to third-party service providers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional" xlink:to="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en">Social Security Contribution On Remunerations Paid To Thirdparty Service Providers Additional</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en-US">Social Security Contribution On Remunerations Paid To Thirdparty Service Providers Additional</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en">Social security contribution on remunerations paid to third-party service providers - Additional</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en-US">Social security contribution on remunerations paid to third-party service providers - Additional</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en">Social security contribution on remunerations paid to third-party service providers - Additional</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional_lbl" xml:lang="en-US">Social security contribution on remunerations paid to third-party service providers - Additional</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SpecialTaxRegularizationProgramPert" xlink:label="bbd_SpecialTaxRegularizationProgramPert" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SpecialTaxRegularizationProgramPert" xlink:to="bbd_SpecialTaxRegularizationProgramPert_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en">Special Tax Regularization Program Pert</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en-US">Special Tax Regularization Program Pert</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en">Special Tax Regularization Program (PERT)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en-US">Special Tax Regularization Program (PERT)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en">Special Tax Regularization Program (PERT)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SpecialTaxRegularizationProgramPert_lbl" xml:lang="en-US">Special Tax Regularization Program (PERT)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost" xlink:to="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en">Special Voluntary Severance Program Scheme Pdve Total Cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en-US">Special Voluntary Severance Program Scheme Pdve Total Cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en">Special Voluntary Severance Program Scheme (PDVE) - Total cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en-US">Special Voluntary Severance Program Scheme (PDVE) - Total cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en">Special Voluntary Severance Program Scheme (PDVE) - Total cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost_lbl" xml:lang="en-US">Special Voluntary Severance Program Scheme (PDVE) - Total cost</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_StableFunding" xlink:label="bbd_StableFunding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_StableFunding" xlink:to="bbd_StableFunding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StableFunding_lbl" xml:lang="en">Stable Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StableFunding_lbl" xml:lang="en-US">Stable Funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_StableFunding_lbl" xml:lang="en">Stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_StableFunding_lbl" xml:lang="en-US">Stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StableFunding_lbl" xml:lang="en">Stable funding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StableFunding_lbl" xml:lang="en-US">Stable funding</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Stage1Member" xlink:label="bbd_Stage1Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Stage1Member" xlink:to="bbd_Stage1Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage1Member_lbl" xml:lang="en">Stage 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage1Member_lbl" xml:lang="en-US">Stage 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage1Member_lbl" xml:lang="en">Stage 1</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage1Member_lbl" xml:lang="en-US">Stage 1</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage1Member_lbl" xml:lang="en">Stage 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage1Member_lbl" xml:lang="en-US">Stage 1 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Stage2Member" xlink:label="bbd_Stage2Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Stage2Member" xlink:to="bbd_Stage2Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage2Member_lbl" xml:lang="en">Stage 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage2Member_lbl" xml:lang="en-US">Stage 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage2Member_lbl" xml:lang="en">Stage 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage2Member_lbl" xml:lang="en-US">Stage 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage2Member_lbl" xml:lang="en">Stage 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage2Member_lbl" xml:lang="en-US">Stage 2 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Stage3Member" xlink:label="bbd_Stage3Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Stage3Member" xlink:to="bbd_Stage3Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage3Member_lbl" xml:lang="en">Stage 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Stage3Member_lbl" xml:lang="en-US">Stage 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage3Member_lbl" xml:lang="en">Stage 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Stage3Member_lbl" xml:lang="en-US">Stage 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage3Member_lbl" xml:lang="en">Stage 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Stage3Member_lbl" xml:lang="en-US">Stage 3 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_StatementLineItems" xlink:label="bbd_StatementLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_StatementLineItems" xlink:to="bbd_StatementLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatementLineItems_lbl" xml:lang="en">Statement Line Items [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatementLineItems_lbl" xml:lang="en-US">Statement Line Items [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatementLineItems_lbl" xml:lang="en">Statement Line Items [Line Items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatementLineItems_lbl" xml:lang="en-US">Statement Line Items [Line Items]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_StatementTable" xlink:label="bbd_StatementTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_StatementTable" xlink:to="bbd_StatementTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatementTable_lbl" xml:lang="en">Statement Table [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatementTable_lbl" xml:lang="en-US">Statement Table [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatementTable_lbl" xml:lang="en">Statement Table [Table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatementTable_lbl" xml:lang="en-US">Statement Table [Table]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations" xlink:to="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en">Statutory Reserve Net Income Remaining After Statutory Allocations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en-US">Statutory Reserve Net Income Remaining After Statutory Allocations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en">Statutory Reserve - net income remaining after statutory allocations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en-US">Statutory Reserve - net income remaining after statutory allocations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en">Statutory Reserve - net income remaining after statutory allocations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations_lbl" xml:lang="en-US">Statutory Reserve - net income remaining after statutory allocations</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_StressAnalysisTradingPortfolioAbstract" xlink:label="bbd_StressAnalysisTradingPortfolioAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_StressAnalysisTradingPortfolioAbstract" xlink:to="bbd_StressAnalysisTradingPortfolioAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StressAnalysisTradingPortfolioAbstract_lbl" xml:lang="en">Stress Analysis Trading Portfolio [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_StressAnalysisTradingPortfolioAbstract_lbl" xml:lang="en-US">Stress Analysis Trading Portfolio [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_StressAnalysisTradingPortfolioAbstract_lbl" xml:lang="en">Stress Analysis - Trading Portfolio</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtIssuances" xlink:label="bbd_SubordinatedDebtIssuances" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtIssuances" xlink:to="bbd_SubordinatedDebtIssuances_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en">Subordinated Debt Issuances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en-US">Subordinated Debt Issuances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en">Issuances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en-US">Issuances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en">Subordinated debt - Issuances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtIssuances_lbl" xml:lang="en-US">Subordinated debt - Issuances</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2017Member" xlink:label="bbd_SubordinatedDebtMaturity2017Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2017Member" xlink:to="bbd_SubordinatedDebtMaturity2017Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en">Subordinated Debt Maturity 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en">Maturity: 2017</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en-US">Maturity: 2017</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2017Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2017 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2018Member" xlink:label="bbd_SubordinatedDebtMaturity2018Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2018Member" xlink:to="bbd_SubordinatedDebtMaturity2018Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en">Subordinated Debt Maturity 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en">Maturity: 2018</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en-US">Maturity: 2018</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2018Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2018 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2019Member" xlink:label="bbd_SubordinatedDebtMaturity2019Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2019Member" xlink:to="bbd_SubordinatedDebtMaturity2019Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en">Subordinated Debt Maturity 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en">Maturity: 2019</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en-US">Maturity: 2019</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2019Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2019 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2020Member" xlink:label="bbd_SubordinatedDebtMaturity2020Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2020Member" xlink:to="bbd_SubordinatedDebtMaturity2020Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en">Subordinated Debt Maturity 2020 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2020 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en">Maturity: 2020</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en-US">Maturity: 2020</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2020 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2020Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2020 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2021Member" xlink:label="bbd_SubordinatedDebtMaturity2021Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2021Member" xlink:to="bbd_SubordinatedDebtMaturity2021Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en">Subordinated Debt Maturity 2021 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2021 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en">Maturity: 2021</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en-US">Maturity: 2021</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2021 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2021Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2021 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2022Member" xlink:label="bbd_SubordinatedDebtMaturity2022Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2022Member" xlink:to="bbd_SubordinatedDebtMaturity2022Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en">Subordinated Debt Maturity 2022 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2022 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en">Maturity: 2022</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en-US">Maturity: 2022</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2022 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2022Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2022 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2023Member" xlink:label="bbd_SubordinatedDebtMaturity2023Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2023Member" xlink:to="bbd_SubordinatedDebtMaturity2023Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en">Subordinated Debt Maturity 2023 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2023 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en">Maturity: 2023</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en-US">Maturity: 2023</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2023 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2023Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2023 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2024Member" xlink:label="bbd_SubordinatedDebtMaturity2024Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2024Member" xlink:to="bbd_SubordinatedDebtMaturity2024Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en">Subordinated Debt Maturity 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en">Maturity: 2024</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en-US">Maturity: 2024</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2024 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2024Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2024 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2025Member" xlink:label="bbd_SubordinatedDebtMaturity2025Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2025Member" xlink:to="bbd_SubordinatedDebtMaturity2025Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en">Subordinated Debt Maturity 2025 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2025 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en">Maturity: 2025</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en-US">Maturity: 2025</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2025 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2025Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2025 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2026Member" xlink:label="bbd_SubordinatedDebtMaturity2026Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2026Member" xlink:to="bbd_SubordinatedDebtMaturity2026Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en">Subordinated Debt Maturity 2026 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2026 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en">Maturity: 2026</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en-US">Maturity: 2026</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2026 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2026Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2026 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2027Member" xlink:label="bbd_SubordinatedDebtMaturity2027Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2027Member" xlink:to="bbd_SubordinatedDebtMaturity2027Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en">Subordinated Debt Maturity 2027 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2027 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en">Maturity: 2027</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en-US">Maturity: 2027</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2027 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2027Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2027 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturity2028Member" xlink:label="bbd_SubordinatedDebtMaturity2028Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturity2028Member" xlink:to="bbd_SubordinatedDebtMaturity2028Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en">Subordinated Debt Maturity 2028 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en-US">Subordinated Debt Maturity 2028 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en">Maturity: 2028</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en-US">Maturity: 2028</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en">Subordinated debt - Maturity: 2028 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturity2028Member_lbl" xml:lang="en-US">Subordinated debt - Maturity: 2028 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturityAxis" xlink:label="bbd_SubordinatedDebtMaturityAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturityAxis" xlink:to="bbd_SubordinatedDebtMaturityAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en">Subordinated Debt Maturity [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en-US">Subordinated Debt Maturity [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en">Subordinated debt - Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en-US">Subordinated debt - Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en">Subordinated debt - Maturity [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityAxis_lbl" xml:lang="en-US">Subordinated debt - Maturity [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturityDomain" xlink:label="bbd_SubordinatedDebtMaturityDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturityDomain" xlink:to="bbd_SubordinatedDebtMaturityDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en">Subordinated Debt Maturity [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en-US">Subordinated Debt Maturity [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en">Subordinated debt - Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en-US">Subordinated debt - Maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en">Subordinated debt - Maturity [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityDomain_lbl" xml:lang="en-US">Subordinated debt - Maturity [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtMaturityPerpetualMember" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtMaturityPerpetualMember" xlink:to="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en">Subordinated Debt Maturity Perpetual [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en-US">Subordinated Debt Maturity Perpetual [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en">Maturity: Perpetual</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en-US">Maturity: Perpetual</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en">Subordinated debt - Maturity: Perpetual [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtMaturityPerpetualMember_lbl" xml:lang="en-US">Subordinated debt - Maturity: Perpetual [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtPaymentsAndOther" xlink:label="bbd_SubordinatedDebtPaymentsAndOther" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtPaymentsAndOther" xlink:to="bbd_SubordinatedDebtPaymentsAndOther_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en">Subordinated Debt Payments And Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en-US">Subordinated Debt Payments And Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en">Payments and other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en-US">Payments and other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en">Subordinated debt - Payments and other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtPaymentsAndOther_lbl" xml:lang="en-US">Subordinated debt - Payments and other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtRegionAbroadMember" xlink:label="bbd_SubordinatedDebtRegionAbroadMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtRegionAbroadMember" xlink:to="bbd_SubordinatedDebtRegionAbroadMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en">Subordinated Debt Region Abroad [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en-US">Subordinated Debt Region Abroad [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en">Overseas:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en-US">Overseas:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en">Subordinated debt - Region: Abroad [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionAbroadMember_lbl" xml:lang="en-US">Subordinated debt - Region: Abroad [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtRegionAxis" xlink:label="bbd_SubordinatedDebtRegionAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtRegionAxis" xlink:to="bbd_SubordinatedDebtRegionAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en">Subordinated Debt Region [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en-US">Subordinated Debt Region [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en">Subordinated debt - Region</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en-US">Subordinated debt - Region</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en">Subordinated debt - Region [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionAxis_lbl" xml:lang="en-US">Subordinated debt - Region [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtRegionDomain" xlink:label="bbd_SubordinatedDebtRegionDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtRegionDomain" xlink:to="bbd_SubordinatedDebtRegionDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en">Subordinated Debt Region [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en-US">Subordinated Debt Region [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en">Subordinated debt - Region</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en-US">Subordinated debt - Region</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en">Subordinated debt - Region [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionDomain_lbl" xml:lang="en-US">Subordinated debt - Region [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtRegionInBrazilMember" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtRegionInBrazilMember" xlink:to="bbd_SubordinatedDebtRegionInBrazilMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en">Subordinated Debt Region In Brazil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en-US">Subordinated Debt Region In Brazil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en">In Brazil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en-US">In Brazil</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en">Subordinated debt - Region: In Brazil [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtRegionInBrazilMember_lbl" xml:lang="en-US">Subordinated debt - Region: In Brazil [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtTablesAbstract" xlink:label="bbd_SubordinatedDebtTablesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtTablesAbstract" xlink:to="bbd_SubordinatedDebtTablesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtTablesAbstract_lbl" xml:lang="en">Subordinated debt (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtTablesAbstract_lbl" xml:lang="en-US">Subordinated debt (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtTablesAbstract_lbl" xml:lang="en">Subordinated debt (Tables) [Abstract].</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtTablesAbstract_lbl" xml:lang="en-US">Subordinated debt (Tables) [Abstract].</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtsPriorToResolutionNo419213" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtsPriorToResolutionNo419213" xlink:to="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en">Subordinated Debts Prior To Resolution No 419213</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en-US">Subordinated Debts Prior To Resolution No 419213</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en">Subordinated debts (prior to Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en-US">Subordinated debts (prior to Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en">Subordinated debts (prior to Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtsPriorToResolutionNo419213_lbl" xml:lang="en-US">Subordinated debts (prior to Resolution No. 4.192/13)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubordinatedDebtsResolutionNo419213" xlink:label="bbd_SubordinatedDebtsResolutionNo419213" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubordinatedDebtsResolutionNo419213" xlink:to="bbd_SubordinatedDebtsResolutionNo419213_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en">Subordinated Debts Resolution No 419213</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en-US">Subordinated Debts Resolution No 419213</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en">Subordinated debts (Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en-US">Subordinated debts (Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en">Subordinated debts (Resolution No. 4.192/13)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_SubordinatedDebtsResolutionNo419213_lbl" xml:lang="en-US">Subordinated debts (Resolution No. 4.192/13)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_SubsequentCosts" xlink:label="bbd_SubsequentCosts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_SubsequentCosts" xlink:to="bbd_SubsequentCosts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubsequentCosts_lbl" xml:lang="en">Subsequent Costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_SubsequentCosts_lbl" xml:lang="en-US">Subsequent Costs</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_SubsequentCosts_lbl" xml:lang="en">Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TaxEffect_lbl" xml:lang="en-US">Tax effect.</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TaxRateINSSContributionToSAT_lbl" xml:lang="en-US">Tax rate - INSS - Contribution to SAT</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en">Technical Provisions By Account Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en-US">Technical Provisions By Account Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en">Technical provisions by account</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en-US">Technical provisions by account</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en">Technical provisions by account</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAccountTextBlock_lbl" xml:lang="en-US">Technical provisions by account</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsAbstract_lbl" xml:lang="en-US">Technical Provisions By Aggregated Products [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsAbstract_lbl" xml:lang="en">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsAbstract_lbl" xml:lang="en-US">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsAbstract_lbl" xml:lang="en">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsAbstract_lbl" xml:lang="en-US">Technical provisions by aggregated products</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en">Technical Provisions By Aggregated Products Insurance Vehicle Elementary Lines Life And Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en-US">Technical Provisions By Aggregated Products Insurance Vehicle Elementary Lines Life And Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en">Insurance - Vehicle, Elementary Lines, Life and Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en-US">Insurance - Vehicle, Elementary Lines, Life and Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en">Technical provisions by aggregated products - Insurance - Vehicle, Elementary Lines, Life and Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth_lbl" xml:lang="en-US">Technical provisions by aggregated products - Insurance - Vehicle, Elementary Lines, Life and Health</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en">Technical Provisions By Aggregated Products Pensions PGBL And Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en-US">Technical Provisions By Aggregated Products Pensions PGBL And Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en">Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en-US">Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en">Technical provisions by aggregated products - Pensions - PGBL and Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans_lbl" xml:lang="en-US">Technical provisions by aggregated products - Pensions - PGBL and Traditional Plans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en">Technical Provisions By Aggregated Products Pensions Risk Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en-US">Technical Provisions By Aggregated Products Pensions Risk Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en">Pensions - Risk Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en-US">Pensions - Risk Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en">Technical provisions by aggregated products - Pensions - Risk Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans_lbl" xml:lang="en-US">Technical provisions by aggregated products - Pensions - Risk Traditional Plans</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en">Technical Provisions By Aggregated Products Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en-US">Technical Provisions By Aggregated Products Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en-US">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en">Technical provisions by aggregated products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByAggregatedProductsTextBlock_lbl" xml:lang="en-US">Technical provisions by aggregated products</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en">Technical Provisions By Product [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en-US">Technical Provisions By Product [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en-US">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductAbstract_lbl" xml:lang="en-US">Technical provisions by product</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductAutoLiabilityInsurance" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance_lbl" xml:lang="en-US">Technical Provisions By Product Auto Liability Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance_lbl" xml:lang="en">Auto / Liability Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance_lbl" xml:lang="en-US">Auto / Liability Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance_lbl" xml:lang="en">Technical provisions by product - Auto / Liability Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductAutoLiabilityInsurance_lbl" xml:lang="en-US">Technical provisions by product - Auto / Liability Insurance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles_lbl" xml:lang="en-US">Technical Provisions By Product DPVAT Personal Injury Caused By Automotive Vehicles</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles_lbl" xml:lang="en">DPVAT (Personal Injury Caused by Automotive Vehicles)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles_lbl" xml:lang="en-US">DPVAT (Personal Injury Caused by Automotive Vehicles)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles_lbl" xml:lang="en-US">Technical provisions by product - DPVAT (Personal Injury Caused by Automotive Vehicles)</link:label>
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty" xlink:to="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en">Technical Provisions By Product Elementary Lines Property Casualty</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en-US">Technical Provisions By Product Elementary Lines Property Casualty</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en-US">RE (Elementary branch)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en">Technical provisions by product - Elementary lines (property/casualty)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty_lbl" xml:lang="en-US">Technical provisions by product - Elementary lines (property/casualty)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL" xlink:to="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en">Technical Provisions By Product Free Benefits Generating Life VGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en-US">Technical Provisions By Product Free Benefits Generating Life VGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en">Insurance - Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en-US">Insurance - Life with Survival Coverage (VGBL)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en">Technical provisions by product - Free Benefits Generating Life - VGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL_lbl" xml:lang="en-US">Technical provisions by product - Free Benefits Generating Life - VGBL</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL" xlink:to="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en">Technical Provisions By Product Free Benefits Generating Plan PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en-US">Technical Provisions By Product Free Benefits Generating Plan PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en">Free Benefits Generating Plan - PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en-US">Free Benefits Generating Plan - PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en">Technical provisions by product - Free Benefits Generating Plan - PGBL</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL_lbl" xml:lang="en-US">Technical provisions by product - Free Benefits Generating Plan - PGBL</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductHealth" xlink:label="bbd_TechnicalProvisionsByProductHealth" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductHealth" xlink:to="bbd_TechnicalProvisionsByProductHealth_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en">Technical Provisions By Product Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en-US">Technical Provisions By Product Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en">Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en-US">Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en">Technical provisions by product - Health</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductHealth_lbl" xml:lang="en-US">Technical provisions by product - Health</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductLife" xlink:label="bbd_TechnicalProvisionsByProductLife" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductLife" xlink:to="bbd_TechnicalProvisionsByProductLife_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en">Technical Provisions By Product Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en-US">Technical Provisions By Product Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en">Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en-US">Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en">Technical provisions by product - Life</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductLife_lbl" xml:lang="en-US">Technical provisions by product - Life</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductTextBlock" xlink:label="bbd_TechnicalProvisionsByProductTextBlock" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductTextBlock" xlink:to="bbd_TechnicalProvisionsByProductTextBlock_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en">Technical Provisions By Product Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en-US">Technical Provisions By Product Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en-US">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en">Technical provisions by product</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductTextBlock_lbl" xml:lang="en-US">Technical provisions by product</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TechnicalProvisionsByProductTraditionalPlans" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TechnicalProvisionsByProductTraditionalPlans" xlink:to="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en">Technical Provisions By Product Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en-US">Technical Provisions By Product Traditional Plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en">Tradicional plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en-US">Tradicional plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en">Technical provisions by product - Traditional plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TechnicalProvisionsByProductTraditionalPlans_lbl" xml:lang="en-US">Technical provisions by product - Traditional plans</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TenLargestBorrowers" xlink:label="bbd_TenLargestBorrowers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TenLargestBorrowers" xlink:to="bbd_TenLargestBorrowers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en">Ten Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en-US">Ten Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en">10 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en-US">10 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en">Ten largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TenLargestBorrowers_lbl" xml:lang="en-US">Ten largest borrowers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TerminalGrowthRate" xlink:label="bbd_TerminalGrowthRate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TerminalGrowthRate" xlink:to="bbd_TerminalGrowthRate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en">Terminal Growth Rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en-US">Terminal Growth Rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en">Calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en-US">Calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en">Terminal growth rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TerminalGrowthRate_lbl" xml:lang="en-US">Terminal growth rate</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TheAdjustmentToMarketRecordedInShareholdersEquity" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity" xlink:to="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en">The Adjustment To Market Recorded In Shareholders Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en-US">The Adjustment To Market Recorded In Shareholders Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en">The adjustment to market, recorded in shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en-US">The adjustment to market, recorded in shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en">The adjustment to market, recorded in shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquity_lbl" xml:lang="en-US">The adjustment to market, recorded in shareholders&#39; equity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">The Adjustment To Market Recorded In Shareholders Equity Net Of Tax Effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">The Adjustment To Market Recorded In Shareholders Equity Net Of Tax Effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">The adjustment to market, recorded in shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">The adjustment to market, recorded in shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en">The adjustment to market, recorded in shareholders&#39; equity, net of tax effects</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects_lbl" xml:lang="en-US">The adjustment to market, recorded in shareholders&#39; equity, net of tax effects</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity" xlink:to="bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity_lbl" xml:lang="en">The Adjustment To The Market Registered In The Shareholders Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity_lbl" xml:lang="en-US">The Adjustment To The Market Registered In The Shareholders Equity</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TogetherDirectlyMembersOfTheBoardOfDirectorsAndBoardOfTheExecutiveOfficersHadTheFollowingShareholdingTextBlock_lbl" xml:lang="en-US">Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalHighQualityLiquidAssetsHqla_lbl" xml:lang="en-US">Total High Quality Liquid Assets Hqla</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalHighQualityLiquidAssetsHqla_lbl" xml:lang="en">Total High Quality Liquid Assets (HQLA)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalHighQualityLiquidAssetsHqla_lbl" xml:lang="en-US">Total High Quality Liquid Assets (HQLA)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalHighQualityLiquidAssetsHqla_lbl" xml:lang="en">Total High Quality Liquid Assets (HQLA)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalHighQualityLiquidAssetsHqla_lbl" xml:lang="en-US">Total High Quality Liquid Assets (HQLA)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalHqla" xlink:label="bbd_TotalHqla" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalHqla" xlink:to="bbd_TotalHqla_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalHqla_lbl" xml:lang="en">Total Hqla</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalHqla_lbl" xml:lang="en-US">Total Hqla</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalHqla_lbl" xml:lang="en">Total HQLA</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalHqla_lbl" xml:lang="en-US">Total HQLA</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalHqla_lbl" xml:lang="en">Total HQLA</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalHqla_lbl" xml:lang="en-US">Total HQLA</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively" xlink:to="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en">Total Income Tax And Social Contribution Charges At Rates Of 25 And 15 Respectively</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en-US">Total Income Tax And Social Contribution Charges At Rates Of 25 And 15 Respectively</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en">Total burden of income tax and social contribution at the current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en-US">Total burden of income tax and social contribution at the current rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en">Total income tax and social contribution charges at rates of 25% and 15%, respectively</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively_lbl" xml:lang="en-US">Total income tax and social contribution charges at rates of 25% and 15%, respectively</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalItemsNotRecordedInTheBalanceSheet" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalItemsNotRecordedInTheBalanceSheet" xlink:to="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en">Total Items Not Recorded In The Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Total Items Not Recorded In The Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en">Recorded in off-balance sheet accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Recorded in off-balance sheet accounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en">Total items not recorded in the balance sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Total items not recorded in the balance sheet</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalItemsNotRecordedInTheBalanceSheetNote" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalItemsNotRecordedInTheBalanceSheetNote" xlink:to="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en">Total Items Not Recorded In The Balance Sheet Note</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en-US">Total Items Not Recorded In The Balance Sheet Note</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en">Total items not recorded in the balance sheet (Note 41)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en-US">Total items not recorded in the balance sheet (Note 41)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en">Total items not recorded in the balance sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsNotRecordedInTheBalanceSheetNote_lbl" xml:lang="en-US">Total items not recorded in the balance sheet</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalItemsRecordedInTheBalanceSheet" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalItemsRecordedInTheBalanceSheet" xlink:to="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en">Total Items Recorded In The Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Total Items Recorded In The Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en">Total items recorded in the balance sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Total items recorded in the balance sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en">Total items recorded in the balance sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalItemsRecordedInTheBalanceSheet_lbl" xml:lang="en-US">Total items recorded in the balance sheet</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalMember" xlink:label="bbd_TotalMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalMember" xlink:to="bbd_TotalMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalMember_lbl" xml:lang="en">Total [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalMember_lbl" xml:lang="en-US">Total [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalMember_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalMember_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalMember_lbl" xml:lang="en">Total [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalMember_lbl" xml:lang="en-US">Total [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNetCashOutflow" xlink:label="bbd_TotalNetCashOutflow" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNetCashOutflow" xlink:to="bbd_TotalNetCashOutflow_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en">Total Net Cash Outflow</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en-US">Total Net Cash Outflow</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en">Total net cash outflow</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en-US">Total net cash outflow</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en">Total net cash outflow</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNetCashOutflow_lbl" xml:lang="en-US">Total net cash outflow</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNetCreditRiskValueOfNegative" xlink:label="bbd_TotalNetCreditRiskValueOfNegative" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNetCreditRiskValueOfNegative" xlink:to="bbd_TotalNetCreditRiskValueOfNegative_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en">Total Net Credit Risk Value Of Negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en-US">Total Net Credit Risk Value Of Negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en">Total net credit risk value of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en-US">Total net credit risk value of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en">Total net credit risk value of negative</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNetCreditRiskValueOfNegative_lbl" xml:lang="en-US">Total net credit risk value of negative</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis" xlink:to="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en">Total Noncancellable Minimum Future Payments Due [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en-US">Total Noncancellable Minimum Future Payments Due [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en">Total non-cancellable minimum future payments due</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en">Total non-cancellable minimum future payments due [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain" xlink:to="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en">Total Noncancellable Minimum Future Payments Due [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en-US">Total Noncancellable Minimum Future Payments Due [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en">Total non-cancellable minimum future payments due</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en">Total non-cancellable minimum future payments due [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDomain_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember" xlink:to="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en">Total Noncancellable Minimum Future Payments Due Due Between 15 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en-US">Total Noncancellable Minimum Future Payments Due Due Between 15 Years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en">Due between 1-5 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en-US">Due between 1-5 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en">Total non-cancellable minimum future payments due: due between 1-5 years [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due: due between 1-5 years [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember" xlink:to="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember_lbl" xml:lang="en-US">Total Noncancellable Minimum Future Payments Due Due Within 1 Year [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember_lbl" xml:lang="en">Due within 1 year</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due: due within 1 year [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalOfDerivativeLiabilities" xlink:to="bbd_TotalOfDerivativeLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en">Total Of Derivative Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en-US">Total Of Derivative Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en">Total of derivative liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en-US">Total of derivative liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en">Total of derivative liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalOfDerivativeLiabilities_lbl" xml:lang="en-US">Total of derivative liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio" xlink:to="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en">Total Renegotiated Loans And Advances As Percentage Of The Total Loan Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en-US">Total Renegotiated Loans And Advances As Percentage Of The Total Loan Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en">Total renegotiated loans and advances as a percentage of the total loan portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en-US">Total renegotiated loans and advances as a percentage of the total loan portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en">Total renegotiated loans and advances as a percentage of the total loan portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio_lbl" xml:lang="en-US">Total renegotiated loans and advances as a percentage of the total loan portfolio</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en">Total Renegotiated Loans And Advances As Percentage Of The Total Loan Portfolio Net Of Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en-US">Total Renegotiated Loans And Advances As Percentage Of The Total Loan Portfolio Net Of Impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en-US">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment_lbl" xml:lang="en-US">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en">Total Renegotiated Loans And Advances To Customers Net Of Impairment At The End Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en-US">Total Renegotiated Loans And Advances To Customers Net Of Impairment At The End Of The Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en">Total renegotiated loans and advances to customers, net of impairment at the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en-US">Total renegotiated loans and advances to customers, net of impairment at the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en">Total renegotiated loans and advances to customers, net of impairment at the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear_lbl" xml:lang="en-US">Total renegotiated loans and advances to customers, net of impairment at the end of the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en">Total Risk Represented By Offbalance Sheet Commitments Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en-US">Total Risk Represented By Offbalance Sheet Commitments Text Block</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en">Total risk represented by off-balance sheet commitments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en-US">Total risk represented by off-balance sheet commitments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en">Total risk represented by off-balance sheet commitments</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock_lbl" xml:lang="en-US">Total risk represented by off-balance sheet commitments</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradedInTheStockExchange" xlink:label="bbd_TradedInTheStockExchange" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradedInTheStockExchange" xlink:to="bbd_TradedInTheStockExchange_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en">Traded In The Stock Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en-US">Traded In The Stock Exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en">Traded in the stock exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en-US">Traded in the stock exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en">Traded in the stock exchange</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradedInTheStockExchange_lbl" xml:lang="en-US">Traded in the stock exchange</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingBankingPortfoliosAxis" xlink:label="bbd_TradingBankingPortfoliosAxis" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en">Trading Banking Portfolios [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en-US">Trading Banking Portfolios [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en">Trading &amp; Banking Portfolios</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en">Trading &amp; Banking Portfolios [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosAxis_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios [Axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingBankingPortfoliosDomain" xlink:label="bbd_TradingBankingPortfoliosDomain" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en">Trading Banking Portfolios [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en-US">Trading Banking Portfolios [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en">Trading &amp; Banking Portfolios</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en">Trading &amp; Banking Portfolios [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosDomain_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios [Domain]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingBankingPortfoliosScenario1Member" xlink:label="bbd_TradingBankingPortfoliosScenario1Member" />
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    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingBankingPortfoliosScenario2Member" xlink:label="bbd_TradingBankingPortfoliosScenario2Member" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en">Trading Banking Portfolios Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en-US">Trading Banking Portfolios Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en">Scenario 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en-US">Scenario 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en">Trading &amp; Banking Portfolios: Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosScenario2Member_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios: Scenario 2 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingBankingPortfoliosScenario3Member" xlink:label="bbd_TradingBankingPortfoliosScenario3Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingBankingPortfoliosScenario3Member" xlink:to="bbd_TradingBankingPortfoliosScenario3Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en">Trading Banking Portfolios Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en-US">Trading Banking Portfolios Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en">Scenario 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en-US">Scenario 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en">Trading &amp; Banking Portfolios: Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingBankingPortfoliosScenario3Member_lbl" xml:lang="en-US">Trading &amp; Banking Portfolios: Scenario 3 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingPortfolioAxis" xlink:label="bbd_TradingPortfolioAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingPortfolioAxis" xlink:to="bbd_TradingPortfolioAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en">Trading Portfolio [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en-US">Trading Portfolio [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en">Trading Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en-US">Trading Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en">Trading Portfolio [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioAxis_lbl" xml:lang="en-US">Trading Portfolio [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingPortfolioDomain" xlink:label="bbd_TradingPortfolioDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingPortfolioDomain" xlink:to="bbd_TradingPortfolioDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en">Trading Portfolio [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en-US">Trading Portfolio [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en">Trading Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en-US">Trading Portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en">Trading Portfolio [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioDomain_lbl" xml:lang="en-US">Trading Portfolio [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingPortfolioScenario1Member" xlink:label="bbd_TradingPortfolioScenario1Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingPortfolioScenario1Member" xlink:to="bbd_TradingPortfolioScenario1Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en">Trading Portfolio Scenario 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en-US">Trading Portfolio Scenario 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en">Scenario 1</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en-US">Scenario 1</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en">Trading Portfolio: Scenario 1 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario1Member_lbl" xml:lang="en-US">Trading Portfolio: Scenario 1 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingPortfolioScenario2Member" xlink:label="bbd_TradingPortfolioScenario2Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingPortfolioScenario2Member" xlink:to="bbd_TradingPortfolioScenario2Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en">Trading Portfolio Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en-US">Trading Portfolio Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en">Scenario 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en-US">Scenario 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en">Trading Portfolio: Scenario 2 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario2Member_lbl" xml:lang="en-US">Trading Portfolio: Scenario 2 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TradingPortfolioScenario3Member" xlink:label="bbd_TradingPortfolioScenario3Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TradingPortfolioScenario3Member" xlink:to="bbd_TradingPortfolioScenario3Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en">Trading Portfolio Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en-US">Trading Portfolio Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en">Scenario 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en-US">Scenario 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en">Trading Portfolio: Scenario 3 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TradingPortfolioScenario3Member_lbl" xml:lang="en-US">Trading Portfolio: Scenario 3 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesDepositsFromCustomers" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers" xlink:to="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en">Transactions With Related Parties Deposits From Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en-US">Transactions With Related Parties Deposits From Customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en-US">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en">Transactions with related parties - Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesDepositsFromCustomers_lbl" xml:lang="en-US">Transactions with related parties - Deposits from customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesDetailsTextAbstract" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract" xlink:to="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en">Transactions With Related Parties Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en-US">Transactions With Related Parties Details Text [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en">Transactions with related parties (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en-US">Transactions with related parties (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en">Transactions with related parties (Details Text)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesDetailsTextAbstract_lbl" xml:lang="en-US">Transactions with related parties (Details Text)</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities" xlink:to="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en">Transactions With Related Parties Funds From Issuance Of Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en-US">Transactions With Related Parties Funds From Issuance Of Securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en">Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en-US">Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en">Transactions with related parties - Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities_lbl" xml:lang="en-US">Transactions with related parties - Funds from issuance of securities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks" xlink:to="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en">Transactions With Related Parties Loans And Advances To Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en-US">Transactions With Related Parties Loans And Advances To Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en">Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en-US">Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en">Transactions with related parties - Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks_lbl" xml:lang="en-US">Transactions with related parties - Loans and advances to banks</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesNetInterestIncome" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesNetInterestIncome" xlink:to="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en">Transactions With Related Parties Net Interest Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en-US">Transactions With Related Parties Net Interest Income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en">Net Interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en-US">Net Interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en">Transactions with related parties - Net Interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesNetInterestIncome_lbl" xml:lang="en-US">Transactions with related parties - Net Interest income</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesOtherAssets" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesOtherAssets" xlink:to="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en">Transactions With Related Parties Other Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en-US">Transactions With Related Parties Other Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en">Transactions with related parties - Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherAssets_lbl" xml:lang="en-US">Transactions with related parties - Other assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesOtherExpenses" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesOtherExpenses" xlink:to="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en">Transactions With Related Parties Other Expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en-US">Transactions With Related Parties Other Expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en">Other expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en-US">Other expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en">Transactions with related parties - Other expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherExpenses_lbl" xml:lang="en-US">Transactions with related parties - Other expenses</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesOtherLiabilities" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesOtherLiabilities" xlink:to="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en">Transactions With Related Parties Other Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en-US">Transactions With Related Parties Other Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en">Transactions with related parties - Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherLiabilities_lbl" xml:lang="en-US">Transactions with related parties - Other liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesOtherRevenues" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesOtherRevenues" xlink:to="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en">Transactions With Related Parties Other Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en-US">Transactions With Related Parties Other Revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en">Other revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en-US">Other revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en">Transactions with related parties - Other revenues</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesOtherRevenues_lbl" xml:lang="en-US">Transactions with related parties - Other revenues</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransactionsWithRelatedPartiesSocialAndStatutory" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransactionsWithRelatedPartiesSocialAndStatutory" xlink:to="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en">Transactions With Related Parties Social And Statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en-US">Transactions With Related Parties Social And Statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en">Social and statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en-US">Social and statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en">Transactions with related parties - Social and statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransactionsWithRelatedPartiesSocialAndStatutory_lbl" xml:lang="en-US">Transactions with related parties - Social and statutory</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransfersToReserves" xlink:label="bbd_TransfersToReserves" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransfersToReserves" xlink:to="bbd_TransfersToReserves_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en">Transfers To Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en-US">Transfers To Reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en">Transfers to reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en-US">Transfers to reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en">Transfers to reserves.</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransfersToReserves_lbl" xml:lang="en-US">Transfers to reserves.</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TransportationSystemsMember" xlink:label="bbd_TransportationSystemsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TransportationSystemsMember" xlink:to="bbd_TransportationSystemsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en">Transportation Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en-US">Transportation Systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en">Transportation systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en-US">Transportation systems</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en">Transportation systems [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TransportationSystemsMember_lbl" xml:lang="en-US">Transportation systems [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TreasuryCommonSharesMember" xlink:label="bbd_TreasuryCommonSharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TreasuryCommonSharesMember" xlink:to="bbd_TreasuryCommonSharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en">Treasury Common Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en-US">Treasury Common Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en">Treasury (common shares)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en-US">Treasury (common shares)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en">Treasury (common shares) [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TreasuryCommonSharesMember_lbl" xml:lang="en-US">Treasury (common shares) [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TreasuryPreferredSharesMember" xlink:label="bbd_TreasuryPreferredSharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TreasuryPreferredSharesMember" xlink:to="bbd_TreasuryPreferredSharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en">Treasury Preferred Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en-US">Treasury Preferred Shares [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en">Treasury (preferred shares)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en-US">Treasury (preferred shares)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en">Treasury (preferred shares) [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TreasuryPreferredSharesMember_lbl" xml:lang="en-US">Treasury (preferred shares) [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_TwentyLargestBorrowers" xlink:label="bbd_TwentyLargestBorrowers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_TwentyLargestBorrowers" xlink:to="bbd_TwentyLargestBorrowers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en">Twenty Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en-US">Twenty Largest Borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en">20 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en-US">20 largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en">Twenty largest borrowers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_TwentyLargestBorrowers_lbl" xml:lang="en-US">Twenty largest borrowers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_UndiscountedCashFlowsForDerivativesAbstract" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_UndiscountedCashFlowsForDerivativesAbstract" xlink:to="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en">Undiscounted Cash Flows For Derivatives [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en-US">Undiscounted Cash Flows For Derivatives [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en">Undiscounted cash flows for derivatives</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en-US">Undiscounted cash flows for derivatives</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en">Undiscounted cash flows for derivatives</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsForDerivativesAbstract_lbl" xml:lang="en-US">Undiscounted cash flows for derivatives</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract" xlink:to="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en">Undiscounted Cash Flows Of Financial Liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Undiscounted Cash Flows Of Financial Liabilities [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en">Undiscounted cash flows of financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Undiscounted cash flows of financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en">Undiscounted cash flows of financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract_lbl" xml:lang="en-US">Undiscounted cash flows of financial liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks" xlink:to="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en">Undiscounted Cash Flows Of Financial Liabilities Deposits From Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en-US">Undiscounted Cash Flows Of Financial Liabilities Deposits From Banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en-US">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en">Undiscounted cash flows of financial liabilities - Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks_lbl" xml:lang="en-US">Undiscounted cash flows of financial liabilities - Deposits from banks</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ValuesThroughTheProvisionOfGuarantees_lbl" xml:lang="en">Values through the provision of guarantees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_ValuesThroughTheProvisionOfGuarantees_lbl" xml:lang="en-US">Values through the provision of guarantees</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WeightedAverageAmountMember_lbl" xml:lang="en">Weighted Average Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WeightedAverageAmountMember_lbl" xml:lang="en-US">Weighted Average Amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WeightedAverageAmountMember_lbl" xml:lang="en">Weighted Average Amount [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WeightedAverageAmountMember_lbl" xml:lang="en-US">Weighted Average Amount [Member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_WeightedAverageNumberOfSharesOutstandingThousands" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_WeightedAverageNumberOfSharesOutstandingThousands" xlink:to="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en">Weighted Average Number Of Shares Outstanding Thousands</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Thousands</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en">Weighted average number of preferred shares outstanding (thousands)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en-US">Weighted average number of preferred shares outstanding (thousands)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en">Weighted average number of shares outstanding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WeightedAverageNumberOfSharesOutstandingThousands_lbl" xml:lang="en-US">Weighted average number of shares outstanding</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_WriteoffOfTaxCredits" xlink:label="bbd_WriteoffOfTaxCredits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_WriteoffOfTaxCredits" xlink:to="bbd_WriteoffOfTaxCredits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en">Writeoff Of Tax Credits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en-US">Writeoff Of Tax Credits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en">Write-off of tax credits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en-US">Write-off of tax credits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en">Write-off of tax credits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_WriteoffOfTaxCredits_lbl" xml:lang="en-US">Write-off of tax credits</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Year2016Member" xlink:to="bbd_Year2016Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2016Member_lbl" xml:lang="en">Year 2016 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2016Member_lbl" xml:lang="en-US">Year 2016 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2016Member_lbl" xml:lang="en">2016</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2016Member_lbl" xml:lang="en-US">2016</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2016Member_lbl" xml:lang="en">Year - 2016 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2016Member_lbl" xml:lang="en-US">Year - 2016 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Year2017Member" xlink:label="bbd_Year2017Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Year2017Member" xlink:to="bbd_Year2017Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2017Member_lbl" xml:lang="en">Year 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2017Member_lbl" xml:lang="en-US">Year 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2017Member_lbl" xml:lang="en">2017</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2017Member_lbl" xml:lang="en-US">2017</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2017Member_lbl" xml:lang="en">Year - 2017 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2017Member_lbl" xml:lang="en-US">Year - 2017 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_Year2018Member" xlink:label="bbd_Year2018Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_Year2018Member" xlink:to="bbd_Year2018Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2018Member_lbl" xml:lang="en">Year 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_Year2018Member_lbl" xml:lang="en-US">Year 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2018Member_lbl" xml:lang="en">2018</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_Year2018Member_lbl" xml:lang="en-US">2018</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2018Member_lbl" xml:lang="en">Year - 2018 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_Year2018Member_lbl" xml:lang="en-US">Year - 2018 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_YearAsOf2019Member" xlink:label="bbd_YearAsOf2019Member" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_YearAsOf2019Member" xlink:to="bbd_YearAsOf2019Member_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en">Year As Of 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en-US">Year As Of 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en">As of 2019</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en-US">As of 2019</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en">Year - As of 2019 [Member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearAsOf2019Member_lbl" xml:lang="en-US">Year - As of 2019 [Member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_YearAxis" xlink:label="bbd_YearAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_YearAxis" xlink:to="bbd_YearAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearAxis_lbl" xml:lang="en">Year [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearAxis_lbl" xml:lang="en-US">Year [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearAxis_lbl" xml:lang="en">Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearAxis_lbl" xml:lang="en-US">Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearAxis_lbl" xml:lang="en">Year [Axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearAxis_lbl" xml:lang="en-US">Year [Axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="bbd-20171231.xsd#bbd_YearDomain" xlink:label="bbd_YearDomain" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bbd_YearDomain" xlink:to="bbd_YearDomain_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearDomain_lbl" xml:lang="en">Year [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bbd_YearDomain_lbl" xml:lang="en-US">Year [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearDomain_lbl" xml:lang="en">Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bbd_YearDomain_lbl" xml:lang="en-US">Year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearDomain_lbl" xml:lang="en">Year [Domain]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bbd_YearDomain_lbl" xml:lang="en-US">Year [Domain]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en">Amendment Flag</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en">Current Fiscal Year End Date</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en">Document Fiscal Period Focus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en">Document Fiscal Year Focus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en">Document Period End Date</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en">Document Type</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en">Entity Central Index Key</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en">Entity Common Stock, Shares Outstanding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en">Entity Current Reporting Status</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en">Entity Filer Category</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en">Entity Registrant Name</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en">Entity Well-known Seasoned Issuer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xml:lang="en">Accumulated depreciation, amortisation and impairment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xml:lang="en">Accumulated depreciation, amortisation and impairment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en">Accumulated depreciation and amortisation [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US">Accumulated depreciation and amortisation [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en">Accumulated depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xml:lang="en-US">Accumulated depreciation</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedImpairmentMember" xlink:label="ifrs-full_AccumulatedImpairmentMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedImpairmentMember" xlink:to="ifrs-full_AccumulatedImpairmentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en">Accumulated impairment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en-US">Accumulated impairment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en">Cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedImpairmentMember_lbl" xml:lang="en-US">Cost</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en">Accumulated other comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en-US">Accumulated other comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en">Other comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xml:lang="en-US">Other comprehensive income</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts" xlink:label="ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts_lbl" xml:lang="en">Acquisition and administration expense related to insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts_lbl" xml:lang="en-US">Acquisition and administration expense related to insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts_lbl" xml:lang="en">Operating expense related of insurance operation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts_lbl" xml:lang="en-US">Operating expense related of insurance operation</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en">Consideration transferred, acquisition-date fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US">Consideration transferred, acquisition-date fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en">Fair value of the consideration transferred</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xml:lang="en-US">Fair value of the consideration transferred</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferredAbstract_lbl" xml:lang="en-US">Acquisition-date fair value of total consideration transferred [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferredAbstract_lbl" xml:lang="en">Fair value of the consideration transferred</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferredAbstract_lbl" xml:lang="en-US">Fair value of the consideration transferred</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en">Acquisitions through business combinations, intangible assets and goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Acquisitions through business combinations, intangible assets and goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en">Balance originating from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Balance originating from an acquired institution</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions_lbl" xml:lang="en-US">Acquisitions through business combinations, other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions_lbl" xml:lang="en">Additions, net of reversals</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en">Acquisitions through business combinations, property, plant and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Acquisitions through business combinations, property, plant and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en">Balance originating from an acquired institution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xml:lang="en-US">Balance originating from an acquired institution</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en">Actuarial assumption of discount rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en-US">Actuarial assumption of discount rates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en">Discount rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xml:lang="en-US">Discount rate</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation_lbl" xml:lang="en">Actuarial assumption of expected rates of inflation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation_lbl" xml:lang="en-US">Actuarial assumption of expected rates of inflation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation_lbl" xml:lang="en">Inflation rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation_lbl" xml:lang="en-US">Inflation rate</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl" xml:lang="en">Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl" xml:lang="en">Impairment of loans and advances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss_lbl" xml:lang="en-US">Impairment of loans and advances</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks_lbl" xml:lang="en">Adjustments for increase (decrease) in deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks_lbl" xml:lang="en-US">Adjustments for increase (decrease) in deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks_lbl" xml:lang="en">Increase/(decrease) in deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks_lbl" xml:lang="en-US">Increase/(decrease) in deposits from banks</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers_lbl" xml:lang="en">Adjustments for increase (decrease) in deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers_lbl" xml:lang="en-US">Adjustments for increase (decrease) in deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers_lbl" xml:lang="en">Increase/(decrease) in deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers_lbl" xml:lang="en-US">Increase/(decrease) in deposits from customers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xml:lang="en">Adjustments for increase (decrease) in other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xml:lang="en-US">Adjustments for increase (decrease) in other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xml:lang="en">Increase/(decrease) in other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xml:lang="en-US">Increase/(decrease) in other liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xml:lang="en">Adjustments for losses (gains) on disposal of non-current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xml:lang="en-US">Adjustments for losses (gains) on disposal of non-current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xml:lang="en">Losses on disposal of non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xml:lang="en-US">Losses on disposal of non-current assets held for sale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForProvisions_lbl" xml:lang="en">Adjustments for provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForProvisions_lbl" xml:lang="en-US">Adjustments for provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForProvisions_lbl" xml:lang="en">Increase/(decrease) in other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForProvisions_lbl" xml:lang="en-US">Increase/(decrease) in other provisions</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en">Adjustments to reconcile profit (loss) [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US">Adjustments to reconcile profit (loss) [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en">Adjustments to reconcile income before income tax to net cash flow from operating activities:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xml:lang="en-US">Adjustments to reconcile income before income tax to net cash flow from operating activities:</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdministrativeExpense" xlink:label="ifrs-full_AdministrativeExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdministrativeExpense" xlink:to="ifrs-full_AdministrativeExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en">Administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en-US">Administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en-US">Other administrative expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_AdministrativeExpense_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="ifrs-full_AggregatedMeasurementMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedMeasurementMember" xlink:to="ifrs-full_AggregatedMeasurementMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en">Aggregated measurement [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en-US">Aggregated measurement [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en">Aggregated measurement [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xml:lang="en-US">Aggregated measurement [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en">Aggregated time bands [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US">Aggregated time bands [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en">Aggregated time bands [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xml:lang="en-US">Aggregated time bands [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en">All levels of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en">All levels of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en">Amortisation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US">Amortisation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en">Amortization expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_AmortisationExpense_lbl" xml:lang="en-US">Amortization expenses</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en">Amortisation, intangible assets other than goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Amortisation, intangible assets other than goodwill</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsArisingFromInsuranceContractsAxis" xlink:to="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en">Amounts arising from insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en-US">Amounts arising from insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en">Amounts arising from insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsArisingFromInsuranceContractsAxis_lbl" xml:lang="en-US">Amounts arising from insurance contracts [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts" xlink:label="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts" xlink:to="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">Amounts incurred, deferred acquisition costs arising from insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">Amounts incurred, deferred acquisition costs arising from insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">Additions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">Additions</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en">Applicable tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US">Applicable tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en">Applicable tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US">Applicable tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en">Applicable tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xml:lang="en-US">Applicable tax rate</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_lbl" xml:lang="en">Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en">Total assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en">Total assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Assets_lbl" xml:lang="en-US">Total assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en">Assets [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">Assets [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en">Assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAbstract_lbl" xml:lang="en-US">Assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsAndLiabilitiesAxis" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAndLiabilitiesAxis" xlink:to="ifrs-full_AssetsAndLiabilitiesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en">Assets and liabilities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en-US">Assets and liabilities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en">Assets and liabilities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesAxis_lbl" xml:lang="en-US">Assets and liabilities [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsAndLiabilitiesMember" xlink:label="ifrs-full_AssetsAndLiabilitiesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAndLiabilitiesMember" xlink:to="ifrs-full_AssetsAndLiabilitiesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en">Assets and liabilities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en-US">Assets and liabilities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en">Assets and liabilities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssetsAndLiabilitiesMember_lbl" xml:lang="en-US">Assets and liabilities [member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsLiabilitiesOfBenefitPlan" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsLiabilitiesOfBenefitPlan" xlink:to="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en">Assets (liabilities) of benefit plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en-US">Assets (liabilities) of benefit plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_AssetsLiabilitiesOfBenefitPlan_lbl" xml:lang="en-US">At the end of the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssociatesMember" xlink:label="ifrs-full_AssociatesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssociatesMember" xlink:to="ifrs-full_AssociatesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssociatesMember_lbl" xml:lang="en">Associates [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AssociatesMember_lbl" xml:lang="en-US">Associates [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssociatesMember_lbl" xml:lang="en">Associates [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AssociatesMember_lbl" xml:lang="en-US">Associates [member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AtCostMember" xlink:label="ifrs-full_AtCostMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtCostMember" xlink:to="ifrs-full_AtCostMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtCostMember_lbl" xml:lang="en">At cost [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtCostMember_lbl" xml:lang="en-US">At cost [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtCostMember_lbl" xml:lang="en">Amortized cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtCostMember_lbl" xml:lang="en-US">Amortized cost</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AtFairValueMember" xlink:label="ifrs-full_AtFairValueMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtFairValueMember" xlink:to="ifrs-full_AtFairValueMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en">At fair value [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en-US">At fair value [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en">Fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AtFairValueMember_lbl" xml:lang="en-US">Fair value</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AvailableforsaleFinancialAssetsAbstract" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AvailableforsaleFinancialAssetsAbstract" xlink:to="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en">Financial assets available for sale (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en-US">Financial assets available for sale (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AvailableforsaleFinancialAssetsAbstract_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:label="ifrs-full_AverageEffectiveTaxRate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageEffectiveTaxRate" xlink:to="ifrs-full_AverageEffectiveTaxRate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en">Average effective tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en-US">Average effective tax rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en">Effective rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xml:lang="en-US">Effective rate</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="ifrs-full_AverageForeignExchangeRate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageForeignExchangeRate" xlink:to="ifrs-full_AverageForeignExchangeRate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xml:lang="en">Average foreign exchange rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xml:lang="en-US">Average foreign exchange rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xml:lang="en">Average foreign exchange rate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xml:lang="en-US">Average foreign exchange rate</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BalancesOnDemandDepositsFromCustomers" xlink:label="ifrs-full_BalancesOnDemandDepositsFromCustomers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BalancesOnDemandDepositsFromCustomers" xlink:to="ifrs-full_BalancesOnDemandDepositsFromCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BalancesOnDemandDepositsFromCustomers_lbl" xml:lang="en">Balances on demand deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BalancesOnDemandDepositsFromCustomers_lbl" xml:lang="en-US">Balances on demand deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BalancesOnDemandDepositsFromCustomers_lbl" xml:lang="en">Demand deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BalancesOnDemandDepositsFromCustomers_lbl" xml:lang="en-US">Demand deposits</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare_lbl" xml:lang="en-US">Basic and diluted earnings (loss) per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_BasicAndDilutedEarningsLossPerShare_lbl" xml:lang="en">Basic earnings per share attributable to shareholders of the Organization (in Reais)</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en">Basic earnings (loss) per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">Basic earnings (loss) per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en">- Earnings per</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xml:lang="en-US">- Earnings per</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xml:lang="en">Basic earnings per share [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xml:lang="en-US">Basic earnings per share [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xml:lang="en">Basic earnings per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xml:lang="en-US">Basic earnings per share</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BenefitsPaidOrPayable_lbl" xml:lang="en-US">Benefits paid or payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BenefitsPaidOrPayable_lbl" xml:lang="en">Benefits paid</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BondsIssued_lbl" xml:lang="en">Euronotes</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en">Borrowings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Borrowings_lbl" xml:lang="en-US">Borrowings</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en-US">Buildings [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en">Buildings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_BuildingsMember_lbl" xml:lang="en-US">Buildings</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CapitalReserve_lbl" xml:lang="en-US">Capital reserve</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CapitalReserve_lbl" xml:lang="en">Capital reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CapitalReserve_lbl" xml:lang="en-US">Capital reserves</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl" xml:lang="en">Cash</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US">Cash</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en">Cash and due from banks in domestic currency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Cash_lbl" xml:lang="en-US">Cash and due from banks in domestic currency</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAbstract" xlink:label="ifrs-full_CashAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAbstract" xlink:to="ifrs-full_CashAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAbstract_lbl" xml:lang="en">Cash [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAbstract_lbl" xml:lang="en-US">Cash [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAbstract_lbl" xml:lang="en">Cash and balances with banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAbstract_lbl" xml:lang="en-US">Cash and balances with banks</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities_lbl" xml:lang="en">Cash advances and loans made to other parties, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Cash advances and loans made to other parties, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities_lbl" xml:lang="en">(Increase)/decrease in loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">(Increase)/decrease in loans and advances to banks</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndBankBalancesAtCentralBanks" xlink:to="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en">Cash and bank balances at central banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en-US">Cash and bank balances at central banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en">Cash and balances with banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en-US">Cash and balances with banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashAndBankBalancesAtCentralBanks_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en">Cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xml:lang="en-US">At the end of the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xml:lang="en">Cash and cash equivalents [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Cash and cash equivalents [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xml:lang="en">Cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en">Cash flows from (used in) financing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Cash flows from (used in) financing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en">Net cash provided by/(used in) financing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash provided by/(used in) financing activities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en">Cash flows from (used in) financing activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from (used in) financing activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en">Financing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Financing activities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en">Cash flows from (used in) investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Cash flows from (used in) investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en">Net cash provided by/(used in) investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash provided by/(used in) investing activities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en">Cash flows from (used in) investing activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from (used in) investing activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en">Investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Investing activities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en">Cash flows from (used in) operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Cash flows from (used in) operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en">Net cash provided by/(used in) operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by/(used in) operating activities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en">Cash flows from (used in) operating activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from (used in) operating activities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en">Operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Operating activities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:label="ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:to="ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">Cash paid, liabilities under insurance contracts and reinsurance contracts issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US">Cash paid, liabilities under insurance contracts and reinsurance contracts issued</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis_lbl" xml:lang="en">Categories of financial assets [axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis_lbl" xml:lang="en">Categories of financial assets [axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en">Categories of related parties [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en-US">Categories of related parties [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xml:lang="en">Categories of related parties [axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract_lbl" xml:lang="en-US">Intangible assets and goodwill [Abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en">Changes in liabilities under insurance contracts and reinsurance contracts issued [abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en">Changes in the insurance and pension technical provisions</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInOtherProvisions_lbl" xml:lang="en-US">Increase (decrease) in other provisions</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract_lbl" xml:lang="en-US">Property and equipment [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClaimsIncurredButNotReported_lbl" xml:lang="en">Claims incurred but not reported</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClaimsIncurredButNotReported_lbl" xml:lang="en-US">Claims incurred but not reported</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClaimsIncurredButNotReported_lbl" xml:lang="en-US">Liquid outstanding claims for reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ClaimsIncurredButNotReported_lbl" xml:lang="en">Liquid outstanding claims for reinsurance</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClaimsReportedByPolicyholders_lbl" xml:lang="en">Estimate of claims on the reporting date (2017)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en">Classes of property, plant and equipment [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en">Classes of other provisions [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en-US">Classes of other provisions [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en">Classes of other provisions [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xml:lang="en-US">Classes of other provisions [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en">Classes of share capital [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en-US">Classes of share capital [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en">Classes of share capital [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xml:lang="en-US">Classes of share capital [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en">Comprehensive income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xml:lang="en-US">Comprehensive income</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en">Computer software [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US">Computer software [member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ComputerSoftwareMember_lbl" xml:lang="en-US">Software</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsumerLoans" xlink:to="ifrs-full_ConsumerLoans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsumerLoans_lbl" xml:lang="en">Loans to consumers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ConsumerLoans_lbl" xml:lang="en-US">Loans to consumers</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContractAssets" xlink:label="ifrs-full_ContractAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContractAssets" xlink:to="ifrs-full_ContractAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en">Contract assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en-US">Contract assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en">OTC contract</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContractAssets_lbl" xml:lang="en-US">OTC contract</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Contributions to plan by plan participants, net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Contributions to plan by plan participants, net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Participant&#39;s contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Participant&#39;s contribution</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CorporateDebtInstrumentsHeld" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CorporateDebtInstrumentsHeld" xlink:to="ifrs-full_CorporateDebtInstrumentsHeld_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xml:lang="en">Corporate debt instruments held</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xml:lang="en-US">Corporate debt instruments held</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xml:lang="en">Corporate debt and marketable equity securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xml:lang="en-US">Corporate debt and marketable equity securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CorporateLoans" xlink:label="ifrs-full_CorporateLoans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CorporateLoans" xlink:to="ifrs-full_CorporateLoans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateLoans_lbl" xml:lang="en">Loans to corporate entities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateLoans_lbl" xml:lang="en-US">Loans to corporate entities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CorporateLoans_lbl" xml:lang="en">Loans to financial institutions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CorporateLoans_lbl" xml:lang="en-US">Loans to financial institutions</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CorporateLoansMember" xlink:label="ifrs-full_CorporateLoansMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CorporateLoansMember" xlink:to="ifrs-full_CorporateLoansMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateLoansMember_lbl" xml:lang="en">Loans to corporate entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CorporateLoansMember_lbl" xml:lang="en-US">Loans to corporate entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CorporateLoansMember_lbl" xml:lang="en">Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CorporateLoansMember_lbl" xml:lang="en-US">Loans and advances to banks</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:to="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xml:lang="en">Country of incorporation of subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xml:lang="en-US">Country of incorporation of subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xml:lang="en">Country</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xml:lang="en-US">Country</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis_lbl" xml:lang="en">Credit impairment of financial instruments [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis_lbl" xml:lang="en-US">Credit impairment of financial instruments [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis_lbl" xml:lang="en">Credit impairment of financial instruments [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis_lbl" xml:lang="en-US">Credit impairment of financial instruments [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CreditImpairmentOfFinancialInstrumentsMember" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsMember_lbl" xml:lang="en">Credit impairment of financial instruments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsMember_lbl" xml:lang="en-US">Credit impairment of financial instruments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsMember_lbl" xml:lang="en">Credit impairment of financial instruments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditImpairmentOfFinancialInstrumentsMember_lbl" xml:lang="en-US">Credit impairment of financial instruments [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CreditrelatedFeeAndCommissionIncome" xlink:label="ifrs-full_CreditrelatedFeeAndCommissionIncome" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditrelatedFeeAndCommissionIncome_lbl" xml:lang="en">Credit-related fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CreditrelatedFeeAndCommissionIncome_lbl" xml:lang="en-US">Credit-related fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditrelatedFeeAndCommissionIncome_lbl" xml:lang="en">Credit cards</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CreditrelatedFeeAndCommissionIncome_lbl" xml:lang="en-US">Credit cards</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentMember" xlink:label="ifrs-full_CurrentMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMember" xlink:to="ifrs-full_CurrentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentMember_lbl" xml:lang="en">Current [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentMember_lbl" xml:lang="en-US">Current [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentMember_lbl" xml:lang="en">Current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentMember_lbl" xml:lang="en-US">Current</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentPrepaidExpenses" xlink:label="ifrs-full_CurrentPrepaidExpenses" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en">Current prepaid expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Current prepaid expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en">Prepaid expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xml:lang="en-US">Prepaid expenses</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Current service cost, net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Current service cost, net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Cost of service</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Cost of service</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xml:lang="en">Current tax assets, non-current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xml:lang="en-US">Current tax assets, non-current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xml:lang="en">Taxes to be offset</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xml:lang="en-US">Taxes to be offset</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en">Current tax liabilities, current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Current tax liabilities, current</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en">Current income tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xml:lang="en-US">Current income tax liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsMember" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en">Customer-related intangible assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en-US">Customer-related intangible assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en">Customer portfolio</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsMember_lbl" xml:lang="en-US">Customer portfolio</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DebtSecurities" xlink:label="ifrs-full_DebtSecurities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtSecurities" xlink:to="ifrs-full_DebtSecurities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en">Debt instruments issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US">Debt instruments issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en">Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US">Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DebtSecurities_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts" xlink:to="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">Deferred acquisition costs arising from insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">Deferred acquisition costs arising from insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">Deferred acquisition cost (insurance) - Note 35f</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">Deferred acquisition cost (insurance) - Note 35f</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts_lbl" xml:lang="en-US">At the end of the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en">Deferred tax assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en">Deferred income tax assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xml:lang="en-US">Deferred income tax assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncome" xlink:to="ifrs-full_DeferredTaxExpenseIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xml:lang="en">Deferred tax expense (income)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xml:lang="en-US">Deferred tax expense (income)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xml:lang="en">Total deferred tax expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xml:lang="en-US">Total deferred tax expense</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:to="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en">Deferred tax expense (income) [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en-US">Deferred tax expense (income) [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en">Deferred income tax and social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xml:lang="en-US">Deferred income tax and social contribution</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en">Deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en">Deferred income tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xml:lang="en-US">Deferred income tax liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en">Deferred tax liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Deferred tax liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en">Deferred tax assets and deferred tax liabilities are offset in the consolidated statement of financial position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xml:lang="en-US">Deferred tax assets and deferred tax liabilities are offset in the consolidated statement of financial position</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepositsFromBanks" xlink:label="ifrs-full_DepositsFromBanks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromBanks" xlink:to="ifrs-full_DepositsFromBanks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DepositsFromBanks_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepositsFromCustomers" xlink:label="ifrs-full_DepositsFromCustomers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromCustomers" xlink:to="ifrs-full_DepositsFromCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_DepositsFromCustomers_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepositsFromCustomersAbstract" xlink:label="ifrs-full_DepositsFromCustomersAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepositsFromCustomersAbstract" xlink:to="ifrs-full_DepositsFromCustomersAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromCustomersAbstract_lbl" xml:lang="en">Deposits from customers (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepositsFromCustomersAbstract_lbl" xml:lang="en-US">Deposits from customers (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromCustomersAbstract_lbl" xml:lang="en">Deposits from customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DepositsFromCustomersAbstract_lbl" xml:lang="en-US">Deposits from customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en">Depreciation and amortisation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortisation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en">Depreciation and amortization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_lbl" xml:lang="en-US">Description of accounting policy for non-current assets or disposal groups classified as held for sale [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_lbl" xml:lang="en">Non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_lbl" xml:lang="en-US">Non-current assets held for sale</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en">Property and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xml:lang="en-US">Property and equipment</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xml:lang="en-US">Description of accounting policy for provisions [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xml:lang="en">Provisions, contingent liabilities and contingent assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xml:lang="en-US">Provisions, contingent liabilities and contingent assets</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en">Description of accounting policy for reinsurance [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en-US">Description of accounting policy for reinsurance [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en">Reinsurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory_lbl" xml:lang="en-US">Reinsurance contracts</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory_lbl" xml:lang="en">Description of accounting policy for repurchase and reverse repurchase agreements [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory_lbl" xml:lang="en-US">Description of accounting policy for repurchase and reverse repurchase agreements [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory_lbl" xml:lang="en">Sale and repurchase agreements</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory_lbl" xml:lang="en-US">Sale and repurchase agreements</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en">Description of accounting policy for restricted cash and cash equivalents [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Description of accounting policy for restricted cash and cash equivalents [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en">Cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_lbl" xml:lang="en">Description of accounting policy for segment reporting [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_lbl" xml:lang="en-US">Description of accounting policy for segment reporting [text block]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_lbl" xml:lang="en">Segment reporting</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_lbl" xml:lang="en-US">Segment reporting</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExposureToRisk_lbl" xml:lang="en">Description of exposure to risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DescriptionOfExposureToRisk_lbl" xml:lang="en-US">Description of exposure to risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExposureToRisk_lbl" xml:lang="en">Definition</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DescriptionOfExposureToRisk_lbl" xml:lang="en-US">Definition</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:to="ifrs-full_DividendsPaidOrdinarySharesPerShare_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare_lbl" xml:lang="en">Dividends paid, ordinary shares per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare_lbl" xml:lang="en-US">Dividends paid, ordinary shares per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare_lbl" xml:lang="en">The amount of dividends paid per ordinary share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare_lbl" xml:lang="en-US">The amount of dividends paid per ordinary share</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaidOtherSharesPerShare" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOtherSharesPerShare" xlink:to="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xml:lang="en">Dividends paid, other shares per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xml:lang="en-US">Dividends paid, other shares per share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xml:lang="en">The amount of dividends paid per other share</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xml:lang="en-US">The amount of dividends paid per other share</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en">Dividends received, classified as operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Dividends received, classified as operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en">Dividends received</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Dividends received</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities" xlink:to="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities_lbl" xml:lang="en">Dividends received from associates, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Dividends received from associates, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities_lbl" xml:lang="en">Dividends and interest on capital received</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Dividends and interest on capital received</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" xml:lang="en">Dividends recognised as distributions to non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US">Dividends recognised as distributions to non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" xml:lang="en">Increase of non-controlling shareholders&#39; interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests_lbl" xml:lang="en-US">Increase of non-controlling shareholders&#39; interest</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en">Earnings per share (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings per share (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en">Basic and diluted income per share based on the weighted average number of shares attributable to shareholders (expressed in R$ per share):</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xml:lang="en-US">Basic and diluted income per share based on the weighted average number of shares attributable to shareholders (expressed in R$ per share):</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en">Effect of Changes in Exchange Rates in Cash and Cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of Changes in Exchange Rates in Cash and Cash equivalents</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en">Employee benefits expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en-US">Employee benefits expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en">Personnel expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en-US">Personnel expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EmployeeContributions" xlink:label="ifrs-full_EmployeeContributions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeContributions" xlink:to="ifrs-full_EmployeeContributions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployeeContributions_lbl" xml:lang="en">Employee contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployeeContributions_lbl" xml:lang="en-US">Employee contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EmployeeContributions_lbl" xml:lang="en">Employees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EmployeeContributions_lbl" xml:lang="en-US">Employees</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EmployerContributions" xlink:label="ifrs-full_EmployerContributions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployerContributions" xlink:to="ifrs-full_EmployerContributions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployerContributions_lbl" xml:lang="en">Employer contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EmployerContributions_lbl" xml:lang="en-US">Employer contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EmployerContributions_lbl" xml:lang="en">Employer</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EmployerContributions_lbl" xml:lang="en-US">Employer</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember" xlink:to="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en">Entity&#39;s total for unconsolidated structured entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US">Entity&#39;s total for unconsolidated structured entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en">Entity&#39;s total for unconsolidated structured entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EntitysTotalForUnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US">Entity&#39;s total for unconsolidated structured entities [member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_lbl" xml:lang="en">Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en">Total equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en">Total equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Total equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_Equity_lbl" xml:lang="en-US">Balance on</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en">Equity [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en">Shareholders&#39; equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_EquityAbstract_lbl" xml:lang="en-US">Shareholders&#39; equity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en">Equity and liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Equity and liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en">Total liabilities and equity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xml:lang="en-US">Total liabilities and equity</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl" xml:lang="en-US">Equity attributable to owners of parent [member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_EquityMember_lbl" xml:lang="en">Equity [member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExchangeDifferencesOnTranslationAbstract" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract_lbl" xml:lang="en">Exchange differences on translation [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExchangeDifferencesOnTranslationAbstract_lbl" xml:lang="en-US">Exchange differences on translation [abstract]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en">Expected dividend as percentage, share options granted</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Expected dividend as percentage, share options granted</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en">Expected dividend as percentage, share options granted</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Expected dividend as percentage, share options granted</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en">Expected dividend as percentage, share options granted</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted_lbl" xml:lang="en-US">Expected dividend as percentage, share options granted</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseByNatureAbstract_lbl" xml:lang="en">Other administrative expenses [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ExpenseByNatureAbstract_lbl" xml:lang="en-US">Other administrative expenses [Abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xml:lang="en">Fair value of investments in associates for which there are quoted market prices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xml:lang="en-US">Fair value of investments in associates for which there are quoted market prices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xml:lang="en">Fair value of investments in associates for which there are quoted market prices</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xml:lang="en-US">Fair value of investments in associates for which there are quoted market prices</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en">Fee and commission expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en-US">Fee and commission expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en">Fee and commission expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en-US">Fee and commission expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_FeeAndCommissionExpense_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionExpenseAbstract_lbl" xml:lang="en">Fee and commission expense [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionExpenseAbstract_lbl" xml:lang="en-US">Fee and commission expense [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionExpenseAbstract_lbl" xml:lang="en">Fee and commission expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionExpenseAbstract_lbl" xml:lang="en-US">Fee and commission expenses</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en">Fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en-US">Fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en">Fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en-US">Fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FeeAndCommissionIncome_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionIncomeAbstract_lbl" xml:lang="en-US">Net fee and commission income (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeAbstract_lbl" xml:lang="en">Fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeAbstract_lbl" xml:lang="en-US">Fee and commission income</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en">Fee and commission income (expense)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en-US">Fee and commission income (expense)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en">Net fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en-US">Net fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en">Net fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FeeAndCommissionIncomeExpense_lbl" xml:lang="en-US">Net fee and commission income</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinanceLeaseLiabilities_lbl" xml:lang="en-US">Finance lease liabilities</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinanceLeaseLiabilities_lbl" xml:lang="en-US">Liabilities for acquisition of assets - financial leasing (Note 38 a)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinanceLeaseLiabilities_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_FinanceLeaseLiabilities_lbl" xml:lang="en-US">Total</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en">Financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en">Total financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Total financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en">Total financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssets_lbl" xml:lang="en-US">Total financial assets</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Financial assets at fair value through profit or loss, classified as held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Financial assets at fair value through profit or loss, classified as held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember_lbl" xml:lang="en">Financial assets at fair value through profit or loss, classified as held for trading, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember_lbl" xml:lang="en-US">Financial assets at fair value through profit or loss, classified as held for trading, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember_lbl" xml:lang="en">Financial assets held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember_lbl" xml:lang="en-US">Financial assets held for trading</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAvailableforsale" xlink:to="ifrs-full_FinancialAssetsAvailableforsale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en">Financial assets available-for-sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en-US">Financial assets available-for-sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsale_lbl" xml:lang="en-US">Balance on</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAvailableforsaleCategoryMember" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en">Financial assets available-for-sale, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en-US">Financial assets available-for-sale, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en">Financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsAvailableforsaleCategoryMember_lbl" xml:lang="en-US">Financial assets available for sale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsCategoryMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en">Financial assets, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en-US">Financial assets, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en">Financial assets, category [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsCategoryMember_lbl" xml:lang="en-US">Financial assets, category [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ifrs-full_FinancialAssetsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en">Financial assets, class [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en-US">Financial assets, class [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en">Financial assets, class [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xml:lang="en-US">Financial assets, class [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl" xml:lang="en">Financial instruments designated as hedging instruments, at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl" xml:lang="en-US">Financial instruments designated as hedging instruments, at fair value</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl" xml:lang="en">Asset/(liability)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue_lbl" xml:lang="en-US">Asset/(liability)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en">Related amount offset in the Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets_lbl" xml:lang="en-US">Related amount offset in the Balance Sheet</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US">Financial instruments subject to enforceable master netting arrangement or similar agreement not set off against financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en">Related amount not cleared in the Balance Sheet</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities_lbl" xml:lang="en-US">Related amount not cleared in the Balance Sheet</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en">Financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en">Total financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Total financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en">Total financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilities_lbl" xml:lang="en-US">Total financial liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Financial liabilities at fair value through profit or loss that meet definition of held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Financial liabilities at fair value through profit or loss that meet definition of held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Financial liabilities held for trading</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForwardContractMember" xlink:to="ifrs-full_ForwardContractMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en">Forward contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en-US">Forward contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en">Forward operations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ForwardContractMember_lbl" xml:lang="en-US">Forward operations</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_FuelAndEnergyExpense_lbl" xml:lang="en-US">Fuel and energy expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_FuelAndEnergyExpense_lbl" xml:lang="en">Water, electricity and gas</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_FuelAndEnergyExpense_lbl" xml:lang="en-US">Water, electricity and gas</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">At the end of the year</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">Adjustment for inflation and interest</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InsuranceContractsMember_lbl" xml:lang="en">Types of insurance contracts [member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceContractsMember_lbl" xml:lang="en">Types of insurance contracts [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InsuranceContractsMember_lbl" xml:lang="en-US">Types of insurance contracts [member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en">Intangible assets and goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Intangible assets and goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en">Intangible assets and goodwill, net of accumulated amortization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en-US">Intangible assets and goodwill, net of accumulated amortization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xml:lang="en">Balance on</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillAbstract_lbl" xml:lang="en">Intangible assets and goodwill (Tables) [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillAbstract_lbl" xml:lang="en-US">Intangible assets and goodwill (Tables) [Abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xml:lang="en">Intangible assets and goodwill [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xml:lang="en">Intangible assets and goodwill [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en">Intangible assets other than goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Intangible assets other than goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en">Intangible assets and goodwill, net of accumulated amortization</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill_lbl" xml:lang="en-US">Intangible assets and goodwill, net of accumulated amortization</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en">Interest expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US">Interest expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en">Interest and similar expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US">Interest and similar expenses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_InterestExpense_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Interest expense (income), net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Interest expense (income), net defined benefit liability (asset)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Interest cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Interest cost</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en">Cost of interest on actuarial obligations</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xml:lang="en-US">Cost of interest on actuarial obligations</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBonds_lbl" xml:lang="en">Interest expense on bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBonds_lbl" xml:lang="en-US">Interest expense on bonds</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnBonds_lbl" xml:lang="en">Funds from issuance of securities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnBonds_lbl" xml:lang="en-US">Funds from issuance of securities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en">Interest expense on borrowings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US">Interest expense on borrowings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en">- Borrowings and onlending</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xml:lang="en-US">- Borrowings and onlending</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnDebtInstrumentsIssued_lbl" xml:lang="en">Interest expense on debt instruments issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnDebtInstrumentsIssued_lbl" xml:lang="en-US">Interest expense on debt instruments issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnDebtInstrumentsIssued_lbl" xml:lang="en">Subordinated debt</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnDepositsFromBanks_lbl" xml:lang="en">Interest expense on deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestExpenseOnDepositsFromBanks_lbl" xml:lang="en-US">Interest expense on deposits from banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnDepositsFromBanks_lbl" xml:lang="en">- Interbank deposits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_InterestExpenseOnDepositsFromBanks_lbl" xml:lang="en-US">- Interbank deposits</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets_lbl" xml:lang="en">Interest income on available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">Interest income on available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets_lbl" xml:lang="en">- Available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">- Available for sale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks_lbl" xml:lang="en">Interest income on cash and bank balances at central banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks_lbl" xml:lang="en-US">Interest income on cash and bank balances at central banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks_lbl" xml:lang="en">Compulsory deposits with the Central Bank</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks_lbl" xml:lang="en-US">Compulsory deposits with the Central Bank</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xml:lang="en">Interest received, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Interest received, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xml:lang="en">Interest received</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Interest received</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en">Interest received, classified as operating activities</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Interest received</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_InterestRevenueExpense_lbl" xml:lang="en-US">Net interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_InterestRevenueExpense_lbl" xml:lang="en">Net interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_InterestRevenueExpense_lbl" xml:lang="en-US">Net interest income</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_IssuedCapital_lbl" xml:lang="en-US">Capital</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_JointVenturesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_JointVenturesAxis_lbl" xml:lang="en">Joint ventures [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_JointVenturesAxis_lbl" xml:lang="en-US">Joint ventures [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_JointVenturesAxis_lbl" xml:lang="en">Joint ventures [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_JointVenturesAxis_lbl" xml:lang="en-US">Joint ventures [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_JointVenturesMember" xlink:label="ifrs-full_JointVenturesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_JointVenturesMember" xlink:to="ifrs-full_JointVenturesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_JointVenturesMember_lbl" xml:lang="en">Joint ventures [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_JointVenturesMember_lbl" xml:lang="en-US">Joint ventures [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_JointVenturesMember_lbl" xml:lang="en">Joint ventures [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_JointVenturesMember_lbl" xml:lang="en-US">Joint ventures [member]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="ifrs-full_KeyManagementPersonnelCompensation" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensation" xlink:to="ifrs-full_KeyManagementPersonnelCompensation_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en">Key management personnel compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en-US">Key management personnel compensation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en">Remuneration of key management personnel</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xml:lang="en-US">Remuneration of key management personnel</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en">Key management personnel compensation, other long-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en-US">Key management personnel compensation, other long-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en">Remuneration of key management personnel - Defined contribution pension plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits_lbl" xml:lang="en-US">Remuneration of key management personnel - Defined contribution pension plans</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en">Key management personnel compensation, post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en-US">Key management personnel compensation, post-employment benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en">Key management personnel compensation, short-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xml:lang="en">Key management personnel of entity or parent [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xml:lang="en-US">Key management personnel of entity or parent [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xml:lang="en">Key management personnel</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xml:lang="en-US">Key management personnel</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LandAndBuildings" xlink:label="ifrs-full_LandAndBuildings" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandAndBuildings" xlink:to="ifrs-full_LandAndBuildings_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LandAndBuildings_lbl" xml:lang="en">Land and buildings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LandAndBuildings_lbl" xml:lang="en-US">Land and buildings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandAndBuildings_lbl" xml:lang="en">Real estate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandAndBuildings_lbl" xml:lang="en-US">Real estate</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LandMember" xlink:label="ifrs-full_LandMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandMember" xlink:to="ifrs-full_LandMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LandMember_lbl" xml:lang="en">Land [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LandMember_lbl" xml:lang="en-US">Land [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandMember_lbl" xml:lang="en">Land</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LandMember_lbl" xml:lang="en-US">Land</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember_lbl" xml:lang="en">Later than five years and not later than ten years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember_lbl" xml:lang="en-US">Later than five years and not later than ten years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember_lbl" xml:lang="en">From 5 to 10 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember_lbl" xml:lang="en-US">From 5 to 10 years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en">Later than five years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US">Later than five years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en">More than 5 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xml:lang="en-US">More than 5 years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en">Later than one month and not later than three months [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US">Later than one month and not later than three months [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en">31 to 180 days</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember_lbl" xml:lang="en-US">31 to 180 days</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en">Later than one year and not later than five years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">Later than one year and not later than five years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en">From 1 to 5 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xml:lang="en-US">From 1 to 5 years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTenYearsMember" xlink:label="ifrs-full_LaterThanTenYearsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTenYearsMember" xlink:to="ifrs-full_LaterThanTenYearsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTenYearsMember_lbl" xml:lang="en">Later than ten years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanTenYearsMember_lbl" xml:lang="en-US">Later than ten years [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTenYearsMember_lbl" xml:lang="en">Over 10 years</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanTenYearsMember_lbl" xml:lang="en-US">Over 10 years</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember" xlink:to="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en">Later than three months and not later than one year [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en-US">Later than three months and not later than one year [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en">181 to 360 days</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember_lbl" xml:lang="en-US">181 to 360 days</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en">Level 1 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 1 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en">Level 1</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 1</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en">Level 2 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 2 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en">Level 2</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 2</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en">Level 3 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3 of fair value hierarchy [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en">Level 3</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember_lbl" xml:lang="en-US">Level 3</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en">Levels of fair value hierarchy [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en">Levels of fair value hierarchy [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xml:lang="en-US">Levels of fair value hierarchy [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en">Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US">Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en">Total liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US">Total liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en">Total liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_Liabilities_lbl" xml:lang="en-US">Total liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en">Liabilities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en">Liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xml:lang="en-US">Liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromInsuranceContracts" xlink:to="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en">Liabilities under insurance contracts and reinsurance contracts issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US">Liabilities under insurance contracts and reinsurance contracts issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en">Total technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US">Total technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LiabilitiesArisingFromInsuranceContracts_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesIncurred" xlink:label="ifrs-full_LiabilitiesIncurred" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncurred" xlink:to="ifrs-full_LiabilitiesIncurred_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xml:lang="en">Liabilities incurred</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xml:lang="en-US">Liabilities incurred</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xml:lang="en">Adjustment to the cost acquisition related to the fair value of the firm commitment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xml:lang="en-US">Adjustment to the cost acquisition related to the fair value of the firm commitment</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits" xlink:to="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en">Liabilities other than actuarial present value of promised retirement benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en-US">Liabilities other than actuarial present value of promised retirement benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits_lbl" xml:lang="en-US">At the end of the year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract" xlink:label="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract" xlink:to="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en">Liabilities under insurance contracts and reinsurance contracts issued [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en-US">Liabilities under insurance contracts and reinsurance contracts issued [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en">Current and long-term liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract_lbl" xml:lang="en-US">Current and long-term liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LifeInsuranceContractsMember" xlink:label="ifrs-full_LifeInsuranceContractsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LifeInsuranceContractsMember" xlink:to="ifrs-full_LifeInsuranceContractsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en">Life insurance contracts [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en-US">Life insurance contracts [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en">Life and Pension</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LifeInsuranceContractsMember_lbl" xml:lang="en-US">Life and Pension</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LoansAndAdvancesToBanks" xlink:label="ifrs-full_LoansAndAdvancesToBanks" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansAndAdvancesToBanks" xlink:to="ifrs-full_LoansAndAdvancesToBanks_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en">Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en-US">Loans and advances to banks</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en">Loans and advances to banks, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en-US">Loans and advances to banks, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LoansAndAdvancesToBanks_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LoansAndAdvancesToCustomers" xlink:label="ifrs-full_LoansAndAdvancesToCustomers" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansAndAdvancesToCustomers" xlink:to="ifrs-full_LoansAndAdvancesToCustomers_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en">Loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en">Loans and advances to customers, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Loans and advances to customers, net of impairment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en">Total of net loans and advances to customers</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_LoansAndAdvancesToCustomers_lbl" xml:lang="en-US">Total of net loans and advances to customers</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Machinery" xlink:label="ifrs-full_Machinery" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Machinery" xlink:to="ifrs-full_Machinery_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Machinery_lbl" xml:lang="en">Machinery</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_Machinery_lbl" xml:lang="en-US">Machinery</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Machinery_lbl" xml:lang="en">Machinery and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_Machinery_lbl" xml:lang="en-US">Machinery and equipment</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en">Maturity [axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MaturityAxis_lbl" xml:lang="en">Maturity [axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaximumExposureToCreditRisk" xlink:label="ifrs-full_MaximumExposureToCreditRisk" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en">Maximum exposure to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en-US">Maximum exposure to credit risk</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en">Maximum credit risk exposure</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_MaximumExposureToCreditRisk_lbl" xml:lang="en-US">Maximum credit risk exposure</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en">Measurement [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en-US">Measurement [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en">Measurement [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MeasurementAxis_lbl" xml:lang="en-US">Measurement [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" xlink:label="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis" xlink:to="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis_lbl" xml:lang="en">Description of methods and assumptions used in preparing sensitivity analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis_lbl" xml:lang="en-US">Description of methods and assumptions used in preparing sensitivity analysis</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis_lbl" xml:lang="en">Effect on actuarial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis_lbl" xml:lang="en-US">Effect on actuarial liabilities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:to="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xml:lang="en">Minimum finance lease payments payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xml:lang="en-US">Minimum finance lease payments payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xml:lang="en">Total non-cancellable minimum future payments due on operating leases</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xml:lang="en-US">Total non-cancellable minimum future payments due on operating leases</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MotorVehicles" xlink:to="ifrs-full_MotorVehicles_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MotorVehicles_lbl" xml:lang="en">Motor vehicles</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_MotorVehicles_lbl" xml:lang="en-US">Motor vehicles</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_MotorVehicles_lbl" xml:lang="en-US">Vehicles and related</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfAssociate" xlink:to="ifrs-full_NameOfAssociate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfAssociate_lbl" xml:lang="en">Name of associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfAssociate_lbl" xml:lang="en-US">Name of associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfAssociate_lbl" xml:lang="en">Company</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfAssociate_lbl" xml:lang="en-US">Company</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfJointVenture" xlink:to="ifrs-full_NameOfJointVenture_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfJointVenture_lbl" xml:lang="en">Name of joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfJointVenture_lbl" xml:lang="en-US">Name of joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfJointVenture_lbl" xml:lang="en">Company</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfJointVenture_lbl" xml:lang="en-US">Company</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfSubsidiary" xlink:to="ifrs-full_NameOfSubsidiary_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en">Name of subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en-US">Name of subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en">Subsidiarie</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xml:lang="en-US">Subsidiarie</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged_lbl" xml:lang="en">Net amounts for pay-floating (receive-fixed) interest rate swaps for which net cash flows are exchanged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged_lbl" xml:lang="en-US">Net amounts for pay-floating (receive-fixed) interest rate swaps for which net cash flows are exchanged</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged_lbl" xml:lang="en">Differential of swaps payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged_lbl" xml:lang="en-US">Differential of swaps payable</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAssetsLiabilities_lbl" xml:lang="en">Assets (liabilities)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetAssetsLiabilities_lbl" xml:lang="en-US">Assets (liabilities)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NetAssetsLiabilities_lbl" xml:lang="en">Total High Quality Liquid Assets (HQLA)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_NetAssetsLiabilities_lbl" xml:lang="en-US">Total High Quality Liquid Assets (HQLA)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDeferredTaxLiabilities" xlink:label="ifrs-full_NetDeferredTaxLiabilities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en">Net deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en-US">Net deferred tax liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetDeferredTaxLiabilities_lbl" xml:lang="en-US">Total</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:to="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en">Net defined benefit liability (asset) [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en-US">Net defined benefit liability (asset) [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en">Net defined benefit liability (asset) [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xml:lang="en-US">Net defined benefit liability (asset) [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetEarnedPremium" xlink:label="ifrs-full_NetEarnedPremium" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetEarnedPremium" xlink:to="ifrs-full_NetEarnedPremium_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en">Net earned premium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US">Net earned premium</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en">Receipt of premiums net of fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US">Receipt of premiums net of fees</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en">Net written premiums earned</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetEarnedPremium_lbl" xml:lang="en-US">Net written premiums earned</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:to="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en">Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US">Net financial assets subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en">Net amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US">Net amount</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition" xlink:to="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en">Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US">Net financial liabilities subject to offsetting, enforceable master netting arrangements or similar agreements in statement of financial position</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en">Net amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition_lbl" xml:lang="en-US">Net amount</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetInvestmentInFinanceLease" xlink:label="ifrs-full_NetInvestmentInFinanceLease" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetInvestmentInFinanceLease" xlink:to="ifrs-full_NetInvestmentInFinanceLease_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetInvestmentInFinanceLease_lbl" xml:lang="en">Net investment in finance lease</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NetInvestmentInFinanceLease_lbl" xml:lang="en-US">Net investment in finance lease</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetInvestmentInFinanceLease_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NetInvestmentInFinanceLease_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en">Non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en">Non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interest</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en">Non-controlling interests [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US">Non-controlling interests [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en">Non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xml:lang="en-US">Non-controlling interest</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en">Non-current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Non-current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en">Associates and joint ventures non - current assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssets_lbl" xml:lang="en-US">Associates and joint ventures non - current assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale" xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en">Non-current assets or disposal groups classified as held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Non-current assets or disposal groups classified as held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en">Non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Non-current assets held for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonlifeInsuranceContractsMember" xlink:label="ifrs-full_NonlifeInsuranceContractsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonlifeInsuranceContractsMember" xlink:to="ifrs-full_NonlifeInsuranceContractsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonlifeInsuranceContractsMember_lbl" xml:lang="en">Non-life insurance contracts [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NonlifeInsuranceContractsMember_lbl" xml:lang="en-US">Non-life insurance contracts [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NonlifeInsuranceContractsMember_lbl" xml:lang="en">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NonlifeInsuranceContractsMember_lbl" xml:lang="en-US">Insurance</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotLaterThanOneMonthMember" xlink:label="ifrs-full_NotLaterThanOneMonthMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en">Not later than one month [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US">Not later than one month [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en">1 to 30 days</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xml:lang="en-US">1 to 30 days</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en">Not later than one year [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en-US">Not later than one year [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en">Due within one year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xml:lang="en-US">Due within one year</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotesAndDebenturesIssued" xlink:label="ifrs-full_NotesAndDebenturesIssued" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotesAndDebenturesIssued" xlink:to="ifrs-full_NotesAndDebenturesIssued_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en">Notes and debentures issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en-US">Notes and debentures issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en">Subtotal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_NotesAndDebenturesIssued_lbl" xml:lang="en-US">Subtotal</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en">Notional amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US">Notional amount</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en">Notional amounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NotionalAmount_lbl" xml:lang="en-US">Notional amounts</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en">Number of shares issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en-US">Number of shares issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en">Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xml:lang="en-US">Shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en">Number of shares issued and fully paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en-US">Number of shares issued and fully paid</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en">Subtotal</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xml:lang="en-US">Subtotal</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en">Number of shares outstanding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US">Number of shares outstanding</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en">Number of shares outstanding on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xml:lang="en-US">Number of shares outstanding on</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingSegmentsMember" xlink:to="ifrs-full_OperatingSegmentsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en">Operating segments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en-US">Operating segments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en">Operating segments [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xml:lang="en-US">Operating segments [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OptionContractMember" xlink:label="ifrs-full_OptionContractMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OptionContractMember" xlink:to="ifrs-full_OptionContractMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en">Option contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en-US">Option contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en">Options</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OptionContractMember_lbl" xml:lang="en-US">Options</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en">Ordinary shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en-US">Ordinary shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en">Common shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xml:lang="en-US">Common shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherAssets" xlink:label="ifrs-full_OtherAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssets" xlink:to="ifrs-full_OtherAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherAssets_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCashAndCashEquivalents" xlink:label="ifrs-full_OtherCashAndCashEquivalents" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashAndCashEquivalents" xlink:to="ifrs-full_OtherCashAndCashEquivalents_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en">Other cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en-US">Other cash and cash equivalents</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCashAndCashEquivalents_lbl" xml:lang="en-US">Other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_lbl" xml:lang="en">Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_lbl" xml:lang="en-US">Other comprehensive income, net of tax, change in fair value of financial liability attributable to change in credit risk of liability</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_lbl" xml:lang="en">Net tax credit of deferred liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability_lbl" xml:lang="en-US">Net tax credit of deferred liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xml:lang="en">Other comprehensive income that will be reclassified to profit or loss, before tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xml:lang="en-US">Other comprehensive income that will be reclassified to profit or loss, before tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xml:lang="en">Other amounts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xml:lang="en-US">Other amounts</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentFinancialAssets" xlink:label="ifrs-full_OtherCurrentFinancialAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialAssets" xlink:to="ifrs-full_OtherCurrentFinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xml:lang="en">Other current financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xml:lang="en-US">Other current financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xml:lang="en">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xml:lang="en-US">Other financial assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialLiabilities" xlink:to="ifrs-full_OtherCurrentFinancialLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xml:lang="en">Other current financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xml:lang="en-US">Other current financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xml:lang="en">Other financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xml:lang="en-US">Other financial liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentNonfinancialAssets" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en">Other current non-financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en-US">Other current non-financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en">Total non-financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xml:lang="en-US">Total non-financial assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialLiabilities" xlink:to="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xml:lang="en">Other current non-financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xml:lang="en-US">Other current non-financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xml:lang="en">Total non-financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherCurrentNonfinancialLiabilities_lbl" xml:lang="en-US">Total non-financial liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherEmployeeExpense" xlink:label="ifrs-full_OtherEmployeeExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEmployeeExpense" xlink:to="ifrs-full_OtherEmployeeExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xml:lang="en">Other employee expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xml:lang="en-US">Other employee expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xml:lang="en">Other employee expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xml:lang="en-US">Other employee expense</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByFunction" xlink:to="ifrs-full_OtherExpenseByFunction_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en">Other expense, by function</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en-US">Other expense, by function</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en">Other operating expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en-US">Other operating expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en">Other operating expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xml:lang="en-US">Other operating expense</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFeeAndCommissionExpense" xlink:label="ifrs-full_OtherFeeAndCommissionExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFeeAndCommissionExpense" xlink:to="ifrs-full_OtherFeeAndCommissionExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFeeAndCommissionExpense_lbl" xml:lang="en">Other fee and commission expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFeeAndCommissionExpense_lbl" xml:lang="en-US">Other fee and commission expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherFeeAndCommissionExpense_lbl" xml:lang="en">Financial system services</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherFeeAndCommissionExpense_lbl" xml:lang="en-US">Financial system services</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFeeAndCommissionIncome" xlink:label="ifrs-full_OtherFeeAndCommissionIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFeeAndCommissionIncome" xlink:to="ifrs-full_OtherFeeAndCommissionIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFeeAndCommissionIncome_lbl" xml:lang="en">Other fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFeeAndCommissionIncome_lbl" xml:lang="en-US">Other fee and commission income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFeeAndCommissionIncome_lbl" xml:lang="en">Other</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFeeAndCommissionIncome_lbl" xml:lang="en-US">Other</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFinancialAssets" xlink:label="ifrs-full_OtherFinancialAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinancialAssets" xlink:to="ifrs-full_OtherFinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFinancialAssets_lbl" xml:lang="en">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherFinancialAssets_lbl" xml:lang="en-US">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFinancialAssets_lbl" xml:lang="en">Other financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherFinancialAssets_lbl" xml:lang="en-US">Other financial assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_OtherIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en">Other income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en-US">Other income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en">Other operating income/(loss)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en-US">Other operating income/(loss)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en">Other operating income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherIncome_lbl" xml:lang="en-US">Other operating income</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates" xlink:label="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates" xlink:to="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates_lbl" xml:lang="en">Other income (expense) from subsidiaries, jointly controlled entities and associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates_lbl" xml:lang="en-US">Other income (expense) from subsidiaries, jointly controlled entities and associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates_lbl" xml:lang="en">Equity in net income of associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates_lbl" xml:lang="en-US">Equity in net income of associates</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities" xlink:to="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities_lbl" xml:lang="en">Other inflows (outflows) of cash, classified as operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Other inflows (outflows) of cash, classified as operating activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities_lbl" xml:lang="en">Other changes in taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities_lbl" xml:lang="en-US">Other changes in taxes</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en">Other intangible assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en-US">Other intangible assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en">Others</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xml:lang="en-US">Others</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherLiabilities" xlink:label="ifrs-full_OtherLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLiabilities" xlink:to="ifrs-full_OtherLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherLiabilities_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued" xlink:to="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">Other liabilities under insurance contracts and reinsurance contracts issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US">Other liabilities under insurance contracts and reinsurance contracts issued</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">Other technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US">Other technical provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en">The claims table does not include the products</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued_lbl" xml:lang="en-US">The claims table does not include the products</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherLongtermBenefits" xlink:label="ifrs-full_OtherLongtermBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherLongtermBenefits" xlink:to="ifrs-full_OtherLongtermBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLongtermBenefits_lbl" xml:lang="en">Other long-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherLongtermBenefits_lbl" xml:lang="en-US">Other long-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherLongtermBenefits_lbl" xml:lang="en">Benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherLongtermBenefits_lbl" xml:lang="en-US">Benefits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNonfinancialAssets" xlink:label="ifrs-full_OtherNonfinancialAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNonfinancialAssets" xlink:to="ifrs-full_OtherNonfinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNonfinancialAssets_lbl" xml:lang="en">Other non-financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNonfinancialAssets_lbl" xml:lang="en-US">Other non-financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialAssets_lbl" xml:lang="en">Other assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialAssets_lbl" xml:lang="en-US">Other assets</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNonfinancialLiabilities" xlink:label="ifrs-full_OtherNonfinancialLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNonfinancialLiabilities" xlink:to="ifrs-full_OtherNonfinancialLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en">Other non-financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en-US">Other non-financial liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en">Other liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherNonfinancialLiabilities_lbl" xml:lang="en-US">Other liabilities</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="ifrs-full_OtherOperatingIncomeExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en">Other operating income (expense)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Other operating income (expense)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Other operating income/(expenses)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_OtherOperatingIncomeExpense_lbl" xml:lang="en-US">Total</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:to="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xml:lang="en">Other property, plant and equipment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Other property, plant and equipment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xml:lang="en">Installations, properties and equipment for use</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Installations, properties and equipment for use</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherProvisions" xlink:label="ifrs-full_OtherProvisions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisions" xlink:to="ifrs-full_OtherProvisions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherProvisions_lbl" xml:lang="en">Other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherProvisions_lbl" xml:lang="en-US">Other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherProvisions_lbl" xml:lang="en">Other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherProvisions_lbl" xml:lang="en-US">Other provisions</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ifrs-full_OtherProvisionsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en">Other provisions [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en-US">Other provisions [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en">Other provisions [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xml:lang="en-US">Other provisions [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherReceivables" xlink:label="ifrs-full_OtherReceivables" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReceivables" xlink:to="ifrs-full_OtherReceivables_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en">Other receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en-US">Other receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en">Income receivable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReceivables_lbl" xml:lang="en-US">Income receivable</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherReserves" xlink:label="ifrs-full_OtherReserves" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReserves" xlink:to="ifrs-full_OtherReserves_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en">Other reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en-US">Other reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en">Profit reserves</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_OtherReserves_lbl" xml:lang="en-US">Profit reserves</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherShorttermEmployeeBenefits" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherShorttermEmployeeBenefits" xlink:to="ifrs-full_OtherShorttermEmployeeBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl" xml:lang="en">Other short-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl" xml:lang="en-US">Other short-term employee benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl" xml:lang="en">Employee profit sharing</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_OtherShorttermEmployeeBenefits_lbl" xml:lang="en-US">Employee profit sharing</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en">Past due status [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en-US">Past due status [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en">Past due status [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xml:lang="en-US">Past due status [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ifrs-full_PastDueStatusMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en">Past due status [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en-US">Past due status [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en">Past due status [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PastDueStatusMember_lbl" xml:lang="en-US">Past due status [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xml:lang="en">Payables on social security and taxes other than income tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xml:lang="en-US">Payables on social security and taxes other than income tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xml:lang="en">Other taxes payable</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xml:lang="en-US">Other taxes payable</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits" xlink:label="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits" xlink:to="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits_lbl" xml:lang="en">Payments for premiums and claims, annuities and other policy benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits_lbl" xml:lang="en-US">Payments for premiums and claims, annuities and other policy benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits_lbl" xml:lang="en">Payments of claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits_lbl" xml:lang="en-US">Payments of claims</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PlanAssetsMember" xlink:label="ifrs-full_PlanAssetsMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsMember" xlink:to="ifrs-full_PlanAssetsMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en">Plan assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en-US">Plan assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en">Plan assets [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PlanAssetsMember_lbl" xml:lang="en-US">Plan assets [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PortfolioAndOtherManagementFeeIncome" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PortfolioAndOtherManagementFeeIncome" xlink:to="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en">Portfolio and other management fee income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en-US">Portfolio and other management fee income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en">Asset management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en-US">Asset management</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en">Consortium which nature and involvement is related to generation management fees of consortium quotas</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PortfolioAndOtherManagementFeeIncome_lbl" xml:lang="en-US">Consortium which nature and involvement is related to generation management fees of consortium quotas</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en">Post-employment benefit expense, defined benefit plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en-US">Post-employment benefit expense, defined benefit plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en">Insurance technical provisions and pension plans</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xml:lang="en-US">Insurance technical provisions and pension plans</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PreferenceSharesMember" xlink:label="ifrs-full_PreferenceSharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PreferenceSharesMember" xlink:to="ifrs-full_PreferenceSharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en">Preference shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en-US">Preference shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en">Preferred shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xml:lang="en-US">Preferred shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PremiumsWrittenNetOfReinsurance" xlink:label="ifrs-full_PremiumsWrittenNetOfReinsurance" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PremiumsWrittenNetOfReinsurance" xlink:to="ifrs-full_PremiumsWrittenNetOfReinsurance_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PremiumsWrittenNetOfReinsurance_lbl" xml:lang="en">Premiums written, net of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PremiumsWrittenNetOfReinsurance_lbl" xml:lang="en-US">Premiums written, net of reinsurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PremiumsWrittenNetOfReinsurance_lbl" xml:lang="en">Insurance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PremiumsWrittenNetOfReinsurance_lbl" xml:lang="en-US">Insurance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en">Proceeds from contributions of non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en-US">Proceeds from contributions of non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en">Increase/(decrease) of non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xml:lang="en-US">Increase/(decrease) of non-controlling interest</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets" xlink:label="ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets_lbl" xml:lang="en">Proceeds from disposal or maturity of available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">Proceeds from disposal or maturity of available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets_lbl" xml:lang="en">Proceeds from sale of financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">Proceeds from sale of financial assets available for sale</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:label="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities" xlink:to="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_lbl" xml:lang="en">Proceeds from issue of subordinated liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_lbl" xml:lang="en-US">Proceeds from issue of subordinated liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities_lbl" xml:lang="en">Issuance of subordinated debts</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" xlink:label="ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares_lbl" xml:lang="en">Proceeds from sale or issue of treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares_lbl" xml:lang="en-US">Proceeds from sale or issue of treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares_lbl" xml:lang="en">Acquisition of treasury shares</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en">Proceeds from sales of property, plant and equipment, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en">Sale of premises and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Sale of premises and equipment</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xml:lang="en">Proceeds from sales or maturity of financial instruments, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Proceeds from sales or maturity of financial instruments, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xml:lang="en">Maturity of investments held to maturity</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Maturity of investments held to maturity</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfessionalFeesExpense" xlink:label="ifrs-full_ProfessionalFeesExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfessionalFeesExpense" xlink:to="ifrs-full_ProfessionalFeesExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xml:lang="en">Professional fees expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xml:lang="en-US">Professional fees expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xml:lang="en">Training</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xml:lang="en-US">Training</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en">Profit (loss)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Profit (loss)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en">Net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Net income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en">Net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en">Net income for the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLoss_lbl" xml:lang="en-US">Net income for the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en">Profit (loss), attributable to [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US">Profit (loss), attributable to [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en">Attributable to shareholders:</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xml:lang="en-US">Attributable to shareholders:</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en">Profit (loss), attributable to non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Profit (loss), attributable to non-controlling interests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en">Attributable to non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Attributable to non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en">Non-controlling interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xml:lang="en-US">Non-controlling interest</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en">Profit (loss), attributable to owners of parent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US">Profit (loss), attributable to owners of parent</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en">Attributable to controlling shareholders</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US">Attributable to controlling shareholders</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en">Controlling shareholders</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xml:lang="en-US">Controlling shareholders</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en">Profit (loss) before tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Profit (loss) before tax</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en">Income before income taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Income before income taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en">Income before income tax and social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Income before income tax and social contribution</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en">Income before income taxes</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xml:lang="en-US">Income before income taxes</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en">Property, plant and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en">Property and equipment, net of accumulated depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Property and equipment, net of accumulated depreciation</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en">Balance on</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xml:lang="en-US">Balance on</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en">Property, plant and equipment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property, plant and equipment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en">Property, plant and equipment [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property, plant and equipment [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en">Proportion of ownership interest in associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US">Proportion of ownership interest in associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en">Equity interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US">Equity interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en">Proportion of ownership interest in associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xml:lang="en-US">Proportion of ownership interest in associate</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xml:lang="en">Proportion of ownership interest in joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xml:lang="en-US">Proportion of ownership interest in joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xml:lang="en">Equity interest</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xml:lang="en-US">Equity interest</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en">Proportion of ownership interest in subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en">Shareholding interest (%)</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xml:lang="en-US">Shareholding interest (%)</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfVotingPowerHeldInAssociate" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInAssociate_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate_lbl" xml:lang="en">Proportion of voting rights held in associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate_lbl" xml:lang="en-US">Proportion of voting rights held in associate</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate_lbl" xml:lang="en">Shareholding interest with voting rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInAssociate_lbl" xml:lang="en-US">Shareholding interest with voting rights</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:label="ifrs-full_ProportionOfVotingRightsHeldInJointVenture" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfVotingRightsHeldInJointVenture" xlink:to="ifrs-full_ProportionOfVotingRightsHeldInJointVenture_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfVotingRightsHeldInJointVenture_lbl" xml:lang="en">Proportion of voting rights held in joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProportionOfVotingRightsHeldInJointVenture_lbl" xml:lang="en-US">Proportion of voting rights held in joint venture</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfVotingRightsHeldInJointVenture_lbl" xml:lang="en">Shareholding interest with voting rights</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProportionOfVotingRightsHeldInJointVenture_lbl" xml:lang="en-US">Shareholding interest with voting rights</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionUsedOtherProvisions" xlink:to="ifrs-full_ProvisionUsedOtherProvisions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionUsedOtherProvisions_lbl" xml:lang="en">Provision used, other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionUsedOtherProvisions_lbl" xml:lang="en-US">Provision used, other provisions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionUsedOtherProvisions_lbl" xml:lang="en">Indexation charges</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionUsedOtherProvisions_lbl" xml:lang="en-US">Indexation charges</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests" xlink:label="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests" xlink:to="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests_lbl" xml:lang="en">Provisions arising from liability adequacy tests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests_lbl" xml:lang="en-US">Provisions arising from liability adequacy tests</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests_lbl" xml:lang="en">Claims reported by policyholders</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests_lbl" xml:lang="en-US">Claims reported by policyholders</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProvisionsForFutureNonparticipatingBenefits" xlink:label="ifrs-full_ProvisionsForFutureNonparticipatingBenefits" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionsForFutureNonparticipatingBenefits" xlink:to="ifrs-full_ProvisionsForFutureNonparticipatingBenefits_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionsForFutureNonparticipatingBenefits_lbl" xml:lang="en">Provisions for future non-participating benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ProvisionsForFutureNonparticipatingBenefits_lbl" xml:lang="en-US">Provisions for future non-participating benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionsForFutureNonparticipatingBenefits_lbl" xml:lang="en">Mathematical reserve for unvested benefits</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ProvisionsForFutureNonparticipatingBenefits_lbl" xml:lang="en-US">Mathematical reserve for unvested benefits</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfAvailableforsaleFinancialAssets" xlink:label="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets" xlink:to="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets_lbl" xml:lang="en">Purchase of available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">Purchase of available-for-sale financial assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets_lbl" xml:lang="en">(Acquisitions) of financial assets available for sale</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfAvailableforsaleFinancialAssets_lbl" xml:lang="en-US">(Acquisitions) of financial assets available for sale</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en">Purchase of intangible assets, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of intangible assets, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en">(Acquisition) of intangible assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xml:lang="en-US">(Acquisition) of intangible assets</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfInterestsInAssociates" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfInterestsInAssociates" xlink:to="ifrs-full_PurchaseOfInterestsInAssociates_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates_lbl" xml:lang="en">Purchase of interests in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates_lbl" xml:lang="en-US">Purchase of interests in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates_lbl" xml:lang="en">(Acquisitions) of investments in associates</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfInterestsInAssociates_lbl" xml:lang="en-US">(Acquisitions) of investments in associates</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en">Purchase of property, plant and equipment, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en">(Acquisition) of property and equipment</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xml:lang="en-US">(Acquisition) of property and equipment</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfTreasuryShares" xlink:label="ifrs-full_PurchaseOfTreasuryShares" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfTreasuryShares" xlink:to="ifrs-full_PurchaseOfTreasuryShares_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfTreasuryShares_lbl" xml:lang="en">Purchase of treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_PurchaseOfTreasuryShares_lbl" xml:lang="en-US">Purchase of treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PurchaseOfTreasuryShares_lbl" xml:lang="en">Purchase of treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_PurchaseOfTreasuryShares_lbl" xml:lang="en-US">Purchase of treasury shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts" xlink:to="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts_lbl" xml:lang="en">Receivables and payables related to insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts_lbl" xml:lang="en-US">Receivables and payables related to insurance contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts_lbl" xml:lang="en">(-) Receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts_lbl" xml:lang="en-US">(-) Receivables</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReinsuranceAssets" xlink:label="ifrs-full_ReinsuranceAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReinsuranceAssets" xlink:to="ifrs-full_ReinsuranceAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en">Reinsurance assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US">Reinsurance assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US">At the beginning of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_ReinsuranceAssets_lbl" xml:lang="en-US">At the end of the year</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarnings_lbl" xml:lang="en-US">Retained earnings</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en">Retained earnings [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US">Retained earnings [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en">Retained earnings</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xml:lang="en-US">Retained earnings</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevaluationSurplus_lbl" xml:lang="en">Revaluation surplus</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevaluationSurplus_lbl" xml:lang="en-US">Revaluation surplus</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevaluationSurplus_lbl" xml:lang="en-US">Reserve for financial surplus</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en-US">Interest income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en">Interest and similar income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en-US">Interest and similar income</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en">Total</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_RevenueFromInterest_lbl" xml:lang="en-US">Total</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ReversalOfImpairmentLoss_lbl" xml:lang="en-US">Reversal of impairment loss</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en">Segment consolidation items [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en-US">Segment consolidation items [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en">Segment consolidation items [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xml:lang="en-US">Segment consolidation items [axis]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ServiceConcessionRightsMember_lbl" xml:lang="en">Service concession rights [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ServiceConcessionRightsMember_lbl" xml:lang="en-US">Service concession rights [member]</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ServiceConcessionRightsMember_lbl" xml:lang="en-US">Acquisition of financial service rights</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ServicesExpense_lbl" xml:lang="en-US">Services expense</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax_lbl" xml:lang="en-US">Share of other comprehensive income of associates and joint ventures accounted for using equity method, before tax</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax_lbl" xml:lang="en-US">Income before income taxes and share of profit of associates and joint ventures</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en">Share of profit (loss) of associates and joint ventures accounted for using equity method</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Share of profit (loss) of associates and joint ventures accounted for using equity method</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xml:lang="en-US">Income before income taxes and share of profit of associates and joint ventures</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xml:lang="en">Interbank investments</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xml:lang="en">Associates [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xml:lang="en-US">Associates [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xml:lang="en">Associates [axis]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en">Subsidiaries [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xml:lang="en-US">Subsidiaries [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SocialSecurityContributions" xlink:label="ifrs-full_SocialSecurityContributions" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SocialSecurityContributions" xlink:to="ifrs-full_SocialSecurityContributions_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SocialSecurityContributions_lbl" xml:lang="en">Social security contributions</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SocialSecurityContributions_lbl" xml:lang="en-US">Social security contributions</link:label>
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_SocialSecurityContributions_lbl" xml:lang="en-US">Social security charges</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ifrs-full_StatementOfChangesInEquityAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xml:lang="en">Statement of changes in equity [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en">Statement of changes in equity [line items]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xml:lang="en-US">Statement of changes in equity [line items]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="ifrs-full_StatementOfChangesInEquityTable" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en">Statement of changes in equity [table]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xml:lang="en-US">Statement of changes in equity [table]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en">Statement of financial position [abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of financial position [abstract]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatutoryReserve" xlink:to="ifrs-full_StatutoryReserve_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en">Statutory reserve</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en-US">Statutory reserve</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en">Social and statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en-US">Social and statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en">Shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_StatutoryReserve_lbl" xml:lang="en-US">Shares</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatutoryReserveMember" xlink:to="ifrs-full_StatutoryReserveMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatutoryReserveMember_lbl" xml:lang="en">Statutory reserve [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_StatutoryReserveMember_lbl" xml:lang="en-US">Statutory reserve [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatutoryReserveMember_lbl" xml:lang="en">Profit reserves Statutory</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_StatutoryReserveMember_lbl" xml:lang="en-US">Profit reserves Statutory</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SubordinatedLiabilities" xlink:to="ifrs-full_SubordinatedLiabilities_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en">Subordinated liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en-US">Subordinated liabilities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en">Balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en-US">Balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en">Initial balances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en-US">Initial balances</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en">At the end of the year</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="ifrs-full_SubordinatedLiabilities_lbl" xml:lang="en-US">At the end of the year</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubordinatedLiabilitiesAbstract_lbl" xml:lang="en">Subordinated debt [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubordinatedLiabilitiesAbstract_lbl" xml:lang="en-US">Subordinated debt [Abstract]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubordinatedLiabilitiesAbstract_lbl" xml:lang="en">Subordinated debt</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubordinatedLiabilitiesAbstract_lbl" xml:lang="en-US">Subordinated debt</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SubsidiariesMember" xlink:to="ifrs-full_SubsidiariesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubsidiariesMember_lbl" xml:lang="en">Subsidiaries [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SubsidiariesMember_lbl" xml:lang="en-US">Subsidiaries [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubsidiariesMember_lbl" xml:lang="en">Subsidiaries [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SubsidiariesMember_lbl" xml:lang="en-US">Subsidiaries [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SurplusDeficitInPlan" xlink:to="ifrs-full_SurplusDeficitInPlan_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en">Surplus (deficit) in plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en-US">Surplus (deficit) in plan</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en">Net balance</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SurplusDeficitInPlan_lbl" xml:lang="en-US">Net balance</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en">Swap contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en-US">Swap contract [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en">Swap contracts</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_SwapContractMember_lbl" xml:lang="en-US">Swap contracts</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfImpairmentOfGoodwill" xlink:to="ifrs-full_TaxEffectOfImpairmentOfGoodwill_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfImpairmentOfGoodwill_lbl" xml:lang="en">Tax effect of impairment of goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfImpairmentOfGoodwill_lbl" xml:lang="en-US">Tax effect of impairment of goodwill</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TaxEffectOfImpairmentOfGoodwill_lbl" xml:lang="en">Effect of the (additions)/reversal of provision for tax contingency</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TaxEffectOfImpairmentOfGoodwill_lbl" xml:lang="en-US">Effect of the (additions)/reversal of provision for tax contingency</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xml:lang="en">Tax effect of tax losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xml:lang="en-US">Tax effect of tax losses</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xml:lang="en">Tax effect</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xml:lang="en-US">Tax effect</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceMember_lbl" xml:lang="en">Temporary differences [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceMember_lbl" xml:lang="en-US">Temporary differences [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceMember_lbl" xml:lang="en">Temporary differences</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceMember_lbl" xml:lang="en-US">Temporary differences</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TerminationBenefitsExpense" xlink:to="ifrs-full_TerminationBenefitsExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xml:lang="en">Termination benefits expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xml:lang="en-US">Termination benefits expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xml:lang="en">Provision for labor claims</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xml:lang="en-US">Provision for labor claims</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeReceivables" xlink:label="ifrs-full_TradeReceivables" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivables" xlink:to="ifrs-full_TradeReceivables_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en">Trade receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en-US">Trade receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en">Trade and credit receivables</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TradeReceivables_lbl" xml:lang="en-US">Trade and credit receivables</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets" xlink:to="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en">Transfers out of Level 3 of fair value hierarchy, assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US">Transfers out of Level 3 of fair value hierarchy, assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en">Transfers out of Level 3 of fair value hierarchy, assets</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets_lbl" xml:lang="en-US">Transfers out of Level 3 of fair value hierarchy, assets</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TransportationExpense" xlink:label="ifrs-full_TransportationExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransportationExpense" xlink:to="ifrs-full_TransportationExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransportationExpense_lbl" xml:lang="en">Transportation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TransportationExpense_lbl" xml:lang="en-US">Transportation expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TransportationExpense_lbl" xml:lang="en">Transport</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TransportationExpense_lbl" xml:lang="en-US">Transport</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TravelExpense" xlink:label="ifrs-full_TravelExpense" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TravelExpense" xlink:to="ifrs-full_TravelExpense_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TravelExpense_lbl" xml:lang="en">Travel expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TravelExpense_lbl" xml:lang="en-US">Travel expense</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TravelExpense_lbl" xml:lang="en">Travel</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TravelExpense_lbl" xml:lang="en-US">Travel</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en">Treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en-US">Treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en">Treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="ifrs-full_TreasuryShares_lbl" xml:lang="en-US">Treasury shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TreasurySharesMember" xlink:label="ifrs-full_TreasurySharesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasurySharesMember" xlink:to="ifrs-full_TreasurySharesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en">Treasury shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en-US">Treasury shares [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en">Treasury shares</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TreasurySharesMember_lbl" xml:lang="en-US">Treasury shares</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfInsuranceContractsAxis" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInsuranceContractsAxis" xlink:to="ifrs-full_TypesOfInsuranceContractsAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis_lbl" xml:lang="en">Types of insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis_lbl" xml:lang="en-US">Types of insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis_lbl" xml:lang="en">Types of insurance contracts [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfInsuranceContractsAxis_lbl" xml:lang="en-US">Types of insurance contracts [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en">Types of risks [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en-US">Types of risks [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en">Types of risks [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xml:lang="en-US">Types of risks [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en">Risks [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en-US">Risks [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en">Risks [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xml:lang="en-US">Risks [member]</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesAxis" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en">Unconsolidated structured entities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en-US">Unconsolidated structured entities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en">Unconsolidated structured entities [axis]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesAxis_lbl" xml:lang="en-US">Unconsolidated structured entities [axis]</link:label>
  </link:labelLink>
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnconsolidatedStructuredEntitiesMember" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnconsolidatedStructuredEntitiesMember" xlink:to="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en">Unconsolidated structured entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US">Unconsolidated structured entities [member]</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en">Unconsolidated structured entities</link:label>
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ifrs-full_UnconsolidatedStructuredEntitiesMember_lbl" xml:lang="en-US">Unconsolidated structured entities</link:label>
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  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnearnedPremiums" xlink:label="ifrs-full_UnearnedPremiums" />
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    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ifrs-full_UnearnedPremiums_lbl" xml:lang="en">Unearned premiums</link:label>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867417312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2017<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2017<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">BANK BRADESCO<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001160330<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">3,049,448,563<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="nump">3,035,625,047<span></span>
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</tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Document and Entity Information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DocumentAndEntityInformationAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td>xbrli:gMonthDayItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868171056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest and similar income</a></td>
<td class="nump">R$ 126,232,328<span></span>
</td>
<td class="nump">R$ 147,700,375<span></span>
</td>
<td class="nump">R$ 127,048,252<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest and similar expenses</a></td>
<td class="num">(75,589,415)<span></span>
</td>
<td class="num">(91,037,386)<span></span>
</td>
<td class="num">(71,412,210)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="nump">50,642,913<span></span>
</td>
<td class="nump">56,662,989<span></span>
</td>
<td class="nump">55,636,042<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Fee and commission income</a></td>
<td class="nump">22,748,828<span></span>
</td>
<td class="nump">20,341,087<span></span>
</td>
<td class="nump">17,856,873<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionExpense', window );">Fee and commission expenses</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="num">(36,203)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="nump">22,748,828<span></span>
</td>
<td class="nump">20,341,051<span></span>
</td>
<td class="nump">17,820,670<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="nump">9,623,108<span></span>
</td>
<td class="nump">16,402,770<span></span>
</td>
<td class="num">(8,252,055)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="nump">570,358<span></span>
</td>
<td class="num">(1,341,400)<span></span>
</td>
<td class="num">(671,810)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments', window );">Losses on investments held-to-maturity</a></td>
<td class="num">(54,520)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnForeignCurrencyTransactions', window );">Net gains/(losses) on foreign currency transactions</a></td>
<td class="nump">1,422,957<span></span>
</td>
<td class="nump">150,757<span></span>
</td>
<td class="num">(3,523,095)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlans', window );">Net income from insurance and pension plans</a></td>
<td class="nump">6,239,990<span></span>
</td>
<td class="nump">4,155,763<span></span>
</td>
<td class="nump">5,497,505<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income</a></td>
<td class="nump">17,801,893<span></span>
</td>
<td class="nump">19,367,890<span></span>
</td>
<td class="num">(6,949,455)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="num">(16,860,835)<span></span>
</td>
<td class="num">(15,350,278)<span></span>
</td>
<td class="num">(14,721,152)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="num">(20,723,265)<span></span>
</td>
<td class="num">(17,003,783)<span></span>
</td>
<td class="num">(14,058,047)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Other administrative expenses</a></td>
<td class="num">(16,882,461)<span></span>
</td>
<td class="num">(16,149,563)<span></span>
</td>
<td class="num">(13,721,970)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="num">(4,568,568)<span></span>
</td>
<td class="num">(3,658,413)<span></span>
</td>
<td class="num">(2,942,003)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses)</a></td>
<td class="num">(10,133,357)<span></span>
</td>
<td class="num">(14,004,162)<span></span>
</td>
<td class="num">(12,988,553)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expense</a></td>
<td class="num">(69,168,486)<span></span>
</td>
<td class="num">(66,166,199)<span></span>
</td>
<td class="num">(58,431,725)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod', window );">Income before income taxes and share of profit of associates and joint ventures</a></td>
<td class="nump">22,025,148<span></span>
</td>
<td class="nump">30,205,731<span></span>
</td>
<td class="nump">8,075,532<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="nump">1,718,411<span></span>
</td>
<td class="nump">1,699,725<span></span>
</td>
<td class="nump">1,528,051<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="nump">23,743,559<span></span>
</td>
<td class="nump">31,905,456<span></span>
</td>
<td class="nump">9,603,583<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="num">(6,428,956)<span></span>
</td>
<td class="num">(13,912,730)<span></span>
</td>
<td class="nump">8,634,322<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="nump">17,314,603<span></span>
</td>
<td class="nump">17,992,726<span></span>
</td>
<td class="nump">18,237,905<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToAbstract', window );"><strong>Attributable to shareholders:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Controlling shareholders</a></td>
<td class="nump">17,089,364<span></span>
</td>
<td class="nump">17,894,249<span></span>
</td>
<td class="nump">18,132,906<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interest</a></td>
<td class="nump">R$ 225,239<span></span>
</td>
<td class="nump">R$ 98,477<span></span>
</td>
<td class="nump">R$ 104,999<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Basic and diluted income per share based on the weighted average number of shares attributable to shareholders (expressed in R$ per share):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">- Earnings per</a></td>
<td class="nump">R$ 2.67<span></span>
</td>
<td class="nump">R$ 2.80<span></span>
</td>
<td class="nump">R$ 2.84<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Basic and diluted income per share based on the weighted average number of shares attributable to shareholders (expressed in R$ per share):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">- Earnings per</a></td>
<td class="nump">R$ 2.94<span></span>
</td>
<td class="nump">R$ 3.08<span></span>
</td>
<td class="nump">R$ 3.12<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnForeignCurrencyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on foreign currency transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnForeignCurrencyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statement Line Items [Line Items]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on available-for-sale financial assets. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss classified as held for trading. [Refer: Financial assets at fair value through profit or loss, classified as held for trading; Gains (losses) on financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_i&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for loans and advances. [Refer: Impairment loss recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByFunction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'function of expense' form for its analysis of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByFunction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense from subsidiaries, jointly controlled entities and associates that the entity does not separately disclose in the same statement or note. [Refer: Associates [member]; Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868154464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeStatementAbstract', window );"><strong>Profit or loss [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="nump">R$ 17,314,603<span></span>
</td>
<td class="nump">R$ 17,992,726<span></span>
</td>
<td class="nump">R$ 18,237,905<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnrealizedGainslossesOnFinancialAssetsAvailableForSale', window );">Unrealized gains/(losses) on financial assets available for sale</a></td>
<td class="nump">2,931,550<span></span>
</td>
<td class="nump">7,757,475<span></span>
</td>
<td class="num">(4,754,469)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale', window );">Realized gains/(losses) on financial assets available for sale</a></td>
<td class="nump">487,017<span></span>
</td>
<td class="num">(1,459,372)<span></span>
</td>
<td class="num">(923,433)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfTaxLosses', window );">Tax effect</a></td>
<td class="num">(1,231,202)<span></span>
</td>
<td class="num">(2,587,076)<span></span>
</td>
<td class="nump">2,273,982<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract', window );"><strong>Exchange differences on translations of foreign operations</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Foreign exchange on translations of foreign operations</a></td>
<td class="nump">23,010<span></span>
</td>
<td class="num">(194,566)<span></span>
</td>
<td class="nump">118,485<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxEffect', window );">Tax effect</a></td>
<td class="nump">5,992<span></span>
</td>
<td class="nump">87,555<span></span>
</td>
<td class="num">(57,788)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentsNotIncludedInTheNetIncome', window );">Total adjustments not included in the net income</a></td>
<td class="nump">2,216,367<span></span>
</td>
<td class="nump">3,604,016<span></span>
</td>
<td class="num">(3,343,223)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income for the year</a></td>
<td class="nump">19,530,970<span></span>
</td>
<td class="nump">21,596,742<span></span>
</td>
<td class="nump">14,894,682<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Attributable to shareholders:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Controlling shareholders</a></td>
<td class="nump">19,305,731<span></span>
</td>
<td class="nump">21,498,265<span></span>
</td>
<td class="nump">14,789,683<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interest</a></td>
<td class="nump">R$ 225,239<span></span>
</td>
<td class="nump">R$ 98,477<span></span>
</td>
<td class="nump">R$ 104,999<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdjustmentsNotIncludedInTheNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments not included in the net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdjustmentsNotIncludedInTheNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Realized gains/(losses) on financial assets available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RealizedGainslossesOnFinancialAssetsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax effect.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UnrealizedGainslossesOnFinancialAssetsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized gains/(losses) on financial assets available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UnrealizedGainslossesOnFinancialAssetsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AvailableforsaleFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
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<td>ifrs-full_</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExchangeDifferencesOnTranslationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfTaxLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to tax losses. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfTaxLosses</td>
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<tr>
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<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867293568">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Financial Position - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 81,742,951<span></span>
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<td class="nump">R$ 72,554,651<span></span>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">241,710,041<span></span>
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<td class="nump">213,139,846<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">159,412,722<span></span>
</td>
<td class="nump">113,118,554<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="nump">43,002,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">183,975,173<span></span>
</td>
<td class="nump">155,286,577<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">32,247,724<span></span>
</td>
<td class="nump">94,838,136<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">346,758,099<span></span>
</td>
<td class="nump">367,303,034<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Non-current assets held for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,520,973<span></span>
</td>
<td class="nump">1,578,966<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,257,384<span></span>
</td>
<td class="nump">7,002,778<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,432,475<span></span>
</td>
<td class="nump">8,397,116<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Intangible assets and goodwill, net of accumulated amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,179,307<span></span>
</td>
<td class="nump">15,797,526<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsNoncurrent', window );">Taxes to be offset</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,524,575<span></span>
</td>
<td class="nump">7,723,211<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred income tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">43,731,911<span></span>
</td>
<td class="nump">45,116,863<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50,853,987<span></span>
</td>
<td class="nump">47,170,370<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,224,353,440<span></span>
</td>
<td class="nump">1,192,029,656<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,957,468<span></span>
</td>
<td class="nump">301,662,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">262,008,445<span></span>
</td>
<td class="nump">232,747,929<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,274,999<span></span>
</td>
<td class="nump">13,435,678<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">135,174,090<span></span>
</td>
<td class="nump">151,101,938<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50,179,401<span></span>
</td>
<td class="nump">52,611,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">239,089,590<span></span>
</td>
<td class="nump">215,840,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,490,727<span></span>
</td>
<td class="nump">18,292,409<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current income tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,416,345<span></span>
</td>
<td class="nump">2,130,286<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,251,847<span></span>
</td>
<td class="nump">1,762,948<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">97,816,824<span></span>
</td>
<td class="nump">96,965,515<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,106,659,736<span></span>
</td>
<td class="nump">1,086,550,449<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Shareholders' equity</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">59,100,000<span></span>
</td>
<td class="nump">51,100,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TreasuryShares', window );">Treasury shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(440,514)<span></span>
</td>
<td class="num">(440,514)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Capital reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">35,973<span></span>
</td>
<td class="nump">35,973<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReserves', window );">Profit reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49,481,227<span></span>
</td>
<td class="nump">50,027,816<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalPaidinCapital', window );">Additional paid-in capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">70,496<span></span>
</td>
<td class="nump">70,496<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AccumulatedOtherComprehensiveIncome', window );">Other comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,817,659<span></span>
</td>
<td class="num">(398,708)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RetainedEarnings', window );">Retained earnings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,338,990<span></span>
</td>
<td class="nump">4,907,381<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Equity attributable to controlling shareholders</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">117,403,831<span></span>
</td>
<td class="nump">105,302,444<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">289,873<span></span>
</td>
<td class="nump">176,763<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">117,693,704<span></span>
</td>
<td class="nump">105,479,207<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,224,353,440<span></span>
</td>
<td class="nump">R$ 1,192,029,656<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateral</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccumulatedOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccumulatedOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalPaidinCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount received or receivable from the issuance of the entity's shares in excess of nominal value and amounts received from other transactions involving the entity's stock or stockholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalPaidinCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CapitalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the capital reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CapitalReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and bank balances held at central banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from customers held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss classified as held for trading. A financial asset is classified as held for trading if: (a) it is acquired principally for the purpose of selling it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities at fair value through profit or loss that meet the definition of held for trading. A financial liability is classified as held for trading if: (a) it is acquired or incurred principally for the purpose of selling or repurchasing it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: Financial liabilities at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2017-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=10&amp;date=2017-03-01&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale. [Refer: Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2017-01-01<br> -Paragraph 38<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2017-03-01&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RetainedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the entity's cumulative undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RetainedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are subordinate to other liabilities with respect to claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>An entity&#8217;s own equity instruments, held by the entity or other members of the consolidated group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2017-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2017-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6869138704">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Share capital</div></th>
<th class="th"><div>Treasury shares</div></th>
<th class="th"><div>Capital reserves</div></th>
<th class="th"><div>Profit reserves Legal</div></th>
<th class="th"><div>Profit reserves Statutory</div></th>
<th class="th"><div>Additional paid-in capital</div></th>
<th class="th"><div>Other comprehensive income</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Retained earnings</div></th>
<th class="th"><div>Equity attributable to controlling shareholders</div></th>
<th class="th"><div>Non-controlling interest</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance on at Dec. 31, 2014</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 82,291,805<span></span>
</td>
<td class="nump">R$ 38,100,000<span></span>
</td>
<td class="num">R$ (298,015)<span></span>
</td>
<td class="nump">R$ 35,973<span></span>
</td>
<td class="nump">R$ 5,193,467<span></span>
</td>
<td class="nump">R$ 38,571,882<span></span>
</td>
<td class="nump">R$ 70,496<span></span>
</td>
<td colspan="2" class="num">R$ (659,501)<span></span>
</td>
<td class="nump">R$ 1,153,439<span></span>
</td>
<td class="nump">R$ 82,167,741<span></span>
</td>
<td class="nump">R$ 124,064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,237,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">18,132,906<span></span>
</td>
<td class="nump">18,132,906<span></span>
</td>
<td class="nump">104,999<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,403,920)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="num">(3,403,920)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,403,920)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">60,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,894,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,789,683<span></span>
</td>
<td class="nump">104,999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Increase of non-controlling shareholders' interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,446<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfTreasuryShares', window );">Purchase of treasury shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(133,033)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(133,033)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(133,033)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase with reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransfersToReserves', window );">Transfers to reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">859,482<span></span>
</td>
<td class="nump">10,295,189<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(11,154,671)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestOnEquityAndDividends', window );">Interest on equity and dividends</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,167,138)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(6,034,964)<span></span>
</td>
<td class="num">(6,034,964)<span></span>
</td>
<td class="num">(132,174)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance on at Dec. 31, 2015</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">90,914,762<span></span>
</td>
<td class="nump">43,100,000<span></span>
</td>
<td class="num">(431,048)<span></span>
</td>
<td class="nump">35,973<span></span>
</td>
<td class="nump">6,052,949<span></span>
</td>
<td class="nump">43,867,071<span></span>
</td>
<td class="nump">70,496<span></span>
</td>
<td colspan="2" class="num">(4,002,724)<span></span>
</td>
<td class="nump">2,096,710<span></span>
</td>
<td class="nump">90,789,427<span></span>
</td>
<td class="nump">125,335<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,992,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">17,894,249<span></span>
</td>
<td class="nump">17,894,249<span></span>
</td>
<td class="nump">98,477<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,711,027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">3,711,027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,711,027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(107,011)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="num">(107,011)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(107,011)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">21,596,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,498,265<span></span>
</td>
<td class="nump">98,477<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Increase of non-controlling shareholders' interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,265<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfTreasuryShares', window );">Purchase of treasury shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,466)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase with reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransfersToReserves', window );">Transfers to reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">754,179<span></span>
</td>
<td class="nump">7,353,617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(8,107,796)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestOnEquityAndDividends', window );">Interest on equity and dividends</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,026,096)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(6,975,782)<span></span>
</td>
<td class="num">(6,975,782)<span></span>
</td>
<td class="num">(50,314)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance on at Dec. 31, 2016</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,479,207<span></span>
</td>
<td class="nump">51,100,000<span></span>
</td>
<td class="num">(440,514)<span></span>
</td>
<td class="nump">35,973<span></span>
</td>
<td class="nump">6,807,128<span></span>
</td>
<td class="nump">43,220,688<span></span>
</td>
<td class="nump">70,496<span></span>
</td>
<td colspan="2" class="num">(398,708)<span></span>
</td>
<td class="nump">4,907,381<span></span>
</td>
<td class="nump">105,302,444<span></span>
</td>
<td class="nump">176,763<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,314,603<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">17,089,364<span></span>
</td>
<td class="nump">17,089,364<span></span>
</td>
<td class="nump">225,239<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,187,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">2,187,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,187,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,002<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">29,002<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,002<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Comprehensive income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,530,970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,305,731<span></span>
</td>
<td class="nump">225,239<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests', window );">Increase of non-controlling shareholders' interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,099<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase with reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,000,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransfersToReserves', window );">Transfers to reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">732,888<span></span>
</td>
<td class="nump">6,720,523<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(7,453,411)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestOnEquity', window );">Interest on shareholders' equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,318,572)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="num">(7,204,344)<span></span>
</td>
<td class="num">(7,204,344)<span></span>
</td>
<td class="num">(114,228)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance on at Dec. 31, 2017</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 117,693,704<span></span>
</td>
<td class="nump">R$ 59,100,000<span></span>
</td>
<td class="num">R$ (440,514)<span></span>
</td>
<td class="nump">R$ 35,973<span></span>
</td>
<td class="nump">R$ 7,540,016<span></span>
</td>
<td class="nump">R$ 41,941,211<span></span>
</td>
<td class="nump">R$ 70,496<span></span>
</td>
<td colspan="2" class="nump">R$ 1,817,659<span></span>
</td>
<td class="nump">R$ 7,338,990<span></span>
</td>
<td class="nump">R$ 117,403,831<span></span>
</td>
<td class="nump">R$ 289,873<span></span>
</td>
</tr>
<tr><td colspan="14"></td></tr>
<tr><td colspan="14"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, consists, basically of unrealized net gains/losses of marketable securities, classified as available for sale (Notes 21 and 23), whose accumulated effect net of taxes amounts to R$ (1,070,252) thousand (December 2016 - R$ 154,958 thousand);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">At Special Shareholders' Meeting held on March 10, 2015, the shareholders deliberated the increase of Capital stock by R$ 5,000,000 thousand, from R$ 38,100,000 thousand to R$ 43,100,000 thousand, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with bonus of 20% in shares, with issuance of 841,454,808 new registered shares, without par value, of which 420,727,426 are common and 420,727,382 are preferred shares. These shares are granted to the shareholders, free of charge, as bonus, at the proportion of two (2) new share to each ten (10) shares of the same type held by them, which benefits the shareholders enrolled in the records of Bradesco on March 26, 2015;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">At Special Shareholders' Meeting held on March 10, 2016, the shareholders approved the Board of Directors' proposal to increase the capital by R$ 8,000,000 thousand, from R$ 43,100,000 thousand to R$ 51,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with issuance of 504,872,885 new registered shares, without par value, of which 252,436,456 are common and 252,436,429 are preferred shares, which will be granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">At Special Shareholders' Meeting held on March 10, 2017, the shareholders approved the Board of Directors' proposal to increase the capital by R$ 8,000,000 thousand, from R$ 51,100,000 thousand to R$ 59,100,000 thousand, with bonus in shares, through capitalization of part of the balance of the caption 'Profit reserves - Statutory Reserve', in conformity with Article 169 of Law No. 6.404/76, with issuance of 555,360,173 new registered shares, without par value, of which 277,680,101 are common and 277,680,072 are preferred, which were granted to the shareholders, free of charge, as bonus, at the proportion of 1 new share to each 10 shares of the same type held by them on the base date.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestOnEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest on equity and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestOnEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestOnEquityAndDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest on equity and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestOnEquityAndDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransfersToReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transfers to reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransfersToReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on change in value of foreign currency basis spreads, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInValueOfForeignCurrencyBasisSpreadsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<SEQUENCE>45
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867646496">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract', window );"><strong>Operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities', window );">Income before income taxes</a></td>
<td class="nump">R$ 23,743,559<span></span>
</td>
<td class="nump">R$ 31,905,456<span></span>
</td>
<td class="nump">R$ 9,603,583<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract', window );"><strong>Adjustments to reconcile income before income tax to net cash flow from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Impairment of loans and advances</a></td>
<td class="nump">16,860,835<span></span>
</td>
<td class="nump">15,350,278<span></span>
</td>
<td class="nump">14,721,152<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInTheInsuranceTechnicalProvisionsAndPensionPlans', window );">Changes in the technical provisions for insurance and pension plans</a></td>
<td class="nump">34,805,771<span></span>
</td>
<td class="nump">32,781,918<span></span>
</td>
<td class="nump">28,286,039<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesFromDisposalsOfAssetsAvailableForSale', window );">Net (gains)/losses from disposals of assets available for sale</a></td>
<td class="num">(2,299,397)<span></span>
</td>
<td class="num">(764,707)<span></span>
</td>
<td class="nump">247,288<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpensesWithProvisionsAndContingentLiabilities', window );">Expenses with provisions and contingent liabilities</a></td>
<td class="nump">2,471,288<span></span>
</td>
<td class="nump">2,518,761<span></span>
</td>
<td class="nump">3,510,916<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredAcquisitionCostInsurance', window );">Deferred acquisition cost (insurance)</a></td>
<td class="nump">680,136<span></span>
</td>
<td class="nump">194,994<span></span>
</td>
<td class="num">(95,110)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLoss', window );">Impairment of assets</a></td>
<td class="nump">1,925,304<span></span>
</td>
<td class="nump">2,388,580<span></span>
</td>
<td class="nump">650,588<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense', window );">Depreciation</a></td>
<td class="nump">1,237,328<span></span>
</td>
<td class="nump">1,140,369<span></span>
</td>
<td class="nump">1,057,722<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentsAmortizationOfIntangibleAssets', window );">Amortization of intangible assets</a></td>
<td class="nump">3,331,240<span></span>
</td>
<td class="nump">2,516,777<span></span>
</td>
<td class="nump">1,884,281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Share of profit of associates and joint ventures</a></td>
<td class="num">(1,718,411)<span></span>
</td>
<td class="num">(1,699,725)<span></span>
</td>
<td class="num">(1,528,051)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets', window );">Losses on disposal of non-current assets held for sale</a></td>
<td class="nump">577,212<span></span>
</td>
<td class="nump">442,251<span></span>
</td>
<td class="nump">180,602<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetLossesFromDisposalOfPropertyAndEquipment', window );">Net losses from disposal of property and equipment</a></td>
<td class="nump">106,722<span></span>
</td>
<td class="nump">24,791<span></span>
</td>
<td class="nump">96,630<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainsOnSaleOfInvestmentsInAssociates', window );">(Gains) on sale of investments in associates</a></td>
<td class="num">(270,977)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges', window );">Effect of Changes in Exchange Rates in Cash and Cash equivalents</a></td>
<td class="num">(806,312)<span></span>
</td>
<td class="nump">5,617,747<span></span>
</td>
<td class="num">(2,911,155)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssetsAndLiabilitiesAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncreasedecreaseInReserveRequirementCentralBank', window );">(Increase)/Decrease in reserve requirement - Central Bank</a></td>
<td class="num">(8,677,695)<span></span>
</td>
<td class="nump">11,651,121<span></span>
</td>
<td class="num">(3,866,979)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities', window );">(Increase)/decrease in loans and advances to banks</a></td>
<td class="num">(2,493,535)<span></span>
</td>
<td class="nump">10,368,220<span></span>
</td>
<td class="nump">2,045,985<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers', window );">(Increase)/decrease in loans and advances to customers</a></td>
<td class="num">(59,578,512)<span></span>
</td>
<td class="num">(49,649,090)<span></span>
</td>
<td class="num">(95,025,702)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncreasedecreaseInFinancialAssetsHeldForTrading', window );">(Increase)/decrease in financial assets held for trading</a></td>
<td class="num">(23,089,236)<span></span>
</td>
<td class="num">(40,248,319)<span></span>
</td>
<td class="num">(80,159,223)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets', window );">(Increase)/decrease in other assets</a></td>
<td class="num">(23,384,107)<span></span>
</td>
<td class="num">(8,296,942)<span></span>
</td>
<td class="num">(32,926,622)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks', window );">Increase/(decrease) in deposits from banks</a></td>
<td class="nump">3,955,797<span></span>
</td>
<td class="nump">33,269,744<span></span>
</td>
<td class="nump">40,729,421<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers', window );">Increase/(decrease) in deposits from customers</a></td>
<td class="nump">36,853,866<span></span>
</td>
<td class="num">(6,707,994)<span></span>
</td>
<td class="num">(3,463,924)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading', window );">Increase/(decrease) in financial liabilities held for trading</a></td>
<td class="nump">839,321<span></span>
</td>
<td class="num">(9,700,099)<span></span>
</td>
<td class="nump">16,030,156<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncreasedecreaseInInsuranceTechnicalProvisionsAndPensionPlans', window );">Increase/(decrease) in technical provisions for insurance and pension plans</a></td>
<td class="num">(11,556,181)<span></span>
</td>
<td class="num">(2,042,897)<span></span>
</td>
<td class="num">(3,904,319)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForProvisions', window );">Increase/(decrease) in other provisions</a></td>
<td class="num">(2,272,970)<span></span>
</td>
<td class="num">(3,019,960)<span></span>
</td>
<td class="num">(2,011,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities', window );">Increase/(decrease) in other liabilities</a></td>
<td class="nump">19,117,355<span></span>
</td>
<td class="nump">10,312,756<span></span>
</td>
<td class="nump">29,295,296<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities', window );">Interest received</a></td>
<td class="nump">61,743,368<span></span>
</td>
<td class="nump">70,917,068<span></span>
</td>
<td class="nump">62,725,684<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Interest paid</a></td>
<td class="num">(27,254,361)<span></span>
</td>
<td class="num">(45,140,018)<span></span>
</td>
<td class="num">(38,823,738)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities', window );">Income tax and social contribution paid</a></td>
<td class="num">(8,575,438)<span></span>
</td>
<td class="num">(9,771,075)<span></span>
</td>
<td class="num">(7,419,802)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities', window );">Other changes in taxes</a></td>
<td class="num">(720,182)<span></span>
</td>
<td class="num">(400,787)<span></span>
</td>
<td class="num">(283,883)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Net cash provided by/(used in) operating activities</a></td>
<td class="nump">35,551,788<span></span>
</td>
<td class="nump">53,959,218<span></span>
</td>
<td class="num">(61,354,165)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract', window );"><strong>Investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary', window );">(Acquisitions)/disposal of subsidiaries, net of cash and cash equivalents paid/received</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(7,188,659)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfAvailableforsaleFinancialAssets', window );">(Acquisitions) of financial assets available for sale</a></td>
<td class="num">(114,186,612)<span></span>
</td>
<td class="num">(108,296,179)<span></span>
</td>
<td class="num">(61,153,632)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets', window );">Proceeds from sale of financial assets available for sale</a></td>
<td class="nump">82,760,146<span></span>
</td>
<td class="nump">115,724,092<span></span>
</td>
<td class="nump">39,147,316<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities', window );">Maturity of investments held to maturity</a></td>
<td class="nump">4,219,351<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">269,063<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsFromAcquisitionsInvestmentProperty', window );">(Acquisitions) of investments held to maturity</a></td>
<td class="num">(204,557)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DisposalOfNoncurrentAssetsHeldForSale', window );">Disposal of non-current assets held for sale</a></td>
<td class="nump">796,869<span></span>
</td>
<td class="nump">629,768<span></span>
</td>
<td class="nump">742,732<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfInterestsInAssociates', window );">(Acquisitions) of investments in associates</a></td>
<td class="num">(83,172)<span></span>
</td>
<td class="num">(376,434)<span></span>
</td>
<td class="num">(971,672)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities', window );">Dividends and interest on capital received</a></td>
<td class="nump">845,134<span></span>
</td>
<td class="nump">510,285<span></span>
</td>
<td class="nump">668,178<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">(Acquisition) of property and equipment</a></td>
<td class="num">(1,897,645)<span></span>
</td>
<td class="num">(2,779,321)<span></span>
</td>
<td class="num">(2,181,549)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Sale of premises and equipment</a></td>
<td class="nump">445,347<span></span>
</td>
<td class="nump">486,303<span></span>
</td>
<td class="nump">205,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities', window );">(Acquisition) of intangible assets</a></td>
<td class="num">(3,743,704)<span></span>
</td>
<td class="num">(2,343,497)<span></span>
</td>
<td class="num">(1,971,881)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities', window );">Dividends received</a></td>
<td class="nump">83,341<span></span>
</td>
<td class="nump">117,972<span></span>
</td>
<td class="nump">251,623<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities', window );">Interest received</a></td>
<td class="nump">12,735,539<span></span>
</td>
<td class="nump">12,668,011<span></span>
</td>
<td class="nump">13,033,426<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Net cash provided by/(used in) investing activities</a></td>
<td class="num">(18,229,963)<span></span>
</td>
<td class="nump">9,152,341<span></span>
</td>
<td class="num">(11,961,302)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract', window );"><strong>Financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundFromSecuritiesIssued', window );">Funds from securities issued</a></td>
<td class="nump">62,237,380<span></span>
</td>
<td class="nump">47,253,373<span></span>
</td>
<td class="nump">68,385,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PaymentsOnSecuritiesIssued', window );">Payments on securities issued</a></td>
<td class="num">(72,494,509)<span></span>
</td>
<td class="num">(47,861,607)<span></span>
</td>
<td class="num">(49,217,829)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities', window );">Issuance of subordinated debts</a></td>
<td class="nump">6,594,610<span></span>
</td>
<td class="nump">3,787,207<span></span>
</td>
<td class="nump">11,304,318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfSubordinatedLiabilities', window );">Payments on subordinated debts</a></td>
<td class="num">(8,666,038)<span></span>
</td>
<td class="num">(581,713)<span></span>
</td>
<td class="num">(1,271,261)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares', window );">Acquisition of treasury shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(9,466)<span></span>
</td>
<td class="num">(133,033)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests', window );">Increase/(decrease) of non-controlling interest</a></td>
<td class="nump">2,099<span></span>
</td>
<td class="nump">3,265<span></span>
</td>
<td class="nump">28,446<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestPaidCashFlowsFromUsedInInvestingActivities', window );">Interest paid</a></td>
<td class="num">(24,465,562)<span></span>
</td>
<td class="num">(20,504,528)<span></span>
</td>
<td class="num">(11,093,967)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities', window );">Interest on equity and dividends paid</a></td>
<td class="num">(6,512,102)<span></span>
</td>
<td class="num">(5,611,350)<span></span>
</td>
<td class="num">(5,007,596)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Net cash provided by/(used in) financing activities</a></td>
<td class="num">(43,304,122)<span></span>
</td>
<td class="num">(23,524,819)<span></span>
</td>
<td class="nump">12,994,265<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">(Decrease)/Increase in cash and cash equivalents</a></td>
<td class="num">(25,982,297)<span></span>
</td>
<td class="nump">39,586,740<span></span>
</td>
<td class="num">(60,321,202)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">At the beginning of the year</a></td>
<td class="nump">181,230,427<span></span>
</td>
<td class="nump">147,261,434<span></span>
</td>
<td class="nump">204,671,481<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of Changes in Exchange Rates in Cash and Cash equivalents</a></td>
<td class="nump">806,312<span></span>
</td>
<td class="num">(5,617,747)<span></span>
</td>
<td class="nump">2,911,155<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">At the end of the year</a></td>
<td class="nump">156,054,442<span></span>
</td>
<td class="nump">181,230,427<span></span>
</td>
<td class="nump">147,261,434<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">(Decrease)/Increase in cash and cash equivalents</a></td>
<td class="num">(25,982,297)<span></span>
</td>
<td class="nump">39,586,740<span></span>
</td>
<td class="num">(60,321,202)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NoncashTransactionsAbstract', window );"><strong>Non-cash transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale', window );">Credit operations transferred to non-current assets held for sale</a></td>
<td class="nump">1,953,996<span></span>
</td>
<td class="nump">2,122,871<span></span>
</td>
<td class="nump">1,591,998<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DividendsAndInterestOnEquityDeclaredButNotYetPaid', window );">Dividends and interest on equity declared but not yet paid</a></td>
<td class="nump">4,295,314<span></span>
</td>
<td class="nump">4,482,718<span></span>
</td>
<td class="nump">3,622,958<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnrealizedGainslossesOnSecuritiesAvailableForSale', window );">Unrealized (gains)/losses on securities available for sale</a></td>
<td class="num">R$ (2,187,365)<span></span>
</td>
<td class="num">R$ (3,711,027)<span></span>
</td>
<td class="nump">R$ 3,403,920<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdjustmentsAmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amortization of intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdjustmentsAmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in assets and liabilities [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInTheInsuranceTechnicalProvisionsAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in the insurance technical provisions and pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInTheInsuranceTechnicalProvisionsAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit operations transferred to non-current assets held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditOperationsTransferredToNoncurrentAssetsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredAcquisitionCostInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred acquisition cost (insurance).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredAcquisitionCostInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DisposalOfNoncurrentAssetsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disposal of non-current assets held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DisposalOfNoncurrentAssetsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DividendsAndInterestOnEquityDeclaredButNotYetPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dividends and interest on equity declared but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DividendsAndInterestOnEquityDeclaredButNotYetPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpensesWithProvisionsAndContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses with provisions and contingent liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpensesWithProvisionsAndContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FundFromSecuritiesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Funds from securities issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FundFromSecuritiesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GainsOnSaleOfInvestmentsInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(Gains) on sale of investments in associates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GainsOnSaleOfInvestmentsInAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncreasedecreaseInFinancialAssetsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(Increase)/decrease in financial assets held for trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncreasedecreaseInFinancialAssetsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase/(decrease) in financial liabilities held for trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncreasedecreaseInFinancialLiabilitiesHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncreasedecreaseInInsuranceTechnicalProvisionsAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase/(decrease) in insurance technical provisions and pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncreasedecreaseInInsuranceTechnicalProvisionsAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncreasedecreaseInReserveRequirementCentralBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(Increase)/Decrease in reserve requirement - Central Bank</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncreasedecreaseInReserveRequirementCentralBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestPaidCashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestPaidCashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesFromDisposalsOfAssetsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net (gains)/losses from disposals of assets available for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesFromDisposalsOfAssetsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetLossesFromDisposalOfPropertyAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net losses from disposal of property and equipment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetLossesFromDisposalOfPropertyAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NoncashTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-cash transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NoncashTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PaymentsOnSecuritiesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments on securities issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PaymentsOnSecuritiesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UnrealizedGainslossesOnSecuritiesAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized (gains)/losses on securities available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UnrealizedGainslossesOnSecuritiesAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsFromAcquisitionsInvestmentProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to investment property resulting from acquisitions. [Refer: Investment property]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2017-01-01<br> -Paragraph 76<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2017-03-01&amp;anchor=para_76_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 40<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=40&amp;date=2017-03-01&amp;anchor=para_79_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsFromAcquisitionsInvestmentProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in loans and advances to customers to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Loans and advances to customers; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in other assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals investments in subsidiaries, joint ventures and associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries, joint ventures and associates; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss (reversal of impairment loss) recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in deposits from banks to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deposits from banks; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in deposits from customers to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deposits from customers; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in other liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Other liabilities; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for losses (gains) on disposal of non-current assets to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Non-current assets; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForReconcileProfitLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForReconcileProfitLossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash advances and loans made to other parties (other than advances and loans made by a financial institution), classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAdvancesAndLoansMadeToOtherPartiesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for dividends paid by the entity, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from dividends received, classified as operating activities. [Refer: Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow representing dividends received from associates, classified as investing activities. [Refer: Associates [member]; Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedFromAssociatesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss. [Refer: Impairment loss; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 126<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_126_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 129<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_129_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for income taxes paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as operating activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents before the effect of exchange rate changes on cash and cash equivalents held in foreign currencies. [Refer: Cash and cash equivalents; Effect of exchange rate changes on cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the disposal of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughDisposalOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Inflows (outflows) of cash, classified as operating activities, that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from proceeds from contributions of non-controlling interests. [Refer: Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal or maturity of available-for-sale financial assets. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalOrMaturityOfAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of subordinated liabilities. [Refer: Subordinated liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfSubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale or issuing of treasury shares. [Refer: Sale or issue of treasury shares; Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from sales or maturity of financial instruments, classified as investing activities. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSalesOrMaturityOfFinancialInstrumentsClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of available-for-sale financial assets. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of intangible assets, classified as investing activities. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of interests in associates. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for repayments of subordinated liabilities. [Refer: Subordinated liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>General information<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GeneralInformationAbstract', window );"><strong>General information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923249" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">1.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">General information</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Banco Bradesco S.A. and subsidiaries (&#8220;Bradesco&#8221;, the &#8220;Bank&#8221;, the &#8220;Company&#8221; or the &#8220;Organization&#8221;) is a publicly-traded company established according to the laws of the Federative Republic of Brazil with headquarters in the city of Osasco, state of S&#227;o Paulo, Brazil.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Bradesco is a bank that provides multiple services within two segments: banking and insurance. The Bank complies with Brazilian banking regulations and operates throughout all of Brazil. The banking segment includes a range of banking activities, serving individual and corporate customers in the following operations: investment banking, national and international banking operations, asset management operations and consortium administration. The insurance segment covers auto, health, life, accident and property insurance and pension plans as well as capitalization bonds.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The retail banking products include demand deposits, savings deposits, time deposits, mutual funds, foreign exchange services and a range of loans and advances , including overdrafts, credit cards and loans with repayments in installments. The services provided to corporate entities include fund management and treasury services, foreign exchange operations, corporate finance and investment banking services, hedge and finance operations including working capital financing, lease and loans with repayments in installments. These services are provided, mainly, in domestic markets, but also include international services on a smaller scale.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization was originally listed on the S&#227;o Paulo Stock Exchange (&#8220;B3&#8221;) and then subsequently on the New York Stock Exchange (&#8220;NYSE&#8221;).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The consolidated financial statements, in accordance with the IFRS, were approved by the Board of Directors on March 07, 2018.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>General information [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for general information about financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 51<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_51&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830285472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory', window );">Significant Accounting Policies</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923250" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">2.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Significant Accounting Policies</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These consolidated financial statements of the Organization were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The consolidated financial statements include the consolidated statements of financial position, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows as well as the notes to the consolidated financial statements.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These consolidated financial statements have been prepared based on historical cost, except for the following material items in the balance sheet: available for sale measured at fair value, assets and liabilities held for trading measured at fair value and financial instruments designated at fair value through profit or loss, and defined-benefit liabilities that are recognized at the present value of the defined benefit obligation less the net total of the plan assets, plus unrecognized actuarial gains less the cost of past services not recognized.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization has classified its expenses according to their nature.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The consolidated statement of cash flows shows the changes in cash and cash equivalents during the year arising from operating, investing and financing activities. Cash and cash equivalents include highly liquid investments. Note 19 details the accounts of the consolidated statement of financial position that comprise cash and cash equivalents. The consolidated statement of cash flows is prepared using the indirect method. Accordingly, the income before taxes was adjusted by non-cash items such as provisions, depreciation, amortization and Impairment losses on loans and advances. 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The consolidated financial statements also reflect various estimates and assumptions, including, but not limited to: adjustments to the impairment provision of loans and advances; estimates of the fair value of financial instruments; depreciation and amortization rates; impairment losses on assets; the useful life of intangible assets; evaluation of the realization of tax assets; assumptions for the calculation of technical provisions for insurance, supplemental pension plans and capitalization bonds; provisions for contingencies and provisions for potential losses arising from fiscal and tax uncertainties. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The accounting policies listed below were used in all the periods presented and by all the companies of the Organization.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923251" /><a name="_Toc474919302" /><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">2.1</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">Recent Acquisitions </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In August, 2015, Bradesco signed the Purchase and Sale of Shares Agreement with HSBC Latin America Holdings Limited for the acquisition of 100% of the equity of HSBC Bank Brasil S.A. (&#8220;HSBC Bank&#8221;) and HSBC Servi&#231;os e Participa&#231;&#245;es Ltda. (&#8220;HSBC Servi&#231;os&#8221;). In June 2016, the final approval of regulatory agencies was given in compliance with legal formalities. With the conclusion of the acquisition, on July 1, 2016, Bradesco assumed all operations of &#160;HSBC in Brazil, including retail, insurance and asset management, as well as all the branches and clients, reinforcing its presence and competitiveness throughout the national territory.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In July 2016, there was a total division of the equity of HSBC Servi&#231;os, where portions of this &#160;equity&#160; were transferred to HSBC Bank and to Credival Participa&#231;&#245;es, Administra&#231;&#227;o e Assessoria Ltda. (Credival), that is a wholly owned subsidiary of HSBC Bank.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In October 2016, approval was granted in an Extraordinary General Meeting for the partial spin-off of HSBC Brasil, through the absorption of portions of its equity by companies of the Organization, enabling progress with the integration of operational and technological platforms, resulting in the replacement of the HSBC brand in its service network, becoming Bradesco. Thus, Bradesco began to operate with a unified platform (branches, ATMs, and systems), to which all clients have access to. 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style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;"> <tr style="height:14.15pt;"> <td width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td colspan="3" valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;page-break-inside:avoid;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Accounting</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustments </font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair Value (1)</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Desposits with the central banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,364,585</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,650,016)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,714,569</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,450</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,411</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,861</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Property and equipment, net of accumulated depreciation </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,175,554</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">622,246</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,800</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">558,015</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,551,758</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,808,692</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">848,699</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,657,391</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from securities issued</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,187,105)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(64,701)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,251,806)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sub-total</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,066,683</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Total amount of s</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">hareholders&#39; equity acquired</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The fair value of the consideration transferred was composed as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;"> <tr style="height:14.15pt;"> <td width="83%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Payment to HSBC Latin America Holding Limited, net of adjustment after closure <sup>(1)</sup></font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,665,367</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustment to the cost acquisition related to the fair value of the firm commitment<sup> (2)</sup></font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> </font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,623,103</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:5.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes the IOF collection, and withholding Income Tax; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2) Includes the results from changes to the fair value </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> h</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In December 2016, Bradesco, based on a study report on purchase price allocation ("PPA"), prepared by a contracted specialized and independent company, 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valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholders&#39; equity acquired</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of assets acquired and liabilities assumed</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(221,361)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" 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style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0pt;margin-top:0in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These acquisitions were recorded on the business combination method and the companies were consolidated from the date that the majority control was acquired.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The goodwill on acquisition, in the amount of R$ 4,221,787 thousand, recorded by Bradesco, is not amortized and is subject to annual impairment test. 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style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The consolidated financial statements include the financial statements of Bradesco and those of its direct and indirect subsidiaries, including exclusive mutual funds and special purpose entities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main subsidiaries included in the consolidated financial statements are as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Base_de_Consolidacao_Controladas" width="99%" style="border-collapse:collapse;margin-left:.5in;width:99.94%;"> <tr style="height:12.2pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Base_de_Consolidacao_Controladas" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Activity</font></b></p> </td> <td rowspan="3" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Country</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">December 31</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 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style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Boavista Interatl&#226;ntico S.A. (1)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Argentina S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Argentina</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Europa S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Luxembourg</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BERJ S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradescard S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BBI S.A. (1)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment bank</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.85%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.81%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Cart&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Administradora de Cons&#243;rcios Ltda. </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradseg Participa&#231;&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Auto/RE Cia. de Seguros</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Capitaliza&#231;&#227;o S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Odontoprev S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dental care</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Leasing S.A. Arrendamento Mercantil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leasing</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Sa&#250;de S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance / Health</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Seguros S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesplan Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">BRAM - Bradesco Asset Management S.A. DTVM</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tempo Servi&#231;os Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Services</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Uni&#227;o Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Losango S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Administradora de Cons&#243;rcios Ltda (2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Bank Brasil S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Capitaliza&#231;&#227;o S.A. 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(4) (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.54%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.08%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Participa&#231;&#245;es e Investimentos Ltda (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; 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</font><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Life and pension products</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">For private pension products and Life Insurance with Coverage for Survival, </font><font color="#222222" lang="EN" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">the contracts are grouped based on similar risks or when the insurance risk is managed jointly by the Administration.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The cash flows related to future premiums not recorded in the PPNG were only included in the projections when the result of the LAT without these values was negative.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The projected average loss ratio was 42% for individual and collective individuals, obtained from analysis based on triangles for the development of Company claims generated with information from January 2007.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The calculation of LAT made for the base date December 2017, considered the update of the assumption of Rate of Conversion into Income (TCR) of PGBL and VGBL pension plans. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The result of the liability adequacy test for life insurance was fully recognized in the income statement, as set out in SUSEP Circular No. 517/15 (note 35a). </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:12.0pt;">&#8226;</font><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Property Coverage</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The expected present value of cash flows relating to claims incurred - primarily claims costs and salvage recoveries - was compared to the technical provisions for claims incurred - PSL and IBNR.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The expected present value of cash flows relating to claims to be incurred on the policies in force, plus any administrative expenses and other expenses relating to products in run-off, was compared to the sum of the related technical provisions - PPNG and PPNG-RVNE.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The projected average loss ratio was 15.19% for the Extended Guarantee segment and 50.21% for the elementary lines, which were strongly influenced by the estimate of the future premium of the housing insurance portfolio, which is characterized by low loss ratio and long terms , since it accompanies the period of financing of the property.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The average reinsurance projected in the study, calculated on the basis of reported claims was 2.05%.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The result of the liability adequacy test, for property coverage, did not present insufficiency and, consequently, no additional PCC provisions were recorded.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923266" /><a name="_Toc474919317" /><a name="_Toc415565844" /><a name="_Toc415499823" /><a name="_Toc415498658" /><a name="_Toc415498534" /><a name="_Toc415498305" /><a name="_Toc413337833" /><a name="_Toc412626165" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.16</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; 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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867791760">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Estimates and judgments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfChangesInAccountingEstimatesAbstract', window );"><strong>Estimates and judgments [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory', window );">Estimates and judgments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923313" /><a name="_Toc318995520" /><a name="_Toc284885082" /><a name="_Toc176337463" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">4.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Estimates and judgments</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization makes estimates and judgments that can affect the reported amount of assets and liabilities within the next financial year including the assets and liabilities arising from the acquisition of HSBC Brasil. All estimates and judgments required in conformity with IFRS are best estimates undertaken in accordance with the applicable standard. Such estimates and judgments are continually evaluated and based in our historical experience and a number of other factors including future event expectations, regarded as reasonable, under the current circumstances. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The estimates and judgments that have a significant risk and might have a relevant impact on the amounts of assets and liabilities within the next financial year are disclosed below. The actual results may be different from those established by these estimates and premises.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Fair value of financial instruments</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial instruments recognized at fair value in our consolidated financial statements consist primarily of financial assets held for trading, including derivatives and financial assets classified as available for sale. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participant at the management date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These financial instruments are categorized within a hierarchy based on the lowest level of input that is significant to the fair value measurement. For instruments classified as level 3, we have to apply a significant amount of our own judgment in arriving at the fair value measurement. We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes. Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. 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</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Any delays in the receipt of information needed to evaluate loans or to confirm existing credit deterioration.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization uses models to assist analysis of the loan portfolio and in determining what impairment should be made. It applies statistical loss factors and other risk indicators to loan pools with similar risk characteristics to arrive at an estimate of incurred losses in the portfolio. Although the models are frequently revised and improved, they are by nature dependent on judgment in relation to &#160;the information and estimates. In addition, the volatility of the Brazilian economy is one of the factors that may lead to greater uncertainty in our models than would be expected in more stable macroeconomic environments. 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The first step of the process requires the identification of independent Cash-Generating Units and the allocation of goodwill to these units. The carrying amount of the CGU, including the allocated goodwill, is compared to its recoverable amount to determine whether any impairment exists. If the value in use of a cash-generating unit is less than its carrying value, goodwill will be impaired. Detailed calculations may need to be carried out taking into consideration changes in the market in which a business operates (e.g. competitive activity, regulatory change). The value in use is based upon discounting expected pre-tax cash flows at a risk-adjusted interest rate appropriate to the operating unit, the determination of both requires one to exercise one&#39;s judgment. 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In general, our evaluation requires that we estimate future amounts of current and deferred taxes. Our assessment of the possibility that deferred tax assets are realized is subjective and involves assessments and assumptions that are inherently uncertain in nature. The realization of deferred tax assets is subject to changes in future tax rates and developments in our strategies. 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Further judgment is then required to determine the amount of benefit eligible for recognition in our consolidated financial statements.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In addition, we have monitored the interpretation of tax laws by, and decisions of, the tax authorities and Courts so that we can adjust any prior judgment of accrued income taxes. These adjustments may also result from our own income tax planning or resolution of income tax controversies, and may be material to our operating results for any given period. For additional information about income tax, see Note 17.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Technical insurance provisions</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance technical provisions (reserves) are liabilities representing estimates of the amounts that will become due at a future date, to or on behalf of our policyholders - see Note 2(o). Expectations of loss ratio, mortality, longevity, length of stay and interest rate are used. These assumptions are based on our experience and are periodically reviewed against industry standards to ensure actuarial credibility. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;margin-right:46.75pt;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent liabilities</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Provisions are regularly reviewed and constituted, where the loss is deemed probable, based on the opinion of the legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOperatingSegmentsExplanatory', window );">Operating segments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923314" /><a name="_Toc318995521" /><a name="_Toc284885083" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">5.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Operating segments</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization operates mainly in the banking and insurance segments. Our banking operations include operations in the retail, middle-market and corporate sectors, lease, international bank operations, investment bank operations and as a private bank. The Organization also conducts banking segment operations through its branches located throughout the country, in branches abroad and through subsidiaries as well as by means of shareholding interests in other companies. Additionally we are engaged in insurance, supplemental pension plans and capitalization bonds through our subsidiary, Bradesco Seguros S.A. and its subsidiaries.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The following segment information was prepared based on reports made available to Management to evaluate performance and make decisions regarding the allocation of resources for investments and other purposes. Our Management uses a variety of accounting information, which includes the proportional consolidation of affiliates and joint ventures. Accordingly, the information of the segments shown in the following tables was prepared in accordance with the specific procedures and other provisions of the Financial Institutions Accounting Plan and the total amounts, which correspond to the consolidated information, were prepared in accordance with IFRS, issued by the IASB .</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main assumptions for the segmentation of income and expenses include (i) surplus cash invested by the entities operating in insurance, supplemental pension and capitalization bonds are included in this segment, resulting in an increase in net interest income; (ii) salaries and benefits and administrative costs included in the insurance, supplemental pension and capitalization bonds segment consist only of cost directly related to these operations, and (iii) costs incurred in the banking operations segment related to the infrastructure of the branch network and other general indirect expenses have not been allocated between segments.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><a name="_Toc284885145" /><a name="_Toc284327648" /><a name="_Toc285697941" /><a name="_Toc289424823" /><a name="_Toc289782972" /><a name="_Toc284327649" /><a name="_Toc285697942" /><a name="_Toc289424824" /><a name="_Toc289782973" /><a name="_Toc284327650" /><a name="_Toc285697943" /><a name="_Toc289424825" /><a name="_Toc289782974" /><a name="_Toc284327651" /><a name="_Toc285697944" /><a name="_Toc289424826" /><a name="_Toc289782975" /><a name="_Toc284327652" /><a name="_Toc285697945" /><a name="_Toc289424827" /><a name="_Toc289782976" /><a name="_Toc284327653" /><a name="_Toc285697946" /><a name="_Toc289424828" /><a name="_Toc289782977" /><a name="_Toc284327654" /><a name="_Toc285697947" /><a name="_Toc289424829" /><a name="_Toc289782978" /><a name="_Toc284327655" /><a name="_Toc285697948" /><a name="_Toc289424830" /><a name="_Toc289782979" /><a name="_Toc284327656" /><a name="_Toc285697949" /><a name="_Toc289424831" /><a name="_Toc289782980" /><a name="_Toc284327657" /><a name="_Toc285697950" /><a name="_Toc289424832" /><a name="_Toc289782981" /><a name="_Toc284327658" /><a name="_Toc285697951" /><a name="_Toc289424833" /><a name="_Toc289782982" /><a name="_Toc284327659" /><a name="_Toc285697952" /><a name="_Toc289424834" /><a name="_Toc289782983" /><a name="_Toc284327660" /><a name="_Toc285697953" /><a name="_Toc289424835" /><a name="_Toc289782984" /><a name="_Toc284327661" /><a name="_Toc285697954" /><a name="_Toc289424836" /><a name="_Toc289782985" /><a name="_Toc284327662" /><a name="_Toc285697955" /><a name="_Toc289424837" /><a name="_Toc289782986" /><a name="_Toc284327663" /><a name="_Toc285697956" /><a name="_Toc289424838" /><a name="_Toc289782987" /><a name="_Toc284327664" /><a name="_Toc285697957" /><a name="_Toc289424839" /><a name="_Toc289782988" /><a name="_Toc284327665" /><a name="_Toc285697958" /><a name="_Toc289424840" /><a name="_Toc289782989" /><a name="_Toc284327666" /><a name="_Toc285697959" /><a name="_Toc289424841" /><a name="_Toc289782990" /><a name="_Toc284327667" /><a name="_Toc285697960" /><a name="_Toc289424842" /><a name="_Toc289782991" /><a name="_Toc284327668" /><a name="_Toc285697961" /><a name="_Toc289424843" /><a name="_Toc289782992" /><a name="_Toc284327669" /><a name="_Toc285697962" /><a name="_Toc289424844" /><a name="_Toc289782993" /><a name="_Toc284327670" /><a name="_Toc285697963" /><a name="_Toc289424845" /><a name="_Toc289782994" /><a name="_Toc284327671" /><a name="_Toc285697964" /><a name="_Toc289424846" /><a name="_Toc289782995" /><a name="_Toc284327672" /><a name="_Toc285697965" /><a name="_Toc289424847" /><a name="_Toc289782996" /><a name="_Toc284327673" /><a name="_Toc285697966" /><a name="_Toc289424848" /><a name="_Toc289782997" /><a name="_Toc284327674" /><a name="_Toc285697967" /><a name="_Toc289424849" /><a name="_Toc289782998" /><a name="_Toc284327675" /><a name="_Toc285697968" /><a name="_Toc289424850" /><a name="_Toc289782999" /><a name="_Toc284327676" /><a name="_Toc285697969" /><a name="_Toc289424851" /><a name="_Toc289783000" /><a name="_Toc284327677" /><a name="_Toc285697970" /><a name="_Toc289424852" /><a name="_Toc289783001" /><a name="_Toc284327678" /><a name="_Toc285697971" /><a name="_Toc289424853" /><a name="_Toc289783002" /><a name="_Toc284327679" /><a name="_Toc285697972" /><a name="_Toc289424854" /><a name="_Toc289783003" /><a name="_Toc284327680" /><a name="_Toc285697973" /><a name="_Toc289424855" /><a name="_Toc289783004" /><a name="_Toc284327681" /><a name="_Toc285697974" /><a name="_Toc289424856" /><a name="_Toc289783005" /><a name="_Toc284327682" /><a name="_Toc285697975" /><a name="_Toc289424857" /><a name="_Toc289783006" /><a name="_Toc284327683" /><a name="_Toc285697976" /><a name="_Toc289424858" /><a name="_Toc289783007" /><a name="_Toc284327684" /><a name="_Toc285697977" /><a name="_Toc289424859" /><a name="_Toc289783008" /><a name="_Toc284327685" /><a name="_Toc285697978" /><a name="_Toc289424860" /><a name="_Toc289783009" /><a name="_Toc284327686" /><a name="_Toc285697979" /><a name="_Toc289424861" /><a name="_Toc289783010" /><a name="_Toc284327687" /><a name="_Toc285697980" /><a name="_Toc289424862" /><a name="_Toc289783011" /><a name="_Toc284327688" /><a name="_Toc285697981" /><a name="_Toc289424863" /><a name="_Toc289783012" /><a name="_Toc284327689" /><a name="_Toc285697982" /><a name="_Toc289424864" /><a name="_Toc289783013" /><a name="_Toc284327690" /><a name="_Toc285697983" /><a name="_Toc289424865" /><a name="_Toc289783014" /><a name="_Toc284327691" /><a name="_Toc285697984" /><a name="_Toc289424866" /><a name="_Toc289783015" /><a name="_Toc284327692" /><a name="_Toc285697985" /><a name="_Toc289424867" /><a name="_Toc289783016" /><a name="_Toc284327693" /><a name="_Toc285697986" /><a name="_Toc289424868" /><a name="_Toc289783017" /><a name="_Toc284327694" /><a name="_Toc285697987" /><a name="_Toc289424869" /><a name="_Toc289783018" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Information by operating segment, reviewed by the Organization and corresponding to the years 2017, 2016 and 2015, is shown below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_DRE_Segmento_Atual" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEE7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEF7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEG7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,997,327</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,857,926</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,787,660</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,642,913</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,143,561</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">787,014</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,181,747)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,011,351</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,641,626</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,869)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,623,108</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(685,560)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,425</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">542,493</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">570,358</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gain / (loss) on held-to-maturity investments</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(54,520)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(54,520)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,422,957</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,422,957</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,694,228</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,595,041</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,624</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,801,893</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,895,929)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,035,094</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,860,835)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,261,590)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,589,077)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,402</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,723,265)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,175,352)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,391,439)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,684,330</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,882,461)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,555,033)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(393,618)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,380,083</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,568,568)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,282,411)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(889,065)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,119</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,133,357)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,170,315)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,263,199)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,265,028</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,168,486)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,664,801</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,976,782</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,383,565</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,025,148</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,497,268</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">217,035</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,162,069</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,193,817</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,387,673</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,743,559</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,289)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,156,153)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,385,514)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,274,780</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,037,664</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,002,159</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,314,603</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,272,962</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,812,425</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,003,977</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,089,364</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,818</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">225,239</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,818)</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">225,239</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">988,063,541</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">295,699,951</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(59,410,052)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,364,246</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,847,099</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,039</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">875,887,257</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">257,329,282</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,556,803)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,106,659,736</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Anterior" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,156,109</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,374,229</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,132,651</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,662,989</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,696,785</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">651,482</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,007,216)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,051</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,918,934</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,250,639</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,197</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,402,770</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,417,647)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">805,051</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(728,804)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,400)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,757</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,757</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,652,044</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,211,453</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(495,607)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,367,890</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,829,460)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,479,182</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,350,278)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,733,611)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,387,935)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,763</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,003,783)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,979,689)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,331,349)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,475</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,149,563)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,786,599)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(365,656)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,842</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,658,413)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,421,152)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">243,631</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">173,359</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,004,162)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(67,750,511)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,841,309)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,425,621</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(66,166,199)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and Share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,754,427</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,395,855</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,055,449</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,205,731</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,538,058</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,691</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,024)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,292,485</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,564,546</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,048,425</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,905,456</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,995,420)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,915,822)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,001,488)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,297,065</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,648,724</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,046,937</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,992,726</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,293,766</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,550,662</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,821</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,894,249</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,299</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,062</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,884)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,477</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">921,916,290</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,642,197</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,471,169</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,512,372</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,617</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,789</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">821,182,152</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,143,979</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(775,682)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,086,550,449</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Anterior2" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,934,849</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,973,694</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,727,499</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,636,042</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,195,003</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,497,890</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,872,223)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,820,670</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,199,397)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(627,343)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(425,315)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,252,055)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(370,947)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(353,679)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,816</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(671,810)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,523,095)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,523,095)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,496,147</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,497,505</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,093,439)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,515,125</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(371,141)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,949,455)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,479,985)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,758,833</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,721,152)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,103,515)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,217,211)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,679</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,058,047)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,076,913)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,137,706)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">492,649</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,721,970)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,752,946)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(321,462)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,405</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,942,003)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,726,387)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(963,525)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(298,641)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,988,553)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,139,746)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,639,904)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,347,925</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(58,431,725)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and Share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,103,333)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,346,805</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,832,060</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,075,532</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,047</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,865</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,139</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,051</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(745,286)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,513,670</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,835,199</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,603,583</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,621,169</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,192,918)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(793,929)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,875,883</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,320,752</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,041,270</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,237,905</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,874,609</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,215,765</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,042,532</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,132,906</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,274</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,987</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,262)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,999</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">894,579,942</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">209,789,872</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(77,666,292)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,026,703,522</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,479,642</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,255,326</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,357</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">804,576,173</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">188,809,573</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,596,986)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">935,788,760</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:46.35pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Our operations are substantially conducted in Brazil. Additionally, as of December 31, 2017, we have a branch in New York, one branch in Grand Cayman, and one branch in London, mainly to complement our banking services and assist in import and export operations for Brazilian customers. Moreover we also have subsidiaries abroad, namely: Banco Bradesco Argentina S.A. (Buenos Aires), Banco Bradesco Europe S.A. (Luxembourg), Bradesco North America LLC (New York), Bradesco Securities, Inc. (New York), Bradesco Securities UK Limited (London), Cidade Capital Markets Ltd. (Grand Cayman), Bradesco Securities Hong Kong Limited (Hong Kong), Bradesco Trade Services Limited (Hong Kong) and Bradescard Mexico, Sociedad de Responsabilidad Limitada (Mexico).</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">No income from transactions with a single customer or counterparty abroad represented 10% of the Organization&#39;s income in the period of 2017, 2016 and 2015.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">All transactions between operating segments are conducted on an arm&#39;s length basis, with intra-segment revenue and costs being eliminated in "Other operations, adjustments and eliminations". Income and expenses directly associated with each segment are included in determining business-segment performance.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of operating segments. [Refer: Operating segments [member]]</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net interest income<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestIncomeExplanatory', window );">Net interest income</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923324" /><a name="_Toc284885084" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">6.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net interest income</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Resultado_Liquido_Juros" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Resultado_Liquido_Juros" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,073,435</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,689,348</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,349,194</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers:</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Loans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,767,081</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,530,396</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,472,012</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Leasing transactions</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">254,009</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">343,626</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">444,502</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- For trading</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,684,574</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,576,526</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,982,927</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Available for sale</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,351,320</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,572,618</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,629,493</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Held to maturity</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,883,103</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,514,933</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,253,616</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pledged as collateral</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,268,934</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,739,202</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,270,191</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Compulsory deposits with the Central Bank</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,881,319</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,667,516</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,587,412</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial interest income</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,553</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,210</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,905</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,232,328</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">147,700,375</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,048,252</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar expenses</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Interbank deposits</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(152,550)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(127,617)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(74,814)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Funding in the open market</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,564,515)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,767,039)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,509,785)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Borrowings and onlending</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,068,552)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,865,411)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,092,184)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Savings accounts</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,730,457)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,712,509)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,450,258)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Time deposits</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,536,161)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,746,203)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,942,386)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,262,613)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,124,502)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,570,606)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,100,017)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,298,555)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,669,830)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,174,550)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,395,550)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,102,347)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(75,589,415)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(91,037,386)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(71,412,210)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,642,913</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,662,989</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,636,042</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest income. [Refer: Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net fee and commission income<br></strong></div></th>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFeeAndCommissionIncomeExpenseExplanatory', window );">Net fee and commission income</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923325" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">7.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net fee and commission income</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fee and commission income</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit cards</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,848,855</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,251,963</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,875,029</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current accounts</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,652,711</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,030,640</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,941,947</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collections</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,965,601</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,777,515</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,573,818</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Guarantees</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,570,522</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,438,409</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,265,356</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset management</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,463,469</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,079,653</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,054,424</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium management</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,526,660</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,278,753</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,040,109</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Custody and brokerage services</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">754,966</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">618,750</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">556,701</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Underwriting</font></i></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,219</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">733,530</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">540,879</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">409,267</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,639</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">382,427</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">755,558</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">758,235</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">626,183</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,087</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,856,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fee and commission expenses</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial system services</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,203)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,203)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,051</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,820,670</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of fee and commission income (expense). [Refer: Fee and commission income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830093408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as held for trading<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as held for trading [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTextBlock', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc284885085" /><a name="_Toc474923326" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">8.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net gains/(losses) on financial instruments classified as held for trading</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ganhos_Perdas_Ativos_Financ" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ganhos_Perdas_Ativos_Financ" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income securities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,862,617</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,654,959</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,174,739)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,426,160)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,887,800</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,267,748)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity securities</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,651</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">860,011</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,190,432</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,623,108</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,402,770</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,252,055)</font></b></p> </td> </tr> </table></div> <p 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830296528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as available for sale<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as available for sale [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleTextBlock', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc284885086" /><a name="_Toc474923327" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">9.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net gains/(losses) on financial instruments classified as available for sale</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ganhos_Perdas_Dispon_Venda" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ganhos_Perdas_Dispon_Venda" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income securities (1)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,963</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,918,595)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(346,032)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity securities (1)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">437,054</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">459,223</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(577,401)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dividends received</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,341</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,972</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,623</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">570,358</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,400)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(671,810)</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale [Abstract].</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale.</p></div>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923329" /><a name="_Toc284885089" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">11.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net income from insurance and pension plans</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Result_Seguros_Previdencia" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Result_Seguros_Previdencia" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Written premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,864,591</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,470,571</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,920,681</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Supplemental pension plan contributions</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,090,043</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,679,922</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,795,219</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Granted coinsurance premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49,715)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(70,862)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(88,612)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refunded premiums</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(667,196)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(746,244)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(522,309)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net written premiums earned</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,237,723</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,333,387</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,104,979</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reinsurance premiums paid</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(191,088)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(306,265)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(344,199)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums retained from insurance and pension plans</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,046,635</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,027,122</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,760,780</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the provision for insurance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,435,868)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,729,884)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,528,076)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the provision for private pension plans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,369,903)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,052,034)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,757,963)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the technical</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;"> provisions for insurance and pension plans</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(34,805,771)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,781,918)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,286,039)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reported indemnities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,924,687)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,877,804)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,658,594)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Claims expenses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,068)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(119,201)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,599)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of ceded coinsurance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,332</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,285</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,053</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of reinsurance</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,913</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,711</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">407,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salvage recoveries</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">488,057</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">451,930</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">402,718</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the IBNR provision</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(274,509)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(204,354)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(892,816)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retained claims</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,594,962)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,542,433)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,724,043)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commissions on premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,700,131)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,696,002)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,985,426)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of commissions</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,334</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,927</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,700</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fees</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(403,835)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(489,279)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,201,216)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage expenses - private pension plans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(153,552)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,654)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(188,037)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in deferred commissions</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,728)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224,000)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,786</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Selling expenses for insurance and pension plans</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,405,912)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,547,008)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,253,193)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,497,505</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans [Abstract].</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Impairment of loans and advances<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesTextBlock', window );">Impairment of loans and advances</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">12.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <a name="_Toc474923330" /></font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Impairment of loans and advances</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment losses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,780,383)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,357,042)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,527,976)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of credits charged-off as losses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,034,857</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,507,507</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,144,879</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversal of impairment</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,884,691</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,499,257</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">661,945</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,860,835)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,350,278)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,721,152)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances [Abstract].</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Personnel expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923331" /><a name="_Toc284885091" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">13.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Personnel expenses</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Despesas_de_Pessoal" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Despesas_de_Pessoal" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salaries</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,170,556)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,236,617)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,369,727)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefits</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,385,133)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,625,796)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,994,155)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social security charges</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,505,290)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,862,067)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,402,112)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employee profit sharing</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,572,472)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,451,310)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,304,958)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for labor claims</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(927,136)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(663,124)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(853,660)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Training</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(162,678)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(164,869)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(133,435)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,723,265)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,003,783)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,058,047)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes the effects of the Special Voluntary Termination Plan (Note 43).</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other administrative expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923332" /><a name="_Toc284885092" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">14.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other administrative expenses</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outras_Desps_Adiministrativas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outras_Desps_Adiministrativas" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outsourced services</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,748,308)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,871,194)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,139,058)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Communication</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,684,153)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,653,055)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,427,685)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,117,085)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,612,454)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,222,433)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Advertising and marketing</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(942,851)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,124,659)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(963,308)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset maintenance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,158,840)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,060,856)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(926,001)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial system</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,033,017)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,047,618)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(830,199)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rental</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,142,166)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,027,561)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,412)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and surveillance</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(818,221)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(736,547)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(606,292)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transport</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(782,444)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,842)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(631,085)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Water, electricity and gas</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(405,515)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(384,069)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(339,267)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Advances to FGC (Deposit Guarantee Association)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(418,670)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(355,540)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(303,094)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Supplies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(263,527)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(321,509)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(315,135)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Travel</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(261,911)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(174,772)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(157,723)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,105,753)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,059,887)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(973,278)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,882,461)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,149,563)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,721,970)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of general and administrative expenses. [Refer: Administrative expenses]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Depreciation and amortization<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923333" /><a name="_Toc284885093" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">15.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Depreciation and amortization</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization expenses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,331,240)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,516,777)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,884,281)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation expenses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,237,328)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,141,636)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,057,722)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,568,568)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,658,413)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,942,003)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depreciation and amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depreciation and amortization.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830093408">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operating income/(expenses)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesAbstract', window );"><strong>Other operating income/(expenses) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory', window );">Other operating income/(expenses)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923334" /><a name="_Toc284885094" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">16.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other operating income/(expenses)</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Out_Receitas_Desp_Operacionais" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Out_Receitas_Desp_Operacionais" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax expenses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,960,618)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,331,651)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,791,754)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Legal provision</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,238,057)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,927,734)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,439,460)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Variation in monetary liabilities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,710</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(699,719)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(597,240)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income from sales of non-current assets, investments, and property and equipment, net</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(412,957)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(467,042)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(277,232)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,553,435)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,578,016)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,882,867)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,133,357)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,004,162)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,988,553)</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$&#160;(484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other operating income or expense. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6866460880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionAbstract', window );"><strong>Income tax and social contribution [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Income tax and social contribution</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923335" /><a name="_Toc284885095" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">17.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income tax and social contribution</font></b></h1> <p align="left" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Calculation of income tax and social contribution charges</font></b></p> <p align="left" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Demons_Calc_Enc_Contrib_Social" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Demons_Calc_Enc_Contrib_Social" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income tax and social contribution</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,743,559</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,905,456</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,603,583</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total burden of income tax and social contribution at the current rates (1)</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,684,602)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,357,455)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,321,612)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect of additions and exclusions in the tax calculation:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Earnings (losses) of associates and joint ventures</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">773,285</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">764,876</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">687,623</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest on shareholders&#39; equity (paid and payable)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,241,955</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,139,102</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,305,695</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net tax credit of deferred liabilities (2)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,341,220</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other amounts (3)</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">240,406</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,459,253)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,621,396</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution for the period</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effective rate</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27.1%</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.6%</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-89.9%</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;"> 13,169/15; and (iii) of 9% for the other companies (Note 2w);</font></p> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:106%;">&#160;</font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">13,169/15; and</font></p> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(3)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition of income tax and social contribution in the consolidated statement of income</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Comp_Result_Contrib_Social" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Comp_Result_Contrib_Social" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current taxes:</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution payable</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,788,060)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,852,947)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,075,948)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred taxes:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net Addition/(realization) of temporary differences</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,950,961</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,106,008)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,424,595</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Use of opening balances of:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(430,584)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(647,282)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(127,214)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax loss</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(331,512)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(879,276)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(65,224)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Addition on:</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,371</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">234,730</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">272,793</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,868</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">338,053</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">731,419</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Activation of the tax credit - Law No. 13,169/15:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">422,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Temporary additions</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,051,048</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax expense</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,359,104</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,059,783)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,710,270</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></b></p> </td> </tr> </table></div> <p align="left" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">c)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deferred income tax and social contribution presented in the consolidated statement of financial position</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Origem_dos_Creditos_Trib" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Origem_dos_Creditos_Trib" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount recorded</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Realized / Decrease (4)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions of impairment of loans and advances</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,011,653</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,264,028</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,771,818</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,503,863</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for contingencies</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,351,234</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,782,500</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,907,251</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,226,483</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,488,482</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,724,016</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,268,623</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,943,875</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,681,457</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,773,082</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,644,973</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,809,566</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total tax assets on temporary differences (3)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,532,826</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,543,626</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,592,665</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,483,787</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses in Brazil and abroad (3)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,595,729</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,239</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">762,096</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,872</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of available for sale (3)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,168</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">576,732</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,069,900</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax assets (2)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,621,723</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,290,597</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,424,661</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,487,659</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred tax liabilities (2)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,557,618</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">817,831</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,007,595</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net deferred taxes (2)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,353,915</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,732,979</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,606,830</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,480,064</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Origem_dos_Creditos_Trib_Anterior" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc474923337" /><a name="_Toc474919388" /><a name="IFRS_IR_Origem_dos_Creditos_Trib_Anterio" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (1)</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount recorded</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Realized / Decrease</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions of impairment of loans and advances</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,617,097</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,938,976</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,948,736</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,493,156</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,011,653</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for contingencies</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,720,598</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,209,685</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,498,218</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,077,267</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,351,234</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,090,939</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,501</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">282,741</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,994,699</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,488,482</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,511,581</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">440,457</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,135,635</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,406,216</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,681,457</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total tax assets on temporary differences (3)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,940,215</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,698,619</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,865,330</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,971,338</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,532,826</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses in Brazil and abroad (3)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,761,626</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">787,878</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">572,783</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,526,558</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,595,729</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of available for sale (3)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,704,484</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,120</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">393,369</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,636,805</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,168</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution - MP 2,158-35 (change in tax law)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,783</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,783</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax assets (2)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,520,108</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,518,617</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,831,482</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,248,484</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,621,723</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred tax liabilities (2)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,894,367</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,592</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,920,479</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,550,630</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net deferred taxes (2)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,625,741</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,515,025</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,911,003</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,697,854</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,353,915</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">HSBC Brasil (Note 2a);</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(3)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(4)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">d)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Prov_Reali_Cred_Trib" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Prov_Reali_Cred_Trib" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Temporary differences</font></b></p> </td> <td colspan="2" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses</font></b></p> </td> <td rowspan="3" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,189,592</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,778,522</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,668</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,794</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,429,576</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,106,611</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,500,573</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">143,705</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,058</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,830,947</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,444,841</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,163,487</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,825</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,361</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,826,514</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,408,140</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,609,808</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">620,279</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,041</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,005,268</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534,237</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,470,379</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">732,490</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">478,318</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,215,424</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">After 2022</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,100,881</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,176,716</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">824,042</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,078,291</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,179,930</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,784,302</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,699,485</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,009</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,385,863</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,487,659</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">e)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deferred tax liabilities</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Deferidos_Passivos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Deferidos_Passivos" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Timing differences of depreciation - finance leasing</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,232</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">381,119</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,215,588</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,404</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Judicial deposit and others</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,508,775</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,673,285</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,007,595</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></b></p> </td> </tr> </table></div> <p align="left" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;"><a name="_Toc474923342" /><a name="_Toc474919393" /><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The deferred tax liabilities of companies in the financial and insurance sectors were established considering the increased social contribution rate, established by Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;11,727/08 and Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;13,169/15 (Note 2x).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;margin-right:0pt;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">f)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income tax and social contribution on adjustments recognized directly in equity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_CS_Ajuste_Patrim_Liquido" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_CS_Ajuste_Patrim_Liquido" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="85%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="3" width="28%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets recorded as available for sale</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,418,567</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,231,202)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,187,365</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,298,103</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,587,076)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,711,027</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,677,902)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,273,982</font></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,403,920)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange differences on translations of foreign operations</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,010</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,992</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,002</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(194,566)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,555</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(107,011)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,485</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,788)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,697</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,441,577</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,225,210)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,216,367</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,103,537</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,499,521)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,604,016</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,559,417)</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,216,194</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,343,223)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">g)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Taxes to be offset</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;text-indent:32.2pt;"><a name="_Toc284885102" /><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Refers basically to amount of income tax and social contribution to be offset.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per share<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923343" /><a name="_Toc316896325" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">18.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Earnings per share</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <h1 align="left" style="margin-bottom:0in;margin-left:283.65pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-247.65pt;"><a name="_Toc474923344" /><a name="_Toc474919395" /><a name="_Toc415565912" /><a name="_Toc415499891" /><a name="_Toc415498726" /><a name="_Toc415498602" /><a name="_Toc415498373" /><a name="_Toc413337901" /><a name="_Toc412626233" /><a name="_Toc381783414" /><a name="_Toc379874134" /><a name="_Toc355707664" /><a name="_Toc351014049" /><a name="_Toc320264385" /><a name="_Toc318995740" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">1.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Basic earnings per share</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The calculation of basic earnings per share was calculated based on the weighted average number of common and preferred shares outstanding, as shown in the calculations below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016 (1)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015 (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net earnings attributable to the Organization&#39;s common shareholders (R$ thousand)</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,157,920</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,542,147</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,652,905</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net earnings attributable to the Organization&#39;s&#160; preferred shareholders (R$ thousand)</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,931,444</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,352,102</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,480,001</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted average number of common shares outstanding (thousands)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,991</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,991</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,050,156</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted average number of preferred shares outstanding (thousands)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,037,917</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basic earnings per share attributable to common shareholders of the Organization (in Reais)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.67</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.80</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.84</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basic earnings per share attributable to preferred shareholders of the Organization (in Reais)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.94</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.08</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.12</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&#39; Meeting&#160; of March 10, 2017, in the proportion of one new share for every 10 shares held.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <h1 align="left" style="margin-bottom:0in;margin-left:283.65pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-247.65pt;"><a name="_Toc474923345" /><a name="_Toc474919396" /><a name="_Toc415565913" /><a name="_Toc415499892" /><a name="_Toc415498727" /><a name="_Toc415498603" /><a name="_Toc415498374" /><a name="_Toc413337902" /><a name="_Toc412626234" /><a name="_Toc381783415" /><a name="_Toc379874135" /><a name="_Toc355707665" /><a name="_Toc351014050" /><a name="_Toc320264386" /><a name="_Toc318995741" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">2.</font></b><b><font color="black" 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and cash equivalents<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">19.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Cash and cash equivalents<a name="_Toc474923347" /><a name="_Toc474919398" /><a name="_Toc415565915" /><a name="_Toc415499894" /><a name="_Toc415498729" /><a name="_Toc415498605" /><a name="_Toc415498376" /><a name="_Toc413337904" /><a name="_Toc412626236" /><a name="_Toc381783417" /><a name="_Toc379874137" /><a name="_Toc355707667" /><a name="_Toc351014052" /><a name="_Toc285698392" /><a name="_Toc285642873" /><a name="_Toc285538739" /><a name="_Toc284885104" /><a name="_Toc284697610" /><a name="_Toc320264388" /><a name="_Toc318995743" /><a name="_Toc316896328" /><a name="_Toc312767294" /><a name="_Toc289782477" /></font></b></h1> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></h1> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a) Cash and balances with banks</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Caixa_Disp_em_Bancos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Caixa_Disp_em_Bancos" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in domestic currency</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,939,852</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,432,290</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in foreign currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,088,498</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,085,650</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Compulsory deposits with the Central Bank (1)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,714,226</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,036,531</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">180</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><a name="_Toc176337481" /><a name="_Toc474923348" /><a name="_Toc474919399" /><a name="_Toc415565916" /><a name="_Toc415499895" /><a name="_Toc415498730" /><a name="_Toc415498606" /><a name="_Toc415498377" /><a name="_Toc413337905" /><a name="_Toc412626237" /><a name="_Toc381783418" /><a name="_Toc379874138" /><a name="_Toc355707668" /><a name="_Toc351014053" /><a name="_Toc320264389" /><a name="_Toc318995744" /><a name="_Toc316896329" /><a name="_Toc312767295" /><a name="_Toc289782478" /><a name="_Toc285698393" /><a name="_Toc285642874" /><a name="_Toc285538740" /><a name="_Toc284885105" /><a name="_Toc284697611" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Cash and cash equivalents</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Caixa_Equivalente_de_Caixa" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Caixa_Equivalente_de_Caixa" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in domestic currency</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,939,852</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,432,290</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in foreign currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,088,498</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,085,650</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments (1)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,025,717</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,712,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">180</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">156,054,442</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,230,427</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:.3pt;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923349" /><a name="_Toc284885108" /><a name="_Toc176337478" /><a name="_DV_M1035" /><a name="_DV_M1036" /><a name="_DV_M1037" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">20.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial assets and liabilities held for trading</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a) Financial assets held for trading</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">202,249,272</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,103,399</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,348,269</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,600,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,339,790</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,383,682</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,303,781</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of up to one year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,617,538</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,002,911</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of one to five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,527,365</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,589,655</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of five to 10 years</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,763,561</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,299,698</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of over 10 years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,409,723</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,537,358</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity not stated</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,391,854</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,710,224</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial instruments provided as collateral and classified as "held for trading&#8221;, totaled R$ 801,182&#160;&#160; thousand and R$ 6,282,141 thousand in 2017 and December 2016, respectively, as disclosed in Note 23 "Financial assets pledged as collateral&#8221;. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The total assets held for trading pledged as a guarantee of liabilities was R$ 5,874,620 thousand (December 2016 - R$&#160;</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">5,846,093</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Unrealized gains/(losses) on securities and trading securities totaled R$ (4,745,888) thousand in 2017 (2016 - R$ (9,404,052) thousand and 2015 - R$ R$ 7,425,562 thousand). Net variation in unrealized gains/(losses) from securities and trading securities totaled R$ (4,658,164) thousand in 2017 (2016 - R$ (1,978,490) thousand and 2015 - R$ (8,303,360) thousand). </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Financial liabilities held for trading</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc176337480" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">c) Derivative financial instruments</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization enters into transactions involving derivative financial instruments with a number of customers for the purpose of mitigating their overall risk exposure as well as managing risk exposure. The derivative financial instruments most often used are highly-liquid instruments traded on the futures market (B3).</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(i)&#160;&#160;&#160; Swap contracts</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Foreign currency and interest rate swaps are agreements to exchange one set of cash flows for another and result in an economic exchange of foreign currencies or interest rates (for example fixed or variable) or in combinations (i.e. foreign currency and interest rate swaps). There is no exchange of the principal except in certain foreign currency swaps. The Organization&#39;s foreign currency risk reflects the potential cost of replacing swap contracts and whether the counterparties fail to comply with their obligations. This risk is continually monitored in relation to the current fair value, the proportion of the notional value of the contracts and the market liquidity. The Organization, to control the level of credit risk assumed, evaluates the counterparties of the contracts using the same techniques used in its loan operations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;(ii)&#160; Foreign exchange options</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Foreign exchange options are contracts according to which the seller (option issuer) gives to the buyer (option holder) the right, but not the obligation, to buy (call option) or sell (put option) on a certain date or during a certain period, a specific value in foreign currency. The seller receives from the buyer a premium for assuming the exchange or interest-rate risk. The options can be arranged between the Organization and a customer. 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The credit risk is minimal, since the future contracts are guaranteed in cash or securities and changes in the value of the contracts are settled on a daily basis. Contracts with a forward rate are interest-rate futures operations traded individually which require settlement of the difference between the contracted rate and the current market rate over the value of the principal to be paid in cash at a future date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;text-indent:-21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(iv)&#160; Forward transactions</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">A forward operation is a contract of purchase or sale, at a fixed price, for settlement on a certain date. Because it is a futures market, in which the purchase of the share will only be made on the date of maturity, a margin deposit is necessary to guarantee the contract. This margin can be in cash or in securities. The value of the margin varies during the contract according to the variation of the share involved in the operation, to the changes of volatility and liquidity, besides the possible additional margins that the broker could request.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading by the Organization is as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc474923350" /><a name="_Toc474919401" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Notional amounts</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset/(liability)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Futures contracts</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Interest rate futures</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,081,180</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,026,397</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,586</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,022</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,837,699</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,677,587</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(154,188)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,163)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,376,597</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,399,904</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,243</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,238,635</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,690,018</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,003)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">163,224</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,291</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">162</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,772</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">967</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(114)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Options</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Interest rates</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,663,668</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,467,042</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,214</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">260,565</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,616,129</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,755,788</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(535,748)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(193,768)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,335,027</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,567,515</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">605,028</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,533</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,274,094</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,836,294</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(409,587)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(62,356)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">443,443</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,500</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,013</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">228,141</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,188)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,533)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Forward operations</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,372,477</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,633,033</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,019</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,599,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,947,271</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,036,706</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(358,995)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,088,041)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,020</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,911</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">497,987</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,586,061</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,522</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,588,245</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,138)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,581,169)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Swap contracts</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Asset position</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid 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style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate swaps</font></i></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,454,647</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,746,464</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets classified as held for trading. [Refer: Financial assets]</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830277040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets available for sale<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAvailableforsaleAssetsExplanatory', window );">Financial assets available for sale</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923351" /><a name="_Toc284885109" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">21.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial assets available for sale</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Financ_Disp_Venda" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Financ_Disp_Venda" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized gains</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized losses</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,822,760</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,881,077</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(422,079)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,281,758</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,875,928</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">836,715</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,734,013)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,978,630</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,251,066</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,142</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(236,355)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">719,494</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,326</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,693)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,210,554</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">175</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,182)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,302,834</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">620,896</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(885,923)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,182,636</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,535,331</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,305,245)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,484,065</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,323,156</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(609,193)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,198,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,821,686</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,011,275</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,690,253)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,142,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,626,211</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">121,745</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(188,913)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">395,626</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,319</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,731)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,966,872</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">389,291</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(538,602)</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,294,460</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,852,786</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,028,692)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Venda_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Venda_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,635,369</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,167,067</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,690,168</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,905,872</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,579,399</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,816,085</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,071,806</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,251,675</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 5 to 10 years</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,004,079</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,363,350</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,677,065</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,994,970</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over 10 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,660,955</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,028,413</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,888,549</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,148,476</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,302,834</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,966,872</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,182,636</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,294,460</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Financial instruments pledged as collateral and classified as available for sale, totaled R$ 59,482,796</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">thousand and R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">64,275,415 </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">thousand in 2017 and 2016, respectively, as disclosed in Note 23 "Financial Assets Pledged as Collateral".</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In 2017, the Organization maintained a total of R$ 4,391,259 thousand (2016 - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">5,517,516 </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">thousand) financial assets available for sale pledged as a guarantee for liabilities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">We have applied our policy for impairment testing described in Note 2(f)(viii)(b) and in 2017 there was objective evidence of loss registered in financial assets available for sale in the amount of R$ 1,729,039 thousand in 2017 (2016 - R$&#160;2,106,107 thousand and 2015 - R$ 424,522 thousand), included in Note 9.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p><span></span>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfAvailableforsaleAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of financial assets classified as available for sale. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfAvailableforsaleAssetsExplanatory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6866460880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments held to maturity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAbstract', window );"><strong>Financial assets pledged as collateral [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityTextBlock', window );">Investments held to maturity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923352" /><a name="_Toc284885110" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">22.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Investments held to maturity</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Invest_Mantidos_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Invest_Mantidos_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized gains</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized losses</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities:</font></b></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,738,940</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,442,844</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,489)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,175,295</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,259,564</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,092</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(421,874)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,963,782</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,614</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,194</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,568,936</font></b></p> </td> <td width="13%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(428,783)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities:</font></b></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,241,947</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,918,273</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(306,566)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,853,654</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,739,187</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,750</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,388,614)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,379,323</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,894</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">878</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,772</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,947,901</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,695,180)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Invest_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Invest_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,412</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,998</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,284,940</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,070,179</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,932,440</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,133,746</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 5 to 10 years</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,933,866</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,840,428</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,068,980</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,905,497</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over 10 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,757,900</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,206,666</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,000,608</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,215,506</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Financial instruments pledged as collateral and classified as held to maturity, totaled R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">431 </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">thousand in 2016, as disclosed in Note 23 - "Assets Pledged as Collateral".</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In 2017, the Organization maintained a total of R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">2,005</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> thousand (R$1,825 thousand in 2016) as investments held to maturity&#160;&#160; pledged as a guarantee for liabilities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">We applied our Impairment policy, described in Note 2(f)(viii)(b), and in 2017 there was objective evidence of loss in our investments held to maturity in the amount of R$ 54,520 thousand.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets pledged as collateral<br></strong></div></th>
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width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Cedidos_Garantia" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held for trading</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,182</font></b></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,282,141</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,182</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,282,141</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available for sale (1)</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,482,796</font></b></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,275,415</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,039,884</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,530,423</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">431</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">431</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments (2)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,975,173</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,286,577</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$&#160;557,974 &#160;thousand (2016 - R$ 1,443,642 thousand); and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold &#160;in a separate repurchase agreement.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied with. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans and advances to banks<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923354" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">24.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to banks</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emprest_Adiant_inst_Financeiras" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emprest_Adiant_inst_Financeiras" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Repurchase agreements</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,045,591</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">85,178,146</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans to financial institutions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,207,614</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,667,388</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,481)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,398)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:6.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923355" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">25.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to customers</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emprest_Adiant_Cliente" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emprest_Adiant_Cliente" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Working capital</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,700,584</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,390,890</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personal credit (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,570,146</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,255,740</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Housing loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,963,375</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,458,038</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financing and export</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,272,982</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,983,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending BNDES/Finame</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,655,666</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,816,560</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,568,984</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,407,733</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicle loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,741,298</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,699,948</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rural loans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,642,478</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,422,799</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Import</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,318,042</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,140,346</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for corporates</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,587,239</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,583,285</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receivable insurance premiums</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,301,472</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,517,932</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for individuals</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,582,020</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,209,637</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leasing</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,249,859</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,738,611</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,659,520</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,459,047</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total portfolio</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of net loans and advances to customers</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Allowance for loans and advances to customers</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Perdas_Emp_Adiant_Clientes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Perdas_Emp_Adiant_Clientes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,780,839</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,455,204</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,860,835</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,350,278</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of credits charged-off as losses</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,034,857</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,507,507</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,620,965)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,532,150)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,055,566</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,780,839</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Finance lease receivables</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-7.05pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to customers include the following finance lease receivables.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Arrend_Financeiros_Receber" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Arrend_Financeiros_Receber" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross investments in financial leases receivable:</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to one year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,118,286</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,418,546</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From one to five years</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,082,149</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,279,347</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,424</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,718</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment loss on finance leases</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(146,812)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(186,594)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net investment</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,047</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,552,017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net investments in finance leases:</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to one year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,034,188</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,300,659</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From one to five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,021,089</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,212,322</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over five years</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,770</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,036</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,047</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,552,017</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Non-current assets held for sale<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923356" /><a name="_Toc284885112" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">26.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Non-current assets held for sale</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Nao_Correntes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc176337484" /><a name="IFRS_Ativos_Nao_Correntes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets not for own use</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,250,380</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,262,126</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicles and similar</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,774</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">308,357</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Machinery and equipment</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,037</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,529</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,782</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,954</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The properties or other non-current assets received in total or partial settlement of the payment obligations of debtors are considered as non-operating assets held for sale in auctions, which normally occur in up to one year. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in associates and joint ventures<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsInAssociatesAndJointVenturesTextBlock', window );">Investments in associates and joint ventures</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div style="page:WordSection6;"> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923357" /><a name="_Toc284885113" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">27.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Investments in associates and joint ventures</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a.</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Breakdown of investments in associates and joint ventures</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Invest_Coligadas_Atual" width="100%" style="border-collapse:collapse;width:876.000000pt;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Invest_Coligadas_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="29" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="4" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A. (2)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,832,660</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,219,202</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">76,403,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,151,540</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,020,292</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,833,491</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,561,394</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,056,077</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.23%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.23%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">543,025</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,432</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,512,491</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,124,173</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,138,711</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">947,514</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,550,438</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197,846</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (3) (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.28%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.28%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">692,380</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,791</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,389,026</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,224,500</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">615,510</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,263,331</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,609,717</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,414</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Aquarius Participa&#231;&#245;es S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">263,630</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,070</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">242,617</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">532,707</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">237,305</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">38</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,878</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,649</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,637)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,588,848</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,283,453</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,565,394</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">726,468</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,432,770</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(113,185)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,781</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,530</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,871</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,394</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,305</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,320</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,185</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,498</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (3) (9)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,039</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">221,809</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,788</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,520</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,270</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,384</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tecnologia Banc&#225;ria S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">108,752</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,209</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">242,480</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">75,702</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">590,872</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">496,090</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534,235</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,973</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Swiss Re Corporate Solutions Brasil (Nota 43-5) (3)</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">40.00%</font></p> </td> <td colspan="3" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">40.00%</font></p> </td> <td colspan="3" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">463,400</font></p> </td> <td colspan="4" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,437)</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,178,209</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,511,924</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,411,600</font></p> </td> <td colspan="3" width="6%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">437,278</font></p> </td> <td colspan="3" width="6%" style="background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">490,079</font></p> </td> <td width="13%" style="background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(66,093)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gestora de Intelig&#234;ncia de Cr&#233;dito S.A. (Nota 43-1) (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,513</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,642)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,961</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,253</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,594</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,210)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,129</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,361</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,210,958</font></b></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,543,987</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,183,908</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,094,434</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,773,103</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,712,492</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,241,126</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,665,582</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A. (10)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">978,195</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">162,070</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">420,804</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,776,837</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,763</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,967</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,708</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">324,075</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,231</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,393</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">339,236</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">119,406</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">324,764</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,107</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,786</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(39)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,198</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,612</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,881</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(78)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,046,426</font></b></p> </td> <td colspan="4" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">174,424</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">762,238</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,855</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">421,529</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,848</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">180,042</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,783</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2017</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,946,146</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,992,289</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">89,194,631</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,720,340</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,421,168</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,014,365</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"><a name="_Toc176337485" /><a name="IFRS_Comp_Invest_Coligadas_Anterior" /> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="28" width="69%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" rowspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="28" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="2" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td colspan="2" rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108,743</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,204,520</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,699,378</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,654,621</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,004,712</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,167</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,007,233</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">662,460</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,668</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,484,793</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,828,133</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,238,221</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">844,876</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,185</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">646,823</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (3) (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">651,906</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,506</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,343,162</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,021,981</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">429,411</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,166,607</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,045,898</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,829</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Aquarius Participa&#231;&#245;es S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">263,632</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,640</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,233</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">538,267</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,474</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,286</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,922</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,325</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,041,309</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,243,442</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,980</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,251</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,517</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">247,475</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,390</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,890</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,642</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,246</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tecnologia Banc&#225;ria S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,543</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,232</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">193,546</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,117,398</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">499,341</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">406,459</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">686,800</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">292,862</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,789</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,024)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">171,823</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,780</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,755</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">330,985</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,335)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Empresa Brasileira de Solda El&#233;trica S.A. (3) (9)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,168</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,089,246</font></b></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,515,823</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,478,006</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,790,895</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,520,113</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,942</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,725,119</font></b></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,241,924</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">849,355</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,457</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,179</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,596,527</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,627</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,879</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">396,835</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,174</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,721</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">443,978</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,883</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">317,298</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,026</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,442</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,538</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,532</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">256</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(98)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (3) (8)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,227)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">913,532</font></b></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,902</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">799,695</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,600,410</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">428,457</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,161</font></b></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">414,179</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2016</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td colspan="2" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,277,701</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,391,305</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,948,570</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,942</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,908,280</font></b></p> </td> <td colspan="2" width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,656,103</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="30" width="70%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Invest_Coligadas_Anterior2" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="30" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td colspan="3" rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,302,071</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,043,743</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,755,540</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,806,140</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,199,287</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,696,767</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,386</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,472,355</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">658,949</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,165</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,922</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,768</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,639</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">785</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,144</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">673,650</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,642</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,262</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,124,788</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">268,829</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">299,033</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,408,157</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,845</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,206</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fidelity Processadora S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">254,785</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,312</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">450,267</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">402,702</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">332,997</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,546</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,412</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">130,248</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,377)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,227,947</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">563,950</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,140,656</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,834,551</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,886)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,735</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,660</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">203,030</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,487</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,986</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,590</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,247</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,197</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,357</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,101</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">206,315</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,146</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,533</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,177</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,492</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Empresa Brasileira de Solda El&#233;trica S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,954</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,769)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,151</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,161</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,519</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,499</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">115,874</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,774)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Integritas Participa&#231;&#245;es S.A. (3) (5)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,778</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,647</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">741,803</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,066</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">828</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,983</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,056,741</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,274,875</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,088,607</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,957,986</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,203,184</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,143,864</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,299,598</font></b></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,360,635</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">686,951</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">243,073</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,332</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,438,988</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,169</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,669</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">486,049</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,030</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,400</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">439,594</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,301</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">312,036</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,124</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,800</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,551</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">716</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">380,801</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,362</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">379,061</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">313,065</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,432</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (3) (8)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">52</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,013)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,920</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">278</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,095</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,790</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,026)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">758,584</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">253,176</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,046,647</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,454,929</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">838,361</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">487,648</font></b></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">506,255</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2015</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,051</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,135,254</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,412,915</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,041,545</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,143,879</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,787,246</font></b></p> </td> <td colspan="3" width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,866,890</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:0;"> <td width="29%"></td> <td width="1%"></td> <td width="1%"></td> <td width="5%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="13%"></td> <td><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:3.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:53.5pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Revenues from financial intermediation or services; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Brazilian company, services provider related to credit and debit cards and other means of payment. 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style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Initial balances</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">524,155</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">376,434</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Spin-off of associates (2)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(170,006)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,953</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(166,294)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income of associates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dividends/Interest on capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(802,662)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(655,920)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (4)</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(31,868)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(37,122)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,623</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,370)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Intelig&#234;ncia de Cr&#233;dito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito);</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Disposal partial sale of the IRB (Note 43-6);</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2016, the investment of Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito began to be consolidated after acquisition of 50% of the company; and </font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(4)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and equipment<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923358" /><a name="_Toc284885115" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">28.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Property and equipment</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;Composition of </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">property and equipment</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> by class</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Classe_Imobilizado_Uso" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Classe_Imobilizado_Uso" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Annual rate</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Accumulated depreciation</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4%</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,153,407</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(483,266)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,670,141</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,450,939</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,667,455)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,783,484</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communication systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">349,228</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(213,879)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,349</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,950,625</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,329,028)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,621,597</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,705</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(48,246)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,459</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial leasing of data processing systems</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,431,868</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,231,143)</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,200,725</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,405,492</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,973,017)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,153,351</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(454,426)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,187,160</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,314,715)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communication systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">325,835</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,974)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,504,229</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,067,981)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,436,248</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,639</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,034)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial leasing of data processing systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,229,513</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,047,016)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,182,497</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,514,262</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,117,146)</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Depreciation charges in 2017 amounted to R$ 1,237,328 thousand (2016 - R$ 1,141,636 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We enter into finance lease agreements as a lessee for data processing equipment, which are recorded as leased equipment in property and equipment. According to this accounting method, both the asset and the obligation are recognized in the consolidated financial statements and the depreciation of the asset is calculated based on the same depreciation policy as for similar assets. See Note 38 for disclosure of the obligation.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Change in </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">property and equipment</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> by class</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Liquida_Imob_Uso_Classe" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Liquida_Imob_Uso_Classe" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="7" width="66%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communications systems</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems (1)</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,745</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,888</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,777</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">754,606</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,134</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">947,314</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,926</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,645</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(53,151)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(86,592)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(323,217)</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,540)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(86,469)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(100)</font></p> </td> <td width="11%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(552,069)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(73,568)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,836)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,288)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(79,194)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,840)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(521,663)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,270)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(649,583)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,972)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,237,328)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,887</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,815</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,397)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,305</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,670,141</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,783,484</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,349</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,822,322</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,459</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">582,602</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">448,020</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,788,330</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,086</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,556,160</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,237</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,504,435</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (2)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">752,619</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">586,971</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">320,949</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,196</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,065</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,800</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,809</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">897</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">974,089</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,721</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,696,318</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,487</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,779,321</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,341)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,353)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(402,316)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,804)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(62,386)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,627)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(509,827)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,543)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,434)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,977)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,179)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(466,192)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,338)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(610,869)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,058)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,141,636)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,415</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(342,415)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,745</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;Includes financial lease of data processing systems; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;HSBC Brasil.</font></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible assets and goodwill<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsAndGoodwillExplanatory', window );">Intangible assets and goodwill</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923359" /><a name="_Toc284885116" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">29.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Intangible assets and goodwill</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;margin-left:32.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Change in intangible assets and goodwill by class</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Ativos_Intangiveis_Agio" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Ativos_Intangiveis_Agio" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill</font></b></p> </td> <td colspan="5" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible Assets</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisition of financial service rights (1)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Software (1)</font></i></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Customer portfolio (1)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,503,457</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,945,244</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,358,923</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,589</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions/(reductions)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,549,335</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,203,313</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,944)</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,743,704</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (3)</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,683)</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,683)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,000,894)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,327,456)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,000,234)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,656)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,331,240)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,051,898</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,790,418</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,358,689</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,989</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">723,526</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,260,033</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,639,825</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">709,463</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">76,788</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,409,635</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (2)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,349</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">288,826</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,840</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,773,545</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions/(reductions)</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">930,190</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,284,041</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">129,266</font></p> </td> <td width="12%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,343,497</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (3)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,374)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,374)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization</font></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(951,115)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,055,074)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(344,283)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(166,305)</font></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,516,777)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,503,457</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,945,244</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,358,923</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,589</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">HSBC Brasil; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Impairment losses were recognized in the consolidated statement of income, within &#8220;Other operating income/(expenses)&#8221;.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><a name="_Toc284885117" /><a name="_Toc474923360" /><a name="_Toc474919411" /><a name="_Toc415565927" /><a name="_Toc415499906" /><a name="_Toc415498741" /><a name="_Toc415498617" /><a name="_Toc415498388" /><a name="_Toc413337916" /><a name="_Toc381783429" /><a name="_Toc379874149" /><a name="_Toc355707679" /><a name="_Toc351014067" /><a name="_Toc320264403" /><a name="_Toc318995758" /><a name="_Toc316896343" /><a name="_Toc312767310" /><a name="_Toc289782494" /><a name="_Toc285698406" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Composition of goodwill by segment</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Agio_Por_Segmento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Agio_Por_Segmento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,651,347</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,651,347</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,966</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,966</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Cash Generation Units allocated to the banking segment and the insurance, pension and capitalization bonds segment are tested annually for impairment of goodwill. We did not incur any goodwill impairment losses in 2017,2016 and 2015.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The recoverable amount from the Banking Segment has been determined based on a value-in-use calculation. The calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate of 7.1% p.a. (7.6% p.a. in 2016). The forecast cash flows have been discounted at a rate of 13.6% p.a. 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsAbstract', window );"><strong>Other assets [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherAssetsExplanatory', window );">Other assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923361" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">30.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other assets</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outros_Ativos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outros_Ativos" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign exchange transactions (1)(4)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,279,327</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,455,821</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Debtors for guarantee deposits (2)(4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,840,698</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,372,044</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Negotiation and intermediation of securities (4)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,741,524</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,954,484</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trade and credit receivables (4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,016,225</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,813,144</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred acquisition cost (insurance) - Note 35f</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,108</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other debtors</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,736,743</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,781,206</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prepaid expenses</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,244,602</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,324,362</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income receivable (4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,841,709</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,575,698</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank and interdepartmental accounts</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,480,291</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">949,730</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,602,760</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,193,637</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,853,987</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,170,370</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution&#39;s domestic currency, resulting from exchange sale operations; </font></p> <p 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lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(4)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Financial assets are recorded at amortized cost.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other assets. [Refer: Other assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834692240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deposits from banks<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksAbstract', window );"><strong>Deposits from banks [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDepositsFromBanksExplanatory', window );">Deposits from banks</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923362" /><a name="_Toc284885118" /><a name="_Toc289782496" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">31.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deposits from banks</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><a name="_Toc176337489" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial liabilities called &#8220;Deposits from banks&#8221; are initially measured at fair value and, subsequently, at amortized cost, using the effective interest rate method.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by nature</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Demand deposits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,030,292</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">898,877</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank deposits</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,168,625</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">588,872</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Borrowings</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,521,713</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,165,415</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,769,294</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,030,587</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,662,682</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deposits from banks. [Refer: Deposits from banks]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830282400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deposits from customers<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDepositsFromCustomersExplanatory', window );">Deposits from customers</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923363" /><a name="_Toc284885119" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">32.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deposits from customers</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><a name="_Toc176337490" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial liabilities called &#8220;Deposits from customers&#8221; are initially measured at fair value and subsequently at amortized cost, using the effective interest rate method.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by nature </font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Recursos_de_Clientes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Recursos_de_Clientes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Demand deposits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,058,324</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,521,234</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Savings deposits</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,332,697</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,088,828</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Time deposits</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,617,424</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,137,867</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,747,929</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deposits from customers. [Refer: Deposits from customers]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Funds from securities issued<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundsFromSecuritiesIssuedTextBlock', window );">Funds from securities issued</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923364" /><a name="_Toc284885120" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">33.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Funds from securities issued</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by type of security issued and location</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Tipo_Papel_Emitido" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Tipo_Papel_Emitido" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Instruments Issued - Brazil:</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate credit notes</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,020,911</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,955,574</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Agribusiness notes</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,973,682</font></p> </td> <td width="18%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,116,292</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial bills</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,570,141</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">108,512,908</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,564,734</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,584,774</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities - Overseas:</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Euronotes (1)</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">634,549</font></p> </td> <td width="18%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,785,654</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities issued through securitization - (item (b))</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,606,322</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,286,342</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,240,871</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,071,996</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Structured Operations Certificates</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">368,485</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">445,168</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;(1)&#160;&#160; Issuance of securities in the foreign market to fund customers&#39; foreign exchange operations, export pre-financing, import financing and working capital financing, substantially in the medium and long terms. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><a name="_Toc176337491" /><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Securities issued through securitization</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Since 2003, the Organization uses certain arrangements to optimize its activities of funding and liquidity management by means of an Specific Purpose Entity (SPE). This SPE, which is called International Diversified Payment Rights Company, is financed with long-term bonds which are settled with the future cash flow of the corresponding assets, basically comprising current and future flow of payment orders sent by individuals and legal entities abroad to beneficiaries in Brazil for whom Bradesco acts as payor.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The long-term instruments issued by the SPE and sold to investors will be settled with funds from the payment orders flows. The Organization is required to redeem the instruments in specific cases of default or upon closing of the operations of the SPE.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The funds deriving from the sale of current and future payment orders flows, received by the SPE, must be maintained in a specific bank account until they reach a given minimum level.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We show below the amounts of the securities issued by the SPE, which appear in the &#8220;Funding from issuance of securities&#8221; line item:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="5" valign="bottom" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Date of Issue</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Nominal amount</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="11" width="42%" style="border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securitization of the future flow of payment orders received from abroad</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">06,3,2008</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">836,000</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,5,2017</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,183</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,12,2008</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,168,500</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,2,2019</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,524</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">698,551</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,12,2009</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">89,115</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,2,2020</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,594</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,487</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,8,2010</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">307,948</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,8,2017</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,938</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,9,2010</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,530</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,8,2017</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,810</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,11,2011</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,860</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,11,2018</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,068</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,989</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,11,2011</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">133,290</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,11,2021</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,678</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">177,095</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,12,2015</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,480</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,11,2022</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">330,311</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,110</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,12,2015</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,480</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,11,2020</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">318,934</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,662</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">02,2,2016</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">889,725</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,2,2021</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">871,260</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">872,710</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,3,2016</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">533,835</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,2,2021</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">521,953</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">522,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,998,763</font></b></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,606,322</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,286,342</font></b></p> </td> </tr> </table></div> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:382.7pt;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Prepaid.</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subordinated debt<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923365" /><a name="_Toc284885121" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">34.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Subordinated debt</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:39.1pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">a)</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Composition of subordinated debt</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Dividas_Subordinadas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:9.05pt;"> <td rowspan="2" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc289782503" /><a name="_Toc285698414" /><a name="_Toc285642893" /><a name="_Toc285538759" /><a name="_Toc284885124" /><a name="_Toc284697630" /><a name="_Toc311210604" /><a name="_Toc311128505" /><a name="_Toc312767387" /><a name="_Toc311210603" /><a name="_Toc311128504" /><a name="_Toc320264480" /><a name="_Toc318995835" /><a name="_Toc316896420" /><a name="_Toc351014073" /><a name="_Toc474923366" /><a name="_Toc474919417" /><a name="IFRS_Dividas_Subordinadas" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 - R$ thousand</font></p> </td> </tr> <tr style="height:9.05pt;"> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Original term in years</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Nominal amount</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">In Brazil:</font></b></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated CDB:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,000</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,303</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,200</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial bills:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017 (1)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,630,999</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,075,463</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,262,799</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,130,108</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,875,551</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,858</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,139</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,402</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017 (1)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,100</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,872</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,050</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,757</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,357</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,172,835</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,734</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,423,463</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,700</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,801</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,612</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,305,011</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,597,559</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,050,633</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,359,452</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,872</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,522,243</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024 (2)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,450</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,861</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,000</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">119,417</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">112,038</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,735</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,184</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,212</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,556</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,383</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,498</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,236</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,027</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,896</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,706,846</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,265,488</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,015,625</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">136,695</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,205</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">143,415</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025 (2)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,193,653</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,624,611</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,000</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,125</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,813</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,924</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,611</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,806</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">400,944</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">457,679</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">417,641</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,200</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,429</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,191</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,143</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,338</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">91,314</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">688,064</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,085</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,011,423</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">284,137</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,376</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,886</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2026</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">361,196</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">438,776</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,886</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2027 (2)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">258,743</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">273,498</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2026</font></p> </td> <td valign="bottom" width="8%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,400</font></p> </td> <td valign="bottom" width="13%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,271</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,001</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2027</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,046</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,996</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,566</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2028 (2)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,764</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,079</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Perpetual</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,000,000</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,004,967</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,015,870</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal in Brazil</font></b></p> </td> <td valign="bottom" width="8%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,541,679</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,155,877</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overseas:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,333,575</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,520,963</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,482,631</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,886,720</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,697,115</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,333,373</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,766,650</font></p> </td> <td valign="bottom" width="13%" style="background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,419,644</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,639,183</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal overseas</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,637,722</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,455,187</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total (3)</font></b></p> </td> <td valign="bottom" width="8%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></b></p> </td> <td valign="bottom" width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt transactions that matured in 2017; and </font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;"><a name="_Toc474923367" /><a name="_Toc474919418" /><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">New issuances of financial bills in 2017, referring to subordinated debt.</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:2.5pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:25.1pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">b)</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Net movement of subordinated debt</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;font-weight:normal;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="662" style="border-collapse:collapse;width:517.099976pt;"> <tr style="height:12.95pt;"> <td rowspan="2" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Initial balances</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064 </font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,282,936 </font></b></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution</font></p> </td> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,401,348 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Issuances</font></p> </td> <td width="16%" style="height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,594,610 </font></p> </td> <td width="14%" style="border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,787,207 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest</font></p> </td> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,100,017 </font></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,298,555 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments and other</font></p> </td> <td width="16%" style="height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,126,290)</font></p> </td> <td width="14%" style="border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,158,982)</font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401 </font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064 </font></b></p> </td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subordinated liabilities. [Refer: Subordinated liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DisclosureOfInsuranceTechnicalProvisionsAndPensionPlansTextBlock', window );">Insurance technical provisions and pension plans</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div style="page:WordSection10;"> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923371" /><a name="_Toc415498397" /><a name="_Toc284885127" /><a name="_Toc316896426" /><a name="_Toc289782506" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">35.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance technical provisions and pension plans</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:7.05pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by account</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnicas_por_Conta" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc320264487" /><a name="_Toc318995842" /><a name="_Toc316896428" /><a name="_Toc312767392" /><a name="_Toc289782508" /><a name="_Toc285698418" /><a name="_Toc285642897" /><a name="_Toc285538763" /><a name="_Toc284885128" /><a name="_Toc284697634" /><a name="IFRS_Prov_Tecnicas_por_Conta" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" valign="bottom" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance (1)</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and Pension (2)(3)</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current and long-term liabilities</font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mathematical reserve for unvested benefits</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,051,507</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">912,764</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,818,859</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">184,594,055</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,870,366</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">185,506,819</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mathematical reserve for vested benefits</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">265,727</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">210,855</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,367,712</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,989,482</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,633,439</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,200,337</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for claims incurred but not reported (IBNR)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,159,967</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,770,507</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,030,107</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,264,115</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,190,074</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,034,622</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Unearned premium reserve</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,068,716</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,265,155</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">567,369</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">574,544</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,636,085</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,839,699</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for unsettled claims</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,291,432</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,645,468</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,588,489</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,682,147</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,879,921</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,327,615</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for financial surplus</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">514,199</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,505</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">514,199</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,505</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other technical provisions</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,996,206</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,048,355</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,369,300</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,328,048</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,365,506</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,376,403</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total reserves</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) &#160;&#8220;Other technical provisions&#8221; - Insurance basically refers to the technical provisions of the &#8220;personal health&#8221; portfolio; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)&#160; Includes personal insurance and pension plans; and</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3) &#8220;Other technical provisions&#8221; - Life and Pension Plan mainly includes the &#8220;Reserve for redemption and other amounts to be settled&#8221;, &#8220;Reserve for related expenses&#8221;. </font></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">b)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by product</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnica_por_Produto" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Tecnica_por_Produto" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance </font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and Pension (1)</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,754,024</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,559,137</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,754,024</font></b></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,559,137</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto / Liability Insurance</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,156,847</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,126,232</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,156,847</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,126,232</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">DPVAT (Personal Injury Caused by Automotive Vehicles)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">506,161</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">471,288</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,100</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,944</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">509,261</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">474,232</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,018,884</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,336,759</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,018,884</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,336,759</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,523</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,447</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,523</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,447</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Free Benefits Generating Plan - PGBL</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,087,618</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,605,459</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,087,618</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,605,459</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Free Benefits Generating Life - VGBL</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,400,228</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,370,995</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,400,228</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,370,995</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provisions</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="#222222" lang="EN" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(1) Includes personal and pension insurance operations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">c)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by aggregated products</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnicas_Agregadas_Produto" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Tecnicas_Agregadas_Produto" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance - Vehicle, Elementary Lines, Life and Health</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,855,539</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,192,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance - Life with Survival Coverage (VGBL)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pensions - PGBL and Traditional Plans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,623,322</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pensions - Risk Traditional Plans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,864,524</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,418,926</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table></div> </div> <div style="page:WordSection11;"> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">d)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Changes in the insurance and pension technical provisions</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(i)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Segs_Planos_Trad_Riscos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Segs_Planos_Trad_Riscos" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,611,733</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,844,231</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) DPVAT insurance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(473,579)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(333,699)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal at beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,138,154</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,510,532</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,542,623</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,700,765</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of claims, benefits and redemptions</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,156,197)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,449,844)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">648,898</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,376,701</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Partial spin-off of large risk portfolio</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(961,513)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal at end of the period</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,211,965</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,138,154</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(+) DPVAT insurance</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">508,098</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,579</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,720,063</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,611,733</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(ii)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Insurance - Life with Survival Coverage (VGBL)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Segs_Vida_Cobertura_Sobrev" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Segs_Vida_Cobertura_Sobrev" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,248,597</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receipt of premiums net of fees</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,577,437</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,824,651</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of benefits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,758)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(47,379)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of redemptions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,985,242)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,674,828)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,468,401</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,660,738</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Others</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,956,372)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,040)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(iii)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Pensions - PGBL and Traditional Plans</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prev_PGBL_Planos_Trad_Renda" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prev_PGBL_Planos_Trad_Renda" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,848,112</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receipt of premiums net of fees</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,446,148</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,412,759</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of benefits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(759,949)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(696,056)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of redemptions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,962,505)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,438,351)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,656,452</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,808,394</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Others</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,314,352)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(377,330)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,623,322</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></b></p> </td> </tr> </table></div> </div> <div style="page:WordSection12;"> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">e)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Guarantees for the technical provisions</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Garantias_Provisoes_Tecnicas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc474923373" /><a name="_Toc474919424" /><a name="_Toc415565940" /><a name="_Toc415499919" /><a name="_Toc415498754" /><a name="_Toc415498630" /><a name="_Toc415498401" /><a name="_Toc413337930" /><a name="_Toc412626262" /><a name="_Toc381783444" /><a name="_Toc379874164" /><a name="_Toc355707699" /><a name="_Toc351014082" /><a name="_Toc320264490" /><a name="_Toc318995845" /><a name="_Toc316896431" /><a name="_Toc312767395" /><a name="_Toc289782512" /><a name="_Toc285698421" /><a name="_Toc285642900" /><a name="_Toc285538766" /><a name="_Toc284885131" /><a name="_Toc284697637" /><a name="_Toc289782511" /><a name="IFRS_Garantias_Provisoes_Tecnicas" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" valign="bottom" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and pension plans</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provisions</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Deferred acquisition cost PPNG reducers</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(138,780)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(237,104)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(138,780)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(237,104)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Portion corresponding to contracted reinsurance</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(153,137)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(947,159)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,123)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,191)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,260)</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(988,350)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Deposits retained at IRB and court deposits</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Receivables</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(925,999)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,068,329)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(925,999)</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,068,329)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Unearned premium reserve - Health and dental insurance (1)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,268,243)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,182,152)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,268,243)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,182,152)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Reserves from DPVAT agreements</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502,491)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(465,568)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502,491)</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(465,568)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">To be insured</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,844,905</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,952,776</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,241,912</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,945,705</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,086,817</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">211,898,481</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment fund quotas (VGBL and PGBL) (2)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,639,798</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,337,785</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,639,798</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,337,785</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment fund quotas (excluding VGBL and PGBL)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,076,006</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,164,637</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,639,087</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,273,027</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,715,093</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,437,664</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Government securities</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,011,657</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,882,012</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,608,194</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,187,009</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,619,851</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,069,021</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Private securities</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,203</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,287</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,338</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,440</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,541</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,727</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shares</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,227</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,325</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,716,401</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,728,856</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,719,628</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,731,181</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provision guarantees</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,109,093</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,142,261</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,767,818</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,696,117</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">246,876,911</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">220,838,378</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">The investment funds "VGBL" and "PGBL" were consolidated in the financial statements.</font></p> </div> <div style="page:WordSection13;"> <p style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">f)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Changes in deferred acquisition cost (insurance assets)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,945,238</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,586,888</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,940,226</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,250,844)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,135,220)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Partial spin-off of large risk portfolio</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,180)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,108</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">g)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Changes in reinsurance assets</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Ativos_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Ativos_Resseguro" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,194</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,144,506</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186,867</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">667,908</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(139,641)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(485,724)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovered insurance losses</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(259,433)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(173,908)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(411)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,790</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(754,362)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,378)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">219,214</font></b></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,194</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes the transfer of part of the operation of the large risk portfolio (Note 43).</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">h)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Claim information</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The purpose of the table below is to show the inherent insurance risk, comparing the insurance claims paid with their provisions. Starting from the year in which the claim was reported, the upper part of the table shows the changes in the provision over the years. The provision varies as more precise information concerning the frequency and severity of the claims is obtained. The lower part of the table shows the reconciliation of the amounts with the amounts presented in the financial statements.</font></p> </div> <div style="page:WordSection14;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance, Vehicle/RCF and Elementary Lines - Claims, gross reinsurance<sup>(1) </sup></font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sinistros_Brutos_de_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sinistros_Brutos_de_Resseguro" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for the claims:</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,482,979</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,152,371</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,058,559</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,414,674</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,647,298</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,134,409</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,020,829</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,708,479</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,160,984</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,821,255</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,481,275</font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,679,108</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,108,270</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,037,365</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,394,609</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,626,356</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,716</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,848,361</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,456,642</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,028,967</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,640,897</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,711,861</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,088,069</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,018,329</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,387,075</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,604,738</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,021,698</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,809,942</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,464,389</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,989,904</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,783,290</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,094,795</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,015,921</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,403,020</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,604,061</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,041,626</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,839,210</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,234</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,845,834</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,102,364</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,046,000</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,418,649</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,600,194</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,071,989</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,813,496</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,902,275</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,102,595</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,044,644</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,428,252</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,625,442</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,888,296</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,956,618</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,127,609</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,056,612</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,431,363</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,621,044</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,982,993</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,140,708</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,072,169</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,419,614</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,028,742</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,158,436</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,057,911</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,074,360</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,149,106</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,086,824</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,086,824</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,149,106</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,057,911</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,419,614</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,621,044</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,888,296</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,813,496</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,234</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,989,904</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,640,897</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,481,275</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,584,601</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,064,293)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,022,199)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,042,673)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,390,739)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,586,371)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,835,738)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,753,035)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,355,681)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,879,707)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,491,476)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,766,457)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,188,369)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outstanding Claims</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,531</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,907</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,238</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,875</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,673</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,558</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,461</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,553</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">110,197</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">149,421</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">714,818</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,396,232</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance, Vehicle/RCF and Elementary Lines - Claims, net reinsurance<sup>(1) </sup></font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><a name="IFRS_Sinistros_Liquidos_de_Resseguro" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sinistros_Liquidos_de_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for net claims for reinsurance:</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,049,408</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">859,651</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,791,249</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,260,194</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,440,426</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,804,706</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,815,311</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,523,133</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,805,260</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,661,006</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,443,486</font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,107,420</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">846,124</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,773,092</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,235,404</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,095</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,695,513</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,648,135</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,306,665</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,695,713</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,541,988</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,157,532</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">835,214</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,766,152</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,232,926</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,401,407</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,091</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,622,005</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,317,745</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,671,224</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,225,589</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">844,636</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,769,942</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,251,003</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,418,057</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,705,326</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,658,925</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,323,339</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,285,309</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">850,115</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,791,739</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,268,293</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,425,973</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,729,230</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,659,375</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,338,449</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,121</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,090</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,281,206</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,452,938</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,746,804</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,390,840</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">868,958</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,810,770</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,291,650</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,459,251</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,426,256</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">873,978</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,822,466</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,292,651</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,466,917</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">884,796</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,824,085</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,510,383</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">890,132</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,527,764</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,527,764</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">890,132</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,824,085</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,292,651</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,459,251</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,746,804</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,659,375</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,323,339</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,671,224</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,541,988</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,443,486</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,380,099</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,505,614)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(880,207)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,809,102)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,265,943)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,424,679)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,694,553)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,599,885)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,243,342)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,563,269)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,393,389)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,736,036)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,116,019)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liquid outstanding claims for reinsurance</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,150</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,925</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,983</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,708</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,572</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,251</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,490</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">79,997</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,955</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">148,599</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">707,450</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,264,080</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Life - Insurance claims, gross reinsurance<sup>(1) </sup></font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Vida_Sinistros_Liquidos_Resseguro" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" width="80%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="80%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for net claims for reinsurance:</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,987,288</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">987,998</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,062,753</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,185,750</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,403,227</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,448,969</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,509,781</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,536,697</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,653,008</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,741,563</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,771,294</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,004,988</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,000,730</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,082,779</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,274</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,386,518</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,431,243</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,491,911</font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,568,941</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,648,842</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,755,802</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,038,732</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,530</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,105,401</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,195,472</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,393,915</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,447,741</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,525,941</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,570,227</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,644,051</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,075,972</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,018,008</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,100,970</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,185,871</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,406,376</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,450,511</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,514,898</font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,495,266</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,079,897</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,017,316</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,109,079</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,198,856</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,406,472</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,454,750</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,516,747</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,081,301</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,015,902</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,119,669</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,198,607</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,009</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,459,181</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,086,778</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,017,807</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,118,181</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197,508</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,417,352</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,068,574</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,021,908</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,112,583</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,189,843</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,076,228</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,024,349</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,115,707</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,094,047</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,756</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,140,849</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,140,849</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,756</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,115,707</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,189,843</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,417,352</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,459,181</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,516,747</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,495,266</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,644,051</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,755,802</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,771,294</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,526,848</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,074,102)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,003,673)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,098,409)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,151,732)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,361,271)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,398,760)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,428,669)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,307,155)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,337,199)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,499,651)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,280,837)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,941,458)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liquid outstanding claims for reinsurance</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,747</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,083</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,298</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,111</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,081</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,421</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,078</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">188,111</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">306,852</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,151</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">490,457</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,585,390</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:40.8pt;margin-right:0in;margin-top:6.0pt;"><a name="_Toc381783445" /><a name="_Toc379874165" /><a name="_Toc355707700" /><a name="_Toc474923374" /><a name="_Toc474919425" /><a name="_Toc415565941" /><a name="_Toc415499920" /><a name="_Toc415498755" /><a name="_Toc415498631" /><a name="_Toc415498402" /><a name="_Toc413337931" /><a name="_Toc412626263" /><a name="IFRS_Vida_Sinistros_Liquidos_Resseguro" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) The claims table does not include the products </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health and Dental </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">insurance - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,906,361</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand, DPVAT insurance - R$&#160;</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,592</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand, Retrocession - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,722</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand and salvage and reimbursement estimates - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(163,923)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand.</font></p> </div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans<br></strong></div></th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAdditionalInformationAboutDefinedBenefitPlansExplanatory', window );">Supplemental pension plans</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923375" /><a name="_Toc284885132" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">36.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Supplemental pension plans</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco and its subsidiaries sponsor a private defined contribution pension for employees and directors, that allows financial resources to be accumulated by participants throughout their careers by means of employee and employer contributions and invested in an Exclusive Investment Fund (FIE). The Plan is managed by Bradesco Vida e Previd&#234;ncia S.A. and BRAM - Bradesco Asset Management S.A. DTVM is responsible for the financial management of the FIEs funds.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The Supplementary Pension Plan counts on contributions from employees and directors of Bradesco and its subsidiaries equivalent to at least 4% of their salary and, from the company, 5% of the salary, plus the percentage allocated to covers of risk benefits (invalidity and death). Actuarial obligations of the defined contribution plan are fully covered by the plan assets of the corresponding FIE. In addition to the plan, in 2001, participants who chose to migrate from the defined benefit plan are guaranteed a proportional deferred benefit, corresponding to their accumulated rights in that plan. For the active participants, retirees and pensioners of the defined benefit plan, now closed to new members, in run-off, the present value of the actuarial obligations of the plan is completely covered by collateral assets.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Banco Alvorada S.A. (successor from the spin-off of Banco Baneb S.A.) maintains defined contribution and defined benefit retirement plans, to the former employees of Baneb, through Funda&#231;&#227;o Baneb de Seguridade Social - Bases.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco sponsors both defined benefit and defined contribution retirement plans, through Caixa de Assist&#234;ncia e Aposentadoria dos Funcion&#225;rios do Banco do Estado do Maranh&#227;o (Capof), to employees originating from Banco BEM S.A.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco sponsors a defined benefit plan through Caixa de Previd&#234;ncia Privada Bec - Cabec, for former employees of Banco do Estado do Cear&#225; S.A.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">With the acquisition of HSBC Bank Brasil S.A. (current Kirton Bank S.A. - Banco M&#250;ltiplo), the open pension plan, which was offered to employees of that institution, in the modality of defined contribution, has been discontinued. From October 2016, the employees transferred can adhere to the Supplementary Pension Plan offered to the employees of Bradesco. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Kirton Bank S.A. - Banco M&#250;ltiplo, Kirton Capitaliza&#231;&#227;o S.A., Kirton Corretora de Seguros S.A., Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A. and Kirton Seguros S.A. sponsor a defined benefit plan called APABA to employees originating from Banco Bamerindus do Brasil S.A., and Kirton Administra&#231;&#227;o de Servi&#231;os para Fundos de Pens&#227;o Ltda. sponsors to its employees the Kirton Prev Benefits Plan (</font><i><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Plano de Benef&#237;cios Kirton Prev)</font></i><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">), both managed by MultiBRA - Pension Fund.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Banco Losango S.A., Kirton Bank S.A. - Banco M&#250;ltiplo and Credival - Participa&#231;&#245;es, Administra&#231;&#227;o e Assessoria Ltda. sponsor three pension plans for its employees, which are Losango I Benefits Plan - Basic Part (modality of defined contribution), Losango I - Supplementary Part and PREVMAIS Losango Plan (modality variable contribution), all managed by MultiBRA - Settlor - Multiple Fund.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco took on the obligations of Kirton Bank S.A. - Banco M&#250;ltiplo with regard to Life Insurance, Health Insurance Plans, and Retirement Compensation for employees coming from Banco Bamerindus do Brasil S.A. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco, in its overseas facilities, provides for its employees and administrators a pension plan, according to the norms established by the local authorities, that allows to accumulate financial resources throughout the professional career of the participant.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Expenses related to contributions made in the year ending December 31, 2017, totaled R$&#160;988,905&#160;thousand (2016 - R$&#160;584,438 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training. These expenses, including the aforementioned contributions, totaled the amount of R$&#160;5,594,368 thousand in the year ending December 31, 2017 (2016 - R$ 3,826,715 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="red" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Planos_Previdencia_Complementar" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc284885133" /><a name="IFRS_Planos_Previdencia_Complementar" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(i)&#160;&#160;&#160;&#160; Projected benefit obligations:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,141,393</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,162,005</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance from an acquired institution</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">761,119</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of current service</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,077)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest cost</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,980</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,595</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Participant&#39;s contribution</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,831</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Actuarial gain/(loss)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,624</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,762</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefit paid</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,042)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,842)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,323,338</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,141,393</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(ii)&#160;&#160;&#160; Plan assets comprise:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,872</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,047,782</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance from an acquired institution</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">883,858</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Expected earnings</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">423,546</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307,728</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Contributions received:</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employer</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,957</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,515</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employees</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,831</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefit paid</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,043)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,842)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,375,529</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,872</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(iii)&#160;&#160; Financial position:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Plans in deficit</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(149,571)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(130,293)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Plans in surplus</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,762</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,772</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net balance</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,191</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,521)</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;font-weight:normal;line-height:normal;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The net cost/(benefit) of the pension plans recognized in the consolidated statement of income includes the following components:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Custo_Beneficio_Pensao" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Custo_Beneficio_Pensao" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" width="15%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Projected benefit obligations:</font></b></p> </td> <td width="16%" style="background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="15%" style="background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="15%" style="background:white;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of service</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,077)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(579)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of interest on actuarial obligations</font></p> </td> <td width="16%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,980</font></p> </td> <td width="15%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,595</font></p> </td> <td width="15%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">133,385</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Expected earnings from the assets of the plan</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(227,360)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(174,937)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(120,960)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net cost/(benefit) of the pension plans</font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">806</font></b></p> </td> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,581</font></b></p> </td> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,846</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The accumulated obligations of the pension plans are included in &#8220;Other Liabilities&#8221;, in our consolidated statement of financial position.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><a name="_DV_C238" /><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Benefit obligations and net periodic benefit cost for the years 2017 and 2016 for our subsidiaries, were determined using the following assumptions:</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Obrig_Benef_Custo_Periodico" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Obrig_Benef_Custo_Periodico" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Discount rate (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.5% - 10% p.a. </font></p> </td> <td width="18%" style="border-top:solid windowtext 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style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11.1% p.a.</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Increase in salary levels</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.3% p.a.</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" 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color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Medium- to long-term expectations of the asset managers; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-14.15pt;"><font color="black" lang="EN-US" style="font-family:Symbol;font-size:11.0pt;">&#183;</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Public and private securities, with short to long-term maturities which represent a significant portion of the investment portfolios of our subsidiaries, the return on which is higher than inflation plus interest.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The assets of pension plans are invested in compliance with the applicable legislation (government securities and private securities, listed company shares and real estate properties) and the weighted-average allocation of the pension plan&#39;s assets by category is as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Alvorada Plan</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Bradesco Plan</font></b></p> </td> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Kirton Plan</font></b></p> </td> <td colspan="2" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Losango Plan</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset categories</font></b></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.7%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.9%</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.3%</font></p> </td> <td width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18.8%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income</font></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">92.7%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">93.1%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">90.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">91.3%</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></p> </td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">82.7%</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">81.2%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate</font></p> </td> <td width="11%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5.7%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5.3%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.6%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7%</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1%</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Below is the sensitivity analysis of the benefit plan obligations, showing the impact on the actuarial exposure (8.5 - 10.0% p.a.) assuming a 1 b.p. change in the discount rate:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sensib_Obrig_Planos_de_Beneficio" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="41%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sensib_Obrig_Planos_de_Beneficio" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Discount rate</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sensitivity Analysis</font></b></p> </td> <td width="20%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect on actuarial liabilities</font></b></p> </td> <td width="20%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect on the present value of the obligations</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="41%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9.5% - 11.0% p.a.</font></p> </td> <td width="19%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Increase of 1 p.p.</font></p> </td> <td width="20%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">reduction</font></p> </td> <td width="20%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(256,532)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="41%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7.5% - 9.0% p.a.</font></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Decrease of 1 b.p.</font></p> </td> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">increase</font></p> </td> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,154</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.25pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;font-weight:normal;line-height:normal;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of additional information about defined benefit plans necessary to meet the objectives of IAS 19. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 137<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_137&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions, contingent liabilities and contingent assets<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DisclosureOfProvisionsContingentLiabilitiesAndContingentAssetsTextBlock', window );">Provisions, contingent liabilities and contingent assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923376" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">37.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Provisions, contingent liabilities and contingent assets</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent assets</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent assets are not recognized in the financial statements. However, there are ongoing proceedings where the chance of success is considered probable, but of immaterial values, such as: a) Social Integration Program (PIS), Bradesco has made a claim to offset PIS against Gross Operating Income, paid under Decree-Laws n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;2,445/88 and n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;2,449/88, regarding the payment that exceeded the amount due under Supplementary Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;07/70 (PIS Repique); and b) other taxes, the legality and/or constitutionality of which is being challenged, where the decision may lead to reimbursement of amounts paid.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent liabilities and tax and social security obligations</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization is a party to a number of labor, civil and tax lawsuits, arising from the normal course of business.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Management recorded provisions based on their opinion and that of their legal counsel, the nature of the lawsuit, similarity to previous lawsuits, complexity and the courts standing, where the loss is deemed probable.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Management considers that the provision is sufficient to cover losses generated by the respective lawsuits.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Liability related to litigation is held until the conclusion to the lawsuit, represented by judicial decisions, with no further appeals or due to the statute of limitation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">I -</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Labor claims</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">These are claims brought by former employees and outsourced employees seeking indemnifications, most significantly for unpaid &#8220;overtime&#8221;, pursuant to Article 224 of the Consolidation of Labor Laws (CLT). In proceedings in which a judicial deposit is used to guarantee the execution of the judgment, the labor provision is made considering the estimated loss of these deposits. For proceedings with similar characteristics and for which there has been no official court decision, the provision is recorded based on the average calculated value of payments made for labor complaints settled in the past 12 months and for proceedings originating from acquired banks, with unique characteristics, the calculation and assessment of the required balance is conducted periodically, <a name="_DV_C157" />based on the updated recent loss history.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Overtime is monitored by using electronic time cards and paid regularly during the employment contract and, accordingly, the claims filed by former employees do not represent significant amounts.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">II -</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Civil proceedings</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">These are claims for pain and suffering and property damages, mainly relating to protests, returned checks, the inclusion of information about debtors in the credit restriction registry and the replacement of inflation adjustments excluded as a result of government economic plans. These lawsuits are individually controlled using a computer-based system and provisioned whenever the loss is deemed as probable, considering the opinion of Management and their legal counsel, the nature of the lawsuits, similarity with previous lawsuits, complexity and positioning of the courts.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Most of these lawsuits are brought to the Special Civil Court (JEC), in which the claims are limited to 40 times the minimum wage and do not have a significant impact on&#160; the Organization&#39;s financial position.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">There are a significant number of legal claims pleading alleged differences in adjustment for inflation on savings account balances due to the implementation of economic plans that were part of the federal government&#39;s economic policy to reduce inflation in the &#8216;80s and &#8216;90s. </font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Although Bradesco complied with the law and regulation in force at the time, these lawsuits have been recorded in provisions, taking into consideration the claims where the Bradesco is the defendant and the perspective of loss, which is considered after the analysis of each demand, based on the current decision of the Superior Court of Justice (STJ).</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In December 2017, with the mediation of the Attorney&#39;s General Office (AGU), the entities representing the bank and the savings accounts, entered into an agreement related to litigation of economic plans, with the purpose of closing these claims, in which conditions and schedule were established for savings accounts holders may to accede the agreement. This agreement was approved by the Federal Supreme Court (STF) on March 1, 2018, pending final decision of the approval decision. As this is a voluntary agreement, Bradesco is unable to predict how many savings account holders will choose to accept the settlement offer.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Note that, regarding disputes relating to economic plans, the Federal Supreme Court (STF) suspended the prosecution of all lawsuits on cognizance stage, until the Court issues a final decision on the right under litigation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">c)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Tax and social security obligations</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The Organization is disputing the legality and constitutionality of certain taxes and contributions in court, for which provisions have been recorded in full, although there is good chance of a favorable outcome, based on the opinion of Management and their legal counsel. The processing of these legal obligations and the provisions for cases for which the risk of loss is deemed as probable is regularly monitored in the legal court. During or after the conclusion of each case, a favorable outcome may arise for the Organization, resulting in the reversal of the related provisions. </font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The main cases are:</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Pension Contributions - R$ 1,466,469 thousand (R$ 1,385,456 thousand in 2016): official notifications related to the pension contributions on financial contributions in private pension plans, considered by the authorities to be compensatory sums subject to the incidence of pension contributions and to an isolated fine for not withholding IRRF on the financial contributions;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">INSS Autonomous Brokers - R$ 643,655&#160;thousand (R$ 901,171 thousand in 2016): The Bradesco Organization is questioning the charging of social security contribution on remunerations paid to third-party service providers, established by Supplementary Law No.&#160;84/96 and subsequent regulations/amendments, at 20.0% with an additional 2.5%, on the grounds that services are not provided to insurance companies but to policyholders, thus being outside the scope of such a contribution as provided for in item I, Article 22 of Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;8,212/91, as new wording in Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;9,876/99; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Times New Roman,serif;font-size:10.0pt;">-</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">INSS - Contribution to SAT - R$ 401,018 thousand (R$ 374,620 thousand in 2016): &#160;thousand: in an ordinary lawsuit filed by the Brazilian Federation of Banks - Febraban, since April 2007, on behalf of its members, is questioning the classification of banks at the highest level of risk, with respect to Work Accident Risk - RAT, which eventually raised the rate of the respective contribution from 1% to 3%, in accordance with Decree n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> 6,042/07; 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For this reason, the estimate has not been disclosed with relation to the specific year in which these lawsuits will be closed.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In 2017, the Organization adhered to the Special Tax Regularization Program (PERT), established by Provisional Measure (MP) No. 783/17, which provides for the settlement by means of payment and installment payment of its tax and social security obligations with the Brazilian Federal Revenue Service and the National Treasury Attorney-General&#39;s Office (PGFN) of debts due up to April 30, 2017, resulting in a negative net effect of R$241,141 thousand in the Consolidated statement of income. On October 24, 2017, the MP No. 783/17 was converted into Law No. 1396/17 and was amended; however, no relevant impacts on the Organization.</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In addition to this, Bradesco also adhered to the Incentivized Installment Payment Program (PPI-SP), Law No. 16,680/17 in order to promote the settlement of debts regarding such law as to taxable events occurred up to December 31,2016, resulting in the net negative effect of R$61,814 thousand.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">d)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Changes in other provision</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Outras_Provisoes" width="590" style="border-collapse:collapse;margin-left:42.55pt;width:450.799988pt;"> <tr style="height:14.15pt;"> <td rowspan="2" valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"><a name="IFRS_Mov_Outras_Provisoes" /> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" valign="bottom" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:2.85pt;margin-top:0in;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Labor</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Civil</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax and Social Security (1) (2)</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2016</font></b></p> </td> <td width="17%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,101,732 </font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,440 </font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,237 </font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Indexation charges</font></p> </td> <td width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">637,263 </font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">484,447 </font></p> </td> <td width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">500,719 </font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,002,559 </font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">830,642 </font></p> </td> <td width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(984,342)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments </font></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,186,758)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(971,966)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(114,246)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2017</font></b></p> </td> <td width="17%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,554,796 </font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,346,563 </font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,589,368 </font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2015</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,048,442</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,202,950</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,112,925</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Indexation charges</font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">454,045</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">409,236</font></p> </td> <td valign="bottom" width="16%" style="border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">705,036</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">876,816</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,310,333</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,236,705)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution <sup>(3)</sup></font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,684,370</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,997</font></p> </td> <td valign="bottom" width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">703,967</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments </font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(961,941)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,464,076)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,986)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2016</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,101,732</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,440</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,237</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">Mainly include legal liabilities;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Sa&#250;de subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">HSBC Brasil.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">e)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent liabilities classified as possible losses</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The Organization maintains a system to monitor all administrative and judicial proceedings in which the institution is plaintiff or defendant and, based on the opinion of legal counsel, classifies the lawsuits according to the expectation of loss. Case law trends are periodically analyzed and, if necessary, the related risk is reclassified. In this respect, contingent lawsuits deemed to have a possible risk of loss are not recorded as a liability in the financial statements. The main proceedings in this category are the following: a) 2006 to 2013 income tax and social contribution, relating to goodwill amortization being disallowed on the acquisition of investments, for the amount of R$ 6,264,741 thousand (R$ 5,894,504 thousand in 2016); b) Fines and disallowances of Cofins loan compensations, released after a favorable decision in a judicial proceeding, where the unconstitutionality of the expansion of the intended calculation base was discussed for revenues other than those from billing (Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> 9,718/98), in the amount of R$ 4,902,151 thousand (R$ 3,999,185 thousand in 2016); c) Leases companies&#39; Tax on Services of any Nature (ISSQN), total lawsuits correspond to R$&#160;2,394,087 thousand (R$ 2,398,185 thousand in 2016) which relates to the municipal tax demands from municipalities other than those in which the company is located and where, under law, tax is collected; d) IRPJ and CSLL deficiency note relating to disallowance of exclusions of revenues from the mark-to-market of securities from 2007 to 2013, differences in depreciation expenses, insufficient depreciation expenses, expenses with depreciation of leased assets, operating expenses and income and disallowance of tax loss compensation, in the amount of R$&#160;2,431,844 thousand (R$ 1,653,942 thousand in 2016); e) Notifications and disallowances of compensations of PIS and Cofins related to the unconstitutional extension of the basis of calculation intended for other income other than the billing (Law n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">o</font></u></sup><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> 9,718/98), from acquired companies, amounting to R$ 1,399,506 thousand (R$ 1,317,238 thousand in 2016); f) IRPJ and CSLL deficiency notice relating to the disallowance of loan loss deductions, for the amount of R$ 969,713 thousand (R$&#160;760,436&#160;thousand in 2016); and g) IRPJ and CSLL deficiency note, amounting to R$ 489,687 thousand (R$ 459,962 thousand in 2016) relating to profit of subsidiaries based overseas, for the calendar years of 2008 and 2009.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923377" /><a name="_Toc284885135" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">38.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other liabilities</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outros_Passivos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outros_Passivos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card transactions (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,163,066</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,717,936</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign exchange transactions (2)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,085,029</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,975,291</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loan assignment obligations</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,454,076</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,761,827</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,562,974</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,502,158</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities trading</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,317,155</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,569,881</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities for acquisition of assets - financial leasing (Note 38 a)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,212</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,649</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Third party funds in transit (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,211,038</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,068,452</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for payments</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,743,428</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,997,168</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sundry creditors</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,205,800</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,843,035</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social and statutory</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,524,457</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,631,237</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other taxes payable</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,466,306</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,980</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities for acquisition of assets and rights</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,480,777</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,452,568</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,745,506</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,853,333</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,816,824</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,965,515</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refers to amounts payable to merchants;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mainly refers to the institution&#39;s sales in foreign currency to customers and its right&#39;s in domestic currency, resulting from exchange sale operations; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:39.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Composition by maturity of financial leases and details of operating leases</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Arrend_Financ_Arrend_Operacionais" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Arrend_Financ_Arrend_Operacionais" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">564,337</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">578,965</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 2 years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,327</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375,073</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 2 to 3 years</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,548</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,611</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,212</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,649</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Total non-cancellable minimum future payments due on operating leases in 2017 are R$ 7,923,649 &#160;thousand, of which R$ 832,991 thousand is due within 1 year, R$ 3,325,401 thousand between 1-5 years and R$ 3,765,257 thousand with more than 5 years. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DisclosureOfEquityTextBlock', window );">Equity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923378" /><a name="_Toc284885136" /><a name="_Toc289782517" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">39.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Equity</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:76.55pt;text-indent:-76.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:1.0in;margin-right:0in;margin-top:0in;text-indent:-50.7pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Capital and shareholders&#39; rights</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:76.55pt;text-indent:-76.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">i.</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition of share capital in number of shares</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The share capital, which is fully subscribed and paid, is divided into registered shares with no par value.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016 (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,481,112</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,481,112</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,480,793</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,480,793</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,108,961,905</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,108,961,905</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Treasury (common shares)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,032,549)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,032,549)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Treasury (preferred shares)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,855,746)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,855,746)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total outstanding shares</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">ii.</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Changes in capital stock, in number of shares</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2015 (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,050,040,493</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,665,540</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shares acquired and not canceled</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(591,930)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(591,930)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2016 (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,448,563</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2017</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,448,563</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;(1) All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&#39; Meeting&#160; of March 10, 2017 in proportion of one new share for every 10 shares held.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" 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style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> 6,404/76, by issuing 504,872,885 new nominative-book entry shares, with no nominal value, whereby 252,436,456 are common and 252,436,429 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In the Extraordinary General Meeting of March 10, 2017, the approval was proposed by the Board of Directors to increase the capital stock by R$8,000,000 thousand, increasing it from R$51,100,000 thousand to R$59,100,000 thousand, with a bonus in shares, through the capitalization of part of the balance of the account &#8220;Profit Reserves - Statutory Reserve&#8221;, in compliance with the provisions in Article 169 of Law No. 6,404/76, by issuing 555,360,173 new nominative-book entry shares, with no nominal value, whereby 277,680,101 are common and 277,680,072 are preferred shares, attributed free-of-charge to the shareholders as bonus, to the ratio of 1 new share for every 10 shares of the same type that they own on the base date, and was approved by the Bacen on April 18, 2017.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">All of the shareholders are entitled to receive, in total, a mandatory dividend of at least 30% of Bradesco&#39;s annual net income, as shown in the statutory accounting records, adjusted by transfers to reserves. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Transactions with related parties</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div style="page:WordSection16;"> <h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923379" /><a name="_Toc284885137" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">40.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Transactions with related parties</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Related party transactions are carried out under conditions and at rates consistent with those entered into with third parties, when applicable, and effective on the dates of the operations. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main transactions with related parties are presented as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:10.2pt;"> <td rowspan="4" width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="8" valign="bottom" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:10.2pt;"> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Controllers (1)</font></b></p> </td> <td colspan="2" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and Jointly controlled companies (2)</font></b></p> </td> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Key Management Personnel (3)</font></b></p> </td> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td colspan="8" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">724,369</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,033,479</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">724,369</font></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,033,479</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,572</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,128</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,572</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,128</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">931,141</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,374,940</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,734</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,928</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,213</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,594</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,122,088</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,524,462</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,632,932</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,755,615</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">244,082</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">398,549</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,405,203</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">823,527</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,282,217</font></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,977,691</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social and statutory</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,275,419</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,770,149</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,275,419</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,770,149</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,827,877</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,704</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,827,877</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,704</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.05pt;"> <td rowspan="4" width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.05pt;"> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Controllers (1)</font></b></p> </td> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and Jointly controlled companies (2)</font></b></p> </td> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Key Management Personnel (3)</font></b></p> </td> <td colspan="3" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="7%" style="background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenues and expenses</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,059)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,129,931)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(78,813)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,671</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,814)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(426)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(84,818)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(108,333)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(88,344)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(931,206)</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,280,078)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,583)</font></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other revenues</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,381</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,286</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,070</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,381</font></p> </td> <td width="7%" style="height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,286</font></p> </td> <td width="7%" style="border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,070</font></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other expenses</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,652)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,391)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,160)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(289,100)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224,444)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(246,504)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(291,752)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(226,835)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(248,664)</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1) Cidade de Deus Cia. 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style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Beneficios_Curto_Prazo_Adm" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Beneficios_Curto_Prazo_Adm" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="3" valign="bottom" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salaries</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">456,262</font></p> </td> <td width="15%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,592</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,864</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">456,262</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,592</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,864</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Post-employment benefits</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Beneficios_Pos_Pagos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Beneficios_Pos_Pagos" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="3" valign="bottom" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Defined contribution supplementary pension plans</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,663</font></p> </td> <td width="17%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,250</font></p> </td> <td width="19%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">311,670</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,663</font></b></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,250</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">311,670</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:0in;margin-left:53.45pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization has no long-term benefits for the termination of employment contracts or for remuneration based on shares for its key management personnel.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other information</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Under current law, financial institutions are not allowed to grant loans or advances to:</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(i)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Officers and members of the advisory, administrative, fiscal or similar councils, as well as to their respective spouses and family members up to the<sup> </sup>second degree;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(ii)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Individuals or corporations that own more than 10% of their capital; and</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(iii)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Corporations in which the financial institution itself, any officers or administrators of the institution, as well as their spouses and respective family members up to the second degree own more than 10% of equity.</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:53.45pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Therefore, no loans or advances are granted by the financial institutions to any subsidiary, members of the Board of Directors or Board of Executive Officers and their relatives.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Equity participation </font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding in Bradesco:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="35%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="65%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="33%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common shares</font></p> </td> <td width="32%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.5%</font></p> </td> <td width="33%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.7%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred shares</font></p> </td> <td width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.0%</font></p> </td> <td width="33%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.1%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total shares (1)</font></b></p> </td> <td width="32%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> <td width="33%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.9%</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:77.4pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Section Disclosures<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=sect_Disclosures&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Off-balance sheet commitments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalCommitmentsAbstract', window );"><strong>Off-balance sheet commitments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCommitmentsExplanatory', window );">Off-balance sheet commitments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923380" /><a name="_Toc284885138" /><a name="_Toc279663415" /><a name="_Toc316896440" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">41.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Off-balance sheet commitments</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below summarizes the total risk represented by off-balance sheet commitments:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Itens_Nao_Registrados_BP" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Itens_Nao_Registrados_BP" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commitments to extend credit (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">203,927,816</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">237,019,535</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial guarantees (2)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,867,348</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,949,483</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Letters of credit for imports</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">294,229</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">329,015</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,089,393</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,298,033</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refers to guarantees mostly provided for Corporate customers.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial guarantees are conditional commitments for loans issued to ensure the performance of a customer in an obligation to a third party. There is usually the right of recourse against the customer to recover any amount paid under these guarantees. Moreover, we can retain cash or other highly-liquid funds to counter-guarantee these commitments.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The contracts are subject to the same credit evaluations as other loans and advances . Standby letters of credit are issued mainly to endorse public and private debt issue agreements including commercial paper, securities financing and similar transactions. The standby letters of credit are subject to customer credit evaluation by the management.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We issue letters of credit in connection with foreign trade transactions to guarantee the performance of a customer with a third party. These instruments are short-term commitments to pay the third-party beneficiary under certain contractual terms for the shipment of products. The contracts are subject to the same credit evaluation as other loans and advances.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830501968">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>New standards and amendments and interpretations of existing standards<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DisclosureOfNewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsTextBlock', window );">New standards and amendments and interpretations of existing standards</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc284885139" /><a name="_Toc474923381" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">42.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">New standards</font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> and amendments</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> and interpretations of </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">existing</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> standards </font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Standards, amendments and interpretations of existing standards in future periods</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">IFRS 9 replaces the guidance in IAS 39 - Financial Instruments: Recognition and Measurement. IFRS 9 is applied for financial instruments and will be adopted retrospectively on the effective date of the standard on January 1, 2018. IFRS 9 includes: (i) new models for the classification and measurement of financial instruments; (ii) measurement of expected credit losses for financial assets; and (iii) new requirements on hedge accounting. 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style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Stage 1: Financial instruments that do not present significant deterioration in credit quality;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Stage 2: Financial instruments that present significant deterioration in credit quality; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" 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Establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts within the scope of the Standard. The purpose of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts. This information provides a basis for accounting firm users to evaluate the effect that insurance contracts have on the Company&#39;s financial position, financial performance and cash flows. 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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830369552">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other information<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923382" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">43.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other information</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <ol start="1" type="1" style="margin-bottom:0in;margin-top:0in;"> <li style="text-align:justify;"><font lang="EN-US" style="font-family:Arial,sans-serif;">In June, 2017, Bradesco has signed definitive documents with Banco do Brasil S.A., Banco Santander (Brasil) S.A., Caixa Econ&#244;mica Federal and Ita&#250; Unibanco S.A., in order to create a holding company of credit intelligence ("GIC"), which will develop a database with the goal of adding, reconciling and handling database and credit-related information, of individuals and legal entities, which expressly authorize their inclusion in the database, as required by the applicable rules.</font><font lang="EN-US"> </font><font lang="EN-US" style="font-family:Arial,sans-serif;">The control of the company will be shared, with each party holding 20% of its capital. The necessary capital contribution occurred in July 2017.</font></li> </ol> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">2.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Unconsolidated structured entities are unconsolidated entities that the Organization does not control, but which have a contractual and non-contractual involvement, and provide variability of returns arising from the performance. The organization has an involvement with structured entities through management of investment funds and portfolios making management fees and consortium management.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The main unconsolidated structured entities are, (i) the investment funds managed by Organization, whose nature and involvement, generating management fees and investment in units for funds, the assets of managed funds and non consolidated in 2017 were R$&#160;338,846,142 thousand (2016 - R$&#160;426,390,575 thousand) and revenues earned in 2017 were R$&#160;1,463,469 thousand (2016 - R$&#160;1,079,653 thousand) and (ii) the consortium which nature and involvement is related to generation management fees of consortium quotas, represented by groups of quotaholders formed to aquire specific goods, whose assets in 2017 were R$&#160;74,323,031 thousand (2016 - R$ 71,075,119 thousand) and the revenues were in 2017 R$ 1,526,660 thousand (2016 - R$&#160;1,278,753&#160;thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">3.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In May, 2016, occurred the</font><font color="#222222" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">indictment of three members of its Bradesco&#39;s Executive Board of Directors by the Federal Police, in the scope of the so-called "Operation Zealots". On July, 2016, the Federal Public Prosecution filed an accusation against all three members of the Board of Executive Officers and a former member of its Board of Directors, which was received by the Judge of the 10th Federal Court of Judicial Section of the Federal District. The Management conducted a thorough internal evaluation of the records and documents related to the indictment and found no evidence of any illegality committed by its representatives. The executives of Bradesco have already submitted their respective </font><font color="#222222" lang="EN" style="font-family:Arial,sans-serif;font-size:10.0pt;">answers to the prosecution,</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> pointing out the facts and evidence demonstrating their innocence. The process has already had its investigation phase closed, now await the final allegations and sentence of the first degree trial. </font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In parallel to his defense, the Chairman of the Board of Executive Officers of Bradesco, Mr. Luiz Carlos Trabuco Cappi, presented a petition for habeas corpus to the Regional Federal Court (Tribunal Federal Regional) - 1st Region. After processing the motion for habeas corpus, the 4th Panel of the aforementioned Court, by unanimous decision, excluded him from criminal proceedings, due to lack of just cause. This procedure is under appeal to STJ (Superior Court of Justice). The same habeas corpus was extended to the former member of the Board of Directors, previously indicted.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Bradesco provided all the information requested to the competent regulatory bodies, in Brazil and abroad. Moreover, Bradesco was summoned by the General&#180;s Office of the Ministry of Finance on the filing of an Administrative Proceeding ("PAR"). This process, which is in the pre-trial phase, may entail the possibility of application of a fine and/or mention on public lists, which may eventually lead to restrictions on business with public agencies.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">On account of the news published in the media, on the indictment in the "Operation Zealots", a class action was filed in the District Court of New York, on June 3, 2016. On September 1, 2016, Bradesco spontaneously attended the proceedings of the Class Action and agreed with the plaintiff a term for the submission of the revocation of the suit until December 23, 2016. On October 21, 2016, the Plaintiff Leader presented the addendum of the Initial Petition, appointing as defendants Bradesco and three members of its Board of Executive Officers. According to the demand, investors who purchased preferred American Depositary Shares (&#8220;ADS&#8221;) of Bradesco between April 30, 2012 and July 27, 2016 would have suffered losses provoked by Bradesco due to a supposed violation regarding the American law of capital markets, according to communication to the Market on May 31, June 8 and July 28, 2016. On December 23, 2016, Bradesco filed a motion to dismiss the process, which - following a reply from the Lead Plaintiff and a rejoinder from Bradesco, and on September 29, 2017, the Judge decided the following: (i) the Court partially upheld and rejected the termination request, limiting the proposed class to investors who purchased American Depositary Shares ("ADS") Bradesco between August 8, 2014 and July 27, 2016; and (ii) the Court granted to the Lead Plaintiff a 30-day term to present an addendum to the initial request. After said term, on October 30, 2017, the Lead Plaintiff informed the Judge that it will not present any amendments. Thus, the demand will lead to the discovery phase, so the limitation of the aforementioned class would be maintained. Given the current phase of the demand, it is not possible to perform a risk analysis and, besides, there are no elements to support the assessment of the amount of said risk.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">4.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The wholly-owned subsidiaries of Bradesco, BEM - Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda. and BRAM - Bradesco Asset Management S.A. Distribuidora de T&#237;tulos e Valores Mobili&#225;rios, as well as two of its Managers, were mentioned in the scope of the so-called "Greenfield operation" of the Federal Police, because they were responsible for the administration and management of the Fund in Equity - FIP (Equity Investment Fund), respectively. Besides providing the documents, the Federal Court has ruled, in the course of this Operation, the blocking of these companies&#39; values. As a result of this, a Commitment was signed, approved by the 10th Federal Court of the Federal District, to release the values through the provision of guarantees of up to R$104 million, without the recognition of any civil or criminal liability on the part of companies or administrators of the Organization. In the scope of this commitment, managers and officers of the Organization committed to provide any clarifications to the authorities responsible for conducting this investigation, regardless of a formal subpoena.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">5.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In July 2017, Bradesco Seguros SA ("Bradesco Seguros") and Swiss Re Corporate Solutions Ltd. ("Swiss Re Corso") concluded the transaction, by means of a shareholder agreement, whereby: (i) Swiss Re Corporate Solutions Brasil Seguros S/A ("Swiss Re Corporate Solutions Brazil") took over part of the P&amp;C (Property and Casualty) insurance operations, such as, Aeronautical, Marine, Civil Liability and shipments from Bradesco Seguros ("Large Risks Insurance"), with exclusive access to Bradesco customers to explore the commercialization of Large Risks Insurance; and (ii) Bradesco Seguros held a 40% interest in Swiss Re Corporate Solutions Brasil represented by a total of 172,560,054 book entry shares, common and nominative in the amount of R$363,103 thousand, and 60% remained with Swiss Re Corso. The transaction was approved by the Private Insurance Superintendence (Susep), the Administrative Council for Economic Defense (Cade) and the Central Bank (Bacen). The association includes exclusive access to the distribution network of Bradesco Seguros, comprised of more than 140 branches, more than 4,700 branches of Banco Bradesco and approximately 40,000 registered brokers and insurance agents. As part of the transaction, approximately 120 large risk experts from Bradesco Seguros, in S&#227;o Paulo and Rio de Janeiro, joined Swiss Re Corporate Solutions Brasil Seguros S/A. The investment totals R$490,000 thousand, recorded by Bradesco Seguros S.A., includes goodwill on the acquisition of shares in the amount of R$126,897 thousand.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">6.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In May 2017, Bradesco - as an indirect holder of equity interest in IRB - announced to shareholders that had authorized IRB to submit: (i) application for registration as a publicly-held company and for authorization of initial public offering of IRB, pursuant to CVM Instructions 400/03 and 480/09; and (ii) application for registration of secondary public distribution of common shares issued by IRB, pursuant to CVM Instruction 400/03. In July 2017, Bradesco announced that the documents were filed in compliance with the requirements formulated by CVM in the context of the Secondary Public Offering of IRB&#39;s common shares and the closing of the bookbuilding procedure of the Offering, which defined the price per share at R$27.24. 14,040,000 shares were sold in the Base Offering and then the entire supplementary lot totaling 16,206,387 shares. Bradesco indirectly holds 47,520,213 shares and a 15.23% interest in the capital stock of IRB.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">7.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In July 2017, Bradesco launched a Special Voluntary Severance Program Scheme (PDVE), in which the Organization&#39;s employees who fulfilled the requirements established in the regulations of the respective plan may join. The deadline for joining the plan ended in late August 2017, with the adhesion of 7.4 thousand employees, and a total cost of R$2.3 billion. The estimated annual effect on personnel expenses is a reduction of R$1.5 billion.</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">44.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Subsequent events</font></b></h1> <p style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:32.2pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">1.</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In January 2018, Bradesco carried out credit assigned loans, already written off to loss, without retention of risks and benefits, with a face value of R$ 5,323,120 thousand, whose sale value was R$ 110,189 thousand.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:32.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:13.5pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory', window );">Risk Management</a></td>
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Thus, the methodology provides the basis not only for the correct pricing of operations, but also for defining the appropriate guarantees.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The methodology used also follows the requirements established by (CMN) Resolution 4,327/14 and includes analysis of social and environmental risk in projects, aimed at evaluating customers&#39; compliance with related laws and the Equator Principles, a set of rules that establish the minimum social and environmental criteria which must be met for lending.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In accordance with its commitment to the continuous improvement of methodologies, the credit risk rating of the Organization&#39;s economic groups/customers uses an eighteen-level scale, in which fourteen levels represent performing loan operations, ensuring greater compliance with the requirements of the Basel Capital Accord.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Risk ratings for economic groups (legal entities) are based on standardized statistical and judgmental procedures, and on quantitative and qualitative information. Classifications are carried out in a corporate manner and periodically monitored in order to preserve the quality of the credit portfolio.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">For individuals, in general, credit ratings are based on personal data variables, such as income, assets, restrictions and indebtedness, in addition to the history of their relationship with the Organization, and statistical credit evaluation models.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The risk classification adopted on the basis of the customers&#39; capacity of honoring their commitments is shown below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Classif_Risco_Credito" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:7.1pt;"> <td width="47%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Classif_Risco_Credito" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Internal Rating</font></i></b></p> </td> <td width="14%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Organization classification</font></b></p> </td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">AA1</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">AA2</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">AA3</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">A1</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">A2</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td colspan="2" width="26%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Low risk</font></p> </td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">A3</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">B1</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td colspan="2" width="26%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">B2</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">B3</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">C1</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">C2</font></p> </td> <td width="14%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="top" width="13%" style="height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:7.1pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:7.1pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font 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This electronic system provides both a macro-level and detailed view of the information, and also enables a specific loan operation to be viewed. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The information is viewed and delivered via dashboards, allowing queries at several levels such as business segment, divisions, managers, regions, products, employees and customers, and under several aspects (asset, delinquency, provision, write-off, restriction levels, guarantees, portfolio quality by rating, among others).</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc285698348" /><a name="_Toc285642829" /><a 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cellpadding="0" cellspacing="0" title="IFRS_Exposicao_Risco_Credito" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Exposicao_Risco_Credito" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">599,199,362</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">497,974,002</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total items recorded in the balance sheet (1)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,100,876,068</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,074,213,502</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total items not recorded in the balance sheet (Note 41)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,089,393</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,298,033</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total risk exposure</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,383,965,461</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,390,511,535</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The Organization&#39;s maximum credit risk exposure was R$ 1,383,965,461 &#160;thousand in 2017, which was an reduction of 0.5% compared to 2016.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Of this exposure, R$ 81,742,951 thousand, or 5.9% is related to cash and bank deposits composed mainly of funds deposited with the Central Bank of Brazil that are assessed to have low credit risk.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Operations classified as &#8220;Other financial assets&#8221; item totaling R$ 599,199,362 thousand (43.3% of the total exposure), have a low credit risks as it primarily consists of Brazilian government bonds which, are recorded at their market value, represented by &#8220;Financial assets held for trading&#8221; R$ 241,710,041 thousand (2016 - R$ 213,139,846&#160; thousand), &#8220;Financial assets available for sale&#8221; R$ 159,412,722 thousand (2016 - R$ 113,118,554 thousand) and &#8220;Investments held to maturity&#8221; recognized as amortized cost in the amount of R$ 39,006,118 thousand (2016 - R$&#160;43,002,028 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In 2017, items not recorded in the consolidated statement of financial position (recorded in off-balance sheet accounts) amounted to R$ 283,089,393 thousand (2016 - R$ 316,298,033 thousand), reaching a level of 20.5% (2016 - 22.6%) of total exposure. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The following provides a detailed analysis of other exposures subject to credit risk totaling R$&#160;419,933,755 thousand, representing 30.3% of the total exposure, including derivatives of R$&#160;13,866,885 thousand, loans and advances to banks of R$ 32,253,205 thousand and loans and advances to clients of R$ 373,813,665 thousand.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Derivative Financial Instruments</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Inst_Financeriros_Derivativos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Inst_Financeriros_Derivativos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Traded in the stock exchange</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,120</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,068,418</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">OTC contract</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,778,765</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,687,024</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">relation to derivatives, 99.4% of the total, refers basically to over-the-counter contracts, stock exchange depositories. </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Of the total of the Derivative financial instruments, 93.0% is assessed to have "low credit risk"</font><i><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> </font></i><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">by the Organization&#39;s internal procedures.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc474923290" /><a name="_Toc474919341" /><a name="_Toc415565868" /><a name="_Toc415499847" /><a name="_Toc415498682" /><a name="_Toc415498558" /><a name="_Toc415498329" /><a name="_Toc413337857" /><a name="_Toc412626189" /><a name="_Toc381783369" /><a name="_Toc379874089" /><a name="_Toc355707619" /><a name="_Toc351014000" /><a name="_Toc320264346" /><a name="_Toc318995700" /><a name="_Toc318995498" /><a name="_Toc316896284" /><a name="_Toc312767252" /><a name="_Toc289782433" /><a name="_Toc285698350" /><a name="_Toc285642831" /><a name="_Toc285538696" /><a name="_Toc285477057" /><a name="_Toc285472596" /><a name="_Toc284885061" /><a name="_Toc284697567" /><a name="_Toc279663381" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to banks</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We present below the portfolio of loans and advances to banks as rated internally by the Organization:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Low risk</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Ratings as assigned by the Organization: Low risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Ratings AA1 - C3; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Rating C4 - D; and </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Ratings E - H.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">None of the loans and advances to banks are classified as past-due or impaired. 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The internal models used by the Organization are based on client or product.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Neither past due nor impaired (i)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">321,595,918</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,337,152</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due but not impaired (ii)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,684,314</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,612,906</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impaired (iii)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total loans and advances to customers</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The portfolio of loans and advances to customers presented a reduction of 4.7% from 2017 to December 2016.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;"><a name="_Toc284697568" /><a name="_Toc474923292" /><a name="_Toc474919343" /><a name="_Toc415565870" /><a name="_Toc415499849" /><a name="_Toc415498684" /><a name="_Toc415498560" /><a name="_Toc415498331" /><a name="_Toc413337859" /><a name="_Toc412626191" /><a name="_Toc381783371" /><a name="_Toc379874091" /><a name="_Toc355707621" /><a name="_Toc351014002" /><a name="_Toc320264348" /><a name="_Toc318995702" /><a name="_Toc318995500" /><a name="_Toc316896287" /><a name="_Toc312767254" /><a name="_Toc289782435" /><a name="_Toc285698351" /><a name="_Toc285642832" /><a name="_Toc285538697" /><a name="_Toc285477058" /><a name="_Toc285472597" /><a name="_Toc284885062" /><a name="_Toc316896286" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">(i)</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to customers neither past due nor impaired </font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Low risk</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,535,667</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">325,170,838</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,895,319</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,269,218</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,164,932</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,096</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">321,595,918</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,337,152</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Ratings as assigned by the Organization: Low risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Ratings AA1 - C3; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Rating C4 - D; and </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">: Ratings E - H.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The loans and advances to customers assessed to be neither past due nor impaired totaled R$ 321,595,918 thousand in </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">2017</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Of the total transactions, </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">96.2</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">% were classified as low risk.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;"><a name="_Toc474923293" /><a name="_Toc474919344" /><a name="_Toc415565871" /><a name="_Toc415499850" /><a name="_Toc415498685" /><a name="_Toc415498561" /><a name="_Toc415498332" /><a name="_Toc413337860" /><a name="_Toc412626192" /><a name="_Toc381783372" /><a name="_Toc379874092" /><a name="_Toc355707622" /><a name="_Toc351014003" /><a name="_Toc320264349" /><a name="_Toc318995703" /><a name="_Toc318995501" /><a name="_Toc316896288" /><a name="_Toc312767255" /><a name="_Toc289782436" /><a name="_Toc285698352" /><a name="_Toc285642833" /><a name="_Toc285538698" /><a name="_Toc285477059" /><a name="_Toc285472598" /><a name="_Toc284885063" /><a name="_Toc284697569" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">(ii)</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to customers past due but not impaired </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We present below the analysis by number of days past due of the contracts for loans and advances which were not classified as being impaired in the collective analysis and those which are not impaired based on the individual analysis. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">For the purpose of this analysis, an asset is considered past due and included in the following table when payment is late or is not received strictly in accordance with the contractual terms. The amount included in this category comprises the total financial asset, i.e. not only the overdue installment amount but the full contractual amount plus accrued interest.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The loans and advances to customers which are not individually material, which have not been classified as impaired are presented in this category.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The individually material loans and advances may be presented in this category when, based on the individual analysis, it is not necessary to record an individual impairment loss and, accordingly, the asset is then subject to a collective loss analysis.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Vencidos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Vencidos" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due up to 60 days</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,177,461</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,737,697</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due between 61 and 90 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,302,186</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,608,305</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due for more than 90 days</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">204,667</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,904</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,684,314</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,612,906</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The above table shows loans and advances, which despite being past due, do not provide indications of possible impairment. This amount represented 2.9% of the portfolio in 2017 (2016 - 3.2%).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;"><a name="_Toc474923294" /><a name="_Toc474919345" /><a name="_Toc415565872" /><a name="_Toc415499851" /><a name="_Toc415498686" /><a name="_Toc415498562" /><a name="_Toc415498333" /><a name="_Toc413337861" /><a name="_Toc412626193" /><a name="_Toc381783373" /><a name="_Toc379874093" /><a name="_Toc355707623" /><a name="_Toc351014004" /><a name="_Toc320264350" /><a name="_Toc318995704" /><a name="_Toc318995502" /><a name="_Toc316896290" /><a name="_Toc312767256" /><a name="_Toc289782437" /><a name="_Toc285698353" /><a name="_Toc285642834" /><a name="_Toc285538699" /><a name="_Toc285477060" /><a name="_Toc285472599" /><a name="_Toc284885064" /><a name="_Toc284697570" /><a name="_Toc316896289" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">(iii)</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to customers impaired</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Portfolio not yet due</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,342,024</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,567,703</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due up to 60 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,915,081</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,067,322</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due between 61 and 90 days</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,279,795</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,284,035</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due for more than 90 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,996,533</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,214,755</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to customers impaired reached R$ 41,533,433 thousand and accounted for 11.1% of the total portfolio in 2017 (2016 - 10.7%). </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc474923295" /><a name="_Toc474919346" /><a name="_Toc415565873" /><a name="_Toc415499852" /><a name="_Toc415498687" /><a name="_Toc415498563" /><a name="_Toc415498334" /><a name="_Toc413337862" /><a name="_Toc412626194" /><a name="_Toc381783374" /><a name="_Toc379874094" /><a name="_Toc355707624" /><a name="_Toc351014005" /><a name="_Toc320264351" /><a name="_Toc318995705" /><a name="_Toc318995503" /><a name="_Toc316896291" /><a name="_Toc312767257" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">By type of loan category</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The following table presents the loans and advances impaired by category:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Por_Modalidade" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc285698354" /><a name="_Toc285642835" /><a name="_Toc285538700" /><a name="_Toc285477061" /><a name="_Toc285472600" /><a name="_Toc284885065" /><a name="_Toc284697571" /><a name="IFRS_Emp_e_Adiant_Por_Modalidade" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,158,265</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,962,131</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Working capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,052,758</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,940,498</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personal credit</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,632,789</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,951,949</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Housing loans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,071,447</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,553,802</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financing and export</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,770,221</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,456,658</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicles - CDC (Direct consumer credit)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,333,748</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,651,852</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rural loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,699</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">946,282</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending BNDES/Finame</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">780,985</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,052,671</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for individuals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">638,506</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">882,992</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisition of assets</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">295,944</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">459,574</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for corporates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,271</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">406,296</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,559,800</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,869,110</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></b></p> </td> </tr> </table></div> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">&#160;</font></b></h3> <h3 style="margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc474923296" /><a name="_Toc474919347" /><a name="_Toc415565874" /><a name="_Toc415499853" /><a name="_Toc415498688" /><a name="_Toc415498564" /><a name="_Toc415498335" /><a name="_Toc413337863" /><a name="_Toc412626195" /><a name="_Toc381783375" /><a name="_Toc379874095" /><a name="_Toc355707625" /><a name="_Toc351014006" /><a name="_Toc320264352" /><a name="_Toc318995706" /><a name="_Toc318995504" /><a name="_Toc316896292" /><a name="_Toc312767258" /><a name="_Toc289782438" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Renegotiated loans and advances </font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></i></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The total balance of &#8220;Loans and advances to customers impaired&#8221; includes renegotiated loans and advances to customers. Such loans contemplate extension of loan payment terms, grace periods, reductions in interest rates, and/or, in some cases, the forgiveness (write-off) of part of the loan principal amount. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Renegotiations may occur after debts are past due or when the Company has information about a significant deterioration in the client&#39;s creditworthiness. The purpose of such renegotiations is to adapt the loan to reflect the client&#39;s actual payment capacity.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The following table shows changes made and our analysis of our portfolio of renegotiated loans and advances to customers:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Renegociados" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Renegociados" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Opening balance</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,501,423</font></b></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,728,723</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional renegotiated amounts, including interest</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,185,863</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,777,814</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments received</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,108,040)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,997,802)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,395,377)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,007,312)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Closing balance</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,183,869</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,501,423</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,853,777)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,346,397)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances to customers, net of impairment at the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,330,092</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,155,026</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63.2%</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59.1%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances as a percentage of the total loan portfolio</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.6%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.8%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9%</font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">At the time a loan is modified, Management considers the new loan&#39;s conditions and renegotiated maturity and it is no longer considered past due. From the date of modification, renegotiated interest begins to accrue, using the effective interest rate method, taking into consideration the customer&#39;s capacity to pay the loan based on the analysis made by Management. If the customer fails to maintain the new negotiated terms, management considers ceasing accrual from that point.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Additionally, any balances related to renegotiated loans and advances to customers that have already been written off and recorded in off-balance sheet accounts, as well as any gains from renegotiations, are recognized only when received.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc285698355" /><a name="_Toc285642836" /><a name="_Toc285538701" /><a name="_Toc285477062" /><a name="_Toc285472601" /><a name="_Toc284885066" /><a name="_Toc284697572" /><a name="_Toc279663382" /><a name="_Toc474923297" /><a name="_Toc474919348" /><a name="_Toc415565875" /><a name="_Toc415499854" /><a name="_Toc415498689" /><a name="_Toc415498565" /><a name="_Toc415498336" /><a name="_Toc413337864" /><a name="_Toc412626196" /><a name="_Toc381783376" /><a name="_Toc379874096" /><a name="_Toc355707626" /><a name="_Toc351014007" /><a name="_Toc320264353" /><a name="_Toc318995707" /><a name="_Toc318995505" /><a name="_Toc316896293" /><a name="_Toc312767259" /><a name="_Toc289782439" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Concentration of credit risk in loans and advances </font></b></h3> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">&#160;</font></b></h3> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Concen_de_Risco_Cred" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Concen_de_Risco_Cred" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Largest borrower</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.5%</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.3%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10 largest borrowers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.2%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20 largest borrowers</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.2%</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.6%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50 largest borrowers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.8%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100 largest borrowers</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22.2%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23.0%</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><a name="_Toc285698357" /><a name="_Toc285642838" /><a name="_Toc285538703" /><a name="_Toc285477064" /><a name="_Toc285472603" /><a name="_Toc284885068" /><a name="_Toc284697574" /><a name="_Toc312767260" /><a name="_Toc289782441" /><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc474923298" /><a name="_Toc474919349" /><a name="_Toc415565876" /><a name="_Toc415499855" /><a name="_Toc415498690" /><a name="_Toc415498566" /><a name="_Toc415498337" /><a name="_Toc413337865" /><a name="_Toc412626197" /><a name="_Toc381783377" /><a name="_Toc379874097" /><a name="_Toc355707627" /><a name="_Toc351014008" /><a name="_Toc320264354" /><a name="_Toc318995708" /><a name="_Toc318995506" /><a name="_Toc316896294" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">By Economic Activity Sector</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The credit-risk concentration analysis presented below is based on the economic activity sector in which the counterpart operates.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Setor_Atividade" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Setor_Atividade" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 - R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">%</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Public sector</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,676,927</font></b></p> </td> <td valign="bottom" width="9%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.6</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,813,581</font></b></p> </td> <td valign="bottom" width="11%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.2</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Oil, derivatives and aggregate activities</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,410,382</font></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.5</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,813,581</font></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Production and distribution of electricity</font></p> </td> <td valign="bottom" width="14%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,322</font></p> </td> <td valign="bottom" width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="14%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other industries</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">265,223</font></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.1</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Private sector</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">364,136,738</font></b></p> </td> <td valign="bottom" width="9%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97.4</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">383,270,292</font></b></p> </td> <td valign="bottom" width="11%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97.8</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,148,345</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.9</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">212,344,421</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54.2</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate and construction activities</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,383,442</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7.9</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,888,418</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.6</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,935,638</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6.4</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,346,471</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6.5</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Services</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,996,533</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.8</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,172,147</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.6</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation and concession</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,190,284</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.8</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,044,780</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.3</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Automotive</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,014,454</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,148,526</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.4</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Food products</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,866,028</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.4</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,870,635</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.8</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Wholesale</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,045,916</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.4</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,704,646</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Production and distribution of electricity</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,360,804</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.0</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,255,265</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Siderurgy and metallurgy</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,001,290</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,800,237</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.0</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sugar and alcohol</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,042,811</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,514,693</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other industries</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,311,145</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14.8</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,598,603</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Individuals</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">173,988,393</font></b></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46.5</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,925,871</font></b></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.6</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total portfolio</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of net loans and advances to customers</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font 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guarantees for estimating the expected cash flows, which are reviewed regularly in order to constantly improve the models and to ensure that&#160; the provision is sufficient.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Initially, clients are classified as individually significant and individually non-significant. 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In this case, the selling counterparty receives the underlying asset in exchange for said payment.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">On December 31, 2017, Bradesco had credit default swaps (CDS) with the following characteristics: the risk received in credit swaps whose underlying assets are &#8220;debt securities issued by companies" in the amount of R$ 468,214 thousand (R$ 114,069 thousand in 2016) and &#8220;bonds of the Brazilian public debt&#8221; in the amount of R$ 116,773 thousand (R$ 668,115 thousand in 2016) and in 2016 the risk transferred in credit swaps whose underlying assets are &#8220;securities the Brazilian public debt&#8221; was R$ (16,296) thousand, amounting to a total net credit risk value of negative R$&#160;584,987 thousand (R$ 765,888 thousand in 2016), with an effect on the calculation of required shareholders&#39; equity of negative R$ 49,162 thousand (R$ 11,977 thousand in 2016). 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There were no credit events, as defined in the agreements, during the period.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Offsetting of financial assets and liabilities </font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:5.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In accordance with IFRS 7, Bradesco must present the amounts related to financial instruments subject to master clearing agreements or similar agreements. In accordance with IAS 32, a financial asset and a financial liability are offset and their net value presented in the Consolidated Balance Sheet when, and only when, there is a legally enforceable right to offset the amounts recognized and the Bank intends to settle them in a liquid basis, or to realize the asset and settle the liability simultaneously.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The table below presents financial assets and liabilities subject to compensation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:559.500000pt;"> <tr style="height:11.6pt;"> <td colspan="4" rowspan="3" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="7" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial assets, gross</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount offset in the Balance Sheet</font></b></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments</font></p> </td> <td colspan="3" width="17%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="2" width="16%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="3" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="50%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="9" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial liabilities, gross</font></b></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount offset in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="8" width="49%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" rowspan="3" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="8" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="8" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial assets, gross</font></b></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount not cleared in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments</font></p> </td> <td colspan="5" width="19%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td colspan="2" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="51%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="10" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial liabilities, gross</font></b></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount not cleared in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> <td colspan="5" width="19%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> </tr> <tr style="height:0;"> <td width="49%"></td> <td width="1%"></td> <td width="1%"></td> <td width="1%"></td> <td width="15%"></td> <td width="1%"></td> <td width="1%"></td> <td width="1%"></td> <td width="14%"></td> <td width="2%"></td> <td width="14%"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">On December 31, 2017 and 2016, Bradesco does not have financial instruments in its balance sheet as a result of failing to meet the IAS 32 compensation criteria, or because it has no intention to liquidate them on a net basis, or to realize the assets and settle the liabilities simultaneously.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-.3in;"><a name="_Toc474923300" /><a name="_Toc282513944" /><a name="_Toc318995508" /><a name="_Toc318995710" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">3.2.</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">Market risk</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Market risk is represented by the possibility of financial loss due to fluctuating prices and interest rates of the Organization&#39;s financial instruments, such as its asset and liability transactions that may have mismatched maturities, currencies and indexes.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Market risk is identified, measured, 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The adjustment to the market, registered in the shareholders&#39; equity, of R$40,060 thousand (2016 - R$43,190 thousand), net of tax effects was R$ 24,036 thousand (2016 - R$25,914 thousand); (ii) with the objective of protecting cash flow from interest payments on capitalizations, referring to the risk of DI interest rates by using DI Futuro contracts in B3, totaling R$6,769,979 thousand, with the object of hedge as funds referenced to the DI, amounting to R$6,671,048 thousand in terms of maturities between 2018 and 2020, making the cash flows fixed. The adjustment to market, recorded in shareholders&#39; equity, of R$(84,044) thousand, net of tax effects was R$(50,426) thousand; and (iii)aiming at hedging the exchange variation on future cash flows, whose functional currency is other than Reais, using Forward contracts, in the amount of R$1,110,888 thousand, with the purpose of hedging the investment abroad denominated in MXN (Mexican Peso), in the amount of R$582,567 thousand. The mark-to-market adjustment these operations, recorded in shareholders&#39; equity was R$ (59,739) thousand, net of tax effects was R$(35,843) thousand. The effectiveness of the hedge portfolio was assessed in accordance with Bacen Circular Letter No. 3,082/02.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513953" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Standardized and &#8220;Continuous Use&#8221; Derivatives</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Organization&#39;s Treasury Department may use standardized (traded on an exchange) and &#8220;continuous use&#8221; (traded over-the-counter) derivatives for the purpose of obtaining income or as hedges. The derivatives classified as &#8220;continuous use&#8221; are those habitually traded over-the-counter, such as vanilla swaps (interest rates, currencies, CDS - Credit Default Swap, among others), forward operations (currencies, for example) and vanilla options (currency, Bovespa Index), among others. 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style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In this section are presented the evolution of financial exposure, the VaR calculated using the internal &#160;model and its backtesting and the Stress Analysis</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513956" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial Exposure - Trading Portfolio (Fair value)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Exp_Financeira_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc282513957" /><a name="IFRS_Exp_Financeira_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed rates</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,614,849</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,184,099</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,026,609</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,806,553</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">IGP-M (General 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3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">404,612</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,808,598</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,658,084</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">997,507</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">878,284</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,808,598</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,715</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,005,349</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,024,526</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">461,957</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">468,911</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">560,619</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,252</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,301,628</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">906,361</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">257,537</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,517</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,421</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,566,051</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,406,535</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,880,333</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,020,336</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:1.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">VaR Internal Model -Trading Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The 1-day VaR of Trading Portfolio net of tax effects in end of 2017 was R$ 14,417 thousand, with the interest rate risk as the largest participation of the portfolio. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_VaR_Modelo_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_VaR_Modelo_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed rates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,956</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,704</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">IGP-M (General Index of market pricing) / IPCA (Consumer price index)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,751</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">416</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,925</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">826</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,230</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">289</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Correlation/diversification effect</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,379)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,892)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR at the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,417</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average VaR in the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,024</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,910</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum VaR in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,499</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,408</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum VaR in the year</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100,640</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,726</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;"><font style="height:2px;left:0px;margin-left:0px;margin-top:0px;position:absolute;width:42px;z-index:251656704;"></font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">VaR Internal Model - Regulatory Portfolio </font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The capital is calculated by the normal delta VaR model based in Regulatory Portfolio, composed by Trading Portfolio and the Foreign Exchange Exposures and the Commodities Exposure of the Banking Portfolio. In addition, the historical simulation and the Delta-Gama-Vega models of risk are applied to measure all risk factors to an options portfolio, whichever is the most conservative. In this model, risk value is extrapolated to the regulatory</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> horizon<sup>(<a href="#_ftn1" name="_ftnref1"><font style="font-family:Times New Roman,serif;vertical-align:super;"><font style="font-family:Times New Roman,serif;vertical-align:super;"></font></font></a></sup></font><sup><a href="#_ftn1" name="_ftnref1"><font style="font-family:Times New Roman,serif;vertical-align:super;"><font style="font-family:Times New Roman,serif;vertical-align:super;"><u><font color="blue" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">[1]</font></u></font></font></a><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">)</font></sup><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> (at least ten days) </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">by the &#8216;square root of time&#39; method. VaR and Stressed VaR shown below refer to a ten-day horizon and are net of tax effects.</font><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;"> </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_VaR_Modelo_Carteira_Regulatoria" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc282513958" /><a name="IFRS_VaR_Modelo_Carteira_Regulatoria" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stressed</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stressed</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,659</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,400</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,231</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">149,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange rate</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,715</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,300</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,966</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,713</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commodity price (Commodities)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,110</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,065</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,400</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Correlation/diversification effect</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,429</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">240</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,872)</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,296)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR at the end of the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,978</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,540</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,337</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,489</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average VaR in the year</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,358</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,059</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,249</font></p> </td> <td width="13%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">179,169</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum VaR in the year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,945</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,803</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,810</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,230</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum VaR in the year</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">369,342</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,895</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,105</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">247,814</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Note: Ten-day horizon VaR net of tax effects.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">To calculate regulatory capital requirement according to the internal model, it is necessary to take into consideration the rules described by Brazilian Central Bank Circular Letters </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">n&#186;</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> 3,646/13 and 3,674/13, such as the use of VaR and Stressed VaR net of tax effects, the average in the last 60 days and its multiplier.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">VaR Internal Model - Backtesting</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The risk methodology applied is continuously assessed using backtesting techniques, which compare the one-day period VaR with the hypothetic P&amp;L, obtained from the same positions used in the VaR calculation, and with the effective P&amp;L, also considering the intraday operations for which VaR was estimated.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main purpose of backtesting is to monitor, validate and assess the adherence of the VaR model, and the number of exceptions that occurred must be compatible with the number of exception accepted by the statistical tests conducted and the confidence level established. Another objective is to improve the models used by the Organization, through analyses carried out with different observation periods and confidence levels, both for Total VaR and for each risk factor. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Daily hypothetical and effective P&amp;L over the last 250 business days surpassed their respective VaR only once, with a confidence level of 99%.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">According to the document published by the Basel Committee on Banking Supervision<sup>(</sup></font><sup><a href="#_ftn2" name="_ftnref2"><sup><u><font color="blue" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">[2]</font></u></sup></a><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">)</font></sup><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">, exceptions are classified as being due to &#8220;either bad luck or the markets did not behave as expected by the model&#8221;, i.e. volatility was significantly higher than expected and, in certain situations, the correlations differed from those forecast by the model.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513959" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Stress Analysis - Trading Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization also assesses on a daily basis, the possible impacts on positions in stress scenarios for the next 20 business days, with limits established in the governance process. Thus, considering the effect of diversification between the risk factors and the tax effects, the average of the possible loss estimates in a stress situation would be R$ 168,751&#160;</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> in 2017 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(2016 - R$&#160;198,274 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">, and the maximum estimated loss in the year of 2017 would be R$ 387,884 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(2016 - R$ 371,395 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Estresse_Carteira_Trading" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Estresse_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,949</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">338,004</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,751</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,274</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum in the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,426</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,152</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">387,884</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">371,395</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.4pt;margin-right:0in;margin-top:3.0pt;text-indent:7.15pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">Note: Values net of tax effects.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity Analysis</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Trading Portfolio is also monitored daily by sensitivity analyses that measure the effect of movements of market and price curves on our positions. Furthermore, a sensitivity analysis of the Organization&#39;s financial exposures (Trading and Banking Portfolio) is performed on a quarterly basis, in compliance with CVM Rule n</font><sup><u><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">o</font></u></sup><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> 475/08.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The sensitivity analyses were carried out based on the scenarios prepared for the respective dates, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Scenario 1: &#160;&#160;</font></b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.17 was used, while for a 1-year fixed interest rate of 6.90%, a scenario of 6.91% &#160;was applied;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Scenario 2: &#160;</font></b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">25.0% stresses were determined based on market information. For example: for a Real/US dollar exchange rate of R$ 3.14 a scenario of R$ 3.93 was used, while for a 1-year fixed interest rate of 6.90%, a 8.62% scenario was applied. The scenarios for other risk factors also accounted for 25% stresses in the respective curves or prices; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Scenario 3: &#160;</font></b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">50.0% stresses were determined based on market information. For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also account for 50.0% stresses in the respective curves or prices.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The results show the impact for each scenario on a static portfolio position. The dynamism of the market and portfolios means that these positions change continuously and do not necessarily reflect the position demonstrated here. In addition, the Organization has a continuous market risk management process, which is always searching for ways to mitigate the associated risks, according to the strategy determined by Management Therefore, in cases of deterioration indicators in a certain position, proactive measures are taken to minimize any potential negative impact, aimed at maximizing the risk/return ratio for the Organization.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div style="page:WordSection4;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity Analysis - Trading Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="6" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading Portfolio (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in fixed interest rates and interest rate coupons</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(359)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(61,497)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(120,385)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,074)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(293,350)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(568,367)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in price index coupon rates</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,576)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(33,298)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,723)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,174)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in foreign currency coupon rates</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(839)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(437)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign currency</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to exchange rate variations</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,629)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,736)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(81,473)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(106)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,649)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,297)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variation in stock prices</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,215)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,378)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(60,757)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in the interest rate of securities traded on the international market</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,469)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(61,730)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(123,461)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,464)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,649)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,751)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="32%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure not classified in other definitions</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(39)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total excluding correlation of risk factors</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,828)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,337)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420,213)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,672)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(311,614)</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(606,065)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total including correlation of risk factors</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,448)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(131,662)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(259,684)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,058)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(295,900)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(574,058)</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Values net of taxes.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Presented below, the Sensitivity Analysis - Trading and Banking Portfolio.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity Analysis - Trading and Banking Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Cart_Trading_Banking" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="6" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Cart_Trading_Banking" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;&#160;</font></b></p> </td> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading and Banking Portfolios (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in fixed interest rates and interest rate coupons</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,579)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,339,939)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,560,181)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,994)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,466,388)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,786,687)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in price index coupon rates</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(512)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,130)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(107,716)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,255)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,224,208)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,264,187)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in foreign currency coupon rates</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,575)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(80,110)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(158,548)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(455)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49,446)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(93,726)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign currency</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to exchange rate variations</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(600)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,004)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,008)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(867)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,663)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(43,327)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variation in stock prices</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,289)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(407,237)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(814,475)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,817)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(370,420)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(740,841)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in the interest rate of securities traded on the international market</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,978)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(205,764)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(406,054)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,786)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,940)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,801)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure not classified in other definitions</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(307)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(613)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(55)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total excluding correlation of risk factors</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,545)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,104,491)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,077,595)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,175)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,148,093)</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,961,624)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total including correlation of risk factors</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,956)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,678,101)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,232,466)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,893)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,691,157)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,090,253)</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Values net of taxes.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> </div> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;"><a name="_Toc282513962" /><a name="_Toc474923301" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">3.3.</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">Liquidity risk </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Liquidity Risk is represented by the possibility of the institution not being able to efficiently meet its obligations, without affecting its daily operations and incurring significant losses.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The understanding and monitoring of this risk are crucial to enable the Organization to settle operations in a timely manner. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513963" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Management Process for Liquidity Risk</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The management of liquidity risk is a group-wide process. This process involves several areas with specific responsibilities. The measurement and control of liquidity risk are conducted in a centralized and independent manner, including the daily monitoring of available funds, the compliance with the liquidity level according to the risk appetite defined by the board,</font><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">as well as</font><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">the contingency plan and recovery for possible stress situations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization has a Liquidity Risk Management Policy approved by the Board of Directors, which has as one of its objectives to ensure the existence of norms, criteria and procedures for the correct monitoring of this type of risk, as well as the existence of a strategy and of action plans for liquidity crisis situations. The policy and controls established fully comply with the provisions of CMN Resolution 4,557/17.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Control and Monitoring</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Liquidity risk management is carried out by the Treasury Department, based on the positions available, by independent area. The DCIR is responsible for the measurement methodology, control of the limits established by type of currency and company (including non-financial), review of policies, standards, criteria and procedures and studies for new recommendations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Liquidity risk is monitored daily by the business and control areas and at the meetings of the Treasury Asset and Liability Management Executive Committee, which manages liquidity reserves, with term and currency mismatches. Monitoring is also handled by the Integrated Risk and Capital Allocation Management Committee and the Board of Directors.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Since October, 2017, the Organization adopted as its main metric also for internal management, Short-Term Liquidity indicator (LCR), as provided by CMN Resolution 4,401/15 of CBB Circular Letter 3,749/16.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">LCR - Liquidity Coverage Ratio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Liquidity Coverage Ratio (LCR) is designed to ensure that the Organization maintains a sufficient level of liquid assets to cover liquidity needs in an eventual stress scenario. The LCR is the ratio between the stock of High Quality Liquid Assets (HQLA) and total net cash outflow, calculated based on a generic stress scenario. The formula below shows the main components of the indicator:</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="461" style="border-collapse:collapse;margin-left:93.5pt;width:380.799988pt;"> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="21%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" rowspan="2" width="19%" style="background:#D9D9D9;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">LCR =</font></b></p> </td> <td colspan="3" nowrap="nowrap" valign="bottom" width="60%" style="background:#D9D9D9;border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">HQLA</font></b></p> </td> <td nowrap="nowrap" rowspan="2" width="21%" style="background:#D9D9D9;height:15.75pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#8805; % Required</font></b></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="24%" style="background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Cash Outflows</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="10%" style="background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">-</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="26%" style="background:#D9D9D9;height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Cash Inflows*</font></b></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="53%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">*Limited to 75% of outflows</font></p> </td> <td nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" width="21%" style="height:15.0pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In accordance with the LCR implantation schedule, the level of the ratio between HQLA and total net cash outflows must comply with the following 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style="font-family:Arial,sans-serif;font-size:8.0pt;">100%</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513964" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The stress scenarios parameterization was conducted by the Brazilian Central Bank to capture idiosyncratic and market shocks, considering the period of thirty days. 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style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Cash outflows are the result of a reduction in deposits and funding; the maturity of securities issued; scheduled contractual obligations for the next 30 days; margin adjustments and calls in derivative operations; the utilization/withdrawal of credit and liquidity lines granted by the Bank; and contingent cash outflows. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Cash inflows for the next thirty days correspond to the expected receipt of loans and financings; deposits; securities; and margin adjustments and easing in derivative operations.</font></p> <p 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style="height:11.6pt;"> <td colspan="6" width="100%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="100%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Information on the Liquidity Coverage Ratio (LCR)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="3" width="44%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 (1)</font></b></p> </td> <td colspan="2" width="25%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 (2)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="25%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average Amount (3)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted Average Amount (4)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average Amount (3)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted Average Amount (4)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">High Quality Liquid Assets (HQLA)</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">1</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total High Quality Liquid Assets (HQLA)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,596,242</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,652,484</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash Outlows</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">2</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail funding:</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">210,005,411</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,749,477</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,352,566</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,702,571</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stable funding</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,661,528</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,783,076</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">140,847,861</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,225,436</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Less stable funding</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,343,883</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,966,401</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,504,705</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,477,135</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-collateralized wholesale funding:</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">112,474,083</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,716,519</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,652,197</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,853,687</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Operating deposits (all counterparties) and affiliated cooperative deposits</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,152,936</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">407,647</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,226,398</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">192,711</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-operating deposits (all counterparties)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,275,838</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,263,563</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,809,211</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,044,388</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other non-collateralized wholesale funding</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,045,309</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,045,309</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">616,588</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">616,588</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collateralized wholesale funding</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,656,909</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,808,725</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional requirements:</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,751,894</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,746,422</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,952,624</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,328,908</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to exposure to derivatives and other collateral requirements</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,192,265</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,089,564</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,283,688</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,017,294</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to funding losses through the issue of debt instruments</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">345,574</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">345,574</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,682</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,332</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to lines of credit and liquidity</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">82,214,055</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,311,284</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,635,254</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,305,282</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other contractual obligations</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,492,461</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,811,462</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,749,147</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,749,147</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other contingent obligations</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,133,680</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,160,312</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">156,190,246</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,581,011</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total cash outflows</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">122,841,100</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,024,048</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash Inflows</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">17</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collateralized loans</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,500,640</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">189,610,077</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">937,935</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outstanding loans whose payments are fully up-to-date</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,424,050</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,009,387</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,529,539</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,090,950</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other cash inflows</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,624,328</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,429,233</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,079,562</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,347,511</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20</font></b></p> </td> <td width="44%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total cash inflows</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,549,018</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,438,620</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">248,219,178</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,376,396</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Adjusted Amount (5)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Adjusted Amount (5)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" 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style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,402,480</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,647,652</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23</font></b></p> </td> <td width="44%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">LCR (%) (5)</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font 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</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Automatic </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">intra-day update of the liquidity reports for appropriate management by the Treasury Department</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Preparation of reports with past behavior and future simulations based on scenarios</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Daily verification of compliance with minimum </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">liquidity levels</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Elaboration of complementary reports where the concentrations of funding by type of product, term and counterparty are presented; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Weekly reports to the Board of Executive </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Officers, showing the behavior and expectations related to the liquidity</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> situation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The liquidity risk management process also has an alert system that selects the appropriate reporting level according to the percentage of the established limit utilized. Thus, the lower the liquidity ratios, the higher the number and echelon of Senior Management members who receive the reports.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc279663413" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Undiscounted cash flows of financial liabilities</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below presents the cash flows payable for non-derivative financial liabilities, covering the remaining contractual period to maturity as from the date of the consolidated statement of financial position. The values disclosed in this table represent the undiscounted contractual cash flows.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:617.000000pt;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="12" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td colspan="2" rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">197,275,471</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,199,209</font></p> </td> <td colspan="2" width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,240,285</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,251,295</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,593,477</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,559,737</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,846,015</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,519,939</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,476,264</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,861,185</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,268</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">272,820,671</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,346,915</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,222,173</font></p> </td> <td colspan="2" width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,548,689</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,143,455</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,503,901</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,765,133</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">896,349</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,705,136</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,942,643</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,064,409</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,166,577</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,775,114</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (1)</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.606.124 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.785.744 </font></p> </td> <td colspan="2" width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.290.146 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.711.492 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.046.006 </font></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">62.439.512 </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">386.970.874 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.432.201 </font></b></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">142.498.027 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">240.031.836 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">45.427.229 </font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">865.360.167 </font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="61%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="61%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="10" width="61%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,104,038</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,369,626</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,893,343</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,316,125</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,602,647</font></p> </td> <td colspan="2" width="11%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,285,779</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">137,186,325</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,655,017</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,460,997</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,377,222</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,507</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">250,783,068</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,239,074</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,971,886</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,896,618</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">91,190,406</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,850,999</font></p> </td> <td colspan="2" width="11%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">194,148,983</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">439,974</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,268,618</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,958,373</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,756,298</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,110,903</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,534,166</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (1)</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,547,649</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,025,726</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,516,140</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,837,647</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,663,580</font></p> </td> <td colspan="2" width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,590,742</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">355,517,060</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,290,873</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">177,725,471</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,477,698</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,331,636</font></b></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">894,342,738</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:0;"> <td width="1%"></td> <td width="37%"></td> <td width="1%"></td> <td width="10%"></td> <td width="1%"></td> <td width="9%"></td> <td width="1%"></td> <td width="10%"></td> <td width="10%"></td> <td width="1%"></td> <td width="11%"></td> <td width="1%"></td> <td width="13%"></td> <td width="1%"></td> <td><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;(1) I</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">nclude, mainly, credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The assets available to meet all the obligations and cover the outstanding commitments include cash and cash equivalents, financial assets, loans and advances. 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The values disclosed in the table are undiscounted cash flows.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Differential of swaps payable</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">279,134</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,468</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">536,406</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,169,717</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,038</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,276,763</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-deliverable forwards</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,115</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,761</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">147,710</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,682</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">737</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,005</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Purchased</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,599</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,513</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">90,914</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,640</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">737</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">284,403</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Sold</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,516</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,248</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,796</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,042</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,602</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums of options</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">551,220</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,510</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,443</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63,052</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,200</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">965,425</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment payables - future</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,305</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,305</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of derivative liabilities</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,774</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">234,739</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">718,559</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,299,451</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">469,975</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,909,498</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Differential of swaps payable</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,426,666</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,769</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">546,569</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,695,486</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,285</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,021,775</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-deliverable forwards</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,772,919</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,887</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">542,923</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,670</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">547</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,739,946</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Purchased</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">212,953</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,669</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">534,800</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,289</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">547</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,155,258</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Sold</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,966</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,218</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,123</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,381</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,584,688</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums of options</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,945</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,342</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,154</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,217</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,658</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment payables - future</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,164</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,164</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of derivative liabilities</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,369,694</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">476,998</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,129,646</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,897,373</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,832</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,043,543</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Statement of financial position by maturities </font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the financial assets and liabilities of the Organization segregated by maturities used for the management of liquidity risks, in accordance with the remaining contractual maturities on the reporting date:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_BP_por_Prazos_Atual" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="5" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_por_Prazos_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 30 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31 to 180 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181 to 360 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,181,714</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,934,575</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,501,249</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,527,365</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,173,284</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,391,854</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,422,266</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,392,915</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,351,886</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,816,085</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,391,763</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,753</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,454</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,205</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,284,940</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,691,766</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,977,537</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,922,357</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,543,922</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,965,417</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,565,940</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,975,173</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,136,673</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,544,426</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,387,187</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,754,483</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">424,955</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,830,036</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,715,548</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,526,092</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,151,120</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,535,303</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets (1)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,375,820</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,340,567</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,807,856</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,322,882</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,872,358</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,719,483</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">229,674,750</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">217,852,842</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,137,397</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">408,822,292</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">167,655,369</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,429,661</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,126,572,311</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">197,177,061</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,640,587</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,589,994</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,221,075</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,328,751</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">142,525,722</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,400,607</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,531,633</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,523,112</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,371</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,552,386</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,643</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,073</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,649</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">305,248</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,422,727</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,299,770</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,540,240</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,142,979</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">768,374</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">738,929</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,428,997</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">640,536</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,767,242</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,603,697</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,499,559</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,411,996</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">939,034</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,239,001</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (3)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,606,124</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,785,744</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,290,146</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,711,492</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,046,006</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,439,512</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">608,522,508</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,169,344</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,612,656</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,739,550</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,079,447</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,049,123,505</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> </td> <td colspan="7" width="73%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="5" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_por_Prazos_Anterior" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 30 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31 to 180 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181 to 360 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,475,080</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,768,610</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,759,221</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,589,655</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,837,056</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,710,224</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,629,209</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,660</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,149,003</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,251,675</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,143,446</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,932,440</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,069,588</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,646,950</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,394,834</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,904,827</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,753,065</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,586,901</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,286,577</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,759,292</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,545,217</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,120,712</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,398,574</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,341</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,151,213</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,409,338</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,879,049</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,744,273</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,119,161</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets (1)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,657,932</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">633,472</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,442</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,384,379</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,207,966</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,171,191</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,874,327</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,879,131</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,100,254</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">394,054,061</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,978,459</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,527,785</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,098,414,017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">162,977,360</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63,417,792</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,850,717</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,045,413</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,371,400</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,662,682</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">137,252,829</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,331,311</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,457,530</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,641,804</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,455</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,747,929</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,428,599</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">534,525</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">279,662</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">192,649</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">243</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,295,059</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,280,096</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,140,968</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,237,747</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,148,068</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">426,665</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,904,856</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,068,023</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,554,158</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,657,362</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,739,608</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,342,339</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,306,760</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,451,293</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (3)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,547,649</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,025,726</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,516,140</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,837,647</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,663,580</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,590,742</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,667,769</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">140,836,645</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,619,800</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">231,960,711</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,905,108</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,028,990,033</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(1)&#160; Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(2) Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(3) Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The tables below show the assets and liabilities of the Organization segregated by current and non-current, on the reporting date:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_BP_Circulante_Nao_Circulante_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_Circulante_Nao_Circulante_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">531,664,989</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">594,907,322</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,126,572,311</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current assets held for sale</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associated companies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premises and equipment</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets and goodwill, net of accumulated amortization</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Taxes to be offset</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,589,981</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,934,594</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,524,575</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,731,911</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,731,911</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,602,669</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,531,835</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,134,504</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,713,623</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">85,067,506</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,781,129</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,378,612</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">679,974,828</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">796,304,508</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">252,818,997</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,049,123,505</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other reserves</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,349,366</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,141,361</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,490,727</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current income tax liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,416,345</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,416,345</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,344</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,215,503</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,251,847</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,460,225</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,917,087</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,377,312</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,262,280</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,273,951</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,536,231</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total equity</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,693,704</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,693,704</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">833,566,788</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,786,652</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"><a name="_Toc279663407" /> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_Circulante_Nao_Circulante_Anteri" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,853,712</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">569,560,305</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,098,414,017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current assets held for sale</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associated companies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premises and equipment</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets and goodwill, net of accumulated amortization</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Taxes to be offset</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,114,609</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,608,602</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,723,211</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,116,863</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,116,863</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,278,675</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,720,504</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,999,179</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,972,250</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,643,389</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,615,639</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">538,825,962</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">653,203,694</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">766,124,214</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,865,819</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,028,990,033</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other reserves</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,293,374</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,999,035</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,292,409</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current income tax liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,130,286</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,130,286</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,943</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,726,005</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,762,948</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,917,264</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">457,509</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,374,773</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,377,867</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,182,549</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,560,416</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total equity</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,479,207</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,479,207</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">807,502,081</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">384,527,575</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-.3in;"><a name="_Toc474923302" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">3.4.</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" 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style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Quoted prices in active markets for identical assets or liabilities. 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Level 2 assets and liabilities include derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data, including but not limited to yield curves, interest rates, volatilities, equity or debt prices and foreign exchange rates.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Level 3</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:63.8pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Valuation uses unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities normally include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant Management judgment or estimation. This category generally includes certain corporate and bank debt securities and certain derivative contracts.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">To fair value securities which have no consistent, regulatory updated, public price source,&#160; Bradesco uses models defined by the mark-to-market Commission and documented in the mark-to-mark manual for each security type. Through the use of methods and both mathematical and financial models which capture the effects and variations in the prices of marked-to-market assets, or similar instruments, Bradesco is able to ascertain in a clear and consistent manner the determination of fair value of its level 3 assets and liabilities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below present the composition of the financial assets and liabilities measured at fair value, classified using the hierarchical levels:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Valor_Justo_Atual" width="99%" style="border-collapse:collapse;width:561.000000pt;"> <tr style="height:11.6pt;"> <td rowspan="3" width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Valor_Justo_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="8" width="57%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGED5" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="8" width="57%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,273,452</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,975,816</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4</font></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">202,249,272</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,716,053</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,271,295</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,442</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,339,790</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,952,015</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,396,254</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,348,269</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading securities</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,847,345</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,643,365</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,446</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,843,156</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (assets)</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,601</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,814,312</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,972</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (liabilities)</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,264,124)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,875)</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,274,999)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,601</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(449,812)</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,903)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(408,114)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,237,635</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,123</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,281,758</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,786,078</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,740,856</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,451,696</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,978,630</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,086,454</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,399</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,380,606</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,261,732</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,395,469</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available-for-sale securities</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,421,447</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,099,987</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,891,288</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,841,066</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,841,066</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,283,978</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,283,978</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">386,599,371</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,293,540</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,238,831</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">447,131,742</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="55%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Valor_Justo_Anterior" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="55%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="55%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,346,640</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,756,680</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">79</font></p> </td> <td colspan="2" width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,103,399</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,740,235</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,356,302</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,145</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,383,682</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">470,676</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,129,451</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,600,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,295,403</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,378</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,303,781</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading securities</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">167,846,369</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,250,811</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,224</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">196,384,404</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (assets)</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,632</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,728,802</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (liabilities)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,427,053)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,625)</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,435,678)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,632</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,301,749</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,617)</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,319,764</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,149,326</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,702</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,198,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,470,652</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,431,230</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,240,826</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,142,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,157</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">495,886</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,387,158</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,706,578</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,723,825</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available-for-sale securities</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,471,507</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,633,694</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,013,353</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,812,995</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,812,995</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,557,987</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,557,987</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">304,902,495</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,186,254</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,291,960</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">383,380,709</font></b></p> </td> </tr> <tr style="height:0;"> <td width="43%"></td> <td width="2%"></td> <td width="13%"></td> <td width="1%"></td> <td width="13%"></td> <td width="2%"></td> <td width="12%"></td> <td width="2%"></td> <td width="12%"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc279663408" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Derivative Assets and Liabilities</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization&#180;s derivative positions are determined using quantitative models that require the use of multiple inputs including interest rates, prices and indices to generate continuous yield or pricing curves and volatility factors. The majority of market inputs are observable and can be obtained, from B3 (principal source) and the secondary market. Exchange traded derivatives valued using quoted prices are classified within Level 1 of the valuation hierarchy. However, few classes of derivative contracts are listed on an exchange; those that are not are classified as Level 2 or Level 3.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The yield curves are used to determine the fair value by the method of discounted cash flow, for currency swaps and swaps based on other risk factors. The fair value of futures and forward contracts is also determined based on quoted markets prices on the exchanges for exchanges-traded derivatives or using similar methodologies to those described for swaps. The fair value of options is determined using external quoted prices or mathematical models, such as Black-Scholes, using yield curves, implied volatilities and the fair value of the underlying asset. Current market prices are used to determine the implied volatilities. The majority of these models do not contain a high level of subjectivity as the methodologies used in the models do not require significant judgment and inputs to the model are readily observable from active quoted markets. Such instruments are generally classified within Level 2 of the valuation hierarchy. The fair values of derivative assets and liabilities also include adjustments for market liquidity, counterparty credit quality and other specific factors, where appropriate.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Derivatives that are valued based on mainly unobservable market parameters and that are not actively traded are classified within Level 3 of the valuation hierarchy. Level 3 derivatives include credit default swaps which have corporate debt securities as underlyings.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years 2017 and 2016:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Derivativos_Ativos_Passivos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivativos_Ativos_Passivos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">209,210</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,190</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,382)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,274,018</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Included in the statement of income and other comprehensive income</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,155</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,174,225)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,161,070)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,833</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,178,445</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,793</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,194,071</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,633)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(445,173)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(452,834)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer with categories</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">274,001</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(274,001)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer levels</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(205,342)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,356,883)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,562,225)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31,&#160; 2016</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,224</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,013,353</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,617)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,291,960</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Included in the statement of income and other comprehensive income</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,868</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(735,002)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,134)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,908</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,019,844</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,714</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,098,466</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,554)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,406,907)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,432,461)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31,&#160; 2017</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,446</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,891,288</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,903)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,238,831</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In 2016, there was a transfer of securities from Level 3 to other levels of classification, mainly for &#160;level 2 in the amount R$ 1,562,225 thousand. The transfer refers, basically, to Corporate debt securities, which were based on the fair value obtained from internal pricing models, mainly customer internal rating, began to be calculated based on observable market data (Anbima&#39;s credit curve). </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities during the years 2017, 2016 and 2015:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Derivados_Ganhos_Perdas_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,967</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,269</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,236</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(917,271)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(927,370)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,868</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(735,002)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,134)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Anterior" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,518</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,164</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,682</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,381,389)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,384,752)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,155</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,174,225)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,161,070)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Anterior2" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">440,791</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,399,443</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,840,234</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,496</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,094,894</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,105,390</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">451,287</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,494,337</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,945,624</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities, which were not settled during the years 2017, 2016 and 2015:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc279663409" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity analysis for financial assets classified as Level 3</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Financ_Classif_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Financ_Classif_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on income (1)</font></b></p> </td> <td colspan="3" width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on shareholders&#39; equity (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,931)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,482)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(63)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,873)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,345)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,269)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,394)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,351)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(33,783)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(67,567)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,825)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(445,615)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(891,231)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Financ_Classif_Anter" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on income (1)</font></b></p> </td> <td colspan="3" width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on shareholders&#39; equity (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(271)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(476)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,205)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,088)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,047)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,953)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,481)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(487,018)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(974,037)</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:53.45pt;margin-right:21.25pt;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Values net of taxes.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The sensitivity analyses were carried out based on the scenarios prepared for the dates shown, always taking into consideration market inputs available at the time and scenarios that would adversely impact our positions, in accordance with the scenarios below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Scenario 1:&#160;&#160; </font></b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Based on market information (B3, Anbima, etc.), stresses were applied for 1 basis point on the interest rate and 1 base point for interest rates and 1.0% variation on prices. 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For example: for a Real/US dollar quote of R$ 3.14 a scenario of R$ 4.72 was used, while for a 1-year fixed interest rate of 6.90%, a 10.35% scenario was applied; The scenarios for other risk factors also had 50% stresses in the respective curves or prices.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:106.35pt;text-indent:-63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial instruments not measured at fair value</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below summarizes the carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value, classified using the hierarchical levels:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Book value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" 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style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; securities purchased under agreements to resell</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,182,489</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,963,782</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Banks (1)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Customers (1)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,633,592</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,633,592</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,716,505</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,716,505</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,760,442</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,760,442</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,890,631</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,890,631</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,012,436</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,012,436</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Book value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; securities purchased under agreements to resell</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,875,426</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,379,323</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Banks (1)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Customers (1)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">362,156,027</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">362,156,027</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p 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style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; 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style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Fair values were estimated for groups of similar loans based upon type of loan, credit quality and maturity. </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Fair value for fixed-rate transactions was determined by discounted cash flow estimates using interest rates approximately equivalent to our rates for new transactions based on similar contracts.</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> Where credit deterioration has occurred, estimated cash flows for fixed and floating-rate loans have been reduced to reflect estimated losses.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The fair values for performing loans are calculated by discounting scheduled principal and interest cash flows through maturity using market discount rates and yield curves that reflect the credit and interest rate risk inherent to the loan type at each reporting date. 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The risks are represented by Risk-Weighted Asset (RWA), which is calculated based on, at least, the sum of Credit, market and operational risk installments.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Additionally, the Organization must maintain enough capital to meet the interest rate risk from operations not included in the trading portfolio (Banking </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Portfolio</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#39;s interest rate risk), calculated using the EVE </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(Economic Value Equity)</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> method.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc279663433" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Analysis of Reference Equity (PR)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Following is the detailed information on the Organization&#39;s Capital, in compliance with the </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Prudential</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> Conglomerate:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Detalhamento_PR_Basileia" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="5" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc279663434" /><a name="_Toc474923308" /><a name="_Toc474919359" /><a name="IFRS_Detalhamento_PR_Basileia" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Calculation basis - Capital Adequacy Ratio</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basel III</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier I capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,084,744</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,762,886</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common equity</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">75,079,777</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,747,016</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholders&#39; equity</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">110,457,476</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100,442,413</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minority / Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,072</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,615</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential adjustments (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(35,445,771)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,756,012)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional Capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,004,967</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,015,870</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier II capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,588,090</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,363,950</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debts (Resolution No. 4.192/13)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,947,024</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,803,498</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debts (prior to Resolution No. 4.192/13)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,641,066</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,560,452</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reference Equity (a)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,672,834</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,126,836</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Credit risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,928,771</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">589,977,243</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Market risk</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,908,205</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,767,767</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Operational risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,605,162</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,443,507</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk-weighted assets - RWA (b)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">611,442,138</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">656,188,517</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking Book&#39;s Interest Rate Risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,527,467</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,142,339</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Margin (Capital Buffer) (2)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,226,583</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,084,702</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basel ratio (a/b)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.1%</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.4%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier I capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13.1%</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.0%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Principal capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.3%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11.2%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Additional capital</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">CMN</font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> Resolution n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;4,192/13; and<a name="_Toc474923309" /><a name="_Toc474919360" /></font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;"><a name="_Toc474923311" /><a name="_Toc474919362" /><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Margin = Minimum (PR - PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Breakdown of Risk-Weighted Assets (RWA)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Below is the detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate, regulatory approach:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Detalhamento_Montante_RWA" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Detalhamento_Montante_RWA" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">RWA</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit risk</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,928,771</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">589,977,243</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 0%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 2%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">314,012</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">271,970</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 20%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,224,147</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,725,736</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 35%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,208,602</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,114,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 50%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,635,506</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,434,787</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 75%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,553,059</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,017,519</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 85%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,938,759</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,006,730</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 100%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,909,360</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,369,280</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 250%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,139,531</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,655,131</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 300%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,920,531</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,825,567</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight up to 1,250%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,085,264</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,555,933</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Market Risk (1)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,908,205</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,767,767</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed-rate in Reais</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,696,584</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,537,134</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency Coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">838,259</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,028,051</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price Index Coupon</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,756,973</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,400</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest Rate Coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,499</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">637,924</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,392</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commodities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">449,546</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,466</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure to Gold, Foreign Currencies and Exchange</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,657,957</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,194,380</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Operational Risk</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,605,162</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,443,507</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate Finance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,369,491</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,380,459</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading and Sales</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,667,449</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,866,659</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,308,681</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,349,268</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;Commercial</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,518,843</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,699,277</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment and Settlement</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,132,749</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,143,694</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial Agent Services</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,628,257</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,465,556</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset Management</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,827,848</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,392,327</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail Brokerage</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,844</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,266</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Risk Weighted Assets</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">611,442,138</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">656,188,517</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Capital Requirement</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,558,398</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,798,616</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking Book&#39;s Interest Rate Risk</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,527,467</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,142,339</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Addicional Common equity (ACPS) (2)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,171,632</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,101,178</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">ACP Conservation</font></p> </td> <td 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style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loss events</font></b></p> </td> <td width="72%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on the business of increased loss events and claims</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="28%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Longevity</font></b></p> </td> <td width="72%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact of an improved survival estimates on annuity contracts</font></p> 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color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The sensitivity test for Life Insurance with </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Survival, Welfare Coverage</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> and </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Individual Life Insurance</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> was made considering the same bases of the LAT test with variation in the assumptions listed below:</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sensibilidade_Seg_de_Vida_Premissas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sensibilidade_Seg_de_Vida_Premissas" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Longevity</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Conversion to income</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Percentage adjustment to each assumption:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Variation of</font></b></p> </td> <td rowspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:150%;">+0.2 p.p.</font></b></p> </td> <td rowspan="2" width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">+ 5 p.p.</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-5%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans (contributing period)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(60,733)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,057)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,691)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">PGBL and VGBL (contributing period)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,446)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(504)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,409)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">All plans(retirement benefit period)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(112,782)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(35,507)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(178,961)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,068)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,100)</font></b></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">For damages, life and health insurance, except individual life, the table below shows increase in the events/claims were to rise 1 percentage point over the 12 months from the calculation base date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Seguros_Sinistralidade" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Seguros_Sinistralidade" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross of reinsurance</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of reinsurance</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,347)</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,205)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,347)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,205)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,940)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,809)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,893)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,333)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,146)</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,358)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,050)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,277)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,923)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(89,907)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,923)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(89,907)</font></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Limitations of sensitivity analysis</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Sensitivity analyses show the effect of a change in an important premise while other premises remain unchanged. In real situations, premises and other factors may be correlated. It should also be noted that these sensitivities are not linear and therefore greater or lesser impacts should not be interpolated or extrapolated from these results.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Sensitivity analyses do not take account of the fact that assets and liabilities are managed and controlled. Additionally, the </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Organization&#39;s</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> financial position may vary with any movement occurring in the market. For example, the risk management strategy aims to manage exposure to fluctuations in the market. As investment markets move, management initiatives may include sales of investments, altered portfolio allocations, and other protective measures.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Other limitations of the sensitivity analyses include the use of hypothetical market movements to show the potential risk, which only represents Management&#39;s view of possible market changes in the near future, which cannot be foreseen with certainty, and they also assume that all interest rates move in the same manner.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Risk concentration</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Potential exposures are monitored, analyzing certain concentrations in some type of insurance. The table below shows risk concentration by type of insurance (except health and dental), based on net premiums, net of reinsurance:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net premiums written by type of insurance, net of reinsurance</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,086,705</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,924,444</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,525,848</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,593,662</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,788,420</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,499,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life insurance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,904,576</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,354,034</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">VGBL</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 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style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Credit risk consists of the possible incurrence of losses associated with non-performance, by the borrower or counterparty, of its financial obligations according to agreed terms, as well as the fall in value of any credit agreement as a result of deterioration in the risk classification of the borrower, and other losses related to any non-performance of financial obligations by the counterparty.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Reinsurance policy</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Credit risk is involved in purchasing reinsurance and insurance companies must be conservative and selective when choosing their partners R</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">einsurers are registered with SUSEP, and classified as local, admitted or occasional. 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Exposure to credit risk for premium receivables differs between risks yet to be incurred and risks incurred, since there is higher exposure on incurred-risk lines for which coverage is provided in advance of payment of the insurance premium.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization is exposed to concentrations of risk with individual reinsurance companies, due to the nature of the reinsurance market and strict layer of reinsurance companies with acceptable loan ratings. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These consolidated financial statements of the Organization were prepared in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The consolidated financial statements include the consolidated statements of financial position, consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows as well as the notes to the consolidated financial statements.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These consolidated financial statements have been prepared based on historical cost, except for the following material items in the balance sheet: available for sale measured at fair value, assets and liabilities held for trading measured at fair value and financial instruments designated at fair value through profit or loss, and defined-benefit liabilities that are recognized at the present value of the defined benefit obligation less the net total of the plan assets, plus unrecognized actuarial gains less the cost of past services not recognized.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization has classified its expenses according to their nature.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The consolidated statement of cash flows shows the changes in cash and cash equivalents during the year arising from operating, investing and financing activities. Cash and cash equivalents include highly liquid investments. Note 19 details the accounts of the consolidated statement of financial position that comprise cash and cash equivalents. The consolidated statement of cash flows is prepared using the indirect method. Accordingly, the income before taxes was adjusted by non-cash items such as provisions, depreciation, amortization and Impairment losses on loans and advances. The interest and dividend received and paid are classified as operating, financing or investment cash flows according to the nature of the corresponding assets and liabilities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The preparation of the consolidated financial statements requires the use of estimates and assumptions which affect the reported amounts of assets and liabilities, as well as the disclosure of contingent assets and liabilities at the date of the financial statements, and the profit and loss amounts for the year. The consolidated financial statements also reflect various estimates and assumptions, including, but not limited to: adjustments to the impairment provision of loans and advances; estimates of the fair value of financial instruments; depreciation and amortization rates; impairment losses on assets; the useful life of intangible assets; evaluation of the realization of tax assets; assumptions for the calculation of technical provisions for insurance, supplemental pension plans and capitalization bonds; provisions for contingencies and provisions for potential losses arising from fiscal and tax uncertainties. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The accounting policies listed below were used in all the periods presented and by all the companies of the Organization.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForRecentAcquisitionsTextBlock', window );">Recent Acquisitions</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923251" /><a name="_Toc474919302" /><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">2.1</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">Recent Acquisitions </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In August, 2015, Bradesco signed the Purchase and Sale of Shares Agreement with HSBC Latin America Holdings Limited for the acquisition of 100% of the equity of HSBC Bank Brasil S.A. (&#8220;HSBC Bank&#8221;) and HSBC Servi&#231;os e Participa&#231;&#245;es Ltda. (&#8220;HSBC Servi&#231;os&#8221;). In June 2016, the final approval of regulatory agencies was given in compliance with legal formalities. With the conclusion of the acquisition, on July 1, 2016, Bradesco assumed all operations of &#160;HSBC in Brazil, including retail, insurance and asset management, as well as all the branches and clients, reinforcing its presence and competitiveness throughout the national territory.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In July 2016, there was a total division of the equity of HSBC Servi&#231;os, where portions of this &#160;equity&#160; were transferred to HSBC Bank and to Credival Participa&#231;&#245;es, Administra&#231;&#227;o e Assessoria Ltda. (Credival), that is a wholly owned subsidiary of HSBC Bank.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In October 2016, approval was granted in an Extraordinary General Meeting for the partial spin-off of HSBC Brasil, through the absorption of portions of its equity by companies of the Organization, enabling progress with the integration of operational and technological platforms, resulting in the replacement of the HSBC brand in its service network, becoming Bradesco. Thus, Bradesco began to operate with a unified platform (branches, ATMs, and systems), to which all clients have access to. Bradesco adds, from now on the products and services already offered to HSBC Brasil clients, a nationwide service network, a state-of-the-art technology platform, and an even more extensive portfolio of products and services.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) at the date of acquisition:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;"> <tr style="height:14.15pt;"> <td width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td colspan="3" valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;page-break-inside:avoid;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Accounting</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustments </font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair Value (1)</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Desposits with the central banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,364,585</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,650,016)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,714,569</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,450</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,411</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,861</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Property and equipment, net of accumulated depreciation </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,175,554</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">622,246</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,800</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">558,015</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,551,758</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,808,692</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">848,699</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,657,391</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from securities issued</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,187,105)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(64,701)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,251,806)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sub-total</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,066,683</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Total amount of s</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">hareholders&#39; equity acquired</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The fair value of the consideration transferred was composed as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;"> <tr style="height:14.15pt;"> <td width="83%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Payment to HSBC Latin America Holding Limited, net of adjustment after closure <sup>(1)</sup></font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,665,367</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustment to the cost acquisition related to the fair value of the firm commitment<sup> (2)</sup></font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> </font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,623,103</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:5.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes the IOF collection, and withholding Income Tax; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2) Includes the results from changes to the fair value </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> h</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In December 2016, Bradesco, based on a study report on purchase price allocation ("PPA"), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" width="89%" style="border-collapse:collapse;margin-left:45.95pt;"> <tr style="height:14.15pt;"> <td width="84%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholders&#39; equity acquired</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of assets acquired and liabilities assumed</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(221,361)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets acquired</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill in the acquisition of the "HSBC Bank" and "HSBC Servi&#231;os" investments</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table></div> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;margin-right:0pt;margin-top:0in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These acquisitions were recorded on the business combination method and the companies were consolidated from the date that the majority control was acquired.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The goodwill on acquisition, in the amount of R$ 4,221,787 thousand, recorded by Bradesco, is not amortized and is subject to annual impairment test. Goodwill is attributed to the expected future profitability of the respective businesses acquired and to the strengthening of Bradesco&#39;s strategy to strengthen its presence throughout the national territory, giving a greater degree of competition in a highly competitive market, so as to take advantage of the synergies generated by the products and base of HSBC Brasil customers, which are complementary.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForConsolidationTextBlock', window );">Consolidation</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:9.0pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-.25in;"><a name="_Toc474923252" /><a name="_Toc474919303" /><a name="_Toc415565830" /><a name="_Toc415499809" /><a name="_Toc415498644" /><a name="_Toc415498520" /><a name="_Toc415498291" /><a name="_Toc413337819" /><a name="_Toc412626151" /><a name="_Toc381783331" /><a name="_Toc379874051" /><a name="_Toc355707581" /><a name="_Toc351013962" /><a name="_Toc320264309" /><a name="_Toc318995662" /><a name="_Toc318995460" /><a name="_Toc316896239" /><a name="_Toc312767216" /><a name="_Toc289782394" /><a name="_Toc285698308" /><a name="_Toc285642789" /><a name="_Toc285538655" /><a name="_Toc285477016" /><a name="_Toc285472555" /><a name="_Toc284885019" /><a name="_Toc284697525" /><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">2.2</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;">&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;">Consolidation </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The consolidated financial statements include the financial statements of Bradesco and those of its direct and indirect subsidiaries, including exclusive mutual funds and special purpose entities.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main subsidiaries included in the consolidated financial statements are as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" title="IFRS_Base_de_Consolidacao_Controladas" width="99%" style="border-collapse:collapse;margin-left:.5in;width:99.94%;"> <tr style="height:12.2pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Base_de_Consolidacao_Controladas" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Activity</font></b></p> </td> <td rowspan="3" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Country</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">December 31</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Alvorada S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Financiamentos S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Boavista Interatl&#226;ntico S.A. (1)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Argentina S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Argentina</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Europa S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Luxembourg</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BERJ S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradescard S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BBI S.A. (1)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment bank</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.85%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.81%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Cart&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Administradora de Cons&#243;rcios Ltda. </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradseg Participa&#231;&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Auto/RE Cia. de Seguros</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Capitaliza&#231;&#227;o S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Odontoprev S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dental care</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Leasing S.A. Arrendamento Mercantil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leasing</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Sa&#250;de S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance / Health</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Seguros S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesplan Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">BRAM - Bradesco Asset Management S.A. DTVM</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tempo Servi&#231;os Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Services</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Uni&#227;o Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Losango S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Administradora de Cons&#243;rcios Ltda (2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Bank Brasil S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Capitaliza&#231;&#227;o S.A. (3)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Seguros S.A. (4) (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.54%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.08%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Participa&#231;&#245;es e Investimentos Ltda (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; 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Consistent accounting policies as well as similar valuation methods for similar transactions, events and circumstances are used throughout the Organization for the purposes of consolidation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Foreign currency translation</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923253" /><a name="_Toc474919304" /><a name="_Toc415565831" /><a name="_Toc415499810" /><a name="_Toc415498645" /><a name="_Toc415498521" /><a name="_Toc415498292" /><a name="_Toc413337820" /><a name="_Toc412626152" /><a name="_Toc381783332" /><a name="_Toc379874052" /><a name="_Toc355707582" /><a name="_Toc351013963" /><a name="_Toc320264310" /><a name="_Toc318995663" /><a name="_Toc318995461" /><a name="_Toc316896242" /><a name="_Toc312767218" /><a name="_Toc289782399" /><a name="_Toc285698313" /><a name="_Toc285642794" /><a name="_Toc285538660" /><a name="_Toc285477021" /><a name="_Toc285472560" /><a name="_Toc284885024" /><a name="_Toc284697530" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.3</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Foreign currency translation </font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Functional and presentation currency</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Items included in the financial statements of each of the Organization&#39;s entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The consolidated financial statements are presented in Brazilian Reais (R$), which is the Organization&#39;s presentation currency. The domestic and foreign subsidiaries use the Real as their functional currency, with the exception of the subsidiary in Mexico, which uses the Mexican Peso as its functional currency.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Transactions and balances </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Foreign currency transactions, which are denominated or settled in a foreign currency, are translated into the functional currency using the exchange rates prevailing on the dates of the transactions. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Monetary items denominated in foreign currency are translated at the closing exchange rate as at the reporting date. Non-monetary items measured at historical cost denominated in a foreign currency are translated at the exchange rate on the date of initial recognition; non-monetary items in a foreign currency that are measured at fair value are translated using the exchange rates on the date when the fair value was determined. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Foreign exchange gains and losses resulting from the settlement of foreign currency transactions and from the translation at each period exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statement of income as &#8220;Net gains/(losses) of foreign currency transactions&#8221;.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In the case of changes in the fair value of monetary assets denominated in foreign currency classified as available for sale, a distinction is made between translation differences resulting from changes in amortized cost of the security and other changes in the carrying amount of the security. Translation differences related to changes in the amortized cost are recognized in the consolidated statement of income, and other changes in the carrying amount, except impairment, are recognized in equity.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Foreign operations </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The results and financial position of all foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Assets and liabilities for each consolidated statement of financial position presented are translated at the closing rate at the reporting date; </font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:72.8pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income and expenses for each consolidated statement of income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rate prevailing on the transaction dates, in which case income and expenses are translated at the rates in effect on the dates of the transactions); and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:78.0pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Symbol;font-size:10.0pt;line-height:115%;">&#183;</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">All resulting exchange differences are recognized in other comprehensive income. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Exchange differences arising from the above process are reported in equity as &#8220;Foreign currency translation adjustment&#8221;.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">On consolidation, exchange differences arising from the translation of the net investment in foreign entities are taken to &#8216;Other comprehensive income&#39;. If the operation is a non-wholly owned subsidiary, then the relevant proportion of the transaction difference is allocated to the non-controlling interest. When a foreign operation is partially sold or disposed, such exchange differences, which were recognized in equity, are recognized in the consolidated statement of income as part of the gain or loss on sale. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory', window );">Cash and cash equivalents</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923254" /><a name="_Toc474919305" /><a name="_Toc415565832" /><a name="_Toc415499811" /><a name="_Toc415498646" /><a name="_Toc415498522" /><a name="_Toc415498293" /><a name="_Toc413337821" /><a name="_Toc412626153" /><a name="_Toc381783333" /><a name="_Toc379874053" /><a name="_Toc355707583" /><a name="_Toc351013964" /><a name="_Toc320264311" /><a name="_Toc318995664" /><a name="_Toc318995462" /><a name="_Toc316896243" /><a name="_Toc312767219" /><a name="_Toc289782400" /><a name="_Toc285698314" /><a name="_Toc285642795" /><a name="_Toc285538661" /><a name="_Toc285477022" /><a name="_Toc285472561" /><a name="_Toc284885025" /><a name="_Toc284697532" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.4</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Cash and cash equivalents</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Cash and cash equivalents include: cash, bank deposits, unrestricted balances held with the Central Bank of Brazil and other highly liquid short-term investments, with original maturities of three months or less and &#160;which are subject to insignificant risk of changes in fair value, used by the Organization to manage its short-term commitments. See Note 19(b) - &#8220;Cash and cash equivalents&#8221;.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory', window );">Sale and repurchase agreements</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923255" /><a name="_Toc474919306" /><a name="_Toc415565833" /><a name="_Toc415499812" /><a name="_Toc415498647" /><a name="_Toc415498523" /><a name="_Toc415498294" /><a name="_Toc413337822" /><a name="_Toc412626154" /><a name="_Toc381783334" /><a name="_Toc379874054" /><a name="_Toc355707584" /><a name="_Toc351013965" /><a name="_Toc320264312" /><a name="_Toc318995665" /><a name="_Toc318995463" /><a name="_Toc316896245" /><a name="_Toc312767220" /><a name="_Toc289782401" /><a name="_Toc285698315" /><a name="_Toc285642796" /><a name="_Toc285538662" /><a name="_Toc285477023" /><a name="_Toc285472562" /><a name="_Toc284885026" /><a name="_Toc284697533" /><a name="_Toc316896244" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.5</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Sale and repurchase agreements</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Securities sold subject to repurchase agreements are presented in the consolidated financial statements in &#8220;Financial assets pledged as collateral&#8221;. The counterparty liability is included in &#8220;Deposits from Banks&#8221;. Securities purchased under agreements to resell are recorded in &#8220;Loans and advances to banks&#8221; or &#8220;Loans and advances to customers&#8221;, as appropriate. The difference between sale and repurchase price is treated as interest in the consolidated statement of income and recognized over the life of the agreements using the effective interest rate method. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Financial assets and liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923256" /><a name="_Toc474919307" /><a name="_Toc415565834" /><a name="_Toc415499813" /><a name="_Toc415498648" /><a name="_Toc415498524" /><a name="_Toc415498295" /><a name="_Toc413337823" /><a name="_Toc412626155" /><a name="_Toc381783335" /><a name="_Toc379874055" /><a name="_Toc355707585" /><a name="_Toc351013966" /><a name="_Toc320264313" /><a name="_Toc318995666" /><a name="_Toc318995464" /><a name="_Toc316896246" /><a name="_Toc312767221" /><a name="_Toc289782402" /><a name="_Toc285698316" /><a name="_Toc285642797" /><a name="_Toc285538663" /><a name="_Toc285477024" /><a name="_Toc285472563" /><a name="_Toc284885027" /><a name="_Toc284697534" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.6</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Financial assets and liabilities</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial assets</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization classifies financial assets in the following four categories: measured at fair value through profit or loss; available for sale; held to maturity and loans and receivables. 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For debt securities the Organization adopts the assessment described in item (a) above, in order to identify an impairment event.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In the case of equity investments classified as available for sale, a significant or prolonged decline in the fair value of the security below its cost is considered objective evidence of impairment resulting in the recognition of an impairment loss.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">If any such evidence exists for available-for- sale financial assets, the cumulative loss - measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in profit or loss - is removed from equity and recognized in the income statement.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">If, in a subsequent period, the fair value increases, for debt instrument classified as available for sale, and the increase can be objectively related to an event occurring after the impairment loss was recognized in profit or loss, the impairment loss is reversed through the consolidated statement of income. Impairment losses recognized in the consolidated statement of income on equity instruments are not reversed through the consolidated statement of income. Increases in the fair value of equity instruments after impairment are recognized in other comprehensive income.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory', window );">Non-current assets held for sale</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923257" /><a name="_Toc474919308" /><a name="_Toc415565835" /><a name="_Toc415499814" /><a name="_Toc415498649" /><a name="_Toc415498525" /><a name="_Toc415498296" /><a name="_Toc413337824" /><a name="_Toc412626156" /><a name="_Toc381783336" /><a name="_Toc379874056" /><a name="_Toc355707586" /><a name="_Toc351013967" /><a name="_Toc320264314" /><a name="_Toc318995667" /><a name="_Toc318995465" /><a name="_Toc316896247" /><a name="_Toc312767222" /><a name="_Toc289782403" /><a name="_Toc285698317" /><a name="_Toc285642798" /><a name="_Toc285538664" /><a name="_Toc285477025" /><a name="_Toc285472564" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.7</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Non-current assets held for sale </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Under certain circumstances, property is repossessed following foreclosure of loans that are in default. Repossessed properties are measured at the lower of their carrying amount and fair value less the costs to sell and are included within &#8220;Non-current assets held for sale.&#8221; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Property and equipment</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923258" /><a name="_Toc474919309" /><a name="_Toc415565836" /><a name="_Toc415499815" /><a name="_Toc415498650" /><a name="_Toc415498526" /><a name="_Toc415498297" /><a name="_Toc413337825" /><a name="_Toc412626157" /><a name="_Toc381783339" /><a name="_Toc379874059" /><a name="_Toc355707589" /><a name="_Toc351013970" /><a name="_Toc320264317" /><a name="_Toc318995670" /><a name="_Toc318995468" /><a name="_Toc316896250" /><a name="_Toc312767225" /><a name="_Toc289782406" /><a name="_Toc285698320" /><a name="_Toc285642801" /><a name="_Toc285538667" /><a name="_Toc285477028" /><a name="_Toc285472567" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.8</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Property and equipment</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Recognition and valuation</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Property and equipment are measured at cost less accumulated depreciation and accumulated impairment losses (see Note 2(k) below), if any.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The cost includes expenses directly attributable to the acquisition of an asset.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The cost of assets internally produced includes the cost of materials and direct labor, as well as any other costs that can be directly allocated and that are necessary for them to function. Software acquired for the operation of the related equipment is recorded as part of the equipment.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">When different parts of an item have different useful lives, and separate control is practical, they are recorded as separate items (main components) comprising the property and equipment.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Gains and losses from the sale of </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">property and equipment</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> are determined by comparing proceeds received with the carrying amount of the asset and are recorded in the consolidated income statement under the heading &#8220;Other operating income/(expenses).&#8221;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Subsequent costs</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization for more than one year and the cost can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance costs are charged to the consolidated statement of income during the reporting period in which they are incurred.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Depreciation</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Depreciation is recognized in the consolidated statement of income using the straight-line basis and taking into consideration the estimated useful economic life of the assets. The depreciable amount is the gross-carrying amount, less the estimated residual value at the end of the useful economic life. Land is not depreciated. Useful lives and residual values are reassessed at each reporting date and adjusted, if appropriate.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory', window );">Intangible assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923259" /><a name="_Toc474919310" /><a name="_Toc415565837" /><a name="_Toc415499816" /><a name="_Toc415498651" /><a name="_Toc415498527" /><a name="_Toc415498298" /><a name="_Toc413337826" /><a name="_Toc412626158" /><a name="_Toc381783340" /><a name="_Toc379874060" /><a name="_Toc355707590" /><a name="_Toc351013971" /><a name="_Toc320264318" /><a name="_Toc318995671" /><a name="_Toc318995469" /><a name="_Toc316896251" /><a name="_Toc312767226" /><a name="_Toc289782407" /><a name="_Toc285698321" /><a name="_Toc285642802" /><a name="_Toc285538668" /><a name="_Toc285477029" /><a name="_Toc285472568" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.9</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Intangible assets </font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Intangible assets comprise separately identifiable non-monetary items, without physical substance due to business combinations, such as goodwill and other purchase intangible assets, computer software and other such intangible assets. 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Goodwill originated from the acquisition of subsidiaries is recognized as &#8220;Intangible Assets&#8221;, and the goodwill from acquisition of associates and joint ventures is included in the carrying amount of the investment, (see Note 2(b)(ii)). 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Useful lives and residual values are reviewed at each reporting date and adjusted, if necessary.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other intangible assets</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><i><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></i></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other intangible assets refer basically to the customer portfolio and acquisition of banking service rights. They are recorded at cost less amortization and impairment losses, if any, and are amortized for the period in which the asset is expected to contribute, directly or indirectly, to the future cash flows. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These intangible assets are reviewed annually, or whenever events or changes in circumstances occur which could indicate that the carrying amount of the assets cannot be recovered. If necessary, the write-off or impairment (see Note 2(k) below) is immediately recognized in the consolidated statement of income.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Leasing</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923260" /><a name="_Toc474919311" /><a name="_Toc415565838" /><a name="_Toc415499817" /><a name="_Toc415498652" /><a name="_Toc415498528" /><a name="_Toc415498299" /><a name="_Toc413337827" /><a name="_Toc412626159" /><a name="_Toc381783341" /><a name="_Toc379874061" /><a name="_Toc355707591" /><a name="_Toc351013972" /><a name="_Toc320264319" /><a name="_Toc318995672" /><a name="_Toc318995470" /><a name="_Toc316896252" /><a name="_Toc312767227" /><a name="_Toc289782408" /><a name="_Toc285698322" /><a name="_Toc285642803" /><a name="_Toc285538669" /><a name="_Toc285477030" /><a name="_Toc285472569" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.10</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Leasing</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization has both operating and finance leases and operates as a lessee and a lessor.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Leases in which a significant part of the risks and benefits of the asset is borne by the lessor are classified as operating leases. 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Subsequent to initial recognition, the asset is accounted for in accordance with the accounting policy applicable to that asset.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">As a lessee, the Organization classifies its leasing operations mainly as operating leases, and the monthly payments are recognized in the financial statements using the straight-line method over the term of the lease. Lease incentives received are recognized as an integral part of the total lease expense, over the term of the lease.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">When an operating lease is terminated before the contract expires, any payment that may be made to the lessor in the form of a penalty is recognized as an expense for the period.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Minimum lease payments made under finance leases are apportioned between the finance expense and the reduction of the outstanding liability. 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These initial costs include amounts for commissions, legal fees and internal costs. The costs incurred in relation to the negotiation, structuring and sales of leases are excluded from the definition of initial direct costs and therefore are recognized as expenses at the beginning of the lease term.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Recognition of financial revenue reflects a constant rate of return on the net investment made by the Organization.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The estimated non-guaranteed residual values used in the calculation of the gross investment of the lessor in the lease are reviewed at least annually. 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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory', window );">Impairment losses on non-financial assets (except for deferred tax assets)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-33.55pt;"><a name="_Toc474923261" /><a name="_Toc474919312" /><a name="_Toc415565839" /><a name="_Toc415499818" /><a name="_Toc415498653" /><a name="_Toc415498529" /><a name="_Toc415498300" /><a name="_Toc413337828" /><a name="_Toc412626160" /><a name="_Toc381783342" /><a name="_Toc379874062" /><a name="_Toc355707592" /><a name="_Toc351013973" /><a name="_Toc320264320" /><a name="_Toc318995673" /><a name="_Toc318995471" /><a name="_Toc316896253" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.11</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Impairment losses on non-financial assets (except for deferred tax assets)</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Assets that have an indefinite useful life such as goodwill are not subject to amortization and are tested, at least, annually at the same date to verify the existence of impairment.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Assets, which are subject to amortization or depreciation, are reviewed to verify impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized based on the excess the carrying amount of the &#160;asset or the cash generating unit (CGU) over its estimated recoverable amount. The recoverable amount of an asset or CGU is the greater of its fair value, less costs to sell, and its value in use.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">For the purpose of impairment testing, the assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to a ceiling of the operating segments, for the purpose of goodwill impairment testing, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGU&#39;s that are expected to benefit from the synergies of the combination. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The recoverable amount is the higher of an asset/CGU&#39;s fair value less costs to sell and its value in use. 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Corporate assets are allocated to CGU&#39;s on a reasonable and consistent basis and tested for impairment as part of the testing of the CGU to which the corporate asset is allocated.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Impairment losses are recognized in the consolidated Statement of Income. 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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForDepositsDebtSecuritiesIssuedAndSubordinatedLiabilitiesTextBlock', window );">Deposits, debt securities issued and subordinated liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923262" /><a name="_Toc474919313" /><a name="_Toc415565840" /><a name="_Toc415499819" /><a name="_Toc415498654" /><a name="_Toc415498530" /><a name="_Toc415498301" /><a name="_Toc413337829" /><a name="_Toc412626161" /><a name="_Toc381783343" /><a name="_Toc379874063" /><a name="_Toc355707593" /><a name="_Toc351013974" /><a name="_Toc320264321" /><a name="_Toc318995674" /><a name="_Toc318995472" /><a name="_Toc316896254" /><a name="_Toc312767229" /><a name="_Toc289782410" /><a name="_Toc285698324" /><a name="_Toc285642805" /><a name="_Toc285538671" /><a name="_Toc285477032" /><a name="_Toc285472571" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.12</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Deposits, debt securities issued and subordinated liabilities</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deposits, debt securities issued and subordinated liabilities are the main sources of funding used by the Organization to finance its operations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">They are initially recorded at fair value plus transaction costs and are subsequently measured at amortized cost using the effective interest method.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory', window );">Provisions, contingent liabilities and contingent assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923263" /><a name="_Toc474919314" /><a name="_Toc415565841" /><a name="_Toc415499820" /><a name="_Toc415498655" /><a name="_Toc415498531" /><a name="_Toc415498302" /><a name="_Toc413337830" /><a name="_Toc412626162" /><a name="_Toc381783344" /><a name="_Toc379874064" /><a name="_Toc355707594" /><a name="_Toc351013975" /><a name="_Toc320264322" /><a name="_Toc318995675" /><a name="_Toc318995473" /><a name="_Toc316896255" /><a name="_Toc312767230" /><a name="_Toc289782411" /><a name="_Toc285698325" /><a name="_Toc285642806" /><a name="_Toc285538672" /><a name="_Toc285477033" /><a name="_Toc285472572" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.13</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Provisions, contingent liabilities and contingent assets</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">A provision is recognized when, as a result of a past event, the Organization has a present legal or constructive obligation that can be reliably estimated and it is probable that an outflow of resources will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Provisions were established by Management whenever it considers that there is a probable loss taking into account the opinion of their legal advisors; the nature of the actions; the similarity to previous suits; the complexity and the positioning of the Courts. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent Liabilities are not recognized, since their existence will only be confirmed by the occurrence or not of one or more future and uncertain events that are not totally under the control of the Management. Contingent liabilities do not meet the criteria for recognition, since they are considered as possible losses and should only be disclosed in explanatory notes, when relevant. Obligations classified as remote are neither provisioned nor disclosed.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contingent assets are recorded only when there are real guarantees or favorable and non-appealable court decisions, and when the gain is considered to be virtually certain. Contingent assets for which the expectation is the outcome will be favorable are only disclosed in the financial statements, when material. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></b></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts', window );">Classification of insurance contracts and investments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923264" /><a name="_Toc474919315" /><a name="_Toc415565842" /><a name="_Toc415499821" /><a name="_Toc415498656" /><a name="_Toc415498532" /><a name="_Toc415498303" /><a name="_Toc413337831" /><a name="_Toc412626163" /><a name="_Toc381783345" /><a name="_Toc379874065" /><a name="_Toc355707595" /><a name="_Toc351013976" /><a name="_Toc320264323" /><a name="_Toc318995676" /><a name="_Toc318995474" /><a name="_Toc316896256" /><a name="_Toc312767231" /><a name="_Toc289782412" /><a name="_Toc285698326" /><a name="_Toc285642807" /><a name="_Toc285538673" /><a name="_Toc285477034" /><a name="_Toc285472573" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.14</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Classification of insurance contracts and investments</font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">An insurance contract is a contract in which the Organization accepts a significant insurance risk from the policy holder by agreeing to compensate the policyholder if a specific, uncertain, future event adversely affects the policy holder. Reinsurance contracts are also treated as insurance contracts because they transfer significant insurance risk. Contracts in the Insurance segment classified as investment contracts are related to our capitalization bonds, which do not transfer significant insurance risk and are accounted for as financial instruments in accordance with IAS 39 - Financial Instruments.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForInsuranceAndPensionPlanTechnicalProvisionsTextBlock', window );">Insurance and pension plan technical provisions</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-21.25pt;"><a name="_Toc474923265" /><a name="_Toc474919316" /><a name="_Toc415565843" /><a name="_Toc415499822" /><a name="_Toc415498657" /><a name="_Toc415498533" /><a name="_Toc415498304" /><a name="_Toc413337832" /><a name="_Toc412626164" /><a name="_Toc381783346" /><a name="_Toc379874066" /><a name="_Toc355707596" /><a name="_Toc351013977" /><a name="_Toc320264324" /><a name="_Toc318995677" /><a name="_Toc318995475" /><a name="_Toc316896257" /><a name="_Toc312767232" /><a name="_Toc289782413" /><a name="_Toc285698327" /><a name="_Toc285642808" /><a name="_Toc285538674" /><a name="_Toc285477035" /><a name="_Toc285472574" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.15</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Insurance and pension plan technical provisions</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Property damage</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Provision for Unearned Premiums (PPNG) is calculated on a daily pro-rata basis using premiums net of coinsurance premiums, including amounts ceded through reinsurance operations, and the value registered in the consolidated statement of financial position corresponds to the unexpired risk period of the insurance contracts less initial contracting costs. </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The portion of these reserves corresponding to the estimate for risks in effect on contracts that have been issued but are not yet fully binding is designated &#8216;PPNG-RVNE&#39;</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Provision for Incurred But Not Reported (IBNR) is constituted based on the claims incurred and not yet paid (IBNP), subtracting the balance of the Provision for Claims to be settled (PSL) at the base date of calculation. To calculate the IBNP, the final estimate of claims that have not yet been paid based on semiannual run-off triangles, which consider the historical development of the claims paid in the last 10 semesters for the branches of damages and the last 11 quarters for the extended guarantee business, in order to establish a future projection by period of occurrence of occurrence and also considers the estimate of claims Incurred But Not Enough Reported (IBNER), reflecting the expectation of alteration of the provisioned amount throughout the regulation process. Until the base date of December 2016, only IBNR was constituted, without IBNER segregation. 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</font><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Life and pension products</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">For private pension products and Life Insurance with Coverage for Survival, </font><font color="#222222" lang="EN" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">the contracts are grouped based on similar risks or when the insurance risk is managed jointly by the Administration.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The cash flows related to future premiums not recorded in the PPNG were only included in the projections when the result of the LAT without these values was negative.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The projected average loss ratio was 42% for individual and collective individuals, obtained from analysis based on triangles for the development of Company claims generated with information from January 2007.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The calculation of LAT made for the base date December 2017, considered the update of the assumption of Rate of Conversion into Income (TCR) of PGBL and VGBL pension plans. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The result of the liability adequacy test for life insurance was fully recognized in the income statement, as set out in SUSEP Circular No. 517/15 (note 35a). </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:2.9pt;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:12.0pt;">&#8226;</font><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Property Coverage</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The expected present value of cash flows relating to claims incurred - primarily claims costs and salvage recoveries - was compared to the technical provisions for claims incurred - PSL and IBNR.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The expected present value of cash flows relating to claims to be incurred on the policies in force, plus any administrative expenses and other expenses relating to products in run-off, was compared to the sum of the related technical provisions - PPNG and PPNG-RVNE.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The projected average loss ratio was 15.19% for the Extended Guarantee segment and 50.21% for the elementary lines, which were strongly influenced by the estimate of the future premium of the housing insurance portfolio, which is characterized by low loss ratio and long terms , since it accompanies the period of financing of the property.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The average reinsurance projected in the study, calculated on the basis of reported claims was 2.05%.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The result of the liability adequacy test, for property coverage, did not present insufficiency and, consequently, no additional PCC provisions were recorded.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory', window );">Reinsurance contracts</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923266" /><a name="_Toc474919317" /><a name="_Toc415565844" /><a name="_Toc415499823" /><a name="_Toc415498658" /><a name="_Toc415498534" /><a name="_Toc415498305" /><a name="_Toc413337833" /><a name="_Toc412626165" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.16</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Reinsurance contracts</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;margin-right:46.75pt;margin-top:0in;"><i><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></i></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Reinsurance contracts are used in the normal course of operations with the purpose of limiting potential losses, by spreading risks. Liabilities relating to contracts that have been reinsured are presented gross of their respective recoveries, which are booked as assets since the existence of the reinsurance contract does not nullify the Organization&#39;s obligations with the insured parties.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">As required by the regulators, reinsurance companies with headquarters abroad must have a minimum rating from a risk classification agency to reinsure risks all other reinsurance operations must be with national missing If there are indications that the amounts recorded will not be realized by its carrying amount, these assets will be adjusted for impairment. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory', window );">Deferred acquisition costs</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923267" /><a name="_Toc474919318" /><a name="_Toc415565845" /><a name="_Toc415499824" /><a name="_Toc415498659" /><a name="_Toc415498535" /><a name="_Toc415498306" /><a name="_Toc413337834" /><a name="_Toc412626166" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.17</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Deferred acquisition costs</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">These comprise deferred acquisition costs including commissions and brokers&#39; fees related to the sale of insurance policies. Deferred commissions are recognized in the consolidated statement of income over the life of the respective policies and pension plan contracts or over an average period of twelve months. Expenses relating to insurance agency operations relating to the sale of health plans are amortized over a twenty-four month period and life assurance expenses are appropriated in the twelve-month period.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory', window );">Financial guarantees</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923268" /><a name="_Toc474919319" /><a name="_Toc415565846" /><a name="_Toc415499825" /><a name="_Toc415498660" /><a name="_Toc415498536" /><a name="_Toc415498307" /><a name="_Toc413337835" /><a name="_Toc412626167" /><a name="_Toc381783347" /><a name="_Toc379874067" /><a name="_Toc355707597" /><a name="_Toc351013978" /><a name="_Toc320264325" /><a name="_Toc318995678" /><a name="_Toc318995476" /><a name="_Toc316896258" /><a name="_Toc312767233" /><a name="_Toc289782414" /><a name="_Toc285698328" /><a name="_Toc285642809" /><a name="_Toc285538675" /><a name="_Toc285477036" /><a name="_Toc285472575" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.18</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Financial guarantees</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160; Financial guarantees are contracts that require the Organization to make specific payments under the guarantee for a loss incurred when a specific debtor fails to make a payment when due in accordance with the terms of the debt instrument.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160; Financial guarantees are initially recognized in the financial statements at fair value on the date the guarantee was given. Subsequent to initial recognition, the Organization&#39;s obligations under such guarantees are measured as the higher of the initial amount, less the accumulated amortization, and the best estimate of the amount required to settle the guarantee if management deems such expenditure to be probable. These estimates are determined based on experience of similar transactions and history of past losses, supplemented by the judgment of Management. The fee income earned is recognized on a straight-line basis over the life of the guarantee. Any increase in the liability relating to guarantees is reported in the consolidated statement of income within &#8220;Other operating income/ (expenses)&#8221;.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Employee benefits</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923269" /><a name="_Toc474919320" /><a name="_Toc415565847" /><a name="_Toc415499826" /><a name="_Toc415498661" /><a name="_Toc415498537" /><a name="_Toc415498308" /><a name="_Toc413337836" /><a name="_Toc412626168" /><a name="_Toc381783348" /><a name="_Toc379874068" /><a name="_Toc355707598" /><a name="_Toc351013979" /><a name="_Toc320264326" /><a name="_Toc318995679" /><a name="_Toc318995477" /><a name="_Toc316896259" /><a name="_Toc312767234" /><a name="_Toc289782415" /><a name="_Toc285698329" /><a name="_Toc285642810" /><a name="_Toc285538676" /><a name="_Toc285477037" /><a name="_Toc285472576" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.19</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Employee benefits</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">IAS 19 establishes that the employer must recognize prospectively the surplus or deficit of its defined benefit plans and post-retirement plans as an asset or an obligation in its consolidated statement of financial position, and must recognize the changes in the financial condition during the year in which the changes occurred, in profit or loss.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Defined contribution plan</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Bradesco and its subsidiaries sponsor pension plans for their employees and Management of the &#8220;Free Benefit Generator Plan (PGBL)&#8221; type. The PGBL is a pension plan with defined contributions which allows financial resources to be accumulated throughout the professional career of the participants based on contributions paid by them and the sponsoring company, the funds of which are invested in an Exclusive Mutual Fund (FIE). The actuarial obligations of PGBL are fully covered by the corresponding FIE. The PGBL is managed by the subsidiaries Bradesco Vida e Previd&#234;ncia S.A.. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:78.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contribution obligations for defined contribution pension plans are recognized as expenses in profit or loss as incurred. Once the contributions are paid, Bradesco, in the capacity of employer, has no obligation to make any additional payment.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In addition to the PGBL previously presented, the participants transferred from the defined benefit plan are assured a deferred proportional benefit until the date of migration. For participants in the defined benefit plan, whether or not transferred to the PGBL, retired participants and pensioners, the present value of the actuarial liabilities of the plan is fully covered by guarantee assets applied in the FIEs.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Defined benefit plans</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization&#39;s net obligation, in relation to the defined benefit plans, refers exclusively to institutions acquired are calculated separately for each plan, estimating the future benefit that the employees have earned in return for their service during the current and prior periods. The benefit is discounted to determine its present value and deducted by the fair value of any plan assets. The discount rate is the yield at the reporting date on &#8220;AA&#8221; credit rated bonds, which have maturity dates approximating the terms of the Organization&#39;s obligations. The calculation is made by an actuary, using the projected unit credit method.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Termination benefits</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Severance benefits are required to be paid when the employment relationship is terminated by the Organization before the employee&#39;s normal date of retirement or whenever the employee accepts voluntary redundancy in return for such benefits.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Benefits which are payable twelve months or more after the reporting date are discounted to their present value.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:46.75pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Short-term benefits</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Benefits such as wages, salaries, social security contributions, paid annual leave and paid sick leave, profit sharing and bonuses (if payable within twelve months of the reporting date) and non-monetary benefits such as health care, etc. are recorded as expenses in the consolidated statement of income, without any discount to present value, if the Organization has a present legal or constructive obligation to pay the amount as a result of past service provided&#160; by the employee and the obligation can be reliably estimated.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForCapitalizationBondsTextBlock', window );">Capitalization bonds</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc285698330" /><a name="_Toc285642811" /><a name="_Toc285538677" /><a name="_Toc285477038" /><a name="_Toc285472577" /><a name="_Toc474923270" /><a name="_Toc474919321" /><a name="_Toc415565848" /><a name="_Toc415499827" /><a name="_Toc415498662" /><a name="_Toc415498538" /><a name="_Toc415498309" /><a name="_Toc413337837" /><a name="_Toc412626169" /><a name="_Toc381783349" /><a name="_Toc379874069" /><a name="_Toc355707599" /><a name="_Toc351013980" /><a name="_Toc320264327" /><a name="_Toc318995680" /><a name="_Toc318995478" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.20</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Capitalization bonds</font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The liability for capitalization bonds is registered in the line &#8216;Other liabilities&#39;. </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial liabilities and revenues from capitalization bonds are accrued at the time bonds are issued. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Bonds are issued according to the types of payments, monthly or single payment. Each bond bears a nominal value and the deposit portion of each payment is remunerated at the referential rate (TR) plus 0.5% per month, which is used to determine the liability.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Capitalization bond beneficiaries are eligible for a prize draw. At the end of a certain period that is determined at the time the capitalization bond is issued, a beneficiary may redeem the nominal value paid plus the referential rate (TR) +0.5% of interest, even&#160; if they have not won in the draw.&#160; These products are regulated by the insurance regulator in Brazil; however, they do not meet the definition of an insurance contract in accordance with IFRS 4 and, therefore, are classified as financial liabilities in accordance with IAS 39.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Unclaimed amounts from &#8220;capitalization plans&#8221; are derecognized when the obligation legally expires, in accordance with IAS 39 as it relates to the derecognition of a financial liability.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Expenses for placement of &#8220;capitalization plans&#8221;, are recognized as they are incurred.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForInterestTextBlock', window );">Description of accounting policy for Interest</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923271" /><a name="_Toc474919322" /><a name="_Toc415565849" /><a name="_Toc415499828" /><a name="_Toc415498663" /><a name="_Toc415498539" /><a name="_Toc415498310" /><a name="_Toc413337838" /><a name="_Toc412626170" /><a name="_Toc381783350" /><a name="_Toc379874070" /><a name="_Toc355707600" /><a name="_Toc351013981" /><a name="_Toc320264328" /><a name="_Toc318995681" /><a name="_Toc318995479" /><a name="_Toc316896261" /><a name="_Toc312767236" /><a name="_Toc289782417" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.21</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Interest</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Interest income and expenses are recognized on an accrual basis in the consolidated statement of income using the effective interest rate method. The effective interest rate is the rate that discounts estimated future cash payments and receipts throughout the expected life of the financial asset or liability (or, when appropriate, a shorter period) to the carrying amount of the financial asset or liability. When calculating the effective rate, the Organization estimates future cash flows considering all contractual terms of the financial instrument, but not future credit losses.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The calculation of the effective interest rate includes all commissions, transaction costs, discounts or bonuses which are an integral part of such rate. Transaction costs are incremental costs directly attributable to the acquisition, issuance or disposal of a financial asset or liability.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory', window );">Fees and commissions</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923272" /><a name="_Toc474919323" /><a name="_Toc415565850" /><a name="_Toc415499829" /><a name="_Toc415498664" /><a name="_Toc415498540" /><a name="_Toc415498311" /><a name="_Toc413337839" /><a name="_Toc412626171" /><a name="_Toc381783351" /><a name="_Toc379874071" /><a name="_Toc355707601" /><a name="_Toc351013982" /><a name="_Toc320264329" /><a name="_Toc318995682" /><a name="_Toc318995480" /><a name="_Toc316896263" /><a name="_Toc312767237" /><a name="_Toc289782418" /><a name="_Toc285698331" /><a name="_Toc285642812" /><a name="_Toc285538678" /><a name="_Toc285477039" /><a name="_Toc285472578" /><a name="_Toc316896262" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.22</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Fees and commissions</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Fees and commission income and expense which are part of and are directly allocable to the effective interest rate on a financial asset or liability are included in the calculation of the effective interest rate.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other fee and commission income, including account service fees, asset management fees, credit card annual charges, and collection and consortium fees are recognized as the related services are rendered. When a loan commitment is not expected to result in the drawdown of a loan, the related commitment fees are recognized on a straight-line basis over the commitment period. Other fees and commissions expense relate mainly to transaction as the services are received.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForNetInsuranceIncomeTextBlock', window );">Net insurance income</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923273" /><a name="_Toc474919324" /><a name="_Toc415565851" /><a name="_Toc415499830" /><a name="_Toc415498665" /><a name="_Toc415498541" /><a name="_Toc415498312" /><a name="_Toc413337840" /><a name="_Toc412626172" /><a name="_Toc381783352" /><a name="_Toc379874072" /><a name="_Toc355707602" /><a name="_Toc351013983" /><a name="_Toc320264330" /><a name="_Toc318995683" /><a name="_Toc318995481" /><a name="_Toc316896264" /><a name="_Toc312767238" /><a name="_Toc289782419" /><a name="_Toc285698332" /><a name="_Toc285642813" /><a name="_Toc285538679" /><a name="_Toc285477040" /><a name="_Toc285472579" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.23</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Net insurance income</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance and coinsurance premiums, net of premiums transferred through coinsurance and reinsurance and related commissions, are recognized as income upon issuance of the respective policies / certificates / endorsements and invoices, or at the beginning of the risk period for cases in which the cover begins before issue date, and accounted for on a straight-line basis, over the duration of the policies, through the upfront recognition and subsequent reversal of the provision for unearned premiums and the deferred acquisition costs.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income from premiums and the acquisition costs related to risks already assumed whose respective policies have not yet been issued are recognized in the consolidated statement of income at the start of the risk coverage period on an estimated basis.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The health insurance premiums are recorded in the premium account (result) or unearned premium or contribution reserve (PPCNG), according to the coverage period of the contracts in effect at the balance sheet date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Revenues and expenses related to DPVAT insurance operations are recorded on the basis of information received from the Seguradora L&#237;der dos Cons&#243;rcios do Seguro DPVAT S.A.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Accepted co-insurance contracts and retrocession operations are recorded on the basis of information received from the lead co-insurer and IRB - Brasil Resseguros S.A., respectively.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Reinsurance operations are recorded based on the provision of accounts, which are subject to review by reinsurers. The deferral of reinsurance premiums granted under proportional contracts is carried out in a manner consistent with the related insurance premium, while the deferral of premiums for non-proportional reinsurance contracts is carried out according to the period of validity of the respective reinsurance contracts.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The receipts from insurance agency operations are deferred and recognized in income linearly, for a period of twenty-four months in health insurance operations and by the term of twelve months in the other operations.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Contributions to pension plans and life insurance premiums with survivor coverage are recognized in income upon their effective receipt.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Income tax and social contribution</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923274" /><a name="_Toc474919325" /><a name="_Toc415565852" /><a name="_Toc415499831" /><a name="_Toc415498666" /><a name="_Toc415498542" /><a name="_Toc415498313" /><a name="_Toc413337841" /><a name="_Toc412626173" /><a name="_Toc381783353" /><a name="_Toc379874073" /><a name="_Toc355707603" /><a name="_Toc351013984" /><a name="_Toc320264331" /><a name="_Toc318995684" /><a name="_Toc318995482" /><a name="_Toc316896265" /><a name="_Toc312767239" /><a name="_Toc289782420" /><a name="_Toc285698333" /><a name="_Toc285642814" /><a name="_Toc285538680" /><a name="_Toc285477041" /><a name="_Toc285472580" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.24</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Income tax and social contribution</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income tax and social contribution deferred tax assets, calculated on income tax losses, social contribution losses and temporary differences, are recorded in &#8220;Other Receivables - Sundry&#8221; and the deferred tax liabilities on tax differences in lease depreciation (applicable only for income tax),<br /> mark-to-market adjustments on securities, restatement of judicial deposits, among others, are recorded in &#8220;Other Liabilities - Tax and Social Security&#8221;.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deferred tax assets on temporary differences are realized when the difference between the accounting treatment and the income tax treatment reverses. 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For the period between September 2015 and December 2018, the rate was changed to 20%, according to Law n</font><sup><u><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">o</font></u></sup><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> 13,169/15, returning to the rate of 15% as from January 2019. 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The Organization believes that its accruals for tax liabilities are adequate for all open tax years based on its assessment of various factors, including interpretations of tax law and prior experience. This assessment relies on estimates and assumptions and may involve judgments about future events. 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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory', window );">Segment reporting</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc316896266" /><a name="_Toc316896267" /><a name="_Toc316896268" /><a name="_Toc316896269" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.25</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">&#160;<a name="_Toc474923275" /><a name="_Toc474919326" /><a name="_Toc415565853" /><a name="_Toc415499832" /><a name="_Toc415498667" /><a name="_Toc415498543" /><a name="_Toc415498314" /><a name="_Toc413337842" /><a name="_Toc412626174" /><a name="_Toc381783354" /><a name="_Toc379874074" /><a name="_Toc355707604" /><a name="_Toc351013985" /><a name="_Toc320264332" /><a name="_Toc318995685" /><a name="_Toc318995483" /><a name="_Toc316896270" /><a name="_Toc312767240" /><a name="_Toc289782421" /><a name="_Toc285698334" /><a name="_Toc285642815" /><a name="_Toc285538681" /><a name="_Toc285477042" /><a name="_Toc285472581" />Segment reporting</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Information for operating segments is consistent with the internal reports provided to the Executive Officers (being the Chief Operating Decision Makers), which are comprised by the Chief Executive Officer, Executive Vice-Presidents, Managing Directors and Deputy Directors. The Organization operates mainly in the banking and insurance segments. The banking operations include operations in retail, middle market and corporate activities, lease, international bank operations, investment banking and private banking. The Organization&#39;s banking activities are performed through its own branches located throughout the country, in branches abroad and through subsidiaries, as well as by means of our shareholding interest in other companies. The insurance segment consists of insurance operations, supplementary pension plans and capitalization plans which are undertaken through a subsidiary, Bradesco Seguros S.A., and its subsidiaries.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DescriptionOfAccountingPolicyForEquityTextBlock', window );">Equity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-21.25pt;"><a name="_Toc474923276" /><a name="_Toc474919327" /><a name="_Toc415565854" /><a name="_Toc415499833" /><a name="_Toc415498668" /><a name="_Toc415498544" /><a name="_Toc415498315" /><a name="_Toc413337843" /><a name="_Toc412626175" /><a name="_Toc381783355" /><a name="_Toc379874075" /><a name="_Toc355707605" /><a name="_Toc351013986" /><a name="_Toc320264333" /><a name="_Toc318995686" /><a name="_Toc318995484" /><a name="_Toc316896271" /><a name="_Toc312767241" /><a name="_Toc289782422" /><a name="_Toc285698335" /><a name="_Toc285642816" /><a name="_Toc285538682" /><a name="_Toc285477043" /><a name="_Toc285472582" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">2.26</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Equity</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Preferred shares have no voting rights, but have priority over common shares in reimbursement of capital, in the event of liquidation, up to the amount of the capital represented by such preferred shares, and the right to receive a minimum dividend per share that is ten percent (10%) higher than the dividend distributed per share to the holders of common shares.</font></p> <h3 style="margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><b><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></i></b></h3> <h3 style="margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;"><a name="_Toc474923277" /><a name="_Toc474919328" /><a name="_Toc415565855" /><a name="_Toc415499834" /><a name="_Toc415498669" /><a name="_Toc415498545" /><a name="_Toc415498316" /><a name="_Toc413337844" /><a name="_Toc412626176" /><a name="_Toc381783356" /><a name="_Toc379874076" /><a name="_Toc355707606" /><a name="_Toc351013987" /><a name="_Toc320264334" /><a name="_Toc318995687" /><a name="_Toc318995485" /><a name="_Toc316896272" /><a name="_Toc312767242" /><a name="_Toc289782423" /><a name="_Toc285698336" /><a name="_Toc285642817" /><a name="_Toc285538683" /><a name="_Toc285477044" /><a name="_Toc285472583" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;">(i)</font><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;">Share issue costs</font></h3> <h3 style="margin-bottom:.0001pt;margin-left:28.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><b><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></i></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Incremental costs directly attributable to the issuance of shares are shown net of taxes in equity, thus reducing the initial share value.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;"><a name="_Toc474923278" /><a name="_Toc474919329" /><a name="_Toc415565856" /><a name="_Toc415499835" /><a name="_Toc415498670" /><a name="_Toc415498546" /><a name="_Toc415498317" /><a name="_Toc413337845" /><a name="_Toc412626177" /><a name="_Toc381783357" /><a name="_Toc379874077" /><a name="_Toc355707607" /><a name="_Toc351013988" /><a name="_Toc320264335" /><a name="_Toc318995688" /><a name="_Toc318995486" /><a name="_Toc316896273" /><a name="_Toc312767243" /><a name="_Toc289782424" /><a name="_Toc285698337" /><a name="_Toc285642818" /><a name="_Toc285538684" /><a name="_Toc285477045" /><a name="_Toc285472584" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;">(ii)</font><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;">&#160; </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;">Earnings per share</font></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization presents basic and diluted earnings per share data. Basic earnings per share is calculated by dividing the net income attributable to shareholders of the Organization by the weighted average number of shares outstanding during the year, excluding the average number of shares purchased by the Organization and held as treasury shares. Diluted earnings per share are the same as basic earnings per share, as there are no potentially dilutive instruments.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;"><a name="_Toc474923279" /><a name="_Toc474919330" /><a name="_Toc415565857" /><a name="_Toc415499836" /><a name="_Toc415498671" /><a name="_Toc415498547" /><a name="_Toc415498318" /><a name="_Toc413337846" /><a name="_Toc412626178" /><a name="_Toc381783358" /><a name="_Toc379874078" /><a name="_Toc355707608" /><a name="_Toc351013989" /><a name="_Toc320264336" /><a name="_Toc318995689" /><a name="_Toc318995487" /><a name="_Toc316896275" /><a name="_Toc312767244" /><a name="_Toc289782425" /><a name="_Toc285698338" /><a name="_Toc285642819" /><a name="_Toc285538685" /><a name="_Toc285477046" /><a name="_Toc285472585" /><a name="_Toc316896274" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;">(iii)</font><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;"> </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;">Dividends payable</font></h3> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:28.4pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Dividends on shares are paid and provisioned during the year. In the Meeting of Shareholders are destined at </font><font color="black" lang="EN" style="font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;">least the equivalent of 30% of the annual net income, in accordance with the </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">the Company&#39;s Bylaws</font><font color="black" lang="EN" style="font-family:Univers 45 Light;font-size:10.0pt;line-height:115%;">. </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Dividends approved and declared after the reporting date of the financial statements, are disclosed in the notes as subsequent events.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <h3 style="margin-bottom:.0001pt;margin-left:60.4pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-indent:-17.85pt;"><a name="_Toc474923280" /><a name="_Toc474919331" /><a name="_Toc415565858" /><a name="_Toc415499837" /><a name="_Toc415498672" /><a name="_Toc415498548" /><a name="_Toc415498319" /><a name="_Toc413337847" /><a name="_Toc412626179" /><a name="_Toc381783359" /><a name="_Toc379874079" /><a name="_Toc355707609" /><a name="_Toc351013990" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:12.0pt;font-style:normal;font-weight:normal;line-height:115%;">(iv)</font><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;font-weight:normal;line-height:115%;"> </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;font-weight:normal;line-height:115%;">Capital transactions</font></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Capital transactions are transactions between partners qualified as investment owners. These transactions modify the equity held by the controlling shareholder in a subsidiary. Since there is no loss of control, the difference between the amount paid and the fair value of the transaction is recognized directly in equity.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p><span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Capitalization bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Consolidation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Deposits, debt securities issued and subordinated liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Insurance and pension plan technical provisions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DescriptionOfAccountingPolicyForNetInsuranceIncomeTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Net insurance income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DescriptionOfAccountingPolicyForRecentAcquisitionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of accounting policy for Recent Acquisitions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DescriptionOfAccountingPolicyForRecentAcquisitionsTextBlock</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SignificantAccountingPoliciesPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant Accounting Policies (Policies) [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SignificantAccountingPoliciesPoliciesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant Accounting Policies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SignificantAccountingPoliciesTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for costs related to acquisition of customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForCustomerAcquisitionCostsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for fee and commission income and expense. [Refer: Fee and commission income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial guarantees. [Refer: Guarantees [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of non-financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for insurance contracts and related assets, liabilities, income and expense. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for intangible assets and goodwill. [Refer: Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for non-current assets or disposal groups classified as held for sale. [Refer: Non-current assets or disposal groups classified as held for sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForReinsuranceExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for repurchase and reverse repurchase agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRepurchaseAndReverseRepurchaseAgreementsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830463856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesTablesAbstract', window );"><strong>Significant Accounting Policies (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SummarizedBalanceForTheAcquisitionTextBlock', window );">Summarized balance for the acquisition</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">See below the summarized balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) at the date of acquisition:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:446.200012pt;"> <tr style="height:14.15pt;"> <td width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td colspan="3" valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:4.8pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;page-break-inside:avoid;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Accounting</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustments </font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair Value (1)</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and cash equivalents</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,476,708</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Desposits with the central banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,895,767</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,364,585</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,650,016)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,714,569</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,881,824</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,745,717</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,450</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,411</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,861</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Property and equipment, net of accumulated depreciation </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,175,554</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">622,246</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,800</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">558,015</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,551,758</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,808,692</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">848,699</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,657,391</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,808,801)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,766,587)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,790,048)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from securities issued</font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,187,105)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(64,701)</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,251,806)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,401,348)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions </font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> <td valign="bottom" width="16%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,429,291)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(42,242,831)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sub-total</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,066,683</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.65pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="50%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;margin-right:5.65pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Total amount of s</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">hareholders&#39; equity acquired</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</font></p><span></span>
</td>
</tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfAssetsExplanatory', window );">The fair value of the</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The fair value of the consideration transferred was composed as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:43.4pt;width:442.799988pt;"> <tr style="height:14.15pt;"> <td width="83%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Payment to HSBC Latin America Holding Limited, net of adjustment after closure <sup>(1)</sup></font></p> </td> <td valign="bottom" width="17%" style="height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,665,367</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Adjustment to the cost acquisition related to the fair value of the firm commitment<sup> (2)</sup></font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> </font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,623,103</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="83%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:6.25pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in .85pt 0in .85pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:5.65pt;margin-top:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:5.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0pt;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes the IOF collection, and withholding Income Tax; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2) Includes the results from changes to the fair value </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;"> h</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">ired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInAssociatesExplanatory', window );">The value of the investment</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In December 2016, Bradesco, based on a study report on purchase price allocation ("PPA"), prepared by a contracted specialized and independent company, made the allocation of the fair value of assets acquired and liabilities assumed by HSBC Brasil, as follows: </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="89%" style="border-collapse:collapse;margin-left:45.95pt;"> <tr style="height:14.15pt;"> <td width="84%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholders&#39; equity acquired</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,294,301</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of assets acquired and liabilities assumed</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(221,361)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets acquired</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill in the acquisition of the "HSBC Bank" and "HSBC Servi&#231;os" investments</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="84%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value of the consideration transferred</font></b></p> </td> <td valign="bottom" width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 3.4pt 0in 3.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,288,470</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory', window );">The main subsidiaries</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:45.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main subsidiaries included in the consolidated financial statements are as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Base_de_Consolidacao_Controladas" width="99%" style="border-collapse:collapse;margin-left:.5in;width:99.94%;"> <tr style="height:12.2pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Base_de_Consolidacao_Controladas" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Activity</font></b></p> </td> <td rowspan="3" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Country</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">December 31</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Alvorada S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Financiamentos S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Boavista Interatl&#226;ntico S.A. (1)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Argentina S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Argentina</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.99%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Europa S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Luxembourg</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BERJ S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradescard S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco BBI S.A. (1)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment bank</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.85%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.81%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Bradesco Cart&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cards</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Administradora de Cons&#243;rcios Ltda. </font><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradseg Participa&#231;&#245;es S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Auto/RE Cia. de Seguros</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Capitaliza&#231;&#227;o S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Odontoprev S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dental care</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Leasing S.A. Arrendamento Mercantil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leasing</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Sa&#250;de S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance / Health</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Seguros S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesplan Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">BRAM - Bradesco Asset Management S.A. DTVM</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset Management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tempo Servi&#231;os Ltda.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Services</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Uni&#227;o Participa&#231;&#245;es Ltda.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banco Losango S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Administradora de Cons&#243;rcios Ltda (2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium management</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Bank Brasil S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Capitaliza&#231;&#227;o S.A. (3)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">99.97%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Seguros S.A. (4) (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.54%</font></p> </td> <td width="13%" style="background:#BFBFBF;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98.08%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Vida e Previd&#234;ncia S.A.</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pension plan/Insurer</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> <td width="13%" style="height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> <tr style="height:12.2pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Kirton Participa&#231;&#245;es e Investimentos Ltda (5)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Holding</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazil</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.00%</font></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:4.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">In November, 2017, Banco Boavista Interatl&#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; 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</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Increase in interest by means of subscription of shares in July 2017; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:60.55pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(5)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Company merged into Kirton Seguros S.A., in July 2017.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B4<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B4_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6889416096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingAbstract', window );"><strong>Risk Management (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCreditRiskExposureExplanatory', window );">Credit risk exposure of the financial instruments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We present below the credit risk exposure of the financial instruments.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Exposicao_Risco_Credito" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Exposicao_Risco_Credito" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">599,199,362</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">497,974,002</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total items recorded in the balance sheet (1)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,100,876,068</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,074,213,502</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total items not recorded in the balance sheet (Note 41)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,089,393</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,298,033</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total risk exposure</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,383,965,461</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,390,511,535</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsTextBlock', window );">Derivative Financial Instruments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Derivative Financial Instruments</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Inst_Financeriros_Derivativos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Inst_Financeriros_Derivativos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Traded in the stock exchange</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,120</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,068,418</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">OTC contract</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,778,765</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,687,024</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock', window );">Portfolio of loans and advances to banks as rated internally.</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We present below the portfolio of loans and advances to banks as rated internally by the Organization:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Low risk</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,253,205</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,845,534</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheOrganizationsLoansAndAdvancesToCustomersTextBlock', window );">The Organization's loans and advances to customers are classified as &#8220;impaired&#8221;</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization&#39;s loans and advances to customers are classified as &#8220;impaired&#8221; when they fall in at least one of the following situations: (a) are delinquent more than 90 days, except for housing loan operations secured by residential property (overdue more than 180 days) and/or; (b) have incurred a loss and/or; (c) have been renegotiated and/or; (d) have been reclassified as a higher risk level; and/or (e) have been subject to bankruptcy events. The internal models used by the Organization are based on client or product.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Neither past due nor impaired (i)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">321,595,918</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,337,152</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due but not impaired (ii)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,684,314</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,612,906</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impaired (iii)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total loans and advances to customers</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedTextBlock', window );">Loans and advances to customers neither past due nor impaired</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;"><a name="_Toc284697568" /><a name="_Toc474923292" /><a name="_Toc474919343" /><a name="_Toc415565870" /><a name="_Toc415499849" /><a name="_Toc415498684" /><a name="_Toc415498560" /><a name="_Toc415498331" /><a name="_Toc413337859" /><a name="_Toc412626191" /><a name="_Toc381783371" /><a name="_Toc379874091" /><a name="_Toc355707621" /><a name="_Toc351014002" /><a name="_Toc320264348" /><a name="_Toc318995702" /><a name="_Toc318995500" /><a name="_Toc316896287" /><a name="_Toc312767254" /><a name="_Toc289782435" /><a name="_Toc285698351" /><a name="_Toc285642832" /><a name="_Toc285538697" /><a name="_Toc285477058" /><a name="_Toc285472597" /><a name="_Toc284885062" /><a name="_Toc316896286" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">(i)</font></b><b><font color="windowtext" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to customers neither past due nor impaired </font></b></h3> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Nao_Vencidos" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Low risk</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,535,667</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">325,170,838</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Medium risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,895,319</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,269,218</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">High risk</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,164,932</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,096</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">321,595,918</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,337,152</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheIndividuallyMaterialLoansAndAdvancesTextBlock', window );">The individually material loans and advances</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The individually material loans and advances may be presented in this category when, based on the individual analysis, it is not necessary to record an individual impairment loss and, accordingly, the asset is then subject to a collective loss analysis.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Vencidos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Vencidos" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due up to 60 days</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,177,461</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,737,697</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due between 61 and 90 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,302,186</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,608,305</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due for more than 90 days</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">204,667</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,904</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,684,314</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,612,906</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedTextBlock', window );">Loans and advances to customers impaired</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:68.05pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;text-indent:-25.5pt;"><a name="_Toc474923294" /><a name="_Toc474919345" /><a name="_Toc415565872" /><a name="_Toc415499851" /><a name="_Toc415498686" /><a name="_Toc415498562" /><a name="_Toc415498333" /><a name="_Toc413337861" /><a name="_Toc412626193" /><a name="_Toc381783373" /><a name="_Toc379874093" /><a name="_Toc355707623" /><a name="_Toc351014004" /><a name="_Toc320264350" /><a name="_Toc318995704" /><a name="_Toc318995502" /><a name="_Toc316896290" /><a name="_Toc312767256" /><a name="_Toc289782437" /><a name="_Toc285698353" /><a name="_Toc285642834" /><a name="_Toc285538699" /><a name="_Toc285477060" /><a name="_Toc285472599" /><a name="_Toc284885064" /><a name="_Toc284697570" /><a name="_Toc316896289" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">(iii)</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;font-style:normal;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Loans and advances to customers impaired</font></b></h3> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Portfolio not yet due</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,342,024</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,567,703</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due up to 60 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,915,081</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,067,322</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="#333333" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due between 61 and 90 days</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,279,795</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,284,035</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Past due for more than 90 days</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,996,533</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,214,755</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesImpairedByCategoryTextBlock', window );">Loans and advances impaired by category</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The following table presents the loans and advances impaired by category:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Por_Modalidade" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc285698354" /><a name="_Toc285642835" /><a name="_Toc285538700" /><a name="_Toc285477061" /><a name="_Toc285472600" /><a name="_Toc284885065" /><a name="_Toc284697571" /><a name="IFRS_Emp_e_Adiant_Por_Modalidade" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,158,265</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,962,131</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Working capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,052,758</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,940,498</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personal credit</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,632,789</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,951,949</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Housing loans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,071,447</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,553,802</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financing and export</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,770,221</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,456,658</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicles - CDC (Direct consumer credit)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,333,748</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,651,852</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rural loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,699</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">946,282</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending BNDES/Finame</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">780,985</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,052,671</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for individuals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">638,506</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">882,992</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisition of assets</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">295,944</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">459,574</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for corporates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,271</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">406,296</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,559,800</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,869,110</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,533,433</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,133,815</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesMadeAndOurAnalysisOfOurPortfolioOfRenegotiatedLoansAndAdvancesToCustomersTextBlock', window );">Changes made and our analysis of our portfolio of renegotiated loans and advances to customers</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The following table shows changes made and our analysis of our portfolio of renegotiated loans and advances to customers:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Clientes_Renegociados" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Clientes_Renegociados" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Opening balance</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,501,423</font></b></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,728,723</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional renegotiated amounts, including interest</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,185,863</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,777,814</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments received</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,108,040)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,997,802)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,395,377)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,007,312)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Closing balance</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,183,869</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,501,423</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,853,777)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,346,397)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances to customers, net of impairment at the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,330,092</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,155,026</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63.2%</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59.1%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances as a percentage of the total loan portfolio</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.6%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.8%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9%</font></p> </td> </tr> </table><span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock', window );">Concentration of credit risk in loans and advances</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h3 style="margin-bottom:.0001pt;margin-left:70.9pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><a name="_Toc285698355" /><a name="_Toc285642836" /><a name="_Toc285538701" /><a name="_Toc285477062" /><a name="_Toc285472601" /><a name="_Toc284885066" /><a name="_Toc284697572" /><a name="_Toc279663382" /><a name="_Toc474923297" /><a name="_Toc474919348" /><a name="_Toc415565875" /><a name="_Toc415499854" /><a name="_Toc415498689" /><a name="_Toc415498565" /><a name="_Toc415498336" /><a name="_Toc413337864" /><a name="_Toc412626196" /><a name="_Toc381783376" /><a name="_Toc379874096" /><a name="_Toc355707626" /><a name="_Toc351014007" /><a name="_Toc320264353" /><a name="_Toc318995707" /><a name="_Toc318995505" /><a name="_Toc316896293" /><a name="_Toc312767259" /><a name="_Toc289782439" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;font-style:normal;line-height:115%;">Concentration of credit risk in loans and advances </font></b></h3> <h3 style="margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:0in;page-break-after:auto;text-align:justify;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:11.0pt;font-style:normal;line-height:115%;">&#160;</font></b></h3> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Concen_de_Risco_Cred" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Concen_de_Risco_Cred" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Largest borrower</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.5%</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.3%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10 largest borrowers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.2%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20 largest borrowers</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.2%</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.6%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50 largest borrowers</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.8%</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18.5%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100 largest borrowers</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22.2%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23.0%</font></p> </td> </tr> </table><span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheCreditriskConcentrationAnalysisTextBlock', window );">The credit-risk concentration analysis presented</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The credit-risk concentration analysis presented below is based on the economic activity sector in which the counterpart operates.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emp_e_Adiant_Setor_Atividade" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emp_e_Adiant_Setor_Atividade" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 - R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">%</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Public sector</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,676,927</font></b></p> </td> <td valign="bottom" width="9%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.6</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,813,581</font></b></p> </td> <td valign="bottom" width="11%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.2</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Oil, derivatives and aggregate activities</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,410,382</font></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.5</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,813,581</font></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Production and distribution of electricity</font></p> </td> <td valign="bottom" width="14%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,322</font></p> </td> <td valign="bottom" width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="14%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other industries</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">265,223</font></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.1</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="52%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Private sector</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">364,136,738</font></b></p> </td> <td valign="bottom" width="9%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97.4</font></b></p> </td> <td valign="bottom" width="14%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">383,270,292</font></b></p> </td> <td valign="bottom" width="11%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97.8</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,148,345</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.9</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">212,344,421</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54.2</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate and construction activities</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,383,442</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7.9</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,888,418</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.6</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,935,638</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6.4</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,346,471</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6.5</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Services</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,996,533</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.8</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,172,147</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.6</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation and concession</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,190,284</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.8</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,044,780</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.3</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Automotive</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,014,454</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,148,526</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.4</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Food products</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,866,028</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.4</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,870,635</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.8</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Wholesale</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,045,916</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.4</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,704,646</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Production and distribution of electricity</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,360,804</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.0</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,255,265</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Siderurgy and metallurgy</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,001,290</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,800,237</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.0</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sugar and alcohol</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,042,811</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,514,693</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.9</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other industries</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,311,145</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14.8</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,598,603</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Individuals</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">173,988,393</font></b></p> </td> <td valign="bottom" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46.5</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,925,871</font></b></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.6</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total portfolio</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="52%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of net loans and advances to customers</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock', window );">Financial assets and liabilities subject to compensation</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The table below presents financial assets and liabilities subject to compensation.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:70.9pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:559.500000pt;"> <tr style="height:11.6pt;"> <td colspan="4" rowspan="3" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="7" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="48%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial assets, gross</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount offset in the Balance Sheet</font></b></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments</font></p> </td> <td colspan="3" width="17%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="2" width="16%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="3" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="50%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="9" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial liabilities, gross</font></b></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount offset in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="50%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="8" width="49%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" rowspan="3" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="8" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="8" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial assets, gross</font></b></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount not cleared in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments</font></p> </td> <td colspan="5" width="19%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td colspan="2" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> <td colspan="2" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="51%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="10" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount of financial liabilities, gross</font></b></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related amount not cleared in the Balance Sheet</font></b></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net amount</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td colspan="4" width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> <td colspan="5" width="19%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td colspan="4" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> <td colspan="5" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> </tr> <tr style="height:0;"> <td width="49%"></td> <td width="1%"></td> <td width="1%"></td> <td width="1%"></td> <td width="15%"></td> <td width="1%"></td> <td width="1%"></td> <td width="1%"></td> <td width="14%"></td> <td width="2%"></td> <td width="14%"></td> </tr> </table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioTextBlock', window );">Financial Exposure - Trading Portfolio</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc282513956" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial Exposure - Trading Portfolio (Fair value)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Exp_Financeira_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc282513957" /><a name="IFRS_Exp_Financeira_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed rates</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,614,849</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,184,099</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,026,609</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,806,553</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">IGP-M (General Index of market pricing) / IPCA (Consumer price index)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,053,893</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">532,957</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">330,819</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">404,612</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,808,598</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,658,084</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">997,507</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">878,284</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,808,598</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,715</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,005,349</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,024,526</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">461,957</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">468,911</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">560,619</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,252</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,301,628</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">906,361</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">257,537</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,517</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,421</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,566,051</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,406,535</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,880,333</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,020,336</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheDayVarOfTradingPortfolioNetOfTaxEffectsTextBlock', window );">The 1-day VaR of Trading Portfolio net of tax effects</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The 1-day VaR of Trading Portfolio net of tax effects in end of 2017 was R$ 14,417 thousand, with the interest rate risk as the largest participation of the portfolio. </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_VaR_Modelo_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_VaR_Modelo_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed rates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,956</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,704</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">IGP-M (General Index of market pricing) / IPCA (Consumer price index)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,751</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">416</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,925</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">826</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,230</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">289</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Correlation/diversification effect</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,379)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,892)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR at the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,417</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average VaR in the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,024</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,910</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum VaR in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,499</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,408</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum VaR in the year</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100,640</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,726</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheCapitalIsCalculatedByTheNormalDeltaVarModelBasedInRegulatoryPortfolioTextBlock', window );">The capital is calculated by the normal delta VaR model based in Regulatory Portfolio</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The capital is calculated by the normal delta VaR model based in Regulatory Portfolio, composed by Trading Portfolio and the Foreign Exchange Exposures and the Commodities Exposure of the Banking Portfolio. In addition, the historical simulation and the Delta-Gama-Vega models of risk are applied to measure all risk factors to an options portfolio, whichever is the most conservative. In this model, risk value is extrapolated to the regulatory</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> horizon<sup>(<a href="#_ftn1" name="_ftnref1"><font style="font-family:Times New Roman,serif;vertical-align:super;"><font style="font-family:Times New Roman,serif;vertical-align:super;"></font></font></a></sup></font><sup><a href="#_ftn1" name="_ftnref1"><font style="font-family:Times New Roman,serif;vertical-align:super;"><font style="font-family:Times New Roman,serif;vertical-align:super;"><u><font color="blue" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">[1]</font></u></font></font></a><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">)</font></sup><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> (at least ten days) </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">by the &#8216;square root of time&#39; method. VaR and Stressed VaR shown below refer to a ten-day horizon and are net of tax effects.</font><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;"> </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_VaR_Modelo_Carteira_Regulatoria" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc282513958" /><a name="IFRS_VaR_Modelo_Carteira_Regulatoria" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk factors</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stressed</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stressed</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,659</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,400</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,231</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">149,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange rate</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,715</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,300</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,966</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,713</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commodity price (Commodities)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,110</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,065</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,400</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Correlation/diversification effect</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,429</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">240</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,872)</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,296)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">VaR at the end of the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,978</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,540</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,337</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,489</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average VaR in the year</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,358</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,059</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,249</font></p> </td> <td width="13%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">179,169</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum VaR in the year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,945</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,803</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,810</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,230</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum VaR in the year</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">369,342</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,895</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,105</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">247,814</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ThePossibleImpactsOnPositionsInStressScenariosTextBlock', window );">The possible impacts on positions in stress scenarios</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The Organization also assesses on a daily basis, the possible impacts on positions in stress scenarios for the next 20 business days, with limits established in the governance process. Thus, considering the effect of diversification between the risk factors and the tax effects, the average of the possible loss estimates in a stress situation would be R$ 168,751&#160;</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> in 2017 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(2016 - R$&#160;198,274 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">, and the maximum estimated loss in the year of 2017 would be R$ 387,884 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(2016 - R$ 371,395 </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">thousand</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Estresse_Carteira_Trading" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Estresse_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,949</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">338,004</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,751</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,274</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minimum in the year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,426</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,152</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maximum in the year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">387,884</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">371,395</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioTextBlock', window );">Sensitivity Analysis - Trading Portfolio</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity Analysis - Trading Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Carteira_Trading" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="6" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Carteira_Trading" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading Portfolio (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in fixed interest rates and interest rate coupons</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(359)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(61,497)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(120,385)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,074)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(293,350)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(568,367)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in price index coupon rates</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,576)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(33,298)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,723)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,174)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in foreign currency coupon rates</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(839)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(437)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign currency</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to exchange rate variations</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,629)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,736)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(81,473)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(106)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,649)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,297)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variation in stock prices</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,215)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,378)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(60,757)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in the interest rate of securities traded on the international market</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,469)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(61,730)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(123,461)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,464)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,649)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,751)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="32%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure not classified in other definitions</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(39)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total excluding correlation of risk factors</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,828)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,337)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420,213)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,672)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(311,614)</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(606,065)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total including correlation of risk factors</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,448)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(131,662)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(259,684)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,058)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(295,900)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(574,058)</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Values net of taxes.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioTextBlock', window );">Sensitivity Analysis - Trading and Banking Portfolio</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity Analysis - Trading and Banking Portfolio</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Cart_Trading_Banking" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="6" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Cart_Trading_Banking" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;&#160;</font></b></p> </td> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading and Banking Portfolios (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Scenarios</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in fixed interest rates and interest rate coupons</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,579)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,339,939)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,560,181)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,994)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,466,388)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,786,687)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in price index coupon rates</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(512)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(56,130)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(107,716)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,255)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,224,208)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,264,187)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange coupon</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in foreign currency coupon rates</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,575)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(80,110)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(158,548)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(455)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49,446)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(93,726)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign currency</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to exchange rate variations</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(600)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,004)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,008)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(867)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,663)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(43,327)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variation in stock prices</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,289)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(407,237)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(814,475)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,817)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(370,420)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(740,841)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sovereign/Eurobonds and Treasuries</font></p> </td> <td width="32%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure subject to variations in the interest rate of securities traded on the international market</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,978)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(205,764)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(406,054)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,786)</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,940)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,801)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="32%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure not classified in other definitions</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(307)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(613)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(55)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total excluding correlation of risk factors</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,545)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,104,491)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,077,595)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,175)</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,148,093)</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,961,624)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total including correlation of risk factors</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,956)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,678,101)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,232,466)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,893)</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,691,157)</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,090,253)</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Values net of taxes.</font></p><span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheLevelOfTheRatioBetweenHighQualityLiquidAssetsAndTotalNetCashOutflowsTextBlock', window );">The level of the ratio between high quality liquid assets and total net cash outflows</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">In accordance with the LCR implantation schedule, the level of the ratio between HQLA and total net cash outflows must comply with the following schedule:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="586" style="border-collapse:collapse;margin-left:42.55pt;width:439.250000pt;"> <tr style="height:14.15pt;"> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year</font></b></p> </td> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></b></p> </td> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:2.85pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">As of 2019</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">% Required</font></b></p> </td> <td valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">70%</font></p> </td> <td valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">80%</font></p> </td> <td valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">90%</font></p> </td> <td valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">100%</font></p> </td> </tr> </table><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAverageLcrPrudentialConglomerateTextBlock', window );">The average LCR Prudential Conglomerate</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below shows the average LCR Prudential Conglomerate:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td colspan="6" width="100%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="100%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Information on the Liquidity Coverage Ratio (LCR)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="3" width="44%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 (1)</font></b></p> </td> <td colspan="2" width="25%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 (2)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td colspan="2" width="25%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average Amount (3)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted Average Amount (4)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Average Amount (3)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted Average Amount (4)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">High Quality Liquid Assets (HQLA)</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">1</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total High Quality Liquid Assets (HQLA)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,596,242</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,652,484</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash Outlows</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">2</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail funding:</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">210,005,411</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,749,477</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,352,566</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,702,571</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Stable funding</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,661,528</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,783,076</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">140,847,861</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,225,436</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Less stable funding</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,343,883</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,966,401</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,504,705</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,477,135</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-collateralized wholesale funding:</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">112,474,083</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,716,519</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,652,197</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,853,687</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Operating deposits (all counterparties) and affiliated cooperative deposits</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,152,936</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">407,647</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,226,398</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">192,711</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-operating deposits (all counterparties)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,275,838</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,263,563</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,809,211</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,044,388</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other non-collateralized wholesale funding</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,045,309</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,045,309</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">616,588</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">616,588</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collateralized wholesale funding</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,656,909</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,808,725</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional requirements:</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,751,894</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,746,422</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,952,624</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,328,908</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to exposure to derivatives and other collateral requirements</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,192,265</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,089,564</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,283,688</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,017,294</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to funding losses through the issue of debt instruments</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">345,574</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">345,574</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,682</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,332</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Related to lines of credit and liquidity</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">82,214,055</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,311,284</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,635,254</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,305,282</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other contractual obligations</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,492,461</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,811,462</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,749,147</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,749,147</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other contingent obligations</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,133,680</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,160,312</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">156,190,246</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,581,011</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16</font></b></p> </td> <td width="44%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total cash outflows</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">122,841,100</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,024,048</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of Line</font></b></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash Inflows</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:7.0pt;">17</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collateralized loans</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,500,640</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">189,610,077</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">937,935</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outstanding loans whose payments are fully up-to-date</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,424,050</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,009,387</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,529,539</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,090,950</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other cash inflows</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,624,328</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,429,233</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,079,562</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,347,511</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20</font></b></p> </td> <td width="44%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total cash inflows</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,549,018</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,438,620</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">248,219,178</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,376,396</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Adjusted Amount (5)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Adjusted Amount (5)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21</font></p> </td> <td width="44%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total HQLA</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,596,242</font></p> </td> <td width="12%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,652,484</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22</font></p> </td> <td width="44%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total net cash outflow</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,402,480</font></p> </td> <td width="12%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,647,652</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23</font></b></p> </td> <td width="44%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">LCR (%) (5)</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">156.2%</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">181.8%</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;">&#160;</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Calculated based on the simple daily average of the months that compose the quarter (61 observations);</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">2)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">3)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corresponds to the total balance related to the item of cash inflows or outflows;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">4)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corresponds to the value after application of the weighting factors; and</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">5)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corresponds to the calculated value after the application of weighting factors and limits.</font></p><span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheCashFlowsPayableForNonderivativeFinancialLiabilitiesTextBlock', window );">The cash flows payable for non-derivative financial liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below presents the cash flows payable for non-derivative financial liabilities, covering the remaining contractual period to maturity as from the date of the consolidated statement of financial position. The values disclosed in this table represent the undiscounted contractual cash flows.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:617.000000pt;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="12" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td colspan="2" rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">197,275,471</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,199,209</font></p> </td> <td colspan="2" width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,240,285</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,251,295</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,593,477</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,559,737</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,846,015</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,519,939</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,476,264</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,861,185</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,268</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">272,820,671</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,346,915</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,222,173</font></p> </td> <td colspan="2" width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,548,689</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,143,455</font></p> </td> <td colspan="2" width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,503,901</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,765,133</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">896,349</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,705,136</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,942,643</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,064,409</font></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,166,577</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,775,114</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (1)</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.606.124 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.785.744 </font></p> </td> <td colspan="2" width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.290.146 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.711.492 </font></p> </td> <td colspan="2" width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.046.006 </font></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">62.439.512 </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">386.970.874 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.432.201 </font></b></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">142.498.027 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">240.031.836 </font></b></p> </td> <td colspan="2" width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">45.427.229 </font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">865.360.167 </font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="61%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="10" width="61%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="10" width="61%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td colspan="2" rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,104,038</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,369,626</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,893,343</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,316,125</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,602,647</font></p> </td> <td colspan="2" width="11%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,285,779</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">137,186,325</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,655,017</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,460,997</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,377,222</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,507</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">250,783,068</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,239,074</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,971,886</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,896,618</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">91,190,406</font></p> </td> <td colspan="2" width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,850,999</font></p> </td> <td colspan="2" width="11%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">194,148,983</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">439,974</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,268,618</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,958,373</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,756,298</font></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,110,903</font></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,534,166</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (1)</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,547,649</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,025,726</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,516,140</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,837,647</font></p> </td> <td colspan="2" width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,663,580</font></p> </td> <td colspan="2" width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,590,742</font></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td colspan="2" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">355,517,060</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,290,873</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">177,725,471</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,477,698</font></b></p> </td> <td colspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,331,636</font></b></p> </td> <td colspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">894,342,738</font></b></p> </td> <td width="1%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:0;"> <td width="1%"></td> <td width="37%"></td> <td width="1%"></td> <td width="10%"></td> <td width="1%"></td> <td width="9%"></td> <td width="1%"></td> <td width="10%"></td> <td width="10%"></td> <td width="1%"></td> <td width="11%"></td> <td width="1%"></td> <td width="13%"></td> <td width="1%"></td> <td><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheDerivativeFinancialLiabilitiesThatWillBeSettledAtNetValueTextBlock', window );">The derivative financial liabilities that will be settled at net value</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below analyzes the derivative financial liabilities that will be settled at net value, grouped based on the period remaining from the reporting date to the respective maturity date. The values disclosed in the table are undiscounted cash flows.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Differential of swaps payable</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">279,134</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,468</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">536,406</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,169,717</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,038</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,276,763</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-deliverable forwards</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,115</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,761</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">147,710</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,682</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">737</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,005</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Purchased</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,599</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,513</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">90,914</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,640</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">737</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">284,403</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Sold</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,516</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,248</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,796</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,042</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,602</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums of options</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">551,220</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,510</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,443</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63,052</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,200</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">965,425</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment payables - future</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,305</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,305</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of derivative liabilities</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,774</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">234,739</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">718,559</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,299,451</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">469,975</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,909,498</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 1 month</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 3 months</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 3 months to 1 year</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Differential of swaps payable</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,426,666</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,769</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">546,569</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,695,486</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,285</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,021,775</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-deliverable forwards</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,772,919</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,887</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">542,923</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,670</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">547</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,739,946</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Purchased</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">212,953</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,669</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">534,800</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,289</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">547</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,155,258</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226; Sold</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,966</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,218</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,123</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,381</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,584,688</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums of options</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,945</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,342</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,154</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,217</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,658</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment payables - future</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,164</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,164</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of derivative liabilities</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,369,694</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">476,998</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,129,646</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,897,373</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,832</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,043,543</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheFinancialAssetsAndLiabilitiesOfTheOrganizationSegregatedByMaturitiesTextBlock', window );">The financial assets and liabilities of the Organization segregated by maturities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the financial assets and liabilities of the Organization segregated by maturities used for the management of liquidity risks, in accordance with the remaining contractual maturities on the reporting date:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_BP_por_Prazos_Atual" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="5" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_por_Prazos_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 30 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31 to 180 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181 to 360 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,181,714</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,934,575</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,501,249</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,527,365</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,173,284</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,391,854</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,422,266</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,392,915</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,351,886</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,816,085</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,391,763</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,753</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,454</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,205</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,284,940</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,691,766</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,977,537</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,922,357</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,543,922</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,965,417</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,565,940</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,975,173</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,136,673</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,544,426</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,387,187</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,754,483</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">424,955</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,830,036</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,715,548</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,526,092</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,151,120</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,535,303</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets (1)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,375,820</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,340,567</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,807,856</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,322,882</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,872,358</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,719,483</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">229,674,750</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">217,852,842</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,137,397</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">408,822,292</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">167,655,369</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,429,661</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,126,572,311</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">197,177,061</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,640,587</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,589,994</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,221,075</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,328,751</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">142,525,722</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,400,607</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,531,633</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,523,112</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,371</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,552,386</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,643</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,073</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,649</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">305,248</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,422,727</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,299,770</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,540,240</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,142,979</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">768,374</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">738,929</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,428,997</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">640,536</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,767,242</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,603,697</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,499,559</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,411,996</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">939,034</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,239,001</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (3)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,606,124</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,785,744</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,290,146</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,711,492</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,046,006</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,439,512</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">608,522,508</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,169,344</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,612,656</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,739,550</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,079,447</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,049,123,505</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> </td> <td colspan="7" width="73%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="5" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_por_Prazos_Anterior" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="73%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td rowspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 30 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31 to 180 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181 to 360 days</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1 to 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">More than 5 years</font></b></p> </td> <td rowspan="2" width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and balances with banks</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,475,080</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,768,610</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,759,221</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,589,655</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,837,056</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,710,224</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,629,209</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,660</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,149,003</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,251,675</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,143,446</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments held to maturity</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,932,440</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,069,588</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,646,950</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,394,834</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,904,827</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,753,065</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,586,901</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,286,577</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,759,292</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,545,217</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,120,712</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,398,574</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,341</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,151,213</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,409,338</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,879,049</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,744,273</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,119,161</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial assets (1)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,657,932</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">633,472</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,442</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,384,379</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,207,966</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,171,191</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,874,327</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,879,131</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,100,254</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">394,054,061</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,978,459</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,527,785</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,098,414,017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">162,977,360</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">63,417,792</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,850,717</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,045,413</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,371,400</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,662,682</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">137,252,829</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,331,311</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,457,530</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,641,804</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,455</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,747,929</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities held for trading</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,428,599</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">534,525</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">279,662</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">192,649</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">243</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,295,059</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,280,096</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,140,968</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,237,747</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,148,068</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">426,665</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,904,856</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,068,023</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,554,158</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,657,362</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans (2)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,739,608</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,342,339</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,306,760</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,451,293</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial liabilities (3)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,547,649</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,025,726</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,516,140</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,837,647</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,663,580</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,590,742</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,667,769</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">140,836,645</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,619,800</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">231,960,711</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,905,108</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,028,990,033</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(1)&#160; Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(2) Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(3) Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAssetsAndLiabilitiesOfTheCompanySegregatedByCurrentAndNoncurrentTextBlock', window );">The assets and liabilities of the Company segregated by current and non-current</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The tables below show the assets and liabilities of the Organization segregated by current and non-current, on the reporting date:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_BP_Circulante_Nao_Circulante_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_Circulante_Nao_Circulante_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">531,664,989</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">594,907,322</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,126,572,311</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current assets held for sale</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associated companies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premises and equipment</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets and goodwill, net of accumulated amortization</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Taxes to be offset</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,589,981</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,934,594</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,524,575</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,731,911</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,731,911</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,602,669</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,531,835</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,134,504</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,713,623</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">85,067,506</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,781,129</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,378,612</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">679,974,828</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">796,304,508</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">252,818,997</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,049,123,505</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other reserves</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,349,366</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,141,361</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,490,727</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current income tax liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,416,345</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,416,345</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,344</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,215,503</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,251,847</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,460,225</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,917,087</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,377,312</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,262,280</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,273,951</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,536,231</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total equity</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,693,704</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,693,704</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">833,566,788</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,786,652</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"><a name="_Toc279663407" /> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_BP_Circulante_Nao_Circulante_Anteri" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,853,712</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">569,560,305</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,098,414,017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Non-current assets held for sale</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associated companies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premises and equipment</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible assets and goodwill, net of accumulated amortization</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Taxes to be offset</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,114,609</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,608,602</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,723,211</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,116,863</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,116,863</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,278,675</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,720,504</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,999,179</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial assets</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,972,250</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,643,389</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,615,639</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">538,825,962</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">653,203,694</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total financial liabilities</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">766,124,214</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,865,819</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,028,990,033</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other reserves</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,293,374</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,999,035</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,292,409</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current income tax liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,130,286</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,130,286</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred income tax assets</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,943</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,726,005</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,762,948</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,917,264</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">457,509</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,374,773</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total non-financial liabilities</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,377,867</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,182,549</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,560,416</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total equity</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,479,207</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,479,207</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">807,502,081</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">384,527,575</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheCompositionOfTheFinancialAssetsAndLiabilitiesMeasuredAtFairValueTextBlock', window );">The composition of the financial assets and liabilities measured at fair value</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below present the composition of the financial assets and liabilities measured at fair value, classified using the hierarchical levels:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Valor_Justo_Atual" width="99%" style="border-collapse:collapse;width:561.000000pt;"> <tr style="height:11.6pt;"> <td rowspan="3" width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Valor_Justo_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="8" width="57%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGED5" /><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="8" width="57%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,273,452</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,975,816</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4</font></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">202,249,272</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,716,053</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,271,295</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,442</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,339,790</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,952,015</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,396,254</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,348,269</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading securities</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,847,345</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,643,365</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,446</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,843,156</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (assets)</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,601</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,814,312</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,972</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (liabilities)</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,264,124)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,875)</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,274,999)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,601</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(449,812)</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,903)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(408,114)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,237,635</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,123</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,281,758</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,786,078</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,740,856</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,451,696</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,978,630</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,086,454</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,399</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,380,606</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,261,732</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,395,469</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available-for-sale securities</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,421,447</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,099,987</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,891,288</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,841,066</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,841,066</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> <td colspan="3" width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td colspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,283,978</font></b></p> </td> <td colspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,283,978</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="43%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td colspan="2" width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">386,599,371</font></b></p> </td> <td colspan="3" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,293,540</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,238,831</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">447,131,742</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="55%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Valor_Justo_Anterior" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="7" width="55%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="7" width="55%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,346,640</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,756,680</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">79</font></p> </td> <td colspan="2" width="14%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,103,399</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,740,235</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,356,302</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,145</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,383,682</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">470,676</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,129,451</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,600,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,295,403</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,378</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,303,781</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading securities</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">167,846,369</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,250,811</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,224</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">196,384,404</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (assets)</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,632</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,728,802</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments (liabilities)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,427,053)</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,625)</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,435,678)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,632</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,301,749</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,617)</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,319,764</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,149,326</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,702</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,198,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,470,652</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,431,230</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,240,826</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,142,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,157</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">495,886</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,387,158</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,706,578</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,723,825</font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available-for-sale securities</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,471,507</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,633,694</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,013,353</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,812,995</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,812,995</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,557,987</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="2" width="14%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,557,987</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">304,902,495</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,186,254</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,291,960</font></b></p> </td> <td colspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">383,380,709</font></b></p> </td> </tr> <tr style="height:0;"> <td width="43%"></td> <td width="2%"></td> <td width="13%"></td> <td width="1%"></td> <td width="13%"></td> <td width="2%"></td> <td width="12%"></td> <td width="2%"></td> <td width="12%"></td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock', window );">Reconciliation of all assets and liabilities measured at fair value</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below presents a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years 2017 and 2016:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Derivativos_Ativos_Passivos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivativos_Ativos_Passivos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivatives</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">209,210</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,190</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,382)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,274,018</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Included in the statement of income and other comprehensive income</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,155</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,174,225)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,161,070)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,833</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,178,445</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,793</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,194,071</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,633)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(445,173)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(452,834)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer with categories</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">274,001</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(274,001)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer levels</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(205,342)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,356,883)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,562,225)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31,&#160; 2016</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,224</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,013,353</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,617)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,291,960</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Included in the statement of income and other comprehensive income</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,868</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(735,002)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,134)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,908</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,019,844</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,714</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,098,466</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,554)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,406,907)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,432,461)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31,&#160; 2017</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,446</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,891,288</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,903)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,238,831</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheGainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock', window );">The gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities during the years 2017, 2016 and 2015:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Derivados_Ganhos_Perdas_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,967</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,269</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,236</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(917,271)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(927,370)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,868</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(735,002)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,134)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Anterior" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,518</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,164</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,682</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,381,389)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,384,752)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,155</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,174,225)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,161,070)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Derivados_Ganhos_Perdas_Anterior2" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets available for sale</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">440,791</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,399,443</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,840,234</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net trading gains/(losses) realized and unrealized</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,496</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,094,894</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,105,390</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">451,287</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,494,337</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,945,624</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheGainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeForLevelAssetsAndLiabilitiesTextBlock', window );">The gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The tables below show the gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities, which were not settled during the years 2017, 2016 and 2015:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,099)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,363)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="45%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets held for trading</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></b></p> </td> <td rowspan="2" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) due to changes in fair value</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,420</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory', window );">Sensitivity analysis for financial assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><a name="_Toc279663409" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Sensitivity analysis for financial assets classified as Level 3</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Analise_Sensib_Financ_Classif_Atual" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Financ_Classif_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on income (1)</font></b></p> </td> <td colspan="3" width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on shareholders&#39; equity (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,931)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,482)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(63)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,873)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,345)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,269)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,394)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,351)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(33,783)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(67,567)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,825)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(445,615)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(891,231)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Analise_Sensib_Financ_Classif_Anter" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on income (1)</font></b></p> </td> <td colspan="3" width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impact on shareholders&#39; equity (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(271)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(476)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,205)</font></p> </td> <td width="11%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,088)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price indexes</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,047)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,953)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,481)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(487,018)</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(974,037)</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:12.0pt;margin-left:53.45pt;margin-right:21.25pt;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Values net of taxes.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock', window );">Carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below summarizes the carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value, classified using the hierarchical levels:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Book value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; securities purchased under agreements to resell</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,182,489</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,963,782</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Banks (1)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Customers (1)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,633,592</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,633,592</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,716,505</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,716,505</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,760,442</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,760,442</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,890,631</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,890,631</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,012,436</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">51,012,436</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair Value</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Book value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 1</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 2</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Level 3</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets pledged as collateral</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; securities purchased under agreements to resell</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,875,426</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,379,323</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Banks (1)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Customers (1)</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">362,156,027</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">362,156,027</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,497,406</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,497,406</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,662,682</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,224,796</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,224,796</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,747,929</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,622,981</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,622,981</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,436,792</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,436,792</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DetailedInformationOnTheOrganizationsCapitalInComplianceWithThePrudentialConglomerateTextBlock', window );">Detailed information on the Organization's Capital, in compliance with the Prudential Conglomerate</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Following is the detailed information on the Organization&#39;s Capital, in compliance with the </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Prudential</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> Conglomerate:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Detalhamento_PR_Basileia" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="5" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc279663434" /><a name="_Toc474923308" /><a name="_Toc474919359" /><a name="IFRS_Detalhamento_PR_Basileia" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Calculation basis - Capital Adequacy Ratio</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basel III</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier I capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,084,744</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,762,886</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common equity</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">75,079,777</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,747,016</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholders&#39; equity</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">110,457,476</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">100,442,413</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Minority / Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,072</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,615</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential adjustments (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(35,445,771)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,756,012)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additional Capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,004,967</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,015,870</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier II capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,588,090</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,363,950</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debts (Resolution No. 4.192/13)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,947,024</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,803,498</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debts (prior to Resolution No. 4.192/13)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,641,066</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,560,452</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reference Equity (a)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,672,834</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,126,836</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Credit risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,928,771</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">589,977,243</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Market risk</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,908,205</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,767,767</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Operational risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,605,162</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,443,507</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk-weighted assets - RWA (b)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">611,442,138</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">656,188,517</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking Book&#39;s Interest Rate Risk</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,527,467</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,142,339</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Margin (Capital Buffer) (2)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,226,583</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,084,702</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basel ratio (a/b)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.1%</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.4%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tier I capital</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13.1%</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.0%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Principal capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12.3%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11.2%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Additional capital</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">CMN</font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> Resolution n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;4,192/13; and<a name="_Toc474923309" /><a name="_Toc474919360" /></font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;text-indent:-.25in;"><a name="_Toc474923311" /><a name="_Toc474919362" /><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Margin = Minimum (PR - PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DetailedComparisonOfTheRiskweightedAssetsRwaOfThePrudentialConglomerateTextBlock', window );">Detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Below is the detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate, regulatory approach:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Detalhamento_Montante_RWA" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Detalhamento_Montante_RWA" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">RWA</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prudential</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit risk</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,928,771</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">589,977,243</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 0%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 2%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">314,012</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">271,970</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 20%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,224,147</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,725,736</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 35%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,208,602</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,114,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 50%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,635,506</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,434,787</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 75%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,553,059</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,017,519</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 85%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,938,759</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,006,730</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 100%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">261,909,360</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,369,280</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 250%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,139,531</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,655,131</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight of 300%</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,920,531</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,825,567</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Risk Weight up to 1,250%</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,085,264</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,555,933</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Market Risk (1)</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,908,205</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,767,767</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed-rate in Reais</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,696,584</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,537,134</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign Currency Coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">838,259</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,028,051</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Price Index Coupon</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,756,973</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,400</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest Rate Coupon</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,499</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">637,924</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,392</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commodities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">449,546</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,466</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exposure to Gold, Foreign Currencies and Exchange</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,657,957</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,194,380</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Operational Risk</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,605,162</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,443,507</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate Finance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,369,491</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,380,459</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trading and Sales</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,667,449</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,866,659</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,308,681</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,349,268</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;Commercial</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,518,843</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,699,277</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment and Settlement</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,132,749</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,143,694</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial Agent Services</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,628,257</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,465,556</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset Management</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,827,848</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,392,327</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retail Brokerage</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,844</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,266</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Risk Weighted Assets</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">611,442,138</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">656,188,517</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total Capital Requirement</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,558,398</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,798,616</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking Book&#39;s Interest Rate Risk</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,527,467</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,142,339</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Addicional Common equity (ACPS) (2)</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,171,632</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,101,178</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">ACP Conservation</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,643,027</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,101,178</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">ACP Systemic</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,605</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:60.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.</font></p><span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheSensibilityTestForLifeInsuranceWithSurvivalTextBlock', window );">The sensibility test for Life Insurance with Survival</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The sensitivity test for Life Insurance with </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Survival, Welfare Coverage</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> and </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Individual Life Insurance</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;"> was made considering the same bases of the LAT test with variation in the assumptions listed below:</font></p> <p style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sensibilidade_Seg_de_Vida_Premissas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sensibilidade_Seg_de_Vida_Premissas" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Longevity</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Conversion to income</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Percentage adjustment to each assumption:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Variation of</font></b></p> </td> <td rowspan="2" width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:150%;">+0.2 p.p.</font></b></p> </td> <td rowspan="2" width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">+ 5 p.p.</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-5%</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans (contributing period)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(60,733)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,057)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,691)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">PGBL and VGBL (contributing period)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,446)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(504)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,409)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">All plans(retirement benefit period)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(112,782)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(35,507)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(178,961)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,068)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,100)</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ForDamagesLifeAndHealthInsuranceExceptIndividualLifeTextBlock', window );">For damages, life and health insurance, except individual life</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">For damages, life and health insurance, except individual life, the table below shows increase in the events/claims were to rise 1 percentage point over the 12 months from the calculation base date.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Seguros_Sinistralidade" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Seguros_Sinistralidade" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross of reinsurance</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of reinsurance</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,347)</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,205)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,347)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,205)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,940)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,809)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,893)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,333)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,146)</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,358)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,050)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,277)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,923)</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(89,907)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,923)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(89,907)</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory', window );">Potential exposures are monitored, analyzing</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Potential exposures are monitored, analyzing certain concentrations in some type of insurance. The table below shows risk concentration by type of insurance (except health and dental), based on net premiums, net of reinsurance:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net premiums written by type of insurance, net of reinsurance</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,086,705</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,924,444</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,525,848</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,593,662</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,788,420</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,499,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life insurance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,904,576</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,354,034</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">VGBL</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,650,153</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,377,786</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">PGBL</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,301,623</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,386,631</font></p> </td> </tr> </table><span></span>
</td>
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</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amounts and the fair values of the financial assets and liabilities that were not presented in the consolidated statements of financial position at their fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CarryingAmountsAndTheFairValuesOfTheFinancialAssetsAndLiabilitiesThatWereNotPresentedInTheConsolidatedStatementsOfFinancialPositionAtTheirFairValueTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesMadeAndOurAnalysisOfOurPortfolioOfRenegotiatedLoansAndAdvancesToCustomersTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes made and our analysis of our portfolio of renegotiated loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesMadeAndOurAnalysisOfOurPortfolioOfRenegotiatedLoansAndAdvancesToCustomersTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Concentration of credit risk in loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConcentrationOfCreditRiskInLoansAndAdvancesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeFinancialInstrumentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative Financial Instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DetailedComparisonOfTheRiskweightedAssetsRwaOfThePrudentialConglomerateTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Detailed comparison of the risk-weighted assets (RWA) of the Prudential Conglomerate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DetailedComparisonOfTheRiskweightedAssetsRwaOfThePrudentialConglomerateTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DetailedInformationOnTheOrganizationsCapitalInComplianceWithThePrudentialConglomerateTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>detailed information on the Organization's Capital, in compliance with the Prudential Conglomerate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DetailedInformationOnTheOrganizationsCapitalInComplianceWithThePrudentialConglomerateTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets and liabilities subject to compensation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAndLiabilitiesSubjectToCompensationTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialExposureTradingPortfolioTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial Exposure - Trading Portfolio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialExposureTradingPortfolioTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ForDamagesLifeAndHealthInsuranceExceptIndividualLifeTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For damages, life and health insurance, except individual life</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ForDamagesLifeAndHealthInsuranceExceptIndividualLifeTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesImpairedByCategoryTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances impaired by category</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesImpairedByCategoryTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers neither past due nor impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Portfolio of loans and advances to banks as rated internally</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PortfolioOfLoansAndAdvancesToBanksAsRatedInternallyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reconciliation of all assets and liabilities measured at fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis - Trading and Banking Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisTradingPortfolioTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis - Trading Portfolio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingPortfolioTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAssetsAndLiabilitiesOfTheCompanySegregatedByCurrentAndNoncurrentTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The assets and liabilities of the Company segregated by current and non-current</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAssetsAndLiabilitiesOfTheCompanySegregatedByCurrentAndNoncurrentTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAverageLcrPrudentialConglomerateTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average LCR Prudential Conglomerate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAverageLcrPrudentialConglomerateTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheCapitalIsCalculatedByTheNormalDeltaVarModelBasedInRegulatoryPortfolioTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The capital is calculated by the normal delta VaR model based in Regulatory Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows payable for non-derivative financial liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The composition of the financial assets and liabilities measured at fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The credit-risk concentration analysis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The 1-day VaR of Trading Portfolio net of tax effects</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheDayVarOfTradingPortfolioNetOfTaxEffectsTextBlock</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The derivative financial liabilities that will be settled at net value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The financial assets and liabilities of the Organization segregated by maturities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income for Level 3 assets and liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income for Level 3 assets and liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The individually material loans and advances.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The level of the ratio between high quality liquid assets and total net cash outflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheLevelOfTheRatioBetweenHighQualityLiquidAssetsAndTotalNetCashOutflowsTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Organization's loans and advances to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The possible impacts on positions in stress scenarios</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sensibility test for Life Insurance with Survival</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the credit risk exposure. Credit risk exposure is the credit risk inherent in an entity&#8217;s financial assets and commitments to extend credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfCreditRiskExposureExplanatory</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information that enables users of financial statements to evaluate the nature and extent of risks arising from financial instruments to which the entity is exposed. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 145<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_145&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830482528">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Operating segments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformationByOperatingSegmentReviewedTextBlock', window );">Information by operating segment, reviewed</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><a name="_Toc284885145" /><a name="_Toc284327648" /><a name="_Toc285697941" /><a name="_Toc289424823" /><a name="_Toc289782972" /><a name="_Toc284327649" /><a name="_Toc285697942" /><a name="_Toc289424824" /><a name="_Toc289782973" /><a name="_Toc284327650" /><a name="_Toc285697943" /><a name="_Toc289424825" /><a name="_Toc289782974" /><a name="_Toc284327651" /><a name="_Toc285697944" /><a name="_Toc289424826" /><a name="_Toc289782975" /><a name="_Toc284327652" /><a name="_Toc285697945" /><a name="_Toc289424827" /><a name="_Toc289782976" /><a name="_Toc284327653" /><a name="_Toc285697946" /><a name="_Toc289424828" /><a name="_Toc289782977" /><a name="_Toc284327654" /><a name="_Toc285697947" /><a name="_Toc289424829" /><a name="_Toc289782978" /><a 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name="_Toc284327674" /><a name="_Toc285697967" /><a name="_Toc289424849" /><a name="_Toc289782998" /><a name="_Toc284327675" /><a name="_Toc285697968" /><a name="_Toc289424850" /><a name="_Toc289782999" /><a name="_Toc284327676" /><a name="_Toc285697969" /><a name="_Toc289424851" /><a name="_Toc289783000" /><a name="_Toc284327677" /><a name="_Toc285697970" /><a name="_Toc289424852" /><a name="_Toc289783001" /><a name="_Toc284327678" /><a name="_Toc285697971" /><a name="_Toc289424853" /><a name="_Toc289783002" /><a name="_Toc284327679" /><a name="_Toc285697972" /><a name="_Toc289424854" /><a name="_Toc289783003" /><a name="_Toc284327680" /><a name="_Toc285697973" /><a name="_Toc289424855" /><a name="_Toc289783004" /><a name="_Toc284327681" /><a name="_Toc285697974" /><a name="_Toc289424856" /><a name="_Toc289783005" /><a name="_Toc284327682" /><a name="_Toc285697975" /><a name="_Toc289424857" /><a name="_Toc289783006" /><a name="_Toc284327683" /><a name="_Toc285697976" /><a name="_Toc289424858" /><a name="_Toc289783007" /><a name="_Toc284327684" /><a name="_Toc285697977" /><a name="_Toc289424859" /><a name="_Toc289783008" /><a name="_Toc284327685" /><a name="_Toc285697978" /><a name="_Toc289424860" /><a name="_Toc289783009" /><a name="_Toc284327686" /><a name="_Toc285697979" /><a name="_Toc289424861" /><a name="_Toc289783010" /><a name="_Toc284327687" /><a name="_Toc285697980" /><a name="_Toc289424862" /><a name="_Toc289783011" /><a name="_Toc284327688" /><a name="_Toc285697981" /><a name="_Toc289424863" /><a name="_Toc289783012" /><a name="_Toc284327689" /><a name="_Toc285697982" /><a name="_Toc289424864" /><a name="_Toc289783013" /><a name="_Toc284327690" /><a name="_Toc285697983" /><a name="_Toc289424865" /><a name="_Toc289783014" /><a name="_Toc284327691" /><a name="_Toc285697984" /><a name="_Toc289424866" /><a name="_Toc289783015" /><a name="_Toc284327692" /><a name="_Toc285697985" /><a name="_Toc289424867" /><a name="_Toc289783016" /><a name="_Toc284327693" /><a name="_Toc285697986" /><a name="_Toc289424868" /><a name="_Toc289783017" /><a name="_Toc284327694" /><a name="_Toc285697987" /><a name="_Toc289424869" /><a name="_Toc289783018" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Information by operating segment, reviewed by the Organization and corresponding to the years 2017, 2016 and 2015, is shown below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_DRE_Segmento_Atual" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Atual" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2017</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEE7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEF7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEG7" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,997,327</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,857,926</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,787,660</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,642,913</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,143,561</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">787,014</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,181,747)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,011,351</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,641,626</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,869)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,623,108</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(685,560)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,425</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">542,493</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">570,358</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gain / (loss) on held-to-maturity investments</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(54,520)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(54,520)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,422,957</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,422,957</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,694,228</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,595,041</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,624</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,801,893</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,895,929)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,035,094</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,860,835)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,261,590)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,589,077)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,402</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,723,265)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,175,352)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,391,439)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,684,330</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,882,461)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,555,033)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(393,618)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,380,083</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,568,568)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,282,411)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(889,065)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,119</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,133,357)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,170,315)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,263,199)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,265,028</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,168,486)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,664,801</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,976,782</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,383,565</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,025,148</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,497,268</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">217,035</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,162,069</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,193,817</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,387,673</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,743,559</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,289)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,156,153)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,385,514)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,274,780</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,037,664</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,002,159</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,314,603</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,272,962</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,812,425</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,003,977</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,089,364</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,818</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">225,239</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,818)</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">225,239</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">988,063,541</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">295,699,951</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(59,410,052)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,224,353,440</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,364,246</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,847,099</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,039</font></b></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">875,887,257</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">257,329,282</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,556,803)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,106,659,736</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Anterior" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2016</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,156,109</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,374,229</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,132,651</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,662,989</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,696,785</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">651,482</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,007,216)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,051</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,918,934</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,250,639</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,197</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,402,770</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,417,647)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">805,051</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(728,804)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,400)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,757</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,757</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,652,044</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,211,453</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(495,607)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,367,890</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,829,460)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,479,182</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,350,278)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,733,611)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,387,935)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,763</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,003,783)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,979,689)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,331,349)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,475</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,149,563)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,786,599)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(365,656)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,842</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,658,413)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,421,152)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">243,631</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">173,359</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,004,162)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(67,750,511)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,841,309)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,425,621</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(66,166,199)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and Share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,754,427</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,395,855</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,055,449</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,205,731</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,538,058</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,691</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,024)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,292,485</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,564,546</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,048,425</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,905,456</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,995,420)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,915,822)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,001,488)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,297,065</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,648,724</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,046,937</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,992,726</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,293,766</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,550,662</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,821</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,894,249</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,299</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,062</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,884)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,477</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">921,916,290</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,642,197</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,471,169</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,192,029,656</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,512,372</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,617</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,789</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">821,182,152</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">266,143,979</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(775,682)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,086,550,449</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_DRE_Segmento_Anterior2" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year ended December 31, 2015</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operations (1), adjustments and eliminations</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,934,849</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,973,694</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,727,499</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,636,042</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,195,003</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,497,890</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,872,223)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,820,670</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as held for trading</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,199,397)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(627,343)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(425,315)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,252,055)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on financial instruments classified as available for sale</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(370,947)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(353,679)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,816</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(671,810)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net gains/(losses) on foreign currency transactions</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,523,095)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,523,095)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,496,147</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,497,505</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(loss)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,093,439)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,515,125</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(371,141)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,949,455)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,479,985)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,758,833</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,721,152)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personnel expenses</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,103,515)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,217,211)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,679</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,058,047)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other administrative expenses</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,076,913)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,137,706)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">492,649</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,721,970)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation and amortization</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,752,946)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(321,462)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,405</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,942,003)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating income/(expenses)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,726,387)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(963,525)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(298,641)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,988,553)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other operating expense</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,139,746)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,639,904)</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,347,925</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(58,431,725)</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes and Share of profit of associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,103,333)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,346,805</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,832,060</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,075,532</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Share of profit of associates and joint ventures</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,047</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,865</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,139</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,051</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income taxes</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(745,286)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,513,670</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,835,199</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,603,583</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,621,169</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,192,918)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(793,929)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income for the year</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,875,883</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,320,752</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,041,270</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,237,905</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to controlling shareholders</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,874,609</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,215,765</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,042,532</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,132,906</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Attributable to non-controlling interest</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,274</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,987</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,262)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">104,999</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total assets</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">894,579,942</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">209,789,872</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(77,666,292)</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,026,703,522</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investments in associates and joint ventures</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,479,642</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,255,326</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,357</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total liabilities</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">804,576,173</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">188,809,573</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,596,986)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">935,788,760</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net interest income (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923324" /><a name="_Toc284885084" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">6.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net interest income</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Resultado_Liquido_Juros" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Resultado_Liquido_Juros" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar income</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,073,435</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,689,348</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,349,194</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to customers:</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Loans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,767,081</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">69,530,396</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,472,012</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Leasing transactions</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">254,009</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">343,626</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">444,502</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- For trading</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,684,574</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,576,526</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,982,927</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Available for sale</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,351,320</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,572,618</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,629,493</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Held to maturity</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,883,103</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,514,933</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,253,616</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pledged as collateral</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,268,934</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,739,202</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,270,191</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Compulsory deposits with the Central Bank</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,881,319</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,667,516</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,587,412</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other financial interest income</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,553</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,210</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,905</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,232,328</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">147,700,375</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,048,252</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest and similar expenses</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from banks:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Interbank deposits</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(152,550)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(127,617)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(74,814)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Funding in the open market</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,564,515)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,767,039)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,509,785)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Borrowings and onlending</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,068,552)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,865,411)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,092,184)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers:</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Savings accounts</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,730,457)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,712,509)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,450,258)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">- Time deposits</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,536,161)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,746,203)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,942,386)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,262,613)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,124,502)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,570,606)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,100,017)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,298,555)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,669,830)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance technical provisions and pension plans</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,174,550)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,395,550)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,102,347)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(75,589,415)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(91,037,386)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(71,412,210)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,642,913</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,662,989</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,636,042</font></b></p> </td> </tr> </table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetFeeAndCommissionIncomeTextBlock', window );">Net fee and commission income</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923325" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">7.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net fee and commission income</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fee and commission income</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit cards</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,848,855</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,251,963</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,875,029</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current accounts</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,652,711</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,030,640</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,941,947</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Collections</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,965,601</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,777,515</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,573,818</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Guarantees</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,570,522</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,438,409</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,265,356</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset management</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,463,469</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,079,653</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,054,424</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Consortium management</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,526,660</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,278,753</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,040,109</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Custody and brokerage services</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">754,966</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">618,750</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">556,701</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Underwriting</font></i></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,219</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">733,530</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">540,879</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">409,267</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,639</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">382,427</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">755,558</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">758,235</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">626,183</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,087</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,856,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fee and commission expenses</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial system services</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,203)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,203)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net fee and commission income</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,748,828</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,341,051</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,820,670</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6734412976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as held for trading (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTablesAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as held for trading (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingTablesTextBlock', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc284885085" /><a name="_Toc474923326" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">8.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net gains/(losses) on financial instruments classified as held for trading</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ganhos_Perdas_Ativos_Financ" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ganhos_Perdas_Ativos_Financ" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income securities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,862,617</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,654,959</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,174,739)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,426,160)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,887,800</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,267,748)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity securities</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,651</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">860,011</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,190,432</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,623,108</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,402,770</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,252,055)</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830023760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as available for sale (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleTablesAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as available for sale (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsTextBlock', window );">Net gains/(losses) on financial instruments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc284885086" /><a name="_Toc474923327" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">9.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net gains/(losses) on financial instruments classified as available for sale</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ganhos_Perdas_Dispon_Venda" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ganhos_Perdas_Dispon_Venda" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income securities (1)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,963</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,918,595)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(346,032)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity securities (1)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">437,054</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">459,223</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(577,401)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dividends received</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,341</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,972</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,623</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">570,358</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,400)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(671,810)</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale (Tables) [Abstract].</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net income from insurance and pension plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923329" /><a name="_Toc284885089" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">11.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Net income from insurance and pension plans</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Result_Seguros_Previdencia" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Result_Seguros_Previdencia" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Written premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,864,591</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,470,571</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,920,681</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Supplemental pension plan contributions</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,090,043</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,679,922</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,795,219</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Granted coinsurance premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49,715)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(70,862)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(88,612)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refunded premiums</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(667,196)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(746,244)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(522,309)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net written premiums earned</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,237,723</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,333,387</font></b></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,104,979</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reinsurance premiums paid</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(191,088)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(306,265)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(344,199)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Premiums retained from insurance and pension plans</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,046,635</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,027,122</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,760,780</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the provision for insurance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,435,868)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,729,884)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,528,076)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the provision for private pension plans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,369,903)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,052,034)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,757,963)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the technical</font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;"> provisions for insurance and pension plans</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(34,805,771)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,781,918)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,286,039)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reported indemnities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,924,687)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,877,804)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,658,594)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Claims expenses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(36,068)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(119,201)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(69,599)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of ceded coinsurance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,332</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,285</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,053</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of reinsurance</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,913</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,711</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">407,195</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salvage recoveries</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">488,057</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">451,930</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">402,718</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in the IBNR provision</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(274,509)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(204,354)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(892,816)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Retained claims</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,594,962)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,542,433)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,724,043)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commissions on premiums</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,700,131)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,696,002)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,985,426)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of commissions</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,334</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,927</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,700</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fees</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(403,835)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(489,279)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,201,216)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brokerage expenses - private pension plans</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(153,552)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,654)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(188,037)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Changes in deferred commissions</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,728)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224,000)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,786</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Selling expenses for insurance and pension plans</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,405,912)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,547,008)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,253,193)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net income from insurance and pension plans</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,239,990</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,155,763</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,497,505</font></b></p> </td> </tr> </table><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Impairment of loans and advances (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">12.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <a name="_Toc474923330" /></font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Impairment of loans and advances</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and receivables:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment losses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(25,780,383)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,357,042)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,527,976)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of credits charged-off as losses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,034,857</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,507,507</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,144,879</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversal of impairment</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,884,691</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,499,257</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">661,945</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,860,835)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(15,350,278)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,721,152)</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of impairment loss and the reversal of impairment loss. [Refer: Impairment loss; Reversal of impairment loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 126<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_126&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Personnel expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PersonnelExpensesTablesAbstract', window );"><strong>Personnel expenses (Tables) [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PersonnelExpensesTextBlock', window );">Personnel expenses</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923331" /><a name="_Toc284885091" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">13.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Personnel expenses</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Despesas_de_Pessoal" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Despesas_de_Pessoal" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salaries</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,170,556)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,236,617)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,369,727)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefits</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,385,133)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,625,796)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,994,155)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social security charges</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,505,290)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,862,067)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,402,112)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employee profit sharing</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,572,472)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,451,310)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,304,958)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for labor claims</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(927,136)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(663,124)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(853,660)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Training</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(162,678)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(164,869)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(133,435)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,723,265)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(17,003,783)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,058,047)</font></b></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes the effects of the Special Voluntary Termination Plan (Note 43).</font></p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other administrative expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923332" /><a name="_Toc284885092" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">14.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other administrative expenses</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outras_Desps_Adiministrativas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outras_Desps_Adiministrativas" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outsourced services</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,748,308)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,871,194)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,139,058)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Communication</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,684,153)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,653,055)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,427,685)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,117,085)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,612,454)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,222,433)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Advertising and marketing</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(942,851)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,124,659)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(963,308)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset maintenance</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,158,840)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,060,856)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(926,001)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial system</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,033,017)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,047,618)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(830,199)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rental</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,142,166)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,027,561)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,412)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and surveillance</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(818,221)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(736,547)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(606,292)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transport</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(782,444)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(719,842)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(631,085)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Water, electricity and gas</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(405,515)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(384,069)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(339,267)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Advances to FGC (Deposit Guarantee Association)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(418,670)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(355,540)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(303,094)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Supplies</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(263,527)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(321,509)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(315,135)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Travel</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(261,911)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(174,772)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(157,723)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,105,753)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,059,887)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(973,278)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,882,461)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,149,563)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,721,970)</font></b></p> </td> </tr> </table><span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830365568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Depreciation and amortization (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpenseAbstract', window );"><strong>Depreciation and amortization (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepreciationAmortizationTextBlock', window );">Depreciation and amortization</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923333" /><a name="_Toc284885093" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">15.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Depreciation and amortization</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization expenses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,331,240)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,516,777)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,884,281)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation expenses</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,237,328)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,141,636)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,057,722)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,568,568)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,658,413)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,942,003)</font></b></p> </td> </tr> </table><span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Depreciation and amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830135120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operating income/(expenses) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesTablesAbstract', window );"><strong>Other operating income/(expenses) (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesTextBlock', window );">Other operating income/(expenses)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923334" /><a name="_Toc284885094" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">16.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other operating income/(expenses)</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Out_Receitas_Desp_Operacionais" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Out_Receitas_Desp_Operacionais" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax expenses</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,960,618)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,331,651)</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,791,754)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Legal provision</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,238,057)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,927,734)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,439,460)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Variation in monetary liabilities</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,710</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(699,719)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(597,240)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income from sales of non-current assets, investments, and property and equipment, net</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(412,957)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(467,042)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(277,232)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,553,435)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,578,016)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,882,867)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,133,357)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,004,162)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,988,553)</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;text-indent:-.25in;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$&#160;(484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Tables)<br></strong></div></th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationOfIncomeTaxAndSocialContributionChargesTextBlock', window );">Calculation of income tax and social contribution charges</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Calculation of income tax and social contribution charges</font></b></p> <p align="left" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Demons_Calc_Enc_Contrib_Social" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Demons_Calc_Enc_Contrib_Social" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income before income tax and social contribution</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,743,559</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,905,456</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,603,583</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total burden of income tax and social contribution at the current rates (1)</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,684,602)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,357,455)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,321,612)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect of additions and exclusions in the tax calculation:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Earnings (losses) of associates and joint ventures</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">773,285</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">764,876</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">687,623</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest on shareholders&#39; equity (paid and payable)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,241,955</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,139,102</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,305,695</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net tax credit of deferred liabilities (2)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,341,220</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other amounts (3)</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">240,406</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,459,253)</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,621,396</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution for the period</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effective rate</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27.1%</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43.6%</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-89.9%</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;"> 13,169/15; and (iii) of 9% for the other companies (Note 2w);</font></p> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law n</font><sup><u><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">o</font></u></sup><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:106%;">&#160;</font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">13,169/15; and</font></p> <p align="justify" style="margin:0in;margin-bottom:8.0pt;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">(3)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:106%;">&#160;&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:106%;">Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfIncomeTaxAndSocialContributionInTheConsolidatedStatementOfIncomeTextBlock', window );">Composition of income tax and social contribution in the consolidated statement of income</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition of income tax and social contribution in the consolidated statement of income</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Comp_Result_Contrib_Social" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Comp_Result_Contrib_Social" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current taxes:</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution payable</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,788,060)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,852,947)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,075,948)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred taxes:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net Addition/(realization) of temporary differences</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,950,961</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,106,008)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,424,595</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Use of opening balances of:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(430,584)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(647,282)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(127,214)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax loss</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(331,512)</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(879,276)</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(65,224)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Addition on:</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,371</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">234,730</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">272,793</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,868</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">338,053</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">731,419</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Activation of the tax credit - Law No. 13,169/15:</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution loss</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">422,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Temporary additions</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,051,048</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax expense</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,359,104</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,059,783)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,710,270</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,428,956)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,912,730)</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,634,322</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionPresentedInTheConsolidatedStatementOfFinancialPositionTextBlock', window );">Deferred income tax and social contribution presented in the consolidated statement of financial position</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">c)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deferred income tax and social contribution presented in the consolidated statement of financial position</font></b></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:15.95pt;"> <td nowrap="nowrap" width="36%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"><a name="_Toc474923337" /><a name="_Toc474919388" /></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td rowspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEA2" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:23.25pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount recorded</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Realized / Decrease (4)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:23.25pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:23.25pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions of impairment of loans and advances</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,011,653</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,264,028</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,771,818</font></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,503,863</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for contingencies</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,351,234</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,782,500</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,907,251</font></p> </td> <td width="15%" style="background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,226,483</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,488,482</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,724,016</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,268,623</font></p> </td> <td width="15%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,943,875</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,681,457</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,773,082</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,644,973</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,809,566</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total tax assets on temporary differences (3)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,532,826</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,543,626</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,592,665</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,483,787</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses in Brazil and abroad (3)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,595,729</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,239</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">762,096</font></p> </td> <td width="15%" style="background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,872</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of available for sale (3)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,168</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">576,732</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,069,900</font></p> </td> <td width="15%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax assets (2)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,621,723</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,290,597</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,424,661</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,487,659</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred tax liabilities (2)</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></p> </td> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,557,618</font></p> </td> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">817,831</font></p> </td> <td width="15%" style="background:white;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,007,595</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net deferred taxes (2)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,353,915</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,732,979</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,606,830</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,480,064</font></b></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td nowrap="nowrap" width="36%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:15.95pt;"> <td rowspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="RANGEA15" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:34.5pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (1)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount recorded</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Realized / Decrease</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:34.5pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provisions of impairment of loans and advances</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,617,097</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,938,976</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,948,736</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,493,156</font></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,011,653</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for contingencies</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,720,598</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,209,685</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,498,218</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,077,267</font></p> </td> <td width="12%" style="background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,351,234</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,090,939</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,501</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">282,741</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,994,699</font></p> </td> <td width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,488,482</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,511,581</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">440,457</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,135,635</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,406,216</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,681,457</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total tax assets on temporary differences (3)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,940,215</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,698,619</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,865,330</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,971,338</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,532,826</font></b></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses in Brazil and abroad (3)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,761,626</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">787,878</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">572,783</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,526,558</font></p> </td> <td width="12%" style="background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,595,729</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of available for sale (3)</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,704,484</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,120</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">393,369</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,636,805</font></p> </td> <td width="12%" style="height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,168</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution - MP 2,158-35 (change in tax law)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,783</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,783</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total deferred tax assets (2)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,520,108</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,518,617</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,831,482</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,248,484</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,621,723</font></b></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred tax liabilities (2)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,894,367</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,592</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,920,479</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,550,630</font></p> </td> <td width="12%" style="background:#BFBFBF;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></p> </td> </tr> <tr style="height:15.95pt;"> <td width="36%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net deferred taxes (2)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,625,741</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,515,025</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,911,003</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,697,854</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,353,915</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">HSBC Brasil (Note 2a);</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(3)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:17.85pt;text-indent:-17.85pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(4)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsOnTemporaryDifferencesTaxLossAndNegativeBasisOfSocialContributionTextBlock', window );">Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">d)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Prov_Reali_Cred_Trib" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Prov_Reali_Cred_Trib" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="5" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Temporary differences</font></b></p> </td> <td colspan="2" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax and social contribution losses</font></b></p> </td> <td rowspan="3" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income tax</font></b></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social contribution</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,189,592</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,778,522</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">157,668</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,794</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,429,576</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,106,611</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,500,573</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">143,705</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,058</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,830,947</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,444,841</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,163,487</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,825</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,361</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,826,514</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,408,140</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,609,808</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">620,279</font></p> </td> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,041</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,005,268</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534,237</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,470,379</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">732,490</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">478,318</font></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,215,424</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">After 2022</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,100,881</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,176,716</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">824,042</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,078,291</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,179,930</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,784,302</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,699,485</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,009</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,385,863</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,487,659</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxLiabilitiesTextBlock', window );">Deferred tax liabilities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">e)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Deferred tax liabilities</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_Deferidos_Passivos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_Deferidos_Passivos" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Timing differences of depreciation - finance leasing</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,232</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">381,119</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment to market value of securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,215,588</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,404</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Judicial deposit and others</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,508,775</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,673,285</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,007,595</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,267,808</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityTextBlock', window );">Income tax and social contribution on adjustments recognized directly in equity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">f)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Income tax and social contribution on adjustments recognized directly in equity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_IR_CS_Ajuste_Patrim_Liquido" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_IR_CS_Ajuste_Patrim_Liquido" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="9" width="85%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="3" width="28%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Before tax</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax (expense)/ benefit</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net of tax</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets recorded as available for sale</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,418,567</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,231,202)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,187,365</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,298,103</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,587,076)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,711,027</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,677,902)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,273,982</font></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,403,920)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Exchange differences on translations of foreign operations</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,010</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,992</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,002</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(194,566)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,555</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(107,011)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,485</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(57,788)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,697</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,441,577</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,225,210)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,216,367</font></b></p> </td> <td width="8%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,103,537</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,499,521)</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,604,016</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,559,417)</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,216,194</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,343,223)</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation of income tax and social contribution charges</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of income tax and social contribution in the consolidated statement of income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution presented in the consolidated statement of financial position</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected realization of deferred tax assets on temporary differences, tax loss and negative basis of social contribution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax and social contribution on adjustments recognized directly in equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax and social contribution (Tables) [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830254816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per share (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareAbstract', window );"><strong>Earnings per share (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheCalculationOfBasicEarningsPerShareTextBlock', window );">The calculation of basic earnings per share</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The calculation of basic earnings per share was calculated based on the weighted average number of common and preferred shares outstanding, as shown in the calculations below:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016 (1)</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015 (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net earnings attributable to the Organization&#39;s common shareholders (R$ thousand)</font></b></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,157,920</font></b></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,542,147</font></b></p> </td> <td width="15%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,652,905</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net earnings attributable to the Organization&#39;s&#160; preferred shareholders (R$ thousand)</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,931,444</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,352,102</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,480,001</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted average number of common shares outstanding (thousands)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,991</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,991</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,050,156</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Weighted average number of preferred shares outstanding (thousands)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,037,917</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basic earnings per share attributable to common shareholders of the Organization (in Reais)</font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.67</font></p> </td> <td width="15%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.80</font></p> </td> <td width="15%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.84</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Basic earnings per share attributable to preferred shareholders of the Organization (in Reais)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.94</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.08</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.12</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.45pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors&#39; Meeting&#160; of March 10, 2017, in the proportion of one new share for every 10 shares held.</font></p><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6699547104">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cash and cash equivalents (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashAndBalancesWithBanksTextBlock', window );">Cash and balances with banks</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a) Cash and balances with banks</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Caixa_Disp_em_Bancos" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Caixa_Disp_em_Bancos" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in domestic currency</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,939,852</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,432,290</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in foreign currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,088,498</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,085,650</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Compulsory deposits with the Central Bank (1)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,714,226</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,036,531</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">180</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,742,951</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,554,651</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashAndCashEquivalentsTextBlock', window );">Cash and cash equivalents</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><a name="_Toc176337481" /><a name="_Toc474923348" /><a name="_Toc474919399" /><a name="_Toc415565916" /><a name="_Toc415499895" /><a name="_Toc415498730" /><a name="_Toc415498606" /><a name="_Toc415498377" /><a name="_Toc413337905" /><a name="_Toc412626237" /><a name="_Toc381783418" /><a name="_Toc379874138" /><a name="_Toc355707668" /><a name="_Toc351014053" /><a name="_Toc320264389" /><a name="_Toc318995744" /><a name="_Toc316896329" /><a name="_Toc312767295" /><a name="_Toc289782478" /><a name="_Toc285698393" /><a name="_Toc285642874" /><a name="_Toc285538740" /><a name="_Toc284885105" /><a name="_Toc284697611" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Cash and cash equivalents</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Caixa_Equivalente_de_Caixa" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Caixa_Equivalente_de_Caixa" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in domestic currency</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,939,852</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,432,290</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cash and due from banks in foreign currency</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,088,498</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,085,650</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments (1)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,025,717</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">166,712,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">180</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">156,054,442</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,230,427</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:.3pt;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 - R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 - R$ 81,983,717 thousand) as Loans and advances to banks.</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Tables)<br></strong></div></th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingTextBlock', window );">Financial assets held for trading</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a) Financial assets held for trading</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial assets</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">202,249,272</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,103,399</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,348,269</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,600,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt and marketable equity securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,339,790</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,383,682</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mutual funds</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,377,508</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,303,781</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">307</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,358,025</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">528,010</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,390</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,866,885</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,755,442</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaturityTextBlock', window );">Maturity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of up to one year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,617,538</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,002,911</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of one to five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">146,527,365</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,589,655</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of five to 10 years</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,763,561</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,299,698</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity of over 10 years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,409,723</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,537,358</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity not stated</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,391,854</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,710,224</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,710,041</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">213,139,846</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesHeldForTradingTextBlock', window );">Financial liabilities held for trading</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Financial liabilities held for trading</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc176337480" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Derivative financial instruments</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,274,999</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,435,678</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheBreakdownOfTheNotionalAndorContractualValuesAndTheFairValueOfDerivativesHeldForTradingTextBlock', window );">The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading by the Organization is as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc474923350" /><a name="_Toc474919401" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Notional amounts</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset/(liability)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Futures contracts</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Interest rate futures</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,081,180</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,026,397</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,586</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,022</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,837,699</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,677,587</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(154,188)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(19,163)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,376,597</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,399,904</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,243</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,238,635</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,690,018</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,003)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">163,224</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,291</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">162</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,772</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">967</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(114)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Options</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Interest rates</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,663,668</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,467,042</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,214</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">260,565</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,616,129</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,755,788</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(535,748)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(193,768)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,335,027</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,567,515</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">605,028</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">57,533</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,274,094</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,836,294</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(409,587)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(62,356)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">443,443</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,500</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,013</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">228,141</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,188)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,533)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Forward operations</font></b></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; In foreign currency</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,372,477</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,633,033</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">218,019</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,599,401</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,947,271</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,036,706</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(358,995)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,088,041)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Other</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Purchases</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,020</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,911</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">497,987</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,586,061</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sales</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">635,522</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,588,245</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,138)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,581,169)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Swap contracts</font></b></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Asset position</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate swaps</font></i></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,636,856</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">72,297,999</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,065,095</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,799,949</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Currency swaps</font></i></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,161,641</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,276,143</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,340,538</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,645,707</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#8226;&#160;&#160;&#160;&#160; Liability position</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest rate swaps</font></i></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,454,647</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,746,464</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,030,003)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,718,282)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Currency swaps</font></i></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,288,568</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,201,872</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,618,035)</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,766,366)</font></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets and liabilities held for trading (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The breakdown of the notional and/or contractual values and the fair value of derivatives held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830224864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets available for sale (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleTextBlock', window );">Financial assets available for sale</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923351" /><a name="_Toc284885109" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">21.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial assets available for sale</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Financ_Disp_Venda" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Financ_Disp_Venda" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized gains</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized losses</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,822,760</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,881,077</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(422,079)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,281,758</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,875,928</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">836,715</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,734,013)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,978,630</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,251,066</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,142</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(236,355)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,853</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">719,494</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,326</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,693)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">728,127</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign governments securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,210,554</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">175</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,182)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,202,547</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,302,834</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">620,896</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(885,923)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,182,636</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,535,331</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,305,245)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">58,484,065</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,323,156</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(609,193)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,198,028</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,821,686</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,011,275</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,690,253)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,142,708</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,626,211</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">121,745</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(188,913)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,559,043</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">395,626</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,319</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,731)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">401,214</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Marketable equity securities and other stocks</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,966,872</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">389,291</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(538,602)</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,294,460</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,852,786</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,028,692)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities', window );">Maturity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Venda_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Venda_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,635,369</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,167,067</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,690,168</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,905,872</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,579,399</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,816,085</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,071,806</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,251,675</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 5 to 10 years</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,004,079</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,363,350</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,677,065</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,994,970</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over 10 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,660,955</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,028,413</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,888,549</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,148,476</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">No stated maturity</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,302,834</font></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,037,807</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,966,872</font></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,817,561</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,182,636</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,412,722</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">114,294,460</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">113,118,554</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AvailableforsaleFinancialAssetsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a maturity analysis for non-derivative financial liabilities (including issued financial guarantee contracts) that shows the remaining contractual maturities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_39_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAnalysisForNonderivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830147888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments held to maturity (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityTablesAbstract', window );"><strong>Investments held to maturity (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldMaturityTextBlock', window );">Investments held to maturity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923352" /><a name="_Toc284885110" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">22.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Investments held to maturity</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Invest_Mantidos_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Invest_Mantidos_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized gains</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross unrealized losses</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities:</font></b></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,738,940</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,442,844</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(6,489)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,175,295</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,259,564</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,092</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(421,874)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,963,782</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,614</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(420)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,194</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,568,936</font></b></p> </td> <td width="13%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(428,783)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities:</font></b></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,241,947</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,918,273</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(306,566)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,853,654</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,739,187</font></p> </td> <td width="14%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,750</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,388,614)</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,379,323</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,894</font></p> </td> <td width="14%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">878</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,772</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,947,901</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,695,180)</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaturityInvestmentsHeldToMaturityTextBlock', window );">Maturity</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Maturity</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Invest_Vencimento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Invest_Vencimento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="27%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2017</font></b></p> </td> <td colspan="2" width="26%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31, 2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortized cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fair value</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,412</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,998</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 5 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,284,940</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,070,179</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,932,440</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,133,746</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 5 to 10 years</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,933,866</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,840,428</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,068,980</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,905,497</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over 10 years</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,757,900</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,206,666</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,000,608</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,215,506</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,006,118</font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,146,271</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,002,028</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,254,749</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maturity.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Financial assets pledged as collateral (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923353" /><a name="_Toc284885111" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">23.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Financial assets pledged as collateral</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Cedidos_Garantia" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Ativos_Cedidos_Garantia" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held for trading</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,182</font></b></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,282,141</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">801,182</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,282,141</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Available for sale (1)</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,482,796</font></b></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,275,415</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,039,884</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">55,530,423</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Corporate debt securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">825,287</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,899,878</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Bank debt securities</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,904,070</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,742,273</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian sovereign bonds</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">713,555</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,841</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Held to maturity</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">431</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Brazilian government securities</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">431</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank investments (2)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">123,691,195</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">84,728,590</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,975,173</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">155,286,577</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$&#160;557,974 &#160;thousand (2016 - R$ 1,443,642 thousand); and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0pt;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold &#160;in a separate repurchase agreement.</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans and advances to banks (Tables)<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923354" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">24.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to banks</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emprest_Adiant_inst_Financeiras" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emprest_Adiant_inst_Financeiras" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Repurchase agreements</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,045,591</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">85,178,146</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans to financial institutions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,207,614</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,667,388</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,481)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,398)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,247,724</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">94,838,136</font></b></p> </td> </tr> </table><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans and advances to customers (Tables)<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923355" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">25.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to customers</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Emprest_Adiant_Cliente" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Emprest_Adiant_Cliente" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Working capital</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,700,584</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,390,890</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Personal credit (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,570,146</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,255,740</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Housing loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,963,375</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,458,038</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financing and export</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,272,982</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,983,307</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending BNDES/Finame</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,655,666</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,816,560</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,568,984</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,407,733</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicle loans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,741,298</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,699,948</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Rural loans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,642,478</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,422,799</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Import</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,318,042</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,140,346</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for corporates</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,587,239</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,583,285</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receivable insurance premiums</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,301,472</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,517,932</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overdraft for individuals</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,582,020</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,209,637</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leasing</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,249,859</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,738,611</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,659,520</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,459,047</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total portfolio</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">373,813,665</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,083,873</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,055,566)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,780,839)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total of net loans and advances to customers</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">346,758,099</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">367,303,034</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AllowanceForLoansAndAdvancesTextBlock', window );">Allowance for loans and advances to customers</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Allowance for loans and advances to customers</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Perdas_Emp_Adiant_Clientes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Perdas_Emp_Adiant_Clientes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,780,839</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,455,204</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment of loans and advances</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,860,835</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,350,278</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovery of credits charged-off as losses</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,034,857</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,507,507</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,620,965)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,532,150)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,055,566</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,780,839</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvanceToCustomersTextBlock', window );">Loans and advances to customers include the following finance lease receivables</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;text-indent:-7.05pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Loans and advances to customers include the following finance lease receivables.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Arrend_Financeiros_Receber" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Arrend_Financeiros_Receber" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gross investments in financial leases receivable:</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to one year</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,118,286</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,418,546</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From one to five years</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,082,149</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,279,347</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,424</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,718</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment loss on finance leases</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(146,812)</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(186,594)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net investment</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,047</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,552,017</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:7.0pt;">&#160;</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net investments in finance leases:</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to one year</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,034,188</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,300,659</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From one to five years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,021,089</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,212,322</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Over five years</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,770</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,036</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,103,047</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,552,017</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Non-current assets held for sale (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923356" /><a name="_Toc284885112" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">26.</font></b><b><font color="black" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Non-current assets held for sale</font></b></h1> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Ativos_Nao_Correntes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc176337484" /><a name="IFRS_Ativos_Nao_Correntes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets not for own use</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,250,380</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,262,126</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Vehicles and similar</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,774</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">308,357</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Machinery and equipment</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,037</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,529</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,782</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,954</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,520,973</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,578,966</font></b></p> </td> </tr> </table><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in associates and joint ventures (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesTextBlock', window );">Breakdown of investments in associates and joint ventures</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a.</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Breakdown of investments in associates and joint ventures</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Invest_Coligadas_Atual" width="100%" style="border-collapse:collapse;width:876.000000pt;"> <tr style="height:11.6pt;"> <td colspan="2" rowspan="3" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Invest_Coligadas_Atual" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="29" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="4" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A. (2)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,832,660</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,219,202</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">76,403,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,151,540</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,020,292</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,833,491</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,561,394</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,056,077</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.23%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15.23%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">543,025</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,432</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,512,491</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,124,173</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,138,711</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">947,514</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,550,438</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197,846</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (3) (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.28%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.28%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">692,380</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,791</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,389,026</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,224,500</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">615,510</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,263,331</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,609,717</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">287,414</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Aquarius Participa&#231;&#245;es S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">263,630</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,070</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">242,617</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">532,707</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">237,305</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">38</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,878</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">105,649</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(22,637)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,588,848</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,283,453</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,565,394</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">726,468</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,432,770</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(113,185)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,781</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,530</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,871</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,394</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,305</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,320</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">61,185</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">39,498</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (3) (9)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,039</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">221,809</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,788</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,520</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,270</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,384</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tecnologia Banc&#225;ria S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">108,752</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,209</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">242,480</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">75,702</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">590,872</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">496,090</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534,235</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,973</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Swiss Re Corporate Solutions Brasil (Nota 43-5) (3)</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">40.00%</font></p> </td> <td colspan="3" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">40.00%</font></p> </td> <td colspan="3" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">463,400</font></p> </td> <td colspan="4" width="7%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,437)</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,178,209</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,511,924</font></p> </td> <td colspan="3" width="6%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,411,600</font></p> </td> <td colspan="3" width="6%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">437,278</font></p> </td> <td colspan="3" width="6%" style="background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">490,079</font></p> </td> <td width="13%" style="background:white;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(66,093)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Gestora de Intelig&#234;ncia de Cr&#233;dito S.A. (Nota 43-1) (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,513</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,642)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">118,961</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,253</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,594</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,210)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,129</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,361</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,210,958</font></b></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,543,987</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,183,908</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,094,434</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,773,103</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,712,492</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,241,126</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,665,582</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A. (10)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">978,195</font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">162,070</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">420,804</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,776,837</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,763</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,967</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,708</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">324,075</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,231</font></p> </td> <td colspan="4" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,393</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">339,236</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">119,406</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">324,764</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">161,107</font></p> </td> <td width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,786</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(39)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,198</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,612</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,881</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227</font></p> </td> <td width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(78)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,046,426</font></b></p> </td> <td colspan="4" width="7%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">174,424</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">762,238</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,855</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">421,529</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,848</font></b></p> </td> <td colspan="3" width="6%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">180,042</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,783</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2017</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td colspan="4" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,946,146</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,992,289</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">89,194,631</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,720,340</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,421,168</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,014,365</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"><a name="_Toc176337485" /><a name="IFRS_Comp_Invest_Coligadas_Anterior" /> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="28" width="69%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" rowspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="28" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="2" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td colspan="2" rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,108,743</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,204,520</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,699,378</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,654,621</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,004,712</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,167</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,007,233</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">662,460</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,668</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,484,793</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,828,133</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,238,221</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">844,876</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,185</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">646,823</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (3) (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">651,906</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,506</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,343,162</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,021,981</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">429,411</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,166,607</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,045,898</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,829</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Aquarius Participa&#231;&#245;es S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">263,632</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,640</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,233</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">538,267</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,474</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">150,286</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">127,922</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,596</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">493,325</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,041,309</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,243,442</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,980</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">102,251</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,517</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">247,475</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,390</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,890</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,642</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,246</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tecnologia Banc&#225;ria S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24.32%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">98,543</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,232</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">193,546</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,117,398</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">499,341</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">406,459</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">686,800</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">292,862</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,789</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,024)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">171,823</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,780</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">111,755</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">330,985</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,335)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Empresa Brasileira de Solda El&#233;trica S.A. (3) (9)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,168</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,089,246</font></b></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,515,823</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,478,006</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,790,895</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,520,113</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,942</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,725,119</font></b></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,241,924</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">849,355</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">198,457</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">352,179</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,596,527</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,627</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,879</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">396,835</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">64,174</font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,721</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">443,978</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,883</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">317,298</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,026</font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,442</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3</font></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(49)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,538</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,532</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">256</font></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(98)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (3) (8)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(23,227)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="2" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">913,532</font></b></p> </td> <td colspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,902</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">799,695</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,600,410</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">428,457</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">183,161</font></b></p> </td> <td colspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">414,179</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="30%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2016</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td colspan="2" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,277,701</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,391,305</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,948,570</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,942</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,908,280</font></b></p> </td> <td colspan="2" width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,656,103</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="30" width="70%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td rowspan="3" width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Invest_Coligadas_Anterior2" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Companies</font></b></p> </td> <td colspan="30" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:12.2pt;"> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity interest</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shareholding interest with voting rights</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment book value</font></b></p> </td> <td colspan="3" rowspan="2" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income (loss)</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current assets</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures non - current liabilities</font></b></p> </td> <td colspan="3" rowspan="2" width="6%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenue (1)</font></b></p> </td> <td colspan="3" rowspan="2" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and joint ventures net income (loss) for the year</font></b></p> </td> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:12.2pt;"> <td height="16" style="height:12.2pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cielo S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30.06%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,302,071</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,043,743</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,755,540</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,806,140</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,199,287</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,696,767</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,386</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,472,355</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">IRB - Brasil Resseguros S.A. (3) (4)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.51%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">658,949</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,165</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,922</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,768</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,639</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">785</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,144</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">673,650</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fleury S.A. (6)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16.39%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">512,642</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,262</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,124,788</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">268,829</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">299,033</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,408,157</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,845</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,206</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fidelity Processadora S.A. (7)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">254,785</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">68,312</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">450,267</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">402,702</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">332,997</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,546</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,412</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Haitong Banco de Investimento do Brasil S.A.</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">130,248</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,377)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,227,947</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">563,950</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,140,656</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,834,551</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,886)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">41.85%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">83,735</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,660</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">203,030</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,487</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,986</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,590</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,247</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">42,197</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">NCR Brasil S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,357</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,101</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">206,315</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,146</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">134,533</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">71,177</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,492</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Empresa Brasileira de Solda El&#233;trica S.A. (3)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">49.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,954</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,769)</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">101,151</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,161</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,519</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,499</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">115,874</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(11,774)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Integritas Participa&#231;&#245;es S.A. (3) (5)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,778</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,647</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">741,803</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,534</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,066</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">828</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,983</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in associates</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,056,741</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,274,875</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,088,607</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,957,986</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,203,184</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,143,864</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,299,598</font></b></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,360,635</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Elo Participa&#231;&#245;es S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.01%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">686,951</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">243,073</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">223,332</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,438,988</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,169</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,669</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">486,049</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Crediare S.A. - Cr&#233;dito, Financiamento e Investimento</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">65,030</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,400</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">439,594</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,301</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">312,036</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,124</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,800</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">MPO - Processadora de Pagamentos M&#243;veis S.A.</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,551</font></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">716</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">380,801</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,362</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">379,061</font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">313,065</font></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,432</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito (3) (8)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">50.00%</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">52</font></p> </td> <td colspan="3" width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,013)</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,920</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">278</font></p> </td> <td colspan="3" width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,095</font></p> </td> <td colspan="3" width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td colspan="3" width="6%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,790</font></p> </td> <td colspan="3" width="13%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,026)</font></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total investments in joint ventures</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">758,584</font></b></p> </td> <td colspan="3" width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">253,176</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,046,647</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,454,929</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">838,361</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">15</font></b></p> </td> <td colspan="3" width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">487,648</font></b></p> </td> <td colspan="3" width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">506,255</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="29%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total on December 31, 2015</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> <td colspan="3" width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,051</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,135,254</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,412,915</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,041,545</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,143,879</font></b></p> </td> <td colspan="3" width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,787,246</font></b></p> </td> <td colspan="3" width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,866,890</font></b></p> </td> <td height="15" style="height:11.6pt;"></td> </tr> <tr style="height:0;"> <td width="29%"></td> <td width="1%"></td> <td width="1%"></td> <td width="5%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="6%"></td> <td width="1%"></td> <td width="1%"></td> <td width="13%"></td> <td><p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Univers 45 Light;font-size:10.0pt;">&#160;</font></p></td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:3.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:53.5pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Revenues from financial intermediation or services; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(4)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(5)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Partial spin-off in October, 2015;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(6)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&#231;&#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(7)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In January 2016, Aquarius Participa&#231;&#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&#231;os S.A.;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(8)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In April 2016, it was consolidated after acquisition of 50% of the company;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(9)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE - Empresa Brasileira de Solda El&#233;trica S.A.); and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:53.5pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(10)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participa&#231;&#245;es S.A. presented R$ 8,109 thousand of other comprehensive income.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesTextBlock', window );">Changes in associates</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b.</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Changes in associates</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:3.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Moviment_Invest_Coligadas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc284885114" /><a name="IFRS_Moviment_Invest_Coligadas" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Initial balances</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,815,325</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisitions (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">524,155</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">376,434</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Spin-off of associates (2)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(170,006)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,953</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(166,294)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equity in net income of associates</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,718,411</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,725</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Dividends/Interest on capital</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(802,662)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(655,920)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (4)</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(31,868)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(37,122)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,623</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(29,370)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,257,384</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,002,778</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Intelig&#234;ncia de Cr&#233;dito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito);</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">Disposal partial sale of the IRB (Note 43-6);</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2016, the investment of Cia. Leader S.A. Administradora de Cart&#245;es de Cr&#233;dito began to be consolidated after acquisition of 50% of the company; and </font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">(4)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.5pt;line-height:115%;">In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and equipment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;text-indent:-9.0pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;Composition of </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">property and equipment</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> by class</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:35.45pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:4.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Classe_Imobilizado_Uso" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Classe_Imobilizado_Uso" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="4" width="53%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Annual rate</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Accumulated depreciation</font></b></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4%</font></p> </td> <td width="14%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,153,407</font></p> </td> <td width="13%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(483,266)</font></p> </td> <td width="13%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,670,141</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,450,939</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,667,455)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,783,484</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communication systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">349,228</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(213,879)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,349</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,950,625</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,329,028)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,621,597</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,705</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(48,246)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,459</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial leasing of data processing systems</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,431,868</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,231,143)</font></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,200,725</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,405,492</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,973,017)</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td valign="bottom" width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,153,351</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(454,426)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,187,160</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,314,715)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communication systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">325,835</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,974)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,504,229</font></p> </td> <td width="13%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,067,981)</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,436,248</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,639</font></p> </td> <td width="13%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(40,034)</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial leasing of data processing systems</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20%</font></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,229,513</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,047,016)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,182,497</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="47%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,514,262</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(7,117,146)</font></b></p> </td> <td width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangeInPropertyAndEquipmentByClassTextBlock', window );">Change in property and equipment by class</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;text-indent:-28.35pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Change in </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">property and equipment</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;"> by class</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:70.9pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Liquida_Imob_Uso_Classe" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Liquida_Imob_Uso_Classe" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="7" width="66%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Buildings</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Land</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Installations, properties and equipment for use</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Security and communications systems</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Data processing systems (1)</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transportation systems</font></b></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,745</font></b></p> </td> <td width="9%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">117,888</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,777</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">754,606</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,134</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">947,314</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,926</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,897,645</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(53,151)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(86,592)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(323,217)</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,540)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(86,469)</font></p> </td> <td width="9%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(100)</font></p> </td> <td width="11%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(552,069)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(73,568)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,836)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,288)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(79,194)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,840)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(521,663)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(24,270)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(649,583)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,972)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,237,328)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,887</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,815</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,397)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,305</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,670,141</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">982,720</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,783,484</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,349</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,822,322</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,459</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,432,475</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">582,602</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">448,020</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,788,330</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,086</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,556,160</font></b></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">70,237</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,504,435</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (2)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">752,619</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">586,971</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">320,949</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,196</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,065</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,800</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">81,809</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">897</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">974,089</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,721</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,696,318</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,487</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,779,321</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Write-offs</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,341)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,353)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(402,316)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,804)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(62,386)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,627)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(509,827)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(20,543)</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(12,434)</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,977)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Depreciation</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,179)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(466,192)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(21,338)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(610,869)</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,058)</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,141,636)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Transfer</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,415</font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(342,415)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="34%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,698,925</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,027,535</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,872,445</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">132,861</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,618,745</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">46,605</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,397,116</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;Includes financial lease of data processing systems; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.15pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;HSBC Brasil.</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Intangible assets and goodwill (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangeInIntangibleAssetsAndGoodwillByClassTextBlock', window );">Change in intangible assets and goodwill by class</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:39.3pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Change in intangible assets and goodwill by class</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Ativos_Intangiveis_Agio" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Ativos_Intangiveis_Agio" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Goodwill</font></b></p> </td> <td colspan="5" width="52%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Intangible Assets</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Acquisition of financial service rights (1)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><i><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Software (1)</font></i></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Customer portfolio (1)</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,503,457</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,945,244</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,358,923</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,589</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions/(reductions)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,549,335</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,203,313</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(8,944)</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,743,704</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (3)</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,683)</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,683)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,000,894)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,327,456)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,000,234)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,656)</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,331,240)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2017</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,051,898</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,790,418</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,358,689</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,989</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,179,307</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2015</font></b></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">723,526</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,260,033</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,639,825</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">709,463</font></b></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">76,788</font></b></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,409,635</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution (2)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,221,787</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">264,349</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">288,826</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,993,743</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,840</font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,773,545</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions/(reductions)</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">930,190</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,284,041</font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">129,266</font></p> </td> <td width="12%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,343,497</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Impairment (3)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,374)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(212,374)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amortization</font></p> </td> <td width="11%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(951,115)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,055,074)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(344,283)</font></p> </td> <td width="10%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(166,305)</font></p> </td> <td width="12%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,516,777)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on December 31, 2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,503,457</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,945,244</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,358,923</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">44,589</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,797,526</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%; </font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">HSBC Brasil; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Impairment losses were recognized in the consolidated statement of income, within &#8220;Other operating income/(expenses)&#8221;.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfGoodwillBySegmentTextBlock', window );">Composition of goodwill by segment</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><a name="_Toc284885117" /><a name="_Toc474923360" /><a name="_Toc474919411" /><a name="_Toc415565927" /><a name="_Toc415499906" /><a name="_Toc415498741" /><a name="_Toc415498617" /><a name="_Toc415498388" /><a name="_Toc413337916" /><a name="_Toc381783429" /><a name="_Toc379874149" /><a name="_Toc355707679" /><a name="_Toc351014067" /><a name="_Toc320264403" /><a name="_Toc318995758" /><a name="_Toc316896343" /><a name="_Toc312767310" /><a name="_Toc289782494" /><a name="_Toc285698406" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">b) Composition of goodwill by segment</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Agio_Por_Segmento" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Agio_Por_Segmento" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Banking</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,651,347</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,651,347</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance, pension and capitalization bonds</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,966</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,966</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,945,313</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in intangible assets and goodwill by class</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of goodwill by segment</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830277040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsTablesAbstract', window );"><strong>Other assets (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsTextBlock', window );">Other assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923361" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">30.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other assets</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outros_Ativos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outros_Ativos" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign exchange transactions (1)(4)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,279,327</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,455,821</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Debtors for guarantee deposits (2)(4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,840,698</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,372,044</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Negotiation and intermediation of securities (4)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,741,524</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,954,484</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Trade and credit receivables (4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,016,225</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,813,144</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deferred acquisition cost (insurance) - Note 35f</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,108</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other debtors</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,736,743</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,781,206</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Prepaid expenses</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,244,602</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,324,362</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Income receivable (4)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,841,709</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,575,698</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank and interdepartmental accounts</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,480,291</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">949,730</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,602,760</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,193,637</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,853,987</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,170,370</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution&#39;s domestic currency, resulting from exchange sale operations; </font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;line-height:115%;">(4)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Financial assets are recorded at amortized cost.</font></p><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830281872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deposits from banks (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksTablesAbstract', window );"><strong>Deposits from banks (Tables) [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByNatureTextBlock', window );">Composition by nature</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by nature</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Demand deposits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,030,292</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">898,877</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interbank deposits</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,168,625</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">588,872</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities sold under agreements to repurchase</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">233,467,544</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">241,978,931</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Borrowings</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,521,713</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,165,415</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Onlending</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,769,294</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,030,587</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">285,957,468</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">301,662,682</font></b></p> </td> </tr> </table><span></span>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition by nature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830023760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deposits from customers (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomersAbstract', window );"><strong>Deposits from customers (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByNatureDepositsFromCustomersTextBlock', window );">Composition by nature</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by nature </font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Recursos_de_Clientes" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Recursos_de_Clientes" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Demand deposits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,058,324</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,521,234</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Savings deposits</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,332,697</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,088,828</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Time deposits</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">125,617,424</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,137,867</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,008,445</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,747,929</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionByNatureDepositsFromCustomersTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition by nature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830261680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Funds from securities issued (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundsFromSecuritiesIssuedTablesAbstract', window );"><strong>Funds from securities issued (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByTypeOfSecurityIssuedAndLocationTextBlock', window );">Composition by type of security issued and location</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Composition by type of security issued and location</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Comp_Tipo_Papel_Emitido" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Comp_Tipo_Papel_Emitido" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Instruments Issued - Brazil:</font></b></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate credit notes</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,020,911</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,955,574</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Agribusiness notes</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,973,682</font></p> </td> <td width="18%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,116,292</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial bills</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,570,141</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">108,512,908</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">131,564,734</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,584,774</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities - Overseas:</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Euronotes (1)</font></i></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">634,549</font></p> </td> <td width="18%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,785,654</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities issued through securitization - (item (b))</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,606,322</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,286,342</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,240,871</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,071,996</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Structured Operations Certificates</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">368,485</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">445,168</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">135,174,090</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">151,101,938</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAmountsOfTheSecuritiesIssuedByTheSpeTextBlock', window );">The amounts of the securities issued by the SPE</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">We show below the amounts of the securities issued by the SPE, which appear in the &#8220;Funding from issuance of securities&#8221; line item:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="5" valign="bottom" width="58%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td rowspan="2" width="12%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Date of Issue</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Nominal amount</font></b></p> </td> <td rowspan="2" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Maturity</font></b></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td rowspan="11" width="42%" style="border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securitization of the future flow of payment orders received from abroad</font></p> </td> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">06,3,2008</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">836,000</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,5,2017</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,183</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,12,2008</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,168,500</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,2,2019</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,524</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">698,551</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,12,2009</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">89,115</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,2,2020</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,594</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,487</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,8,2010</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">307,948</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,8,2017</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,938</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">29,9,2010</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">170,530</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,8,2017</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,810</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,11,2011</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,860</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,11,2018</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,068</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,989</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,11,2011</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">133,290</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,11,2021</font></p> </td> <td width="11%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">139,678</font></p> </td> <td width="13%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">177,095</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,12,2015</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,480</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,11,2022</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">330,311</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,110</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,12,2015</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">390,480</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,11,2020</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">318,934</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">348,662</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">02,2,2016</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">889,725</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,2,2021</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">871,260</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">872,710</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="12%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,3,2016</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">533,835</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,2,2021</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">521,953</font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">522,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="42%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td valign="bottom" width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,998,763</font></b></p> </td> <td valign="bottom" width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,606,322</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,286,342</font></b></p> </td> </tr> </table> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:2.0pt;line-height:115%;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:46.35pt;margin-right:382.7pt;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Prepaid.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of the securities issued by the SPE</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6703444960">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subordinated debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtTablesAbstract', window );"><strong>Subordinated debt (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfSubordinatedDebtTextBlock', window );">Composition of subordinated debt</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:39.1pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">a)</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Composition of subordinated debt</font></b></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Dividas_Subordinadas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:9.05pt;"> <td rowspan="2" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc289782503" /><a name="_Toc285698414" /><a name="_Toc285642893" /><a name="_Toc285538759" /><a name="_Toc284885124" /><a name="_Toc284697630" /><a name="_Toc311210604" /><a name="_Toc311128505" /><a name="_Toc312767387" /><a name="_Toc311210603" /><a name="_Toc311128504" /><a name="_Toc320264480" /><a name="_Toc318995835" /><a name="_Toc316896420" /><a name="_Toc351014073" /><a name="_Toc474923366" /><a name="_Toc474919417" /><a name="IFRS_Dividas_Subordinadas" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="4" valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31 - R$ thousand</font></p> </td> </tr> <tr style="height:9.05pt;"> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Original term in years</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Nominal amount</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">In Brazil:</font></b></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated CDB:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,000</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,303</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,200</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial bills:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017 (1)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,630,999</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,075,463</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,262,799</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,130,108</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,875,551</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,858</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,139</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,402</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017 (1)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,100</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">95,872</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">141,050</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,757</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">293,357</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,172,835</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,734</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,423,463</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,700</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,801</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,612</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,305,011</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,597,559</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,050,633</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,359,452</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,699,872</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,522,243</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024 (2)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">67,450</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">73,861</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2018</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,000</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">119,417</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">112,038</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">12,735</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,184</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">25,212</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2020</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,556</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,383</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">49,498</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,236</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,027</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,896</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,706,846</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,265,488</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,015,625</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">136,695</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">159,205</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">143,415</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025 (2)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,193,653</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,624,611</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,000</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,125</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,813</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2024</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,924</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,611</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,806</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">400,944</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">457,679</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">417,641</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">19,200</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,429</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">37,191</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">54,143</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">99,338</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">91,314</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2023</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">688,064</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,085</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,011,423</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2025</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">284,137</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,376</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">342,886</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2026</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">361,196</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">438,776</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">392,886</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2027 (2)</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">258,743</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">273,498</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2026</font></p> </td> <td valign="bottom" width="8%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,400</font></p> </td> <td valign="bottom" width="13%" style="border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,271</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,001</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2027</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,046</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">53,996</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">48,566</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2028 (2)</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">74,764</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">77,079</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Perpetual</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,000,000</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,004,967</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,015,870</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal in Brazil</font></b></p> </td> <td valign="bottom" width="8%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,541,679</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">41,155,877</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Overseas:</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2019</font></p> </td> <td valign="bottom" width="8%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,333,575</font></p> </td> <td valign="bottom" width="13%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,520,963</font></p> </td> <td valign="bottom" width="16%" style="height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,482,631</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2022</font></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,886,720</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,697,115</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,333,373</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2021</font></p> </td> <td valign="bottom" width="8%" style="background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11</font></p> </td> <td valign="bottom" width="14%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,766,650</font></p> </td> <td valign="bottom" width="13%" style="background:white;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,419,644</font></p> </td> <td valign="bottom" width="16%" style="background:white;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,639,183</font></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal overseas</font></b></p> </td> <td valign="bottom" width="8%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:#BFBFBF;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,637,722</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,455,187</font></b></p> </td> </tr> <tr style="height:9.05pt;"> <td valign="bottom" width="49%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total (3)</font></b></p> </td> <td valign="bottom" width="8%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="14%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td valign="bottom" width="13%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401</font></b></p> </td> <td valign="bottom" width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:9.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064</font></b></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;"><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subordinated debt transactions that matured in 2017; and </font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:35.45pt;margin-right:0in;margin-top:6.0pt;text-indent:-14.15pt;"><a name="_Toc474923367" /><a name="_Toc474919418" /><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">New issuances of financial bills in 2017, referring to subordinated debt.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetMovementOfSubordinatedDebtTextBlock', window );">Net movement of subordinated debt</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:25.1pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">b)</font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;">Net movement of subordinated debt</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:14.2pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;font-weight:normal;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="662" style="border-collapse:collapse;width:517.099976pt;"> <tr style="height:12.95pt;"> <td rowspan="2" width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Initial balances</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064 </font></b></p> </td> <td width="14%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,282,936 </font></b></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution</font></p> </td> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,401,348 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Issuances</font></p> </td> <td width="16%" style="height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,594,610 </font></p> </td> <td width="14%" style="border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,787,207 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest</font></p> </td> <td width="16%" style="background:#BFBFBF;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,100,017 </font></p> </td> <td width="14%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,298,555 </font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="border-right:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments and other</font></p> </td> <td width="16%" style="height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,126,290)</font></p> </td> <td width="14%" style="border-left:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(9,158,982)</font></p> </td> </tr> <tr style="height:12.95pt;"> <td width="70%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">50,179,401 </font></b></p> </td> <td width="14%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:12.95pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,611,064 </font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of subordinated debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net movement of subordinated debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debt (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract', window );"><strong>Insurance technical provisions and pension plans (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAccountTextBlock', window );">Technical provisions by account</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:7.05pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">a)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by account</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnicas_por_Conta" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc320264487" /><a name="_Toc318995842" /><a name="_Toc316896428" /><a name="_Toc312767392" /><a name="_Toc289782508" /><a name="_Toc285698418" /><a name="_Toc285642897" /><a name="_Toc285538763" /><a name="_Toc284885128" /><a name="_Toc284697634" /><a name="IFRS_Prov_Tecnicas_por_Conta" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" valign="bottom" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance (1)</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and Pension (2)(3)</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Current and long-term liabilities</font></b></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mathematical reserve for unvested benefits</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,051,507</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">912,764</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,818,859</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">184,594,055</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">208,870,366</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">185,506,819</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mathematical reserve for vested benefits</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">265,727</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">210,855</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,367,712</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,989,482</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,633,439</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,200,337</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for claims incurred but not reported (IBNR)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,159,967</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,770,507</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,030,107</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,264,115</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,190,074</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,034,622</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Unearned premium reserve</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,068,716</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,265,155</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">567,369</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">574,544</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,636,085</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,839,699</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for unsettled claims</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,291,432</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,645,468</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,588,489</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,682,147</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,879,921</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,327,615</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reserve for financial surplus</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">514,199</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,505</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">514,199</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">554,505</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other technical provisions</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,996,206</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,048,355</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,369,300</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,328,048</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,365,506</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,376,403</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total reserves</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:.0001pt;margin-top:3.0pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) &#160;&#8220;Other technical provisions&#8221; - Insurance basically refers to the technical provisions of the &#8220;personal health&#8221; portfolio; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)&#160; Includes personal insurance and pension plans; and</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3) &#8220;Other technical provisions&#8221; - Life and Pension Plan mainly includes the &#8220;Reserve for redemption and other amounts to be settled&#8221;, &#8220;Reserve for related expenses&#8221;. </font></p><span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductTextBlock', window );">Technical provisions by product</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">b)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by product</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnica_por_Produto" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Tecnica_por_Produto" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance </font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and Pension (1)</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,754,024</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,559,137</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,754,024</font></b></p> </td> <td width="12%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,559,137</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Auto / Liability Insurance</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,156,847</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,126,232</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,156,847</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,126,232</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">DPVAT (Personal Injury Caused by Automotive Vehicles)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">506,161</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">471,288</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,100</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,944</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">509,261</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">474,232</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,018,884</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,336,759</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,018,884</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,336,759</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">RE (Elementary branch)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,523</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,447</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,523</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,447</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Free Benefits Generating Plan - PGBL</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,087,618</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,605,459</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,087,618</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,605,459</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Free Benefits Generating Life - VGBL</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tradicional plans</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,400,228</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,370,995</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,400,228</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,370,995</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provisions</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="#222222" lang="EN" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">(1) Includes personal and pension insurance operations.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAggregatedProductsTextBlock', window );">Technical provisions by aggregated products</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">c)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Technical provisions by aggregated products</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prov_Tecnicas_Agregadas_Produto" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prov_Tecnicas_Agregadas_Produto" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance - Vehicle, Elementary Lines, Life and Health</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,855,539</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">24,192,807</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance - Life with Survival Coverage (VGBL)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pensions - PGBL and Traditional Plans</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,623,322</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Pensions - Risk Traditional Plans</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,864,524</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,418,926</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansTextBlock', window );">Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(i)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Segs_Planos_Trad_Riscos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Segs_Planos_Trad_Riscos" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,611,733</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,844,231</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) DPVAT insurance</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(473,579)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(333,699)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal at beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,138,154</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,510,532</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,542,623</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,700,765</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of claims, benefits and redemptions</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(27,156,197)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(26,449,844)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">648,898</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,376,701</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Partial spin-off of large risk portfolio</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(961,513)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal at end of the period</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,211,965</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,138,154</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(+) DPVAT insurance</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">508,098</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,579</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">32,720,063</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,611,733</font></b></p> </td> </tr> </table><span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock', window );">Insurance - Life with Survival Coverage (VGBL)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(ii)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Insurance - Life with Survival Coverage (VGBL)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Segs_Vida_Cobertura_Sobrev" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Segs_Vida_Cobertura_Sobrev" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">106,248,597</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receipt of premiums net of fees</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,577,437</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">35,824,651</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of benefits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(28,758)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(47,379)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of redemptions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,985,242)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,674,828)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,468,401</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,660,738</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Others</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,956,372)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,341,040)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">158,746,205</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">138,670,739</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PensionsPgblAndTraditionalPlansTextBlock', window );">Pensions - PGBL and Traditional Plans</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:.75in;margin-right:0in;margin-top:0in;text-indent:-.5in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(iii)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Pensions - PGBL and Traditional Plans</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:6.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Prev_PGBL_Planos_Trad_Renda" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Prev_PGBL_Planos_Trad_Renda" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,848,112</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Receipt of premiums net of fees</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,446,148</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,412,759</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of benefits</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(759,949)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(696,056)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payment of redemptions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,962,505)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,438,351)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,656,452</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,808,394</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Others</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,314,352)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(377,330)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">47,623,322</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">45,557,528</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesForTheTechnicalProvisionsTextBlock', window );">Guarantees for the technical provisions</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">e)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Guarantees for the technical provisions</font></b></p> <p style="margin:0in;margin-bottom:0in;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Garantias_Provisoes_Tecnicas" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="4" width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc474923373" /><a name="_Toc474919424" /><a name="_Toc415565940" /><a name="_Toc415499919" /><a name="_Toc415498754" /><a name="_Toc415498630" /><a name="_Toc415498401" /><a name="_Toc413337930" /><a name="_Toc412626262" /><a name="_Toc381783444" /><a name="_Toc379874164" /><a name="_Toc355707699" /><a name="_Toc351014082" /><a name="_Toc320264490" /><a name="_Toc318995845" /><a name="_Toc316896431" /><a name="_Toc312767395" /><a name="_Toc289782512" /><a name="_Toc285698421" /><a name="_Toc285642900" /><a name="_Toc285538766" /><a name="_Toc284885131" /><a name="_Toc284697637" /><a name="_Toc289782511" /><a name="IFRS_Garantias_Provisoes_Tecnicas" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="6" valign="bottom" width="63%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Insurance</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Life and pension plans</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provisions</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,833,555</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,853,104</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,256,035</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,986,896</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">239,089,590</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">215,840,000</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Deferred acquisition cost PPNG reducers</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(138,780)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(237,104)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(138,780)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(237,104)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Portion corresponding to contracted reinsurance</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(153,137)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(947,159)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,123)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,191)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,260)</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(988,350)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Deposits retained at IRB and court deposits</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Receivables</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(925,999)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,068,329)</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(925,999)</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,068,329)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Unearned premium reserve - Health and dental insurance (1)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,268,243)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,182,152)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,268,243)</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,182,152)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(-) Reserves from DPVAT agreements</font></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502,491)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(465,568)</font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(502,491)</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(465,568)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">To be insured</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,844,905</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">10,952,776</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">224,241,912</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">200,945,705</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">236,086,817</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">211,898,481</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment fund quotas (VGBL and PGBL) (2)</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,639,798</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,337,785</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">190,639,798</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">168,337,785</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Investment fund quotas (excluding VGBL and PGBL)</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,076,006</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,164,637</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,639,087</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,273,027</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,715,093</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">30,437,664</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Government securities</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,011,657</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,882,012</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,608,194</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,187,009</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">27,619,851</font></b></p> </td> <td width="12%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">20,069,021</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Private securities</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">18,203</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">93,287</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">164,338</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">169,440</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,541</font></b></p> </td> <td width="12%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">262,727</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shares</font></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,227</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,325</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,716,401</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,728,856</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,719,628</font></b></p> </td> <td width="12%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,731,181</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="37%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total technical provision guarantees</font></b></p> </td> <td width="11%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,109,093</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,142,261</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">232,767,818</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">207,696,117</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">246,876,911</font></b></p> </td> <td width="12%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">220,838,378</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;text-indent:-35.4pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;"> </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">The investment funds "VGBL" and "PGBL" were consolidated in the financial statements.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock', window );">Changes in deferred acquisition cost (insurance assets)</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">f)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Changes in deferred acquisition cost (insurance assets)</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,945,238</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,586,888</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,940,226</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,250,844)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,135,220)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Partial spin-off of large risk portfolio</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(16,180)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,070,108</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,750,244</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInReinsuranceAssetsTextBlock', window );">Changes in reinsurance assets</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:0in;margin-left:28.35pt;margin-right:0in;margin-top:0in;text-indent:-14.2pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">g)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;layout-grid-mode:line;line-height:115%;">&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;layout-grid-mode:line;line-height:115%;">Changes in reinsurance assets</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Ativos_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Mov_Ativos_Resseguro" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,194</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,144,506</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186,867</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">667,908</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Reversals</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(139,641)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(485,724)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Recovered insurance losses</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(259,433)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(173,908)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Adjustment for inflation and interest</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(411)</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">43,790</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(754,362)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(10,378)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">219,214</font></b></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,186,194</font></b></p> </td> </tr> </table> <p style="margin:0in;margin-bottom:0in;margin-left:17.85pt;margin-right:0in;margin-top:0in;text-indent:-17.85pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">Includes the transfer of part of the operation of the large risk portfolio (Note 43).</font></p><span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehicleRCFAndElementaryLinesTextBlock', window );">Insurance, Vehicle/RCF and Elementary Lines - Claims, gross reinsurance</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance, Vehicle/RCF and Elementary Lines - Claims, gross reinsurance<sup>(1) </sup></font></b></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><sup><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></sup></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sinistros_Brutos_de_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sinistros_Brutos_de_Resseguro" /><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for the claims:</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,482,979</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,152,371</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,058,559</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,414,674</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,647,298</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,134,409</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,020,829</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,708,479</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,160,984</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,821,255</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,481,275</font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,679,108</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,108,270</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,037,365</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,394,609</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,626,356</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,716</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,848,361</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,456,642</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,028,967</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,640,897</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,711,861</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,088,069</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,018,329</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,387,075</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,604,738</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,021,698</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,809,942</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,464,389</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,989,904</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,783,290</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,094,795</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,015,921</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,403,020</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,604,061</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,041,626</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,839,210</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,234</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,845,834</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,102,364</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,046,000</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,418,649</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,600,194</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,071,989</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,813,496</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,902,275</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,102,595</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,044,644</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,428,252</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,625,442</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,888,296</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,956,618</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,127,609</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,056,612</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,431,363</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,621,044</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,982,993</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,140,708</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,072,169</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,419,614</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,028,742</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,158,436</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,057,911</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,074,360</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,149,106</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,086,824</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,086,824</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,149,106</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,057,911</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,419,614</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,621,044</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,888,296</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,813,496</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,436,234</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,989,904</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,640,897</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,481,275</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,584,601</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,064,293)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,022,199)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,042,673)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,390,739)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,586,371)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,835,738)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,753,035)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,355,681)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,879,707)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,491,476)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,766,457)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(32,188,369)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Outstanding Claims</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,531</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">126,907</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">15,238</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">28,875</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,673</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,558</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,461</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">80,553</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">110,197</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">149,421</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">714,818</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,396,232</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehiclercfAndElementaryLinesTextBlock', window );">Insurance, Vehicle/RCF and Elementary Lines - Claims, net reinsurance</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Insurance, Vehicle/RCF and Elementary Lines - Claims, net reinsurance<sup>(1) </sup></font></b></p> <p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><a name="IFRS_Sinistros_Liquidos_de_Resseguro" /><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sinistros_Liquidos_de_Resseguro" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up to 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for net claims for reinsurance:</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,049,408</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">859,651</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,791,249</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,260,194</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,440,426</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,804,706</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,815,311</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,523,133</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,805,260</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,661,006</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,443,486</font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,107,420</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">846,124</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,773,092</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,235,404</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,417,095</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,695,513</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,648,135</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,306,665</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,695,713</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,541,988</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,157,532</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">835,214</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,766,152</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,232,926</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,401,407</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,696,091</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,622,005</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,317,745</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,671,224</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,225,589</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">844,636</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,769,942</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,251,003</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,418,057</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,705,326</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,658,925</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,323,339</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,285,309</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">850,115</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,791,739</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,268,293</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,425,973</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,729,230</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,659,375</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,338,449</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,121</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,797,090</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,281,206</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,452,938</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,746,804</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,390,840</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">868,958</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,810,770</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,291,650</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,459,251</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,426,256</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">873,978</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,822,466</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,292,651</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,466,917</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">884,796</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,824,085</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,510,383</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">890,132</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,527,764</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,527,764</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">890,132</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,824,085</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,292,651</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,459,251</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,746,804</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,659,375</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,323,339</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,671,224</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,541,988</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,443,486</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">31,380,099</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(4,505,614)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(880,207)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,809,102)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,265,943)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,424,679)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,694,553)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,599,885)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,243,342)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,563,269)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(3,393,389)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,736,036)</font></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(30,116,019)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liquid outstanding claims for reinsurance</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">22,150</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">9,925</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,983</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,708</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">34,572</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,251</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">59,490</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">79,997</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">107,955</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">148,599</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">707,450</font></b></p> </td> <td width="10%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,264,080</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock', window );">Life - Insurance claims, gross reinsurance</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:6.0pt;margin-left:21.3pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Life - Insurance claims, gross reinsurance<sup>(1) </sup></font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Vida_Sinistros_Liquidos_Resseguro" width="99%" style="border-collapse:collapse;width:99.96%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="12" width="80%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="12" width="80%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Year claims were notified</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Up 2007</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2008</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2009</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2010</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2011</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2012</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2013</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2014</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Amount estimated for net claims for reinsurance:</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; In the year after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,987,288</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">987,998</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,062,753</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,185,750</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,403,227</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,448,969</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,509,781</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,536,697</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,653,008</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,741,563</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,771,294</font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; One year after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,004,988</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,000,730</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,082,779</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,183,274</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,386,518</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,431,243</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,491,911</font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,568,941</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,648,842</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,755,802</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Two years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,038,732</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,530</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,105,401</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,195,472</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,393,915</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,447,741</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,525,941</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,570,227</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,644,051</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Three years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,075,972</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,018,008</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,100,970</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,185,871</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,406,376</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,450,511</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,514,898</font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,495,266</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Four years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,079,897</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,017,316</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,109,079</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,198,856</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,406,472</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,454,750</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,516,747</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Five years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,081,301</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,015,902</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,119,669</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,198,607</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,416,009</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,459,181</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Six years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,086,778</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,017,807</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,118,181</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197,508</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,417,352</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Seven years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,068,574</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,021,908</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,112,583</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,189,843</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Eight years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,076,228</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,024,349</font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,115,707</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Nine years after notification</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,094,047</font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,756</font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#183;&#160; Ten years after notification</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,140,849</font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="13%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Estimate of claims on the reporting date (2017)</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,140,849</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,020,756</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,115,707</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,189,843</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,417,352</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,459,181</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,516,747</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,495,266</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,644,051</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,755,802</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,771,294</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">16,526,848</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments of claims</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,074,102)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,003,673)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,098,409)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,151,732)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,361,271)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,398,760)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,428,669)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,307,155)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,337,199)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,499,651)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,280,837)</font></p> </td> <td width="13%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(14,941,458)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="20%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liquid outstanding claims for reinsurance</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">66,747</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,083</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,298</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">38,111</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">56,081</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">60,421</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">88,078</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">188,111</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">306,852</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,151</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">490,457</font></b></p> </td> <td width="13%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,585,390</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:40.8pt;margin-right:0in;margin-top:6.0pt;"><a name="_Toc381783445" /><a name="_Toc379874165" /><a name="_Toc355707700" /><a name="_Toc474923374" /><a name="_Toc474919425" /><a name="_Toc415565941" /><a name="_Toc415499920" /><a name="_Toc415498755" /><a name="_Toc415498631" /><a name="_Toc415498402" /><a name="_Toc413337931" /><a name="_Toc412626263" /><a name="IFRS_Vida_Sinistros_Liquidos_Resseguro" /><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1) The claims table does not include the products </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Health and Dental </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">insurance - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,906,361</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand, DPVAT insurance - R$&#160;</font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,592</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand, Retrocession - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">21,722</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand and salvage and reimbursement estimates - R$ </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(163,923)</font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;"> thousand.</font></p><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in deferred acquisition cost (insurance assets)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in reinsurance assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInReinsuranceAssetsTextBlock</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GuaranteesForTheTechnicalProvisionsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Guarantees for the technical provisions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GuaranteesForTheTechnicalProvisionsTextBlock</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Life with Survival Coverage (VGBL)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceLifeWithSurvivalCoverageVgblTextBlock</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance technical provisions and pension plans (Tables) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceTechnicalProvisionsAndPensionPlansTablesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance, Vehicle/RCF and Elementary Lines.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceVehiclercfAndElementaryLinesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance, Vehicle/RCF and Elementary Lines.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceVehiclercfAndElementaryLinesTextBlock</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Life - Insurance claims, gross reinsurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LifeInsuranceClaimsGrossReinsuranceTextBlock</td>
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</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PensionsPgblAndTraditionalPlansTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Pensions - PGBL and Traditional Plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAccountTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by account</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAccountTextBlock</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAggregatedProductsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by aggregated products</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAggregatedProductsTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDefinedBenefitPlansAbstract', window );"><strong>Supplemental pension plans (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock', window );">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training. These expenses, including the aforementioned contributions, totaled the amount of R$&#160;5,594,368 thousand in the year ending December 31, 2017 (2016 - R$ 3,826,715 thousand).</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="red" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Planos_Previdencia_Complementar" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="_Toc284885133" /><a name="IFRS_Planos_Previdencia_Complementar" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(i)&#160;&#160;&#160;&#160; Projected benefit obligations:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,141,393</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,162,005</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance from an acquired institution</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">761,119</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of current service</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,077)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Interest cost</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,980</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,595</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Participant&#39;s contribution</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,831</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Actuarial gain/(loss)</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">144,624</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">182,762</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefit paid</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,042)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,842)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,323,338</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,141,393</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(ii)&#160;&#160;&#160; Plan assets comprise:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the beginning of the year</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,872</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,047,782</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance from an acquired institution</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">883,858</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Expected earnings</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">423,546</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">307,728</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Contributions received:</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employer</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">14,957</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">33,515</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Employees</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,197</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,831</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Benefit paid</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(192,043)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(147,842)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">At the end of the year</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,375,529</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,127,872</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(iii)&#160;&#160; Financial position:</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Plans in deficit</font></p> </td> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(149,571)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(130,293)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Plans in surplus</font></p> </td> <td width="18%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">201,762</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">116,772</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net balance</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">52,191</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(13,521)</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheNetCostbenefitOfThePensionPlansTextBlock', window );">The net cost/(benefit) of the pension plans</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The net cost/(benefit) of the pension plans recognized in the consolidated statement of income includes the following components:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Custo_Beneficio_Pensao" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Custo_Beneficio_Pensao" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td valign="bottom" width="15%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Projected benefit obligations:</font></b></p> </td> <td width="16%" style="background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="15%" style="background:white;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> <td width="15%" style="background:white;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><i><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></i></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of service</font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">186</font></p> </td> <td width="15%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,077)</font></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(579)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Cost of interest on actuarial obligations</font></p> </td> <td width="16%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">227,980</font></p> </td> <td width="15%" style="background:white;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">181,595</font></p> </td> <td width="15%" style="background:white;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">133,385</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Expected earnings from the assets of the plan</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(227,360)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(174,937)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">(120,960)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net cost/(benefit) of the pension plans</font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">806</font></b></p> </td> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,581</font></b></p> </td> <td width="15%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11,846</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BenefitObligationsAndNetPeriodicBenefitCostTextBlock', window );">Benefit obligations and net periodic benefit cost</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Benefit obligations and net periodic benefit cost for the years 2017 and 2016 for our subsidiaries, were determined using the following assumptions:</font></p> <p style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Obrig_Benef_Custo_Periodico" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Obrig_Benef_Custo_Periodico" /><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Discount rate (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.5% - 10% p.a. </font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11.1% p.a.</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Expected long-term rate of return on the assets</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">8.5% - 10% p.a. </font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">11.1% p.a.</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Increase in salary levels</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.3% p.a.</font></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.8% p.a.</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAssetsOfPensionPlansTextBlock', window );">The assets of pension plans</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The assets of pension plans are invested in compliance with the applicable legislation (government securities and private securities, listed company shares and real estate properties) and the weighted-average allocation of the pension plan&#39;s assets by category is as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="99%" style="border-collapse:collapse;width:99.94%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Alvorada Plan</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Bradesco Plan</font></b></p> </td> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Kirton Plan</font></b></p> </td> <td colspan="2" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets of the Losango Plan</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="21%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> <td colspan="2" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Asset categories</font></b></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Equities</font></p> </td> <td width="11%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">4.7%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3.9%</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">17.3%</font></p> </td> <td width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">18.8%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Fixed income</font></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">92.7%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">93.1%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">90.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">91.3%</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></p> </td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">82.7%</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">81.2%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Real estate</font></p> </td> <td width="11%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5.7%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">5.3%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.6%</font></p> </td> <td width="11%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.7%</font></p> </td> <td width="10%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="9%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="11%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.6%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1%</font></p> </td> <td width="11%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2.1%</font></p> </td> <td width="10%" style="border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="11%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="10%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> <td width="9%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="11%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="10%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">100.0%</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheSensitivityAnalysisOfTheBenefitPlanObligationsTextBlock', window );">The sensitivity analysis of the benefit plan obligations</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Below is the sensitivity analysis of the benefit plan obligations, showing the impact on the actuarial exposure (8.5 - 10.0% p.a.) assuming a 1 b.p. change in the discount rate:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Sensib_Obrig_Planos_de_Beneficio" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="41%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Sensib_Obrig_Planos_de_Beneficio" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Discount rate</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sensitivity Analysis</font></b></p> </td> <td width="20%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect on actuarial liabilities</font></b></p> </td> <td width="20%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Effect on the present value of the obligations</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="41%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">9.5% - 11.0% p.a.</font></p> </td> <td width="19%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Increase of 1 p.p.</font></p> </td> <td width="20%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">reduction</font></p> </td> <td width="20%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(256,532)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="41%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">7.5% - 9.0% p.a.</font></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Decrease of 1 b.p.</font></p> </td> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">increase</font></p> </td> <td width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">303,154</font></p> </td> </tr> </table><span></span>
</td>
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</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BenefitObligationsAndNetPeriodicBenefitCostTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Benefit obligations and net periodic benefit cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BenefitObligationsAndNetPeriodicBenefitCostTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In addition to this benefit, Bradesco and its subsidiaries offer other benefits to their employees and administrators, including health insurance, dental care, life and personal accident insurance, and professional training</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InAdditionToThisBenefitBradescoAndItsSubsidiariesOfferOtherBenefitsToTheirEmployeesAndAdministratorsIncludingHealthInsuranceDentalCareLifeAndPersonalAccidentInsuranceAndProfessionalTrainingTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAssetsOfPensionPlansTextBlock">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The assets of pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAssetsOfPensionPlansTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheNetCostbenefitOfThePensionPlansTextBlock">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net cost/(benefit) of the pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheNetCostbenefitOfThePensionPlansTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheSensitivityAnalysisOfTheBenefitPlanObligationsTextBlock">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sensitivity analysis of the benefit plan obligations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheSensitivityAnalysisOfTheBenefitPlanObligationsTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfDefinedBenefitPlansAbstract">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfDefinedBenefitPlansAbstract</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830349184">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions, contingent liabilities and contingent assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisionsAbstract', window );"><strong>Provisions, contingent liabilities and contingent assets (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionTextBlock', window );">Changes in other provision</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-21.25pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">d)</font></b><b><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Changes in other provision</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:63.8pt;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></b></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Mov_Outras_Provisoes" width="590" style="border-collapse:collapse;margin-left:42.55pt;width:450.799988pt;"> <tr style="height:14.15pt;"> <td rowspan="2" valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"><a name="IFRS_Mov_Outras_Provisoes" /> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="3" valign="bottom" width="49%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 0in 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:2.85pt;margin-top:0in;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Labor</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Civil</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:0pt;margin-top:0in;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Tax and Social Security (1) (2)</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2016</font></b></p> </td> <td width="17%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,101,732 </font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,440 </font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,237 </font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Indexation charges</font></p> </td> <td width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">637,263 </font></p> </td> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">484,447 </font></p> </td> <td width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">500,719 </font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,002,559 </font></p> </td> <td width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">830,642 </font></p> </td> <td width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(984,342)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments </font></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,186,758)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(971,966)</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(114,246)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2017</font></b></p> </td> <td width="17%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,554,796 </font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,346,563 </font></b></p> </td> <td width="16%" style="background:white;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:3.4pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,589,368 </font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td valign="bottom" width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2015</font></b></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,048,442</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,202,950</font></b></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,112,925</font></b></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Indexation charges</font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">454,045</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">409,236</font></p> </td> <td valign="bottom" width="16%" style="border-top:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">705,036</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Additions, net of reversals</font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">876,816</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,310,333</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,236,705)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance originating from an acquired institution <sup>(3)</sup></font></p> </td> <td valign="bottom" width="17%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,684,370</font></p> </td> <td valign="bottom" width="16%" style="border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">544,997</font></p> </td> <td valign="bottom" width="16%" style="height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">703,967</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Payments </font></p> </td> <td valign="bottom" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(961,941)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,464,076)</font></p> </td> <td valign="bottom" width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(97,986)</font></p> </td> </tr> <tr style="height:14.15pt;"> <td valign="bottom" width="51%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p style="margin:0in;margin-bottom:.0001pt;margin-left:2.85pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Balance on </font></b><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;layout-grid-mode:line;">December 31, 2016</font></b></p> </td> <td valign="bottom" width="17%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,101,732</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,003,440</font></b></p> </td> <td valign="bottom" width="16%" style="border-bottom:solid windowtext 1.0pt;height:14.15pt;padding:0in 2.15pt 0in 0in;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;margin-right:5.65pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,187,237</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">Mainly include legal liabilities;</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Sa&#250;de subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:56.7pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:115%;">HSBC Brasil.</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other liabilities (Tables)<br></strong></div></th>
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<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><h1 style="margin-bottom:0in;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:-.25in;"><a name="_Toc474923377" /><a name="_Toc284885135" /><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">38.</font></b><b><font color="black" lang="PT-BR" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160; </font></b><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Other liabilities</font></b></h1> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Outros_Passivos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Outros_Passivos" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial liabilities</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Credit card transactions (1)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">26,163,066</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">23,717,936</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Foreign exchange transactions (2)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,085,029</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">17,975,291</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loan assignment obligations</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,454,076</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,761,827</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Capitalization bonds</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,562,974</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,502,158</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Securities trading</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,317,155</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,569,881</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities for acquisition of assets - financial leasing (Note 38 a)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,212</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,649</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></b></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"></td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Third party funds in transit (3)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,211,038</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">7,068,452</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Provision for payments</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,743,428</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,997,168</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Sundry creditors</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,205,800</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,843,035</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social and statutory</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,524,457</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,631,237</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other taxes payable</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,466,306</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,528,980</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities for acquisition of assets and rights</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,480,777</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,452,568</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,745,506</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">4,853,333</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">97,816,824</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">96,965,515</font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(1)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Refers to amounts payable to merchants;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(2)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mainly refers to the institution&#39;s sales in foreign currency to customers and its right&#39;s in domestic currency, resulting from exchange sale operations; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:7.0pt;">(3)</font><font color="windowtext" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160;&#160; </font><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByMaturityOfFinancialLeasesAndDetailsOfOperatingLeasesTextBlock', window );">Composition by maturity of financial leases and details of operating leases</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:39.3pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">a)</font></b><b><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font></b><b><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">Composition by maturity of financial leases and details of operating leases</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:21.3pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Arrend_Financ_Arrend_Operacionais" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Arrend_Financ_Arrend_Operacionais" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Due within one year</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">564,337</font></p> </td> <td width="18%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">578,965</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 1 to 2 years</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">256,327</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">375,073</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">From 2 to 3 years</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">36,548</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">109,611</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">857,212</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,063,649</font></b></p> </td> </tr> </table><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Tables)<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInEquityAbstract', window );"><strong>Equity (Tables) [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesTextBlock', window );">Composition of share capital in number of shares</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The share capital, which is fully subscribed and paid, is divided into registered shares with no par value.</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" valign="bottom" width="64%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td colspan="2" valign="bottom" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016 (1)</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,481,112</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,481,112</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,480,793</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,054,480,793</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Subtotal</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,108,961,905</font></b></p> </td> <td width="18%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,108,961,905</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Treasury (common shares)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,032,549)</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(5,032,549)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Treasury (preferred shares)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,855,746)</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(18,855,746)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total outstanding shares</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> </table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInCapitalStockInNumberOfSharesTextBlock', window );">Changes in capital stock, in number of shares</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">ii.</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;line-height:115%;">&#160;&#160; </font><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Changes in capital stock, in number of shares</font></b></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:49.65pt;margin-right:0in;margin-top:3.0pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2015 (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,050,040,493</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,665,540</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Shares acquired and not canceled</font></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(591,930)</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(591,930)</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2016 (1)</font></b></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,448,563</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Number of shares outstanding on December 31, 2017</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,049,448,563</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,035,625,047</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:.75pt .75pt 0in .75pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,085,073,610</font></b></p> </td> </tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in capital stock, in number of shares</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of share capital in number of shares</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory', window );">The main transactions with related parties</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The main transactions with related parties are presented as follows:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:10.2pt;"> <td rowspan="4" width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="8" valign="bottom" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:10.2pt;"> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Controllers (1)</font></b></p> </td> <td colspan="2" width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and Jointly controlled companies (2)</font></b></p> </td> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Key Management Personnel (3)</font></b></p> </td> <td colspan="2" width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td colspan="8" width="69%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Assets</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="border-top:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Loans and advances to banks</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">724,369</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,033,479</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">724,369</font></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,033,479</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other assets</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,572</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,128</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">3,572</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,128</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Liabilities</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Deposits from customers</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">931,141</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,374,940</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">103,734</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">62,928</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">87,213</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">86,594</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,122,088</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,524,462</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Funds from issuance of securities</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,632,932</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">5,755,615</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">244,082</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">398,549</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,405,203</font></p> </td> <td width="9%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">823,527</font></p> </td> <td width="8%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,282,217</font></p> </td> <td width="9%" style="background:#BFBFBF;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">6,977,691</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Social and statutory</font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,275,419</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,770,149</font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">2,275,419</font></p> </td> <td width="9%" style="height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">1,770,149</font></p> </td> </tr> <tr style="height:10.2pt;"> <td width="31%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other liabilities</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,827,877</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,704</font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="8%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">8,827,877</font></p> </td> <td width="9%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:10.2pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">13,704</font></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainTransactionsWithRelatedPartiesTextBlock', window );">Main transactions with related parties</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.05pt;"> <td rowspan="4" width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="12" valign="bottom" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.05pt;"> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Controllers (1)</font></b></p> </td> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Associates and Jointly controlled companies (2)</font></b></p> </td> <td colspan="3" width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid black 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Key Management Personnel (3)</font></b></p> </td> <td colspan="3" width="20%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td colspan="12" width="77%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="7%" style="background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="7%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Revenues and expenses</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="6%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td width="7%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Net interest income</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(887,059)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,129,931)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(78,813)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">40,671</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(41,814)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(426)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(84,818)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(108,333)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(88,344)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(931,206)</font></p> </td> <td width="7%" style="background:#BFBFBF;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1,280,078)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(167,583)</font></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other revenues</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,381</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,286</font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,070</font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,381</font></p> </td> <td width="7%" style="height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">360,286</font></p> </td> <td width="7%" style="border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">337,070</font></p> </td> </tr> <tr style="height:11.05pt;"> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Other expenses</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,652)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,391)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2,160)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(289,100)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(224,444)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(246,504)</font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">-&#160; </font></p> </td> <td width="6%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(291,752)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(226,835)</font></p> </td> <td width="7%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.05pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">(248,664)</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(1) Cidade de Deus Cia. Cial. de Participa&#231;&#245;es, Funda&#231;&#227;o Bradesco, NCF Participa&#231;&#245;es S.A., Titanium Holdings S.A., BBD Participa&#231;&#245;es S.A. and Nova Cidade de Deus Participa&#231;&#245;es S.A.;</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(2) Companies listed in Note 2; and</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;line-height:115%;">(3) Members of the Board of Directors and the Board of Executive Officers.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ShorttermBenefitsForManagementTextBlock', window );">Short-term benefits for management</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Short-term benefits for management</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Beneficios_Curto_Prazo_Adm" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="54%" style="background:#BFBFBF;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Beneficios_Curto_Prazo_Adm" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="3" valign="bottom" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="16%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="15%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Salaries</font></p> </td> <td width="16%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">456,262</font></p> </td> <td width="15%" style="border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,592</font></p> </td> <td width="15%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,864</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="16%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">456,262</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">441,592</font></b></p> </td> <td width="15%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">309,864</font></b></p> </td> </tr> </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PostemploymentBenefitsTextBlock', window );">Post-employment benefits</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><b><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Post-employment benefits</font></b></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Beneficios_Pos_Pagos" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="46%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Beneficios_Pos_Pagos" /><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="3" valign="bottom" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="3" width="54%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">Years ended December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2015</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Defined contribution supplementary pension plans</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,663</font></p> </td> <td width="17%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,250</font></p> </td> <td width="19%" style="border-left:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">311,670</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="46%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">473,663</font></b></p> </td> <td width="17%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">251,250</font></b></p> </td> <td width="19%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">311,670</font></b></p> </td> </tr> </table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TogetherDirectlyMembersOfTheBoardOfDirectorsAndBoardOfTheExecutiveOfficersHadTheFollowingShareholdingTextBlock', window );">Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">Together directly, members of the Board of Directors and Board of the Executive Officers had the following shareholding in Bradesco:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:56.7pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="2" width="35%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> </td> <td colspan="2" width="65%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="33%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Common shares</font></p> </td> <td width="32%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.5%</font></p> </td> <td width="33%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.7%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Preferred shares</font></p> </td> <td width="32%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.0%</font></p> </td> <td width="33%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">1.1%</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="35%" style="border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total shares (1)</font></b></p> </td> <td width="32%" style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.8%</font></p> </td> <td width="33%" style="border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">0.9%</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:14.2pt;margin-right:0in;margin-top:3.0pt;text-indent:-14.2pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).</font></p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Off-balance sheet commitments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalRiskRepresentedByOffbalanceSheetCommitmentsTextBlock', window );">Total risk represented by off-balance sheet commitments</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">The table below summarizes the total risk represented by off-balance sheet commitments:</font></p> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:28.35pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;line-height:115%;">&#160;</font></p> <table border="0" cellpadding="0" cellspacing="0" title="IFRS_Itens_Nao_Registrados_BP" width="100%" style="border-collapse:collapse;width:100.0%;"> <tr style="height:11.6pt;"> <td rowspan="3" width="64%" style="background:#BFBFBF;border-bottom:solid black 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><a name="IFRS_Itens_Nao_Registrados_BP" /><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">&#160;</font></b></p> </td> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">R$ thousand</font></p> </td> </tr> <tr style="height:11.6pt;"> <td colspan="2" width="36%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">On December 31</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2017</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">2016</font></b></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Commitments to extend credit (1)</font></p> </td> <td width="18%" style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">203,927,816</font></p> </td> <td width="18%" style="height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">237,019,535</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Financial guarantees (2)</font></p> </td> <td width="18%" style="background:#BFBFBF;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,867,348</font></p> </td> <td width="18%" style="background:#BFBFBF;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">78,949,483</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Letters of credit for imports</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">294,229</font></p> </td> <td width="18%" style="background:white;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">329,015</font></p> </td> </tr> <tr style="height:11.6pt;"> <td width="64%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="windowtext" style="font-family:Arial,sans-serif;font-size:8.0pt;">Total</font></b></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">283,089,393</font></p> </td> <td width="18%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:11.6pt;padding:0in 3.5pt 0in 3.5pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:8.0pt;">316,298,033</font></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:42.55pt;margin-right:0in;margin-top:3.0pt;text-indent:-21.25pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(1)</font><font color="black" lang="EN-US" style="font-family:Times New Roman;font-size:7.0pt;">&#160;&#160;&#160;&#160; </font><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:42.55pt;margin-right:0in;margin-top:0in;text-indent:-21.25pt;"><font color="black" lang="EN-US" style="font-family:Arial,sans-serif;font-size:8.0pt;">(2)</font><font color="black" lang="EN-US" 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>New standards and amendments and interpretations of existing standards (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsTablesAbstract', window );"><strong>New standards and amendments and interpretations of existing standards (Tables) [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionalAllowanceForLoanLossesTextBlock', window );">Additional allowance for loan losses</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The Organization believes that impairment losses will increase and become more volatile than the current ones, for the assets assessed in the model of IFRS 9. Based on the methodology of allowance for loan losses adopted, the Organization estimated, on current best estimates, that the application of the impairment requirements of IFRS 9 on January 1, 2018 would result in additional allowance for loan losses, as described in the table below:</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="1" cellpadding="0" cellspacing="0" style="border:none;border-collapse:collapse;margin-left:56.55pt;width:446.299988pt;"> <tr> <td valign="top" width="62%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> </td> <td valign="top" width="38%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">R$ millions</font></p> </td> </tr> <tr> <td valign="top" width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> </td> <td valign="top" width="38%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Provision for additional estimated credit losses on January 1, 2018</font></b></p> </td> </tr> <tr style="height:12.75pt;"> <td width="62%" style="border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Credit portfolio (1)</font></p> </td> <td width="38%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,829 </font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="62%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Securities</font></p> </td> <td width="38%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 842 </font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="62%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">Total gross additional provisions</font></b></p> </td> <td width="38%" style="border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">4,671 </font></b></p> </td> </tr> </table> <p align="justify" style="margin:0in;margin-bottom:.0001pt;margin-left:55.3pt;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">(1) includes commitments and financial guarantees provided</font></p><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OnCurrentBestEstimatesProvidesInformationOnTheEstimatedExposureToLoanRiskAndExpectedLoanLossesAndAdvancesCommitmentsFinancialCollateralsProvidedAndPrivateDebtSecuritiesTextBlock', window );">On current best estimates, provides information on the estimated exposure to loan risk and expected loan losses and advances, commitments, financial collaterals provided and Private Debt Securities</a></td>
<td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">The table below, on current best estimates, provides information on the estimated exposure to loan risk and expected loan losses and advances, commitments, financial collaterals provided and Private Debt Securities, on January 1, 2018.</font></p> <p align="justify" style="margin:0in;margin-bottom:0in;margin-left:49.65pt;margin-right:0in;margin-top:0in;"><font color="windowtext" lang="EN-US" style="font-family:Arial,sans-serif;font-size:10.0pt;">&#160;</font></p> <table border="1" cellpadding="0" cellspacing="0" width="567" style="border:none;border-collapse:collapse;margin-left:56.55pt;width:468.200012pt;"> <tr> <td valign="top" width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> </td> <td valign="top" width="22%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="top" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></b></p> </td> <td colspan="2" valign="top" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">R$ millions</font></p> </td> </tr> <tr> <td valign="top" width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="justify" style="margin:0in;margin-bottom:.0001pt;"><b><i><font color="black" lang="PT-BR" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;</font></i></b></p> </td> <td colspan="2" valign="bottom" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Estimated Exposure to Credit Risk</font></b></p> </td> <td colspan="2" valign="bottom" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;line-height:250%;">Expected Loss</font></b></p> </td> <td valign="bottom" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Expected Loss on Estimated Exposure to Credit Risk</font></b></p> </td> </tr> <tr style="height:12.75pt;"> <td width="30%" style="border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Stage 1</font></p> </td> <td colspan="2" width="23%" style="border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160; 432,416 </font></p> </td> <td colspan="2" width="24%" style="border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160; 7,688 </font></p> </td> <td width="23%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">2%</font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="30%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Stage 2</font></p> </td> <td colspan="2" width="23%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160; 51,853 </font></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160; 7,581 </font></p> </td> <td width="23%" style="background:#BFBFBF;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">15%</font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="30%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Stage 3</font></p> </td> <td colspan="2" width="23%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160; 37,277 </font></p> </td> <td colspan="2" width="24%" style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160; 17,779 </font></p> </td> <td width="23%" style="border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">48%</font></p> </td> </tr> <tr style="height:12.75pt;"> <td width="30%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">Total</font></b></p> </td> <td colspan="2" width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160; 521,546 </font></b></p> </td> <td colspan="2" width="24%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">&#160;&#160; 33,048 </font></b></p> </td> <td width="23%" style="background:#BFBFBF;border-bottom:solid windowtext 1.0pt;height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;"><b><font color="black" style="font-family:Arial,sans-serif;font-size:9.0pt;">6%</font></b></p> </td> </tr> <tr style="height:0;"> <td width="30%"></td> <td width="22%"></td> <td width="1%"></td> <td width="23%"></td> <td width="1%"></td> <td width="23%"></td> </tr> </table><span></span>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868955488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 1)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract', window );"><strong>Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">R$ 8,476,708<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks', window );">Desposits with the central banks</a></td>
<td class="nump">14,895,767<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks', window );">Loans and advances</a></td>
<td class="nump">67,714,569<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="nump">20,881,824<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale', window );">Financial assets available for sale</a></td>
<td class="nump">23,745,717<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity', window );">Investments held to maturity</a></td>
<td class="nump">35,861<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">1,797,800<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets', window );">Intangible assets</a></td>
<td class="nump">4,551,758<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets', window );">Other assets</a></td>
<td class="nump">26,657,391<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="num">(7,808,801)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="num">(56,766,587)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="num">(3,790,048)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued', window );">Funds from securities issued</a></td>
<td class="num">(40,251,806)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="num">(1,401,348)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions', window );">Provisions</a></td>
<td class="num">(3,429,291)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities', window );">Other liabilities</a></td>
<td class="num">(42,242,831)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal', window );">Sub-total</a></td>
<td class="nump">13,066,683<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill', window );">Goodwill</a></td>
<td class="nump">4,221,787<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Fair value of the consideration transferred</a></td>
<td class="nump">17,288,470<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionAxis=bbd_AcquisitionAccountingMember', window );">Accounting</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract', window );"><strong>Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">8,476,708<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks', window );">Desposits with the central banks</a></td>
<td class="nump">14,895,767<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks', window );">Loans and advances</a></td>
<td class="nump">69,364,585<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="nump">20,881,824<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale', window );">Financial assets available for sale</a></td>
<td class="nump">23,745,717<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity', window );">Investments held to maturity</a></td>
<td class="nump">13,450<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">1,175,554<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets', window );">Intangible assets</a></td>
<td class="nump">558,015<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets', window );">Other assets</a></td>
<td class="nump">25,808,692<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="num">(7,808,801)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="num">(56,766,587)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="num">(3,790,048)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued', window );">Funds from securities issued</a></td>
<td class="num">(40,187,105)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="num">(1,401,348)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions', window );">Provisions</a></td>
<td class="num">(3,429,291)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities', window );">Other liabilities</a></td>
<td class="num">(42,242,831)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal', window );">Sub-total</a></td>
<td class="nump">9,294,301<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Fair value of the consideration transferred</a></td>
<td class="nump">9,294,301<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionAxis=bbd_AcquisitionAdjustmentsMember', window );">Adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract', window );"><strong>Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks', window );">Loans and advances</a></td>
<td class="num">(1,650,016)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity', window );">Investments held to maturity</a></td>
<td class="nump">22,411<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">622,246<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets', window );">Intangible assets</a></td>
<td class="nump">3,993,743<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets', window );">Other assets</a></td>
<td class="nump">848,699<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued', window );">Funds from securities issued</a></td>
<td class="num">(64,701)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill', window );">Goodwill</a></td>
<td class="nump">R$ 4,221,787<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Cash and cash equivalents</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Deposits from customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Desposits with the central banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilDespositsWithTheCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial assets held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialAssetsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Financial liabilities held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFinancialLiabilitiesHeldForTrading</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Funds from securities issued</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilFundsFromSecuritiesIssued</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Goodwill</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Intangible assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilIntangibleAssets</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Investments held to maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilInvestmentsHeldToMaturity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilLoansAndAdvancesToBanks</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Other assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Other liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilOtherLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Property and equipment, net of accumulated depreciation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilPropertyAndEquipmentNetOfAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Provisions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Subordinated debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubordinatedDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Balance sheet for the acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Sub-total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BalanceSheetForTheAcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilSubtotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionAxis=bbd_AcquisitionAccountingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionAxis=bbd_AcquisitionAccountingMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionAxis=bbd_AcquisitionAdjustmentsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6600869024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 2)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferredAbstract', window );"><strong>Acquisition-date fair value of total consideration transferred [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashTransferred', window );">Payment to HSBC Latin America Holding Limited, net of adjustment after closure</a></td>
<td class="nump">R$ 15,665,367<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesIncurred', window );">Adjustment to the cost acquisition related to the fair value of the firm commitment</a></td>
<td class="nump">1,623,103<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Fair value of the consideration transferred</a></td>
<td class="nump">R$ 17,288,470<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes the IOF collection, and withholding Income Tax; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Includes the results from changes to the fair value of the firm commitment attributable to the hedged risk that was recognized in the statement in the financial position hired with the objective of protecting the effects of exchange rate variation of the firm commitment, though the use of a hedging instrument derivative.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferredAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of liabilities incurred (for example, a liability for contingent consideration) as consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f_iii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesIncurred</td>
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<html>
<head>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6835691072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 3)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr><th class="th" colspan="2">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ValueOfTheInvestmentRecordedByBradescoIncludesGoodwillInTheAcquisitionOfSharesAbstract', window );"><strong>Value Of The Investment Recorded By Bradesco Includes Goodwill In The Acquisition Of Shares [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary', window );">Shareholders' equity acquired</a></td>
<td class="nump">R$ 9,294,301<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed', window );">Fair value of assets acquired and liabilities assumed</a></td>
<td class="num">(221,361)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate', window );">Intangible assets acquired</a></td>
<td class="nump">3,993,743<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill', window );">Goodwill</a></td>
<td class="nump">4,221,787<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Fair value of the consideration transferred</a></td>
<td class="nump">R$ 17,288,470<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</td>
</tr></table></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Goodwill</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of the investment recorded by Bradesco includes goodwill in the acquisition of shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ValueOfTheInvestmentRecordedByBradescoIncludesGoodwillInTheAcquisitionOfSharesAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph IE72<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_IE72&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>133
<FILENAME>R94.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6877282624">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 4)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoAlvoradaSAMember', window );">Banco Alvorada S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Alvorada S.A.<span></span>
</td>
<td class="text">Banco Alvorada S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99.99%<span></span>
</td>
<td class="nump">99.99%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoFinanciamentosSaMember', window );">Banco Bradesco Financiamentos S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradesco Financiamentos S.A.<span></span>
</td>
<td class="text">Banco Bradesco Financiamentos S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBoavistaInteratlanticoSAMember', window );">Banco Boavista Interatl&#226;ntico S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Banco Boavista Interatl&#226;ntico S.A.<span></span>
</td>
<td class="text">Banco Boavista Interatl&#226;ntico S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoArgentinaSAMember', window );">Banco Bradesco Argentina S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradesco Argentina S.A.<span></span>
</td>
<td class="text">Banco Bradesco Argentina S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Argentina<span></span>
</td>
<td class="text">Argentina<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99.99%<span></span>
</td>
<td class="nump">99.99%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoEuropaSAMember', window );">Banco Bradesco Europa S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradesco Europa S.A.<span></span>
</td>
<td class="text">Banco Bradesco Europa S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Luxembourg<span></span>
</td>
<td class="text">Luxembourg<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoBERJSAMember', window );">Banco Bradesco BERJ S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradesco BERJ S.A.<span></span>
</td>
<td class="text">Banco Bradesco BERJ S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescardSAMember', window );">Banco Bradescard S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradescard S.A.<span></span>
</td>
<td class="text">Banco Bradescard S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Cards<span></span>
</td>
<td class="text">Cards<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoBbiSaMember', window );">Banco Bradesco BBI S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Banco Bradesco BBI S.A.<span></span>
</td>
<td class="text">Banco Bradesco BBI S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Investment Bank<span></span>
</td>
<td class="text">Investment Bank<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">99.85%<span></span>
</td>
<td class="nump">99.81%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoBradescoCartoesSAMember', window );">Banco Bradesco Cart&#245;es S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Bradesco Cart&#245;es S.A.<span></span>
</td>
<td class="text">Banco Bradesco Cart&#245;es S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Cards<span></span>
</td>
<td class="text">Cards<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoAdministradoraDeConsorciosLtdaMember', window );">Bradesco Administradora de Cons&#243;rcios Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Bradesco Administradora de Cons&#243;rcios Ltda.<span></span>
</td>
<td class="text">Bradesco Administradora de Cons&#243;rcios Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Consortium Management<span></span>
</td>
<td class="text">Consortium Management<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradsegParticipacoesSAMember', window );">Bradseg Participa&#231;&#245;es S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradseg Participa&#231;&#245;es S.A.<span></span>
</td>
<td class="text">Bradseg Participa&#231;&#245;es S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Holding<span></span>
</td>
<td class="text">Holding<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoAutoReCiaDeSegurosMember', window );">Bradesco Auto/RE Cia. de Seguros</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Auto/RE Cia. de Seguros<span></span>
</td>
<td class="text">Bradesco Auto/RE Cia. de Seguros<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Insurance<span></span>
</td>
<td class="text">Insurance<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoCapitalizacaoSAMember', window );">Bradesco Capitaliza&#231;&#227;o S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Capitaliza&#231;&#227;o S.A.<span></span>
</td>
<td class="text">Bradesco Capitaliza&#231;&#227;o S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Capitalization bonds<span></span>
</td>
<td class="text">Capitalization bonds<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesOdontoprevSAMember', window );">Odontoprev S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Odontoprev S.A.<span></span>
</td>
<td class="text">Odontoprev S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Dental care<span></span>
</td>
<td class="text">Dental care<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.01%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoLeasingSAArrendamentoMercantilMember', window );">Bradesco Leasing S.A. Arrendamento Mercantil</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Leasing S.A. Arrendamento Mercantil<span></span>
</td>
<td class="text">Bradesco Leasing S.A. Arrendamento Mercantil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Leasing<span></span>
</td>
<td class="text">Leasing<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesAgoraCorretoraDeTitulosValoresMobiliariosSAMember', window );">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.<span></span>
</td>
<td class="text">&#193;gora Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brokerage<span></span>
</td>
<td class="text">Brokerage<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSACorretoraDeTitulosValoresMobiliariosMember', window );">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios<span></span>
</td>
<td class="text">Bradesco S.A. Corretora de T&#237;tulos e Valores Mobili&#225;rios<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brokerage<span></span>
</td>
<td class="text">Brokerage<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSaudeSAMember', window );">Bradesco Sa&#250;de S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Sa&#250;de S.A.<span></span>
</td>
<td class="text">Bradesco Sa&#250;de S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Insurance / Health<span></span>
</td>
<td class="text">Insurance / Health<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSegurosSAMember', window );">Bradesco Seguros S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Seguros S.A.<span></span>
</td>
<td class="text">Bradesco Seguros S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Insurance<span></span>
</td>
<td class="text">Insurance<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoVidaPrevidenciaSAMember', window );">Bradesco Vida e Previd&#234;ncia S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Vida e Previd&#234;ncia S.A.<span></span>
</td>
<td class="text">Bradesco Vida e Previd&#234;ncia S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Pension plan/Insurer<span></span>
</td>
<td class="text">Pension plan/Insurer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradesplanParticipacoesLtdaMember', window );">Bradesplan Participa&#231;&#245;es Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesplan Participa&#231;&#245;es Ltda.<span></span>
</td>
<td class="text">Bradesplan Participa&#231;&#245;es Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Holding<span></span>
</td>
<td class="text">Holding<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBRAMBradescoAssetManagementSADTVMMember', window );">BRAM - Bradesco Asset Management S.A. DTVM</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">BRAM - Bradesco Asset Management S.A. DTVM<span></span>
</td>
<td class="text">BRAM - Bradesco Asset Management S.A. DTVM<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Asset Management<span></span>
</td>
<td class="text">Asset Management<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesTempoServicosLtdaMember', window );">Tempo Servi&#231;os Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Tempo Servi&#231;os Ltda.<span></span>
</td>
<td class="text">Tempo Servi&#231;os Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Services<span></span>
</td>
<td class="text">Services<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesUniaoDeParticipacoesLtdaMember', window );">Uni&#227;o Participa&#231;&#245;es Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Uni&#227;o Participa&#231;&#245;es Ltda.<span></span>
</td>
<td class="text">Uni&#227;o Participa&#231;&#245;es Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Holding<span></span>
</td>
<td class="text">Holding<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoLosangoSAMember', window );">Banco Losango S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banco Losango S.A.<span></span>
</td>
<td class="text">Banco Losango S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonAdministradoraDeConsorciosLtdaMember', window );">Kirton Administradora de Cons&#243;rcios Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Kirton Administradora de Cons&#243;rcios Ltda.<span></span>
</td>
<td class="text">Kirton Administradora de Cons&#243;rcios Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Consortium management<span></span>
</td>
<td class="text">Consortium management<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonBankBrasilSAMember', window );">kirton Bank Brasil S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">kirton Bank Brasil S.A.<span></span>
</td>
<td class="text">kirton Bank Brasil S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Banking<span></span>
</td>
<td class="text">Banking<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonCorretoraDeTitulosValoresMobiliariosSAMember', window );">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.<span></span>
</td>
<td class="text">Bradesco Kirton Corretora de T&#237;tulos e Valores Mobili&#225;rios S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brokerage<span></span>
</td>
<td class="text">Brokerage<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99.97%<span></span>
</td>
<td class="nump">99.97%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonCapitalizacaoSAMember', window );">Kirton Capitaliza&#231;&#227;o S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Kirton Capitaliza&#231;&#227;o S.A.<span></span>
</td>
<td class="text">Kirton Capitaliza&#231;&#227;o S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Capitalization bonds<span></span>
</td>
<td class="text">Capitalization bonds<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">99.97%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonSegurosSAMember', window );">Kirton Seguros S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4],[5]</sup></td>
<td class="text">Kirton Seguros S.A.<span></span>
</td>
<td class="text">Kirton Seguros S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4],[5]</sup></td>
<td class="text">Insurance<span></span>
</td>
<td class="text">Insurance<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4],[5]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4],[5]</sup></td>
<td class="nump">98.54%<span></span>
</td>
<td class="nump">98.08%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonVidaPrevidenciaSAMember', window );">Kirton Vida e Previd&#234;ncia S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Kirton Vida e Previd&#234;ncia S.A.<span></span>
</td>
<td class="text">Kirton Vida e Previd&#234;ncia S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Pension plan/Insurer<span></span>
</td>
<td class="text">Pension plan/Insurer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonParticipacoesInvestimentosLtdaMember', window );">Kirton Participa&#231;&#245;es e Investimentos Ltda.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MainSubsidiariesIncludedInTheConsolidatedFinancialStatementsAbstract', window );"><strong>Main subsidiaries included in the consolidated financial statements</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfSubsidiary', window );">Subsidiarie</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">Kirton Participa&#231;&#245;es e Investimentos Ltda.<span></span>
</td>
<td class="text">Kirton Participa&#231;&#245;es e Investimentos Ltda.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Activity', window );">Activity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">Holding<span></span>
</td>
<td class="text">Holding<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary', window );">Country</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">Brazil<span></span>
</td>
<td class="text">Brazil<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Shareholding interest (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In November, 2017, Banco Boavista Interatl&amp;#226;ntico S.A. was merged into Banco Bradesco BBI S.A. with an increase in subscription for shares;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In May 2017, Kirton Administradora de Cons&amp;#243;rcios Ltda. was merged into Bradesco Administradora de Cons&amp;#243;rcios Ltda.;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Increase in interest, by means of acquisition of shares held by minority shareholders;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Company merged into Kirton Seguros S.A., in July 2017.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Increase in interest by means of subscription of shares in July 2017; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Activity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Main subsidiaries included in the consolidated financial statements</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The country in which a subsidiary of the entity is incorporated. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The name of a subsidiary. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoAdministradoraDeConsorciosLtdaMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoAdministradoraDeConsorciosLtdaMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradsegParticipacoesSAMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradsegParticipacoesSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoAutoReCiaDeSegurosMember">
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoCapitalizacaoSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoCapitalizacaoSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesOdontoprevSAMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesOdontoprevSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoLeasingSAArrendamentoMercantilMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoLeasingSAArrendamentoMercantilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesAgoraCorretoraDeTitulosValoresMobiliariosSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesAgoraCorretoraDeTitulosValoresMobiliariosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSACorretoraDeTitulosValoresMobiliariosMember">
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSaudeSAMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSaudeSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSegurosSAMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoSegurosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoVidaPrevidenciaSAMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradescoVidaPrevidenciaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradesplanParticipacoesLtdaMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBradesplanParticipacoesLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBRAMBradescoAssetManagementSADTVMMember">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBRAMBradescoAssetManagementSADTVMMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesTempoServicosLtdaMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesTempoServicosLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesUniaoDeParticipacoesLtdaMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesUniaoDeParticipacoesLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoLosangoSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesBancoLosangoSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonAdministradoraDeConsorciosLtdaMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonAdministradoraDeConsorciosLtdaMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonBankBrasilSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonBankBrasilSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonCorretoraDeTitulosValoresMobiliariosSAMember">
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonCorretoraDeTitulosValoresMobiliariosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonCapitalizacaoSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonSegurosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=bbd_SubsidiariesKirtonVidaPrevidenciaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>134
<FILENAME>R95.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6877078240">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1">40 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Aug. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2019</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PurchaseAndSaleOfSharesAgreementPercent', window );">Acquisition - Equity of HSBC Bank Brasil S.A. (&#8220;HSBC Bank&#8221;) and HSBC Servi&#231;os e Participa&#231;&#245;es Ltda. (&#8220;HSBC Servi&#231;os&#8221;).</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 4,221,787<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheProjectedAverageLossRatio', window );">The projected average loss ratio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheProjectedAverageLossRatioExtendedGuaranteeSegment', window );">The projected average loss ratio - Extended Guarantee segment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.19%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheProjectedAverageLossRatioForTheElementaryLines', window );">The projected average loss ratio - For the elementary lines</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.21%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAverageReinsuranceProjectedInTheStudyCalculatedOnTheBasisOfReportedClaims', window );">The average reinsurance projected in the study, calculated on the basis of reported claims</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Expected dividend as percentage, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialContributionAxis=bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember', window );">For financial companies, financial company equivalent and of the insurance industry</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialContributionAxis=bbd_SocialContributionChangedAccordingToLawNo1316915Member', window );">Changed according to Law no 13,169/15</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialContributionAxis=bbd_SocialContributionReturningToTheRateMember', window );">Returning to the rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialContributionAxis=bbd_SocialContributionForTheOtherCompaniesMember', window );">For the other companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeIncomeTaxMember', window );">Income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeSurchargeMember', window );">Surcharge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesBiggerThanMember', window );">Bigger than</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesLessThanMember', window );">Less than</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Proportion of ownership interest in associate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsortiumAxis=bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember', window );">Net income is distributed to the consortium's members</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsortiumNetIncome', window );">Consortium</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsortiumAxis=bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember', window );">Remaining monthly income is retained by the lead insurer over the year and transferred to the members of the consortium at the start of the following year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsortiumNetIncome', window );">Consortium</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember', window );">The right to receive a minimum dividend per share</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubsequentCosts', window );">Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">one year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheEstimatedUsefulLifeOfSoftware', window );">The estimated useful life of software</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">two to five years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskRelatedToTheCoverOfTheHoldersDependentsFollowingTheDeathOfTheHolder', window );">Risk related to the cover of the holder's dependents, following the death of the holder</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">five years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxAssetsOnIncomeTaxAndSocialContributionLossesAreRealizableWhenTaxableIncomeIsGenerated', window );">Deferred tax assets on income tax and social contribution losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MinimumDividendPerShare', window );">Minimum dividend per share</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember', window );">Of the annual net income, in accordance with the the Company&#8217;s Bylaws</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Expected dividend as percentage, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember', window );">The mathematical reserve for unvested benefits (PMBAC)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">5.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveOfBenefitsGrantedPMBCMember', window );">The mathematical reserve of benefits granted (PMBC)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">5.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceOtherProvisionsMember', window );">Other provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract', window );"><strong>Significant Accounting Policies (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">5.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Based on an assessment made on July 01,2016, were identificable the fair values of the assets adquired and liabilities assumed in the acquisition.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition with HSBC Bank and HSBC Servi&#231;os (HSBC Brasil) - Goodwill</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionWithHsbcBankAndHsbcServiosHsbcBrasilGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConsortiumNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Consortium - Net income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConsortiumNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxAssetsOnIncomeTaxAndSocialContributionLossesAreRealizableWhenTaxableIncomeIsGenerated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax assets on income tax and social contribution losses are realizable when taxable income is generated, up to the 30% limit of the taxable profit for the period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxAssetsOnIncomeTaxAndSocialContributionLossesAreRealizableWhenTaxableIncomeIsGenerated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MinimumDividendPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum dividend per share</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MinimumDividendPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PurchaseAndSaleOfSharesAgreementPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase and Sale of Shares Agreement - Percent</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PurchaseAndSaleOfSharesAgreementPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskRelatedToTheCoverOfTheHoldersDependentsFollowingTheDeathOfTheHolder">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk related to the cover of the holder's dependents, following the death of the holder</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskRelatedToTheCoverOfTheHoldersDependentsFollowingTheDeathOfTheHolder</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SignificantAccountingPoliciesDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant Accounting Policies (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SignificantAccountingPoliciesDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubsequentCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenditure on maintenance and repairs of property and equipment items is recognized as an asset when it is probable that future economic benefits associated with the items will flow to the Organization for more than one year and the cost can be measured reliably.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubsequentCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAverageReinsuranceProjectedInTheStudyCalculatedOnTheBasisOfReportedClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average reinsurance projected in the study, calculated on the basis of reported claims</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAverageReinsuranceProjectedInTheStudyCalculatedOnTheBasisOfReportedClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheEstimatedUsefulLifeOfSoftware">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated useful life of software</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheEstimatedUsefulLifeOfSoftware</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheProjectedAverageLossRatio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The projected average loss ratio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheProjectedAverageLossRatio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheProjectedAverageLossRatioExtendedGuaranteeSegment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The projected average loss ratio - Extended Guarantee segment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheProjectedAverageLossRatioExtendedGuaranteeSegment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheProjectedAverageLossRatioForTheElementaryLines">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The projected average loss ratio - For the elementary lines</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheProjectedAverageLossRatioForTheElementaryLines</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialContributionAxis=bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialContributionAxis=bbd_SocialContributionForFinancialCompaniesFinancialCompanyEquivalentAndOfTheInsuranceIndustryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialContributionAxis=bbd_SocialContributionChangedAccordingToLawNo1316915Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialContributionAxis=bbd_SocialContributionChangedAccordingToLawNo1316915Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialContributionAxis=bbd_SocialContributionReturningToTheRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialContributionAxis=bbd_SocialContributionReturningToTheRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialContributionAxis=bbd_SocialContributionForTheOtherCompaniesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialContributionAxis=bbd_SocialContributionForTheOtherCompaniesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeSurchargeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionForIncomeTaxAndSurchargeAxis=bbd_ProvisionForIncomeTaxAndSurchargeSurchargeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesBiggerThanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesBiggerThanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesLessThanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClassifiedAsAssociatesAxis=bbd_ClassifiedAsAssociatesLessThanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConsortiumAxis=bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConsortiumAxis=bbd_ConsortiumNetIncomeIsDistributedToTheConsortiumsMembersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConsortiumAxis=bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConsortiumAxis=bbd_ConsortiumRemainingMonthlyIncomeIsRetainedByTheLeadInsurerOverTheYearAndTransferredToTheMembersOfTheConsortiumAtTheStartOfTheFollowingYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesTheRightToReceiveMinimumDividendPerShareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DividendsOnSharesAxis=bbd_DividendsOnSharesOfTheAnnualNetIncomeInAccordanceWithTheTheCompanysBylawsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveForUnvestedBenefitsPMBACMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveOfBenefitsGrantedPMBCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceTheMathematicalReserveOfBenefitsGrantedPMBCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceOtherProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HealthAndDentalInsuranceAxis=bbd_HealthAndDentalInsuranceOtherProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R96.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836521008">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsAbstract', window );"><strong>Maximum Credit Risk Exposure Of The Financial Instruments [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndBankBalancesAtCentralBanks', window );">Cash and balances with banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 81,742,951<span></span>
</td>
<td class="nump">R$ 72,554,651<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="nump">16,755,442<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">32,253,205<span></span>
</td>
<td class="nump">94,845,534<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers', window );">Loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">373,813,665<span></span>
</td>
<td class="nump">392,083,873<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">599,199,362<span></span>
</td>
<td class="nump">497,974,002<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalItemsRecordedInTheBalanceSheet', window );">Total items recorded in the balance sheet</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,100,876,068<span></span>
</td>
<td class="nump">1,074,213,502<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalItemsNotRecordedInTheBalanceSheetNote', window );">Total items not recorded in the balance sheet (Note 41)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">283,089,393<span></span>
</td>
<td class="nump">316,298,033<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Total risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,383,965,461<span></span>
</td>
<td class="nump">R$ 1,390,511,535<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Collaterals are mainly represented by: securities, properties, financial investments, sureties and guarantees.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalItemsNotRecordedInTheBalanceSheetNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total items not recorded in the balance sheet</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalItemsNotRecordedInTheBalanceSheetNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalItemsRecordedInTheBalanceSheet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total items recorded in the balance sheet</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalItemsRecordedInTheBalanceSheet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and bank balances held at central banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaximumExposureToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that best represents the maximum exposure to credit risk without taking into account any collateral held or other credit enhancements (for example, netting agreements that do not qualify for offset in accordance with IAS 32). [Refer: Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35K<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35K_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_36_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaximumExposureToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinancialAssets</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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</div>
</body>
</html>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830418112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative Financial Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradedInTheStockExchange', window );">Traded in the stock exchange</a></td>
<td class="nump">R$ 88,120<span></span>
</td>
<td class="nump">R$ 1,068,418<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContractAssets', window );">OTC contract</a></td>
<td class="nump">13,778,765<span></span>
</td>
<td class="nump">15,687,024<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Total</a></td>
<td class="nump">R$ 13,866,885<span></span>
</td>
<td class="nump">R$ 16,755,442<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Traded in the stock exchange</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TradedInTheStockExchange</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContractAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of an entity&#8217;s right to consideration in exchange for goods or services that the entity has transferred to a customer, when that right is conditioned on something other than the passage of time (for example, the entity&#8217;s future performance).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 15<br> -IssueDate 2017-01-01<br> -Paragraph 105<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=15&amp;date=2017-03-01&amp;anchor=para_105&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 15<br> -IssueDate 2017-01-01<br> -Paragraph 116<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=15&amp;date=2017-03-01&amp;anchor=para_116_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContractAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>137
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836374832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract', window );"><strong>Loans and advances to banks as rated internally by the Organization</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="nump">R$ 32,253,205<span></span>
</td>
<td class="nump">R$ 94,845,534<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_LowRiskMember', window );">Low risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract', window );"><strong>Loans and advances to banks as rated internally by the Organization</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="nump">32,253,205<span></span>
</td>
<td class="nump">94,845,534<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_MediumRiskMember', window );">Medium risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract', window );"><strong>Loans and advances to banks as rated internally by the Organization</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_HighRiskMember', window );">High risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract', window );"><strong>Loans and advances to banks as rated internally by the Organization</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to banks as rated internally by the Organization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks</td>
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<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_LowRiskMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_MediumRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksAsRatedInternallyByTheOrganizationAxis=bbd_HighRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R99.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834781264">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 4) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract', window );"><strong>Loans And Advances To Customers The Internal Models Used By The Organization Are Based On Client Or Product [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Neither past due nor impaired</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 321,595,918<span></span>
</td>
<td class="nump">R$ 337,337,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired', window );">Past due but not impaired (ii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,684,314<span></span>
</td>
<td class="nump">12,612,906<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Impaired (iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">41,533,433<span></span>
</td>
<td class="nump">42,133,815<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers', window );">Total Portfolio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">373,813,665<span></span>
</td>
<td class="nump">392,083,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(27,055,566)<span></span>
</td>
<td class="num">(24,780,839)<span></span>
</td>
<td class="num">R$ (25,455,204)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Total of net loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 346,758,099<span></span>
</td>
<td class="nump">R$ 367,303,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Neither past due nor impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Past due but not impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - The internal models used by the Organization are based on client or product</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersTheInternalModelsUsedByTheOrganizationAreBasedOnClientOrProductAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>139
<FILENAME>R100.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830993488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 5) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract', window );"><strong>Loans and advances to customers neither past due nor impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Total</a></td>
<td class="nump">R$ 321,595,918<span></span>
</td>
<td class="nump">R$ 337,337,152<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedLowRiskMember', window );">Low risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract', window );"><strong>Loans and advances to customers neither past due nor impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Total</a></td>
<td class="nump">309,535,667<span></span>
</td>
<td class="nump">325,170,838<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedMediumRiskMember', window );">Medium risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract', window );"><strong>Loans and advances to customers neither past due nor impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Total</a></td>
<td class="nump">9,895,319<span></span>
</td>
<td class="nump">10,269,218<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedHighRiskMember', window );">High risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract', window );"><strong>Loans and advances to customers neither past due nor impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Total</a></td>
<td class="nump">R$ 2,164,932<span></span>
</td>
<td class="nump">R$ 1,897,096<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Neither past due nor impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers neither past due nor impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedLowRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedLowRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedMediumRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedMediumRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedHighRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedAxis=bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpairedHighRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>140
<FILENAME>R101.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828302992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 6) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract', window );"><strong>Loans and advances to customers past due but not impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired', window );">Total</a></td>
<td class="nump">R$ 10,684,314<span></span>
</td>
<td class="nump">R$ 12,612,906<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueUpTo60DaysMember', window );">Past due up to 60 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract', window );"><strong>Loans and advances to customers past due but not impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired', window );">Total</a></td>
<td class="nump">8,177,461<span></span>
</td>
<td class="nump">9,737,697<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueBetween61And90DaysMember', window );">Past due between 61 and 90 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract', window );"><strong>Loans and advances to customers past due but not impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired', window );">Total</a></td>
<td class="nump">2,302,186<span></span>
</td>
<td class="nump">2,608,305<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueForMoreThan90DaysMember', window );">Past due for more than 90 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract', window );"><strong>Loans and advances to customers past due but not impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired', window );">Total</a></td>
<td class="nump">R$ 204,667<span></span>
</td>
<td class="nump">R$ 266,904<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Past due but not impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpaired</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers past due but not impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueUpTo60DaysMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueBetween61And90DaysMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedAxis=bbd_LoansAndAdvancesToCustomersPastDueButNotImpairedPastDueForMoreThan90DaysMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>141
<FILENAME>R102.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830565312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 7) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract', window );"><strong>Loans and advances to customers impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="nump">R$ 41,533,433<span></span>
</td>
<td class="nump">R$ 42,133,815<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPortfolioNotYetDueMember', window );">Portfolio not yet due</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract', window );"><strong>Loans and advances to customers impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="nump">20,342,024<span></span>
</td>
<td class="nump">17,567,703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueUpTo60DaysMember', window );">Past due up to 60 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract', window );"><strong>Loans and advances to customers impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="nump">2,915,081<span></span>
</td>
<td class="nump">4,067,322<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueBetween61And90DaysMember', window );">Past due between 61 and 90 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract', window );"><strong>Loans and advances to customers impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="nump">1,279,795<span></span>
</td>
<td class="nump">1,284,035<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueForMoreThan90DaysMember', window );">Past due for more than 90 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract', window );"><strong>Loans and advances to customers impaired</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="nump">R$ 16,996,533<span></span>
</td>
<td class="nump">R$ 19,214,755<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPortfolioNotYetDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPortfolioNotYetDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueUpTo60DaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueUpTo60DaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueBetween61And90DaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueBetween61And90DaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueForMoreThan90DaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAxis=bbd_LoansAndAdvancesToCustomersImpairedPastDueForMoreThan90DaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>142
<FILENAME>R103.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836802176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 8) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesImpairedByCategoryAbstract', window );"><strong>Loans And Advances Impaired By Category [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedCreditCard', window );">Credit card</a></td>
<td class="nump">R$ 6,158,265<span></span>
</td>
<td class="nump">R$ 5,962,131<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedWorkingCapital', window );">Working capital</a></td>
<td class="nump">6,052,758<span></span>
</td>
<td class="nump">5,940,498<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedPersonalCredit', window );">Personal credit</a></td>
<td class="nump">4,632,789<span></span>
</td>
<td class="nump">4,951,949<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedHousingLoans', window );">Housing loans</a></td>
<td class="nump">4,071,447<span></span>
</td>
<td class="nump">2,553,802<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedFinancingAndExport', window );">Financing and export</a></td>
<td class="nump">2,770,221<span></span>
</td>
<td class="nump">2,456,658<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit', window );">Vehicles - CDC (Direct consumer credit)</a></td>
<td class="nump">1,333,748<span></span>
</td>
<td class="nump">1,651,852<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedRuralLoans', window );">Rural loans</a></td>
<td class="nump">982,699<span></span>
</td>
<td class="nump">946,282<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedOnlendingBndesfiname', window );">Onlending BNDES/Finame</a></td>
<td class="nump">780,985<span></span>
</td>
<td class="nump">1,052,671<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedOverdraftForIndividuals', window );">Overdraft for individuals</a></td>
<td class="nump">638,506<span></span>
</td>
<td class="nump">882,992<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets', window );">Acquisition of assets</a></td>
<td class="nump">295,944<span></span>
</td>
<td class="nump">459,574<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedOverdraftForCorporate', window );">Overdraft for corporate</a></td>
<td class="nump">256,271<span></span>
</td>
<td class="nump">406,296<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpairedOthers', window );">Others</a></td>
<td class="nump">13,559,800<span></span>
</td>
<td class="nump">14,869,110<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Total</a></td>
<td class="nump">R$ 41,533,433<span></span>
</td>
<td class="nump">R$ 42,133,815<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesImpairedByCategoryAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances impaired by category</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesImpairedByCategoryAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Acquisition of assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedAcquisitionOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedCreditCard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Credit card</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedCreditCard</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedFinancingAndExport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Financing and export</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedFinancingAndExport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedHousingLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Housing loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedHousingLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedOnlendingBndesfiname">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Onlending BNDES/Finame</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedOnlendingBndesfiname</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedOverdraftForCorporate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Overdraft for corporate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedOverdraftForCorporate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedOverdraftForIndividuals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Overdraft for individuals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedOverdraftForIndividuals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedPersonalCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Personal credit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedPersonalCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedRuralLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Rural loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedRuralLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Vehicles &#8211; CDC (Direct consumer credit)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedVehiclesCdcDirectConsumerCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpairedWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers impaired - Working capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpairedWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>143
<FILENAME>R104.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830947536">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 9) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract', window );"><strong>Renegotiated Loans And Advances To Customers [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear', window );">Opening balance</a></td>
<td class="nump">R$ 17,501,423<span></span>
</td>
<td class="nump">R$ 12,728,723<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionalRenegotiatedAmountsIncludingInterest', window );">Additional renegotiated amounts, including interest</a></td>
<td class="nump">16,185,863<span></span>
</td>
<td class="nump">18,777,814<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesToCustomersPaymentsReceived', window );">Payments received</a></td>
<td class="num">(10,108,040)<span></span>
</td>
<td class="num">(8,997,802)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesToCustomersWriteoffs', window );">Write-offs</a></td>
<td class="num">(6,395,377)<span></span>
</td>
<td class="num">(5,007,312)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear', window );">Closing balance</a></td>
<td class="nump">17,183,869<span></span>
</td>
<td class="nump">17,501,423<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="num">(10,853,777)<span></span>
</td>
<td class="num">(10,346,397)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear', window );">Total renegotiated loans and advances to customers, net of impairment at the end of the year</a></td>
<td class="nump">R$ 6,330,092<span></span>
</td>
<td class="nump">R$ 7,155,026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio', window );">Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</a></td>
<td class="nump">63.20%<span></span>
</td>
<td class="nump">59.10%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio', window );">Total renegotiated loans and advances as a percentage of the total loan portfolio</a></td>
<td class="nump">4.60%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment', window );">Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</a></td>
<td class="nump">1.80%<span></span>
</td>
<td class="nump">1.90%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdditionalRenegotiatedAmountsIncludingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional renegotiated amounts, including interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdditionalRenegotiatedAmountsIncludingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment on renegotiated loans and advances as a percentage of the renegotiated portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOnRenegotiatedLoansAndAdvancesAsPercentageOfTheRenegotiatedPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances at the beginning of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesAtTheBeginningOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances at the end of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesAtTheEndOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesToCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances to customers - Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesToCustomersImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesToCustomersPaymentsReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances to customers - Payments received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesToCustomersPaymentsReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RenegotiatedLoansAndAdvancesToCustomersWriteoffs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Renegotiated loans and advances to customers - Write-offs</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RenegotiatedLoansAndAdvancesToCustomersWriteoffs</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total renegotiated loans and advances as a percentage of the total loan portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total renegotiated loans and advances as a percentage of the total loan portfolio, net of impairment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalRenegotiatedLoansAndAdvancesAsPercentageOfTheTotalLoanPortfolioNetOfImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total renegotiated loans and advances to customers, net of impairment at the end of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalRenegotiatedLoansAndAdvancesToCustomersNetOfImpairmentAtTheEndOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>144
<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830193488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 10)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConcentrationOfCreditRiskInLoansAndAdvancesAbstract', window );"><strong>Concentration Of Credit Risk In Loans And Advances [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LargestBorrower', window );">Largest borrower</a></td>
<td class="nump">2.50%<span></span>
</td>
<td class="nump">2.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TenLargestBorrowers', window );">10 largest borrowers</a></td>
<td class="nump">8.20%<span></span>
</td>
<td class="nump">8.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TwentyLargestBorrowers', window );">20 largest borrowers</a></td>
<td class="nump">12.20%<span></span>
</td>
<td class="nump">12.60%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FiftyLargestBorrowers', window );">50 largest borrowers</a></td>
<td class="nump">17.80%<span></span>
</td>
<td class="nump">18.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HundredLargestBorrowers', window );">100 largest borrowers</a></td>
<td class="nump">22.20%<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConcentrationOfCreditRiskInLoansAndAdvancesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Concentration of credit risk in loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConcentrationOfCreditRiskInLoansAndAdvancesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FiftyLargestBorrowers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fifty largest borrowers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FiftyLargestBorrowers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HundredLargestBorrowers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Hundred largest borrowers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HundredLargestBorrowers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LargestBorrower">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Largest borrower</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LargestBorrower</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TenLargestBorrowers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ten largest borrowers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TenLargestBorrowers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TwentyLargestBorrowers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Twenty largest borrowers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TwentyLargestBorrowers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>145
<FILENAME>R106.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837452240">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 11) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ByEconomicActivitySectorAbstract', window );"><strong>By Economic Activity Sector [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPublicSector', window );">Public sector</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 9,676,927<span></span>
</td>
<td class="nump">R$ 8,813,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentagePublicSector', window );">Public sector %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.60%<span></span>
</td>
<td class="nump">2.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities', window );">Oil, derivatives and aggregate activities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 9,410,382<span></span>
</td>
<td class="nump">R$ 8,813,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities', window );">Oil, derivatives and aggregate activities %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.50%<span></span>
</td>
<td class="nump">2.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity', window );">Production and distribution of electricity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,322<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity', window );">Production and distribution of electricity %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOtherIndustries', window );">Other industries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 265,223<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries', window );">Other industries %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.10%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPrivateSector', window );">Private sector</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 364,136,738<span></span>
</td>
<td class="nump">R$ 383,270,292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentagePrivateSector', window );">Private sector %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">97.40%<span></span>
</td>
<td class="nump">97.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersCompanies', window );">Companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 190,148,345<span></span>
</td>
<td class="nump">R$ 212,344,421<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageCompanies', window );">Companies %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.90%<span></span>
</td>
<td class="nump">54.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities', window );">Real estate and construction activities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 29,383,442<span></span>
</td>
<td class="nump">R$ 33,888,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities', window );">Real estate and construction activities %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7.90%<span></span>
</td>
<td class="nump">8.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersRetail', window );">Retail</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 23,935,638<span></span>
</td>
<td class="nump">R$ 25,346,471<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageRetail', window );">Retail %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.40%<span></span>
</td>
<td class="nump">6.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersServices', window );">Services</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 17,996,533<span></span>
</td>
<td class="nump">R$ 18,172,147<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageServices', window );">Services %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.80%<span></span>
</td>
<td class="nump">4.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersTransportationAndConcession', window );">Transportation and concession</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 14,190,284<span></span>
</td>
<td class="nump">R$ 17,044,780<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession', window );">Transportation and concession %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersAutomotive', window );">Automotive</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 10,014,454<span></span>
</td>
<td class="nump">R$ 13,148,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageAutomotive', window );">Automotive %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.70%<span></span>
</td>
<td class="nump">3.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersFoodProducts', window );">Food products</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 8,866,028<span></span>
</td>
<td class="nump">R$ 10,870,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageFoodProducts', window );">Food products %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.40%<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersWholesale', window );">Wholesale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 9,045,916<span></span>
</td>
<td class="nump">R$ 10,704,646<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageWholesale', window );">Wholesale %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.40%<span></span>
</td>
<td class="nump">2.70%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity', window );">Production and distribution of electricity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,360,804<span></span>
</td>
<td class="nump">R$ 8,255,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity', window );">Production and distribution of electricity %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy', window );">Siderurgy and metallurgy</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,001,290<span></span>
</td>
<td class="nump">R$ 7,800,237<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy', window );">Siderurgy and metallurgy %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.90%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersSugarAndAlcohol', window );">Sugar and alcohol</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,042,811<span></span>
</td>
<td class="nump">R$ 7,514,693<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol', window );">Sugar and alcohol %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.90%<span></span>
</td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries', window );">Other industries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 55,311,145<span></span>
</td>
<td class="nump">R$ 59,598,603<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries', window );">Other industries %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14.80%<span></span>
</td>
<td class="nump">15.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersIndividuals', window );">Individuals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 173,988,393<span></span>
</td>
<td class="nump">R$ 170,925,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageIndividuals', window );">Individuals %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46.50%<span></span>
</td>
<td class="nump">43.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers', window );">Total Portfolio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 373,813,665<span></span>
</td>
<td class="nump">R$ 392,083,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio', window );">Total portfolio %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (27,055,566)<span></span>
</td>
<td class="num">R$ (24,780,839)<span></span>
</td>
<td class="num">R$ (25,455,204)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Total of net loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 346,758,099<span></span>
</td>
<td class="nump">R$ 367,303,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ByEconomicActivitySectorAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>By Economic Activity Sector</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ByEconomicActivitySectorAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersAutomotive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Automotive</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersAutomotive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersFoodProducts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Food products</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersFoodProducts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersIndividuals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Individuals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersIndividuals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Oil, derivatives and aggregate activities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOilDerivativesAndAggregateActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOtherIndustries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Other industries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOtherIndustries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageAutomotive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Automotive</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageAutomotive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageFoodProducts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Food products</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageFoodProducts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageIndividuals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Individuals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageIndividuals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Oil, derivatives and aggregate activities %</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageOilDerivativesAndAggregateActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Other industries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageOtherIndustries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentagePrivateSector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Private sector</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentagePrivateSector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Production and distribution of electricity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentagePublicSector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Public sector</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentagePublicSector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Real estate and construction activities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageRealEstateAndConstructionActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageRetail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Retail</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageRetail</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Services</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Siderurgy and metallurgy</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageSiderurgyAndMetallurgy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Sugar and alcohol</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageSugarAndAlcohol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Total portfolio %</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageTotalPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Transportation and concession</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageTransportationAndConcession</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPercentageWholesale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Percentage - Wholesale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPercentageWholesale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPrivateSector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Private sector</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPrivateSector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Production and distribution of electricity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersProductionAndDistributionOfElectricity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPublicSector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Public sector</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPublicSector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Real estate and construction activities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersRealEstateAndConstructionActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersRetail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Retail</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersRetail</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Services</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Siderurgy and metallurgy</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersSiderurgyAndMetallurgy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersSugarAndAlcohol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Sugar and alcohol</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersSugarAndAlcohol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersTransportationAndConcession">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Transportation and concession</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersTransportationAndConcession</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersWholesale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Wholesale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersWholesale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Private sector - Loans and advances to customers - Other industries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PrivateSectorLoansAndAdvancesToCustomersOtherIndustries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Private sector - Loans and advances to customers - Percentage - Other industries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageOtherIndustries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Private sector - Loans and advances to customers - Percentage - Production and distribution of electricity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PrivateSectorLoansAndAdvancesToCustomersPercentageProductionAndDistributionOfElectricity</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Private sector - Loans and advances to customers - Production and distribution of electricity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PrivateSectorLoansAndAdvancesToCustomersProductionAndDistributionOfElectricity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874633344">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 12) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Offsetting of financial assets and liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 123,691,195<span></span>
</td>
<td class="nump">R$ 84,728,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities sold under agreements to repurchase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">233,467,544<span></span>
</td>
<td class="nump">241,978,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=bbd_InterbankInvestmentsMember', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Offsetting of financial assets and liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets', window );">Related amount offset in the Balance Sheet</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition', window );">Net amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=bbd_DerivativeFinancialInstrumentsAssetsMember', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Offsetting of financial assets and liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="nump">16,755,442<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets', window );">Related amount offset in the Balance Sheet</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition', window );">Net amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="nump">16,755,442<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=bbd_SecuritiesSoldUnderAgreementsToRepurchaseMember', window );">Securities sold under agreements to repurchase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Offsetting of financial assets and liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities sold under agreements to repurchase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">233,467,544<span></span>
</td>
<td class="nump">241,978,931<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities', window );">Related amount not cleared in the Balance Sheet</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition', window );">Net amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">233,467,544<span></span>
</td>
<td class="nump">241,978,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=bbd_DerivativeFinancialInstrumentsLiabilitiesMember', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract', window );"><strong>Offsetting of financial assets and liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities sold under agreements to repurchase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,274,999<span></span>
</td>
<td class="nump">13,435,678<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities', window );">Related amount not cleared in the Balance Sheet</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition', window );">Net amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 14,274,999<span></span>
</td>
<td class="nump">R$ 13,435,678<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold in a separate repurchase agreement.</td>
</tr></table></td></tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Offsetting of financial assets and liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OffsettingOfFinancialAssetsAndLiabilitiesAbstract</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial instruments subject to an enforceable master netting arrangement or similar agreement that are not set off against financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph IG40D<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_IG40D&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial instruments subject to an enforceable master netting arrangement or similar agreement that are not set off against financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph IG40D<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_IG40D&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsSubjectToEnforceableMasterNettingArrangementOrSimilarAgreementNotSetOffAgainstFinancialLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial assets that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial liabilities that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net amount of financial assets that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement, presented in the statement of financial position. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_NetFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net amount of financial liabilities that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement, presented in the statement of financial position. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreementsInStatementOfFinancialPosition</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890759776">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 13) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 17,566,051<span></span>
</td>
<td class="nump">R$ 37,880,333<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Fixed rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">11,614,849<span></span>
</td>
<td class="nump">33,026,609<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | IGP-M (General Index of market pricing) / IPCA (Consumer price index)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">1,053,893<span></span>
</td>
<td class="nump">330,819<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Exchange coupon</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">1,808,598<span></span>
</td>
<td class="nump">997,507<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Foreign Currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">1,808,598<span></span>
</td>
<td class="nump">1,005,349<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Equities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">461,957<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Sovereign/Eurobonds and Treasuries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">560,619<span></span>
</td>
<td class="nump">2,301,628<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAndLiabilitiesAxis=bbd_FinancialExposureTradingPortfolioFairValueAssetsMember', window );">Assets | Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialExposureTradingPortfolioFairValueAbstract', window );"><strong>Financial Exposure - Trading Portfolio (Fair value)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">257,537<span></span>
</td>
<td class="nump">218,421<span></span>
</td>
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<tr class="rh">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6834719152">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 14) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioFixedRateMember', window );">Fixed rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 8,956<span></span>
</td>
<td class="nump">R$ 20,704<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioIGPMGeneralIndexOfMarketPricingIPCAConsumerPriceIndexMember', window );">IGP-M (General Index of market pricing) / IPCA (Consumer price index)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">2,751<span></span>
</td>
<td class="nump">416<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioExchangeCouponMember', window );">Exchange coupon</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">48<span></span>
</td>
<td class="nump">64<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioForeignCurrencyMember', window );">Foreign Currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">2,925<span></span>
</td>
<td class="nump">224<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioSovereigneurobondsAndTreasuriesMember', window );">Sovereign/Eurobonds and Treasuries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">826<span></span>
</td>
<td class="nump">3,230<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioEquitiesMember', window );">Equities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">289<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioOthersMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioCorrelationDiversificationEffectMember', window );">Correlation/diversification effect</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="num">(1,379)<span></span>
</td>
<td class="num">(1,892)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioVarAtTheEndOfTheYearMember', window );">VaR at the end of the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">14,417<span></span>
</td>
<td class="nump">22,748<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioAverageVarInTheYearMember', window );">Average VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">24,024<span></span>
</td>
<td class="nump">19,910<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioMinimumVarInTheYearMember', window );">Minimum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">5,499<span></span>
</td>
<td class="nump">9,408<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioMaximumVarInTheYearMember', window );">Maximum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioAbstract', window );"><strong>VaR Internal Model -Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 100,640<span></span>
</td>
<td class="nump">R$ 36,726<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_VarInternalModelTradingPortfolioAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>VaR Internal Model &#8211;Trading Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ValueAtRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ValueAtRisk</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioExchangeCouponMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioForeignCurrencyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioSovereigneurobondsAndTreasuriesMember</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioEquitiesMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioOthersMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioCorrelationDiversificationEffectMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioVarAtTheEndOfTheYearMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioAverageVarInTheYearMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioMinimumVarInTheYearMember</td>
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<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioAxis=bbd_VarInternalModelTradingPortfolioMaximumVarInTheYearMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>149
<FILENAME>R110.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874608448">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 15) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 37,659<span></span>
</td>
<td class="nump">R$ 70,231<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Exchange rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">7,715<span></span>
</td>
<td class="nump">12,966<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Commodity price (Commodities)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">1,110<span></span>
</td>
<td class="nump">12<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Equities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">2,065<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Correlation/diversification effect</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">36,429<span></span>
</td>
<td class="num">(1,872)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | VaR at the end of the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">84,978<span></span>
</td>
<td class="nump">81,337<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Average VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">87,358<span></span>
</td>
<td class="nump">70,249<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Minimum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">24,945<span></span>
</td>
<td class="nump">38,810<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioVaRMember', window );">VaR | Maximum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">369,342<span></span>
</td>
<td class="nump">131,105<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">48,400<span></span>
</td>
<td class="nump">149,043<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Exchange rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">17,300<span></span>
</td>
<td class="nump">27,713<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Commodity price (Commodities)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">200<span></span>
</td>
<td class="nump">29<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Equities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">7,400<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Correlation/diversification effect</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">240<span></span>
</td>
<td class="num">(8,296)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | VaR at the end of the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">73,540<span></span>
</td>
<td class="nump">168,489<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Average VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">107,059<span></span>
</td>
<td class="nump">179,169<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Minimum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">26,803<span></span>
</td>
<td class="nump">83,230<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember', window );">Stressed | Maximum VaR in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelRegulatoryPortfolioAbstract', window );"><strong>VaR Internal Model - Regulatory Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 236,895<span></span>
</td>
<td class="nump">R$ 247,814<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_VarInternalModelRegulatoryPortfolioAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>VaR Internal Model &#8211; Regulatory Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioInterestRateMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioExchangeRateMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioCommodityPriceCommoditiesMember</td>
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<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioEquitiesMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioCorrelationDiversificationEffectMember</td>
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<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioVarAtTheEndOfTheYearMember</td>
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<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioMinimumVarInTheYearMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelRegulatoryPortfolioAxis=bbd_VarInternalModelRegulatoryPortfolioMaximumVarInTheYearMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=bbd_VarInternalModelRegulatoryPortfolioStressedMember</td>
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<html>
<head>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 16) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioAtTheEndOfTheYearMember', window );">At the end of the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAbstract', window );"><strong>Stress Analysis - Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 103,949<span></span>
</td>
<td class="nump">R$ 338,004<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioAverageInTheYearMember', window );">Average in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAbstract', window );"><strong>Stress Analysis - Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">168,751<span></span>
</td>
<td class="nump">198,274<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioMinimumInTheYearMember', window );">Minimum in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAbstract', window );"><strong>Stress Analysis - Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">53,426<span></span>
</td>
<td class="nump">87,152<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioMaximumInTheYearMember', window );">Maximum in the year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAbstract', window );"><strong>Stress Analysis - Trading Portfolio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="nump">R$ 387,884<span></span>
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<td class="nump">R$ 371,395<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R112.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867621584">
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<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 17) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (359)<span></span>
</td>
<td class="num">R$ (1,074)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (147)<span></span>
</td>
<td class="num">R$ (26)<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (9)<span></span>
</td>
<td class="num">R$ (2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (1,629)<span></span>
</td>
<td class="num">R$ (106)<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (1,215)<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (2,469)<span></span>
</td>
<td class="num">R$ (1,464)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (5,828)<span></span>
</td>
<td class="num">R$ (2,672)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario1Member', window );">Scenario 1 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(3,448)<span></span>
</td>
<td class="num">(2,058)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (61,497)<span></span>
</td>
<td class="num">R$ (293,350)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (17,576)<span></span>
</td>
<td class="num">R$ (3,723)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (420)<span></span>
</td>
<td class="num">R$ (224)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (40,736)<span></span>
</td>
<td class="num">R$ (2,649)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (30,378)<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (61,730)<span></span>
</td>
<td class="num">R$ (11,649)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="num">R$ (19)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (212,337)<span></span>
</td>
<td class="num">R$ (311,614)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario2Member', window );">Scenario 2 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(131,662)<span></span>
</td>
<td class="num">(295,900)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (120,385)<span></span>
</td>
<td class="num">R$ (568,367)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (33,298)<span></span>
</td>
<td class="num">R$ (7,174)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (839)<span></span>
</td>
<td class="num">R$ (437)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (81,473)<span></span>
</td>
<td class="num">R$ (5,297)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (60,757)<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (123,461)<span></span>
</td>
<td class="num">R$ (24,751)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="num">R$ (39)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (420,213)<span></span>
</td>
<td class="num">R$ (606,065)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingPortfolioAxis=bbd_TradingPortfolioScenario3Member', window );">Scenario 3 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (259,684)<span></span>
</td>
<td class="num">R$ (574,058)<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Values net of taxes.</td>
</tr></table></td></tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis &#8211; Trading Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingPortfolioAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of exposures to risks arising from financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExposureToRisk</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<FILENAME>R113.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871385408">
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<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 18) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (12,579)<span></span>
</td>
<td class="num">R$ (8,994)<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (512)<span></span>
</td>
<td class="num">R$ (9,255)<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (1,575)<span></span>
</td>
<td class="num">R$ (455)<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (600)<span></span>
</td>
<td class="num">R$ (867)<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (16,289)<span></span>
</td>
<td class="num">R$ (14,817)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (4,978)<span></span>
</td>
<td class="num">R$ (1,786)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (12)<span></span>
</td>
<td class="num">R$ (1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (36,545)<span></span>
</td>
<td class="num">R$ (36,175)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario1Member', window );">Scenario 1 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(26,956)<span></span>
</td>
<td class="num">(26,893)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (2,339,939)<span></span>
</td>
<td class="num">R$ (2,466,388)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (56,130)<span></span>
</td>
<td class="num">R$ (1,224,208)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (80,110)<span></span>
</td>
<td class="num">R$ (49,446)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (15,004)<span></span>
</td>
<td class="num">R$ (21,663)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (407,237)<span></span>
</td>
<td class="num">R$ (370,420)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (205,764)<span></span>
</td>
<td class="num">R$ (15,940)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (307)<span></span>
</td>
<td class="num">R$ (28)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (3,104,491)<span></span>
</td>
<td class="num">R$ (4,148,093)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member', window );">Scenario 2 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,678,101)<span></span>
</td>
<td class="num">(3,691,157)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (4,560,181)<span></span>
</td>
<td class="num">R$ (4,786,687)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
<td class="text">Exposure subject to variations in fixed interest rates and interest rate coupons<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Price indexes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (107,716)<span></span>
</td>
<td class="num">R$ (2,264,187)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in price index coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Exchange coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (158,548)<span></span>
</td>
<td class="num">R$ (93,726)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
<td class="text">Exposure subject to variations in foreign currency coupon rates<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Foreign Currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (30,008)<span></span>
</td>
<td class="num">R$ (43,327)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
<td class="text">Exposure subject to exchange rate variations<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (814,475)<span></span>
</td>
<td class="num">R$ (740,841)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
<td class="text">Exposure subject to variation in stock prices<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Sovereign/Eurobonds and Treasuries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (406,054)<span></span>
</td>
<td class="num">R$ (32,801)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
<td class="text">Exposure subject to variations in the interest rate of securities traded on the international market<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (613)<span></span>
</td>
<td class="num">R$ (55)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExposureToRisk', window );">Definition</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
<td class="text">Exposure not classified in other definitions<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Total excluding correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (6,077,595)<span></span>
</td>
<td class="num">R$ (7,961,624)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member', window );">Scenario 3 | Total including correlation of risk factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract', window );"><strong>Sensitivity Analysis - Trading and Banking Portfolio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Risk Factors</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (5,232,466)<span></span>
</td>
<td class="num">R$ (7,090,253)<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Values net of taxes.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensitivity Analysis &#8211; Trading and Banking Portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfExposureToRisk">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of exposures to risks arising from financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExposureToRisk</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAxis=bbd_SensitivityAnalysisTradingAndBankingPortfolioForeignCurrencyMember</td>
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<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAxis=bbd_SensitivityAnalysisTradingAndBankingPortfolioEquitiesMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAxis=bbd_SensitivityAnalysisTradingAndBankingPortfolioSovereignEurobondsAndTreasuriesMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAxis=bbd_SensitivityAnalysisTradingAndBankingPortfolioTotalWithoutCorrelationMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisTradingAndBankingPortfolioAxis=bbd_SensitivityAnalysisTradingAndBankingPortfolioTotalWithCorrelationMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario2Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TradingBankingPortfoliosAxis=bbd_TradingBankingPortfoliosScenario3Member</td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>153
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830436640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 19)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_YearAxis=bbd_Year2016Member', window );">2016</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LCRLiquidityCoverageRatioAbstract', window );"><strong>LCR - Liquidity Coverage Ratio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Required', window );">% Required</a></td>
<td class="nump">70.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_YearAxis=bbd_Year2017Member', window );">2017</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LCRLiquidityCoverageRatioAbstract', window );"><strong>LCR - Liquidity Coverage Ratio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Required', window );">% Required</a></td>
<td class="nump">80.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_YearAxis=bbd_Year2018Member', window );">2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LCRLiquidityCoverageRatioAbstract', window );"><strong>LCR - Liquidity Coverage Ratio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Required', window );">% Required</a></td>
<td class="nump">90.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_YearAxis=bbd_YearAsOf2019Member', window );">As of 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LCRLiquidityCoverageRatioAbstract', window );"><strong>LCR - Liquidity Coverage Ratio</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Required', window );">% Required</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LCRLiquidityCoverageRatioAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>LCR - Liquidity Coverage Ratio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LCRLiquidityCoverageRatioAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_Required">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>% Required</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_Required</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_YearAxis=bbd_Year2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_YearAxis=bbd_Year2016Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_YearAxis=bbd_Year2017Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_YearAxis=bbd_Year2017Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_YearAxis=bbd_Year2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_YearAxis=bbd_Year2018Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_YearAxis=bbd_YearAsOf2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_YearAxis=bbd_YearAsOf2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>154
<FILENAME>R115.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871527904">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 20) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><sup>[3]</sup></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalAdjustedAmountAbstract', window );"><strong>Total Adjusted Amount</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalHqla', window );">Total HQLA</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td colspan="2" class="nump">R$ 125,596,242<span></span>
</td>
<td colspan="2" class="nump">R$ 146,652,484<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalNetCashOutflow', window );">Total net cash outflow</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td colspan="2" class="nump">R$ 80,402,480<span></span>
</td>
<td colspan="2" class="nump">R$ 80,647,652<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Lcr', window );">LCR (%)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td colspan="2" class="nump">156.20%<span></span>
</td>
<td colspan="2" class="nump">181.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_AverageAmountMember', window );">Average Amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashOutlowsAbstract', window );"><strong>Cash Outlows</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RatailFunding', window );">Ratail funding:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">R$ 210,005,411<span></span>
</td>
<td colspan="2" class="nump">R$ 227,352,566<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StableFunding', window );">Stable funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">135,661,528<span></span>
</td>
<td colspan="2" class="nump">140,847,861<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LessStableFunding', window );">Less stable funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">74,343,883<span></span>
</td>
<td colspan="2" class="nump">86,504,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NoncollateralizedWholesaleFunding', window );">Non-collateralized wholesale funding:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">112,474,083<span></span>
</td>
<td colspan="2" class="nump">102,652,197<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits', window );">Operating deposits (all counterparties) and affiliated cooperative deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">8,152,936<span></span>
</td>
<td colspan="2" class="nump">6,226,398<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NonoperatingDepositsAllCounterparties', window );">Non-operating deposits (all counterparties)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">103,275,838<span></span>
</td>
<td colspan="2" class="nump">95,809,211<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherNoncollateralizedWholesaleFunding', window );">Other non-collateralized wholesale funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">1,045,309<span></span>
</td>
<td colspan="2" class="nump">616,588<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralizedWholesaleFunding', window );">Collateralized wholesale funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">0<span></span>
</td>
<td colspan="2" class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionalRequirements', window );">Additional requirements:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">97,751,894<span></span>
</td>
<td colspan="2" class="nump">99,952,624<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements', window );">Related to exposure to derivatives and other collateral requirements</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">15,192,265<span></span>
</td>
<td colspan="2" class="nump">16,283,688<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments', window );">Related to funding losses through the issue of debt instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">345,574<span></span>
</td>
<td colspan="2" class="nump">33,682<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToLinesOfCreditAndLiquidity', window );">Related to lines of credit and liquidity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">82,214,055<span></span>
</td>
<td colspan="2" class="nump">83,635,254<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherContractualObligations', window );">Other contractual obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">30,492,461<span></span>
</td>
<td colspan="2" class="nump">29,749,147<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherContingentObligations', window );">Other contingent obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">131,133,680<span></span>
</td>
<td colspan="2" class="nump">156,190,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCashOutflows', window );">Total cash outflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">0<span></span>
</td>
<td colspan="2" class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashInflowsAbstract', window );"><strong>Cash Inflows</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralizedLoans', window );">Collateralized loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">161,500,640<span></span>
</td>
<td colspan="2" class="nump">189,610,077<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OutstandingLoansWhosePaymentsAreFullyUptodate', window );">Outstanding loans whose payments are fully up-to-date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">32,424,050<span></span>
</td>
<td colspan="2" class="nump">37,529,539<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherCashInflows', window );">Other cash inflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">24,624,328<span></span>
</td>
<td colspan="2" class="nump">21,079,562<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCashInflows', window );">Total cash inflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td colspan="2" class="nump">218,549,018<span></span>
</td>
<td colspan="2" class="nump">248,219,178<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember', window );">Weighted Average Amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract', window );"><strong>Informatio on the Liquidity Coverage Ratio (LCR)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalHighQualityLiquidAssetsHqla', window );">Total High Quality Liquid Assets (HQLA)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">125,596,242<span></span>
</td>
<td colspan="2" class="nump">146,652,484<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashOutlowsAbstract', window );"><strong>Cash Outlows</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RatailFunding', window );">Ratail funding:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">17,749,477<span></span>
</td>
<td colspan="2" class="nump">16,702,571<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StableFunding', window );">Stable funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">6,783,076<span></span>
</td>
<td colspan="2" class="nump">4,225,436<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LessStableFunding', window );">Less stable funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">10,966,401<span></span>
</td>
<td colspan="2" class="nump">12,477,135<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NoncollateralizedWholesaleFunding', window );">Non-collateralized wholesale funding:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">50,716,519<span></span>
</td>
<td colspan="2" class="nump">49,853,687<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits', window );">Operating deposits (all counterparties) and affiliated cooperative deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">407,647<span></span>
</td>
<td colspan="2" class="nump">192,711<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NonoperatingDepositsAllCounterparties', window );">Non-operating deposits (all counterparties)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">49,263,563<span></span>
</td>
<td colspan="2" class="nump">49,044,388<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherNoncollateralizedWholesaleFunding', window );">Other non-collateralized wholesale funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">1,045,309<span></span>
</td>
<td colspan="2" class="nump">616,588<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralizedWholesaleFunding', window );">Collateralized wholesale funding</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">6,656,909<span></span>
</td>
<td colspan="2" class="nump">5,808,725<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionalRequirements', window );">Additional requirements:</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">13,746,422<span></span>
</td>
<td colspan="2" class="nump">15,328,908<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements', window );">Related to exposure to derivatives and other collateral requirements</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">7,089,564<span></span>
</td>
<td colspan="2" class="nump">9,017,294<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments', window );">Related to funding losses through the issue of debt instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">345,574<span></span>
</td>
<td colspan="2" class="nump">6,332<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RelatedToLinesOfCreditAndLiquidity', window );">Related to lines of credit and liquidity</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">6,311,284<span></span>
</td>
<td colspan="2" class="nump">6,305,282<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherContractualObligations', window );">Other contractual obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">28,811,462<span></span>
</td>
<td colspan="2" class="nump">29,749,147<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherContingentObligations', window );">Other contingent obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">5,160,312<span></span>
</td>
<td colspan="2" class="nump">5,581,011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCashOutflows', window );">Total cash outflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">122,841,100<span></span>
</td>
<td colspan="2" class="nump">123,024,048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashInflowsAbstract', window );"><strong>Cash Inflows</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralizedLoans', window );">Collateralized loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">0<span></span>
</td>
<td colspan="2" class="nump">937,935<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OutstandingLoansWhosePaymentsAreFullyUptodate', window );">Outstanding loans whose payments are fully up-to-date</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">21,009,387<span></span>
</td>
<td colspan="2" class="nump">24,090,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherCashInflows', window );">Other cash inflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">21,429,233<span></span>
</td>
<td colspan="2" class="nump">17,347,511<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCashInflows', window );">Total cash inflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td colspan="2" class="nump">R$ 42,438,620<span></span>
</td>
<td colspan="2" class="nump">R$ 42,376,396<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Calculated based on the simple daily average of the months that compose the quarter (61 observations);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Corresponds to the calculated value after the application of weighting factors and limits.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Corresponds to the total balance related to the item of cash inflows or outflows;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Corresponds to the value after application of the weighting factors; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdditionalRequirements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional requirements:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdditionalRequirements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashInflowsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash Inflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashInflowsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashOutlowsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash Outlows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashOutlowsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CollateralizedLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Collateralized loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CollateralizedLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CollateralizedWholesaleFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Collateralized wholesale funding</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CollateralizedWholesaleFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Informatio on the Liquidity Coverage Ratio (LCR)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InformatioOnTheLiquidityCoverageRatioLCRAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_Lcr">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>LCR (%)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_Lcr</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LessStableFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Less stable funding</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LessStableFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NoncollateralizedWholesaleFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-collateralized wholesale funding:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NoncollateralizedWholesaleFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NonoperatingDepositsAllCounterparties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-operating deposits (all counterparties)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NonoperatingDepositsAllCounterparties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating deposits (all counterparties) and affiliated cooperative deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OperatingDepositsAllCounterpartiesAndAffiliatedCooperativeDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherCashInflows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other cash inflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherCashInflows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherContingentObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other contingent obligations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherContingentObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherContractualObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other contractual obligations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherContractualObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherNoncollateralizedWholesaleFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other non-collateralized wholesale funding</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherNoncollateralizedWholesaleFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OutstandingLoansWhosePaymentsAreFullyUptodate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Outstanding loans whose payments are fully up-to-date</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OutstandingLoansWhosePaymentsAreFullyUptodate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RatailFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratail funding:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RatailFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Related to exposure to derivatives and other collateral requirements</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RelatedToExposureToDerivativesAndOtherCollateralRequirements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Related to funding losses through the issue of debt instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RelatedToFundingLossesThroughTheIssueOfDebtInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RelatedToLinesOfCreditAndLiquidity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Related to lines of credit and liquidity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RelatedToLinesOfCreditAndLiquidity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StableFunding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stable funding</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StableFunding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalAdjustedAmountAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total Adjusted Amount</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalAdjustedAmountAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalCashInflows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cash inflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalCashInflows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalCashOutflows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cash outflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalCashOutflows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalHighQualityLiquidAssetsHqla">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total High Quality Liquid Assets (HQLA)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalHighQualityLiquidAssetsHqla</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalHqla">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total HQLA</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalHqla</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalNetCashOutflow">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total net cash outflow</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalNetCashOutflow</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_AverageAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_AverageAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>155
<FILENAME>R116.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868564240">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 21) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 293,559,737<span></span>
</td>
<td class="nump">R$ 316,285,779<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">272,820,671<span></span>
</td>
<td class="nump">250,783,068<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">164,765,133<span></span>
</td>
<td class="nump">194,148,983<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">71,775,114<span></span>
</td>
<td class="nump">71,534,166<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">62,439,512<span></span>
</td>
<td class="nump">61,590,742<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">865,360,167<span></span>
</td>
<td class="nump">894,342,738<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember', window );">1 to 30 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">197,275,471<span></span>
</td>
<td class="nump">166,104,038<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">141,846,015<span></span>
</td>
<td class="nump">137,186,325<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,346,915<span></span>
</td>
<td class="nump">10,239,074<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">896,349<span></span>
</td>
<td class="nump">439,974<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">43,606,124<span></span>
</td>
<td class="nump">41,547,649<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">386,970,874<span></span>
</td>
<td class="nump">355,517,060<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember', window );">31 to 180 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,199,209<span></span>
</td>
<td class="nump">18,369,626<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,519,939<span></span>
</td>
<td class="nump">9,655,017<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,222,173<span></span>
</td>
<td class="nump">11,971,886<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,705,136<span></span>
</td>
<td class="nump">2,268,618<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8,785,744<span></span>
</td>
<td class="nump">9,025,726<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50,432,201<span></span>
</td>
<td class="nump">51,290,873<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember', window );">181 to 360 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,240,285<span></span>
</td>
<td class="nump">67,893,343<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,476,264<span></span>
</td>
<td class="nump">16,460,997<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">69,548,689<span></span>
</td>
<td class="nump">78,896,618<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,942,643<span></span>
</td>
<td class="nump">11,958,373<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,290,146<span></span>
</td>
<td class="nump">2,516,140<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">142,498,027<span></span>
</td>
<td class="nump">177,725,471<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">From 1 to 5 years</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25,251,295<span></span>
</td>
<td class="nump">57,316,125<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">106,861,185<span></span>
</td>
<td class="nump">87,377,222<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">77,143,455<span></span>
</td>
<td class="nump">91,190,406<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">27,064,409<span></span>
</td>
<td class="nump">24,756,298<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,711,492<span></span>
</td>
<td class="nump">3,837,647<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">240,031,836<span></span>
</td>
<td class="nump">264,477,698<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">More than 5 years</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract', window );"><strong>Undiscounted cash flows of financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,593,477<span></span>
</td>
<td class="nump">6,602,647<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">117,268<span></span>
</td>
<td class="nump">103,507<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,503,901<span></span>
</td>
<td class="nump">1,850,999<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt', window );">Subordinated debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33,166,577<span></span>
</td>
<td class="nump">32,110,903<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,046,006<span></span>
</td>
<td class="nump">4,663,580<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 45,427,229<span></span>
</td>
<td class="nump">R$ 45,331,636<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Include, mainly, credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Deposits from banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Deposits from customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Funds from securities issued</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesFundsFromSecuritiesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Other financial liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesOtherFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Subordinated debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesSubordinatedDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows of financial liabilities - Total liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsOfFinancialLiabilitiesTotalLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>156
<FILENAME>R117.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836318064">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 22) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">R$ 13,276,763<span></span>
</td>
<td class="nump">R$ 11,021,775<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">512,005<span></span>
</td>
<td class="nump">2,739,946<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">284,403<span></span>
</td>
<td class="nump">1,155,258<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">227,602<span></span>
</td>
<td class="nump">1,584,688<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">965,425<span></span>
</td>
<td class="nump">262,658<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">155,305<span></span>
</td>
<td class="nump">19,164<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">14,909,498<span></span>
</td>
<td class="nump">14,043,543<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember', window );">1 to 30 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">279,134<span></span>
</td>
<td class="nump">1,426,666<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">201,115<span></span>
</td>
<td class="nump">1,772,919<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">73,599<span></span>
</td>
<td class="nump">212,953<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">127,516<span></span>
</td>
<td class="nump">1,559,966<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">551,220<span></span>
</td>
<td class="nump">150,945<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">155,305<span></span>
</td>
<td class="nump">19,164<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">1,186,774<span></span>
</td>
<td class="nump">3,369,694<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember', window );">31 to 180 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">125,468<span></span>
</td>
<td class="nump">183,769<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">95,761<span></span>
</td>
<td class="nump">264,887<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">53,513<span></span>
</td>
<td class="nump">256,669<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">42,248<span></span>
</td>
<td class="nump">8,218<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">13,510<span></span>
</td>
<td class="nump">28,342<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">234,739<span></span>
</td>
<td class="nump">476,998<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember', window );">181 to 360 days</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">536,406<span></span>
</td>
<td class="nump">546,569<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">147,710<span></span>
</td>
<td class="nump">542,923<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">90,914<span></span>
</td>
<td class="nump">534,800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">56,796<span></span>
</td>
<td class="nump">8,123<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">34,443<span></span>
</td>
<td class="nump">40,154<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">718,559<span></span>
</td>
<td class="nump">1,129,646<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">From 1 to 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">12,169,717<span></span>
</td>
<td class="nump">8,695,486<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">66,682<span></span>
</td>
<td class="nump">158,670<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">65,640<span></span>
</td>
<td class="nump">150,289<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">1,042<span></span>
</td>
<td class="nump">8,381<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">63,052<span></span>
</td>
<td class="nump">43,217<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">12,299,451<span></span>
</td>
<td class="nump">8,897,373<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">More than 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UndiscountedCashFlowsForDerivativesAbstract', window );"><strong>Undiscounted cash flows for derivatives</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged', window );">Differential of swaps payable</a></td>
<td class="nump">166,038<span></span>
</td>
<td class="nump">169,285<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwards', window );">Non-deliverable forwards</a></td>
<td class="nump">737<span></span>
</td>
<td class="nump">547<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsPurchased', window );">Purchased</a></td>
<td class="nump">737<span></span>
</td>
<td class="nump">547<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NondeliverableForwardsSold', window );">Sold</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PremiumsOfOptions', window );">Premiums of options</a></td>
<td class="nump">303,200<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdjustmentPayablesFuture', window );">Adjustment payables - future</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalOfDerivativeLiabilities', window );">Total of derivative liabilities</a></td>
<td class="nump">R$ 469,975<span></span>
</td>
<td class="nump">R$ 169,832<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdjustmentPayablesFuture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustment payables - future</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdjustmentPayablesFuture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NondeliverableForwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-deliverable forwards</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NondeliverableForwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NondeliverableForwardsPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-deliverable forwards - Purchased</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NondeliverableForwardsPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NondeliverableForwardsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-deliverable forwards - Sold</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NondeliverableForwardsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PremiumsOfOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Premiums of options</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PremiumsOfOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalOfDerivativeLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of derivative liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalOfDerivativeLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UndiscountedCashFlowsForDerivativesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undiscounted cash flows for derivatives</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UndiscountedCashFlowsForDerivativesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows in relation to net amounts for pay-floating (receive-fixed) interest rate swaps for which net cash flows are exchanged. [Refer: Swap contract [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph B11D<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_B11D_c&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetAmountsForPayfloatingReceivefixedInterestRateSwapsForWhichNetCashFlowsAreExchanged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>157
<FILENAME>R118.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6888170000">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 23) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndBankBalancesAtCentralBanks', window );">Cash and balances with banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 81,742,951<span></span>
</td>
<td class="nump">R$ 72,554,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">241,710,041<span></span>
</td>
<td class="nump">213,139,846<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">159,412,722<span></span>
</td>
<td class="nump">113,118,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="nump">43,002,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">183,975,173<span></span>
</td>
<td class="nump">155,286,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">32,247,724<span></span>
</td>
<td class="nump">94,838,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">346,758,099<span></span>
</td>
<td class="nump">367,303,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">41,719,483<span></span>
</td>
<td class="nump">39,171,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,126,572,311<span></span>
</td>
<td class="nump">1,098,414,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,957,468<span></span>
</td>
<td class="nump">301,662,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">262,008,445<span></span>
</td>
<td class="nump">232,747,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,274,999<span></span>
</td>
<td class="nump">13,435,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">135,174,090<span></span>
</td>
<td class="nump">151,101,938<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50,179,401<span></span>
</td>
<td class="nump">52,611,064<span></span>
</td>
<td class="nump">R$ 50,282,936<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">239,089,590<span></span>
</td>
<td class="nump">215,840,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">62,439,512<span></span>
</td>
<td class="nump">61,590,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,049,123,505<span></span>
</td>
<td class="nump">1,028,990,033<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">From 1 to 5 years</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">83,816,085<span></span>
</td>
<td class="nump">60,251,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">531,664,989<span></span>
</td>
<td class="nump">528,853,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">796,304,508<span></span>
</td>
<td class="nump">766,124,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current | 1 to 30 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndBankBalancesAtCentralBanks', window );">Cash and balances with banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">81,742,951<span></span>
</td>
<td class="nump">72,554,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15,181,714<span></span>
</td>
<td class="nump">18,475,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,422,266<span></span>
</td>
<td class="nump">5,629,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25,977,537<span></span>
</td>
<td class="nump">83,646,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,136,673<span></span>
</td>
<td class="nump">88,759,292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">55,830,036<span></span>
</td>
<td class="nump">58,151,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">25,375,820<span></span>
</td>
<td class="nump">25,657,932<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">229,674,750<span></span>
</td>
<td class="nump">352,874,327<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">197,177,061<span></span>
</td>
<td class="nump">162,977,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">142,525,722<span></span>
</td>
<td class="nump">137,252,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,552,386<span></span>
</td>
<td class="nump">12,428,599<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,422,727<span></span>
</td>
<td class="nump">7,295,059<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">738,929<span></span>
</td>
<td class="nump">426,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">207,499,559<span></span>
</td>
<td class="nump">182,739,608<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">43,606,124<span></span>
</td>
<td class="nump">41,547,649<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">608,522,508<span></span>
</td>
<td class="nump">544,667,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current | 31 to 180 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,934,575<span></span>
</td>
<td class="nump">6,768,610<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,392,915<span></span>
</td>
<td class="nump">2,127,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,454<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">111,922,357<span></span>
</td>
<td class="nump">3,394,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,544,426<span></span>
</td>
<td class="nump">2,545,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">80,715,548<span></span>
</td>
<td class="nump">87,409,338<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,340,567<span></span>
</td>
<td class="nump">633,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">217,852,842<span></span>
</td>
<td class="nump">102,879,131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,640,587<span></span>
</td>
<td class="nump">63,417,792<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,400,607<span></span>
</td>
<td class="nump">15,331,311<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">201,643<span></span>
</td>
<td class="nump">534,525<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,299,770<span></span>
</td>
<td class="nump">45,280,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,428,997<span></span>
</td>
<td class="nump">3,904,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,411,996<span></span>
</td>
<td class="nump">3,342,339<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">8,785,744<span></span>
</td>
<td class="nump">9,025,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93,169,344<span></span>
</td>
<td class="nump">140,836,645<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current | 181 to 360 days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,501,249<span></span>
</td>
<td class="nump">9,759,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,351,886<span></span>
</td>
<td class="nump">4,149,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,205<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,543,922<span></span>
</td>
<td class="nump">1,904,827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,387,187<span></span>
</td>
<td class="nump">2,120,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">51,526,092<span></span>
</td>
<td class="nump">54,879,049<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,807,856<span></span>
</td>
<td class="nump">287,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">84,137,397<span></span>
</td>
<td class="nump">73,100,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,589,994<span></span>
</td>
<td class="nump">19,850,717<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,531,633<span></span>
</td>
<td class="nump">9,457,530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">81,073<span></span>
</td>
<td class="nump">279,662<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">48,540,240<span></span>
</td>
<td class="nump">40,140,968<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">640,536<span></span>
</td>
<td class="nump">7,068,023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">939,034<span></span>
</td>
<td class="nump">1,306,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">2,290,146<span></span>
</td>
<td class="nump">2,516,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">94,612,656<span></span>
</td>
<td class="nump">80,619,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember', window );">Non-current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">594,907,322<span></span>
</td>
<td class="nump">569,560,305<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">252,818,997<span></span>
</td>
<td class="nump">262,865,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember', window );">Non-current | From 1 to 5 years</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">146,527,365<span></span>
</td>
<td class="nump">134,589,655<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">83,816,085<span></span>
</td>
<td class="nump">60,251,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,284,940<span></span>
</td>
<td class="nump">12,932,440<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,965,417<span></span>
</td>
<td class="nump">48,753,065<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,754,483<span></span>
</td>
<td class="nump">1,398,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">114,151,120<span></span>
</td>
<td class="nump">125,744,273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">11,322,882<span></span>
</td>
<td class="nump">10,384,379<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">408,822,292<span></span>
</td>
<td class="nump">394,054,061<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">22,221,075<span></span>
</td>
<td class="nump">50,045,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">97,523,112<span></span>
</td>
<td class="nump">70,641,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">134,649<span></span>
</td>
<td class="nump">192,649<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">51,142,979<span></span>
</td>
<td class="nump">57,237,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,767,242<span></span>
</td>
<td class="nump">21,554,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">28,239,001<span></span>
</td>
<td class="nump">28,451,293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">3,711,492<span></span>
</td>
<td class="nump">3,837,647<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">223,739,550<span></span>
</td>
<td class="nump">231,960,711<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember', window );">Non-current | More than 5 years</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">56,173,284<span></span>
</td>
<td class="nump">35,837,056<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33,391,763<span></span>
</td>
<td class="nump">31,143,446<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,691,766<span></span>
</td>
<td class="nump">30,069,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Financial assets pledged as collateral</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,565,940<span></span>
</td>
<td class="nump">17,586,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">424,955<span></span>
</td>
<td class="nump">14,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">44,535,303<span></span>
</td>
<td class="nump">41,119,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,872,358<span></span>
</td>
<td class="nump">2,207,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">167,655,369<span></span>
</td>
<td class="nump">157,978,459<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,328,751<span></span>
</td>
<td class="nump">5,371,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">27,371<span></span>
</td>
<td class="nump">64,455<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial liabilities held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">305,248<span></span>
</td>
<td class="nump">243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">768,374<span></span>
</td>
<td class="nump">1,148,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,603,697<span></span>
</td>
<td class="nump">19,657,362<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentFinancialLiabilities', window );">Other financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">4,046,006<span></span>
</td>
<td class="nump">4,663,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,079,447<span></span>
</td>
<td class="nump">30,905,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember', window );">Non-current | No stated maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,391,854<span></span>
</td>
<td class="nump">7,710,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,037,807<span></span>
</td>
<td class="nump">9,817,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 18,429,661<span></span>
</td>
<td class="nump">R$ 17,527,785<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Includes mainly foreign exchange transactions, debtors for guarantee deposits and negotiation and intermediation of securities;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Includes mainly credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, finance lease and capitalization bonds.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateral</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and bank balances held at central banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from customers held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss classified as held for trading. A financial asset is classified as held for trading if: (a) it is acquired principally for the purpose of selling it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities at fair value through profit or loss that meet the definition of held for trading. A financial liability is classified as held for trading if: (a) it is acquired or incurred principally for the purpose of selling or repurchasing it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: Financial liabilities at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets that the entity does not separately disclose in the same statement or note. [Refer: Other financial assets; Current financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities; Current financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph m<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_m&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are subordinate to other liabilities with respect to claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeMonthsAndNotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=bbd_NoStatedMaturityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=bbd_NoStatedMaturityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>158
<FILENAME>R119.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6888845936">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 24) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="nump">R$ 1,126,572,311<span></span>
</td>
<td class="nump">R$ 1,098,414,017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Non-current assets held for sale</a></td>
<td class="nump">1,520,973<span></span>
</td>
<td class="nump">1,578,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in associated companies</a></td>
<td class="nump">8,257,384<span></span>
</td>
<td class="nump">7,002,778<span></span>
</td>
<td class="nump">R$ 5,815,325<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">8,432,475<span></span>
</td>
<td class="nump">8,397,116<span></span>
</td>
<td class="nump">5,504,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets and goodwill, net of accumulated amortization</a></td>
<td class="nump">16,179,307<span></span>
</td>
<td class="nump">15,797,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsNoncurrent', window );">Taxes to be offset</a></td>
<td class="nump">10,524,575<span></span>
</td>
<td class="nump">7,723,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred income tax assets</a></td>
<td class="nump">43,731,911<span></span>
</td>
<td class="nump">45,116,863<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialAssets', window );">Other assets</a></td>
<td class="nump">9,134,504<span></span>
</td>
<td class="nump">7,999,179<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Total non-financial assets</a></td>
<td class="nump">97,781,129<span></span>
</td>
<td class="nump">93,615,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">1,224,353,440<span></span>
</td>
<td class="nump">1,192,029,656<span></span>
</td>
<td class="nump">1,026,703,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="nump">1,049,123,505<span></span>
</td>
<td class="nump">1,028,990,033<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">18,490,727<span></span>
</td>
<td class="nump">18,292,409<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current income tax liabilities</a></td>
<td class="nump">2,416,345<span></span>
</td>
<td class="nump">2,130,286<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liabilities</a></td>
<td class="nump">1,251,847<span></span>
</td>
<td class="nump">1,762,948<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialLiabilities', window );">Other liabilities</a></td>
<td class="nump">35,377,312<span></span>
</td>
<td class="nump">35,374,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialLiabilities', window );">Total non-financial liabilities</a></td>
<td class="nump">57,536,231<span></span>
</td>
<td class="nump">57,560,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">117,693,704<span></span>
</td>
<td class="nump">105,479,207<span></span>
</td>
<td class="nump">R$ 90,914,762<span></span>
</td>
<td class="nump">R$ 82,291,805<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">1,224,353,440<span></span>
</td>
<td class="nump">1,192,029,656<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="nump">531,664,989<span></span>
</td>
<td class="nump">528,853,712<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Non-current assets held for sale</a></td>
<td class="nump">1,520,973<span></span>
</td>
<td class="nump">1,578,966<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsNoncurrent', window );">Taxes to be offset</a></td>
<td class="nump">4,589,981<span></span>
</td>
<td class="nump">3,114,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialAssets', window );">Other assets</a></td>
<td class="nump">6,602,669<span></span>
</td>
<td class="nump">5,278,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Total non-financial assets</a></td>
<td class="nump">12,713,623<span></span>
</td>
<td class="nump">9,972,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">544,378,612<span></span>
</td>
<td class="nump">538,825,962<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="nump">796,304,508<span></span>
</td>
<td class="nump">766,124,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">1,349,366<span></span>
</td>
<td class="nump">4,293,374<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilitiesCurrent', window );">Current income tax liabilities</a></td>
<td class="nump">2,416,345<span></span>
</td>
<td class="nump">2,130,286<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liabilities</a></td>
<td class="nump">36,344<span></span>
</td>
<td class="nump">36,943<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialLiabilities', window );">Other liabilities</a></td>
<td class="nump">33,460,225<span></span>
</td>
<td class="nump">34,917,264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialLiabilities', window );">Total non-financial liabilities</a></td>
<td class="nump">37,262,280<span></span>
</td>
<td class="nump">41,377,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">833,566,788<span></span>
</td>
<td class="nump">807,502,081<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember', window );">Non-current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Total financial assets</a></td>
<td class="nump">594,907,322<span></span>
</td>
<td class="nump">569,560,305<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investments in associated companies</a></td>
<td class="nump">8,257,384<span></span>
</td>
<td class="nump">7,002,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">8,432,475<span></span>
</td>
<td class="nump">8,397,116<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets and goodwill, net of accumulated amortization</a></td>
<td class="nump">16,179,307<span></span>
</td>
<td class="nump">15,797,526<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxAssetsNoncurrent', window );">Taxes to be offset</a></td>
<td class="nump">5,934,594<span></span>
</td>
<td class="nump">4,608,602<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Deferred income tax assets</a></td>
<td class="nump">43,731,911<span></span>
</td>
<td class="nump">45,116,863<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialAssets', window );">Other assets</a></td>
<td class="nump">2,531,835<span></span>
</td>
<td class="nump">2,720,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialAssets', window );">Total non-financial assets</a></td>
<td class="nump">85,067,506<span></span>
</td>
<td class="nump">83,643,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="nump">679,974,828<span></span>
</td>
<td class="nump">653,203,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="nump">252,818,997<span></span>
</td>
<td class="nump">262,865,819<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherProvisions', window );">Other provisions</a></td>
<td class="nump">17,141,361<span></span>
</td>
<td class="nump">13,999,035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Deferred income tax liabilities</a></td>
<td class="nump">1,215,503<span></span>
</td>
<td class="nump">1,726,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNonfinancialLiabilities', window );">Other liabilities</a></td>
<td class="nump">1,917,087<span></span>
</td>
<td class="nump">457,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentNonfinancialLiabilities', window );">Total non-financial liabilities</a></td>
<td class="nump">20,273,951<span></span>
</td>
<td class="nump">16,182,549<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total equity</a></td>
<td class="nump">117,693,704<span></span>
</td>
<td class="nump">105,479,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities and equity</a></td>
<td class="nump">R$ 390,786,652<span></span>
</td>
<td class="nump">R$ 384,527,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of current tax assets. [Refer: Current tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities. [Refer: Current tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale. [Refer: Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2017-01-01<br> -Paragraph 38<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2017-03-01&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentNonfinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current non-financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentNonfinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentNonfinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current non-financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentNonfinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNonfinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNonfinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNonfinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNonfinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions other than provisions for employee benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=bbd_NonCurrentMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6889599872">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 25) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Financial assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">R$ 202,249,272<span></span>
</td>
<td class="nump">R$ 161,103,399<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities', window );">Corporate debt and marketable equity securities</a></td>
<td class="nump">12,339,790<span></span>
</td>
<td class="nump">10,383,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">8,348,269<span></span>
</td>
<td class="nump">18,600,127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueMutualFunds', window );">Mutual funds</a></td>
<td class="nump">4,377,508<span></span>
</td>
<td class="nump">4,303,781<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">528,010<span></span>
</td>
<td class="nump">635,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">307<span></span>
</td>
<td class="nump">1,358,025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValue', window );">Trading securities</a></td>
<td class="nump">227,843,156<span></span>
</td>
<td class="nump">196,384,404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="nump">16,755,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsLiabilities', window );">Derivative financial instruments (liabilities)</a></td>
<td class="num">(14,274,999)<span></span>
</td>
<td class="num">(13,435,678)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativesFairValue', window );">Derivatives</a></td>
<td class="num">(408,114)<span></span>
</td>
<td class="nump">3,319,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">103,281,758<span></span>
</td>
<td class="nump">59,198,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">39,978,630<span></span>
</td>
<td class="nump">42,142,708<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">1,183,853<span></span>
</td>
<td class="nump">1,559,043<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">728,127<span></span>
</td>
<td class="nump">401,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">3,202,547<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">11,037,807<span></span>
</td>
<td class="nump">9,817,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">159,412,722<span></span>
</td>
<td class="nump">113,118,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">53,841,066<span></span>
</td>
<td class="nump">61,812,995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">825,287<span></span>
</td>
<td class="nump">3,899,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">4,904,070<span></span>
</td>
<td class="nump">4,742,273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">713,555<span></span>
</td>
<td class="nump">102,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValue', window );">Financial assets pledged as collateral</a></td>
<td class="nump">60,283,978<span></span>
</td>
<td class="nump">70,557,987<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Total</a></td>
<td class="nump">447,131,742<span></span>
</td>
<td class="nump">383,380,709<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Financial assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">198,273,452<span></span>
</td>
<td class="nump">157,346,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities', window );">Corporate debt and marketable equity securities</a></td>
<td class="nump">3,716,053<span></span>
</td>
<td class="nump">3,740,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">1,952,015<span></span>
</td>
<td class="nump">470,676<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueMutualFunds', window );">Mutual funds</a></td>
<td class="nump">4,377,508<span></span>
</td>
<td class="nump">4,295,403<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">528,010<span></span>
</td>
<td class="nump">635,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">307<span></span>
</td>
<td class="nump">1,358,025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValue', window );">Trading securities</a></td>
<td class="nump">208,847,345<span></span>
</td>
<td class="nump">167,846,369<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">46,601<span></span>
</td>
<td class="nump">26,632<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativesFairValue', window );">Derivatives</a></td>
<td class="nump">46,601<span></span>
</td>
<td class="nump">26,632<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">103,237,635<span></span>
</td>
<td class="nump">59,149,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">4,786,078<span></span>
</td>
<td class="nump">2,470,652<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">1,086,454<span></span>
</td>
<td class="nump">1,063,157<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">728,127<span></span>
</td>
<td class="nump">401,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">3,202,547<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">4,380,606<span></span>
</td>
<td class="nump">3,387,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">117,421,447<span></span>
</td>
<td class="nump">66,471,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">53,841,066<span></span>
</td>
<td class="nump">61,812,995<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">825,287<span></span>
</td>
<td class="nump">3,899,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">4,904,070<span></span>
</td>
<td class="nump">4,742,273<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">713,555<span></span>
</td>
<td class="nump">102,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralFairValue', window );">Financial assets pledged as collateral</a></td>
<td class="nump">60,283,978<span></span>
</td>
<td class="nump">70,557,987<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Total</a></td>
<td class="nump">386,599,371<span></span>
</td>
<td class="nump">304,902,495<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Financial assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">3,975,816<span></span>
</td>
<td class="nump">3,756,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities', window );">Corporate debt and marketable equity securities</a></td>
<td class="nump">8,271,295<span></span>
</td>
<td class="nump">6,356,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">6,396,254<span></span>
</td>
<td class="nump">18,129,451<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueMutualFunds', window );">Mutual funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValue', window );">Trading securities</a></td>
<td class="nump">18,643,365<span></span>
</td>
<td class="nump">28,250,811<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">13,814,312<span></span>
</td>
<td class="nump">16,728,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsLiabilities', window );">Derivative financial instruments (liabilities)</a></td>
<td class="num">(14,264,124)<span></span>
</td>
<td class="num">(13,427,053)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativesFairValue', window );">Derivatives</a></td>
<td class="num">(449,812)<span></span>
</td>
<td class="nump">3,301,749<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">31,740,856<span></span>
</td>
<td class="nump">38,431,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">97,399<span></span>
</td>
<td class="nump">495,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">3,261,732<span></span>
</td>
<td class="nump">2,706,578<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">35,099,987<span></span>
</td>
<td class="nump">41,633,694<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Total</a></td>
<td class="nump">53,293,540<span></span>
</td>
<td class="nump">73,186,254<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Financial assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">79<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities', window );">Corporate debt and marketable equity securities</a></td>
<td class="nump">352,442<span></span>
</td>
<td class="nump">287,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingFairValue', window );">Trading securities</a></td>
<td class="nump">352,446<span></span>
</td>
<td class="nump">287,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">5,972<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsLiabilities', window );">Derivative financial instruments (liabilities)</a></td>
<td class="num">(10,875)<span></span>
</td>
<td class="num">(8,625)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativesFairValue', window );">Derivatives</a></td>
<td class="num">(4,903)<span></span>
</td>
<td class="num">(8,617)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">44,123<span></span>
</td>
<td class="nump">48,702<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">3,451,696<span></span>
</td>
<td class="nump">1,240,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">3,395,469<span></span>
</td>
<td class="nump">3,723,825<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">6,891,288<span></span>
</td>
<td class="nump">5,013,353<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Total</a></td>
<td class="nump">R$ 7,238,831<span></span>
</td>
<td class="nump">R$ 5,291,960<span></span>
</td>
<td class="nump">R$ 6,274,018<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeFinancialInstrumentsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative financial instruments (liabilities)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativesFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivatives - Fair Value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativesFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets and liabilities measured at fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAndLiabilitiesMeasuredAtFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Bank debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Corporate debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Foreign governments securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Marketable equity securities and other stocks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueBankDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Bank debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueBankDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Corporate debt and marketable equity securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueCorporateDebtAndMarketableEquitySecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueForeignGovernmentsSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Foreign governments securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueForeignGovernmentsSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingFairValueMutualFunds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Fair Value - Mutual funds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingFairValueMutualFunds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Fair Value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Fair Value - Bank debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralFairValueBankDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Fair Value - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Fair Value - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralFairValueBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Fair Value - Corporate debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralFairValueCorporateDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839298528">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 26) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Reconciliation of all assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">R$ 447,131,742<span></span>
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<td class="nump">R$ 383,380,709<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Reconciliation of all assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Balance on</a></td>
<td class="nump">7,238,831<span></span>
</td>
<td class="nump">5,291,960<span></span>
</td>
<td class="nump">R$ 6,274,018<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesIncludedInTheStatementOfIncomeAndOtherComprehensiveIncome', window );">Included in the statement of income and other comprehensive income</a></td>
<td class="num">(719,134)<span></span>
</td>
<td class="num">(1,161,070)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions', window );">Acquisitions</a></td>
<td class="nump">4,098,466<span></span>
</td>
<td class="nump">2,194,071<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs', window );">Write-offs</a></td>
<td class="num">(1,432,461)<span></span>
</td>
<td class="num">(452,834)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels', window );">Transfer levels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,562,225)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 | Derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Reconciliation of all assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Balance on</a></td>
<td class="num">(4,903)<span></span>
</td>
<td class="num">(8,617)<span></span>
</td>
<td class="num">(20,382)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions', window );">Acquisitions</a></td>
<td class="nump">3,714<span></span>
</td>
<td class="nump">11,793<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs', window );">Write-offs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(28)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 | Financial assets held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Reconciliation of all assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Balance on</a></td>
<td class="nump">352,446<span></span>
</td>
<td class="nump">287,224<span></span>
</td>
<td class="nump">209,210<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesIncludedInTheStatementOfIncomeAndOtherComprehensiveIncome', window );">Included in the statement of income and other comprehensive income</a></td>
<td class="nump">15,868<span></span>
</td>
<td class="nump">13,155<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions', window );">Acquisitions</a></td>
<td class="nump">74,908<span></span>
</td>
<td class="nump">3,833<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs', window );">Write-offs</a></td>
<td class="num">(25,554)<span></span>
</td>
<td class="num">(7,633)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories', window );">Transfer with categories</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">274,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels', window );">Transfer levels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(205,342)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 | Financial assets available for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Reconciliation of all assets and liabilities measured at fair value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal', window );">Balance on</a></td>
<td class="nump">6,891,288<span></span>
</td>
<td class="nump">5,013,353<span></span>
</td>
<td class="nump">R$ 6,085,190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesIncludedInTheStatementOfIncomeAndOtherComprehensiveIncome', window );">Included in the statement of income and other comprehensive income</a></td>
<td class="num">(735,002)<span></span>
</td>
<td class="num">(1,174,225)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions', window );">Acquisitions</a></td>
<td class="nump">4,019,844<span></span>
</td>
<td class="nump">2,178,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs', window );">Write-offs</a></td>
<td class="num">R$ (1,406,907)<span></span>
</td>
<td class="num">(445,173)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories', window );">Transfer with categories</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(274,001)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels', window );">Transfer levels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (1,356,883)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Acquisitions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesIncludedInTheStatementOfIncomeAndOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Included in the statement of income and other comprehensive income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesIncludedInTheStatementOfIncomeAndOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Transfer levels</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferLevels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Transfer with categories</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesTransferWithCategories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial assets and liabilities - Write-offs</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FairValueOfFinancialAssetsAndLiabilitiesWriteoffs</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reconciliation of all assets and liabilities measured at fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReconciliationOfAllAssetsAndLiabilitiesMeasuredAtFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>161
<FILENAME>R122.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6888829616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 27) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeAbstract', window );"><strong>Gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueInterestAndSimilarIncome', window );">Interest and similar income</a></td>
<td class="nump">R$ 208,236<span></span>
</td>
<td class="nump">R$ 223,682<span></span>
</td>
<td class="nump">R$ 1,840,234<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetTradingGainslossesRealizedAndUnrealized', window );">Net trading gains/(losses) realized and unrealized</a></td>
<td class="num">(927,370)<span></span>
</td>
<td class="num">(1,384,752)<span></span>
</td>
<td class="nump">1,105,390<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesTotal', window );">Total</a></td>
<td class="num">(719,134)<span></span>
</td>
<td class="num">(1,161,070)<span></span>
</td>
<td class="nump">2,945,624<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember', window );">Financial assets held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeAbstract', window );"><strong>Gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueInterestAndSimilarIncome', window );">Interest and similar income</a></td>
<td class="nump">25,967<span></span>
</td>
<td class="nump">16,518<span></span>
</td>
<td class="nump">440,791<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetTradingGainslossesRealizedAndUnrealized', window );">Net trading gains/(losses) realized and unrealized</a></td>
<td class="num">(10,099)<span></span>
</td>
<td class="num">(3,363)<span></span>
</td>
<td class="nump">10,496<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesTotal', window );">Total</a></td>
<td class="nump">15,868<span></span>
</td>
<td class="nump">13,155<span></span>
</td>
<td class="nump">451,287<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember', window );">Financial assets available for sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeAbstract', window );"><strong>Gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueInterestAndSimilarIncome', window );">Interest and similar income</a></td>
<td class="nump">182,269<span></span>
</td>
<td class="nump">207,164<span></span>
</td>
<td class="nump">1,399,443<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetTradingGainslossesRealizedAndUnrealized', window );">Net trading gains/(losses) realized and unrealized</a></td>
<td class="num">(917,271)<span></span>
</td>
<td class="num">(1,381,389)<span></span>
</td>
<td class="nump">1,094,894<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesTotal', window );">Total</a></td>
<td class="num">R$ (735,002)<span></span>
</td>
<td class="num">R$ (1,174,225)<span></span>
</td>
<td class="nump">R$ 2,494,337<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses, recorded in the consolidated statement of income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheConsolidatedStatementOfIncomeAbstract</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains/(losses) due to changes in fair value, including the realized and unrealized gains and losses - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GainslossesDueToChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains/(losses) due to changes in fair value - Interest and similar income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GainslossesDueToChangesInFairValueInterestAndSimilarIncome</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetTradingGainslossesRealizedAndUnrealized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net trading gains/(losses) realized and unrealized</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetTradingGainslossesRealizedAndUnrealized</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAvailableforsaleCategoryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</body>
</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>162
<FILENAME>R123.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830246560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 28) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeAbstract', window );"><strong>Gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesDueToChangesInFairValue', window );">Net gains/(losses) due to changes in fair value</a></td>
<td class="num">R$ (10,099)<span></span>
</td>
<td class="num">R$ (3,363)<span></span>
</td>
<td class="nump">R$ 9,420<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesDueToChangesInFairValueTotal', window );">Total</a></td>
<td class="num">(10,099)<span></span>
</td>
<td class="num">(3,363)<span></span>
</td>
<td class="nump">9,420<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember', window );">Financial assets held for trading</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeAbstract', window );"><strong>Gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesDueToChangesInFairValue', window );">Net gains/(losses) due to changes in fair value</a></td>
<td class="num">(10,099)<span></span>
</td>
<td class="num">(3,363)<span></span>
</td>
<td class="nump">9,420<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesDueToChangesInFairValueTotal', window );">Total</a></td>
<td class="num">R$ (10,099)<span></span>
</td>
<td class="num">R$ (3,363)<span></span>
</td>
<td class="nump">R$ 9,420<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains/(losses) due to the changes in fair value, including the realized and unrealized gains and losses, recorded in the statement of income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GainslossesDueToTheChangesInFairValueIncludingTheRealizedAndUnrealizedGainsAndLossesRecordedInTheStatementOfIncomeAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) due to changes in fair value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesDueToChangesInFairValue</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) due to changes in fair value - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesDueToChangesInFairValueTotal</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTradingCategoryMember</td>
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<DOCUMENT>
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<FILENAME>R124.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831239136">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 29) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnIncome3Member', window );">Impact on income | Scenario 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">R$ (8)<span></span>
</td>
<td class="num">R$ (1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">(1,351)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnIncome3Member', window );">Impact on income | Scenario 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">(1,931)<span></span>
</td>
<td class="num">(271)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">(33,783)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnIncome3Member', window );">Impact on income | Scenario 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">(3,482)<span></span>
</td>
<td class="num">(476)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">(67,567)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnShareholdersEquityMember', window );">Impact on shareholders&#8217; equity | Scenario 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">(63)<span></span>
</td>
<td class="num">(26)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PriceIndices', window );">Price indexes</a></td>
<td class="num">(10)<span></span>
</td>
<td class="num">(8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">(17,825)<span></span>
</td>
<td class="num">(19,481)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnShareholdersEquityMember', window );">Impact on shareholders&#8217; equity | Scenario 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">(14,873)<span></span>
</td>
<td class="num">(6,205)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PriceIndices', window );">Price indexes</a></td>
<td class="num">(1,269)<span></span>
</td>
<td class="num">(1,047)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">(445,615)<span></span>
</td>
<td class="num">(487,018)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Axis=bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevelImpactOnShareholdersEquityMember', window );">Impact on shareholders&#8217; equity | Scenario 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisForFinancialAssetsClassifiedAsLevel3Abstract', window );"><strong>Sensitivity analysis for financial assets classified as Level 3</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestRateInBrl', window );">Interest rate</a></td>
<td class="num">(26,345)<span></span>
</td>
<td class="num">(11,088)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PriceIndices', window );">Price indexes</a></td>
<td class="num">(2,394)<span></span>
</td>
<td class="num">(1,953)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_Equities', window );">Equities</a></td>
<td class="num">R$ (891,231)<span></span>
</td>
<td class="num">R$ (974,037)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_Equities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_Equities</td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest rate in BRL</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestRateInBrl</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PriceIndices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price indices</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PriceIndices</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensitivity analysis for financial assets classified as Level 3</p></div>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868007232">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Risk Management (Details 30) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract', window );"><strong>Financial assets - Financial assets pledged as collateral</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities purchased under agreements to resell</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 123,691,195<span></span>
</td>
<td class="nump">R$ 84,728,590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="nump">43,002,028<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsLoansAndReceivablesAbstract', window );"><strong>Loans and receivables</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">32,247,724<span></span>
</td>
<td class="nump">94,838,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">346,758,099<span></span>
</td>
<td class="nump">367,303,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,957,468<span></span>
</td>
<td class="nump">301,662,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">262,008,445<span></span>
</td>
<td class="nump">232,747,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">135,174,090<span></span>
</td>
<td class="nump">151,101,938<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50,179,401<span></span>
</td>
<td class="nump">52,611,064<span></span>
</td>
<td class="nump">R$ 50,282,936<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember', window );">Fair Value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract', window );"><strong>Financial assets - Financial assets pledged as collateral</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities purchased under agreements to resell</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">41,146,271<span></span>
</td>
<td class="nump">44,254,749<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsLoansAndReceivablesAbstract', window );"><strong>Loans and receivables</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">32,247,724<span></span>
</td>
<td class="nump">94,838,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">346,633,592<span></span>
</td>
<td class="nump">362,156,027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,716,505<span></span>
</td>
<td class="nump">301,497,406<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">261,760,442<span></span>
</td>
<td class="nump">232,224,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">134,890,631<span></span>
</td>
<td class="nump">151,622,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">51,012,436<span></span>
</td>
<td class="nump">53,436,792<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember', window );">Fair Value | Level 1</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract', window );"><strong>Financial assets - Financial assets pledged as collateral</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,182,489<span></span>
</td>
<td class="nump">32,875,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember', window );">Fair Value | Level 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract', window );"><strong>Financial assets - Financial assets pledged as collateral</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities purchased under agreements to resell</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,963,782<span></span>
</td>
<td class="nump">11,379,323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsLoansAndReceivablesAbstract', window );"><strong>Loans and receivables</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Loans and advances to banks, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">32,247,724<span></span>
</td>
<td class="nump">94,838,136<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember', window );">Fair Value | Level 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsLoansAndReceivablesAbstract', window );"><strong>Loans and receivables</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Loans and advances to customers, net of impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">346,633,592<span></span>
</td>
<td class="nump">362,156,027<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Deposits from banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,716,505<span></span>
</td>
<td class="nump">301,497,406<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">261,760,442<span></span>
</td>
<td class="nump">232,224,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">134,890,631<span></span>
</td>
<td class="nump">151,622,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 51,012,436<span></span>
</td>
<td class="nump">R$ 53,436,792<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold in a separate repurchase agreement.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets - Financial assets pledged as collateral</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsFinancialAssetsPledgedAsCollateralAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsLoansAndReceivablesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets - Loans and receivables</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsLoansAndReceivablesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from customers held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial assets that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are subordinate to other liabilities with respect to claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsNotMeasuredAtFairValueAxis=bbd_FairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>165
<FILENAME>R126.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6870252144">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 31) - Prudential - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioAbstract', window );"><strong>Calculation basis - Capital Adequacy Ratio</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioTierICapital', window );">Tier I capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 80,084,744<span></span>
</td>
<td class="nump">R$ 78,762,886<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioCommonEquityTierI', window );">Common Equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">75,079,777<span></span>
</td>
<td class="nump">73,747,016<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioShareholdersEquity', window );">Shareholders' equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">110,457,476<span></span>
</td>
<td class="nump">100,442,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioMinorityOther', window );">Minority / Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">68,072<span></span>
</td>
<td class="nump">60,615<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioPrudentialAdjustments', window );">Prudential adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(35,445,771)<span></span>
</td>
<td class="num">(26,756,012)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioAdditionalCapital', window );">Additional Capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,004,967<span></span>
</td>
<td class="nump">5,015,870<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioTierIICapital', window );">Tier II capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,588,090<span></span>
</td>
<td class="nump">22,363,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtsResolutionNo419213', window );">Subordinated debts (Resolution No. 4.192/13)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,947,024<span></span>
</td>
<td class="nump">9,803,498<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtsPriorToResolutionNo419213', window );">Subordinated debts (prior to Resolution No. 4.192/13)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,641,066<span></span>
</td>
<td class="nump">12,560,452<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationBasisCapitalAdequacyRatioCapitalA', window );">Reference Equity (a)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">104,672,834<span></span>
</td>
<td class="nump">101,126,836<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaCreditRisk', window );">Credit risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">554,928,771<span></span>
</td>
<td class="nump">589,977,243<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaMarketRisk', window );">Market risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">8,908,205<span></span>
</td>
<td class="nump">15,767,767<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaOperationalRisk', window );">Operational risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,605,162<span></span>
</td>
<td class="nump">50,443,507<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets', window );">Risk-weighted assets - RWA (b)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">611,442,138<span></span>
</td>
<td class="nump">656,188,517<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BankingPortfoliosInterestRateRisk', window );">Banking Book's Interest Rate Risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,527,467<span></span>
</td>
<td class="nump">4,142,339<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MarginCapitalBuffer', window );">Margin (Capital Buffer)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">R$ 34,226,583<span></span>
</td>
<td class="nump">R$ 28,084,702<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentCapitalAdequacyRatioAB', window );">Basel ratio (a/b)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17.10%<span></span>
</td>
<td class="nump">15.40%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentTierCapital', window );">Tier I capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13.10%<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentCommonEquity', window );">- Common equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.30%<span></span>
</td>
<td class="nump">11.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentAdditionalCapital', window );">- Additional Capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">0.80%<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">As per January 2017, the factor applied to prudential adjustments went from 60% to 80%, according to the timeline for application of deductions of prudential adjustments, defined in Article11 of CMN Resolution no 4,192/13; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Margin = Minimum (PR &amp;#8211; PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BankingPortfoliosInterestRateRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Banking Portfolio's Interest Rate Risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BankingPortfoliosInterestRateRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioAdditionalCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Additional Capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioAdditionalCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioCapitalA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Capital (a)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioCapitalA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioCommonEquityTierI">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Common Equity tier I</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioCommonEquityTierI</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioMinorityOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Minority / Other</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioMinorityOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioPrudentialAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Prudential adjustments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioPrudentialAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Shareholders' equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioTierICapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Tier I capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioTierICapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationBasisCapitalAdequacyRatioTierIICapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation basis &#8211; Capital Adequacy Ratio - Tier II capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationBasisCapitalAdequacyRatioTierIICapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MarginCapitalBuffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Margin (Capital Buffer)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MarginCapitalBuffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentAdditionalCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional Capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentAdditionalCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentCapitalAdequacyRatioAB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital adequacy ratio (a / b)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentCapitalAdequacyRatioAB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentCommonEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentCommonEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentTierCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tier I capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentTierCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Credit risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaMarketRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Market risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaMarketRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaOperationalRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Operational risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaOperationalRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtsPriorToResolutionNo419213">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debts (prior to Resolution No. 4.192/13)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtsPriorToResolutionNo419213</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtsResolutionNo419213">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debts (Resolution No. 4.192/13)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtsResolutionNo419213</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in financial assets resulting from changes in models or risk parameters. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph IG20B<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_IG20B&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>166
<FILENAME>R127.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890528608">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 32) - Prudential - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskWeightedAssetsRWAAbstract', window );"><strong>Risk-weighted assets (RWA)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaCreditRisk', window );">Credit risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 554,928,771<span></span>
</td>
<td class="nump">R$ 589,977,243<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf0', window );">Risk Weight of 0%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf2', window );">Risk Weight of 2%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">314,012<span></span>
</td>
<td class="nump">271,970<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf20', window );">Risk Weight of 20%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,224,147<span></span>
</td>
<td class="nump">10,725,736<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf35', window );">Risk Weight of 35%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,208,602<span></span>
</td>
<td class="nump">9,114,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf50', window );">Risk Weight of 50%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25,635,506<span></span>
</td>
<td class="nump">32,434,787<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf75', window );">Risk Weight of 75%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">114,553,059<span></span>
</td>
<td class="nump">117,017,519<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf85', window );">Risk Weight of 85%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">105,938,759<span></span>
</td>
<td class="nump">144,006,730<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf100', window );">Risk Weight of 100%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">261,909,360<span></span>
</td>
<td class="nump">239,369,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf250', window );">Risk Weight of 250%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,139,531<span></span>
</td>
<td class="nump">27,655,131<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightOf300', window );">Risk Weight of 300%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,920,531<span></span>
</td>
<td class="nump">6,825,567<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRiskWeightupTo1250', window );">Risk Weight&#160;up to&#160;1,250%</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,085,264<span></span>
</td>
<td class="nump">2,555,933<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaMarketRisk', window );">Market risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8,908,205<span></span>
</td>
<td class="nump">15,767,767<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaFixedrateInReais', window );">Fixed-rate in Reais</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,696,584<span></span>
</td>
<td class="nump">10,537,134<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaForeignCurrencyCoupon', window );">Foreign Currency Coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">838,259<span></span>
</td>
<td class="nump">7,028,051<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaPriceIndexCoupon', window );">Price Index Coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,756,973<span></span>
</td>
<td class="nump">342,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaInterestRateCoupon', window );">Interest Rate Coupon</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,499<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaEquities', window );">Equities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">637,924<span></span>
</td>
<td class="nump">67,392<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaCommodities', window );">Commodities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">449,546<span></span>
</td>
<td class="nump">32,466<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange', window );">Exposure to Gold, Foreign Currencies and Exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,657,957<span></span>
</td>
<td class="nump">4,194,380<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaOperationalRisk', window );">Operational risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,605,162<span></span>
</td>
<td class="nump">50,443,507<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaCorporateFinance', window );">Corporate Finance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,369,491<span></span>
</td>
<td class="nump">1,380,459<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaTradingAndSales', window );">Trading and Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,667,449<span></span>
</td>
<td class="nump">2,866,659<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRetail', window );">Retail</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,308,681<span></span>
</td>
<td class="nump">8,349,268<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaCommercial', window );">Commercial</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">21,518,843<span></span>
</td>
<td class="nump">20,699,277<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaPaymentAndSettlement', window );">Payment and Settlement</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,132,749<span></span>
</td>
<td class="nump">10,143,694<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaFinancialAgentServices', window );">Financial Agent Services</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,628,257<span></span>
</td>
<td class="nump">3,465,556<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaAssetManagement', window );">Asset Management</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,827,848<span></span>
</td>
<td class="nump">3,392,327<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskweightedAssetsRwaRetailBrokerage', window );">Retail Brokerage</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">151,844<span></span>
</td>
<td class="nump">146,266<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets', window );">Total Risk Weighted Assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">611,442,138<span></span>
</td>
<td class="nump">656,188,517<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCapitalRequirement', window );">Total Capital Requirement</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">56,558,398<span></span>
</td>
<td class="nump">64,798,616<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BankingPortfoliosInterestRateRisk', window );">Banking Portfolio's Interest Rate Risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,527,467<span></span>
</td>
<td class="nump">4,142,339<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AddicionalCommonEquityAcps', window );">Addicional Common equity (ACPS)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">9,171,632<span></span>
</td>
<td class="nump">4,101,178<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcpConservation', window );">ACP Conservation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,643,027<span></span>
</td>
<td class="nump">4,101,178<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcpSystemic', window );">ACP Systemic</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,528,605<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">For purposes of calculation of the market risk, the capital requirement will be the lower between the internal model and 80% of the standard model, pursuant to Circular Letter No. 3.646/13 of Central Bank of Brazil; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In 2017, the value of ACP Conservation represents 1.25% of the amount of RWA. The Systemic ACP represents 0.25% of the amount of RWA (Systemic Relevance Factor determined according to Circular Letter No. 3.768 of the CBB - Total Exposure and GDP of the year before last in relation to the base date: R$ 988.5 billion and R$ 6 trillion, respectively. The contracyclical ACP represents 0% of the amount of RWA, pursuant to Communication No. 31.478 of the CBB with disclosure and effectiveness in December/17, where the RWA of the loan risk to the non-banking private sector (RWACPrNB) is R$ 496.2 billion in Brazil.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcpConservation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ACP Conservation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcpConservation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AcpSystemic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ACP Systemic</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcpSystemic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AddicionalCommonEquityAcps">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Addicional Common equity (ACPS)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AddicionalCommonEquityAcps</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BankingPortfoliosInterestRateRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Banking Portfolio's Interest Rate Risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BankingPortfoliosInterestRateRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskWeightedAssetsRWAAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-weighted assets (RWA)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskWeightedAssetsRWAAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaAssetManagement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Asset Management</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaAssetManagement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaCommercial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Commercial</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaCommercial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaCommodities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Commodities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaCommodities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaCorporateFinance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Corporate Finance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaCorporateFinance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Credit risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaEquities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Equities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaEquities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Exposure to Gold, Foreign Currencies and Exchange</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaExposureToGoldForeignCurrenciesAndExchange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaFinancialAgentServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Financial Agent Services</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaFinancialAgentServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaFixedrateInReais">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Fixed-rate in Reais</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaFixedrateInReais</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaForeignCurrencyCoupon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Foreign Currency Coupon</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaForeignCurrencyCoupon</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaInterestRateCoupon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Interest Rate Coupon</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaInterestRateCoupon</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaMarketRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Market risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaMarketRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaOperationalRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Operational risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaOperationalRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaPaymentAndSettlement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Payment and Settlement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaPaymentAndSettlement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaPriceIndexCoupon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Price Index Coupon</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaPriceIndexCoupon</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRetail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Retail</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRetail</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRetailBrokerage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Retail Brokerage</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRetailBrokerage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf0">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 0%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf0</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf100">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 100%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf100</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 2%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf20">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 20%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf20</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf250">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 250%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf250</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf300">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 300%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf300</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf35">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 35%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf35</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf50">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 50%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf50</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf75">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 75%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf75</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightOf85">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight of 85%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightOf85</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaRiskWeightupTo1250">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Risk Weight&#160;up to&#160;1,250%</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaRiskWeightupTo1250</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskweightedAssetsRwaTradingAndSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-Weighted Assets (RWA) - Trading and Sales</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskweightedAssetsRwaTradingAndSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalCapitalRequirement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total Capital Requirement</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalCapitalRequirement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in financial assets resulting from changes in models or risk parameters. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph IG20B<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_IG20B&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInModelsOrRiskParametersFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>167
<FILENAME>R128.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830570704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 33)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceAxis=bbd_InsuranceInterestRateMember', window );">Interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract', window );"><strong>Sensibility test for Life Insurance with Survival</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentageAdjustmentToEachAssumption', window );">Percentage adjustment to each assumption:</a></td>
<td class="text">Variation of -5%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestTradicionalPlansContributingPeriod', window );">Tradicional plans (contributing period)Tradicional plans (contributing period)</a></td>
<td class="num">R$ (60,733)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestPgblAndVgblContributingPeriod', window );">PGBL and VGBL (contributing period)</a></td>
<td class="num">(5,446)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestAllPlansretirementBenefitPeriod', window );">All plans(retirement benefit period)</a></td>
<td class="num">(112,782)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal', window );">Total</a></td>
<td class="num">R$ (178,961)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceAxis=bbd_InsuranceLongevityMember', window );">Longevity</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract', window );"><strong>Sensibility test for Life Insurance with Survival</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentageAdjustmentToEachAssumption', window );">Percentage adjustment to each assumption:</a></td>
<td class="text">+0.2 p.p.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestTradicionalPlansContributingPeriod', window );">Tradicional plans (contributing period)Tradicional plans (contributing period)</a></td>
<td class="num">R$ (5,057)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestPgblAndVgblContributingPeriod', window );">PGBL and VGBL (contributing period)</a></td>
<td class="num">(504)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestAllPlansretirementBenefitPeriod', window );">All plans(retirement benefit period)</a></td>
<td class="num">(35,507)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal', window );">Total</a></td>
<td class="num">R$ (41,068)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceAxis=bbd_InsuranceConversionToIncomeMember', window );">Conversion to income</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract', window );"><strong>Sensibility test for Life Insurance with Survival</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentageAdjustmentToEachAssumption', window );">Percentage adjustment to each assumption:</a></td>
<td class="text">+ 5 p.p.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestTradicionalPlansContributingPeriod', window );">Tradicional plans (contributing period)Tradicional plans (contributing period)</a></td>
<td class="num">R$ (21,691)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestPgblAndVgblContributingPeriod', window );">PGBL and VGBL (contributing period)</a></td>
<td class="num">(18,409)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal', window );">Total</a></td>
<td class="num">R$ (40,100)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentageAdjustmentToEachAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage adjustment to each assumption:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentageAdjustmentToEachAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensibilityTestAllPlansretirementBenefitPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>All plans(retirement benefit period)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensibilityTestAllPlansretirementBenefitPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensibility test for Life Insurance with Survival</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensibilityTestForLifeInsuranceWithSurvivalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sensibility test for Life Insurance with Survival - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensibilityTestForLifeInsuranceWithSurvivalTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensibilityTestPgblAndVgblContributingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>PGBL and VGBL (contributing period)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensibilityTestPgblAndVgblContributingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensibilityTestTradicionalPlansContributingPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tradicional plans (contributing period)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensibilityTestTradicionalPlansContributingPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceAxis=bbd_InsuranceInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceAxis=bbd_InsuranceLongevityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceAxis=bbd_InsuranceConversionToIncomeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>168
<FILENAME>R129.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838963120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 34) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember', window );">Gross of reinsurance | Auto</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">R$ (22,347)<span></span>
</td>
<td class="num">R$ (21,205)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember', window );">Gross of reinsurance | RE (Elementary branch)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(9,940)<span></span>
</td>
<td class="num">(10,809)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember', window );">Gross of reinsurance | Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(28,146)<span></span>
</td>
<td class="num">(28,358)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember', window );">Gross of reinsurance | Health</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(97,923)<span></span>
</td>
<td class="num">(89,907)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember', window );">Net of reinsurance | Auto</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(22,347)<span></span>
</td>
<td class="num">(21,205)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember', window );">Net of reinsurance | RE (Elementary branch)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(8,893)<span></span>
</td>
<td class="num">(9,333)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember', window );">Net of reinsurance | Life</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">(28,050)<span></span>
</td>
<td class="num">(28,277)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember', window );">Net of reinsurance | Health</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsuranceAbstract', window );"><strong>Reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets', window );">Reinsurance</a></td>
<td class="num">R$ (97,923)<span></span>
</td>
<td class="num">R$ (89,907)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReinsuranceAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reinsurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReinsuranceAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reinsurance assets. [Refer: Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReinsuranceAxis=bbd_ReinsuranceGrossOfReinsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsArisingFromInsuranceContractsAxis=bbd_ReinsuranceAutoMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsArisingFromInsuranceContractsAxis=bbd_ReinsuranceREElementaryBranchMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsArisingFromInsuranceContractsAxis=bbd_ReinsuranceLifeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsArisingFromInsuranceContractsAxis=bbd_ReinsuranceHealthMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReinsuranceAxis=bbd_ReinsuranceNetOfReinsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>169
<FILENAME>R130.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6829050256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details 35) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceAutoMember', window );">Auto</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">R$ 4,086,705<span></span>
</td>
<td class="nump">R$ 3,924,444<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceREElementaryBranchMember', window );">RE (Elementary branch)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">1,525,848<span></span>
</td>
<td class="nump">1,593,662<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceTradicionalPlansMember', window );">Tradicional plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">1,788,420<span></span>
</td>
<td class="nump">1,499,401<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Life and Pension</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">6,904,576<span></span>
</td>
<td class="nump">6,354,034<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceVGBLMember', window );">VGBL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">28,650,153<span></span>
</td>
<td class="nump">28,377,786<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsurancePGBLMember', window );">PGBL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract', window );"><strong>Net premiums written by type of insurance, net of reinsurance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PremiumsWrittenNetOfReinsurance', window );">Insurance</a></td>
<td class="nump">R$ 3,301,623<span></span>
</td>
<td class="nump">R$ 2,386,631<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net premiums written by type of insurance, net of reinsurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetPremiumsWrittenByTypeOfInsuranceNetOfReinsuranceAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PremiumsWrittenNetOfReinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of premiums written, net of amounts reinsured with third parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PremiumsWrittenNetOfReinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceAutoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceAutoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceREElementaryBranchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceREElementaryBranchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceTradicionalPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceTradicionalPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceVGBLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceVGBLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsurancePGBLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsurancePGBLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>170
<FILENAME>R131.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6877039264">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Risk Management (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th" colspan="2"><div>Dec. 31, 2017</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Maximum credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,383,965,461<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 1,390,511,535<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndBankBalancesAtCentralBanks', window );">Cash and balances with banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">81,742,951<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">72,554,651<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinancialAssets', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">599,199,362<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">497,974,002<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial assets held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">241,710,041<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">213,139,846<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">159,412,722<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">113,118,554<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">43,002,028<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalItemsNotRecordedInTheBalanceSheet', window );">Recorded in off-balance sheet accounts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">283,089,393<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">316,298,033<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherExposuresSubjectToCreditRisk', window );">Other exposures subject to credit risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">419,933,755<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,755,442<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">32,253,205<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">94,845,534<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers', window );">Loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 373,813,665<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">392,083,873<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers', window );">Portfolio of loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.70%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired', window );">Neither past due nor impaired</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 321,595,918<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 337,337,152<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureLoansAndAdvances', window );">Loans and advances, which despite being past due, do not provide indications of possible impairment - Portfolio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.90%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3.20%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImpaired', window );">Loans and advances to customers impaired</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 41,533,433<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 42,133,815<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDebtSecuritiesIssuedByCompanies', window );">Debt securities issued by companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">468,214<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">114,069<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsBondsOfTheBrazilianPublicDebt', window );">Bonds of the Brazilian public debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">116,773<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">668,115<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDerivativesOfTheBrazilianPublicDebt', window );">Derivatives of the Brazilian public debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(16,296)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalNetCreditRiskValueOfNegative', window );">Total net credit risk value of negative</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">584,987<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">765,888<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative', window );">Effect on the calculation of required shareholders' equity of negative</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49,162<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11,977<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheMarktomarketOfTheProtectionRatesThatRemuneratesTheCounterpartyThatReceivedTheRisk', window );">The mark-to-market of the protection rates that remunerates the counterparty that received the risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 195<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,067)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ValueAtRiskVar', window );">Value at Risk (VaR)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DiFuturesContractsAtB', window );">DI Futures contracts at B3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 16,030,487<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">21,502,218<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HedgeDiSecurities', window );">Hedge DI securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,708,544<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">21,476,571<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity', window );">The adjustment to the market, registered in the shareholders' equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,060<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">43,190<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquityNetOfTaxEffects', window );">The adjustment to the market, registered in the shareholders' equity, net of tax effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,036<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">25,914<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskOfDiInterestRatesByUsingDiFuturoContractsInB', window );">Risk of DI interest rates by using DI Futuro contracts in B3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,769,979<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ObjectOfHedgeAsFundsReferencedToTheDi', window );">Object of hedge as funds referenced to the DI</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,671,048<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAdjustmentToMarketRecordedInShareholdersEquity', window );">The adjustment to market, recorded in shareholders' equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(84,044)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects', window );">The adjustment to market, recorded in shareholders' equity, net of tax effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(50,426)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContracts', window );">Functional currency is other than Reais, using Forward contracts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,110,888<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso', window );">Functional currency is other than Reais, using Forward contracts, investment abroad denominated in MXN (Mexican Peso)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">582,567<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquity', window );">The mark-to-market adjustment these operations, recorded in shareholders' equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(59,739)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquityNetOfTaxEffects', window );">The mark-to-market adjustment these operations, recorded in shareholders' equity, net of tax effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(35,843)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_VarInternalModelTradingPortfolioNetOfTaxEffects', window );">VaR of Trading Portfolio net of tax effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,417<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetAssetsLiabilities', window );">Total High Quality Liquid Assets (HQLA)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 125,596,242<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashOutflowsPercent', window );">Redemptions and non-renewals retail and wholesale funding without collateral (unsecured)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">54.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets', window );">Transfers out of Level 3 of fair value hierarchy, assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,562,225)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeAssetsAndLiabilitiesTransferToInvestmentsHeldToMaturity', window );">Derivative Assets and Liabilities - Transfer to investments held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 12,419,003<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,419,003<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PortionConcerningMarketRisk', window );">Portion concerning Market Risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">80.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CapitalMargin', window );">Capital margin</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember', window );">Weighted Average Amount</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalCashInflows', window );">Cash inflows</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 42,438,620<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">42,376,396<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioAverageInTheYearMember', window );">Average in the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Value at risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">168,751<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">198,274<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioMaximumInTheYearMember', window );">Maximum in the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ValueAtRisk', window );">Value at risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 387,884<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 371,395<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember', window );">Application of deductions of prudential adjustments I</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FactorAppliedToPrudentialAdjustments', window );">Factor applied to prudential adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember', window );">Application of deductions of prudential adjustments II</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FactorAppliedToPrudentialAdjustments', window );">Factor applied to prudential adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">80.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember', window );">Prudential</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CapitalAdequacyRatioAB', window );">Capital adequacy ratio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17.10%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentTierCapital', window );">Tier I capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13.10%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PercentCommonEquity', window );">- Common equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">11.20%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MarginCapitalBuffer', window );">Margin (Capital Buffer)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">R$ 34,226,583<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 28,084,702<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MarginCapitalBufferIncreaseInLoanOperationsRetail', window );">Margin (Capital Buffer) - Increase in loan operations (Retail)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 672,758,390<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DailyHypotheticalAndEffectivePLAxis=bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember', window );">Daily hypothetical and effective P&amp;L over the last 250 business days</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ValueAtRiskVar', window );">Value at Risk (VaR)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_MaximumCreditRiskExposureIncreaseMember', window );">Maximum credit risk exposure - Increase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.50%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_CashAndBankDepositsMember', window );">Cash and bank deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_OtherFinancialAssetsMember', window );">Other financial assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">43.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_RecordedInOffbalanceSheetAccountsMember', window );">Recorded in off-balance sheet accounts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.50%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">22.60%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_OtherExposuresSubjectToCreditRiskMember', window );">Other exposures subject to credit risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30.30%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsRefersBasicallyToOverthecounterContractsMember', window );">Derivative financial instruments - Refers basically to over-the-counter contracts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99.40%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsLowCreditRiskMember', window );">Derivative financial instruments - Low credit risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersAssessedToBeNeitherPastDueNorImpairedLowRiskMember', window );">Loans and advances to customers assessed to be neither past due nor impaired - Low risk</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">96.20%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersImpairedMember', window );">Loans and advances to customers impaired</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditRiskExposure', window );">Credit risk exposure</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.10%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">10.70%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioVariationOnPricesMember', window );">Variation on prices</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioVariationOnPricesMember', window );">Variation on prices | Scenario 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioVariationOnPricesMember', window );">Variation on prices | Scenario 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioForA1YearFixedInterestRateMember', window );">For a 1-year fixed interest rate | Scenario 1</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.90%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioForA1YearFixedInterestRateMember', window );">For a 1-year fixed interest rate | Scenario 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.90%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioForA1YearFixedInterestRateMember', window );">For a 1-year fixed interest rate | Scenario 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.90%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasAppliedMember', window );">Scenario was applied | Scenario 1</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.91%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasAppliedMember', window );">Scenario was applied | Scenario 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8.62%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasAppliedMember', window );">Scenario was applied | Scenario 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10.35%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioExchangeRateMember', window );">Exchange rate | Scenario 1</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.14<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioExchangeRateMember', window );">Exchange rate | Scenario 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.14<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioExchangeRateMember', window );">Exchange rate | Scenario 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.14<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasUsedMember', window );">Scenario was used | Scenario 1</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.17<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasUsedMember', window );">Scenario was used | Scenario 2</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.93<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasUsedMember', window );">Scenario was used | Scenario 3</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RiskManagementDetailsTextAbstract', window );"><strong>Risk Management (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average foreign exchange rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.72<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="7"></td></tr>
<tr><td colspan="7"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Calculated based on the simple daily average of the months that compose the quarter (61 observations);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Corresponds to the value after application of the weighting factors; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Calculated based on the simple average of the closing of the months that compose the quarter (3 observations);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Margin = Minimum (PR &amp;#8211; PRE; PR Level I - RWA * 6%; PR Principal - RWA * 4.5%) - Additional Principal Capital.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CapitalAdequacyRatioAB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital adequacy ratio (a / b)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CapitalAdequacyRatioAB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CapitalMargin">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Capital margin</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CapitalMargin</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashOutflowsPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Related to the cash outflows, based on the regulatory stress scenario (item 16), about 54.0% are redemptions and non-renewals retail and wholesale funding without collateral (unsecured), as shown in item 2 and 5 of the table</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashOutflowsPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit risk exposure</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit risk exposure - Loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit risk exposure - The portfolio of loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureThePortfolioOfLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeAssetsAndLiabilitiesTransferToInvestmentsHeldToMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative Assets and Liabilities - Transfer to investments held to maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeAssetsAndLiabilitiesTransferToInvestmentsHeldToMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DiFuturesContractsAtB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>DI Futures contracts at B3</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DiFuturesContractsAtB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effect on the calculation of required shareholders' equity of negative</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EffectOnTheCalculationOfRequiredShareholdersEquityOfNegative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FactorAppliedToPrudentialAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Factor applied to prudential adjustments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FactorAppliedToPrudentialAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Functional currency is other than Reais, using Forward contracts</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Functional currency is other than Reais, using Forward contracts, investment abroad denominated in MXN (Mexican Peso)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FunctionalCurrencyIsOtherThanReaisUsingForwardContractsInvestmentAbroadDenominatedInMxnMexicanPeso</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HedgeDiSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Hedge DI securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HedgeDiSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Neither past due nor impaired</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersNeitherPastDueNorImpaired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MarginCapitalBuffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Margin (Capital Buffer)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MarginCapitalBuffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MarginCapitalBufferIncreaseInLoanOperationsRetail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Margin (Capital Buffer) - Increase in loan operations (Retail)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MarginCapitalBufferIncreaseInLoanOperationsRetail</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ObjectOfHedgeAsFundsReferencedToTheDi">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Object of hedge as funds referenced to the DI</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ObjectOfHedgeAsFundsReferencedToTheDi</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherExposuresSubjectToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other exposures subject to credit risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherExposuresSubjectToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentCommonEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentCommonEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PercentTierCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tier I capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PercentTierCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PortionConcerningMarketRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Portion concerning Market Risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PortionConcerningMarketRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskManagementDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk Management (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskManagementDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskOfDiInterestRatesByUsingDiFuturoContractsInB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk of DI interest rates by using DI Futuro contracts in B3</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskOfDiInterestRatesByUsingDiFuturoContractsInB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsBondsOfTheBrazilianPublicDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk received in credit swaps whose underlying assets - Bonds of the Brazilian public debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsBondsOfTheBrazilianPublicDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDebtSecuritiesIssuedByCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk received in credit swaps whose underlying assets - Debt securities issued by companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDebtSecuritiesIssuedByCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDerivativesOfTheBrazilianPublicDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk received in credit swaps whose underlying assets - Derivatives of the Brazilian public debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RiskReceivedInCreditSwapsWhoseUnderlyingAssetsDerivativesOfTheBrazilianPublicDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAdjustmentToMarketRecordedInShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment to market, recorded in shareholders' equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAdjustmentToMarketRecordedInShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment to market, recorded in shareholders' equity, net of tax effects</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAdjustmentToMarketRecordedInShareholdersEquityNetOfTaxEffects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment to the market, registered in the shareholders' equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquityNetOfTaxEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment to the market, registered in the shareholders' equity, net of tax effects</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheAdjustmentToTheMarketRegisteredInTheShareholdersEquityNetOfTaxEffects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The mark-to-market adjustment these operations, recorded in shareholders' equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquityNetOfTaxEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The mark-to-market adjustment these operations, recorded in shareholders' equity, net of tax effects</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheMarktomarketAdjustmentTheseOperationsRecordedInShareholdersEquityNetOfTaxEffects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheMarktomarketOfTheProtectionRatesThatRemuneratesTheCounterpartyThatReceivedTheRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The mark-to-market of the protection rates that remunerates the counterparty that received the risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheMarktomarketOfTheProtectionRatesThatRemuneratesTheCounterpartyThatReceivedTheRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalCashInflows">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total cash inflows</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalCashInflows</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalItemsNotRecordedInTheBalanceSheet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total items not recorded in the balance sheet</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalItemsNotRecordedInTheBalanceSheet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalNetCreditRiskValueOfNegative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total net credit risk value of negative</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalNetCreditRiskValueOfNegative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ValueAtRiskVar">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value at Risk (VaR)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ValueAtRiskVar</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_VarInternalModelTradingPortfolioNetOfTaxEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The 1-day VaR of Trading Portfolio net of tax effects. With the prefixed risk as the largest participation of the portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_VarInternalModelTradingPortfolioNetOfTaxEffects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and bank balances held at central banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss classified as held for trading. A financial asset is classified as held for trading if: (a) it is acquired principally for the purpose of selling it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaximumExposureToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that best represents the maximum exposure to credit risk without taking into account any collateral held or other credit enhancements (for example, netting agreements that do not qualify for offset in accordance with IAS 32). [Refer: Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35K<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35K_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_36_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaximumExposureToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetAssetsLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets less the amount of liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph IG63<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_IG63&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetAssetsLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers of assets out of Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersOutOfLevel3OfFairValueHierarchyAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ValueAtRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The measure of a potential loss exposure as a result of future market movements, based on a specified confidence interval and measurement horizon.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 41<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_41&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ValueAtRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InformatioOnTheLiquidityCoverageRatioLcrAxis=bbd_WeightedAverageAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioAverageInTheYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioAverageInTheYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioMaximumInTheYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StressAnalysisTradingPortfolioAxis=bbd_StressAnalysisTradingPortfolioMaximumInTheYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsAxis=bbd_ApplicationOfDeductionsOfPrudentialAdjustmentsIIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OrganizationsCapitalPrudentialAxis=bbd_OrganizationsCapitalPrudentialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DailyHypotheticalAndEffectivePLAxis=bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DailyHypotheticalAndEffectivePLAxis=bbd_DailyHypotheticalAndEffectivePLOverTheLast250BusinessDaysMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_MaximumCreditRiskExposureIncreaseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_MaximumCreditRiskExposureIncreaseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_CashAndBankDepositsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_CashAndBankDepositsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_OtherFinancialAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_OtherFinancialAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_RecordedInOffbalanceSheetAccountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_RecordedInOffbalanceSheetAccountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_OtherExposuresSubjectToCreditRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_OtherExposuresSubjectToCreditRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsRefersBasicallyToOverthecounterContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsRefersBasicallyToOverthecounterContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsLowCreditRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_DerivativeFinancialInstrumentsLowCreditRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersAssessedToBeNeitherPastDueNorImpairedLowRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersAssessedToBeNeitherPastDueNorImpairedLowRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersImpairedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditRiskExposureAxis=bbd_LoansAndAdvancesToCustomersImpairedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ScenarioAxis=bbd_ScenarioVariationOnPricesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ScenarioAxis=bbd_ScenarioVariationOnPricesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenario2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenario2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenario3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenario3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ScenarioAxis=bbd_ScenarioForA1YearFixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ScenarioAxis=bbd_ScenarioForA1YearFixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenarioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisScenarioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasAppliedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ScenarioAxis=bbd_ScenarioScenarioWasAppliedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ScenarioAxis=bbd_ScenarioExchangeRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ScenarioAxis=bbd_ScenarioExchangeRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ScenarioAxis=bbd_ScenarioScenarioWasUsedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ScenarioAxis=bbd_ScenarioScenarioWasUsedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>171
<FILENAME>R132.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861714528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Estimates and judgments (Details Text)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EstimatesAndJudgmentsDetailsTextAbstract', window );"><strong>Estimates And Judgments Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProbabilityOfDefaultPd', window );">Probability of default (PD)</a></td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment', window );">Increased the allowance for impairment</a></td>
<td class="nump">R$ 503,667<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EstimatesAndJudgmentsDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Estimates and judgments (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EstimatesAndJudgmentsDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProbabilityOfDefaultPd">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Probability of default (PD)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProbabilityOfDefaultPd</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Probability of default (PD) - Increased the allowance for impairment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProbabilityOfDefaultPdIncreasedTheAllowanceForImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>172
<FILENAME>R133.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838646352">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Operating segments (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformationByOperatingSegmentAbstract', window );"><strong>Information by operating segment</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 50,642,913<span></span>
</td>
<td class="nump">R$ 56,662,989<span></span>
</td>
<td class="nump">R$ 55,636,042<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">22,748,828<span></span>
</td>
<td class="nump">20,341,051<span></span>
</td>
<td class="nump">17,820,670<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,623,108<span></span>
</td>
<td class="nump">16,402,770<span></span>
</td>
<td class="num">(8,252,055)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">570,358<span></span>
</td>
<td class="num">(1,341,400)<span></span>
</td>
<td class="num">(671,810)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments', window );">Net gain / (loss) on held-to-maturity investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(54,520)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnForeignCurrencyTransactions', window );">Net gains/(losses) on foreign currency transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,422,957<span></span>
</td>
<td class="nump">150,757<span></span>
</td>
<td class="num">(3,523,095)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlans', window );">Net income from insurance and pension plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,239,990<span></span>
</td>
<td class="nump">4,155,763<span></span>
</td>
<td class="nump">5,497,505<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income/(loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,801,893<span></span>
</td>
<td class="nump">19,367,890<span></span>
</td>
<td class="num">(6,949,455)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesNote', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16,860,835)<span></span>
</td>
<td class="num">(15,350,278)<span></span>
</td>
<td class="num">(14,721,152)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(20,723,265)<span></span>
</td>
<td class="num">(17,003,783)<span></span>
</td>
<td class="num">(14,058,047)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Other administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16,882,461)<span></span>
</td>
<td class="num">(16,149,563)<span></span>
</td>
<td class="num">(13,721,970)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,568,568)<span></span>
</td>
<td class="num">(3,658,413)<span></span>
</td>
<td class="num">(2,942,003)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10,133,357)<span></span>
</td>
<td class="num">(14,004,162)<span></span>
</td>
<td class="num">(12,988,553)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(69,168,486)<span></span>
</td>
<td class="num">(66,166,199)<span></span>
</td>
<td class="num">(58,431,725)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax', window );">Income before income taxes and share of profit of associates and joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">22,025,148<span></span>
</td>
<td class="nump">30,205,731<span></span>
</td>
<td class="nump">8,075,532<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,718,411<span></span>
</td>
<td class="nump">1,699,725<span></span>
</td>
<td class="nump">1,528,051<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">23,743,559<span></span>
</td>
<td class="nump">31,905,456<span></span>
</td>
<td class="nump">9,603,583<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,428,956)<span></span>
</td>
<td class="num">(13,912,730)<span></span>
</td>
<td class="nump">8,634,322<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,314,603<span></span>
</td>
<td class="nump">17,992,726<span></span>
</td>
<td class="nump">18,237,905<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Attributable to controlling shareholders</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,089,364<span></span>
</td>
<td class="nump">17,894,249<span></span>
</td>
<td class="nump">18,132,906<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Attributable to non-controlling interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">225,239<span></span>
</td>
<td class="nump">98,477<span></span>
</td>
<td class="nump">104,999<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,224,353,440<span></span>
</td>
<td class="nump">1,192,029,656<span></span>
</td>
<td class="nump">1,026,703,522<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,257,384<span></span>
</td>
<td class="nump">7,002,778<span></span>
</td>
<td class="nump">5,815,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,106,659,736<span></span>
</td>
<td class="nump">1,086,550,449<span></span>
</td>
<td class="nump">935,788,760<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=bbd_OperatingSegmentBankingMember', window );">Banking</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformationByOperatingSegmentAbstract', window );"><strong>Information by operating segment</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46,997,327<span></span>
</td>
<td class="nump">49,156,109<span></span>
</td>
<td class="nump">46,934,849<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,143,561<span></span>
</td>
<td class="nump">20,696,785<span></span>
</td>
<td class="nump">19,195,003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,011,351<span></span>
</td>
<td class="nump">14,918,934<span></span>
</td>
<td class="num">(7,199,397)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(685,560)<span></span>
</td>
<td class="num">(1,417,647)<span></span>
</td>
<td class="num">(370,947)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments', window );">Net gain / (loss) on held-to-maturity investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(54,520)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnForeignCurrencyTransactions', window );">Net gains/(losses) on foreign currency transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,422,957<span></span>
</td>
<td class="nump">150,757<span></span>
</td>
<td class="num">(3,523,095)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income/(loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,694,228<span></span>
</td>
<td class="nump">13,652,044<span></span>
</td>
<td class="num">(11,093,439)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesNote', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(17,895,929)<span></span>
</td>
<td class="num">(18,829,460)<span></span>
</td>
<td class="num">(16,479,985)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(19,261,590)<span></span>
</td>
<td class="num">(15,733,611)<span></span>
</td>
<td class="num">(13,103,515)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Other administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(17,175,352)<span></span>
</td>
<td class="num">(14,979,689)<span></span>
</td>
<td class="num">(13,076,913)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,555,033)<span></span>
</td>
<td class="num">(3,786,599)<span></span>
</td>
<td class="num">(2,752,946)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,282,411)<span></span>
</td>
<td class="num">(14,421,152)<span></span>
</td>
<td class="num">(11,726,387)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(69,170,315)<span></span>
</td>
<td class="num">(67,750,511)<span></span>
</td>
<td class="num">(57,139,746)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax', window );">Income before income taxes and share of profit of associates and joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,664,801<span></span>
</td>
<td class="nump">15,754,427<span></span>
</td>
<td class="num">(2,103,333)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,497,268<span></span>
</td>
<td class="nump">1,538,058<span></span>
</td>
<td class="nump">1,358,047<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,162,069<span></span>
</td>
<td class="nump">17,292,485<span></span>
</td>
<td class="num">(745,286)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(887,289)<span></span>
</td>
<td class="num">(7,995,420)<span></span>
</td>
<td class="nump">12,621,169<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,274,780<span></span>
</td>
<td class="nump">9,297,065<span></span>
</td>
<td class="nump">11,875,883<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Attributable to controlling shareholders</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,272,962<span></span>
</td>
<td class="nump">9,293,766<span></span>
</td>
<td class="nump">11,874,609<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Attributable to non-controlling interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,818<span></span>
</td>
<td class="nump">3,299<span></span>
</td>
<td class="nump">1,274<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">988,063,541<span></span>
</td>
<td class="nump">921,916,290<span></span>
</td>
<td class="nump">894,579,942<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,364,246<span></span>
</td>
<td class="nump">5,512,372<span></span>
</td>
<td class="nump">4,479,642<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">875,887,257<span></span>
</td>
<td class="nump">821,182,152<span></span>
</td>
<td class="nump">804,576,173<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=bbd_OperatingSegmentInsurancePensionAndCapitalizationBondsMember', window );">Insurance, pension and capitalization bonds</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformationByOperatingSegmentAbstract', window );"><strong>Information by operating segment</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,857,926<span></span>
</td>
<td class="nump">5,374,229<span></span>
</td>
<td class="nump">5,973,694<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">787,014<span></span>
</td>
<td class="nump">651,482<span></span>
</td>
<td class="nump">1,497,890<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,641,626<span></span>
</td>
<td class="nump">1,250,639<span></span>
</td>
<td class="num">(627,343)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">713,425<span></span>
</td>
<td class="nump">805,051<span></span>
</td>
<td class="num">(353,679)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlans', window );">Net income from insurance and pension plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,239,990<span></span>
</td>
<td class="nump">4,155,763<span></span>
</td>
<td class="nump">5,496,147<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income/(loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,595,041<span></span>
</td>
<td class="nump">6,211,453<span></span>
</td>
<td class="nump">4,515,125<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,589,077)<span></span>
</td>
<td class="num">(1,387,935)<span></span>
</td>
<td class="num">(1,217,211)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Other administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,391,439)<span></span>
</td>
<td class="num">(1,331,349)<span></span>
</td>
<td class="num">(1,137,706)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(393,618)<span></span>
</td>
<td class="num">(365,656)<span></span>
</td>
<td class="num">(321,462)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(889,065)<span></span>
</td>
<td class="nump">243,631<span></span>
</td>
<td class="num">(963,525)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,263,199)<span></span>
</td>
<td class="num">(2,841,309)<span></span>
</td>
<td class="num">(3,639,904)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax', window );">Income before income taxes and share of profit of associates and joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,976,782<span></span>
</td>
<td class="nump">9,395,855<span></span>
</td>
<td class="nump">8,346,805<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">217,035<span></span>
</td>
<td class="nump">168,691<span></span>
</td>
<td class="nump">166,865<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,193,817<span></span>
</td>
<td class="nump">9,564,546<span></span>
</td>
<td class="nump">8,513,670<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,156,153)<span></span>
</td>
<td class="num">(3,915,822)<span></span>
</td>
<td class="num">(3,192,918)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,037,664<span></span>
</td>
<td class="nump">5,648,724<span></span>
</td>
<td class="nump">5,320,752<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Attributable to controlling shareholders</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,812,425<span></span>
</td>
<td class="nump">5,550,662<span></span>
</td>
<td class="nump">5,215,765<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Attributable to non-controlling interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">225,239<span></span>
</td>
<td class="nump">98,062<span></span>
</td>
<td class="nump">104,987<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">295,699,951<span></span>
</td>
<td class="nump">266,642,197<span></span>
</td>
<td class="nump">209,789,872<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,847,099<span></span>
</td>
<td class="nump">1,416,617<span></span>
</td>
<td class="nump">1,255,326<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">257,329,282<span></span>
</td>
<td class="nump">266,143,979<span></span>
</td>
<td class="nump">188,809,573<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=bbd_OperatingSegmentOtherOperationsAdjustmentsAndEliminationsMember', window );">Other operations, adjustments and eliminations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InformationByOperatingSegmentAbstract', window );"><strong>Information by operating segment</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,787,660<span></span>
</td>
<td class="nump">2,132,651<span></span>
</td>
<td class="nump">2,727,499<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,181,747)<span></span>
</td>
<td class="num">(1,007,216)<span></span>
</td>
<td class="num">(2,872,223)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Net gains/(losses) on financial instruments classified as held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(29,869)<span></span>
</td>
<td class="nump">233,197<span></span>
</td>
<td class="num">(425,315)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets', window );">Net gains/(losses) on financial instruments classified as available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">542,493<span></span>
</td>
<td class="num">(728,804)<span></span>
</td>
<td class="nump">52,816<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlans', window );">Net income from insurance and pension plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,358<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncome', window );">Other operating income/(loss)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">512,624<span></span>
</td>
<td class="num">(495,607)<span></span>
</td>
<td class="num">(371,141)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesNote', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,035,094<span></span>
</td>
<td class="nump">3,479,182<span></span>
</td>
<td class="nump">1,758,833<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Personnel expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">127,402<span></span>
</td>
<td class="nump">117,763<span></span>
</td>
<td class="nump">262,679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Other administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,684,330<span></span>
</td>
<td class="nump">161,475<span></span>
</td>
<td class="nump">492,649<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Depreciation and amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,380,083<span></span>
</td>
<td class="nump">493,842<span></span>
</td>
<td class="nump">132,405<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">38,119<span></span>
</td>
<td class="nump">173,359<span></span>
</td>
<td class="num">(298,641)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherExpenseByFunction', window );">Other operating expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,265,028<span></span>
</td>
<td class="nump">4,425,621<span></span>
</td>
<td class="nump">2,347,925<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax', window );">Income before income taxes and share of profit of associates and joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,383,565<span></span>
</td>
<td class="nump">5,055,449<span></span>
</td>
<td class="nump">1,832,060<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,108<span></span>
</td>
<td class="num">(7,024)<span></span>
</td>
<td class="nump">3,139<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4,387,673<span></span>
</td>
<td class="nump">5,048,425<span></span>
</td>
<td class="nump">1,835,199<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,385,514)<span></span>
</td>
<td class="num">(2,001,488)<span></span>
</td>
<td class="num">(793,929)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,002,159<span></span>
</td>
<td class="nump">3,046,937<span></span>
</td>
<td class="nump">1,041,270<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Attributable to controlling shareholders</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,003,977<span></span>
</td>
<td class="nump">3,049,821<span></span>
</td>
<td class="nump">1,042,532<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Attributable to non-controlling interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,818)<span></span>
</td>
<td class="num">(2,884)<span></span>
</td>
<td class="num">(1,262)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(59,410,052)<span></span>
</td>
<td class="nump">3,471,169<span></span>
</td>
<td class="num">(77,666,292)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">46,039<span></span>
</td>
<td class="nump">73,789<span></span>
</td>
<td class="nump">80,357<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">R$ (26,556,803)<span></span>
</td>
<td class="num">R$ (775,682)<span></span>
</td>
<td class="num">R$ (57,596,986)<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Other operation represents less than 1% of total assets/liabilities and the net income for the year. The main adjustments from the information disclosed in segments columns are related to the difference between the IFRS and the Segment Report Information as impairment for loans and advance and effective interest rate.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvancesNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances (Note 12).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvancesNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InformationByOperatingSegmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Information by operating segment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InformationByOperatingSegmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnForeignCurrencyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on foreign currency transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnForeignCurrencyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on available-for-sale financial assets. [Refer: Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_ii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss classified as held for trading. [Refer: Financial assets at fair value through profit or loss, classified as held for trading; Gains (losses) on financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_i&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherExpenseByFunction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity does not separately disclose in the same statement or note when the entity uses the 'function of expense' form for its analysis of expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherExpenseByFunction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense from subsidiaries, jointly controlled entities and associates that the entity does not separately disclose in the same statement or note. [Refer: Associates [member]; Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
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<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the other comprehensive income of associates and joint ventures accounted for using the equity method, before tax. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39M<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39M_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodBeforeTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=bbd_OperatingSegmentInsurancePensionAndCapitalizationBondsMember</td>
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<tr>
<td><strong> Name:</strong></td>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Operating segments (Details Text)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income from transactions with a single customer or counterparty abroad</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OperatingSegmentsDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Operating segments (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OperatingSegmentsDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherOperation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operation represents less than 1% of total assets/liabilities and the net income for the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>174
<FILENAME>R135.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841704688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net interest income (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarIncomeAbstract', window );"><strong>Interest And Similar Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="nump">R$ 5,073,435<span></span>
</td>
<td class="nump">R$ 8,689,348<span></span>
</td>
<td class="nump">R$ 8,349,194<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract', window );"><strong>Loans and advances to customers:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations', window );">- Loans</a></td>
<td class="nump">64,767,081<span></span>
</td>
<td class="nump">69,530,396<span></span>
</td>
<td class="nump">62,472,012<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions', window );">- Leasing transactions</a></td>
<td class="nump">254,009<span></span>
</td>
<td class="nump">343,626<span></span>
</td>
<td class="nump">444,502<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarIncomeFinancialAssetsAbstract', window );"><strong>Financial assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading', window );">- For trading</a></td>
<td class="nump">13,684,574<span></span>
</td>
<td class="nump">23,576,526<span></span>
</td>
<td class="nump">13,982,927<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets', window );">- Available for sale</a></td>
<td class="nump">11,351,320<span></span>
</td>
<td class="nump">11,572,618<span></span>
</td>
<td class="nump">11,629,493<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnHeldtomaturityInvestments', window );">- Held to maturity</a></td>
<td class="nump">4,883,103<span></span>
</td>
<td class="nump">6,514,933<span></span>
</td>
<td class="nump">5,253,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed', window );">Pledged as collateral</a></td>
<td class="nump">21,268,934<span></span>
</td>
<td class="nump">21,739,202<span></span>
</td>
<td class="nump">20,270,191<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks', window );">Compulsory deposits with the Central Bank</a></td>
<td class="nump">4,881,319<span></span>
</td>
<td class="nump">5,667,516<span></span>
</td>
<td class="nump">4,587,412<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnOtherFinancialAssets', window );">Other financial interest income</a></td>
<td class="nump">68,553<span></span>
</td>
<td class="nump">66,210<span></span>
</td>
<td class="nump">58,905<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Total</a></td>
<td class="nump">126,232,328<span></span>
</td>
<td class="nump">147,700,375<span></span>
</td>
<td class="nump">127,048,252<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract', window );"><strong>Deposits from banks:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnDepositsFromBanks', window );">- Interbank deposits</a></td>
<td class="num">(152,550)<span></span>
</td>
<td class="num">(127,617)<span></span>
</td>
<td class="num">(74,814)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket', window );">- Funding in the open market</a></td>
<td class="num">(22,564,515)<span></span>
</td>
<td class="num">(26,767,039)<span></span>
</td>
<td class="num">(23,509,785)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnBorrowings', window );">- Borrowings and onlending</a></td>
<td class="num">(3,068,552)<span></span>
</td>
<td class="num">(3,865,411)<span></span>
</td>
<td class="num">(3,092,184)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract', window );"><strong>Deposits from customers:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts', window );">- Savings accounts</a></td>
<td class="num">(5,730,457)<span></span>
</td>
<td class="num">(6,712,509)<span></span>
</td>
<td class="num">(6,450,258)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits', window );">- Time deposits</a></td>
<td class="num">(7,536,161)<span></span>
</td>
<td class="num">(8,746,203)<span></span>
</td>
<td class="num">(5,942,386)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnBonds', window );">Funds from issuance of securities</a></td>
<td class="num">(13,262,613)<span></span>
</td>
<td class="num">(17,124,502)<span></span>
</td>
<td class="num">(11,570,606)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnDebtInstrumentsIssued', window );">Subordinated debt</a></td>
<td class="num">(5,100,017)<span></span>
</td>
<td class="num">(6,298,555)<span></span>
</td>
<td class="num">(4,669,830)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Insurance technical provisions and pension plans</a></td>
<td class="num">(18,174,550)<span></span>
</td>
<td class="num">(21,395,550)<span></span>
</td>
<td class="num">(16,102,347)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Total</a></td>
<td class="num">(75,589,415)<span></span>
</td>
<td class="num">(91,037,386)<span></span>
</td>
<td class="num">(71,412,210)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestRevenueExpense', window );">Net interest income</a></td>
<td class="nump">R$ 50,642,913<span></span>
</td>
<td class="nump">R$ 56,662,989<span></span>
</td>
<td class="nump">R$ 55,636,042<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar expenses - Deposits from banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarExpensesDepositsFromBanksAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar expenses - Deposits from banks - Funding in the open market</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarExpensesDepositsFromBanksFundingInTheOpenMarket</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar expenses - Deposits from customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarExpensesDepositsFromCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar expenses - Deposits from customers - Savings accounts</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarExpensesDepositsFromCustomersSavingsAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar expenses - Deposits from customers - Time deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarExpensesDepositsFromCustomersTimeDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarIncomeFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar income - Financial assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarIncomeFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar income - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar income - Loans and advances to customers - Leasing transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLeasingTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and similar income - Loans and advances to customers - Loan operations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestAndSimilarIncomeLoansAndAdvancesToCustomersLoanOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on bonds issued. [Refer: Interest expense; Bonds issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on borrowings. [Refer: Interest expense; Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnDebtInstrumentsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on debt instruments issued. [Refer: Interest expense; Debt instruments issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnDebtInstrumentsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnDepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on deposits from banks. [Refer: Interest expense; Deposits from banks]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnDepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on available-for-sale financial assets. [Refer: Interest income; Financial assets available-for-sale]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnAvailableforsaleFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on cash and bank balances at central banks. [Refer: Interest income; Cash and bank balances at central banks]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnCashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on financial assets held for trading. [Refer: Interest income; Financial assets at fair value through profit or loss, classified as held for trading]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on held-to-maturity investments. [Refer: Interest income; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on loans and advances to banks. [Refer: Interest income; Loans and advances to banks]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnLoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnOtherFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on other financial assets. [Refer: Interest income; Other financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnOtherFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on reverse repurchase agreements and cash collateral on securities borrowed. [Refer: Interest income; Reverse repurchase agreements and cash collateral on securities borrowed]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnReverseRepurchaseAgreementsAndCashCollateralOnSecuritiesBorrowed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestRevenueExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense arising from interest. [Refer: Interest expense; Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestRevenueExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>175
<FILENAME>R136.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6829050256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net fee and commission income (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeAbstract', window );"><strong>Net fee and commission income (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CreditrelatedFeeAndCommissionIncome', window );">Credit cards</a></td>
<td class="nump">R$ 6,848,855<span></span>
</td>
<td class="nump">R$ 6,251,963<span></span>
</td>
<td class="nump">R$ 5,875,029<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeCurrentAccounts', window );">Current accounts</a></td>
<td class="nump">6,652,711<span></span>
</td>
<td class="nump">6,030,640<span></span>
</td>
<td class="nump">4,941,947<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeCollections', window );">Collections</a></td>
<td class="nump">1,965,601<span></span>
</td>
<td class="nump">1,777,515<span></span>
</td>
<td class="nump">1,573,818<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeGuarantees', window );">Guarantees</a></td>
<td class="nump">1,570,522<span></span>
</td>
<td class="nump">1,438,409<span></span>
</td>
<td class="nump">1,265,356<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PortfolioAndOtherManagementFeeIncome', window );">Asset management</a></td>
<td class="nump">1,463,469<span></span>
</td>
<td class="nump">1,079,653<span></span>
</td>
<td class="nump">1,054,424<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeConsortiumManagement', window );">Consortium management</a></td>
<td class="nump">1,526,660<span></span>
</td>
<td class="nump">1,278,753<span></span>
</td>
<td class="nump">1,040,109<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BrokerageFeeIncome', window );">Custody and brokerage services</a></td>
<td class="nump">754,966<span></span>
</td>
<td class="nump">618,750<span></span>
</td>
<td class="nump">556,701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeUnderwriting', window );">Underwriting</a></td>
<td class="nump">801,219<span></span>
</td>
<td class="nump">733,530<span></span>
</td>
<td class="nump">540,879<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FeeAndCommissionIncomeCollectionOfTaxesUtilityBillsAndSimilar', window );">Payments</a></td>
<td class="nump">409,267<span></span>
</td>
<td class="nump">373,639<span></span>
</td>
<td class="nump">382,427<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFeeAndCommissionIncome', window );">Other</a></td>
<td class="nump">755,558<span></span>
</td>
<td class="nump">758,235<span></span>
</td>
<td class="nump">626,183<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncome', window );">Total</a></td>
<td class="nump">22,748,828<span></span>
</td>
<td class="nump">20,341,087<span></span>
</td>
<td class="nump">17,856,873<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionExpenseAbstract', window );"><strong>Fee and commission expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFeeAndCommissionExpense', window );">Financial system services</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="num">(36,203)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionExpense', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(36)<span></span>
</td>
<td class="num">(36,203)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FeeAndCommissionIncomeExpense', window );">Net fee and commission income</a></td>
<td class="nump">R$ 22,748,828<span></span>
</td>
<td class="nump">R$ 20,341,051<span></span>
</td>
<td class="nump">R$ 17,820,670<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeCollectionOfTaxesUtilityBillsAndSimilar">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Collection of taxes, utility bills and similar</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeCollectionOfTaxesUtilityBillsAndSimilar</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeCollections">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Collections</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeCollections</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeConsortiumManagement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Consortium management</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeConsortiumManagement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeCurrentAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Current accounts</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeCurrentAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeGuarantees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Guarantees</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeGuarantees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FeeAndCommissionIncomeUnderwriting">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fee and commission income - Underwriting</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FeeAndCommissionIncomeUnderwriting</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BrokerageFeeIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised for brokerage fees charged by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BrokerageFeeIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditrelatedFeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised from credit-related fees and commissions. [Refer: Fee and commission income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditrelatedFeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FeeAndCommissionIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense relating to fees and commissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FeeAndCommissionIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFeeAndCommissionExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fee and commission expense that the entity does not separately disclose in the same statement or note. [Refer: Fee and commission expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFeeAndCommissionExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFeeAndCommissionIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fee and commission income that the entity does not separately disclose in the same statement or note. [Refer: Fee and commission income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFeeAndCommissionIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PortfolioAndOtherManagementFeeIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised from portfolio and other management fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861686272">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as held for trading (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as held for trading [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingFixedIncomeSecurities', window );">Fixed income securities</a></td>
<td class="nump">R$ 9,862,617<span></span>
</td>
<td class="nump">R$ 4,654,959<span></span>
</td>
<td class="num">R$ (5,174,739)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingDerivativeFinancialInstruments', window );">Derivative financial instruments</a></td>
<td class="num">(1,426,160)<span></span>
</td>
<td class="nump">10,887,800<span></span>
</td>
<td class="num">(4,267,748)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingEquitiesAndInvestmentFunds', window );">Equity securities</a></td>
<td class="nump">1,186,651<span></span>
</td>
<td class="nump">860,011<span></span>
</td>
<td class="nump">1,190,432<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Total</a></td>
<td class="nump">R$ 9,623,108<span></span>
</td>
<td class="nump">R$ 16,402,770<span></span>
</td>
<td class="num">R$ (8,252,055)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading - Derivative financial instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingDerivativeFinancialInstruments</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading - Equities and investment funds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingEquitiesAndInvestmentFunds</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as held for trading - Fixed income securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsHeldForTradingFixedIncomeSecurities</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss classified as held for trading. [Refer: Financial assets at fair value through profit or loss, classified as held for trading; Gains (losses) on financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_i&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
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<TYPE>XML
<SEQUENCE>177
<FILENAME>R138.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6700400464">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as available for sale (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleAbstract', window );"><strong>Net gains/(losses) on financial instruments classified as available for sale [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleFixedIncomeSecurities', window );">Fixed income securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 49,963<span></span>
</td>
<td class="num">R$ (1,918,595)<span></span>
</td>
<td class="num">R$ (346,032)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleEquities', window );">Equity securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">437,054<span></span>
</td>
<td class="nump">459,223<span></span>
</td>
<td class="num">(577,401)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleDividendsReceived', window );">Dividends received</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">83,341<span></span>
</td>
<td class="nump">117,972<span></span>
</td>
<td class="nump">251,623<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleNote', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 570,358<span></span>
</td>
<td class="num">R$ (1,341,400)<span></span>
</td>
<td class="num">R$ (671,810)<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes impairment losses of R$ 1,729,039 thousand (2016 - R$ 2,106,107 thousand and 2015 - R$ 424,552 thousand).</td>
</tr></table></td></tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale - Dividends received</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale - Equities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale - Fixed income securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleFixedIncomeSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>178
<FILENAME>R139.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830610768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net gains/(losses) on financial instruments classified as available for sale (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleDetailsTextAbstract', window );"><strong>Net Gainslosses On Financial Instruments Classified As Available For Sale Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses', window );">Impairment losses</a></td>
<td class="nump">R$ 1,729,039<span></span>
</td>
<td class="nump">R$ 2,106,107<span></span>
</td>
<td class="nump">R$ 424,522<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale. - impairment losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>179
<FILENAME>R140.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830580784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Net income from insurance and pension plans (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansAbstract', window );"><strong>Net income from insurance and pension plans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsWritten', window );">Written premiums</a></td>
<td class="nump">R$ 65,864,591<span></span>
</td>
<td class="nump">R$ 62,470,571<span></span>
</td>
<td class="nump">R$ 55,920,681<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansSupplementalPensionPlanContributions', window );">Supplemental pension plan contributions</a></td>
<td class="nump">5,090,043<span></span>
</td>
<td class="nump">3,679,922<span></span>
</td>
<td class="nump">3,795,219<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansCoinsurancePremiumsCeded', window );">Granted coinsurance premiums</a></td>
<td class="num">(49,715)<span></span>
</td>
<td class="num">(70,862)<span></span>
</td>
<td class="num">(88,612)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsReturned', window );">Refunded premiums</a></td>
<td class="num">(667,196)<span></span>
</td>
<td class="num">(746,244)<span></span>
</td>
<td class="num">(522,309)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Net written premiums earned</a></td>
<td class="nump">70,237,723<span></span>
</td>
<td class="nump">65,333,387<span></span>
</td>
<td class="nump">59,104,979<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReinsurancePremiums', window );">Reinsurance premiums paid</a></td>
<td class="num">(191,088)<span></span>
</td>
<td class="num">(306,265)<span></span>
</td>
<td class="num">(344,199)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsRetainedFromInsuranceAndPensionPlans', window );">Premiums retained from insurance and pension plans</a></td>
<td class="nump">70,046,635<span></span>
</td>
<td class="nump">65,027,122<span></span>
</td>
<td class="nump">58,760,780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForInsurance', window );">Changes in the provision for insurance</a></td>
<td class="num">(30,435,868)<span></span>
</td>
<td class="num">(29,729,884)<span></span>
</td>
<td class="num">(25,528,076)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForPrivatePensionPlans', window );">Changes in the provision for private pension plans</a></td>
<td class="num">(4,369,903)<span></span>
</td>
<td class="num">(3,052,034)<span></span>
</td>
<td class="num">(2,757,963)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheInsuranceTechnicalProvisionsAndPensionPlans', window );">Changes in the technical provisions for insurance and pension plans</a></td>
<td class="num">(34,805,771)<span></span>
</td>
<td class="num">(32,781,918)<span></span>
</td>
<td class="num">(28,286,039)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansReportedIndemnities', window );">Reported indemnities</a></td>
<td class="num">(25,924,687)<span></span>
</td>
<td class="num">(24,877,804)<span></span>
</td>
<td class="num">(21,658,594)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries', window );">Claims expenses</a></td>
<td class="num">(36,068)<span></span>
</td>
<td class="num">(119,201)<span></span>
</td>
<td class="num">(69,599)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCededCoinsurance', window );">Recovery of ceded coinsurance</a></td>
<td class="nump">35,332<span></span>
</td>
<td class="nump">65,285<span></span>
</td>
<td class="nump">87,053<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfReinsurance', window );">Recovery of reinsurance</a></td>
<td class="nump">116,913<span></span>
</td>
<td class="nump">141,711<span></span>
</td>
<td class="nump">407,195<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansSalvageRecoveries', window );">Salvage recoveries</a></td>
<td class="nump">488,057<span></span>
</td>
<td class="nump">451,930<span></span>
</td>
<td class="nump">402,718<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheIbnrProvision', window );">Changes in the IBNR provision</a></td>
<td class="num">(274,509)<span></span>
</td>
<td class="num">(204,354)<span></span>
</td>
<td class="num">(892,816)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansRetainedClaims', window );">Retained claims</a></td>
<td class="num">(25,594,962)<span></span>
</td>
<td class="num">(24,542,433)<span></span>
</td>
<td class="num">(21,724,043)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansCommissionsOnPremiums', window );">Commissions on premiums</a></td>
<td class="num">(2,700,131)<span></span>
</td>
<td class="num">(2,696,002)<span></span>
</td>
<td class="num">(1,985,426)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCommissions', window );">Recovery of commissions</a></td>
<td class="nump">19,334<span></span>
</td>
<td class="nump">29,927<span></span>
</td>
<td class="nump">21,700<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansFees', window );">Fees</a></td>
<td class="num">(403,835)<span></span>
</td>
<td class="num">(489,279)<span></span>
</td>
<td class="num">(1,201,216)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansBrokerageExpensesPrivatePensionPlans', window );">Brokerage expenses - private pension plans</a></td>
<td class="num">(153,552)<span></span>
</td>
<td class="num">(167,654)<span></span>
</td>
<td class="num">(188,037)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInDeferredCommissions', window );">Changes in deferred commissions</a></td>
<td class="num">(167,728)<span></span>
</td>
<td class="num">(224,000)<span></span>
</td>
<td class="nump">99,786<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlansSellingExpensesForInsuranceAndPensionPlans', window );">Selling expenses for insurance and pension plans</a></td>
<td class="num">(3,405,912)<span></span>
</td>
<td class="num">(3,547,008)<span></span>
</td>
<td class="num">(3,253,193)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetIncomeFromInsuranceAndPensionPlans', window );">Net income from insurance and pension plans</a></td>
<td class="nump">R$ 6,239,990<span></span>
</td>
<td class="nump">R$ 4,155,763<span></span>
</td>
<td class="nump">R$ 5,497,505<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansBrokerageExpensesPrivatePensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Brokerage expenses - private pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansBrokerageExpensesPrivatePensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInDeferredCommissions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Changes in deferred commissions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansChangesInDeferredCommissions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheIbnrProvision">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Changes in the IBNR provision</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheIbnrProvision</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheInsuranceTechnicalProvisionsAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Changes in the insurance technical provisions and pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheInsuranceTechnicalProvisionsAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Changes in the provision for insurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForPrivatePensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Changes in the provision for private pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansChangesInTheProvisionForPrivatePensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansCoinsurancePremiumsCeded">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Coinsurance premiums ceded</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansCoinsurancePremiumsCeded</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansCommissionsOnPremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Commissions on premiums</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansCommissionsOnPremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Fees</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsRetainedFromInsuranceAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Premiums retained from insurance and pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsRetainedFromInsuranceAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsReturned">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Premiums returned</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsReturned</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsWritten">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Premiums written</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansPremiumsWritten</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCededCoinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Recovery of ceded coinsurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCededCoinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCommissions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Recovery of commissions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfCommissions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfReinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Recovery of reinsurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansRecoveryOfReinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansReportedIndemnities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Reported indemnities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansReportedIndemnities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansRetainedClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Retained claims</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansRetainedClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansSalvageRecoveries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Salvage recoveries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansSalvageRecoveries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansSellingExpensesForInsuranceAndPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Selling expenses for insurance and pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansSellingExpensesForInsuranceAndPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetIncomeFromInsuranceAndPensionPlansSupplementalPensionPlanContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income from insurance and pension plans - Supplemental pension plan contributions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetIncomeFromInsuranceAndPensionPlansSupplementalPensionPlanContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReinsurancePremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reinsurance premiums</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReinsurancePremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of claims and benefits paid to policyholders, net of reinsurance recoveries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsAndBenefitsPaidNetOfReinsuranceRecoveries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetEarnedPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of premiums earned on insurance contracts net of reinsurance premiums. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetEarnedPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>180
<FILENAME>R141.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6609778736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Impairment of loans and advances (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesAbstract', window );"><strong>Impairment of loans and advances [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLoss', window );">Impairment losses</a></td>
<td class="num">R$ (25,780,383)<span></span>
</td>
<td class="num">R$ (22,357,042)<span></span>
</td>
<td class="num">R$ (19,527,976)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RecoveryOfCreditsChargedoffAsLoss', window );">Recovery of credits charged-off as losses</a></td>
<td class="nump">7,034,857<span></span>
</td>
<td class="nump">5,507,507<span></span>
</td>
<td class="nump">4,144,879<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReversalOfImpairmentLoss', window );">Reversal of impairment</a></td>
<td class="nump">1,884,691<span></span>
</td>
<td class="nump">1,499,257<span></span>
</td>
<td class="nump">661,945<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvancesNote', window );">Total</a></td>
<td class="num">R$ (16,860,835)<span></span>
</td>
<td class="num">R$ (15,350,278)<span></span>
</td>
<td class="num">R$ (14,721,152)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvancesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvancesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvancesNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances (Note 12).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvancesNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RecoveryOfCreditsChargedoffAsLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances - Recovery of credits charged-off as loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RecoveryOfCreditsChargedoffAsLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 130<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_130_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 130<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_130_d_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReversalOfImpairmentLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as an increase of the carrying amount of an asset or cash-generating unit to its recoverable amount when an impairment loss had been previously recognised. [Refer: Impairment loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 130<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_130_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 130<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_130_d_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReversalOfImpairmentLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>181
<FILENAME>R142.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890555696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Personnel expenses (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract', window );"><strong>Classes of employee benefits expense [abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Salaries</a></td>
<td class="num">R$ (9,170,556)<span></span>
</td>
<td class="num">R$ (8,236,617)<span></span>
</td>
<td class="num">R$ (6,369,727)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLongtermBenefits', window );">Benefits</a></td>
<td class="num">(5,385,133)<span></span>
</td>
<td class="num">(3,625,796)<span></span>
</td>
<td class="num">(2,994,155)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SocialSecurityContributions', window );">Social security charges</a></td>
<td class="num">(3,505,290)<span></span>
</td>
<td class="num">(2,862,067)<span></span>
</td>
<td class="num">(2,402,112)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherShorttermEmployeeBenefits', window );">Employee profit sharing</a></td>
<td class="num">(1,572,472)<span></span>
</td>
<td class="num">(1,451,310)<span></span>
</td>
<td class="num">(1,304,958)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TerminationBenefitsExpense', window );">Provision for labor claims</a></td>
<td class="num">(927,136)<span></span>
</td>
<td class="num">(663,124)<span></span>
</td>
<td class="num">(853,660)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfessionalFeesExpense', window );">Training</a></td>
<td class="num">(162,678)<span></span>
</td>
<td class="num">(164,869)<span></span>
</td>
<td class="num">(133,435)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );">Total</a></td>
<td class="num">R$ (20,723,265)<span></span>
</td>
<td class="num">R$ (17,003,783)<span></span>
</td>
<td class="num">R$ (14,058,047)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLongtermBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of long-term employee benefits other than post-employment benefits and termination benefits. Such benefits may include long-term paid absences, jubilee or other long-service benefits, long-term disability benefits, long-term profit-sharing and bonuses and long-term deferred remuneration. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 158<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_158&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLongtermBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from employee benefits (other than termination benefits), which are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services, that the entity does not separately disclose in the same statement or note. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfessionalFeesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of fees paid or payable for professional services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfessionalFeesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SocialSecurityContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents social security contributions. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SocialSecurityContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TerminationBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense in relation to termination benefits. Termination benefits are employee benefits provided in exchange for the termination of an employee's employment as a result of either: (a) an entity's decision to terminate an employee's employment before the normal retirement date; or (b) an employee's decision to accept an offer of benefits in exchange for the termination of employment. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 171<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_171&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TerminationBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>182
<FILENAME>R143.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831155776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other administrative expenses (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpenseAbstract', window );"><strong>Other Administrative Expense [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ServicesExpense', window );">Outsourced services</a></td>
<td class="num">R$ (4,748,308)<span></span>
</td>
<td class="num">R$ (4,871,194)<span></span>
</td>
<td class="num">R$ (4,139,058)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CommunicationExpense', window );">Communication</a></td>
<td class="num">(1,684,153)<span></span>
</td>
<td class="num">(1,653,055)<span></span>
</td>
<td class="num">(1,427,685)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesDataProcessing', window );">Data processing</a></td>
<td class="num">(2,117,085)<span></span>
</td>
<td class="num">(1,612,454)<span></span>
</td>
<td class="num">(1,222,433)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations', window );">Advertising and marketing</a></td>
<td class="num">(942,851)<span></span>
</td>
<td class="num">(1,124,659)<span></span>
</td>
<td class="num">(963,308)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets', window );">Asset maintenance</a></td>
<td class="num">(1,158,840)<span></span>
</td>
<td class="num">(1,060,856)<span></span>
</td>
<td class="num">(926,001)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesFinancialSystem', window );">Financial system</a></td>
<td class="num">(1,033,017)<span></span>
</td>
<td class="num">(1,047,618)<span></span>
</td>
<td class="num">(830,199)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesRent', window );">Rental</a></td>
<td class="num">(1,142,166)<span></span>
</td>
<td class="num">(1,027,561)<span></span>
</td>
<td class="num">(887,412)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesSecurityAndSurveillance', window );">Security and surveillance</a></td>
<td class="num">(818,221)<span></span>
</td>
<td class="num">(736,547)<span></span>
</td>
<td class="num">(606,292)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransportationExpense', window );">Transport</a></td>
<td class="num">(782,444)<span></span>
</td>
<td class="num">(719,842)<span></span>
</td>
<td class="num">(631,085)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FuelAndEnergyExpense', window );">Water, electricity and gas</a></td>
<td class="num">(405,515)<span></span>
</td>
<td class="num">(384,069)<span></span>
</td>
<td class="num">(339,267)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation', window );">Advances to FGC (Deposit Guarantee Association)</a></td>
<td class="num">(418,670)<span></span>
</td>
<td class="num">(355,540)<span></span>
</td>
<td class="num">(303,094)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesMaterials', window );">Supplies</a></td>
<td class="num">(263,527)<span></span>
</td>
<td class="num">(321,509)<span></span>
</td>
<td class="num">(315,135)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TravelExpense', window );">Travel</a></td>
<td class="num">(261,911)<span></span>
</td>
<td class="num">(174,772)<span></span>
</td>
<td class="num">(157,723)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAdministrativeExpensesOther', window );">Other</a></td>
<td class="num">(1,105,753)<span></span>
</td>
<td class="num">(1,059,887)<span></span>
</td>
<td class="num">(973,278)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdministrativeExpense', window );">Total</a></td>
<td class="num">R$ (16,882,461)<span></span>
</td>
<td class="num">R$ (16,149,563)<span></span>
</td>
<td class="num">R$ (13,721,970)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Advances to FGC (Deposit Guarantee Association)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesAdvancesToFgcDepositGuaranteeAssociation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Advertising, promotions and public relations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesAdvertisingPromotionsAndPublicRelations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesDataProcessing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Data processing</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesDataProcessing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesFinancialSystem">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Financial system</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesFinancialSystem</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Maintenance and conservation of assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesMaintenanceAndConservationOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesMaterials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Materials</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesMaterials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Other</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Rent</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAdministrativeExpensesSecurityAndSurveillance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other administrative expenses - Security and surveillance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAdministrativeExpensesSecurityAndSurveillance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses that the entity classifies as being administrative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CommunicationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from communication.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CommunicationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FuelAndEnergyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from the consumption of fuel and energy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FuelAndEnergyExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransportationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from transportation services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransportationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TravelExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from travel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TravelExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>183
<FILENAME>R144.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830428144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Depreciation and amortization (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpenseAbstract', window );"><strong>Depreciation and amortization (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization expenses</a></td>
<td class="num">R$ (3,331,240)<span></span>
</td>
<td class="num">R$ (2,516,777)<span></span>
</td>
<td class="num">R$ (1,884,281)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="num">(1,237,328)<span></span>
</td>
<td class="num">(1,141,636)<span></span>
</td>
<td class="num">(1,057,722)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationAndAmortisationExpense', window );">Total</a></td>
<td class="num">R$ (4,568,568)<span></span>
</td>
<td class="num">R$ (3,658,413)<span></span>
</td>
<td class="num">R$ (2,942,003)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationAndAmortisationExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationAndAmortisationExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>184
<FILENAME>R145.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6609773856">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Other operating income/(expenses) (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesAbstract', window );"><strong>Other operating income/(expenses) [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax', window );">Tax expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (5,960,618)<span></span>
</td>
<td class="num">R$ (6,331,651)<span></span>
</td>
<td class="num">R$ (4,791,754)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesLegalProvision', window );">Legal provision</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,238,057)<span></span>
</td>
<td class="num">(2,927,734)<span></span>
</td>
<td class="num">(1,439,460)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities', window );">Variation in monetary liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,710<span></span>
</td>
<td class="num">(699,719)<span></span>
</td>
<td class="num">(597,240)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnDisposalsOfNoncurrentAssets', window );">Income from sales of non-current assets, investments, and property and equipment, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(412,957)<span></span>
</td>
<td class="num">(467,042)<span></span>
</td>
<td class="num">(277,232)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesOther', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,553,435)<span></span>
</td>
<td class="num">(3,578,016)<span></span>
</td>
<td class="num">(5,882,867)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (10,133,357)<span></span>
</td>
<td class="num">R$ (14,004,162)<span></span>
</td>
<td class="num">R$ (12,988,553)<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes: (i) the effect of the (additions)/reversal of provision for tax contingency in 2017 - R$ 487,269 thousand (2016 - R$ (484,227) thousand and 2015 - R$ (570,835) thousand); (ii) impairment losses in the amount of 2017 - R$ 185,188 thousand (2016 - R$ 31,256 thousand and 2015 - R$ 207,880 thousand); and (iii) operating expense related of insurance operation in 2017 - R$ 1,354,719 thousand (2016 - R$ 1,388,645 thousand and 2015 - R$ 1,281,381 thousand).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherOperatingIncomeexpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperatingIncomeexpensesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) - Expenses with taxes other than income tax</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperatingIncomeexpensesExpensesWithTaxesOtherThanIncomeTax</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) - Legal provision</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperatingIncomeexpensesLegalProvision</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherOperatingIncomeexpensesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) - Other (1)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperatingIncomeexpensesOther</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) - Variation in monetary liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherOperatingIncomeexpensesVariationInMonetaryLiabilities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnDisposalsOfNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on disposals of non-current assets. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnDisposalsOfNoncurrentAssets</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other operating income/(expenses) (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherOperatingIncomeexpensesDetailsTextAbstract', window );"><strong>Other Operating Incomeexpenses Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfImpairmentOfGoodwill', window );">Effect of the (additions)/reversal of provision for tax contingency</a></td>
<td class="nump">R$ 487,269<span></span>
</td>
<td class="num">R$ (484,227)<span></span>
</td>
<td class="num">R$ (570,835)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Impairment losses in the amount</a></td>
<td class="nump">185,188<span></span>
</td>
<td class="nump">31,256<span></span>
</td>
<td class="nump">207,880<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts', window );">Operating expense related of insurance operation</a></td>
<td class="nump">R$ 1,354,719<span></span>
</td>
<td class="nump">R$ 1,388,645<span></span>
</td>
<td class="nump">R$ 1,281,381<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other operating income/(expenses) (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition and administration expense relating to insurance contracts. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionAndAdministrationExpenseRelatedToInsuranceContracts</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss; Depreciation and amortisation expense; Impairment loss (reversal of impairment loss) recognised in profit or loss; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount representing the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to impairment of goodwill. [Refer: Accounting profit; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfImpairmentOfGoodwill</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871297568">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CalculationOfIncomeTaxAndSocialContributionChargesAbstract', window );"><strong>Calculation Of Income Tax And Social Contribution Charges [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 23,743,559<span></span>
</td>
<td class="nump">R$ 31,905,456<span></span>
</td>
<td class="nump">R$ 9,603,583<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively', window );">Total burden of income tax and social contribution at the current rates</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(10,684,602)<span></span>
</td>
<td class="num">(14,357,455)<span></span>
</td>
<td class="num">(4,321,612)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract', window );"><strong>Effect of additions and exclusions in the tax calculation:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EarningsLossesOfAssociatesAndJointVentures', window );">Earnings (losses) of associates and joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">773,285<span></span>
</td>
<td class="nump">764,876<span></span>
</td>
<td class="nump">687,623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestOnEquityPaidAndPayable', window );">Interest on shareholders' equity (paid and payable)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,241,955<span></span>
</td>
<td class="nump">3,139,102<span></span>
</td>
<td class="nump">2,305,695<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability', window );">Net tax credit of deferred liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,341,220<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax', window );">Other amounts</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">240,406<span></span>
</td>
<td class="num">(3,459,253)<span></span>
</td>
<td class="nump">7,621,396<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (6,428,956)<span></span>
</td>
<td class="num">R$ (13,912,730)<span></span>
</td>
<td class="nump">R$ 8,634,322<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageEffectiveTaxRate', window );">Effective rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">27.10%<span></span>
</td>
<td class="nump">43.60%<span></span>
</td>
<td class="num">(89.90%)<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Current rates: (i) 25% for income tax; (ii) of 15% for the social contribution to financial and equated companies, and of the insurance industry, and of 20%, from September 2015 to December 2018, in accordance with Law no 13,169/15; and (iii) of 9% for the other companies (Note 2w);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In 2015, refers to, constitution of deferred tax assets, net of deferred liabilities, related to the increase in the social contribution tax rate, according to Law no 13,169/15; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Basically, includes, (i) the exchange rate variation of assets and liabilities, derived from investments abroad; (ii) the equalization of the effective rate of social contribution in relation to the rate of 45% shown; and (iii) the deduction incentives.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CalculationOfIncomeTaxAndSocialContributionChargesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Calculation of income tax and social contribution charges</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CalculationOfIncomeTaxAndSocialContributionChargesAbstract</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Earnings (losses) of associates and joint ventures</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EarningsLossesOfAssociatesAndJointVentures</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effect of additions and exclusions in the tax calculation:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EffectOfAdditionsAndExclusionsInTheTaxCalculationAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest on equity (paid and payable)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestOnEquityPaidAndPayable</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total income tax and social contribution charges at rates of 25% and 15%, respectively</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalIncomeTaxAndSocialContributionChargesAtRatesOf25And15Respectively</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageEffectiveTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax expense (income) divided by the accounting profit. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageEffectiveTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to changes in the fair value of financial liabilities attributable to the changes in the credit risk of those liabilities. [Refer: Other comprehensive income; Credit risk [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxChangeInFairValueOfFinancialLiabilityAttributableToChangeInCreditRiskOfLiability</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income that will be reclassified to profit or loss, before tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph IG6<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_IG6&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82A&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>187
<FILENAME>R148.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6887352768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentTaxesAbstract', window );"><strong>Current Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentTaxesIncomeTaxAndSocialContributionDue', window );">Income tax and social contribution payable</a></td>
<td class="num">R$ (8,788,060)<span></span>
</td>
<td class="num">R$ (8,852,947)<span></span>
</td>
<td class="num">R$ (6,075,948)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxesAbstract', window );"><strong>Deferred taxes:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences', window );">Net Addition/(realization) of temporary differences</a></td>
<td class="nump">2,950,961<span></span>
</td>
<td class="num">(4,106,008)<span></span>
</td>
<td class="nump">11,424,595<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UseOfOpeningBalancesOfAbstract', window );"><strong>Use of opening balances of:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UseOfInitialBalancesFromNegativeSocialContributionLosses', window );">Social contribution loss</a></td>
<td class="num">(430,584)<span></span>
</td>
<td class="num">(647,282)<span></span>
</td>
<td class="num">(127,214)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UseOfInitialBalancesFromIncomeTaxLoss', window );">Income tax loss</a></td>
<td class="num">(331,512)<span></span>
</td>
<td class="num">(879,276)<span></span>
</td>
<td class="num">(65,224)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionOnAbstract', window );"><strong>Addition on:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionOnNegativeSocialContributionLosses', window );">Social contribution loss</a></td>
<td class="nump">150,371<span></span>
</td>
<td class="nump">234,730<span></span>
</td>
<td class="nump">272,793<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AdditionOnIncomeTaxLoss', window );">Income tax loss</a></td>
<td class="nump">19,868<span></span>
</td>
<td class="nump">338,053<span></span>
</td>
<td class="nump">731,419<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ActivationOfTheTaxCreditLawNo1316915Abstract', window );"><strong>Activation of the tax credit - Law No. 13,169/15:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ActivationOfTheDeferredTaxAssetsNegativeSocialContributionLosses', window );">Social contribution loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">422,853<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ActivationOfTheDeferredTaxAssetsTemporaryAdditions', window );">Temporary additions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,051,048<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Total deferred tax expense</a></td>
<td class="nump">2,359,104<span></span>
</td>
<td class="num">(5,059,783)<span></span>
</td>
<td class="nump">14,710,270<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution</a></td>
<td class="num">R$ (6,428,956)<span></span>
</td>
<td class="num">R$ (13,912,730)<span></span>
</td>
<td class="nump">R$ 8,634,322<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ActivationOfTheDeferredTaxAssetsNegativeSocialContributionLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Activation of the deferred tax assets &#8211; Negative social contribution losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ActivationOfTheDeferredTaxAssetsNegativeSocialContributionLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ActivationOfTheDeferredTaxAssetsTemporaryAdditions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Activation of the deferred tax assets &#8211; Temporary additions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ActivationOfTheDeferredTaxAssetsTemporaryAdditions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ActivationOfTheTaxCreditLawNo1316915Abstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Activation of the tax credit &#8211; Law No. 13,169/15:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ActivationOfTheTaxCreditLawNo1316915Abstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdditionOnAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Addition on</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdditionOnAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdditionOnIncomeTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Addition on - Income tax loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdditionOnIncomeTaxLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AdditionOnNegativeSocialContributionLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Addition on - Negative social contribution losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AdditionOnNegativeSocialContributionLosses</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current taxes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentTaxesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentTaxesIncomeTaxAndSocialContributionDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current taxes - Income tax and social contribution due</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentTaxesIncomeTaxAndSocialContributionDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred taxes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred taxes - Net Addition/(realization) of temporary differences</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxesNetAdditionrealizationOfTemporaryDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UseOfInitialBalancesFromIncomeTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Use of initial balances from - Income tax loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UseOfInitialBalancesFromIncomeTaxLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UseOfInitialBalancesFromNegativeSocialContributionLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Use of initial balances from - Negative social contribution losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UseOfInitialBalancesFromNegativeSocialContributionLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UseOfOpeningBalancesOfAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Use of opening balances of:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UseOfOpeningBalancesOfAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6842797488">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Income tax and social contribution (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAxis=bbd_DeferredIncomeTaxAndSocialContributionAmountRecordedMember', window );">Amount recorded</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeAbstract', window );"><strong>Deferred income tax and social contribution</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionsOfImpairmentOfLoansAndAdvances', window );">Provisions of impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 12,264,028<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 12,948,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionForContingencies', window );">Provision for contingencies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,782,500<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,498,218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfSecurities', window );">Adjustment to market value of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,724,016<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">282,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,773,082<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,135,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalTaxAssetsOnTemporaryDifferences', window );">Total tax assets on temporary differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">20,543,626<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">18,865,330<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionIncomeTaxAndSocialContributionLossesInBrazilAndAbroad', window );">Income tax and social contribution losses in Brazil and abroad</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">170,239<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">572,783<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfAvailableForSale', window );">Adjustment to market value of available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">576,732<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">393,369<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalDeferredTaxAssets', window );">Total deferred tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">21,290,597<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">19,831,482<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionDeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">3,557,618<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,920,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionNetDeferredTaxes', window );">Net deferred taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">17,732,979<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">17,911,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAxis=bbd_DeferredIncomeTaxAndSocialContributionRealizedDecreaseMember', window );">Realized / Decrease</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeAbstract', window );"><strong>Deferred income tax and social contribution</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionsOfImpairmentOfLoansAndAdvances', window );">Provisions of impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,771,818<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">16,493,156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionForContingencies', window );">Provision for contingencies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,907,251<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,077,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfSecurities', window );">Adjustment to market value of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,268,623<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">1,994,699<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,644,973<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,406,216<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalTaxAssetsOnTemporaryDifferences', window );">Total tax assets on temporary differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,592,665<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">22,971,338<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionIncomeTaxAndSocialContributionLossesInBrazilAndAbroad', window );">Income tax and social contribution losses in Brazil and abroad</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">762,096<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">1,526,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfAvailableForSale', window );">Adjustment to market value of available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,069,900<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,636,805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionSocialContributionMP215835ChangeInTaxLaw', window );">Social contribution - MP 2,158-35 (change in tax law)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">113,783<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalDeferredTaxAssets', window );">Total deferred tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">19,424,661<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">27,248,484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionDeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">817,831<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">1,550,630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionNetDeferredTaxes', window );">Net deferred taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">18,606,830<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">25,697,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAxis=bbd_DeferredIncomeTaxAndSocialContributionBalanceOnMember', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeAbstract', window );"><strong>Deferred income tax and social contribution</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionsOfImpairmentOfLoansAndAdvances', window );">Provisions of impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26,503,863<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">23,011,653<span></span>
</td>
<td class="nump">R$ 22,617,097<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionForContingencies', window );">Provision for contingencies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,226,483<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7,351,234<span></span>
</td>
<td class="nump">5,720,598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfSecurities', window );">Adjustment to market value of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,943,875<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,488,482<span></span>
</td>
<td class="nump">7,090,939<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,809,566<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,681,457<span></span>
</td>
<td class="nump">3,511,581<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalTaxAssetsOnTemporaryDifferences', window );">Total tax assets on temporary differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">43,483,787<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">40,532,826<span></span>
</td>
<td class="nump">38,940,215<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionIncomeTaxAndSocialContributionLossesInBrazilAndAbroad', window );">Income tax and social contribution losses in Brazil and abroad</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,003,872<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,595,729<span></span>
</td>
<td class="nump">5,761,626<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfAvailableForSale', window );">Adjustment to market value of available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">493,168<span></span>
</td>
<td class="nump">2,704,484<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionSocialContributionMP215835ChangeInTaxLaw', window );">Social contribution - MP 2,158-35 (change in tax law)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">113,783<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalDeferredTaxAssets', window );">Total deferred tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">48,487,659<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">46,621,723<span></span>
</td>
<td class="nump">47,520,108<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionDeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">6,007,595<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,267,808<span></span>
</td>
<td class="nump">2,894,367<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionNetDeferredTaxes', window );">Net deferred taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 42,480,064<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">43,353,915<span></span>
</td>
<td class="nump">R$ 44,625,741<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAxis=bbd_DeferredIncomeTaxAndSocialContributionBalanceOriginatingFromAnAcquiredInstitutionMember', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeAbstract', window );"><strong>Deferred income tax and social contribution</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionsOfImpairmentOfLoansAndAdvances', window );">Provisions of impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,938,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionProvisionForContingencies', window );">Provision for contingencies</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,209,685<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfSecurities', window );">Adjustment to market value of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">109,501<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">440,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalTaxAssetsOnTemporaryDifferences', window );">Total tax assets on temporary differences</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,698,619<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionIncomeTaxAndSocialContributionLossesInBrazilAndAbroad', window );">Income tax and social contribution losses in Brazil and abroad</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">787,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionAdjustmentToMarketValueOfAvailableForSale', window );">Adjustment to market value of available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">32,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionTotalDeferredTaxAssets', window );">Total deferred tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">6,518,617<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionDeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,592<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredIncomeTaxAndSocialContributionNetDeferredTaxes', window );">Net deferred taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 6,515,025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Deferred tax assets of financial and similar companies and insurance industry were established considering the increase of the social contribution rate, determined by Law 11.727/08 and Law 13.169/15 (Note 2 x); and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Deferred income and social contribution tax assets and liabilities are offset in the balance sheet by taxable entity, and were R$ 4,755,748 thousand in 2017 and R$ 1,504,860 thousand in 2016;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Includes a write-off of tax credits, in the amount of R$ 150,040 thousand.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">HSBC Brasil (Note 2a);</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Adjustment to market value of available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Adjustment to market value of securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Deferred tax liabilities</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Net deferred taxes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Provision for contingencies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Provisions of impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Social contribution - MP 2,158-35 (change in tax law)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Total deferred tax assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax and social contribution - Total tax assets on temporary diferences</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839289280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Details 4)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">R$ 26,784,302<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">16,699,485<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">6,189,592<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">4,778,522<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">6,106,611<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">3,500,573<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">5,444,841<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">3,163,487<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | 2021</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">4,408,140<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">2,609,808<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">2,534,237<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">1,470,379<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember', window );">Temporary differences | After 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">2,100,881<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">1,176,716<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">2,618,009<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">2,385,863<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">157,668<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">303,794<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">143,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">80,058<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">139,825<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">78,361<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | 2021</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">620,279<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">367,041<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">732,490<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">478,318<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember', window );">Income tax and Social contribution losses | After 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax', window );">Income tax</a></td>
<td class="nump">824,042<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution', window );">Social contribution</a></td>
<td class="nump">1,078,291<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">48,487,659<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | 2018</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">11,429,576<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | 2019</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">9,830,947<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | 2020</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">8,826,514<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | 2021</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">8,005,268<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">5,215,424<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember', window );">Total | After 2022</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract', window );"><strong>Expected realization of deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal', window );">Total</a></td>
<td class="nump">R$ 5,179,930<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected realization of deferred tax assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected realization of deferred tax assets - Income tax</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected realization of deferred tax assets - Social contribution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsSocialContribution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected realization of deferred tax assets - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_TemporaryDifferenceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2018Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2020Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2020Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2021Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2021Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssets2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssetsAfter2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedRealizationOfDeferredTaxAssetsAxis=bbd_ExpectedRealizationOfDeferredTaxAssetsAfter2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_IncomeTaxAndSocialContributionLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=bbd_TotalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>190
<FILENAME>R151.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836134112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income tax and social contribution (Details 5) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxLiabilitiesAbstract', window );"><strong>Deferred Tax Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing', window );">Timing differences of depreciation - finance leasing</a></td>
<td class="nump">R$ 283,232<span></span>
</td>
<td class="nump">R$ 381,119<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets', window );">Adjustment to market value of securities</a></td>
<td class="nump">1,215,588<span></span>
</td>
<td class="nump">213,404<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers', window );">Judicial deposit and others</a></td>
<td class="nump">4,508,775<span></span>
</td>
<td class="nump">2,673,285<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Total</a></td>
<td class="nump">R$ 6,007,595<span></span>
</td>
<td class="nump">R$ 3,267,808<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax liabilities - Adjustment to market values of financial assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxLiabilitiesAdjustmentToMarketValuesOfFinancialAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax liabilities - Judicial deposit and others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxLiabilitiesJudicialDepositAndOthers</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax liabilities - Timing differences of depreciation - finance leasing</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredTaxLiabilitiesTimingDifferencesOfDepreciationFinanceLeasing</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6841058480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Details 6) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityBeforeTaxMember', window );">Before tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAbstract', window );"><strong>Income tax and social contribution on adjustments recognized directly in equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Financial assets recorded as available for sale</a></td>
<td class="nump">R$ 3,418,567<span></span>
</td>
<td class="nump">R$ 6,298,103<span></span>
</td>
<td class="num">R$ (5,677,902)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Exchange differences on translations of foreign operations</a></td>
<td class="nump">23,010<span></span>
</td>
<td class="num">(194,566)<span></span>
</td>
<td class="nump">118,485<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss', window );">Total</a></td>
<td class="nump">3,441,577<span></span>
</td>
<td class="nump">6,103,537<span></span>
</td>
<td class="num">(5,559,417)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityTaxExpenseBenefitMember', window );">Tax (expense)/ benefit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAbstract', window );"><strong>Income tax and social contribution on adjustments recognized directly in equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Financial assets recorded as available for sale</a></td>
<td class="num">(1,231,202)<span></span>
</td>
<td class="num">(2,587,076)<span></span>
</td>
<td class="nump">2,273,982<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Exchange differences on translations of foreign operations</a></td>
<td class="nump">5,992<span></span>
</td>
<td class="nump">87,555<span></span>
</td>
<td class="num">(57,788)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss', window );">Total</a></td>
<td class="num">(1,225,210)<span></span>
</td>
<td class="num">(2,499,521)<span></span>
</td>
<td class="nump">2,216,194<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityNetOfTaxMember', window );">Net of tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAbstract', window );"><strong>Income tax and social contribution on adjustments recognized directly in equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome', window );">Financial assets recorded as available for sale</a></td>
<td class="nump">2,187,365<span></span>
</td>
<td class="nump">3,711,027<span></span>
</td>
<td class="num">(3,403,920)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Exchange differences on translations of foreign operations</a></td>
<td class="nump">29,002<span></span>
</td>
<td class="num">(107,011)<span></span>
</td>
<td class="nump">60,697<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss', window );">Total</a></td>
<td class="nump">R$ 2,216,367<span></span>
</td>
<td class="nump">R$ 3,604,016<span></span>
</td>
<td class="num">R$ (3,343,223)<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax and social contribution on adjustments recognized directly in equity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-02&amp;anchor=para_81_ab&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_90&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToAvailableforsaleFinancialAssetsOfOtherComprehensiveIncome</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to exchange differences on the translation of financial statements of foreign operations. [Refer: Other comprehensive income; Reserve of exchange differences on translation]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to an entity's share of other comprehensive income of associates and joint ventures accounted for using the equity method that will be reclassified to profit or loss. [Refer: Share of other comprehensive income of associates and joint ventures accounted for using equity method, before tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityBeforeTaxMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityTaxExpenseBenefitMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityAxis=bbd_IncomeTaxAndSocialContributionOnAdjustmentsRecognizedDirectlyInEquityNetOfTaxMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>192
<FILENAME>R153.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6843695232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income tax and social contribution (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1">40 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract', window );"><strong>Income tax and social contribution (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate', window );">Equalization of the effective rate of social contribution in relation to the rate</a></td>
<td class="nump">45.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred tax assets and deferred tax liabilities are offset in the consolidated statement of financial position</a></td>
<td class="nump">R$ 4,755,748<span></span>
</td>
<td class="nump">R$ 1,504,860<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_WriteoffOfTaxCredits', window );">Write-off of tax credits</a></td>
<td class="nump">R$ 150,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentRatesAxis=bbd_CurrentRatesIncomeTaxMember', window );">Income tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract', window );"><strong>Income tax and social contribution (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionMember', window );">Social contribution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract', window );"><strong>Income tax and social contribution (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionInsuranceIndustryMember', window );">Social contribution - Insurance industry</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract', window );"><strong>Income tax and social contribution (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentRatesAxis=bbd_CurrentRatessocialContributionOtherCompaniesMember', window );">Social contribution - Other companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract', window );"><strong>Income tax and social contribution (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equalization of the effective rate of social contribution in relation to the rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EqualizationOfTheEffectiveRateOfSocialContributionInRelationToTheRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncomeTaxAndSocialContributionDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax and social contribution (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncomeTaxAndSocialContributionDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_WriteoffOfTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Write-off of tax credits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_WriteoffOfTaxCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentRatesAxis=bbd_CurrentRatesIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentRatesAxis=bbd_CurrentRatesIncomeTaxMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionInsuranceIndustryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentRatesAxis=bbd_CurrentRatesSocialContributionInsuranceIndustryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentRatesAxis=bbd_CurrentRatessocialContributionOtherCompaniesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentRatesAxis=bbd_CurrentRatessocialContributionOtherCompaniesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>193
<FILENAME>R154.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837562736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per share (Details 1) - BRL (R$)<br> R$ / shares in Units, shares in Thousands, R$ in Thousands</strong></div></th>
<th class="th" colspan="5">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsPerShareAbstract', window );"><strong>Basic earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetEarningsAttributableToTheOrganizationsCommonShareholders', window );">Net earnings attributable to the Organization's common shareholders (R$ thousand)</a></td>
<td class="nump">R$ 8,157,920<span></span>
</td>
<td colspan="2" class="nump">R$ 8,542,147<span></span>
</td>
<td colspan="2" class="nump">R$ 8,652,905<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetEarningsAttributableToTheOrganizationsPreferredShareholders', window );">Net earnings attributable to the Organization's preferred shareholders (R$ thousand)</a></td>
<td class="nump">R$ 8,931,444<span></span>
</td>
<td colspan="2" class="nump">R$ 9,352,102<span></span>
</td>
<td colspan="2" class="nump">R$ 9,480,001<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Weighted average number of common shares outstanding (thousands)</a></td>
<td class="nump">3,049,991<span></span>
</td>
<td colspan="2" class="nump">3,049,991<span></span>
</td>
<td colspan="2" class="nump">3,050,156<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_WeightedAverageNumberOfSharesOutstandingThousands', window );">Weighted average number of preferred shares outstanding (thousands)</a></td>
<td class="nump">3,035,625<span></span>
</td>
<td colspan="2" class="nump">3,035,625<span></span>
</td>
<td colspan="2" class="nump">3,037,917<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsPerShareAbstract', window );"><strong>Basic earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShare', window );">Basic earnings per share attributable to shareholders of the Organization (in Reais)</a></td>
<td class="nump">R$ 2.67<span></span>
</td>
<td colspan="2" class="nump">R$ 2.80<span></span>
</td>
<td colspan="2" class="nump">R$ 2.84<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsPerShareAbstract', window );"><strong>Basic earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicAndDilutedEarningsLossPerShare', window );">Basic earnings per share attributable to shareholders of the Organization (in Reais)</a></td>
<td class="nump">R$ 2.94<span></span>
</td>
<td colspan="2" class="nump">R$ 3.08<span></span>
</td>
<td colspan="2" class="nump">R$ 3.12<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors' Meeting of March 10, 2017, in the proportion of one new share for every 10 shares held.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net earnings attributable to the Organization's common shareholders</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetEarningsAttributableToTheOrganizationsCommonShareholders</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetEarningsAttributableToTheOrganizationsPreferredShareholders">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net earnings attributable to the Organization's preferred shareholders</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetEarningsAttributableToTheOrganizationsPreferredShareholders</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_WeightedAverageNumberOfSharesOutstandingThousands">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average number of shares outstanding</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_WeightedAverageNumberOfSharesOutstandingThousands</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicAndDilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of earnings per share when the basic and diluted measurements are equal. [Refer: Basic earnings (loss) per share; Diluted earnings (loss) per share]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicAndDilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsPerShareAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>194
<FILENAME>R155.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830351040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Earnings per share (Details Text) - shares<br></strong></div></th>
<th class="th"><div>Mar. 10, 2017</div></th>
<th class="th"><div>Mar. 10, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EarningsPerShareDetailsTextAbstract', window );"><strong>Earnings Per Share Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ShareBonus', window );">Share bonus</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EarningsPerShareDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Earnings per share (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EarningsPerShareDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ShareBonus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share bonus</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ShareBonus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>195
<FILENAME>R156.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6889723072">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Cash and cash equivalents (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAbstract', window );"><strong>Cash [abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash and due from banks in domestic currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 12,939,852<span></span>
</td>
<td class="nump">R$ 12,432,290<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashInForeignCurrency', window );">Cash and due from banks in foreign currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,088,498<span></span>
</td>
<td class="nump">2,085,650<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankBalancesAtCentralBanksOtherThanMandatoryReserveDeposits', window );">Compulsory deposits with the Central Bank</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">66,714,226<span></span>
</td>
<td class="nump">58,036,531<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">375<span></span>
</td>
<td class="nump">180<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndBankBalancesAtCentralBanks', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 81,742,951<span></span>
</td>
<td class="nump">R$ 72,554,651<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Compulsory deposits with the Brazilian Central Bank refer to a minimum balance that financial institutions must maintain at the Brazilian Central Bank based on a percentage of deposits received from third parties.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashInForeignCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash in foreign currency</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashInForeignCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankBalancesAtCentralBanksOtherThanMandatoryReserveDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bank balances held at central banks other than mandatory reserve deposits. [Refer: Mandatory reserve deposits at central banks]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankBalancesAtCentralBanksOtherThanMandatoryReserveDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndBankBalancesAtCentralBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and bank balances held at central banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndBankBalancesAtCentralBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that the entity does not separately disclose in the same statement or note. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>196
<FILENAME>R157.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831105440">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Cash and cash equivalents (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalentsAbstract', window );"><strong>Cash and cash equivalents [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Cash', window );">Cash and due from banks in domestic currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 12,939,852<span></span>
</td>
<td class="nump">R$ 12,432,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashInForeignCurrency', window );">Cash and due from banks in foreign currency</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,088,498<span></span>
</td>
<td class="nump">2,085,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">141,025,717<span></span>
</td>
<td class="nump">166,712,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCashAndCashEquivalents', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">375<span></span>
</td>
<td class="nump">180<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 156,054,442<span></span>
</td>
<td class="nump">R$ 181,230,427<span></span>
</td>
<td class="nump">R$ 147,261,434<span></span>
</td>
<td class="nump">R$ 204,671,481<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to operations with maturity date on the effective date of investment equal to or less than 90 days and insignificant risk of change in the fair value. Of this amount, R$ 123,691,195 thousand (2016 - R$ 84,728,590 thousand) refers to reverse repurchase agreements registered as Financial assets pledged as collateral (Note 23) and R$ 17,334,522 thousand (2016 - R$ 81,983,717 thousand) as Loans and advances to banks.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashInForeignCurrency">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash in foreign currency</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashInForeignCurrency</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits. [Refer: Cash on hand]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Cash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash and cash equivalents that the entity does not separately disclose in the same statement or note. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term investments. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830525136">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Cash and cash equivalents (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashAndBalancesWithBanksDetailsTextAbstract', window );"><strong>Cash and balances with banks (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 123,691,195<span></span>
</td>
<td class="nump">R$ 84,728,590<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CashAndBalancesWithBanksDetailsTextAbstract', window );"><strong>Cash and balances with banks (Details Text)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 17,334,522<span></span>
</td>
<td class="nump">R$ 81,983,717<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold in a separate repurchase agreement.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CashAndBalancesWithBanksDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash and balances with banks (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CashAndBalancesWithBanksDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial assets that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialInstrumentsAxis=ifrs-full_CorporateLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>198
<FILENAME>R159.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830086544">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingAbstract', window );"><strong>Financial Assets Held For Trading [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GovernmentDebtInstrumentsHeld', window );">Brazilian government securities</a></td>
<td class="nump">R$ 202,249,272<span></span>
</td>
<td class="nump">R$ 161,103,399<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankDebtInstrumentsHeld', window );">Bank debt securities</a></td>
<td class="nump">8,348,269<span></span>
</td>
<td class="nump">18,600,127<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CorporateDebtInstrumentsHeld', window );">Corporate debt and marketable equity securities</a></td>
<td class="nump">12,339,790<span></span>
</td>
<td class="nump">10,383,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets', window );">Mutual funds</a></td>
<td class="nump">4,377,508<span></span>
</td>
<td class="nump">4,303,781<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">307<span></span>
</td>
<td class="nump">1,358,025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">528,010<span></span>
</td>
<td class="nump">635,390<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="nump">13,866,885<span></span>
</td>
<td class="nump">16,755,442<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Total</a></td>
<td class="nump">R$ 241,710,041<span></span>
</td>
<td class="nump">R$ 213,139,846<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ForeignGovernmentsSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Foreign governments securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ForeignGovernmentsSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankDebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt instruments held by the entity that were issued by a bank. [Refer: Debt instruments held]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankDebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CorporateDebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt instruments held by the entity that were issued by a corporate entity. [Refer: Debt instruments held]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CorporateDebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss classified as held for trading. A financial asset is classified as held for trading if: (a) it is acquired principally for the purpose of selling it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GovernmentDebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt instruments held by the entity that were issued by a government. [Refer: Debt instruments held; Government [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GovernmentDebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that investment funds constitute of the fair value of defined benefit plan assets. [Refer: Plan assets, at fair value; Defined benefit plans [member]; Investment funds [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 142<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_142_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>199
<FILENAME>R160.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830743440">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingMaturityAbstract', window );"><strong>Financial Assets Held For Trading Maturity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear', window );">Maturity of up to one year</a></td>
<td class="nump">R$ 31,617,538<span></span>
</td>
<td class="nump">R$ 35,002,911<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingMaturityOfOneToFiveYears', window );">Maturity of one to five years</a></td>
<td class="nump">146,527,365<span></span>
</td>
<td class="nump">134,589,655<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingMaturityOfFiveTo10Years', window );">Maturity of five to 10 years</a></td>
<td class="nump">53,763,561<span></span>
</td>
<td class="nump">29,299,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years', window );">Maturity of over 10 years</a></td>
<td class="nump">2,409,723<span></span>
</td>
<td class="nump">6,537,358<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsHeldForTradingNoStatedMaturity', window );">Maturity not stated</a></td>
<td class="nump">7,391,854<span></span>
</td>
<td class="nump">7,710,224<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Total</a></td>
<td class="nump">R$ 241,710,041<span></span>
</td>
<td class="nump">R$ 213,139,846<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingMaturityAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingMaturityOfFiveTo10Years">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Maturity of five to 10 years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingMaturityOfFiveTo10Years</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Maturity of one to five years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingMaturityOfOneToFiveYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Maturity of over 10 years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingMaturityOfOver10Years</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - Maturity of up to one year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingMaturityOfUpToOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsHeldForTradingNoStatedMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets held for trading - No stated maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsHeldForTradingNoStatedMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets at fair value through profit or loss classified as held for trading. A financial asset is classified as held for trading if: (a) it is acquired principally for the purpose of selling it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: At fair value [member]; Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>200
<FILENAME>R161.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830247328">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesHeldForTradingAbstract', window );"><strong>Financial Liabilities Held For Trading [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="nump">R$ 14,274,999<span></span>
</td>
<td class="nump">R$ 13,435,678<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Total</a></td>
<td class="nump">R$ 14,274,999<span></span>
</td>
<td class="nump">R$ 13,435,678<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLiabilitiesHeldForTradingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities held for trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLiabilitiesHeldForTradingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities at fair value through profit or loss that meet the definition of held for trading. A financial liability is classified as held for trading if: (a) it is acquired or incurred principally for the purpose of selling or repurchasing it in the near term; (b) on initial recognition it is part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or (c) it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument). [Refer: Financial liabilities at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>201
<FILENAME>R162.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6840572336">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Details 4) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Purchases | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">R$ 163,224<span></span>
</td>
<td class="nump">R$ 48,291<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">162<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Purchases | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">48,376,597<span></span>
</td>
<td class="nump">27,399,904<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">1,243<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Sales | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">113,772<span></span>
</td>
<td class="nump">967<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(114)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Sales | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">67,238,635<span></span>
</td>
<td class="nump">58,690,018<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(1,003)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Interest rate futures | Purchases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">96,081,180<span></span>
</td>
<td class="nump">111,026,397<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">3,586<span></span>
</td>
<td class="nump">9,022<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember', window );">Futures contracts | Interest rate futures | Sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">132,837,699<span></span>
</td>
<td class="nump">94,677,587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(154,188)<span></span>
</td>
<td class="num">(19,163)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Purchases | Interest rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">10,663,668<span></span>
</td>
<td class="nump">5,467,042<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">101,214<span></span>
</td>
<td class="nump">260,565<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Purchases | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">443,443<span></span>
</td>
<td class="nump">27,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">34,013<span></span>
</td>
<td class="nump">2,708<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Purchases | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">7,335,027<span></span>
</td>
<td class="nump">7,567,515<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">605,028<span></span>
</td>
<td class="nump">57,533<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Sales | Interest rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">9,616,129<span></span>
</td>
<td class="nump">4,755,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(535,748)<span></span>
</td>
<td class="num">(193,768)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Sales | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">228,141<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(20,188)<span></span>
</td>
<td class="num">(6,533)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember', window );">Options | Sales | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">10,274,094<span></span>
</td>
<td class="nump">2,836,294<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(409,587)<span></span>
</td>
<td class="num">(62,356)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forward operations | Purchases | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">114,020<span></span>
</td>
<td class="nump">48,911<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">497,987<span></span>
</td>
<td class="nump">1,586,061<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forward operations | Purchases | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">10,372,477<span></span>
</td>
<td class="nump">16,633,033<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">218,019<span></span>
</td>
<td class="nump">1,599,401<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forward operations | Sales | Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">635,522<span></span>
</td>
<td class="nump">1,588,245<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(147,138)<span></span>
</td>
<td class="num">(1,581,169)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember', window );">Forward operations | Sales | In foreign currency</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">14,947,271<span></span>
</td>
<td class="nump">18,036,706<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(358,995)<span></span>
</td>
<td class="num">(1,088,041)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contracts | Currency swaps | Liability position</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">14,288,568<span></span>
</td>
<td class="nump">14,201,872<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(1,618,035)<span></span>
</td>
<td class="num">(6,766,366)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contracts | Interest rate swaps | Liability position</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">31,454,647<span></span>
</td>
<td class="nump">36,746,464<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="num">(11,030,003)<span></span>
</td>
<td class="num">(3,718,282)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contracts | Asset position | Currency swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">6,161,641<span></span>
</td>
<td class="nump">7,276,143<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">1,340,538<span></span>
</td>
<td class="nump">3,645,707<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contracts | Asset position | Interest rate swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DerivativeFinancialInstrumentsAbstract', window );"><strong>Derivative financial instruments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional amounts</a></td>
<td class="nump">56,636,856<span></span>
</td>
<td class="nump">72,297,999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Asset/(liability)</a></td>
<td class="nump">R$ 11,065,095<span></span>
</td>
<td class="nump">R$ 9,799,949<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeFinancialInstrumentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Derivative Financial Instruments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_22_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_FuturesContractMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DerivativeFinancialInstrumentsAxis=bbd_DerivativeFinancialInstrumentsPurchasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsAxis=bbd_DerivativeFinancialInstrumentsPurchasesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OthersAxis=bbd_OthersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OthersAxis=bbd_OthersMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InForeignCurrencyAxis=bbd_InForeignCurrencyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InForeignCurrencyAxis=bbd_InForeignCurrencyMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DerivativeFinancialInstrumentsAxis=bbd_DerivativeFinancialInstrumentsSalesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestRateFuturesAxis=bbd_InterestRateFuturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestRateFuturesAxis=bbd_InterestRateFuturesMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_OptionContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestRatesAxis=bbd_InterestRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestRatesAxis=bbd_InterestRatesMember</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_ForwardContractMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrencySwapsAxis=bbd_CurrencySwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrencySwapsAxis=bbd_CurrencySwapsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LiabilityPositionAxis=bbd_LiabilityPositionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LiabilityPositionAxis=bbd_LiabilityPositionMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestRateSwapsAxis=bbd_InterestRateSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestRateSwapsAxis=bbd_InterestRateSwapsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetPositionAxis=bbd_AssetPositionMember</td>
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<SEQUENCE>202
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828695536">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets and liabilities held for trading (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract', window );"><strong>Financial Assets And Liabilities Held For Trading Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading', window );">held for trading</a></td>
<td class="nump">R$ 801,182<span></span>
</td>
<td class="nump">R$ 6,282,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities', window );">Total assets held for trading pledged as a guarantee of liabilities</a></td>
<td class="nump">5,874,620<span></span>
</td>
<td class="nump">5,846,093<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnrealizedGainslossesOnSecuritiesAndTradingSecurities', window );">Unrealized gains/(losses) on securities and trading securities</a></td>
<td class="num">(4,745,888)<span></span>
</td>
<td class="num">(9,404,052)<span></span>
</td>
<td class="nump">R$ 7,425,562<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetVariationInUnrealizedGainslossesFromSecuritiesAndTradingSecurities', window );">Net variation in unrealized gains/(losses) from securities and trading securities</a></td>
<td class="num">R$ (4,658,164)<span></span>
</td>
<td class="num">R$ (1,978,490)<span></span>
</td>
<td class="num">R$ (8,303,360)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Assets held for trading pledged as a guarantee of liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetsHeldForTradingPledgedAsGuaranteeOfLiabilities</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets and liabilities held for trading (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAndLiabilitiesHeldForTradingDetailsTextAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments provided as collateral and classified as "held for trading"</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetVariationInUnrealizedGainslossesFromSecuritiesAndTradingSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net variation in unrealized gains/(losses) from securities and trading securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetVariationInUnrealizedGainslossesFromSecuritiesAndTradingSecurities</td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UnrealizedGainslossesOnSecuritiesAndTradingSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrealized gains/(losses) on securities and trading securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UnrealizedGainslossesOnSecuritiesAndTradingSecurities</td>
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<td>na</td>
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<td>instant</td>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>203
<FILENAME>R164.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831071024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets available for sale (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">R$ 103,281,758<span></span>
</td>
<td class="nump">R$ 59,198,028<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">39,978,630<span></span>
</td>
<td class="nump">42,142,708<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">1,183,853<span></span>
</td>
<td class="nump">1,559,043<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">728,127<span></span>
</td>
<td class="nump">401,214<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">3,202,547<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">11,037,807<span></span>
</td>
<td class="nump">9,817,561<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">159,412,722<span></span>
</td>
<td class="nump">113,118,554<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">101,822,760<span></span>
</td>
<td class="nump">58,484,065<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">40,875,928<span></span>
</td>
<td class="nump">43,821,686<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">1,251,066<span></span>
</td>
<td class="nump">1,626,211<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">719,494<span></span>
</td>
<td class="nump">395,626<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">3,210,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">11,302,834<span></span>
</td>
<td class="nump">9,966,872<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">159,182,636<span></span>
</td>
<td class="nump">114,294,460<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember', window );">Gross unrealized gains</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">1,881,077<span></span>
</td>
<td class="nump">1,323,156<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">836,715<span></span>
</td>
<td class="nump">1,011,275<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="nump">169,142<span></span>
</td>
<td class="nump">121,745<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">27,326<span></span>
</td>
<td class="nump">7,319<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="nump">175<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="nump">620,896<span></span>
</td>
<td class="nump">389,291<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="nump">3,535,331<span></span>
</td>
<td class="nump">2,852,786<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember', window );">Gross unrealized losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract', window );"><strong>Financial assets available for sale</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="num">(422,079)<span></span>
</td>
<td class="num">(609,193)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="num">(1,734,013)<span></span>
</td>
<td class="num">(2,690,253)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="num">(236,355)<span></span>
</td>
<td class="num">(188,913)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="num">(18,693)<span></span>
</td>
<td class="num">(1,731)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities', window );">Foreign governments securities</a></td>
<td class="num">(8,182)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks', window );">Marketable equity securities and other stocks</a></td>
<td class="num">(885,923)<span></span>
</td>
<td class="num">(538,602)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Balance on</a></td>
<td class="num">R$ (3,305,245)<span></span>
</td>
<td class="num">R$ (4,028,692)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Bank debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBankDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Corporate debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueCorporateDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Foreign governments securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueForeignGovernmentsSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Fair Value - Marketable equity securities and other stocks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleFairValueMarketableEquitySecuritiesAndOtherStocks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AvailableforsaleFinancialAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AvailableforsaleFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtCostMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>204
<FILENAME>R165.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890529984">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets available for sale (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">R$ 159,412,722<span></span>
</td>
<td class="nump">R$ 113,118,554<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Due within one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">31,167,067<span></span>
</td>
<td class="nump">11,905,872<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">From 1 to 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">83,816,085<span></span>
</td>
<td class="nump">60,251,675<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember', window );">From 5 to 10 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">16,363,350<span></span>
</td>
<td class="nump">18,994,970<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTenYearsMember', window );">Over 10 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">17,028,413<span></span>
</td>
<td class="nump">12,148,476<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember', window );">No stated maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">11,037,807<span></span>
</td>
<td class="nump">9,817,561<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">159,182,636<span></span>
</td>
<td class="nump">114,294,460<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost | Due within one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">31,635,369<span></span>
</td>
<td class="nump">12,690,168<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost | From 1 to 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">83,579,399<span></span>
</td>
<td class="nump">60,071,806<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost | From 5 to 10 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">16,004,079<span></span>
</td>
<td class="nump">19,677,065<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost | Over 10 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">16,660,955<span></span>
</td>
<td class="nump">11,888,549<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtCostMember', window );">Amortized cost | No stated maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAvailableforsale', window );">Financial assets available for sale</a></td>
<td class="nump">R$ 11,302,834<span></span>
</td>
<td class="nump">R$ 9,966,872<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale - Maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSaleMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAvailableforsale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_d&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAvailableforsale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsAndNotLaterThanTenYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTenYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTenYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=bbd_FinancialAssetsAvailableForSaleNoStatedMaturityMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtCostMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>205
<FILENAME>R166.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830506752">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Financial assets available for sale (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract', window );"><strong>Financial Assets Available For Sale Details Text [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale', window );">Financial instruments pledged as collateral and classified as available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 59,482,796<span></span>
</td>
<td class="nump">R$ 64,275,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities', window );">Financial assets available for sale pledged as a guarantee for liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,391,259<span></span>
</td>
<td class="nump">5,517,516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses', window );">Net gains/(losses) on financial instruments classified as available for sale. - impairment losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,729,039<span></span>
</td>
<td class="nump">R$ 2,106,107<span></span>
</td>
<td class="nump">R$ 424,522<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$ 557,974 thousand (2016 - R$ 1,443,642 thousand); and</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSaleDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets available for sale pledged as a guarantee for liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsAvailableForSalePledgedAsGuaranteeForLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments pledged as collateral and classified as available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net gains/(losses) on financial instruments classified as available for sale. - impairment losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetGainslossesOnFinancialInstrumentsClassifiedAsAvailableForSaleImpairmentLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>206
<FILENAME>R167.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839237840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Investments held to maturity (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturitySecuritiesAbstract', window );"><strong>Securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">R$ 26,738,940<span></span>
</td>
<td class="nump">R$ 30,241,947<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">12,259,564<span></span>
</td>
<td class="nump">12,739,187<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">7,614<span></span>
</td>
<td class="nump">20,894<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="nump">43,002,028<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember', window );">Gross unrealized gains</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturitySecuritiesAbstract', window );"><strong>Securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">2,442,844<span></span>
</td>
<td class="nump">2,918,273<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">126,092<span></span>
</td>
<td class="nump">28,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">878<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="nump">2,568,936<span></span>
</td>
<td class="nump">2,947,901<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember', window );">Gross unrealized losses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturitySecuritiesAbstract', window );"><strong>Securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="num">(6,489)<span></span>
</td>
<td class="num">(306,566)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="num">(421,874)<span></span>
</td>
<td class="num">(1,388,614)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="num">(420)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="num">(428,783)<span></span>
</td>
<td class="num">(1,695,180)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturitySecuritiesAbstract', window );"><strong>Securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="nump">29,175,295<span></span>
</td>
<td class="nump">32,853,654<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="nump">11,963,782<span></span>
</td>
<td class="nump">11,379,323<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="nump">7,194<span></span>
</td>
<td class="nump">21,772<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="nump">R$ 41,146,271<span></span>
</td>
<td class="nump">R$ 44,254,749<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityCorporateDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Corporate debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityCorporateDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturitySecuritiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturitySecuritiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=bbd_GrossUnrealizedGainsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=bbd_GrossUnrealizedLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>207
<FILENAME>R168.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828570448">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Investments held to maturity (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityDueWithinOneYear', window );">Due within one year</a></td>
<td class="nump">R$ 29,412<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityFrom1To5Years', window );">From 1 to 5 years</a></td>
<td class="nump">10,284,940<span></span>
</td>
<td class="nump">12,932,440<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityFrom5To10Years', window );">From 5 to 10 years</a></td>
<td class="nump">1,933,866<span></span>
</td>
<td class="nump">3,068,980<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityOver10Years', window );">Over 10 years</a></td>
<td class="nump">26,757,900<span></span>
</td>
<td class="nump">27,000,608<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="nump">39,006,118<span></span>
</td>
<td class="nump">43,002,028<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember', window );">Fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityMaturityAbstract', window );"><strong>Maturity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityDueWithinOneYear', window );">Due within one year</a></td>
<td class="nump">28,998<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityFrom1To5Years', window );">From 1 to 5 years</a></td>
<td class="nump">11,070,179<span></span>
</td>
<td class="nump">13,133,746<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityFrom5To10Years', window );">From 5 to 10 years</a></td>
<td class="nump">1,840,428<span></span>
</td>
<td class="nump">2,905,497<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityOver10Years', window );">Over 10 years</a></td>
<td class="nump">28,206,666<span></span>
</td>
<td class="nump">28,215,506<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_HeldtomaturityInvestments', window );">Total</a></td>
<td class="nump">R$ 41,146,271<span></span>
</td>
<td class="nump">R$ 44,254,749<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityDueWithinOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Due within one year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityDueWithinOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityFrom1To5Years">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - From 1 to 5 years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityFrom1To5Years</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityFrom5To10Years">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - From 5 to 10 years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityFrom5To10Years</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityOver10Years">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity - Over 10 years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityOver10Years</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_HeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-derivative financial assets with fixed or determinable payments and fixed maturity that an entity has the positive intention and ability to hold to maturity other than: (a) those that the entity upon initial recognition designates as at fair value through profit or loss; (b) those that the entity designates as available for sale; and (c) those that meet the definition of loans and receivables. An entity shall not classify any financial assets as held to maturity if the entity has, during the current financial year or during the two preceding financial years, sold or reclassified more than an insignificant amount of held-to-maturity investments before maturity (more than insignificant in relation to the total amount of held-to-maturity investments) other than sales or reclassifications that: (i) are so close to maturity or the financial asset&#8217;s call date (for example, less than three months before maturity) that changes in the market rate of interest would not have a significant effect on the financial asset&#8217;s fair value; (ii) occur after the entity has collected substantially all of the financial asset&#8217;s original principal through scheduled payments or prepayments; or (iii) are attributable to an isolated event that is beyond the entity&#8217;s control, is non-recurring and could not have been reasonably anticipated by the entity. [Refer: Derivative financial assets; Held-to-maturity investments; Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_HeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MeasurementAxis=ifrs-full_AtFairValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>208
<FILENAME>R169.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830400800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments held to maturity (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityDetailsTextAbstract', window );"><strong>Investments Held To Maturity Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsHeldToMaturity', window );">Financial instruments pledged as collateral and classified as held to maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsHeldToMaturityPledgedAsGuaranteeForLiabilities', window );">Investments held to maturity pledged as a guarantee for liabilities</a></td>
<td class="nump">R$ 2,005<span></span>
</td>
<td class="nump">1,825<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments', window );">Losses on investments held-to-maturity</a></td>
<td class="nump">R$ 54,520<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsHeldToMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments pledged as collateral and classified as held to maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsHeldToMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsHeldToMaturityPledgedAsGuaranteeForLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments held to maturity pledged as a guarantee for liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsHeldToMaturityPledgedAsGuaranteeForLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_20_a_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>209
<FILENAME>R170.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836600864">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Financial assets pledged as collateral (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetsFinancialPledgedAsCollateralAbstract', window );"><strong>Assets Financial Pledged As Collateral [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading', window );">Held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 801,182<span></span>
</td>
<td class="nump">R$ 6,282,141<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_HeldForTradingBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">801,182<span></span>
</td>
<td class="nump">6,282,141<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale', window );">Available for sale</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">59,482,796<span></span>
</td>
<td class="nump">64,275,415<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AvailableForSaleBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">53,039,884<span></span>
</td>
<td class="nump">55,530,423<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AvailableForSaleCorporateDebtSecurities', window );">Corporate debt securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">825,287<span></span>
</td>
<td class="nump">3,899,878<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AvailableForSaleBankDebtSecurities', window );">Bank debt securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,904,070<span></span>
</td>
<td class="nump">4,742,273<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AvailableForSaleBrazilianSovereignBonds', window );">Brazilian sovereign bonds</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">713,555<span></span>
</td>
<td class="nump">102,841<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralHeldToMaturity', window );">Held to maturity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">431<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralHeldToMaturityBrazilianGovernmentSecurities', window );">Brazilian government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">431<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Interbank investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">123,691,195<span></span>
</td>
<td class="nump">84,728,590<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateral', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 183,975,173<span></span>
</td>
<td class="nump">R$ 155,286,577<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, includes unrealized gains of R$ 3,246,351 thousand (2016 - R$ 2,052,366 thousand) and unrealized losses of R$ 557,974 thousand (2016 - R$ 1,443,642 thousand); and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Refers to reverse repurchase agreements in which the underlying security has subsequently been sold in a separate repurchase agreement.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetsFinancialPledgedAsCollateralAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetsFinancialPledgedAsCollateralAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AvailableForSaleBankDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Available for sale - Bank debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AvailableForSaleBankDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AvailableForSaleBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Available for sale - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AvailableForSaleBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AvailableForSaleBrazilianSovereignBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Available for sale - Brazilian sovereign bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AvailableForSaleBrazilianSovereignBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AvailableForSaleCorporateDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Available for sale - Corporate debt securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AvailableForSaleCorporateDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateral">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateral</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralHeldToMaturity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Held to maturity</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralHeldToMaturity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralHeldToMaturityBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Held to maturity - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralHeldToMaturityBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralLoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments pledged as collateral and classified as available for sale</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments provided as collateral and classified as "held for trading"</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsProvidedAsCollateralAndClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_HeldForTradingBrazilianGovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Held for trading - Brazilian government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_HeldForTradingBrazilianGovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial assets that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialAssetsSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>210
<FILENAME>R171.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6875088208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Financial assets pledged as collateral (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract', window );"><strong>Financial assets pledged as collateral (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedGains', window );">Financial instruments pledged as collateral and classified as available for sale - Unrealized gains</a></td>
<td class="nump">R$ 3,246,351<span></span>
</td>
<td class="nump">R$ 2,052,366<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedLosses', window );">Financial instruments pledged as collateral and classified as available for sale - Unrealized losses</a></td>
<td class="nump">557,974<span></span>
</td>
<td class="nump">1,443,642<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralAxis=bbd_CollateralMayBeRepledgedMember', window );">May be repledged</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract', window );"><strong>Financial assets pledged as collateral (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied', window );">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</a></td>
<td class="nump">178,964,158<span></span>
</td>
<td class="nump">147,673,043<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralAxis=bbd_CollateralSoldOrRepledgedMember', window );">Sold or repledged</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract', window );"><strong>Financial assets pledged as collateral (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied', window );">Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</a></td>
<td class="nump">R$ 5,011,015<span></span>
</td>
<td class="nump">R$ 7,613,534<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Collateral is a conditional commitment to ensure that the contractual clauses of a repurchase agreements are complied</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CollateralIsConditionalCommitmentToEnsureThatTheContractualClausesOfRepurchaseAgreementsAreComplied</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial assets pledged as collateral (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialAssetsPledgedAsCollateralDetailsTextAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedGains">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments pledged as collateral and classified as available for sale - Unrealized gains</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedGains</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial instruments pledged as collateral and classified as available for sale - Unrealized losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstrumentsPledgedAsCollateralAndClassifiedAsAvailableForSaleUnrealizedLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CollateralAxis=bbd_CollateralMayBeRepledgedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CollateralAxis=bbd_CollateralMayBeRepledgedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CollateralAxis=bbd_CollateralSoldOrRepledgedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CollateralAxis=bbd_CollateralSoldOrRepledgedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>211
<FILENAME>R172.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827702880">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Loans and advances to banks (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksAbstract', window );"><strong>Loans and advances to banks [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksRepurchaseAgreements', window );">Repurchase agreements</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 21,045,591<span></span>
</td>
<td class="nump">R$ 85,178,146<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CorporateLoans', window );">Loans to financial institutions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,207,614<span></span>
</td>
<td class="nump">9,667,388<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToBanksImpairmentOfLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,481)<span></span>
</td>
<td class="num">(7,398)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToBanks', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 32,247,724<span></span>
</td>
<td class="nump">R$ 94,838,136<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToBanksAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to banks [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToBanksImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to banks - Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToBanksRepurchaseAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to banks - Repurchase agreements</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToBanksRepurchaseAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CorporateLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of corporate loans made by the entity. [Refer: Loans to corporate entities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CorporateLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>212
<FILENAME>R173.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6839240688">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Loans and advances to customers (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersAbstract', window );"><strong>Loans and advances to customers [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersWorkingCapital', window );">Working capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 52,700,584<span></span>
</td>
<td class="nump">R$ 60,390,890<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ConsumerLoans', window );">Personal credit</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">60,570,146<span></span>
</td>
<td class="nump">56,255,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersHousingLoans', window );">Housing loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">59,963,375<span></span>
</td>
<td class="nump">60,458,038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersFinancingAndExport', window );">Financing and export</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">38,272,982<span></span>
</td>
<td class="nump">41,983,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOnlendingBndesfiname', window );">Onlending BNDES/Finame</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30,655,666<span></span>
</td>
<td class="nump">35,816,560<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersCreditCard', window );">Credit card</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">37,568,984<span></span>
</td>
<td class="nump">37,407,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit', window );">Vehicle loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,741,298<span></span>
</td>
<td class="nump">23,699,948<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersRuralLoans', window );">Rural loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,642,478<span></span>
</td>
<td class="nump">14,422,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersImport', window );">Import</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,318,042<span></span>
</td>
<td class="nump">7,140,346<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOverdraftForCorporates', window );">Overdraft for corporates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,587,239<span></span>
</td>
<td class="nump">8,583,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums', window );">Receivable insurance premiums</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,301,472<span></span>
</td>
<td class="nump">5,517,932<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOverdraftForIndividuals', window );">Overdraft for individuals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,582,020<span></span>
</td>
<td class="nump">4,209,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersLeasing', window );">Leasing</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,249,859<span></span>
</td>
<td class="nump">2,738,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33,659,520<span></span>
</td>
<td class="nump">33,459,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers', window );">Total Portfolio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">373,813,665<span></span>
</td>
<td class="nump">392,083,873<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvances', window );">Impairment of loans and advances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(27,055,566)<span></span>
</td>
<td class="num">(24,780,839)<span></span>
</td>
<td class="num">R$ (25,455,204)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LoansAndAdvancesToCustomers', window );">Total of net loans and advances to customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 346,758,099<span></span>
</td>
<td class="nump">R$ 367,303,034<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes in 2017 R$ 43,968,511 thousand related to payroll loans (2016 - R$ 38,804,196 thousand).</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Amounts of loans and receivables are presented net of the provision for impairment losses.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers [Abstract].</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersCreditCard">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Credit card</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersCreditCard</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersFinancingAndExport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Financing and export</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersFinancingAndExport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersHousingLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Housing loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersHousingLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersImport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Import</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersImport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersLeasing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Leasing</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersLeasing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOnlendingBndesfiname">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Onlending BNDES/Finame</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOnlendingBndesfiname</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOverdraftForCorporates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Overdraft for corporates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOverdraftForCorporates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersOverdraftForIndividuals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Overdraft for individuals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersOverdraftForIndividuals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Receivable insurance premiums</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersReceivableInsurancePremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersRuralLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Rural loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersRuralLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Vehicles - CDC (Direct consumer credit)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersVehiclesCdcDirectConsumerCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersWorkingCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Working capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersWorkingCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum credit risk exposure of the financial instruments - Loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MaximumCreditRiskExposureOfTheFinancialInstrumentsLoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ConsumerLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of consumer loans made by the entity. [Refer: Loans to consumers [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ConsumerLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LoansAndAdvancesToCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loans and advances the entity has made to customers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LoansAndAdvancesToCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>213
<FILENAME>R174.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861650640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans and advances to customers (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AllowanceForLoansAndAdvancesToCustomersAbstract', window );"><strong>Allowance For Loans And Advances To Customers [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvances', window );">At the beginning of the year</a></td>
<td class="nump">R$ 24,780,839<span></span>
</td>
<td class="nump">R$ 25,455,204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Impairment of loans and advances</a></td>
<td class="nump">16,860,835<span></span>
</td>
<td class="nump">15,350,278<span></span>
</td>
<td class="nump">R$ 14,721,152<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RecoveryOfCreditsChargedoffAsLoss', window );">Recovery of credits charged-off as losses</a></td>
<td class="nump">7,034,857<span></span>
</td>
<td class="nump">5,507,507<span></span>
</td>
<td class="nump">4,144,879<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs', window );">Write-offs</a></td>
<td class="num">(21,620,965)<span></span>
</td>
<td class="num">(21,532,150)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentOfLoansAndAdvances', window );">At the end of the year</a></td>
<td class="nump">R$ 27,055,566<span></span>
</td>
<td class="nump">R$ 24,780,839<span></span>
</td>
<td class="nump">R$ 25,455,204<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AllowanceForLoansAndAdvancesToCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Allowance for loans and advances to customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AllowanceForLoansAndAdvancesToCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Allowance for loans and advances to customers - Write-offs</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AllowanceForLoansAndAdvancesToCustomersWriteoffs</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentOfLoansAndAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentOfLoansAndAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RecoveryOfCreditsChargedoffAsLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment of loans and advances - Recovery of credits charged-off as loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RecoveryOfCreditsChargedoffAsLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss (reversal of impairment loss) recognised in profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>214
<FILENAME>R175.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861648576">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Loans and advances to customers (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract', window );"><strong>Gross Investments In Financial Leases Receivable [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear', window );">Up to one year</a></td>
<td class="nump">R$ 1,118,286<span></span>
</td>
<td class="nump">R$ 1,418,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears', window );">From one to five years</a></td>
<td class="nump">1,082,149<span></span>
</td>
<td class="nump">1,279,347<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears', window );">Over five years</a></td>
<td class="nump">49,424<span></span>
</td>
<td class="nump">40,718<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentLossOnFinanceLeases', window );">Impairment loss on finance leases</a></td>
<td class="num">(146,812)<span></span>
</td>
<td class="num">(186,594)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetInvestmentInFinanceLease', window );">Total</a></td>
<td class="nump">2,103,047<span></span>
</td>
<td class="nump">2,552,017<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetInvestmentsInFinanceLeasesAbstract', window );"><strong>Net investments in finance leases:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetInvestmentsInFinanceLeasesUpToOneYear', window );">Up to one year</a></td>
<td class="nump">1,034,188<span></span>
</td>
<td class="nump">1,300,659<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetInvestmentsInFinanceLeasesFromOneToFiveYears', window );">From one to five years</a></td>
<td class="nump">1,021,089<span></span>
</td>
<td class="nump">1,212,322<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetInvestmentsInFinanceLeasesOverFiveYears', window );">Over five years</a></td>
<td class="nump">R$ 47,770<span></span>
</td>
<td class="nump">R$ 39,036<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross investments in financial leases receivable:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GrossInvestmentsInFinancialLeasesReceivableAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross investments in financial leases receivable - From one to five years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GrossInvestmentsInFinancialLeasesReceivableFromOneToFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross investments in financial leases receivable - Over five years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GrossInvestmentsInFinancialLeasesReceivableOverFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross investments in financial leases receivable - Up to one year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GrossInvestmentsInFinancialLeasesReceivableUpToOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentLossOnFinanceLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment loss on finance leases</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentLossOnFinanceLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetInvestmentsInFinanceLeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investments in finance leases:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetInvestmentsInFinanceLeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetInvestmentsInFinanceLeasesFromOneToFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investments in finance leases - From one to five years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetInvestmentsInFinanceLeasesFromOneToFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetInvestmentsInFinanceLeasesOverFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investments in finance leases - Over five years</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetInvestmentsInFinanceLeasesOverFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetInvestmentsInFinanceLeasesUpToOneYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net investments in finance leases - Up to one year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetInvestmentsInFinanceLeasesUpToOneYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetInvestmentInFinanceLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross investment in the finance lease discounted at the interest rate implicit in the lease. Finance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an underlying asset. Gross investment in the finance lease is the sum of: (a) the lease payments receivable by a lessor under a finance lease; and (b) any unguaranteed residual value accruing to the lessor. Interest rate implicit in the lease is the rate of interest that causes the present value of (a) the lease payments and (b) the unguaranteed residual value to equal to the sum of (i) the fair value of the underlying asset and (ii) the initial direct costs of the lessor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2019-01-01<br> -Name IFRS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 94<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_94&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetInvestmentInFinanceLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>215
<FILENAME>R176.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828652688">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Loans and advances to customers (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersDetailsTextAbstract', window );"><strong>Loans And Advances To Customers Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans', window );">Personal credit - payroll loans</a></td>
<td class="nump">R$ 43,968,511<span></span>
</td>
<td class="nump">R$ 38,804,196<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loans and advances to customers - Personal credit - Related to payroll loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LoansAndAdvancesToCustomersPersonalCreditRelatedToPayrollLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>216
<FILENAME>R177.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867216128">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Non-current assets held for sale (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetsNotForOwnUseAbstract', window );"><strong>Assets Not For Own Use [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LandAndBuildings', window );">Real estate</a></td>
<td class="nump">R$ 1,250,380<span></span>
</td>
<td class="nump">R$ 1,262,126<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MotorVehicles', window );">Vehicles and related</a></td>
<td class="nump">262,774<span></span>
</td>
<td class="nump">308,357<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Machinery', window );">Machinery and equipment</a></td>
<td class="nump">2,037<span></span>
</td>
<td class="nump">5,529<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NoncurrentAssetsHeldForSaleOthers', window );">Other</a></td>
<td class="nump">5,782<span></span>
</td>
<td class="nump">2,954<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale', window );">Total</a></td>
<td class="nump">R$ 1,520,973<span></span>
</td>
<td class="nump">R$ 1,578,966<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetsNotForOwnUseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Assets not for own use</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetsNotForOwnUseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NoncurrentAssetsHeldForSaleOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-current assets held for sale - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NoncurrentAssetsHeldForSaleOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LandAndBuildings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing land and depreciable buildings and similar structures for use in operations. [Refer: Buildings; Land; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LandAndBuildings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Machinery">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing long-lived, depreciable machinery used in operations. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_37_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Machinery</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MotorVehicles">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of property, plant and equipment representing self-propelled ground vehicles used in the entity's operations. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_37_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MotorVehicles</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets or disposal groups classified as held for sale. [Refer: Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 5<br> -IssueDate 2017-01-01<br> -Paragraph 38<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=5&amp;date=2017-03-01&amp;anchor=para_38&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R178.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830426912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Non-current assets held for sale (Details Text)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NoncurrentAssetsHeldForSaleDetailsTextAbstract', window );"><strong>Noncurrent Assets Held For Sale Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NonoperatingAssetsHeldForSaleInAuctions', window );">The properties or other non-current assets received in total or partial settlement of the payment obligations of debtors</a></td>
<td class="text">one year<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NoncurrentAssetsHeldForSaleDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-current assets held for sale (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NoncurrentAssetsHeldForSaleDetailsTextAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NonoperatingAssetsHeldForSaleInAuctions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non-operating assets held for sale in auctions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NonoperatingAssetsHeldForSaleInAuctions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>218
<FILENAME>R179.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871732016">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Investments in associates and joint ventures (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 8,257,384<span></span>
</td>
<td class="nump">R$ 7,002,778<span></span>
</td>
<td class="nump">R$ 5,815,325<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,718,411<span></span>
</td>
<td class="nump">1,699,725<span></span>
</td>
<td class="nump">1,528,051<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93,946,146<span></span>
</td>
<td class="nump">33,277,701<span></span>
</td>
<td class="nump">24,135,254<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26,992,289<span></span>
</td>
<td class="nump">22,391,305<span></span>
</td>
<td class="nump">14,412,915<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">89,194,631<span></span>
</td>
<td class="nump">34,948,570<span></span>
</td>
<td class="nump">17,041,545<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,720,340<span></span>
</td>
<td class="nump">2,417,942<span></span>
</td>
<td class="nump">11,143,879<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,421,168<span></span>
</td>
<td class="nump">7,908,280<span></span>
</td>
<td class="nump">14,787,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,014,365<span></span>
</td>
<td class="nump">5,656,103<span></span>
</td>
<td class="nump">4,866,890<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesEloParticipacoesSAMember', window );">Elo Participa&#231;&#245;es S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">978,195<span></span>
</td>
<td class="nump">849,355<span></span>
</td>
<td class="nump">686,951<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">162,070<span></span>
</td>
<td class="nump">198,457<span></span>
</td>
<td class="nump">243,073<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">420,804<span></span>
</td>
<td class="nump">352,179<span></span>
</td>
<td class="nump">223,332<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,776,837<span></span>
</td>
<td class="nump">1,596,527<span></span>
</td>
<td class="nump">1,438,988<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">96,763<span></span>
</td>
<td class="nump">107,627<span></span>
</td>
<td class="nump">144,169<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,967<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">18,708<span></span>
</td>
<td class="nump">18,879<span></span>
</td>
<td class="nump">14,669<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 324,075<span></span>
</td>
<td class="nump">R$ 396,835<span></span>
</td>
<td class="nump">R$ 486,049<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfJointVenture', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">Elo Participa&#231;&#245;es S.A.<span></span>
</td>
<td class="text">Elo Participa&#231;&#245;es S.A.<span></span>
</td>
<td class="text">Elo Participa&#231;&#245;es S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.01%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.01%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
<td class="nump">50.01%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesCrediareSACreditoFinanciamentoInvestimentoMember', window );">Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 68,231<span></span>
</td>
<td class="nump">R$ 64,174<span></span>
</td>
<td class="nump">R$ 65,030<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,393<span></span>
</td>
<td class="nump">8,721<span></span>
</td>
<td class="nump">10,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">339,236<span></span>
</td>
<td class="nump">443,978<span></span>
</td>
<td class="nump">439,594<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">119,406<span></span>
</td>
<td class="nump">3,883<span></span>
</td>
<td class="nump">4,301<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">324,764<span></span>
</td>
<td class="nump">317,298<span></span>
</td>
<td class="nump">312,036<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">161,107<span></span>
</td>
<td class="nump">164,026<span></span>
</td>
<td class="nump">158,124<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 24,786<span></span>
</td>
<td class="nump">R$ 17,442<span></span>
</td>
<td class="nump">R$ 20,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfJointVenture', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento<span></span>
</td>
<td class="text">Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento<span></span>
</td>
<td class="text">Crediare S.A. &#8211; Cr&#233;dito, Financiamento e Investimento<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesMPOProcessadoraDePagamentosMoveisSAMember', window );">MPO - Processadora de Pagamentos M&#243;veis S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 3<span></span>
</td>
<td class="nump">R$ 6,551<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(39)<span></span>
</td>
<td class="num">(49)<span></span>
</td>
<td class="nump">716<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,198<span></span>
</td>
<td class="nump">3,538<span></span>
</td>
<td class="nump">380,801<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,612<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">11,362<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2<span></span>
</td>
<td class="nump">3,532<span></span>
</td>
<td class="nump">379,061<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,881<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">227<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="nump">313,065<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (78)<span></span>
</td>
<td class="num">R$ (98)<span></span>
</td>
<td class="nump">R$ 1,432<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfJointVenture', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">MPO - Processadora de Pagamentos M&#243;veis S.A.<span></span>
</td>
<td class="text">MPO - Processadora de Pagamentos M&#243;veis S.A.<span></span>
</td>
<td class="text">MPO - Processadora de Pagamentos M&#243;veis S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesLeaderSAAdmDeCartoesDeCreditoMember', window );">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 52<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (23,227)<span></span>
</td>
<td class="num">(1,013)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,920<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">278<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,095<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,790<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (2,026)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfJointVenture', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito<span></span>
</td>
<td class="text">Leader S.A. Adm. de Cart&#245;es de Cr&#233;dito<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesTotalInvestmentsInJointVenturesMember', window );">Total investments in joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,046,426<span></span>
</td>
<td class="nump">R$ 913,532<span></span>
</td>
<td class="nump">R$ 758,584<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">174,424<span></span>
</td>
<td class="nump">183,902<span></span>
</td>
<td class="nump">253,176<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">762,238<span></span>
</td>
<td class="nump">799,695<span></span>
</td>
<td class="nump">1,046,647<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,897,855<span></span>
</td>
<td class="nump">1,600,410<span></span>
</td>
<td class="nump">1,454,929<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">421,529<span></span>
</td>
<td class="nump">428,457<span></span>
</td>
<td class="nump">838,361<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,848<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">180,042<span></span>
</td>
<td class="nump">183,161<span></span>
</td>
<td class="nump">487,648<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 348,783<span></span>
</td>
<td class="nump">R$ 414,179<span></span>
</td>
<td class="nump">R$ 506,255<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCieloSAMember', window );">Cielo S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="text">Cielo S.A.<span></span>
</td>
<td class="text">Cielo S.A.<span></span>
</td>
<td class="text">Cielo S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30.06%<span></span>
</td>
<td class="nump">30.06%<span></span>
</td>
<td class="nump">30.06%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30.06%<span></span>
</td>
<td class="nump">30.06%<span></span>
</td>
<td class="nump">30.06%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 4,832,660<span></span>
</td>
<td class="nump">R$ 4,108,743<span></span>
</td>
<td class="nump">R$ 3,302,071<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,219,202<span></span>
</td>
<td class="nump">1,204,520<span></span>
</td>
<td class="nump">1,043,743<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">76,403,596<span></span>
</td>
<td class="nump">13,699,378<span></span>
</td>
<td class="nump">13,755,540<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,151,540<span></span>
</td>
<td class="nump">10,654,621<span></span>
</td>
<td class="nump">10,806,140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">71,020,292<span></span>
</td>
<td class="nump">15,004,712<span></span>
</td>
<td class="nump">8,199,287<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,833,491<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">9,696,767<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,561,394<span></span>
</td>
<td class="nump">392,167<span></span>
</td>
<td class="nump">239,386<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 4,056,077<span></span>
</td>
<td class="nump">R$ 4,007,233<span></span>
</td>
<td class="nump">R$ 3,472,355<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIRBBrasilRessegurosSAMember', window );">IRB - Brasil Resseguros S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[6]</sup></td>
<td class="text">IRB - Brasil Resseguros S.A.<span></span>
</td>
<td class="text">IRB - Brasil Resseguros S.A.<span></span>
</td>
<td class="text">IRB - Brasil Resseguros S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15.23%<span></span>
</td>
<td class="nump">20.51%<span></span>
</td>
<td class="nump">20.51%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15.23%<span></span>
</td>
<td class="nump">20.51%<span></span>
</td>
<td class="nump">20.51%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 543,025<span></span>
</td>
<td class="nump">R$ 662,460<span></span>
</td>
<td class="nump">R$ 658,949<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">182,432<span></span>
</td>
<td class="nump">132,668<span></span>
</td>
<td class="nump">138,165<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,512,491<span></span>
</td>
<td class="nump">8,484,793<span></span>
</td>
<td class="nump">8,922<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,124,173<span></span>
</td>
<td class="nump">5,828,133<span></span>
</td>
<td class="nump">5,768<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,138,711<span></span>
</td>
<td class="nump">10,238,221<span></span>
</td>
<td class="nump">10,639<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">947,514<span></span>
</td>
<td class="nump">844,876<span></span>
</td>
<td class="nump">785<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,550,438<span></span>
</td>
<td class="nump">3,185<span></span>
</td>
<td class="nump">3,144<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,197,846<span></span>
</td>
<td class="nump">R$ 646,823<span></span>
</td>
<td class="nump">R$ 673,650<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFleurySaMember', window );">Fleury S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[7]</sup></td>
<td class="text">Fleury S.A.<span></span>
</td>
<td class="text">Fleury S.A.<span></span>
</td>
<td class="text">Fleury S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16.28%<span></span>
</td>
<td class="nump">16.39%<span></span>
</td>
<td class="nump">16.39%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16.28%<span></span>
</td>
<td class="nump">16.39%<span></span>
</td>
<td class="nump">16.39%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 692,380<span></span>
</td>
<td class="nump">R$ 651,906<span></span>
</td>
<td class="nump">R$ 512,642<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46,791<span></span>
</td>
<td class="nump">17,506<span></span>
</td>
<td class="nump">6,262<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,389,026<span></span>
</td>
<td class="nump">1,343,162<span></span>
</td>
<td class="nump">1,124,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,224,500<span></span>
</td>
<td class="nump">2,021,981<span></span>
</td>
<td class="nump">268,829<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">615,510<span></span>
</td>
<td class="nump">429,411<span></span>
</td>
<td class="nump">299,033<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,263,331<span></span>
</td>
<td class="nump">1,166,607<span></span>
</td>
<td class="nump">1,408,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,609,717<span></span>
</td>
<td class="nump">2,045,898<span></span>
</td>
<td class="nump">1,845<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 287,414<span></span>
</td>
<td class="nump">R$ 106,829<span></span>
</td>
<td class="nump">R$ 38,206<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesAquariusParticipacoesSAMember', window );">Aquarius Participa&#231;&#245;es S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[8]</sup></td>
<td class="text">Aquarius Participa&#231;&#245;es S.A.<span></span>
</td>
<td class="text">Aquarius Participa&#231;&#245;es S.A.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 263,630<span></span>
</td>
<td class="nump">R$ 263,632<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">116,070<span></span>
</td>
<td class="nump">73,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">242,617<span></span>
</td>
<td class="nump">150,233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">532,707<span></span>
</td>
<td class="nump">538,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">237,305<span></span>
</td>
<td class="nump">150,474<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">38<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 236,878<span></span>
</td>
<td class="nump">R$ 150,286<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFidelityProcessadoraSaMember', window );">Fidelity Processadora S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[8]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Fidelity Processadora S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 254,785<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">68,312<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">450,267<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">402,702<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">332,997<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 139,412<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesHaitongBancoDeInvestimentoDoBrasilSAMember', window );">Haitong Banco de Investimento do Brasil S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Haitong Banco de Investimento do Brasil S.A.<span></span>
</td>
<td class="text">Haitong Banco de Investimento do Brasil S.A.<span></span>
</td>
<td class="text">Haitong Banco de Investimento do Brasil S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 105,649<span></span>
</td>
<td class="nump">R$ 127,922<span></span>
</td>
<td class="nump">R$ 130,248<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(22,637)<span></span>
</td>
<td class="nump">1,596<span></span>
</td>
<td class="num">(5,377)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,588,848<span></span>
</td>
<td class="nump">8,187,596<span></span>
</td>
<td class="nump">7,227,947<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,283,453<span></span>
</td>
<td class="nump">493,325<span></span>
</td>
<td class="nump">563,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,565,394<span></span>
</td>
<td class="nump">8,041,309<span></span>
</td>
<td class="nump">7,140,656<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">726,468<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,432,770<span></span>
</td>
<td class="nump">4,243,442<span></span>
</td>
<td class="nump">13,834,551<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (113,185)<span></span>
</td>
<td class="nump">R$ 7,980<span></span>
</td>
<td class="num">R$ (26,886)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCiaBrasileiraDeGestaoServicosSAMember', window );">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.<span></span>
</td>
<td class="text">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.<span></span>
</td>
<td class="text">Cia. Brasileira de Gest&#227;o e Servi&#231;os S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">41.85%<span></span>
</td>
<td class="nump">41.85%<span></span>
</td>
<td class="nump">41.85%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">41.85%<span></span>
</td>
<td class="nump">41.85%<span></span>
</td>
<td class="nump">41.85%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 118,781<span></span>
</td>
<td class="nump">R$ 102,251<span></span>
</td>
<td class="nump">R$ 83,735<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,530<span></span>
</td>
<td class="nump">18,517<span></span>
</td>
<td class="nump">17,660<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285,871<span></span>
</td>
<td class="nump">247,475<span></span>
</td>
<td class="nump">203,030<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">118,394<span></span>
</td>
<td class="nump">109,390<span></span>
</td>
<td class="nump">93,487<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33,305<span></span>
</td>
<td class="nump">44,890<span></span>
</td>
<td class="nump">35,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,320<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">61,185<span></span>
</td>
<td class="nump">22,642<span></span>
</td>
<td class="nump">13,247<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 39,498<span></span>
</td>
<td class="nump">R$ 44,246<span></span>
</td>
<td class="nump">R$ 42,197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesTecnologiaBancariaSAMember', window );">Tecnologia Bancaria S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Tecnologia Banc&#225;ria S.A.<span></span>
</td>
<td class="text">Tecnologia Banc&#225;ria S.A.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24.32%<span></span>
</td>
<td class="nump">24.32%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24.32%<span></span>
</td>
<td class="nump">24.32%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 108,752<span></span>
</td>
<td class="nump">R$ 98,543<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,209<span></span>
</td>
<td class="nump">71,232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">242,480<span></span>
</td>
<td class="nump">193,546<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">75,702<span></span>
</td>
<td class="nump">1,117,398<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">590,872<span></span>
</td>
<td class="nump">499,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">496,090<span></span>
</td>
<td class="nump">406,459<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,534,235<span></span>
</td>
<td class="nump">686,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 41,973<span></span>
</td>
<td class="nump">R$ 292,862<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesNCRBrasilIndustriaDeEquipamentosParaAutomacaoSAMember', window );">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[9]</sup></td>
<td class="text">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A.<span></span>
</td>
<td class="text">NCR Brasil Ind&#250;stria de Equipamentos para Automa&#231;&#227;o S.A.<span></span>
</td>
<td class="text">NCR Brasil S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 46,039<span></span>
</td>
<td class="nump">R$ 73,789<span></span>
</td>
<td class="nump">R$ 80,357<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,108<span></span>
</td>
<td class="num">(7,024)<span></span>
</td>
<td class="nump">7,101<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">221,809<span></span>
</td>
<td class="nump">171,823<span></span>
</td>
<td class="nump">206,315<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,788<span></span>
</td>
<td class="nump">27,780<span></span>
</td>
<td class="nump">27,146<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">141,520<span></span>
</td>
<td class="nump">111,755<span></span>
</td>
<td class="nump">134,533<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,270<span></span>
</td>
<td class="nump">330,985<span></span>
</td>
<td class="nump">71,177<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 8,384<span></span>
</td>
<td class="num">R$ (14,335)<span></span>
</td>
<td class="nump">R$ 14,492<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesSwissReCorporateSolutionsBrasilMember', window );">Swiss Re Corporate Solutions Brasil</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Swiss Re Corporate Solutions Brasil<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 463,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(26,437)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,178,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,511,924<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,411,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">437,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">490,079<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (66,093)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesGestoraDeIntelignciaDeCrditoSaMember', window );">Gestora de Intelig&#234;ncia de Cr&#233;dito S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">Gestora de Intelig&#234;ncia de Cr&#233;dito S.A.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 29,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,642)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">118,961<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">43,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,594<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (23,210)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesEmpresaBrasileiraDeSoldaEletricaSAMember', window );">Empresa Brasileira de Solda El&#233;trica S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Empresa Brasileira de Solda El&#233;trica S.A.<span></span>
</td>
<td class="text">Empresa Brasileira de Solda El&#233;trica S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 33,954<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,168<span></span>
</td>
<td class="num">(5,769)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">101,151<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48,161<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47,519<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,499<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,874<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (11,774)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIntegritasParticipacoesSaMember', window );">Integritas Participa&#231;&#245;es S.A.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[10]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Integritas Participa&#231;&#245;es S.A.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,778<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,647<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">741,803<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,534<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,066<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,983<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesOtherMember', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NameOfAssociate', window );">Company</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInAssociate', window );">Equity interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate', window );">Shareholding interest with voting rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesTotalInvestmentsInAssociatesMember', window );">Total investments in associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract', window );"><strong>Breakdown of investments in associates and joint ventures</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Investment book value</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,210,958<span></span>
</td>
<td class="nump">6,089,246<span></span>
</td>
<td class="nump">5,056,741<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,543,987<span></span>
</td>
<td class="nump">1,515,823<span></span>
</td>
<td class="nump">1,274,875<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentAssets', window );">Associates and joint ventures current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93,183,908<span></span>
</td>
<td class="nump">32,478,006<span></span>
</td>
<td class="nump">23,088,607<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentAssets', window );">Associates and joint ventures non - current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">25,094,434<span></span>
</td>
<td class="nump">20,790,895<span></span>
</td>
<td class="nump">12,957,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesCurrentLiabilities', window );">Associates and joint ventures current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">88,773,103<span></span>
</td>
<td class="nump">34,520,113<span></span>
</td>
<td class="nump">16,203,184<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities', window );">Associates and joint ventures non - current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,712,492<span></span>
</td>
<td class="nump">2,417,942<span></span>
</td>
<td class="nump">11,143,864<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesRevenue', window );">Revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,241,126<span></span>
</td>
<td class="nump">7,725,119<span></span>
</td>
<td class="nump">14,299,598<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear', window );">Associates and joint ventures net income (loss) for the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 5,665,582<span></span>
</td>
<td class="nump">R$ 5,241,924<span></span>
</td>
<td class="nump">R$ 4,360,635<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Revenues from financial intermediation or services;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Brazilian company, holding company that consolidates joint business related to electronic means of payment. In 2017, the Organization received R$ 46,820 thousand of dividends from this investment. In its financial statements, Elo Participacoes S.A. presented R$ 8,109 thousand of other comprehensive income.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Companies for which the equity accounting adjustments are calculated using statements of financial position and statements of income with lag in relation to the reporting date of these consolidated financial statements;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">In April 2016, it was consolidated after acquisition of 50% of the company;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Brazilian company, services provider related to credit and debit cards and other means of payment. In 2017, the Organization received R$ 582,483 thousand of dividends and interest on capital of this investment. In financial statements, Cielo S.A. presented R$ 8,814 thousand of other comprehensive income;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[6]</td>
<td style="vertical-align: top;" valign="top">Bradesco has a board member at IRB-Brasil with voting rights, which results in significant influence;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[7]</td>
<td style="vertical-align: top;" valign="top">Participation in Fleury S.A. (i) due to the partial spin-off of Integritas Participa&amp;#231;&amp;#245;es S.A. and, (ii) recorded using equity method as Bradesco has significant influence due its paticipation on the Board of the Directors and other committes;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[8]</td>
<td style="vertical-align: top;" valign="top">In January 2016, Aquarius Participa&amp;#231;&amp;#245;es S.A. was endowed with the contribution of the investment of Fidelity Processadora e Servi&amp;#231;os S.A.;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[9]</td>
<td style="vertical-align: top;" valign="top">In 2017, impairment losses were recognized in associates and joint control companies, in the amount of R$ 31,868 thousand, on the investment in NCR Brasil S.A. (In 2016, R$ 37,122 on the investment in EBSE - Empresa Brasileira de Solda Eletrica S.A.); and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[10]</td>
<td style="vertical-align: top;" valign="top">Partial spin-off in October, 2015;</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssociatesAndJointVenturesCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures current assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesCurrentAssets</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures current liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesCurrentLiabilities</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures net income (loss) for the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesNetIncomeLossForTheYear</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures non - current assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesNonCurrentAssets</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssociatesAndJointVenturesNonCurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures non - current liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesNonCurrentLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssociatesAndJointVenturesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Associates and joint ventures Revenue</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssociatesAndJointVenturesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Breakdown of investments in associates and joint ventures</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BreakdownOfInvestmentsInAssociatesAndJointVenturesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NameOfAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The name of an associate. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NameOfAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NameOfJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The name of a joint venture. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NameOfJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense from subsidiaries, jointly controlled entities and associates that the entity does not separately disclose in the same statement or note. [Refer: Associates [member]; Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a joint venture attributable to the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingPowerHeldInAssociate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in an associate held by the entity. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingPowerHeldInAssociate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfVotingRightsHeldInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of the voting rights in a joint venture held by the entity. [Refer: Joint ventures [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfVotingRightsHeldInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesEloParticipacoesSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=bbd_JointVenturesEloParticipacoesSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesCrediareSACreditoFinanciamentoInvestimentoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=bbd_JointVenturesCrediareSACreditoFinanciamentoInvestimentoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesMPOProcessadoraDePagamentosMoveisSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=bbd_JointVenturesMPOProcessadoraDePagamentosMoveisSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesLeaderSAAdmDeCartoesDeCreditoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=bbd_JointVenturesLeaderSAAdmDeCartoesDeCreditoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_JointVenturesAxis=bbd_JointVenturesTotalInvestmentsInJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_JointVenturesAxis=bbd_JointVenturesTotalInvestmentsInJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCieloSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCieloSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIRBBrasilRessegurosSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIRBBrasilRessegurosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFleurySaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFleurySaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesAquariusParticipacoesSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesAquariusParticipacoesSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFidelityProcessadoraSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesFidelityProcessadoraSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesHaitongBancoDeInvestimentoDoBrasilSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesHaitongBancoDeInvestimentoDoBrasilSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCiaBrasileiraDeGestaoServicosSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesCiaBrasileiraDeGestaoServicosSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesTecnologiaBancariaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesTecnologiaBancariaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesNCRBrasilIndustriaDeEquipamentosParaAutomacaoSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesNCRBrasilIndustriaDeEquipamentosParaAutomacaoSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesSwissReCorporateSolutionsBrasilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesSwissReCorporateSolutionsBrasilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesGestoraDeIntelignciaDeCrditoSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesGestoraDeIntelignciaDeCrditoSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesEmpresaBrasileiraDeSoldaEletricaSAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesEmpresaBrasileiraDeSoldaEletricaSAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIntegritasParticipacoesSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesIntegritasParticipacoesSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesOtherMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInAssociatesAxis=bbd_AssociatesTotalInvestmentsInAssociatesMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>219
<FILENAME>R180.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6871491392">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Investments in associates and joint ventures (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesAbstract', window );"><strong>Changes In Associates [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Initial balances</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,002,778<span></span>
</td>
<td class="nump">R$ 5,815,325<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesAcquisitions', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">524,155<span></span>
</td>
<td class="nump">376,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesSpinoffOfAssociates', window );">Spin-off of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(170,006)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesTransfer', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">5,953<span></span>
</td>
<td class="num">(166,294)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates', window );">Equity in net income of associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,718,411<span></span>
</td>
<td class="nump">1,699,725<span></span>
</td>
<td class="nump">R$ 1,528,051<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentIncome', window );">Dividends/Interest on capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(802,662)<span></span>
</td>
<td class="num">(655,920)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesImpairment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="num">(31,868)<span></span>
</td>
<td class="num">(37,122)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInAssociatesOther', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,623<span></span>
</td>
<td class="num">(29,370)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 8,257,384<span></span>
</td>
<td class="nump">R$ 7,002,778<span></span>
</td>
<td class="nump">R$ 5,815,325<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, it includes the acquisition of interest in (i) Swiss Re Corporate Solutions Brasil; and in (ii) GIC - Gestora de Inteligencia de Credito (In 2016, there was capital increase in Cia. Leader S.A. Administradora de Cartoes de Credito);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Disposal partial sale of the IRB (Note 43-6);</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">In 2016, the investment of Cia. Leader S.A. Administradora de Cartoes de Credito began to be consolidated after acquisition of 50% of the company; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">In 2017, there were losses on impairment in affiliates and joint ventures, in the amount of R$ 31,868 thousand (R$ 37,122 thousand - 2016).</td>
</tr>
</table></td></tr>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesAbstract</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates - Acquisitions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesAcquisitions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates - Impairment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesImpairment</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates - Other</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates - Spin-off of associates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesSpinoffOfAssociates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in associates - Transfer</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInAssociatesTransfer</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investment income, such as interest and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in subsidiaries, joint ventures and associates in an entity's separate financial statements. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or expense from subsidiaries, jointly controlled entities and associates that the entity does not separately disclose in the same statement or note. [Refer: Associates [member]; Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherIncomeExpenseFromSubsidiariesJointlyControlledEntitiesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>220
<FILENAME>R181.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861625568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in associates and joint ventures (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Apr. 30, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentsInAssociatesAndJointVenturesDetailsTextAbstract', window );"><strong>Investments In Associates And Joint Ventures Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BrazilianCompanyServicesProviderRelatedToCreditAndDebitCardsAndOtherMeansOfPaymentTheOrganizationReceivedOfDividendsAndInterestOnCapitalOfThisInvestment', window );">Brazilian company, services provider related to credit and debit cards and other means of payment - The Organization received of dividends and interest on capital of this investment</a></td>
<td class="nump">R$ 582,483<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome', window );">In financial statements, Cielo S.A. - Other comprehensive income</a></td>
<td class="nump">8,814<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsolidatedAfterAcquisition', window );">Consolidated after acquisition the company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpairmentLossesWereRecognizedInAssociatesAndJointControlCompanies', window );">Impairment losses were recognized in associates and joint control companies</a></td>
<td class="nump">31,868<span></span>
</td>
<td class="nump">R$ 37,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BrazilianCompanyHoldingCompanyThatConsolidatesJointBusinessRelatedToElectronicMeansOfPaymentTheOrganizationReceivedOfDividendsFromThisInvestment', window );">Brazilian company, holding company that consolidates joint business related to electronic means of payment - The Organization received of dividends from this investment</a></td>
<td class="nump">46,820<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialStatementsEloParticipaesSaOtherComprehensiveIncome', window );">Financial statements, Elo Participa&#231;&#245;es S.A. - Other comprehensive income</a></td>
<td class="nump">8,109<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished', window );">Fair value of investments in associates for which there are quoted market prices</a></td>
<td class="nump">R$ 22,340,660<span></span>
</td>
<td class="nump">R$ 18,980,026<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BrazilianCompanyHoldingCompanyThatConsolidatesJointBusinessRelatedToElectronicMeansOfPaymentTheOrganizationReceivedOfDividendsFromThisInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Brazilian company, holding company that consolidates joint business related to electronic means of payment - The Organization received of dividends from this investment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BrazilianCompanyHoldingCompanyThatConsolidatesJointBusinessRelatedToElectronicMeansOfPaymentTheOrganizationReceivedOfDividendsFromThisInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BrazilianCompanyServicesProviderRelatedToCreditAndDebitCardsAndOtherMeansOfPaymentTheOrganizationReceivedOfDividendsAndInterestOnCapitalOfThisInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Brazilian company, services provider related to credit and debit cards and other means of payment - The Organization received of dividends and interest on capital of this investment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BrazilianCompanyServicesProviderRelatedToCreditAndDebitCardsAndOtherMeansOfPaymentTheOrganizationReceivedOfDividendsAndInterestOnCapitalOfThisInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConsolidatedAfterAcquisition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Consolidated after acquisition</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConsolidatedAfterAcquisition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialStatementsEloParticipaesSaOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial statements, Elo Participa&#231;&#245;es S.A. - Other comprehensive income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialStatementsEloParticipaesSaOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpairmentLossesWereRecognizedInAssociatesAndJointControlCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impairment losses were recognized in associates and joint control companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpairmentLossesWereRecognizedInAssociatesAndJointControlCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In financial statements, Cielo S.A. - Other comprehensive income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InFinancialStatementsCieloSaOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentsInAssociatesAndJointVenturesDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments in associates and joint ventures (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentsInAssociatesAndJointVenturesDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of investments in associates if there are quoted market prices for the investment. [Refer: Associates [member]; Investments in associates]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_21_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>221
<FILENAME>R182.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867341840">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property and equipment (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 8,432,475<span></span>
</td>
<td class="nump">R$ 8,397,116<span></span>
</td>
<td class="nump">R$ 5,504,435<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 1,670,141<span></span>
</td>
<td class="nump">R$ 1,698,925<span></span>
</td>
<td class="nump">582,602<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember', window );">Land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 982,720<span></span>
</td>
<td class="nump">R$ 1,027,535<span></span>
</td>
<td class="nump">448,020<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Installations, properties and equipment for use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 2,783,484<span></span>
</td>
<td class="nump">R$ 2,872,445<span></span>
</td>
<td class="nump">2,788,330<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_CommunicationAndNetworkEquipmentMember', window );">Security and communications systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 135,349<span></span>
</td>
<td class="nump">R$ 132,861<span></span>
</td>
<td class="nump">59,086<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_DataProcessingSystemsMember', window );">Data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 1,621,597<span></span>
</td>
<td class="nump">R$ 1,436,248<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_TransportationSystemsMember', window );">Transportation systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 38,459<span></span>
</td>
<td class="nump">R$ 46,605<span></span>
</td>
<td class="nump">R$ 70,237<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_FinancialLeasingOfDataProcessingSystemsMember', window );">Financial leasing of data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 1,200,725<span></span>
</td>
<td class="nump">R$ 1,182,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AnnualRateOfDepreciation', window );">Annual rate of depreciation</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">R$ 16,405,492<span></span>
</td>
<td class="nump">R$ 15,514,262<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">2,153,407<span></span>
</td>
<td class="nump">2,153,351<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">982,720<span></span>
</td>
<td class="nump">1,027,535<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Installations, properties and equipment for use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">5,450,939<span></span>
</td>
<td class="nump">5,187,160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Security and communications systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">349,228<span></span>
</td>
<td class="nump">325,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">3,950,625<span></span>
</td>
<td class="nump">3,504,229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Transportation systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">86,705<span></span>
</td>
<td class="nump">86,639<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember', window );">Cost | Financial leasing of data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">3,431,868<span></span>
</td>
<td class="nump">3,229,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(7,973,017)<span></span>
</td>
<td class="num">(7,117,146)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(483,266)<span></span>
</td>
<td class="num">(454,426)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Land</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Installations, properties and equipment for use</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(2,667,455)<span></span>
</td>
<td class="num">(2,314,715)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Security and communications systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(213,879)<span></span>
</td>
<td class="num">(192,974)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(2,329,028)<span></span>
</td>
<td class="num">(2,067,981)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Transportation systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">(48,246)<span></span>
</td>
<td class="num">(40,034)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember', window );">Accumulated depreciation | Financial leasing of data processing systems</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfPropertyAndEquipmentByClassAbstract', window );"><strong>Composition of property and equipment by class</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property and equipment, net of accumulated depreciation</a></td>
<td class="num">R$ (2,231,143)<span></span>
</td>
<td class="num">R$ (2,047,016)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Annual rate of depreciation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AnnualRateOfDepreciation</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of property and equipment by class</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_TransportationSystemsMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_FinancialLeasingOfDataProcessingSystemsMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedImpairmentMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAndAmortisationMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>222
<FILENAME>R183.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838321168">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Property and equipment (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 1,797,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,897,645<span></span>
</td>
<td class="nump">2,779,321<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(552,069)<span></span>
</td>
<td class="num">(509,827)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(79,194)<span></span>
</td>
<td class="num">(32,977)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,237,328)<span></span>
</td>
<td class="num">(1,141,636)<span></span>
</td>
<td class="num">R$ (1,057,722)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,305<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,432,475<span></span>
</td>
<td class="nump">8,397,116<span></span>
</td>
<td class="nump">5,504,435<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Buildings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">752,619<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">117,888<span></span>
</td>
<td class="nump">81,809<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(53,151)<span></span>
</td>
<td class="num">(30,341)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(73,568)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(28,840)<span></span>
</td>
<td class="num">(30,179)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,887<span></span>
</td>
<td class="nump">342,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,670,141<span></span>
</td>
<td class="nump">1,698,925<span></span>
</td>
<td class="nump">582,602<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember', window );">Land</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">586,971<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">41,777<span></span>
</td>
<td class="nump">897<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(86,592)<span></span>
</td>
<td class="num">(8,353)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">982,720<span></span>
</td>
<td class="nump">1,027,535<span></span>
</td>
<td class="nump">448,020<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember', window );">Installations, properties and equipment for use</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">320,949<span></span>
</td>
<td class="nump">320,949<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">754,606<span></span>
</td>
<td class="nump">974,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(323,217)<span></span>
</td>
<td class="num">(402,316)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(502)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(521,663)<span></span>
</td>
<td class="num">(466,192)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,815<span></span>
</td>
<td class="num">(342,415)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,783,484<span></span>
</td>
<td class="nump">2,872,445<span></span>
</td>
<td class="nump">2,788,330<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_CommunicationAndNetworkEquipmentMember', window );">Security and communications systems</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">77,196<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,134<span></span>
</td>
<td class="nump">22,721<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,540)<span></span>
</td>
<td class="num">(4,804)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,836)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(24,270)<span></span>
</td>
<td class="num">(21,338)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">135,349<span></span>
</td>
<td class="nump">132,861<span></span>
</td>
<td class="nump">59,086<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember', window );">Data processing systems</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">60,065<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">947,314<span></span>
</td>
<td class="nump">1,696,318<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(86,469)<span></span>
</td>
<td class="num">(62,386)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(3,288)<span></span>
</td>
<td class="num">(20,543)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(649,583)<span></span>
</td>
<td class="num">(610,869)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(4,397)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">2,822,322<span></span>
</td>
<td class="nump">2,618,745<span></span>
</td>
<td class="nump">1,556,160<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_TransportationSystemsMember', window );">Transportation systems</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract', window );"><strong>Change in property and equipment by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,926<span></span>
</td>
<td class="nump">3,487<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment', window );">Write-offs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(100)<span></span>
</td>
<td class="num">(1,627)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="num">(12,434)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(12,972)<span></span>
</td>
<td class="num">(13,058)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 38,459<span></span>
</td>
<td class="nump">R$ 46,605<span></span>
</td>
<td class="nump">R$ 70,237<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">HSBC Brasil.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Includes financial lease of data processing systems; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInPropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for property, plant and equipment. [Refer: Impairment loss recognised in profit or loss; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from transfers. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised resulting from the write-down of property, plant and equipment to its recoverable amount or reversals of those write-downs. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WritedownsReversalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_OtherPropertyPlantAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_CommunicationAndNetworkEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_CommunicationAndNetworkEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_DataProcessingSystemsAndFinancialLeasingOfDataProcessingSystemsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_TransportationSystemsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=bbd_TransportationSystemsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>223
<FILENAME>R184.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6875254144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and equipment (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PropertyAndEquipmentDetailsTextAbstract', window );"><strong>Property And Equipment Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation expense</a></td>
<td class="nump">R$ 1,237,328<span></span>
</td>
<td class="nump">R$ 1,141,636<span></span>
</td>
<td class="nump">R$ 1,057,722<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PropertyAndEquipmentDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Property and equipment (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PropertyAndEquipmentDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>224
<FILENAME>R185.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890543600">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Intangible assets and goodwill (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 3,743,704<span></span>
</td>
<td class="nump">R$ 8,773,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,743,704<span></span>
</td>
<td class="nump">2,343,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(30,683)<span></span>
</td>
<td class="num">(212,374)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,331,240)<span></span>
</td>
<td class="num">(2,516,777)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,179,307<span></span>
</td>
<td class="nump">15,797,526<span></span>
</td>
<td class="nump">R$ 7,409,635<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,221,787<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,945,313<span></span>
</td>
<td class="nump">4,945,313<span></span>
</td>
<td class="nump">723,526<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ServiceConcessionRightsMember', window );">Acquisition of financial service rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">264,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,549,335<span></span>
</td>
<td class="nump">930,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,000,894)<span></span>
</td>
<td class="num">(951,115)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">4,051,898<span></span>
</td>
<td class="nump">2,503,457<span></span>
</td>
<td class="nump">2,260,033<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Software</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">288,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">1,203,313<span></span>
</td>
<td class="nump">1,284,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="num">(30,683)<span></span>
</td>
<td class="num">(212,374)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,327,456)<span></span>
</td>
<td class="num">(1,055,074)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">3,790,418<span></span>
</td>
<td class="nump">3,945,244<span></span>
</td>
<td class="nump">3,639,825<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember', window );">Customer portfolio</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,993,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,000,234)<span></span>
</td>
<td class="num">(344,283)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">3,358,689<span></span>
</td>
<td class="nump">4,358,923<span></span>
</td>
<td class="nump">709,463<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract', window );"><strong>Change in intangible assets and goodwill by class</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,840<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Additions/(reductions)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(8,944)<span></span>
</td>
<td class="nump">129,266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill', window );">Impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(2,656)<span></span>
</td>
<td class="num">(166,305)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsAndGoodwill', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">R$ 32,989<span></span>
</td>
<td class="nump">R$ 44,589<span></span>
</td>
<td class="nump">R$ 76,788<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">HSBC Brasil; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Impairment losses were recognized in the consolidated statement of income, within 'Other operating income/(expenses)'.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Rate of amortization: acquisition of banking rights - in accordance with contract agreement; software - 20%; Customer portfolio - up to 20%; and others - 20%;</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation of intangible assets other than goodwill. [Refer: Depreciation and amortisation expense; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInIntangibleAssetsAndGoodwillAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsAndGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsAndGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ServiceConcessionRightsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ServiceConcessionRightsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_CustomerrelatedIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>225
<FILENAME>R186.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828934672">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Intangible assets and goodwill (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfGoodwillBySegmentAbstract', window );"><strong>Composition Of Goodwill By Segment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfGoodwillBySegmentBanking', window );">Banking</a></td>
<td class="nump">R$ 4,651,347<span></span>
</td>
<td class="nump">R$ 4,651,347<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfGoodwillBySegmentInsurancePensionAndCapitalizationBonds', window );">Insurance, pension and capitalization bonds</a></td>
<td class="nump">293,966<span></span>
</td>
<td class="nump">293,966<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfGoodwillBySegmentTotal', window );">Total</a></td>
<td class="nump">R$ 4,945,313<span></span>
</td>
<td class="nump">R$ 4,945,313<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionOfGoodwillBySegmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of goodwill by segment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionOfGoodwillBySegmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionOfGoodwillBySegmentBanking">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of goodwill by segment - Banking</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionOfGoodwillBySegmentBanking</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionOfGoodwillBySegmentInsurancePensionAndCapitalizationBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of goodwill by segment - Insurance, pension and capitalization bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionOfGoodwillBySegmentInsurancePensionAndCapitalizationBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionOfGoodwillBySegmentTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of goodwill by segment - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionOfGoodwillBySegmentTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>226
<FILENAME>R187.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6875374080">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Intangible assets and goodwill (Details Text)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract', window );"><strong>Intangible assets and goodwill (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TerminalGrowthRate', window );">Calculation uses cash-flow predictions based on financial budgets approved by management, with a terminal growth rate</a></td>
<td class="nump">7.10%<span></span>
</td>
<td class="nump">7.60%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ForecastCashFlowsHaveBeenDiscountedAtRate', window );">The forecast cash flows have been discounted at a rate</a></td>
<td class="nump">13.60%<span></span>
</td>
<td class="nump">12.90%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementSoftwareMember', window );">Software</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract', window );"><strong>Intangible assets and goodwill (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RateOfAmortization', window );">Rate of amortization</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementCustomerPortfolioMember', window );">Customer portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract', window );"><strong>Intangible assets and goodwill (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RateOfAmortization', window );">Rate of amortization</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementOthersMember', window );">Others</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract', window );"><strong>Intangible assets and goodwill (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RateOfAmortization', window );">Rate of amortization</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ForecastCashFlowsHaveBeenDiscountedAtRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Forecast cash flows have been discounted at a rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ForecastCashFlowsHaveBeenDiscountedAtRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Intangible assets and goodwill (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IntangibleAssetsAndGoodwillDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RateOfAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rate of amortization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RateOfAmortization</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TerminalGrowthRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Terminal growth rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TerminalGrowthRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementCustomerPortfolioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementAxis=bbd_AcquisitionOfBankingRightsInAccordanceWithContractAgreementOthersMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>227
<FILENAME>R188.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830679200">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Other assets (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsAbstract', window );"><strong>Other assets [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsForeignExchangeTransactions', window );">Foreign exchange transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">R$ 17,279,327<span></span>
</td>
<td class="nump">R$ 17,455,821<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsDebtorsForGuaranteeDeposits', window );">Debtors for guarantee deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">17,840,698<span></span>
</td>
<td class="nump">16,372,044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsNegotiationAndIntermediationOfSecurities', window );">Negotiation and intermediation of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,741,524<span></span>
</td>
<td class="nump">1,954,484<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeReceivables', window );">Trade and credit receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3,016,225<span></span>
</td>
<td class="nump">1,813,144<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts', window );">Deferred acquisition cost (insurance) - Note 35f</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,070,108<span></span>
</td>
<td class="nump">1,750,244<span></span>
</td>
<td class="nump">R$ 1,945,238<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsSundryBorrowers', window );">Other debtors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,736,743<span></span>
</td>
<td class="nump">2,781,206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepaidExpenses', window );">Prepaid expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,244,602<span></span>
</td>
<td class="nump">1,324,362<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherReceivables', window );">Income receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,841,709<span></span>
</td>
<td class="nump">1,575,698<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsInterbankAndInterbranchReceivables', window );">Interbank and interdepartmental accounts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,480,291<span></span>
</td>
<td class="nump">949,730<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherAssetsOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">1,602,760<span></span>
</td>
<td class="nump">1,193,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAssets', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 50,853,987<span></span>
</td>
<td class="nump">R$ 47,170,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Financial assets are recorded at amortized cost.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Mainly refers to purchases in foreign currency made by the institution on behalf of customers and rights in the institution's domestic currency, resulting from exchange sale operations;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Refers to deposits resulting from legal or contractual requirements, including guarantees provided in cash, such as those made for the filing of appeals in departments or courts and those made to guarantee services of any nature;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Includes basically trade and credit receivables, material supplies, other advances and payments to be reimbursed; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsDebtorsForGuaranteeDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Debtors for guarantee deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsDebtorsForGuaranteeDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsForeignExchangeTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Foreign exchange transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsForeignExchangeTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsInterbankAndInterbranchReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Interbank and interbranch receivables</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsInterbankAndInterbranchReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsNegotiationAndIntermediationOfSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Negotiation and intermediation of securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsNegotiationAndIntermediationOfSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherAssetsSundryBorrowers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other assets - Sundry borrowers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherAssetsSundryBorrowers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepaidExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepaidExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs that an insurer incurs to sell, underwrite and initiate a new insurance contract whose recognition as an expense has been deferred. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG39<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG39_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG23_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount receivable by the entity that it does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount due from customers for goods and services sold.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828462304">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Deposits from banks (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksAbstract', window );"><strong>Deposits from banks [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksDemandDeposits', window );">Demand deposits</a></td>
<td class="nump">R$ 1,030,292<span></span>
</td>
<td class="nump">R$ 898,877<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksInterbankDeposits', window );">Interbank deposits</a></td>
<td class="nump">2,168,625<span></span>
</td>
<td class="nump">588,872<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements', window );">Securities sold under agreements to repurchase</a></td>
<td class="nump">233,467,544<span></span>
</td>
<td class="nump">241,978,931<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">18,521,713<span></span>
</td>
<td class="nump">22,165,415<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsFromBanksOnlending', window );">Onlending</a></td>
<td class="nump">30,769,294<span></span>
</td>
<td class="nump">36,030,587<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromBanks', window );">Total</a></td>
<td class="nump">R$ 285,957,468<span></span>
</td>
<td class="nump">R$ 301,662,682<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DepositsFromBanksAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DepositsFromBanksAbstract</td>
</tr>
<tr>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DepositsFromBanksDemandDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks - Demand deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DepositsFromBanksDemandDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DepositsFromBanksInterbankDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks - Interbank deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DepositsFromBanksInterbankDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DepositsFromBanksOnlending">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deposits from banks - Onlending</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DepositsFromBanksOnlending</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from banks held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross amount of recognised financial liabilities that are subject either to offsetting or to an enforceable master netting arrangement or similar agreement. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 13C<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_13C_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossFinancialLiabilitiesSubjectToOffsettingEnforceableMasterNettingArrangementsOrSimilarAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>229
<FILENAME>R190.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6765600928">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Deposits from customers (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomersAbstract', window );"><strong>Deposits from customers (Tables) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesOnDemandDepositsFromCustomers', window );">Demand deposits</a></td>
<td class="nump">R$ 33,058,324<span></span>
</td>
<td class="nump">R$ 32,521,234<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesOnOtherDepositsFromCustomers', window );">Savings deposits</a></td>
<td class="nump">103,332,697<span></span>
</td>
<td class="nump">97,088,828<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesOnTermDepositsFromCustomers', window );">Time deposits</a></td>
<td class="nump">125,617,424<span></span>
</td>
<td class="nump">103,137,867<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepositsFromCustomers', window );">Total</a></td>
<td class="nump">R$ 262,008,445<span></span>
</td>
<td class="nump">R$ 232,747,929<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesOnDemandDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of balances in customers' demand deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesOnDemandDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesOnOtherDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of balances in customers' deposit accounts held by the entity that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesOnOtherDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesOnTermDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of balances in customers' term deposits held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesOnTermDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deposit liabilities from customers held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepositsFromCustomersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepositsFromCustomersAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>230
<FILENAME>R191.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6835969056">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Funds from securities issued (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InstrumentsIssuedBrazilAbstract', window );"><strong>Instruments Issued Brazil [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RealEstateCreditNotes', window );">Real estate credit notes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 27,020,911<span></span>
</td>
<td class="nump">R$ 26,955,574<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AgribusinessNotes', window );">Agribusiness notes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,973,682<span></span>
</td>
<td class="nump">9,116,292<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialNotes', window );">Financial bills</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">93,570,141<span></span>
</td>
<td class="nump">108,512,908<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotesAndDebenturesIssued', window );">Subtotal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">131,564,734<span></span>
</td>
<td class="nump">144,584,774<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesOverseasAbstract', window );"><strong>Securities - Overseas:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BondsIssued', window );">Euronotes</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">634,549<span></span>
</td>
<td class="nump">2,785,654<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,606,322<span></span>
</td>
<td class="nump">3,286,342<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EuronotesSecuritiesIssuedThroughSecuritization', window );">Subtotal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,240,871<span></span>
</td>
<td class="nump">6,071,996<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StructuredOperationsCertificates', window );">Structured operations certificates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">368,485<span></span>
</td>
<td class="nump">445,168<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtSecurities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 135,174,090<span></span>
</td>
<td class="nump">R$ 151,101,938<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Issuance of securities in the foreign market to fund customers foreign exchange operations, export pre-financing, import financing and working capital financing, substantially in the medium and long terms.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AgribusinessNotes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agribusiness notes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AgribusinessNotes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EuronotesSecuritiesIssuedThroughSecuritization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Euronotes - Securities issued through securitization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EuronotesSecuritiesIssuedThroughSecuritization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialNotes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial notes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialNotes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InstrumentsIssuedBrazilAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Instruments Issued - Brazil</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InstrumentsIssuedBrazilAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RealEstateCreditNotes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Real estate credit notes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RealEstateCreditNotes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SecuritiesIssuedThroughSecuritization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities issued through securitization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SecuritiesIssuedThroughSecuritization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SecuritiesOverseasAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities &#8211; Overseas:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SecuritiesOverseasAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StructuredOperationsCertificates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Structured operations certificates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StructuredOperationsCertificates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BondsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bonds issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BondsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments issued by the entity that represent indebtedness.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotesAndDebenturesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of notes and debentures issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotesAndDebenturesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<FILENAME>R192.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6846919248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Funds from securities issued (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">R$ 2,606,322<span></span>
</td>
<td class="nump">R$ 3,286,342<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue3062008Member', window );">Date of Issue: 3.06.2008 | Maturity: 5.22.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">87,183<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12192008Member', window );">Date of Issue: 12.19.2008 | Maturity: 2.20.2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">348,524<span></span>
</td>
<td class="nump">698,551<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12172009Member', window );">Date of Issue: 12.17.2009 | Maturity: 2.20.2020</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">49,594<span></span>
</td>
<td class="nump">74,487<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue8202010Member', window );">Date of Issue: 8.20.2010 | Maturity: 8.21.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">60,938<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue9292010Member', window );">Date of Issue: 9.29.2010 | Maturity: 8.21.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">34,810<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member', window );">Date of Issue: 11.16.2011 | Maturity: 11.20.2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">26,068<span></span>
</td>
<td class="nump">60,989<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member', window );">Date of Issue: 11.16.2011 | Maturity: 11.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">139,678<span></span>
</td>
<td class="nump">177,095<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12232015Member', window );">Date of Issue: 12.23.2015 | Maturity: 11.21.2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">330,311<span></span>
</td>
<td class="nump">348,110<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue12232015Member', window );">Date of Issue: 12.23.2015 | Maturity: 11.20.2020</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">318,934<span></span>
</td>
<td class="nump">348,662<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue2022016Member', window );">Date of Issue: 2.02.2016 | Maturity: 2.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">871,260<span></span>
</td>
<td class="nump">872,710<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue3302016Member', window );">Date of Issue: 3.30.2016 | Maturity: 2.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">521,953<span></span>
</td>
<td class="nump">R$ 522,807<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">4,998,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 3.06.2008 | Maturity: 5.22.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">836,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 12.19.2008 | Maturity: 2.20.2019</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">1,168,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 12.17.2009 | Maturity: 2.20.2020</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">89,115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 8.20.2010 | Maturity: 8.21.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">307,948<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 9.29.2010 | Maturity: 8.21.2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">170,530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 11.16.2011 | Maturity: 11.20.2018</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">88,860<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 11.16.2011 | Maturity: 11.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">133,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 12.23.2015 | Maturity: 11.21.2022</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">390,480<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 12.23.2015 | Maturity: 11.20.2020</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">390,480<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 2.02.2016 | Maturity: 2.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">889,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FundingFromIssuanceOfSecuritiesAxis=bbd_FundingFromIssuanceOfSecuritiesAmountOfTheTransactionMember', window );">Nominal amount | Date of Issue: 3.30.2016 | Maturity: 2.22.2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritizationOfTheFutureFlowOfPaymentOrdersReceivedFromAbroadAbstract', window );"><strong>Securitization of the future flow of payment orders received from abroad</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SecuritiesIssuedThroughSecuritization', window );">Balance</a></td>
<td class="nump">R$ 533,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities issued through securitization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securitization of the future flow of payment orders received from abroad</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SecuritiesIssuedThroughSecuritizationDateOfIssueAxis=bbd_SecuritiesIssuedThroughSecuritizationDateOfIssue11162011Member">
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<td><strong> Data Type:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>232
<FILENAME>R193.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6877024544">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Subordinated debt (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 50,179,401<span></span>
</td>
<td class="nump">R$ 52,611,064<span></span>
</td>
<td class="nump">R$ 50,282,936<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">38,541,679<span></span>
</td>
<td class="nump">41,155,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2019 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">36,139<span></span>
</td>
<td class="nump">33,402<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2019 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,436,734<span></span>
</td>
<td class="nump">3,423,463<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2019 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,184<span></span>
</td>
<td class="nump">25,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2017 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">11,075,463<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2017 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">95,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2018 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,130,108<span></span>
</td>
<td class="nump">9,875,551<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2018 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">316,757<span></span>
</td>
<td class="nump">293,357<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2018 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">119,417<span></span>
</td>
<td class="nump">112,038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2020 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,801<span></span>
</td>
<td class="nump">2,612<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2020 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">54,383<span></span>
</td>
<td class="nump">49,498<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2022 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">99,338<span></span>
</td>
<td class="nump">91,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2022 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,597,559<span></span>
</td>
<td class="nump">5,050,633<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2023 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,070,085<span></span>
</td>
<td class="nump">1,011,423<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2023 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,699,872<span></span>
</td>
<td class="nump">1,522,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2023 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,265,488<span></span>
</td>
<td class="nump">2,015,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2024 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">73,861<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2024 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">159,205<span></span>
</td>
<td class="nump">143,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2024 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,611<span></span>
</td>
<td class="nump">5,806<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2021 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,429<span></span>
</td>
<td class="nump">37,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2021 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,027<span></span>
</td>
<td class="nump">1,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2021 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">13,125<span></span>
</td>
<td class="nump">11,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2025 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">392,376<span></span>
</td>
<td class="nump">342,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2025 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">6,624,611<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2025 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">457,679<span></span>
</td>
<td class="nump">417,641<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2026 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">438,776<span></span>
</td>
<td class="nump">392,886<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2026 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,271<span></span>
</td>
<td class="nump">4,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2027 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">273,498<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2027 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">53,996<span></span>
</td>
<td class="nump">48,566<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: 2028 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">77,079<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Maturity: Perpetual | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,004,967<span></span>
</td>
<td class="nump">5,015,870<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember', window );">In Brazil | Subordinated CDB: | Maturity: 2019 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">62,303<span></span>
</td>
<td class="nump">56,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember', window );">Overseas:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,637,722<span></span>
</td>
<td class="nump">11,455,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember', window );">Overseas: | Maturity: 2019 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,520,963<span></span>
</td>
<td class="nump">2,482,631<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember', window );">Overseas: | Maturity: 2022 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,697,115<span></span>
</td>
<td class="nump">5,333,373<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember', window );">Overseas: | Maturity: 2021 | Original term in years: 11</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 5,419,644<span></span>
</td>
<td class="nump">3,639,183<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2019 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2019 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,172,835<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2019 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,735<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2017 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,630,999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2017 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2018 | Original term in years: 6 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,262,799<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2018 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">141,050<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2018 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2020 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2020 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,556<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2022 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2022 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,305,011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2023 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">688,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2023 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,359,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2023 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,706,846<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2024 | Original term in years: 7 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67,450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2024 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">136,695<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2024 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,924<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2021 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2021 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,236<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2021 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2025 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">284,137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2025 | Original term in years: 8 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,193,653<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2025 | Original term in years: 9 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,944<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2026 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">361,196<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2026 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2027 | Original term in years: 10 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">258,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2027 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">47,046<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: 2028 | Original term in years: 11 | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Maturity: Perpetual | Financial bills:</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | In Brazil | Subordinated CDB: | Maturity: 2019 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | Overseas: | Maturity: 2019 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,333,575<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | Overseas: | Maturity: 2022 | Original term in years: 10</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,886,720<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember', window );">Nominal amount | Overseas: | Maturity: 2021 | Original term in years: 11</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilitiesAbstract', window );"><strong>Subordinated debt</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,766,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Subordinated debt transactions that matured in 2017; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">New issuances of financial bills in 2017, referring to subordinated debt.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are subordinate to other liabilities with respect to claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilitiesAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionInBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2019Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2019Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears6Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears6Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialNotesAxis=bbd_FinancialNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialNotesAxis=bbd_FinancialNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears7Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears7Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears8Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears8Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2017Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2017Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2018Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2018Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2020Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2020Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2022Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2022Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears10Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears10Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2023Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2023Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2024Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2024Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears9Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears9Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2021Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2021Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2025Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2025Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears11Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OriginalTermInYearsAxis=bbd_OriginalTermInYears11Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2027Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2027Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturity2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturityPerpetualMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtMaturityAxis=bbd_SubordinatedDebtMaturityPerpetualMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedCDBAxis=bbd_SubordinatedCDBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedCDBAxis=bbd_SubordinatedCDBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtRegionAxis=bbd_SubordinatedDebtRegionAbroadMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountOfTheTransactionAxis=bbd_AmountOfTheTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>233
<FILENAME>R194.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828370368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subordinated debt (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetMovementOfSubordinatedDebtAbstract', window );"><strong>Net Movement Of Subordinated Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">Initial balances</a></td>
<td class="nump">R$ 52,611,064<span></span>
</td>
<td class="nump">R$ 50,282,936<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtBalanceOriginatingFromAnAcquiredInstitution', window );">Balance originating from an acquired institution</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,401,348<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtIssuances', window );">Issuances</a></td>
<td class="nump">6,594,610<span></span>
</td>
<td class="nump">3,787,207<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtInterest', window );">Interest</a></td>
<td class="nump">5,100,017<span></span>
</td>
<td class="nump">6,298,555<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubordinatedDebtPaymentsAndOther', window );">Payments and other</a></td>
<td class="num">(14,126,290)<span></span>
</td>
<td class="num">(9,158,982)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SubordinatedLiabilities', window );">At the end of the year</a></td>
<td class="nump">R$ 50,179,401<span></span>
</td>
<td class="nump">R$ 52,611,064<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetMovementOfSubordinatedDebtAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net movement of subordinated debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetMovementOfSubordinatedDebtAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtBalanceOriginatingFromAnAcquiredInstitution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debt - Balance originating from an acquired institution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtBalanceOriginatingFromAnAcquiredInstitution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debt - Interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtIssuances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debt - Issuances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtIssuances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubordinatedDebtPaymentsAndOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subordinated debt - Payments and other</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubordinatedDebtPaymentsAndOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SubordinatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are subordinate to other liabilities with respect to claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SubordinatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>234
<FILENAME>R195.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6847374592">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Current and long-term liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsForFutureNonparticipatingBenefits', window );">Mathematical reserve for unvested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 208,870,366<span></span>
</td>
<td class="nump">R$ 185,506,819<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MathematicalProvisionForBenefitsGranted', window );">Mathematical reserve for vested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,633,439<span></span>
</td>
<td class="nump">9,200,337<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,190,074<span></span>
</td>
<td class="nump">4,034,622<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnearnedPremiums', window );">Unearned premium reserve</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,636,085<span></span>
</td>
<td class="nump">4,839,699<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,879,921<span></span>
</td>
<td class="nump">6,327,615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevaluationSurplus', window );">Reserve for financial surplus</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">514,199<span></span>
</td>
<td class="nump">554,505<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Other technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,365,506<span></span>
</td>
<td class="nump">5,376,403<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">239,089,590<span></span>
</td>
<td class="nump">215,840,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember', window );">Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Current and long-term liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsForFutureNonparticipatingBenefits', window );">Mathematical reserve for unvested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,051,507<span></span>
</td>
<td class="nump">912,764<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MathematicalProvisionForBenefitsGranted', window );">Mathematical reserve for vested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">265,727<span></span>
</td>
<td class="nump">210,855<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">3,159,967<span></span>
</td>
<td class="nump">2,770,507<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnearnedPremiums', window );">Unearned premium reserve</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">4,068,716<span></span>
</td>
<td class="nump">4,265,155<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">4,291,432<span></span>
</td>
<td class="nump">4,645,468<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevaluationSurplus', window );">Reserve for financial surplus</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Other technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,996,206<span></span>
</td>
<td class="nump">2,048,355<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">14,833,555<span></span>
</td>
<td class="nump">14,853,104<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Life and Pension</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Current and long-term liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsForFutureNonparticipatingBenefits', window );">Mathematical reserve for unvested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">207,818,859<span></span>
</td>
<td class="nump">184,594,055<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MathematicalProvisionForBenefitsGranted', window );">Mathematical reserve for vested benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">9,367,712<span></span>
</td>
<td class="nump">8,989,482<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">1,030,107<span></span>
</td>
<td class="nump">1,264,115<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnearnedPremiums', window );">Unearned premium reserve</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">567,369<span></span>
</td>
<td class="nump">574,544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">1,588,489<span></span>
</td>
<td class="nump">1,682,147<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevaluationSurplus', window );">Reserve for financial surplus</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">514,199<span></span>
</td>
<td class="nump">554,505<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Other technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4]</sup></td>
<td class="nump">3,369,300<span></span>
</td>
<td class="nump">3,328,048<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4],[5]</sup></td>
<td class="nump">R$ 224,256,035<span></span>
</td>
<td class="nump">R$ 200,986,896<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Insurance basically refers to the technical provisions of the 'personal health' portfolio;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Life and Pension Plan mainly includes the 'Reserve for redemption and other amounts to be settled', 'Reserve for related expenses'</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Includes personal insurance and pension plans; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Includes personal and pension insurance operations.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MathematicalProvisionForBenefitsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Mathematical provision for benefits granted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MathematicalProvisionForBenefitsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsIncurredButNotReported">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for insured events that have occurred but for which claims have yet not been reported by policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsIncurredButNotReported</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsReportedByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for claims reported by policyholders as the result of the occurrence of insured events. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsReportedByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued that the entity does not separately disclose in the same statement or note. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsForFutureNonparticipatingBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions for future non-participating benefits. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_e&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsForFutureNonparticipatingBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevaluationSurplus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the accumulated revaluation surplus on the revaluation of assets recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevaluationSurplus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnearnedPremiums">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for written premiums on insurance contracts that have not yet been earned. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnearnedPremiums</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>235
<FILENAME>R196.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6840825952">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAbstract', window );"><strong>Technical provisions by product</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductHealth', window );">Health</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 9,754,024<span></span>
</td>
<td class="nump">R$ 8,559,137<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAutoLiabilityInsurance', window );">Auto / Liability Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,156,847<span></span>
</td>
<td class="nump">3,126,232<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles', window );">DPVAT (Personal Injury Caused by Automotive Vehicles)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">509,261<span></span>
</td>
<td class="nump">474,232<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductLife', window );">Life</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,018,884<span></span>
</td>
<td class="nump">9,336,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty', window );">RE (Elementary branch)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,416,523<span></span>
</td>
<td class="nump">2,696,447<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL', window );">Free Benefits Generating Plan - PGBL</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">35,087,618<span></span>
</td>
<td class="nump">32,605,459<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL', window );">Insurance - Life with Survival Coverage (VGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">158,746,205<span></span>
</td>
<td class="nump">138,670,739<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductTraditionalPlans', window );">Tradicional plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,400,228<span></span>
</td>
<td class="nump">20,370,995<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">239,089,590<span></span>
</td>
<td class="nump">215,840,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember', window );">Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAbstract', window );"><strong>Technical provisions by product</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductHealth', window );">Health</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,754,024<span></span>
</td>
<td class="nump">8,559,137<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAutoLiabilityInsurance', window );">Auto / Liability Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,156,847<span></span>
</td>
<td class="nump">3,126,232<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles', window );">DPVAT (Personal Injury Caused by Automotive Vehicles)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">506,161<span></span>
</td>
<td class="nump">471,288<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductLife', window );">Life</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty', window );">RE (Elementary branch)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,416,523<span></span>
</td>
<td class="nump">2,696,447<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL', window );">Free Benefits Generating Plan - PGBL</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL', window );">Insurance - Life with Survival Coverage (VGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductTraditionalPlans', window );">Tradicional plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">14,833,555<span></span>
</td>
<td class="nump">14,853,104<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Life and Pension</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAbstract', window );"><strong>Technical provisions by product</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductHealth', window );">Health</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductAutoLiabilityInsurance', window );">Auto / Liability Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles', window );">DPVAT (Personal Injury Caused by Automotive Vehicles)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">3,100<span></span>
</td>
<td class="nump">2,944<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductLife', window );">Life</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">10,018,884<span></span>
</td>
<td class="nump">9,336,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty', window );">RE (Elementary branch)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL', window );">Free Benefits Generating Plan - PGBL</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">35,087,618<span></span>
</td>
<td class="nump">32,605,459<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL', window );">Insurance - Life with Survival Coverage (VGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">158,746,205<span></span>
</td>
<td class="nump">138,670,739<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductTraditionalPlans', window );">Tradicional plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">20,400,228<span></span>
</td>
<td class="nump">20,370,995<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3],[4],[5]</sup></td>
<td class="nump">R$ 224,256,035<span></span>
</td>
<td class="nump">R$ 200,986,896<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Insurance basically refers to the technical provisions of the 'personal health' portfolio;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Includes personal and pension insurance operations.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Life and Pension Plan mainly includes the 'Reserve for redemption and other amounts to be settled', 'Reserve for related expenses'</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">Includes personal insurance and pension plans; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductAutoLiabilityInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Auto / Liability Insurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductAutoLiabilityInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - DPVAT (Personal Injury Caused by Automotive Vehicles)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductDPVATPersonalInjuryCausedByAutomotiveVehicles</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Elementary lines (property/casualty)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductElementaryLinesPropertyCasualty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Free Benefits Generating Life - VGBL</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Free Benefits Generating Plan - PGBL</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingPlanPGBL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductHealth">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Health</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductHealth</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Life</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductTraditionalPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Traditional plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductTraditionalPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>236
<FILENAME>R197.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830400368">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAggregatedProductsAbstract', window );"><strong>Technical Provisions By Aggregated Products [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth', window );">Insurance - Vehicle, Elementary Lines, Life and Health</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 24,855,539<span></span>
</td>
<td class="nump">R$ 24,192,807<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL', window );">Insurance - Life with Survival Coverage (VGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">158,746,205<span></span>
</td>
<td class="nump">138,670,739<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans', window );">Pensions - PGBL and Traditional Plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,623,322<span></span>
</td>
<td class="nump">45,557,528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans', window );">Pensions - Risk Traditional Plans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,864,524<span></span>
</td>
<td class="nump">7,418,926<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 239,089,590<span></span>
</td>
<td class="nump">R$ 215,840,000<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAggregatedProductsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by aggregated products</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAggregatedProductsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by aggregated products - Insurance - Vehicle, Elementary Lines, Life and Health</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAggregatedProductsInsuranceVehicleElementaryLinesLifeAndHealth</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by aggregated products - Pensions - PGBL and Traditional Plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAggregatedProductsPensionsPGBLAndTraditionalPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by aggregated products - Pensions - Risk Traditional Plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByAggregatedProductsPensionsRiskTraditionalPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Technical provisions by product - Free Benefits Generating Life - VGBL</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TechnicalProvisionsByProductFreeBenefitsGeneratingLifeVGBL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>237
<FILENAME>R198.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838580032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 4) - Insurance &#8211; Vehicle, General, Life, Health and Pension (Risk on Traditional Plans) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Changes in the insurance and pension technical provisions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansAtTheBeginningOfTheYear', window );">At the beginning of the year</a></td>
<td class="nump">R$ 31,611,733<span></span>
</td>
<td class="nump">R$ 27,844,231<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LessDPVATInsurance', window );">(-) DPVAT insurance</a></td>
<td class="num">(473,579)<span></span>
</td>
<td class="num">(333,699)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtBeginningOfTheYear', window );">Subtotal at beginning of the year</a></td>
<td class="nump">31,138,154<span></span>
</td>
<td class="nump">27,510,532<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Additions, net of reversals</a></td>
<td class="nump">28,542,623<span></span>
</td>
<td class="nump">28,700,765<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Payment of redemptions</a></td>
<td class="num">(27,156,197)<span></span>
</td>
<td class="num">(26,449,844)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Adjustment for inflation and interest</a></td>
<td class="nump">648,898<span></span>
</td>
<td class="nump">1,376,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PartialSpinoffOfLargeRiskPortfolio', window );">Partial spin-off of large risk portfolio</a></td>
<td class="num">(961,513)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtEndOfThePeriod', window );">Subtotal at end of the period</a></td>
<td class="nump">32,211,965<span></span>
</td>
<td class="nump">31,138,154<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_MoreDPVATInsurance', window );">(+) DPVAT insurance</a></td>
<td class="nump">508,098<span></span>
</td>
<td class="nump">473,579<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">At the end of the year</a></td>
<td class="nump">R$ 32,720,063<span></span>
</td>
<td class="nump">R$ 31,611,733<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansAtTheBeginningOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans) - At the beginning of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansAtTheBeginningOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtBeginningOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans) - Subtotal at beginning of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtBeginningOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtEndOfThePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Vehicle, General, Life, Health and Pension (Risk on Traditional Plans) - Subtotal at end of the period</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansSubtotalAtEndOfThePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LessDPVATInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(Less) DPVAT insurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LessDPVATInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_MoreDPVATInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(More) DPVAT insurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_MoreDPVATInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PartialSpinoffOfLargeRiskPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Partial spin-off of large risk portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PartialSpinoffOfLargeRiskPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in liabilities under insurance contracts and reinsurance contracts issued, resulting from additions other than through business combinations. [Refer: Liabilities under insurance contracts and reinsurance contracts issued; Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in liabilities under insurance contracts and reinsurance contracts issued resulting from cash paid. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under insurance contracts and reinsurance contracts issued. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under issued insurance contracts and reinsurance contracts resulting from adjustments arising from the passage of time. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceVehicleGeneralLifeHealthAndPensionRiskOnTraditionalPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>238
<FILENAME>R199.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6843734688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 5) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Changes in the insurance and pension technical provisions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Receipt of premiums net of fees</a></td>
<td class="nump">R$ 70,237,723<span></span>
</td>
<td class="nump">R$ 65,333,387<span></span>
</td>
<td class="nump">R$ 59,104,979<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BenefitsPaidOrPayable', window );">Payment of benefits</a></td>
<td class="nump">192,043<span></span>
</td>
<td class="nump">147,842<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceLifeWithSurvivalCoverageVGBLMember', window );">Insurance &#8211; Life with Survival Coverage (VGBL)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Changes in the insurance and pension technical provisions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear', window );">At the beginning of the year</a></td>
<td class="nump">138,670,739<span></span>
</td>
<td class="nump">106,248,597<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Receipt of premiums net of fees</a></td>
<td class="nump">28,577,437<span></span>
</td>
<td class="nump">35,824,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BenefitsPaidOrPayable', window );">Payment of benefits</a></td>
<td class="num">(28,758)<span></span>
</td>
<td class="num">(47,379)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Payment of redemptions</a></td>
<td class="num">(18,985,242)<span></span>
</td>
<td class="num">(16,674,828)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Adjustment for inflation and interest</a></td>
<td class="nump">13,468,401<span></span>
</td>
<td class="nump">14,660,738<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Others</a></td>
<td class="num">(2,956,372)<span></span>
</td>
<td class="num">(1,341,040)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">At the end of the year</a></td>
<td class="nump">R$ 158,746,205<span></span>
</td>
<td class="nump">R$ 138,670,739<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance - Life with Survival Coverage (VGBL)At the beginning of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceLifeWithSurvivalCoverageVGBLAtTheBeginningOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BenefitsPaidOrPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of benefits paid or payable for retirement benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BenefitsPaidOrPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in liabilities under insurance contracts and reinsurance contracts issued resulting from cash paid. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under insurance contracts and reinsurance contracts issued. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under issued insurance contracts and reinsurance contracts resulting from adjustments arising from the passage of time. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under insurance contracts and reinsurance contracts issued resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetEarnedPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of premiums earned on insurance contracts net of reinsurance premiums. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetEarnedPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceLifeWithSurvivalCoverageVGBLMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_InsuranceLifeWithSurvivalCoverageVGBLMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>239
<FILENAME>R200.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830997424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 6) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Changes in the insurance and pension technical provisions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Receipt of premiums net of fees</a></td>
<td class="nump">R$ 70,237,723<span></span>
</td>
<td class="nump">R$ 65,333,387<span></span>
</td>
<td class="nump">R$ 59,104,979<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BenefitsPaidOrPayable', window );">Payment of benefits</a></td>
<td class="nump">192,043<span></span>
</td>
<td class="nump">147,842<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_PensionsPGBLAndTraditionalPlansMember', window );">Pensions &#8211; PGBL and Traditional Plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract', window );"><strong>Changes in the insurance and pension technical provisions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear', window );">At the beginning of the year</a></td>
<td class="nump">45,557,528<span></span>
</td>
<td class="nump">36,848,112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetEarnedPremium', window );">Receipt of premiums net of fees</a></td>
<td class="nump">3,446,148<span></span>
</td>
<td class="nump">7,412,759<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BenefitsPaidOrPayable', window );">Payment of benefits</a></td>
<td class="num">(759,949)<span></span>
</td>
<td class="num">(696,056)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Payment of redemptions</a></td>
<td class="num">(2,962,505)<span></span>
</td>
<td class="num">(2,438,351)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Adjustment for inflation and interest</a></td>
<td class="nump">3,656,452<span></span>
</td>
<td class="nump">4,808,394<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">Others</a></td>
<td class="num">(1,314,352)<span></span>
</td>
<td class="num">(377,330)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">At the end of the year</a></td>
<td class="nump">R$ 47,623,322<span></span>
</td>
<td class="nump">R$ 45,557,528<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Pensions - PGBL and Traditional Plans - At the beginning of the year</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PensionsPGBLAndTraditionalPlansAtTheBeginningOfTheYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BenefitsPaidOrPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of benefits paid or payable for retirement benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BenefitsPaidOrPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in liabilities under insurance contracts and reinsurance contracts issued resulting from cash paid. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashPaidLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssuedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under insurance contracts and reinsurance contracts issued. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under issued insurance contracts and reinsurance contracts resulting from adjustments arising from the passage of time. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in liabilities under insurance contracts and reinsurance contracts issued resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetEarnedPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of premiums earned on insurance contracts net of reinsurance premiums. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetEarnedPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=bbd_PensionsPGBLAndTraditionalPlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=bbd_PensionsPGBLAndTraditionalPlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>240
<FILENAME>R201.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874446080">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 7) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesForTheTechnicalProvisionsAbstract', window );"><strong>Guarantees for the technical provisions</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 239,089,590<span></span>
</td>
<td class="nump">R$ 215,840,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredAcquisitionCostPpngReducers', window );">(-) Deferred acquisition cost PPNG reducers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(138,780)<span></span>
</td>
<td class="num">(237,104)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PortionCorrespondingToContractedReinsurance', window );">(-) Portion corresponding to contracted reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(167,260)<span></span>
</td>
<td class="num">(988,350)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsRetainedAtIrbAndCourtDeposits', window );">(-) Deposits retained at IRB and court deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="num">(16)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts', window );">(-) Receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(925,999)<span></span>
</td>
<td class="num">(1,068,329)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnearnedPremiumReserveHealthInsurance', window );">(-) Unearned premium reserve - Health and dental insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(1,268,243)<span></span>
</td>
<td class="num">(1,182,152)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReservesFromDPVATAgrments', window );">(-) Reserves from DPVAT agreements</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(502,491)<span></span>
</td>
<td class="num">(465,568)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ToBeInsured', window );">To be insured</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">236,086,817<span></span>
</td>
<td class="nump">211,898,481<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasVGBLAndPGBL', window );">Investment fund quotas (VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">190,639,798<span></span>
</td>
<td class="nump">168,337,785<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasExcludingVGBLAndPGBL', window );">Investment fund quotas (excluding VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26,715,093<span></span>
</td>
<td class="nump">30,437,664<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GovernmentSecurities', window );">Government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">27,619,851<span></span>
</td>
<td class="nump">20,069,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSecurities', window );">Private securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">182,541<span></span>
</td>
<td class="nump">262,727<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesOfTechnicalReservesEquities', window );">Shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,719,628<span></span>
</td>
<td class="nump">1,731,181<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalGuaranteesOfTechnicalReserves', window );">Total technical provision guarantees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">246,876,911<span></span>
</td>
<td class="nump">220,838,378<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember', window );">Insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesForTheTechnicalProvisionsAbstract', window );"><strong>Guarantees for the technical provisions</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">14,833,555<span></span>
</td>
<td class="nump">14,853,104<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredAcquisitionCostPpngReducers', window );">(-) Deferred acquisition cost PPNG reducers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(138,780)<span></span>
</td>
<td class="num">(237,104)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PortionCorrespondingToContractedReinsurance', window );">(-) Portion corresponding to contracted reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(153,137)<span></span>
</td>
<td class="num">(947,159)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsRetainedAtIrbAndCourtDeposits', window );">(-) Deposits retained at IRB and court deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="num">(16)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts', window );">(-) Receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(925,999)<span></span>
</td>
<td class="num">(1,068,329)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnearnedPremiumReserveHealthInsurance', window );">(-) Unearned premium reserve - Health and dental insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(1,268,243)<span></span>
</td>
<td class="num">(1,182,152)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReservesFromDPVATAgrments', window );">(-) Reserves from DPVAT agreements</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(502,491)<span></span>
</td>
<td class="num">(465,568)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ToBeInsured', window );">To be insured</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,844,905<span></span>
</td>
<td class="nump">10,952,776<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasVGBLAndPGBL', window );">Investment fund quotas (VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasExcludingVGBLAndPGBL', window );">Investment fund quotas (excluding VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,076,006<span></span>
</td>
<td class="nump">7,164,637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GovernmentSecurities', window );">Government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,011,657<span></span>
</td>
<td class="nump">5,882,012<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSecurities', window );">Private securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,203<span></span>
</td>
<td class="nump">93,287<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesOfTechnicalReservesEquities', window );">Shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,227<span></span>
</td>
<td class="nump">2,325<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalGuaranteesOfTechnicalReserves', window );">Total technical provision guarantees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,109,093<span></span>
</td>
<td class="nump">13,142,261<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember', window );">Life and Pension</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesForTheTechnicalProvisionsAbstract', window );"><strong>Guarantees for the technical provisions</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts', window );">Total technical provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5],[6],[7]</sup></td>
<td class="nump">224,256,035<span></span>
</td>
<td class="nump">200,986,896<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DeferredAcquisitionCostPpngReducers', window );">(-) Deferred acquisition cost PPNG reducers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PortionCorrespondingToContractedReinsurance', window );">(-) Portion corresponding to contracted reinsurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(14,123)<span></span>
</td>
<td class="num">(41,191)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DepositsRetainedAtIrbAndCourtDeposits', window );">(-) Deposits retained at IRB and court deposits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts', window );">(-) Receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_UnearnedPremiumReserveHealthInsurance', window );">(-) Unearned premium reserve - Health and dental insurance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReservesFromDPVATAgrments', window );">(-) Reserves from DPVAT agreements</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ToBeInsured', window );">To be insured</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">224,241,912<span></span>
</td>
<td class="nump">200,945,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasVGBLAndPGBL', window );">Investment fund quotas (VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">190,639,798<span></span>
</td>
<td class="nump">168,337,785<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InvestmentFundQuotasExcludingVGBLAndPGBL', window );">Investment fund quotas (excluding VGBL and PGBL)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">21,639,087<span></span>
</td>
<td class="nump">23,273,027<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GovernmentSecurities', window );">Government securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18,608,194<span></span>
</td>
<td class="nump">14,187,009<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PrivateSecurities', window );">Private securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">164,338<span></span>
</td>
<td class="nump">169,440<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_GuaranteesOfTechnicalReservesEquities', window );">Shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,716,401<span></span>
</td>
<td class="nump">1,728,856<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalGuaranteesOfTechnicalReserves', window );">Total technical provision guarantees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 232,767,818<span></span>
</td>
<td class="nump">R$ 207,696,117<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Demand and savings deposits and Technical provisions for insurance and pension plans comprising VGBL and PGBL products are classified as up to 30 days, without considering average historical turnover; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Deduction provided for in article 4 of Normative Resolution ANS no. 392/15; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">The investment funds 'VGBL' and 'PGBL' were consolidated in the financial statements.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Insurance basically refers to the technical provisions of the 'personal health' portfolio;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">'Other technical provisions' - Life and Pension Plan mainly includes the 'Reserve for redemption and other amounts to be settled', 'Reserve for related expenses'</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[6]</td>
<td style="vertical-align: top;" valign="top">Includes personal and pension insurance operations.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[7]</td>
<td style="vertical-align: top;" valign="top">Includes personal insurance and pension plans; and</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DeferredAcquisitionCostPpngReducers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(-) Deferred acquisition cost PPNG reducers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DeferredAcquisitionCostPpngReducers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DepositsRetainedAtIrbAndCourtDeposits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(-) Deposits retained at IRB and court deposits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DepositsRetainedAtIrbAndCourtDeposits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GovernmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Government securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GovernmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GuaranteesForTheTechnicalProvisionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Guarantees for the technical provisions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GuaranteesForTheTechnicalProvisionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_GuaranteesOfTechnicalReservesEquities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Guarantees of technical reserves - Equities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_GuaranteesOfTechnicalReservesEquities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentFundQuotasExcludingVGBLAndPGBL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment fund quotas (excluding VGBL and PGBL)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentFundQuotasExcludingVGBLAndPGBL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InvestmentFundQuotasVGBLAndPGBL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investment fund quotas (VGBL and PGBL)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InvestmentFundQuotasVGBLAndPGBL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PortionCorrespondingToContractedReinsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(-) Portion corresponding to contracted reinsurance</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PortionCorrespondingToContractedReinsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PrivateSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Private securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PrivateSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReservesFromDPVATAgrments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(-) Reserves from DPVAT agr&#233;ments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReservesFromDPVATAgrments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ToBeInsured">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>To be insured</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ToBeInsured</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalGuaranteesOfTechnicalReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total guarantees of technical reserves</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalGuaranteesOfTechnicalReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_UnearnedPremiumReserveHealthInsurance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(-) Unearned premium reserve - Health insurance (1)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_UnearnedPremiumReserveHealthInsurance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG20_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG37<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG37_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of receivables and payables related to insurance contracts (amounts currently due to and from agents, brokers and policyholders related to insurance contracts).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_g&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReceivablesAndPayablesRelatedToInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_NonlifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInsuranceContractsAxis=ifrs-full_LifeInsuranceContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>241
<FILENAME>R202.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830429392">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 8) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract', window );"><strong>Changes In Deferred Acquisition Cost Insurance Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts', window );">At the beginning of the year</a></td>
<td class="nump">R$ 1,750,244<span></span>
</td>
<td class="nump">R$ 1,945,238<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts', window );">Additions</a></td>
<td class="nump">1,586,888<span></span>
</td>
<td class="nump">1,940,226<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossDeferredAcquisitionCostsArisingFromInsuranceContracts', window );">Reversals</a></td>
<td class="num">(2,250,844)<span></span>
</td>
<td class="num">(2,135,220)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio', window );">Partial spin-off of large risk portfolio</a></td>
<td class="num">(16,180)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts', window );">At the end of the year</a></td>
<td class="nump">R$ 1,070,108<span></span>
</td>
<td class="nump">R$ 1,750,244<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in deferred acquisition cost (insurance assets)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in deferred acquisition cost (insurance assets) - Partial spin-off of large risk portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInDeferredAcquisitionCostInsuranceAssetsPartialSpinoffOfLargeRiskPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in deferred acquisition costs arising from insurance contracts resulting from amounts of those costs incurred. [Refer: Deferred acquisition costs arising from insurance contracts]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG39<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG39_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmountsIncurredDeferredAcquisitionCostsArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs that an insurer incurs to sell, underwrite and initiate a new insurance contract whose recognition as an expense has been deferred. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG39<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG39_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG23_a&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredAcquisitionCostsArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossDeferredAcquisitionCostsArisingFromInsuranceContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in deferred acquisition costs arising from insurance contracts resulting from an impairment loss recognised in profit or loss. [Refer: Impairment loss recognised in profit or loss; Deferred acquisition costs arising from insurance contracts; Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG39<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG39_d&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossDeferredAcquisitionCostsArisingFromInsuranceContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>242
<FILENAME>R203.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830269360">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 9) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInReinsuranceAssetsAbstract', window );"><strong>Changes in reinsurance assets [abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReinsuranceAssets', window );">At the beginning of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,186,194<span></span>
</td>
<td class="nump">R$ 1,144,506<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsReinsuranceAssets', window );">Additions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">186,867<span></span>
</td>
<td class="nump">667,908<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInReinsuranceAssetsReversals', window );">Reversals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(139,641)<span></span>
</td>
<td class="num">(485,724)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses', window );">Recovered insurance losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(259,433)<span></span>
</td>
<td class="num">(173,908)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest', window );">Adjustment for inflation and interest</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(411)<span></span>
</td>
<td class="nump">43,790<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesReinsuranceAssets', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(754,362)<span></span>
</td>
<td class="num">(10,378)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReinsuranceAssets', window );">At the end of the year</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 219,214<span></span>
</td>
<td class="nump">R$ 1,186,194<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes the transfer of part of the operation of the large risk portfolio (Note 43).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in reinsurance assets - Adjustment of inflation and interest</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInReinsuranceAssetsAdjustmentOfInflationAndInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in reinsurance assets - Recovered insurance losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInReinsuranceAssetsRecoveredInsuranceLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInReinsuranceAssetsReversals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in reinsurance assets - Reversals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInReinsuranceAssetsReversals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to reinsurance assets, other than those acquired through business combinations. [Refer: Business combinations [member]; Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInReinsuranceAssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInReinsuranceAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reinsurance assets resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Reinsurance assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReinsuranceAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of a cedant&#8217;s net contractual rights under a reinsurance contract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReinsuranceAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>243
<FILENAME>R204.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6870524304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 10) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">R$ 5,879,921<span></span>
</td>
<td class="nump">R$ 6,327,615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">4,190,074<span></span>
</td>
<td class="nump">R$ 4,034,622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">5,086,824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(5,064,293)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">22,531<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,482,979<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,679,108<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,711,861<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,783,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,845,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,902,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,956,618<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,982,993<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">5,028,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">5,074,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member', window );">Year claims were notified - Up to 2007 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">5,086,824<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,149,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,022,199)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">126,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,152,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,108,270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,088,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,094,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,102,364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,102,595<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,127,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,140,708<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,158,436<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,149,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,057,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,042,673)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">15,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,058,559<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,037,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,018,329<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,015,921<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,046,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,044,644<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,056,612<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,072,169<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,057,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,419,614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,390,739)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">28,875<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,414,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,394,609<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,387,075<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,403,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,418,649<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,428,252<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,431,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,419,614<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,621,044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,586,371)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">34,673<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,647,298<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,626,356<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,604,738<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,604,061<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,600,194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,625,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,621,044<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,888,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,835,738)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">52,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,134,409<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,035,716<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,021,698<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,041,626<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,071,989<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,888,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,813,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,753,035)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">604,613,134,409<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,020,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,848,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,809,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,839,210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,813,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,436,234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,355,681)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">80,553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,708,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,456,642<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,464,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,436,234<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,989,904<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,879,707)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">110,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,160,984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,028,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,989,904<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,640,897<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,491,476)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">149,421<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,821,255<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,640,897<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,481,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,766,457)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">714,818<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,481,275<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">33,584,601<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(32,188,369)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">1,396,232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForTheClaimsAbstract', window );"><strong>Amount estimated for the claims:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount estimated for the claims:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsIncurredButNotReported">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for insured events that have occurred but for which claims have yet not been reported by policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsIncurredButNotReported</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsReportedByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for claims reported by policyholders as the result of the occurrence of insured events. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsReportedByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for premiums and claims, annuities and other policy benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions arising from an assessment of whether the carrying amount of an insurance liability needs to be increased (or the carrying amount of related deferred acquisition costs or related intangible assets decreased), based on a review of future cash flows. [Refer: Carrying amount [member]; Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_d&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedUpTo2007Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsInTheYearOfNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsOneYearAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsTwoYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsThreeYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsFourYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsFiveYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsSixYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsSevenYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsEightYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsNineYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForTheClaimsAxis=bbd_AmountEstimatedForTheClaimsTenYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2008Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2009Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2010Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2011Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2012Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2013Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2014Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsGrossReinsuranceYearClaimsWereNotified2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6846483760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 11) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">R$ 5,879,921<span></span>
</td>
<td class="nump">R$ 6,327,615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">4,190,074<span></span>
</td>
<td class="nump">R$ 4,034,622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">4,527,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(4,505,614)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">22,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,049,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,107,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,157,532<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,225,589<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,285,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,338,449<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,390,840<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,426,256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,466,917<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,510,383<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember', window );">Year claims were notified - Up to 2007 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">4,527,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">890,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(880,207)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">9,925<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">859,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">846,124<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">835,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">844,636<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">850,115<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">857,121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">868,958<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">873,978<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">884,796<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">890,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,824,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,809,102)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">14,983<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,791,249<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,773,092<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,766,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,769,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,791,739<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,797,090<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,810,770<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,822,466<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,824,085<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,292,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,265,943)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">26,708<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,260,194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,235,404<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,232,926<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,251,003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,268,293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,281,206<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,291,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,292,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,459,251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,424,679)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">34,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,440,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,417,095<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,401,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,418,057<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,425,973<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,452,938<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,459,251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,746,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,694,553)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">52,251<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,804,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,695,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,696,091<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,705,326<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,729,230<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,746,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,659,375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,599,885)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">59,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,815,311<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,648,135<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,622,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,658,925<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,659,375<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,323,339<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,243,342)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">79,997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,523,133<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,306,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,317,745<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,323,339<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,671,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,563,269)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">107,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,805,260<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,695,713<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,671,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,541,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(3,393,389)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">148,599<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,661,006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,541,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">3,443,486<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,736,036)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">707,450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">3,443,486<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">31,380,099<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(30,116,019)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">1,264,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount estimated for net claims for reinsurance:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsIncurredButNotReported">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for insured events that have occurred but for which claims have yet not been reported by policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsIncurredButNotReported</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsReportedByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for claims reported by policyholders as the result of the occurrence of insured events. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsReportedByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for premiums and claims, annuities and other policy benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions arising from an assessment of whether the carrying amount of an insurance liability needs to be increased (or the carrying amount of related deferred acquisition costs or related intangible assets decreased), based on a review of future cash flows. [Refer: Carrying amount [member]; Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_d&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedAxis=bbd_ClaimsNetReinsuranceYearClaimsWereNotifiedUpToMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsAxis=bbd_ClaimsNetReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6886495472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details 12) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">R$ 5,879,921<span></span>
</td>
<td class="nump">R$ 6,327,615<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">4,190,074<span></span>
</td>
<td class="nump">R$ 4,034,622<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">2,140,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(2,074,102)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">66,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,987,288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,004,988<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,038,732<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,075,972<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,079,897<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,081,301<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,086,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,068,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,076,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,094,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member', window );">Year claims were notified - Up 2007 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">2,140,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,020,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,003,673)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">17,083<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">987,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,000,730<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,020,530<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,018,008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,017,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,015,902<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,017,807<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,021,908<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,024,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,020,756<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2008Member', window );">Year claims were notified - 2008 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,115,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,098,409)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">17,298<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,062,753<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,082,779<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,105,401<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,100,970<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,109,079<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,119,669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,118,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,112,583<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,115,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2009Member', window );">Year claims were notified - 2009 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,189,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,151,732)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">38,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,185,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,183,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,195,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,185,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,198,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,198,607<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,197,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,189,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2010Member', window );">Year claims were notified - 2010 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,417,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,361,271)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">56,081<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,403,227<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,386,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,393,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,406,376<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,406,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,416,009<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,417,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2011Member', window );">Year claims were notified - 2011 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,459,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,398,760)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">60,421<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,448,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,431,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,447,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,450,511<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,454,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,459,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2012Member', window );">Year claims were notified - 2012 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,516,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,428,669)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">88,078<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,509,781<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,491,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,525,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,514,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,516,747<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2013Member', window );">Year claims were notified - 2013 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,495,266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,307,155)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">188,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,536,697<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,568,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,570,227<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,495,266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2014Member', window );">Year claims were notified - 2014 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,644,051<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,337,199)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">306,852<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,653,008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,648,842<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,644,051<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2015Member', window );">Year claims were notified - 2015 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,755,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,499,651)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">256,151<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,741,563<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,755,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2016Member', window );">Year claims were notified - 2016 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">1,771,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(1,280,837)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">490,457<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">1,771,294<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotified2017Member', window );">Year claims were notified - 2017 | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsReportedByPolicyholders', window );">Estimate of claims on the reporting date (2017)</a></td>
<td class="nump">16,526,848<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits', window );">Payments of claims</a></td>
<td class="num">(14,941,458)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClaimsIncurredButNotReported', window );">Liquid outstanding claims for reinsurance</a></td>
<td class="nump">1,585,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | In the year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | One year after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Two years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Three years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Four years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Five years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Six years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Seven years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Eight years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Nine years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedTotalMember', window );">Year claims were notified - Total | Ten years after notification</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract', window );"><strong>Amount estimated for net claims for reinsurance:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests', window );">Claims reported by policyholders</a></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount estimated for net claims for reinsurance:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AmountEstimatedForNetClaimsForReinsuranceAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsIncurredButNotReported">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for insured events that have occurred but for which claims have yet not been reported by policyholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_c&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsIncurredButNotReported</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClaimsReportedByPolicyholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liability for claims reported by policyholders as the result of the occurrence of insured events. [Refer: Types of insurance contracts [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_b&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClaimsReportedByPolicyholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for premiums and claims, annuities and other policy benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsForPremiumsAndClaimsAnnuitiesAndOtherPolicyBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of provisions arising from an assessment of whether the carrying amount of an insurance liability needs to be increased (or the carrying amount of related deferred acquisition costs or related intangible assets decreased), based on a review of future cash flows. [Refer: Carrying amount [member]; Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22_d&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionsArisingFromLiabilityAdequacyTests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedAxis=bbd_InsuranceClaimsGrossReinsuranceYearClaimsWereNotifiedUp2007Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsInTheYearOfNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsOneYearAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsTwoYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsThreeYearsAfterNotificationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsAxis=bbd_InsuranceClaimsGrossReinsuranceAmountEstimatedForTheClaimsFourYearsAfterNotificationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828749056">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Insurance technical provisions and pension plans (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">The claims table does not include the products</a></td>
<td class="nump">R$ 5,365,506<span></span>
</td>
<td class="nump">R$ 5,376,403<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember', window );">Health and Dental insurance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract', window );"><strong>Insurance technical provisions and pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">The claims table does not include the products</a></td>
<td class="nump">2,906,361<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember', window );">DPVAT insurance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract', window );"><strong>Insurance technical provisions and pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">The claims table does not include the products</a></td>
<td class="nump">86,592<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeRetrocessionMember', window );">Retrocession</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract', window );"><strong>Insurance technical provisions and pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">The claims table does not include the products</a></td>
<td class="nump">21,722<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember', window );">Salvage and reimbursement estimates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract', window );"><strong>Insurance technical provisions and pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued', window );">The claims table does not include the products</a></td>
<td class="num">R$ (163,923)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Insurance technical provisions and pension plans (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InsuranceTechnicalProvisionsAndPensionPlansDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities under insurance contracts and reinsurance contracts issued that the entity does not separately disclose in the same statement or note. [Refer: Liabilities under insurance contracts and reinsurance contracts issued]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph IG22<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_IG22&amp;doctype=Implementation%20Guidance<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_37_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLiabilitiesUnderInsuranceContractsAndReinsuranceContractsIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeHealthAndDentalInsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeDPVATInsuranceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeRetrocessionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeRetrocessionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ClaimsTableDoesNotIncludeAxis=bbd_ClaimsTableDoesNotIncludeSalvageAndReimbursementEstimatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>247
<FILENAME>R208.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6748246736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IProjectedBenefitObligationsAbstract', window );"><strong>I Projected Benefit Obligations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits', window );">At the beginning of the year</a></td>
<td class="nump">R$ 2,141,393<span></span>
</td>
<td class="nump">R$ 1,162,005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution', window );">Balance from an acquired institution</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">761,119<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Cost of service</a></td>
<td class="nump">186<span></span>
</td>
<td class="num">(1,077)<span></span>
</td>
<td class="num">R$ (579)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="nump">227,980<span></span>
</td>
<td class="nump">181,595<span></span>
</td>
<td class="nump">133,385<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Participant's contribution</a></td>
<td class="nump">1,197<span></span>
</td>
<td class="nump">2,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial gain/(loss)</a></td>
<td class="nump">144,624<span></span>
</td>
<td class="nump">182,762<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProjectedBenefitObligationsBenefitPaid', window );">Benefit paid</a></td>
<td class="num">(192,042)<span></span>
</td>
<td class="num">(147,842)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits', window );">At the end of the year</a></td>
<td class="nump">2,323,338<span></span>
</td>
<td class="nump">2,141,393<span></span>
</td>
<td class="nump">1,162,005<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IiPlanAssetsCompriseAbstract', window );"><strong>(ii) Plan assets comprise:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsLiabilitiesOfBenefitPlan', window );">At the beginning of the year</a></td>
<td class="nump">2,127,872<span></span>
</td>
<td class="nump">1,047,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution', window );">Balance from an acquired institution</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">883,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PlanAssetsCompriseExpectedEarnings', window );">Expected earnings</a></td>
<td class="nump">423,546<span></span>
</td>
<td class="nump">307,728<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ContributionsReceivedAbstract', window );"><strong>Contributions received:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployerContributions', window );">Employer</a></td>
<td class="nump">14,957<span></span>
</td>
<td class="nump">33,515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeContributions', window );">Employees</a></td>
<td class="nump">1,197<span></span>
</td>
<td class="nump">2,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BenefitsPaidOrPayable', window );">Benefits paid</a></td>
<td class="num">(192,043)<span></span>
</td>
<td class="num">(147,842)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsLiabilitiesOfBenefitPlan', window );">At the end of the year</a></td>
<td class="nump">2,375,529<span></span>
</td>
<td class="nump">2,127,872<span></span>
</td>
<td class="nump">R$ 1,047,782<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IiiFinancialPositionAbstract', window );"><strong>(iii) Financial position:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PlansInDeficit', window );">Plans in deficit</a></td>
<td class="num">(149,571)<span></span>
</td>
<td class="num">(130,293)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PlansInSurplus', window );">Plans in surplus</a></td>
<td class="nump">201,762<span></span>
</td>
<td class="nump">116,772<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SurplusDeficitInPlan', window );">Net balance</a></td>
<td class="nump">R$ 52,191<span></span>
</td>
<td class="num">R$ (13,521)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ContributionsReceivedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions received:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ContributionsReceivedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IProjectedBenefitObligationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(i) Projected benefit obligations:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IProjectedBenefitObligationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IiPlanAssetsCompriseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(ii) Plan assets comprise:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IiPlanAssetsCompriseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IiiFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>(iii) Financial position:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IiiFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Plan assets comprise - Balance from an acquired institution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PlanAssetsCompriseBalanceFromAnAcquiredInstitution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PlanAssetsCompriseExpectedEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Plan assets comprise - Expected earnings</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PlanAssetsCompriseExpectedEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PlansInDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Plans in deficit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PlansInDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PlansInSurplus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Plans in surplus</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PlansInSurplus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Projected benefit obligations - Balance from an acquired institution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProjectedBenefitObligationsBalanceFromAnAcquiredInstitution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProjectedBenefitObligationsBenefitPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Projected benefit obligations - Benefit paid</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProjectedBenefitObligationsBenefitPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in financial assumptions that result in remeasurements of the net defined benefit liability (asset). Financial assumptions deal with items such as: (a) the discount rate; (b) benefit levels, excluding any cost of the benefits to be met by employees, and future salary; (c) in the case of medical benefits, future medical costs, including claim handling costs (ie the costs that will be incurred in processing and resolving claims, including legal and adjuster's fees); and (d) taxes payable by the plan on contributions relating to service before the reporting date or on benefits resulting from that service. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsLiabilitiesOfBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets of a retirement benefit plan less liabilities other than the actuarial present value of promised retirement benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsLiabilitiesOfBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BenefitsPaidOrPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of benefits paid or payable for retirement benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BenefitsPaidOrPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from contributions to a defined benefit plan by plan participants. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employee contributions to retirement benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployerContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employer contributions to retirement benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployerContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities other than the actuarial present value of promised retirement benefits in retirement benefit plans. [Refer: Actuarial present value of promised retirement benefits]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph a<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_a_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesOtherThanActuarialPresentValueOfPromisedRetirementBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SurplusDeficitInPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value of the defined benefit obligation, less the fair value of the plan assets (if any). [Refer: Plan assets [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SurplusDeficitInPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>248
<FILENAME>R209.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831392096">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProjectedBenefitObligationsAbstract', window );"><strong>Projected Benefit Obligations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Cost of service</a></td>
<td class="nump">R$ 186<span></span>
</td>
<td class="num">R$ (1,077)<span></span>
</td>
<td class="num">R$ (579)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Cost of interest on actuarial obligations</a></td>
<td class="nump">227,980<span></span>
</td>
<td class="nump">181,595<span></span>
</td>
<td class="nump">133,385<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedEarningsFromTheAssetsOfThePlan', window );">Expected earnings from the assets of the plan</a></td>
<td class="num">(227,360)<span></span>
</td>
<td class="num">(174,937)<span></span>
</td>
<td class="num">(120,960)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NetCostbenefitOfThePensionPlans', window );">Net cost/(benefit) of the pension plans</a></td>
<td class="nump">R$ 806<span></span>
</td>
<td class="nump">R$ 5,581<span></span>
</td>
<td class="nump">R$ 11,846<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedEarningsFromTheAssetsOfThePlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected earnings from the assets of the plan</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedEarningsFromTheAssetsOfThePlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NetCostbenefitOfThePensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net cost/(benefit) of the pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NetCostbenefitOfThePensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProjectedBenefitObligationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Projected benefit obligations:</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProjectedBenefitObligationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>249
<FILENAME>R210.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6861634688">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details 3)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BenefitObligationsAndNetPeriodicBenefitCostAbstract', window );"><strong>Benefit Obligations And Net Periodic Benefit Cost [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DiscountRate', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">8.5% - 10% p.a.<span></span>
</td>
<td class="text">11.1% p.a.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLongtermRateOfReturnOnTheAssets', window );">Expected long-term rate of return on the assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">8.5% - 10% p.a.<span></span>
</td>
<td class="text">11.1% p.a.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncreaseInSalaryLevels', window );">Increase in salary levels</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">4.3% p.a.<span></span>
</td>
<td class="text">4.8% p.a.<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BenefitObligationsAndNetPeriodicBenefitCostAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Benefit obligations and net periodic benefit cost</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BenefitObligationsAndNetPeriodicBenefitCostAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DiscountRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discount rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DiscountRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedLongtermRateOfReturnOnTheAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected long-term rate of return on the assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedLongtermRateOfReturnOnTheAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncreaseInSalaryLevels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Increase in salary levels</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncreaseInSalaryLevels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>250
<FILENAME>R211.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6832000992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details 4)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheAlvoradaPlanMember', window );">Assets of the Alvorada Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesAbstract', window );"><strong>Asset categories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesEquities', window );">Equities</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesFixedIncome', window );">Fixed income</a></td>
<td class="nump">92.70%<span></span>
</td>
<td class="nump">93.10%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesProperties', window );">Real estate</a></td>
<td class="nump">5.70%<span></span>
</td>
<td class="nump">5.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesOther', window );">Other</a></td>
<td class="nump">1.60%<span></span>
</td>
<td class="nump">1.60%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesTotal', window );">Total</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheBradescoPlanMember', window );">Assets of the Bradesco Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesAbstract', window );"><strong>Asset categories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesEquities', window );">Equities</a></td>
<td class="nump">4.70%<span></span>
</td>
<td class="nump">3.90%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesFixedIncome', window );">Fixed income</a></td>
<td class="nump">90.60%<span></span>
</td>
<td class="nump">91.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesProperties', window );">Real estate</a></td>
<td class="nump">2.60%<span></span>
</td>
<td class="nump">2.70%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesOther', window );">Other</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="nump">2.10%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesTotal', window );">Total</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheKirtonPlanMember', window );">Assets of the Kirton Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesAbstract', window );"><strong>Asset categories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesEquities', window );">Equities</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesFixedIncome', window );">Fixed income</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesProperties', window );">Real estate</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesOther', window );">Other</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesTotal', window );">Total</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheLosangoPlanMember', window );">Assets of the Losango Plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesAbstract', window );"><strong>Asset categories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesEquities', window );">Equities</a></td>
<td class="nump">17.30%<span></span>
</td>
<td class="nump">18.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesFixedIncome', window );">Fixed income</a></td>
<td class="nump">82.70%<span></span>
</td>
<td class="nump">81.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesProperties', window );">Real estate</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesOther', window );">Other</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AssetCategoriesTotal', window );">Total</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesEquities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories - Equities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesEquities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesFixedIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories - Fixed income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesFixedIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories - Other</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesProperties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories - Properties</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AssetCategoriesTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset categories - Total</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AssetCategoriesTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheAlvoradaPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheAlvoradaPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheBradescoPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheBradescoPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheKirtonPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheKirtonPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheLosangoPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=bbd_AssetsOfTheLosangoPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>251
<FILENAME>R212.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6829056976">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details 5) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsAbstract', window );"><strong>Sensitivity analysis of the benefit plan obligations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DiscountRate', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">8.5% - 10% p.a.<span></span>
</td>
<td class="text">11.1% p.a.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisIncreaseOf1BPMember', window );">Sensitivity analysis: Increase of 1 b.p.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsAbstract', window );"><strong>Sensitivity analysis of the benefit plan obligations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DiscountRate', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">9.5% - 11.0% p.a.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis', window );">Effect on actuarial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">reduction<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EffectOnThePresentValueOfTheObligations', window );">Effect on the present value of the obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (256,532)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisDecreaseOf1BPMember', window );">Sensitivity analysis: Decrease of 1 b.p.</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsAbstract', window );"><strong>Sensitivity analysis of the benefit plan obligations</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DiscountRate', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">9.5% - 11.0% p.a.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis', window );">Effect on actuarial liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">increase<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EffectOnThePresentValueOfTheObligations', window );">Effect on the present value of the obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 303,154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017, considering an inflation rate of 4.3% p.a. and a real discount rate of 4.0% - 5.5% p.a. (2016 - 4.8% and 6.0% p.a., respectively).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DiscountRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discount rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DiscountRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EffectOnThePresentValueOfTheObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effect on the present value of the obligations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EffectOnThePresentValueOfTheObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of methods and assumptions used when preparing a sensitivity analysis for types of market risk to which the entity is exposed. [Refer: Market risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 40<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_40_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MethodsAndAssumptionsUsedInPreparingSensitivityAnalysis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisIncreaseOf1BPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisIncreaseOf1BPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisDecreaseOf1BPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SensitivityAnalysisAxis=bbd_SensitivityAnalysisDecreaseOf1BPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>252
<FILENAME>R213.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828520656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Supplemental pension plans (Details Text) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SupplementalPensionPlansDetailsTextAbstract', window );"><strong>Supplemental pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpensesRelatedToContributions', window );">Expenses related to contributions</a></td>
<td class="nump">R$ 988,905<span></span>
</td>
<td class="nump">R$ 584,438<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherEmployeeExpense', window );">Other employee expense</a></td>
<td class="nump">R$ 5,594,368<span></span>
</td>
<td class="nump">R$ 3,826,715<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation', window );">Inflation rate</a></td>
<td class="nump">4.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RealDiscountRate', window );">Real discount rate</a></td>
<td class="text">4.0% - 5.5% p.a.<span></span>
</td>
<td class="text">4.8% and 6.0% p.a.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ImpactOnTheActuarialExposure', window );">Impact on the actuarial exposure</a></td>
<td class="text">8.5 &#8211; 10.0% p.a.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMinimumMember', window );">Supplementary Pension Plan - Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SupplementalPensionPlansDetailsTextAbstract', window );"><strong>Supplemental pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ContributionsSupplementaryPensionPlan', window );">Contributions - Supplementary Pension Plan</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMaximumMember', window );">Supplementary Pension Plan - Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SupplementalPensionPlansDetailsTextAbstract', window );"><strong>Supplemental pension plans (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ContributionsSupplementaryPensionPlan', window );">Contributions - Supplementary Pension Plan</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ContributionsSupplementaryPensionPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contributions - Supplementary Pension Plan</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ContributionsSupplementaryPensionPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpensesRelatedToContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses related to contributions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpensesRelatedToContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ImpactOnTheActuarialExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Impact on the actuarial exposure</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ImpactOnTheActuarialExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RealDiscountRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Real discount rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RealDiscountRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SupplementalPensionPlansDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Supplemental pension plans (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SupplementalPensionPlansDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of inflation that is used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherEmployeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employee expenses that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherEmployeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SupplementaryPensionPlanAxis=bbd_SupplementaryPensionPlanMaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>253
<FILENAME>R214.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6832398480">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Provisions, contingent liabilities and contingent assets (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionLaborMember', window );">Labor</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsAbstract', window );"><strong>Changes in other provision</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInOtherProvisions', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 5,554,796<span></span>
</td>
<td class="nump">R$ 5,101,732<span></span>
</td>
<td class="nump">R$ 3,048,442<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Indexation charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">637,263<span></span>
</td>
<td class="nump">454,045<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Additions, net of reversals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,002,559<span></span>
</td>
<td class="nump">876,816<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,684,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionPayments', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,186,758)<span></span>
</td>
<td class="num">(961,941)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionCivilMember', window );">Civil</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsAbstract', window );"><strong>Changes in other provision</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInOtherProvisions', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,346,563<span></span>
</td>
<td class="nump">5,003,440<span></span>
</td>
<td class="nump">4,202,950<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Indexation charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">484,447<span></span>
</td>
<td class="nump">409,236<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Additions, net of reversals</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">830,642<span></span>
</td>
<td class="nump">1,310,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">544,997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionPayments', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(971,966)<span></span>
</td>
<td class="num">(1,464,076)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember', window );">Tax and Social Security</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsAbstract', window );"><strong>Changes in other provision</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInOtherProvisions', window );">Balance on</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="nump">7,589,368<span></span>
</td>
<td class="nump">8,187,237<span></span>
</td>
<td class="nump">R$ 8,112,925<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Indexation charges</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="nump">500,719<span></span>
</td>
<td class="nump">705,036<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions', window );">Additions, net of reversals</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="num">(984,342)<span></span>
</td>
<td class="num">(1,236,705)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution', window );">Balance originating from an acquired institution</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2],[3]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">703,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ChangesInOtherProvisionPayments', window );">Payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2],[3]</sup></td>
<td class="num">R$ (114,246)<span></span>
</td>
<td class="num">R$ (97,986)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">HSBC Brasil.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">In 2017, there were reversals of provisions related to: (i) the PIS process, related to the remuneration of amounts unduly paid, in the amount of R$ 268,729 thousand; (ii) IRPJ / CSLL on credit losses, in the amount of R$ 408,730 thousand; and (iii) Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed), in the amount of R$ 348,820 thousand and in 2016, there were reversals of a provisions relating to: i) the process of INSS of the self-employed of the Bradesco Saude subsidiary, in the amount of R$ 1,081,528 thousand; ii) to the Pis process - EC 17, in the amount of R$ 242,242 thousand; and iii) offset by the provision for social security contributions on transfers to private pension plans, in the amount of R$ 215,668 thousand; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Mainly include legal liabilities;</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in other provision - Balance originating from an acquired institution</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInOtherProvisionBalanceOriginatingFromAnAcquiredInstitution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ChangesInOtherProvisionPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Changes in other provision - Payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ChangesInOtherProvisionPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in other provisions resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfOtherProvisionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfOtherProvisionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurrent and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionLaborMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionLaborMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionCivilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionCivilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=bbd_ChangesInOtherProvisionTaxAndSocialSecurityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>254
<FILENAME>R215.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6843776048">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Provisions, contingent liabilities and contingent assets (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionsContingentLiabilitiesAndContingentAssetsDetailsTextAbstract', window );"><strong>Provisions, contingent liabilities and contingent assets (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxAndSocialSecurityObligationsPISAndCOFINS', window );">PIS and COFINS</a></td>
<td class="nump">R$ 2,489,247<span></span>
</td>
<td class="nump">R$ 2,320,261<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxAndSocialSecurityObligationsIRPJCSLLOnLossesOfCredits', window );">IRPJ/CSLL on losses of credits</a></td>
<td class="nump">1,614,663<span></span>
</td>
<td class="nump">1,913,208<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxAndSocialSecurityObligationsPensionContributions', window );">Pension Contributions</a></td>
<td class="nump">1,466,469<span></span>
</td>
<td class="nump">1,385,456<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxAndSocialSecurityObligationsINSSAutonomousBrokers', window );">INSS Autonomous Brokers</a></td>
<td class="nump">R$ 643,655<span></span>
</td>
<td class="nump">901,171<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders', window );">Social security contribution on remunerations paid to third-party service providers</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional', window );">Social security contribution on remunerations paid to third-party service providers - Additional</a></td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxAndSocialSecurityObligationsINSSContributionToSAT', window );">INSS - Contribution to SAT</a></td>
<td class="nump">R$ 401,018<span></span>
</td>
<td class="nump">374,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SpecialTaxRegularizationProgramPert', window );">Special Tax Regularization Program (PERT)</a></td>
<td class="nump">241,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IncentivizedInstallmentPaymentProgramPpisp', window );">Incentivized Installment Payment Program (PPI-SP)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,814<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid', window );">PIS process, related to the remuneration of amounts unduly paid</a></td>
<td class="nump">268,729<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrpjCsllOnCreditLosses', window );">IRPJ / CSLL on credit losses</a></td>
<td class="nump">408,730<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed', window );">Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</a></td>
<td class="nump">348,820<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReversalsOfProvisionsRelatingProcessOfInssOfTheSelfemployedOfTheBradescoSadeSubsidiary', window );">Reversals of a provisions relating - Process of INSS of the self-employed of the Bradesco Sa&#250;de subsidiary</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,081,528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReversalsOfProvisionsRelatingToThePisProcessEc', window );">Reversals of a provisions relating - To the Pis process - EC 17</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">242,242<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReversalsOfProvisionsRelatingOffsetByTheProvisionForSocialSecurityContributionsOnTransfersToPrivatePensionPlans', window );">Reversals of a provisions relating - Offset by the provision for social security contributions on transfers to private pension plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">215,668<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheOrganizationMaintainsSystemToMonitorAllAdministrativeAndJudicialProceedingsInWhichTheInstitutionIsPlaintiffOrDefendantAbstract', window );"><strong>The Organization maintains a system to monitor all administrative and judicial proceedings in which the institution is plaintiff or defendant</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ToIncomeTaxAndSocialContributionRelatingToGoodwillAmortizationBeingDisallowedOnTheAcquisitionOfInvestments', window );">2006 to 2013 income tax and social contribution, relating to goodwill amortization being disallowed on the acquisition of investments</a></td>
<td class="nump">6,264,741<span></span>
</td>
<td class="nump">5,894,504<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinesAndDisallowancesOfCofinsLoanCompensationsReleasedAfterFavorableDecisionInJudicialProceedingWhereTheUnconstitutionalityOfTheExpansionOfTheIntendedCalculationBaseWasDiscussedForRevenuesOtherThan', window );">Fines and disallowances of Cofins loan compensations, released after a favorable decision in a judicial proceeding, where the unconstitutionality of the expansion of the intended calculation base was discussed for revenues other than those from billing (Law no 9,718/98)</a></td>
<td class="nump">4,902,151<span></span>
</td>
<td class="nump">3,999,185<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond', window );">Leasing companies' Tax on Services of any Nature (ISSQN), total lawsuits correspond</a></td>
<td class="nump">2,394,087<span></span>
</td>
<td class="nump">2,398,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrpjAndCsllDeficiencyNoteRelatingToDisallowanceOfExclusionsOfRevenuesFromTheMarktomarketOfSecuritiesFromToDifferencesInDepreciationExpensesInsufficientDepreciationExpensesExpensesWithDepreciationOf', window );">IRPJ and CSLL deficiency note relating to disallowance of exclusions of revenues from the mark-to-market of securities from 2007 to 2012, differences in depreciation expenses, insufficient depreciation expenses, expenses with depreciation of leased assets, operating expenses and income and disallowance of tax loss compensation</a></td>
<td class="nump">2,431,844<span></span>
</td>
<td class="nump">1,653,942<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NotificationsAndDisallowancesOfCompensationsOfPisAndCofinsRelatedToTheUnconstitutionalExtensionOfTheBasisOfCalculationIntendedForOtherIncomeOtherThanTheBillingLawNoFromAcquiredCompanies', window );">Notifications and disallowances of compensations of PIS and Cofins related to the unconstitutional extension of the basis of calculation intended for other income other than the billing (Law no 9,718/98), from acquired companies</a></td>
<td class="nump">1,399,506<span></span>
</td>
<td class="nump">1,317,238<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrpjAndCsllDeficiencyNoticeRelatingToTheDisallowanceOfLoanLossDeductions', window );">IRPJ and CSLL deficiency notice relating to the disallowance of loan loss deductions</a></td>
<td class="nump">969,713<span></span>
</td>
<td class="nump">760,436<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrpjAndCsllDeficiencyNote', window );">IRPJ and CSLL deficiency note</a></td>
<td class="nump">R$ 489,687<span></span>
</td>
<td class="nump">R$ 459,962<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ContributionAxis=bbd_ContributionMember', window );">Contribution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionsContingentLiabilitiesAndContingentAssetsDetailsTextAbstract', window );"><strong>Provisions, contingent liabilities and contingent assets (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxRateINSSContributionToSAT', window );">INSS - Contribution to SAT - Percent</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ContributionAxis=bbd_ContributionIncreaseToMember', window );">Increase to</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionsContingentLiabilitiesAndContingentAssetsDetailsTextAbstract', window );"><strong>Provisions, contingent liabilities and contingent assets (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TaxRateINSSContributionToSAT', window );">INSS - Contribution to SAT - Percent</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Favorable decision in the process of social security contribution on the remuneration paid to accredited dentists (INSS of Self-employed)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FavorableDecisionInTheProcessOfSocialSecurityContributionOnTheRemunerationPaidToAccreditedDentistsInssOfSelfemployed</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinesAndDisallowancesOfCofinsLoanCompensationsReleasedAfterFavorableDecisionInJudicialProceedingWhereTheUnconstitutionalityOfTheExpansionOfTheIntendedCalculationBaseWasDiscussedForRevenuesOtherThan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fines and disallowances of Cofins loan compensations, released after a favorable decision in a judicial proceeding, where the unconstitutionality of the expansion of the intended calculation base was discussed for revenues other than those from billing (Law no 9,718/98)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinesAndDisallowancesOfCofinsLoanCompensationsReleasedAfterFavorableDecisionInJudicialProceedingWhereTheUnconstitutionalityOfTheExpansionOfTheIntendedCalculationBaseWasDiscussedForRevenuesOtherThan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IncentivizedInstallmentPaymentProgramPpisp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Incentivized Installment Payment Program (PPI-SP)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IncentivizedInstallmentPaymentProgramPpisp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrpjAndCsllDeficiencyNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRPJ and CSLL deficiency note</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrpjAndCsllDeficiencyNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrpjAndCsllDeficiencyNoteRelatingToDisallowanceOfExclusionsOfRevenuesFromTheMarktomarketOfSecuritiesFromToDifferencesInDepreciationExpensesInsufficientDepreciationExpensesExpensesWithDepreciationOf">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRPJ and CSLL deficiency note relating to disallowance of exclusions of revenues from the mark-to-market of securities from 2007 to 2012, differences in depreciation expenses, insufficient depreciation expenses, expenses with depreciation of leased assets, operating expenses and income and disallowance of tax loss compensation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrpjAndCsllDeficiencyNoteRelatingToDisallowanceOfExclusionsOfRevenuesFromTheMarktomarketOfSecuritiesFromToDifferencesInDepreciationExpensesInsufficientDepreciationExpensesExpensesWithDepreciationOf</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrpjAndCsllDeficiencyNoticeRelatingToTheDisallowanceOfLoanLossDeductions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRPJ and CSLL deficiency notice relating to the disallowance of loan loss deductions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrpjAndCsllDeficiencyNoticeRelatingToTheDisallowanceOfLoanLossDeductions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrpjCsllOnCreditLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRPJ / CSLL on credit losses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrpjCsllOnCreditLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Leasing companies' Tax on Services of any Nature (ISSQN), total lawsuits correspond</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LeasingCompaniesTaxOnServicesOfAnyNatureIssqnTotalLawsuitsCorrespond</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NotificationsAndDisallowancesOfCompensationsOfPisAndCofinsRelatedToTheUnconstitutionalExtensionOfTheBasisOfCalculationIntendedForOtherIncomeOtherThanTheBillingLawNoFromAcquiredCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Notifications and disallowances of compensations of PIS and Cofins related to the unconstitutional extension of the basis of calculation intended for other income other than the billing (Law no 9,718/98), from acquired companies</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NotificationsAndDisallowancesOfCompensationsOfPisAndCofinsRelatedToTheUnconstitutionalExtensionOfTheBasisOfCalculationIntendedForOtherIncomeOtherThanTheBillingLawNoFromAcquiredCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>PIS process, related to the remuneration of amounts unduly paid</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PisProcessRelatedToTheRemunerationOfAmountsUndulyPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionsContingentLiabilitiesAndContingentAssetsDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provisions, contingent liabilities and contingent assets (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionsContingentLiabilitiesAndContingentAssetsDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReversalsOfProvisionsRelatingOffsetByTheProvisionForSocialSecurityContributionsOnTransfersToPrivatePensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reversals of a provisions relating - Offset by the provision for social security contributions on transfers to private pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReversalsOfProvisionsRelatingOffsetByTheProvisionForSocialSecurityContributionsOnTransfersToPrivatePensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReversalsOfProvisionsRelatingProcessOfInssOfTheSelfemployedOfTheBradescoSadeSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reversals of a provisions relating - Process of INSS of the self-employed of the Bradesco Sa&#250;de subsidiary</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReversalsOfProvisionsRelatingProcessOfInssOfTheSelfemployedOfTheBradescoSadeSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReversalsOfProvisionsRelatingToThePisProcessEc">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reversals of a provisions relating - To the Pis process - EC 17</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReversalsOfProvisionsRelatingToThePisProcessEc</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Social security contribution on remunerations paid to third-party service providers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProviders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Social security contribution on remunerations paid to third-party service providers - Additional</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SocialSecurityContributionOnRemunerationsPaidToThirdpartyServiceProvidersAdditional</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SpecialTaxRegularizationProgramPert">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Special Tax Regularization Program (PERT)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SpecialTaxRegularizationProgramPert</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxAndSocialSecurityObligationsINSSAutonomousBrokers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax and social security obligations - INSS Autonomous Brokers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxAndSocialSecurityObligationsINSSAutonomousBrokers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxAndSocialSecurityObligationsINSSContributionToSAT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax and social security obligations - INSS - Contribution to SAT</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxAndSocialSecurityObligationsINSSContributionToSAT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxAndSocialSecurityObligationsIRPJCSLLOnLossesOfCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax and social security obligations - IRPJ/CSLL on losses of credits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxAndSocialSecurityObligationsIRPJCSLLOnLossesOfCredits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxAndSocialSecurityObligationsPISAndCOFINS">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax and social security obligations - PIS and COFINS</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxAndSocialSecurityObligationsPISAndCOFINS</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxAndSocialSecurityObligationsPensionContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax and social security obligations - Pension Contributions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxAndSocialSecurityObligationsPensionContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TaxRateINSSContributionToSAT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tax rate - INSS - Contribution to SAT</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TaxRateINSSContributionToSAT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheOrganizationMaintainsSystemToMonitorAllAdministrativeAndJudicialProceedingsInWhichTheInstitutionIsPlaintiffOrDefendantAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Organization maintains a system to monitor all administrative and judicial proceedings in which the institution is plaintiff or defendant</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheOrganizationMaintainsSystemToMonitorAllAdministrativeAndJudicialProceedingsInWhichTheInstitutionIsPlaintiffOrDefendantAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ToIncomeTaxAndSocialContributionRelatingToGoodwillAmortizationBeingDisallowedOnTheAcquisitionOfInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>2006 to 2013 income tax and social contribution, relating to goodwill amortization being disallowed on the acquisition of investments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ToIncomeTaxAndSocialContributionRelatingToGoodwillAmortizationBeingDisallowedOnTheAcquisitionOfInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ContributionAxis=bbd_ContributionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ContributionAxis=bbd_ContributionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ContributionAxis=bbd_ContributionIncreaseToMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ContributionAxis=bbd_ContributionIncreaseToMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>255
<FILENAME>R216.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6837039984">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Other liabilities (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract', window );"><strong>Categories of financial liabilities [abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesCreditCardTransactions', window );">Credit card transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 26,163,066<span></span>
</td>
<td class="nump">R$ 23,717,936<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesForeignExchangeTransactions', window );">Foreign exchange transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">17,085,029<span></span>
</td>
<td class="nump">17,975,291<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossLoanCommitments', window );">Loan assignment obligations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,454,076<span></span>
</td>
<td class="nump">8,761,827<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesCapitalizationBonds', window );">Capitalization bonds</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,562,974<span></span>
</td>
<td class="nump">7,502,158<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLiabilitiesSecuritiesTrading', window );">Securities trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,317,155<span></span>
</td>
<td class="nump">2,569,881<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceLeaseLiabilities', window );">Liabilities for acquisition of assets - financial leasing (Note 38 a)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">857,212<span></span>
</td>
<td class="nump">1,063,649<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesAbstract', window );"><strong>Other liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesThirdPartyFundsInTransit', window );">Third party funds in transit</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">7,211,038<span></span>
</td>
<td class="nump">7,068,452<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesProvisionForPayments', window );">Provision for payments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,743,428<span></span>
</td>
<td class="nump">6,997,168<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesSundryCreditors', window );">Sundry creditors</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,205,800<span></span>
</td>
<td class="nump">8,843,035<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Social and statutory</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,524,457<span></span>
</td>
<td class="nump">4,631,237<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax', window );">Other taxes payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,466,306<span></span>
</td>
<td class="nump">1,528,980<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LiabilitiesForAcquisitionOfAssetsAndRights', window );">Liabilities for acquisition of assets and rights</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,480,777<span></span>
</td>
<td class="nump">1,452,568<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesOthers', window );">Other</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,745,506<span></span>
</td>
<td class="nump">4,853,333<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherLiabilities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 97,816,824<span></span>
</td>
<td class="nump">R$ 96,965,515<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to amounts payable to merchants;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Mainly refers to the institution's sales in foreign currency to customers and its right's in domestic currency, resulting from exchange sale operations; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Mainly refers to payment orders issued domestically and the amount of payment orders in foreign currency coming from overseas.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLiabilitiesCapitalizationBonds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities - Capitalization bonds</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLiabilitiesCapitalizationBonds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLiabilitiesCreditCardTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities - Credit card transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLiabilitiesCreditCardTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLiabilitiesForeignExchangeTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities - Foreign exchange transactions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLiabilitiesForeignExchangeTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLiabilitiesSecuritiesTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial liabilities - Securities trading</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLiabilitiesSecuritiesTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LiabilitiesForAcquisitionOfAssetsAndRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Liabilities for acquisition of assets and rights</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LiabilitiesForAcquisitionOfAssetsAndRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities - Others</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesProvisionForPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities - Provision for payments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesProvisionForPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesSundryCreditors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities - Sundry creditors</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesSundryCreditors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesThirdPartyFundsInTransit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities - Third party funds in transit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesThirdPartyFundsInTransit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to finance leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossLoanCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of contractual undiscounted cash flows for gross commitments to receive a loan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph B11D<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_B11D_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossLoanCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payment due on social security and taxes other than income tax. Income taxes include all domestic and foreign taxes that are based on taxable profits. Income taxes also include taxes, such as withholding taxes, that are payable by a subsidiary, associate or joint arrangement on distributions to the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatutoryReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves created based on legal requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatutoryReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>256
<FILENAME>R217.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6838276016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other liabilities (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract', window );"><strong>Composition by maturity of financial leasing and details of operating leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceLeaseLiabilities', window );">Total</a></td>
<td class="nump">R$ 857,212<span></span>
</td>
<td class="nump">R$ 1,063,649<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingDueWithinOneYearMember', window );">Due within one year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract', window );"><strong>Composition by maturity of financial leasing and details of operating leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceLeaseLiabilities', window );">Total</a></td>
<td class="nump">564,337<span></span>
</td>
<td class="nump">578,965<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom1To2YearsMember', window );">From 1 to 2 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract', window );"><strong>Composition by maturity of financial leasing and details of operating leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceLeaseLiabilities', window );">Total</a></td>
<td class="nump">256,327<span></span>
</td>
<td class="nump">375,073<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom2To3YearsMember', window );">From 2 to 3 years</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract', window );"><strong>Composition by maturity of financial leasing and details of operating leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceLeaseLiabilities', window );">Total</a></td>
<td class="nump">R$ 36,548<span></span>
</td>
<td class="nump">R$ 109,611<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition by maturity of financial leasing and details of operating leases</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionByMaturityOfFinancialLeasingAndDetailsOfOperatingLeasesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceLeaseLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities related to finance leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-02&amp;anchor=para_55&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceLeaseLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingDueWithinOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLeasingAxis=bbd_FinancialLeasingDueWithinOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom1To2YearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom1To2YearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom2To3YearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialLeasingAxis=bbd_FinancialLeasingFrom2To3YearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>257
<FILENAME>R218.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830302912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other liabilities (Details Text)<br> R$ in Thousands</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesDetailsTextAbstract', window );"><strong>Other liabilities (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Total non-cancellable minimum future payments due on operating leases</a></td>
<td class="nump">R$ 7,923,649<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember', window );">Due within 1 year</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesDetailsTextAbstract', window );"><strong>Other liabilities (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Total non-cancellable minimum future payments due on operating leases</a></td>
<td class="nump">832,991<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember', window );">Due between 1-5 years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesDetailsTextAbstract', window );"><strong>Other liabilities (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Total non-cancellable minimum future payments due on operating leases</a></td>
<td class="nump">3,325,401<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember', window );">Due more than 5 years</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherLiabilitiesDetailsTextAbstract', window );"><strong>Other liabilities (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Total non-cancellable minimum future payments due on operating leases</a></td>
<td class="nump">R$ 3,765,257<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherLiabilitiesDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherLiabilitiesDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MinimumFinanceLeasePaymentsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payments over the finance lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with any amounts guaranteed by the lessee or by a party related to the lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_31_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MinimumFinanceLeasePaymentsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueWithin1YearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueBetween15YearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalNoncancellableMinimumFuturePaymentsDueAxis=bbd_TotalNoncancellableMinimumFuturePaymentsDueDueMoreThan5YearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>258
<FILENAME>R219.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828496384">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity (Details 1) - shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesAbstract', window );"><strong>Composition of share capital in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">Subtotal</a></td>
<td class="nump">6,108,961,905<span></span>
</td>
<td colspan="2" class="nump">6,108,961,905<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">6,085,073,610<span></span>
</td>
<td colspan="2" class="nump">6,085,073,610<span></span>
</td>
<td colspan="2" class="nump">6,085,665,540<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesAbstract', window );"><strong>Composition of share capital in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">Subtotal</a></td>
<td class="nump">3,054,481,112<span></span>
</td>
<td colspan="2" class="nump">3,054,481,112<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">3,049,448,563<span></span>
</td>
<td colspan="2" class="nump">3,049,448,563<span></span>
</td>
<td colspan="2" class="nump">3,050,040,493<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesAbstract', window );"><strong>Composition of share capital in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid', window );">Subtotal</a></td>
<td class="nump">3,054,480,793<span></span>
</td>
<td colspan="2" class="nump">3,054,480,793<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">3,035,625,047<span></span>
</td>
<td colspan="2" class="nump">3,035,625,047<span></span>
</td>
<td colspan="2" class="nump">3,035,625,047<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_TreasuryCommonSharesMember', window );">Treasury (common shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesAbstract', window );"><strong>Composition of share capital in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="num">(5,032,549)<span></span>
</td>
<td colspan="2" class="num">(5,032,549)<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_TreasuryPreferredSharesMember', window );">Treasury (preferred shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CompositionOfShareCapitalInNumberOfSharesAbstract', window );"><strong>Composition of share capital in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="num">(18,855,746)<span></span>
</td>
<td colspan="2" class="num">(18,855,746)<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors' Meeting of March 10, 2017 in proportion of one new share for every 10 shares held.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Composition of share capital in number of shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CompositionOfShareCapitalInNumberOfSharesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssuedAndFullyPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity, for which full payment has been received.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssuedAndFullyPaid</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=bbd_TreasuryCommonSharesMember</td>
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<html>
<head>
<title></title>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity (Details 2) - shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th" colspan="2"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInNumberOfSharesOutstandingAbstract', window );"><strong>Changes in capital stock, in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">6,085,073,610<span></span>
</td>
<td class="nump">6,085,073,610<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td colspan="2" class="nump">6,085,665,540<span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SharesAcquiredAndNotCancelled', window );">Shares acquired and not canceled</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(591,930)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInNumberOfSharesOutstandingAbstract', window );"><strong>Changes in capital stock, in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">3,049,448,563<span></span>
</td>
<td class="nump">3,049,448,563<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td colspan="2" class="nump">3,050,040,493<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SharesAcquiredAndNotCancelled', window );">Shares acquired and not canceled</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(591,930)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ChangesInNumberOfSharesOutstandingAbstract', window );"><strong>Changes in capital stock, in number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesOutstanding', window );">Number of shares outstanding on</a></td>
<td class="nump">3,035,625,047<span></span>
</td>
<td class="nump">3,035,625,047<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td colspan="2" class="nump">3,035,625,047<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">All share amounts presented for prior periods have been adjusted to reflect the stock split approved at the Board of Directors' Meeting of March 10, 2017 in proportion of one new share for every 10 shares held.</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Shares acquired and not cancelled</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ChangesInNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ChangesInNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6847466912">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Details Text) - BRL (R$)<br> R$ / shares in Units, R$ in Thousands</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Mar. 10, 2017</div></th>
<th class="th"><div>Mar. 10, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ShareBonus', window );">Share bonus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="nump">R$ 4,524,457<span></span>
</td>
<td class="nump">R$ 4,631,237<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Expected dividend as percentage, share options granted</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_LegalReserveAnnualStatutoryNetIncome', window );">Legal reserve - annual statutory net income</a></td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations', window );">Statutory Reserve - net income remaining after statutory allocations</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_AccumulatedValueLimitedPaidinCapitalShareAmount', window );">Accumulated value limited - Paid-in capital share amount</a></td>
<td class="nump">95.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendPayables', window );">Distributed dividends (including interest on equity)</a></td>
<td class="nump">R$ 7,204,344<span></span>
</td>
<td class="nump">R$ 6,975,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">The amount of dividends paid per ordinary share</a></td>
<td class="nump">R$ 1.13<span></span>
</td>
<td class="nump">R$ 1.09<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOtherSharesPerShare', window );">The amount of dividends paid per other share</a></td>
<td class="nump">R$ 1.25<span></span>
</td>
<td class="nump">R$ 1.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_NominativebookEntrySharesWithNoNominalValueMember', window );">Nominative-book entry shares, with no nominal value | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">504,872,885,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_NominativebookEntrySharesWithNoNominalValueMember', window );">Nominative-book entry shares, with no nominal value | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 555,360,173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">252,436,456,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">277,680,101<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfSharesIssued', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">252,436,429,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">277,680,072<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesIncreaseAmountMember', window );">Increase amount | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 8,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesIncreaseAmountMember', window );">Increase amount | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesCurrentValueMember', window );">Current value | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,100,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesCurrentValueMember', window );">Current value | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesAmountMember', window );">Amount | Extraordinary General Meeting - March 10, 2016</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 51,100,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProfitReservesAxis=bbd_ProfitReservesAmountMember', window );">Amount | Extraordinary General Meeting - March 10, 2017</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityDetailsTextAbstract', window );"><strong>Equity (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_StatutoryReserve', window );">Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 59,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_AccumulatedValueLimitedPaidinCapitalShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated value limited - Paid-in capital share amount</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_AccumulatedValueLimitedPaidinCapitalShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_LegalReserveAnnualStatutoryNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Legal reserve - annual statutory net income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_LegalReserveAnnualStatutoryNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ShareBonus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share bonus</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ShareBonus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Statutory Reserve - net income remaining after statutory allocations</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_StatutoryReserveNetIncomeRemainingAfterStatutoryAllocations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends that the company has declared but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinarySharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per ordinary share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2017-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2017-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinarySharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOtherSharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per other share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2017-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2017-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOtherSharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_StatutoryReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing reserves created based on legal requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_StatutoryReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_NominativebookEntrySharesWithNoNominalValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=bbd_NominativebookEntrySharesWithNoNominalValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExtraordinaryGeneralMeetingAxis=bbd_ExtraordinaryGeneralMeetingMarch102016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExtraordinaryGeneralMeetingAxis=bbd_ExtraordinaryGeneralMeetingMarch102016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExtraordinaryGeneralMeetingAxis=bbd_ExtraordinaryGeneralMeetingMarch102017Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExtraordinaryGeneralMeetingAxis=bbd_ExtraordinaryGeneralMeetingMarch102017Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProfitReservesAxis=bbd_ProfitReservesIncreaseAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProfitReservesAxis=bbd_ProfitReservesIncreaseAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProfitReservesAxis=bbd_ProfitReservesCurrentValueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProfitReservesAxis=bbd_ProfitReservesCurrentValueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProfitReservesAxis=bbd_ProfitReservesAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProfitReservesAxis=bbd_ProfitReservesAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>261
<FILENAME>R222.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6859100736">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Transactions with related parties (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 724,369<span></span>
</td>
<td class="nump">R$ 1,033,479<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,572<span></span>
</td>
<td class="nump">6,128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,122,088<span></span>
</td>
<td class="nump">1,524,462<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,282,217<span></span>
</td>
<td class="nump">6,977,691<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesSocialAndStatutory', window );">Social and statutory</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,275,419<span></span>
</td>
<td class="nump">1,770,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,827,877<span></span>
</td>
<td class="nump">13,704<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_ControllersMember', window );">Controllers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">931,141<span></span>
</td>
<td class="nump">1,374,940<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">6,632,932<span></span>
</td>
<td class="nump">5,755,615<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesSocialAndStatutory', window );">Social and statutory</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,275,419<span></span>
</td>
<td class="nump">1,770,149<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_JointControlAndAssociatedCompaniesMember', window );">Associates and Jointly controlled companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">724,369<span></span>
</td>
<td class="nump">1,033,479<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">3,572<span></span>
</td>
<td class="nump">6,128<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">103,734<span></span>
</td>
<td class="nump">62,928<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">244,082<span></span>
</td>
<td class="nump">398,549<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesSocialAndStatutory', window );">Social and statutory</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">8,827,877<span></span>
</td>
<td class="nump">13,704<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Key management personnel</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks', window );">Loans and advances to banks</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDepositsFromCustomers', window );">Deposits from customers</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">87,213<span></span>
</td>
<td class="nump">86,594<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities', window );">Funds from issuance of securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">1,405,203<span></span>
</td>
<td class="nump">823,527<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesSocialAndStatutory', window );">Social and statutory</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherLiabilities', window );">Other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Cidade de Deus Cia. Cial. de Participacoes, Fundacao Bradesco, NCF Participacoes S.A., Titanium Holdings S.A., BBD Participacoes S.A. and Nova Cidade de Deus Participacoes S.A.;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Companies listed in Note 2; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Members of the Board of Directors and the Board of Executive Officers.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesDepositsFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Deposits from customers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesDepositsFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Funds from issuance of securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesFundsFromIssuanceOfSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Loans and advances to banks</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesLoansAndAdvancesToBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Other assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Other liabilities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesSocialAndStatutory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Social and statutory</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesSocialAndStatutory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_ControllersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_ControllersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_JointControlAndAssociatedCompaniesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_JointControlAndAssociatedCompaniesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>262
<FILENAME>R223.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836738944">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Details 2) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RevenuesAndExpensesAbstract', window );"><strong>Revenues and expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesNetInterestIncome', window );">Net Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (931,206)<span></span>
</td>
<td class="num">R$ (1,280,078)<span></span>
</td>
<td class="num">R$ (167,583)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherRevenues', window );">Other revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">441,381<span></span>
</td>
<td class="nump">360,286<span></span>
</td>
<td class="nump">337,070<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherExpenses', window );">Other expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(291,752)<span></span>
</td>
<td class="num">(226,835)<span></span>
</td>
<td class="num">(248,664)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_ControllersMember', window );">Controllers</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RevenuesAndExpensesAbstract', window );"><strong>Revenues and expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesNetInterestIncome', window );">Net Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(887,059)<span></span>
</td>
<td class="num">(1,129,931)<span></span>
</td>
<td class="num">(78,813)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherRevenues', window );">Other revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherExpenses', window );">Other expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,652)<span></span>
</td>
<td class="num">(2,391)<span></span>
</td>
<td class="num">(2,160)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_JointControlAndAssociatedCompaniesMember', window );">Associates and Jointly controlled companies</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RevenuesAndExpensesAbstract', window );"><strong>Revenues and expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesNetInterestIncome', window );">Net Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">40,671<span></span>
</td>
<td class="num">(41,814)<span></span>
</td>
<td class="num">(426)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherRevenues', window );">Other revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">441,381<span></span>
</td>
<td class="nump">360,286<span></span>
</td>
<td class="nump">337,070<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherExpenses', window );">Other expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(289,100)<span></span>
</td>
<td class="num">(224,444)<span></span>
</td>
<td class="num">(246,504)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_KeyManagementPersonnelOfEntityOrParentMember', window );">Key management personnel</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RevenuesAndExpensesAbstract', window );"><strong>Revenues and expenses</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesNetInterestIncome', window );">Net Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(84,818)<span></span>
</td>
<td class="num">(108,333)<span></span>
</td>
<td class="num">(88,344)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherRevenues', window );">Other revenues</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesOtherExpenses', window );">Other expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
<td class="nump">R$ 0<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Cidade de Deus Cia. Cial. de Participacoes, Fundacao Bradesco, NCF Participacoes S.A., Titanium Holdings S.A., BBD Participacoes S.A. and Nova Cidade de Deus Participacoes S.A.;</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Companies listed in Note 2; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Members of the Board of Directors and the Board of Executive Officers.</td>
</tr>
</table></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenues and expenses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Net Interest income</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Other expenses</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties - Other revenues</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=bbd_ControllersMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>263
<FILENAME>R224.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6847331072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Details 3) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ShorttermBenefitsForManagementAbstract', window );"><strong>Shortterm Benefits For Management [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ShorttermBenefitsForManagementSalaries', window );">Salaries</a></td>
<td class="nump">R$ 456,262<span></span>
</td>
<td class="nump">R$ 441,592<span></span>
</td>
<td class="nump">R$ 309,864<span></span>
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<td class="nump">R$ 456,262<span></span>
</td>
<td class="nump">R$ 441,592<span></span>
</td>
<td class="nump">R$ 309,864<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Short-term benefits for management</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Short-term benefits for management - Salaries</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>264
<FILENAME>R225.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828402400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Details 4) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PostemploymentBenefitsAbstract', window );"><strong>Postemployment Benefits [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans', window );">Defined contribution supplementary pension plans</a></td>
<td class="nump">R$ 473,663<span></span>
</td>
<td class="nump">R$ 251,250<span></span>
</td>
<td class="nump">R$ 311,670<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits', window );">Total</a></td>
<td class="nump">R$ 473,663<span></span>
</td>
<td class="nump">R$ 251,250<span></span>
</td>
<td class="nump">R$ 311,670<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PostemploymentBenefitsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Post-employment benefits</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PostemploymentBenefitsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Post-employment benefits - Defined contribution supplementary pension plans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PostemploymentBenefitsDefinedContributionSupplementaryPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of post-employment benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>265
<FILENAME>R226.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874416912">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Details 5)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityParticipationAbstract', window );"><strong>Equity Participation [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityParticipationCommonShares', window );">Common shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.50%<span></span>
</td>
<td class="nump">0.70%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityParticipationPreferredShares', window );">Preferred shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.10%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityParticipationTotalShares', window );">Total shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.80%<span></span>
</td>
<td class="nump">0.90%<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In December 31, 2017, direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers in Bradesco totaled 2.3% of common shares, 1.1% of preferred shares and 1.7% of all shares (2016 - 2.8% of common shares, 1.2% of preferred shares and 2.0% of all shares).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityParticipationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity participation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityParticipationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityParticipationCommonShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity participation - Common shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityParticipationCommonShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityParticipationPreferredShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity participation - Preferred shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityParticipationPreferredShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityParticipationTotalShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity participation - Total shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityParticipationTotalShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>266
<FILENAME>R227.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6836374832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with related parties (Details Text) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Remuneration of key management personnel</a></td>
<td class="nump">R$ 468,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits', window );">Remuneration of key management personnel - Defined contribution pension plans</a></td>
<td class="nump">R$ 487,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_PolicyOnManagementCompensation', window );">Policy on Management compensation</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesAxis=bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesIndividualsOrCorporationsThatOwnTheirCapitalMember', window );">Individuals or corporations that own, their capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvances', window );">Financial institutions are not allowed to grant loans or advances</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesAxis=bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesCorporationsInWhichTheFinancialInstitutionItselfAnyOfficersOrAdministratorsOfTheInstitutionAsWellAsTheirSpousesAndRespectiveFamilyMembersMember', window );">Corporations in which the financial institution itself, any officers or administrators of the institution, as well as their spouses and respective family members up to the second degree, have equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvances', window );">Financial institutions are not allowed to grant loans or advances</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember', window );">Common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DirectAndIndirectShareholdingOfTheMembersOfBoardOfDirectorsAndBoardOfExecutiveOfficers', window );">Direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember', window );">Preferred shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DirectAndIndirectShareholdingOfTheMembersOfBoardOfDirectorsAndBoardOfExecutiveOfficers', window );">Direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers</a></td>
<td class="nump">1.10%<span></span>
</td>
<td class="nump">1.20%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_AllSharesMember', window );">All shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract', window );"><strong>Transactions with related parties (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_DirectAndIndirectShareholdingOfTheMembersOfBoardOfDirectorsAndBoardOfExecutiveOfficers', window );">Direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers</a></td>
<td class="nump">1.70%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_DirectAndIndirectShareholdingOfTheMembersOfBoardOfDirectorsAndBoardOfExecutiveOfficers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Direct and indirect shareholding of the members of Board of Directors and Board of Executive Officers</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_DirectAndIndirectShareholdingOfTheMembersOfBoardOfDirectorsAndBoardOfExecutiveOfficers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Financial institutions are not allowed to grant loans or advances</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_PolicyOnManagementCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Policy on Management compensation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_PolicyOnManagementCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TransactionsWithRelatedPartiesDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transactions with related parties (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TransactionsWithRelatedPartiesDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of other long-term employee benefits. [Refer: Other long-term employee benefits; Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationOtherLongtermBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesAxis=bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesIndividualsOrCorporationsThatOwnTheirCapitalMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesAxis=bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesCorporationsInWhichTheFinancialInstitutionItselfAnyOfficersOrAdministratorsOfTheInstitutionAsWellAsTheirSpousesAndRespectiveFamilyMembersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesAxis=bbd_FinancialInstitutionsAreNotAllowedToGrantLoansOrAdvancesCorporationsInWhichTheFinancialInstitutionItselfAnyOfficersOrAdministratorsOfTheInstitutionAsWellAsTheirSpousesAndRespectiveFamilyMembersMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_OrdinarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=ifrs-full_PreferenceSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfShareCapitalAxis=bbd_AllSharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfShareCapitalAxis=bbd_AllSharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>267
<FILENAME>R228.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828519120">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Off-balance sheet commitments (Details 1) - BRL (R$)<br> R$ in Thousands</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffbalanceSheetCommitmentsAbstract', window );"><strong>Offbalance Sheet Commitments [Abstract]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffbalanceSheetCommitmentsCommitmentsToExtendCredit', window );">Commitments to extend credit</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 203,927,816<span></span>
</td>
<td class="nump">R$ 237,019,535<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffbalanceSheetCommitmentsFinancialGuarantees', window );">Financial guarantees</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">78,867,348<span></span>
</td>
<td class="nump">78,949,483<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OffbalanceSheetCommitmentsLettersOfCreditForImports', window );">Letters of credit for imports</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">294,229<span></span>
</td>
<td class="nump">329,015<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalItemsNotRecordedInTheBalanceSheetNote', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 283,089,393<span></span>
</td>
<td class="nump">R$ 316,298,033<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes available lines of credit, limits for credit cards, personal loans, housing loans and overdrafts; and</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Refers to guarantees mostly provided for Corporate customers.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OffbalanceSheetCommitmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Off-balance sheet commitments</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OffbalanceSheetCommitmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OffbalanceSheetCommitmentsCommitmentsToExtendCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Off-balance sheet commitments - Commitments to extend credit</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OffbalanceSheetCommitmentsCommitmentsToExtendCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OffbalanceSheetCommitmentsFinancialGuarantees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Off-balance sheet commitments - Financial guarantees</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OffbalanceSheetCommitmentsFinancialGuarantees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OffbalanceSheetCommitmentsLettersOfCreditForImports">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Off-balance sheet commitments - Letters of credit for imports</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OffbalanceSheetCommitmentsLettersOfCreditForImports</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalItemsNotRecordedInTheBalanceSheetNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total items not recorded in the balance sheet</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalItemsNotRecordedInTheBalanceSheetNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>268
<FILENAME>R229.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6830201488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>New standards and amendments and interpretations of existing standards (Details Text)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_NewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsDetailsTextAbstract', window );"><strong>New Standards And Amendments And Interpretations Of Existing Standards Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReductionOfApproximately', window );">Reduction of approximately</a></td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects', window );">Reduction of approximately - Shareholders' equity, net of tax effects</a></td>
<td class="nump">R$ 2,200,000,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes', window );">Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</a></td>
<td class="nump">R$ 11,038,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity investments classified as available for sale with fair value - Held for long-term strategic purposes</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityInvestmentsClassifiedAsAvailableForSaleWithFairValueHeldForLongtermStrategicPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_NewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>New standards and amendments and interpretations of existing standards (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_NewStandardsAndAmendmentsAndInterpretationsOfExistingStandardsDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReductionOfApproximately">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction of approximately</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReductionOfApproximately</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reduction of approximately - Shareholders' equity, net of tax effects</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ReductionOfApproximatelyShareholdersEquityNetOfTaxEffects</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>269
<FILENAME>R230.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868562352">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>New standards and amendments and interpretations of existing standards (Details 2)<br> R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentBestEstimatesAbstract', window );"><strong>Current best estimates</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EstimatedExposureToCreditRisk', window );">Estimated Exposure to Credit Risk</a></td>
<td class="nump">R$ 521,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLoss', window );">Expected Loss</a></td>
<td class="nump">R$ 33,048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLossOnEstimatedExposureToCreditRisk', window );">Expected Loss on Estimated Exposure to Credit Risk</a></td>
<td class="nump">6.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage1Member', window );">Stage 1</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentBestEstimatesAbstract', window );"><strong>Current best estimates</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EstimatedExposureToCreditRisk', window );">Estimated Exposure to Credit Risk</a></td>
<td class="nump">R$ 432,416<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLoss', window );">Expected Loss</a></td>
<td class="nump">R$ 7,688<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLossOnEstimatedExposureToCreditRisk', window );">Expected Loss on Estimated Exposure to Credit Risk</a></td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage2Member', window );">Stage 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentBestEstimatesAbstract', window );"><strong>Current best estimates</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EstimatedExposureToCreditRisk', window );">Estimated Exposure to Credit Risk</a></td>
<td class="nump">R$ 51,853<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLoss', window );">Expected Loss</a></td>
<td class="nump">R$ 7,581<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLossOnEstimatedExposureToCreditRisk', window );">Expected Loss on Estimated Exposure to Credit Risk</a></td>
<td class="nump">15.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage3Member', window );">Stage 3</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CurrentBestEstimatesAbstract', window );"><strong>Current best estimates</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EstimatedExposureToCreditRisk', window );">Estimated Exposure to Credit Risk</a></td>
<td class="nump">R$ 37,277<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLoss', window );">Expected Loss</a></td>
<td class="nump">R$ 17,779<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ExpectedLossOnEstimatedExposureToCreditRisk', window );">Expected Loss on Estimated Exposure to Credit Risk</a></td>
<td class="nump">48.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CurrentBestEstimatesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current best estimates</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CurrentBestEstimatesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EstimatedExposureToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Estimated Exposure to Credit Risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EstimatedExposureToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected Loss</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ExpectedLossOnEstimatedExposureToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected Loss on Estimated Exposure to Credit Risk</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ExpectedLossOnEstimatedExposureToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CreditImpairmentOfFinancialInstrumentsAxis=bbd_Stage3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>270
<FILENAME>R231.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6891177584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>New standards and amendments and interpretations of existing standards (Details 1)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr><th class="th" colspan="2">
<div>Dec. 31, 2018 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionForAdditionalEstimatedCreditLossesOnJanuaryAbstract', window );"><strong>Provision For Additional Estimated Credit Losses On January [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionForAdditionalEstimatedCreditLossesCreditPortfolio', window );">Credit portfolio</a></td>
<td class="nump">R$ 3,829<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ProvisionForAdditionalEstimatedCreditLossesSecurities', window );">Securities</a></td>
<td class="nump">842<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TotalGrossAdditionalProvisions', window );">Total gross additional provisions</a></td>
<td class="nump">R$ 4,671<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes commitments and financial guarantees provided</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionForAdditionalEstimatedCreditLossesCreditPortfolio">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provision for additional estimated credit losses - Credit portfolio</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionForAdditionalEstimatedCreditLossesCreditPortfolio</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionForAdditionalEstimatedCreditLossesOnJanuaryAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provision for additional estimated credit losses on January 1, 2018</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionForAdditionalEstimatedCreditLossesOnJanuaryAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ProvisionForAdditionalEstimatedCreditLossesSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Provision for additional estimated credit losses - Securities</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ProvisionForAdditionalEstimatedCreditLossesSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TotalGrossAdditionalProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total gross additional provisions</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TotalGrossAdditionalProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>271
<FILENAME>R232.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6859348880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other information (Details Text) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherInformationDetailsTextAbstract', window );"><strong>Other information (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ControlOfTheCompanyWillBeSharedCapital', window );">Control of the company will be shared - Capital</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets', window );">Investment funds managed by Organization</a></td>
<td class="nump">R$ 4,377,508,000<span></span>
</td>
<td class="nump">R$ 4,303,781,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PortfolioAndOtherManagementFeeIncome', window );">Consortium which nature and involvement is related to generation management fees of consortium quotas</a></td>
<td class="nump">1,463,469,000<span></span>
</td>
<td class="nump">1,079,653,000<span></span>
</td>
<td class="nump">R$ 1,054,424,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ValuesThroughTheProvisionOfGuarantees', window );">Values through the provision of guarantees</a></td>
<td class="nump">104,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BradescoSegurosSaInvestmentTotals', window );">Bradesco Seguros S.A. - Investment totals</a></td>
<td class="nump">490,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BradescoSegurosSaGoodwillOnTheAcquisitionOfShares', window );">Bradesco Seguros S.A. - Goodwill on the acquisition of shares</a></td>
<td class="nump">R$ 126,897,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrbsPricePerShare', window );">IRB's - Price per share</a></td>
<td class="nump">R$ 27.24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrbsSharesWereSoldInTheBaseOffering', window );">IRB's - Shares were sold in the Base Offering</a></td>
<td class="nump">14,040,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrbsSupplementaryLotTotalingShares', window );">IRB's - Supplementary lot totaling shares</a></td>
<td class="nump">16,206,387<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_IrbsBradescoIndirectlyHoldsShares', window );">IRB's - Bradesco indirectly holds shares</a></td>
<td class="nump">47,520,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_InterestInTheCapitalStockOfIrb', window );">Interest in the capital stock of IRB</a></td>
<td class="nump">15.23%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost', window );">Special Voluntary Severance Program Scheme (PDVE) - Total cost</a></td>
<td class="nump">R$ 2,300,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_TheEstimatedAnnualEffectOnPersonnelExpensesIsReduction', window );">The estimated annual effect on personnel expenses is a reduction</a></td>
<td class="nump">R$ 1,500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityStakeAxis=bbd_EquityStakeBradescoSegurosMember', window );">Bradesco Seguros</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherInformationDetailsTextAbstract', window );"><strong>Other information (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityStake', window );">Equity stake</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BookEntrySharesCommonAndNominative', window );">Book entry shares, common and nominative</a></td>
<td class="nump">172,560,054<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_BookEntrySharesCommonAndNominativeInTheAmount', window );">Book entry shares, common and nominative in the amount</a></td>
<td class="nump">R$ 363,103,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityStakeAxis=bbd_EquityStakeSwissReCorsoMember', window );">Swiss Re Corso</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherInformationDetailsTextAbstract', window );"><strong>Other information (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_EquityStake', window );">Equity stake</a></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnconsolidatedStructuredEntitiesAxis=ifrs-full_UnconsolidatedStructuredEntitiesMember', window );">Unconsolidated structured entities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_OtherInformationDetailsTextAbstract', window );"><strong>Other information (Details Text)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets', window );">Investment funds managed by Organization</a></td>
<td class="nump">R$ 338,846,142,000<span></span>
</td>
<td class="nump">426,390,575,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_RevenuesEarnedInvestmentFundsManagedByOrganization', window );">Investment funds managed by Organization - Revenues earned</a></td>
<td class="nump">1,463,469,000<span></span>
</td>
<td class="nump">1,079,653,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PortfolioAndOtherManagementFeeIncome', window );">Consortium which nature and involvement is related to generation management fees of consortium quotas</a></td>
<td class="nump">74,323,031,000<span></span>
</td>
<td class="nump">71,075,119,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues', window );">Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</a></td>
<td class="nump">R$ 1,526,660,000<span></span>
</td>
<td class="nump">R$ 1,278,753,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BookEntrySharesCommonAndNominative">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Book entry shares, common and nominative</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BookEntrySharesCommonAndNominative</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BookEntrySharesCommonAndNominativeInTheAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Book entry shares, common and nominative in the amount</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BookEntrySharesCommonAndNominativeInTheAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BradescoSegurosSaGoodwillOnTheAcquisitionOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Bradesco Seguros S.A. - Goodwill on the acquisition of shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BradescoSegurosSaGoodwillOnTheAcquisitionOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_BradescoSegurosSaInvestmentTotals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Bradesco Seguros S.A. - Investment totals</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_BradescoSegurosSaInvestmentTotals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Consortium which nature and involvement is related to generation management fees of consortium quotas - Revenues</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ConsortiumWhichNatureAndInvolvementIsRelatedToGenerationManagementFeesOfConsortiumQuotasRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ControlOfTheCompanyWillBeSharedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Control of the company will be shared - Capital</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ControlOfTheCompanyWillBeSharedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityStake">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity stake</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityStake</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_InterestInTheCapitalStockOfIrb">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest in the capital stock of IRB</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_InterestInTheCapitalStockOfIrb</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrbsBradescoIndirectlyHoldsShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRB's - Bradesco indirectly holds shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrbsBradescoIndirectlyHoldsShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrbsPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRB's - Price per share</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrbsPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrbsSharesWereSoldInTheBaseOffering">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRB's - Shares were sold in the Base Offering</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrbsSharesWereSoldInTheBaseOffering</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_IrbsSupplementaryLotTotalingShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>IRB's - Supplementary lot totaling shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_IrbsSupplementaryLotTotalingShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_OtherInformationDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other information (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_OtherInformationDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_RevenuesEarnedInvestmentFundsManagedByOrganization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenues earned - Investment funds managed by Organization</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_RevenuesEarnedInvestmentFundsManagedByOrganization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Special Voluntary Severance Program Scheme (PDVE) - Total cost</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SpecialVoluntarySeveranceProgramSchemePdveTotalCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_TheEstimatedAnnualEffectOnPersonnelExpensesIsReduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated annual effect on personnel expenses is a reduction</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_TheEstimatedAnnualEffectOnPersonnelExpensesIsReduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_ValuesThroughTheProvisionOfGuarantees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Values through the provision of guarantees</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_ValuesThroughTheProvisionOfGuarantees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that investment funds constitute of the fair value of defined benefit plan assets. [Refer: Plan assets, at fair value; Defined benefit plans [member]; Investment funds [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 142<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_142_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentFundsAmountContributedToFairValueOfPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PortfolioAndOtherManagementFeeIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised from portfolio and other management fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PortfolioAndOtherManagementFeeIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityStakeAxis=bbd_EquityStakeBradescoSegurosMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityStakeAxis=bbd_EquityStakeBradescoSegurosMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_EquityStakeAxis=bbd_EquityStakeSwissReCorsoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_EquityStakeAxis=bbd_EquityStakeSwissReCorsoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnconsolidatedStructuredEntitiesAxis=ifrs-full_UnconsolidatedStructuredEntitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnconsolidatedStructuredEntitiesAxis=ifrs-full_UnconsolidatedStructuredEntitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>272
<FILENAME>R233.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6868217056">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Subsequent events (Details Text)<br> R$ in Thousands</strong></div></th>
<th class="th">
<div>Jan. 31, 2018 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_SubsequentEventsDetailsTextAbstract', window );"><strong>Subsequent Events Details Text [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditAssignedLoans', window );">Credit assigned loans</a></td>
<td class="nump">R$ 5,323,120<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_bbd_CreditAssignedLoansWhoseSaleValue', window );">Credit assigned loans - Whose sale value</a></td>
<td class="nump">R$ 110,189<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditAssignedLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit assigned loans</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditAssignedLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_CreditAssignedLoansWhoseSaleValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Credit assigned loans - Whose sale value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_CreditAssignedLoansWhoseSaleValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bbd_SubsequentEventsDetailsTextAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Subsequent events (Details Text)</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bbd_SubsequentEventsDetailsTextAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bbd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>EXCEL
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>274
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}

	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};

Show.toggleNext = function( link ){
	var ref = link;

	do{
		ref = ref.nextSibling;
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>275
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>277
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='UTF-8'?>
<FilingSummary>
  <Version>3.8.0.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1650</ContextCount>
  <ElementCount>1121</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>true</FootnotesReported>
  <SegmentCount>443</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>4</UnitCount>
  <MyReports>
    <Report instance="bbd-20171231.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
